Recent content by tradingwithmike

EURUSD adds to the ongoing optimism and reaches a new three-month peak around 1.0940 at the beginning of the week. The continuation of the upward bias could see the weekly high of 1.0945 (August 30) revisited sooner rather than later. Once cleared, spot could challenge the psychological...

The AUDJPY snuck over the 97.50 level just ahead of the Friday closing bell, trying to claw back some of the midweek's losses after the pair tumbled from a Wednesday peak of 98.66. The AUD/JPY closed out the trading week with some gains, up nearly 1.2% from Monday's opening bids near 96.40, but...

USDCHF lost more than 100 pips in the previous session, due to the downbeat US inflation data. The USD/CHF pair extends the losses, trading near 0.8870 during the European session on Wednesday. A decisive break below the latter could push the USD/CHF pair to reach the support region near 0.8800...

In the mid-North American session, GBPJPY rallied and refreshed eight-year highs at around 188.28 on Tuesday, after economic data from the US sparked speculations the Federal Reserve wouldn’t tighten monetary policy any further. Investors see that as a green light to buy riskier assets, to the...

EURJPY resumes the upside and prints new yearly highs in the vicinity of the 162.00 yardstick on Friday. Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.85 (November 10) is expected to face the next significant...

EURUSD trades in an inconclusive fashion around the 1.0700 region on Thursday. In case the downward bias picks up extra pace, the 55-day SMA at 1.0645 should offer temporary contention prior to the weekly low of 1.0495 (October 13). In the meantime, while below the 200-day SMA at 1.0801, the...