FxWirePro: Gold breaks major resistance around $1100, good to buy at dips

Jan 07, 2016 09:39 am UTC| Technicals

Pattern Formed - Big W pattern The commodity has broken major resistance $1100 and jumped till $1102 from that level. It is currently trading at $1095. Short term trend is still bullish as long as support $1078 holds....

FxWirePro: USD/CAD hits new 12- year high, good to buy at dips

Jan 07, 2016 09:00 am UTC| Technicals

Loonie hits new 12- year high around 1.4108 yesterday and closed around 1.4075. The currency has been hammered heavily due to weak oil price, poor prospects for domestic economic growth and the policy divergence...

FX Hedging Strategy Series

FxWirePro: PBoC TWI weapon weighing CNY but bringing back surge in Chinese exports yet factor in – strategy for hedging receivables

Jan 07, 2016 08:19 am UTC| Insights & Views Technicals

We reckon that the USDCNY exchange rate determination will indeed mirror an increasing reference to the NEER currency basket even if the PBoC has not explicitly committed to this. The central bank set the yuans official...

FX Hedging Strategy Series

FxWirePro: Risk reversals signal “Yen taming both dollar and Euro”, EUR/JPY IVs back in action and so does PRBS

Jan 07, 2016 07:45 am UTC| Technicals

Please observe the IV factor for ATM contracts with 1w-1m expiries of Yen denominated currency crosses tops the risk reversal table for highest hedging activities eyeing downside risks. These negative risk reversals is...

FxWirePro: EUR/USD recovers after making a low of 1.0710, good to sell on rallies

Jan 07, 2016 07:43 am UTC| Technicals

EUR/USD has recovered till 1.08295 at the time of writing after making a low of 1.0710. It is currently trading around 1.08087. Short term trend is still bearish as long as resistance 1.08550 holds. Any break above...

BTC/USD breaks major resistance around $436, jump till $468 is possible

Jan 07, 2016 07:09 am UTC| Technicals Digital Currency

Chart Pattern Formed- Ascending Triangle Pattern BTC/USD has broken major resistance $436 which confirms minor trend reversal a jump till $468 is possible. Short term trend is still bullish as long as support...

USDCNY hits 5- year high at 6.7584 on devaluation and weak Chinese data

Jan 07, 2016 06:46 am UTC| Technicals

Chinese yuan plunged to five year low to 6.5928 after the drop in services PMI which indicates further weakness in the growth of economy. "The PBoC set the Yuan reference rate at 6.5314, an effective 0.22% devaluation,...