Historic Contraction in Q2 Sends UK into Recession

A recession is a macroeconomic term that refers to a significant decline in economic activity when compared to the previously recorded data. This morning, the pound released their quarterly GDP which was down 20.4% compared to the first three months of the year. This was the biggest contraction recorded in the history of the pound.Continue reading “Historic Contraction in Q2 Sends UK into Recession”

NZD/USD – Zones To Look Out For

There have been some attractive zones offering support and resistance on this pair recently which will be looked at below but first let’s start on the daily time frame to get a general idea of how this pair has been trending. On the daily time frame, we can see that the overall trend here isContinue reading “NZD/USD – Zones To Look Out For”

EUR/GBP – Euro British Pound Technical Outlook

Welcome to another blog by AspireFX, today we’ll be running over some technical analysis on EURGBP. Looking at the daily time frame we can see that price is ranging between an ascending trend line as well as a descending trend line. We’ve also seen a reversal off of the 78.6 bullish Fib level with aContinue reading “EUR/GBP – Euro British Pound Technical Outlook”

USD/CHF – Can the Franc Gain Further on the Dollar?

With the Switzerland KOF Leading Indicator coming out significantly positive compared to what was foretasted as well as the weak dollar we’ve been seeing recently, we could see this pair push lower. Looking on the weekly time frame we can see that we are in a bearish trend. We recently had the break below theContinue reading “USD/CHF – Can the Franc Gain Further on the Dollar?”

EUR/NZD – Pivotal Resistance Broken

Welcome to another blog by AspireFX. Looking at EURNZD, on the higher time frames we can see that there’s been a shift in momentum to the upside. On the daily time frame we can see that although we’ve created a lower low between the 3-10 July, following that price action we printed a higher lowContinue reading “EUR/NZD – Pivotal Resistance Broken”

Key Fundamentals This Week

This will be a news heavy week for the dollar with Core Durable Goods Orders being released today, the Conference Board Consumer Confidence which can predict consumer spending will be released tomorrow, on Wednesday the most notable release will be the oil inventories as well as the Goods Trade Balance. The most important news releaseContinue reading “Key Fundamentals This Week”

GBP/AUD – New Lows Created

This week we saw the Aussie Dollar gain strength against the pound. With Australia being one of the worlds biggest gold miners and with gold reaching 9 year highs this week, it’s easy to understand why we are seeing Aussie Dollar strength despite negative data releases. Looking at the 4 hour chart above, we canContinue reading “GBP/AUD – New Lows Created”