USD/CAD – Hurricane Laura Forcing Oil Rig Shutdowns

Oil prices have started to push higher as Hurricane Laura begins to move from the Gulf of Mexico towards the heart of the U.S. oil industry. Since Tuesday, 1.56 million barrels per day of crude output has been shutdown as well as 15% of the U.S. processing capacity has also been shut down. Let usContinue reading “USD/CAD – Hurricane Laura Forcing Oil Rig Shutdowns”

USD/JPY – Updated Analysis

With the first data release for the dollar coming out negative this afternoon as well as the Consumer Confidence coming out negative, let us look at updated analysis on USD/JPY. On the 4-hour time frame we can see that price rejected off of the potential right shoulder area meaning the head and shoulder pattern isContinue reading “USD/JPY – Updated Analysis”

USD/JPY – Potential Continuation to the Downside

With the dollar index reaching record lows yesterday, let’s look at a potential move to the downside on USD/JPY. On the 4 hour chart above, we can see that price made a lower low by looking at the upward pointing arrow. We also have a potential head and shoulder pattern which lines up nicely withContinue reading “USD/JPY – Potential Continuation to the Downside”

EUR/NZD – Technical Analysis

Today, we’ll be looking at the Euro versus the New Zealand dollar for a potential move to the upside into and possibly through the monthly key of 1.82000. Plotting the fib on the 4 hour time frame we can see that there was a wick into the 78.6 and a reversal off of the 61.8Continue reading “EUR/NZD – Technical Analysis”

Fundamentals for the Upcoming Week

Knowing what to expect in terms of news events for the week is crucial when trading as it gives you more insight into the market direction with the specific pairs you are trading. US and China postponed trade talks that were planned for the weekend past. They were supposed to review the progress made onContinue reading “Fundamentals for the Upcoming Week”

USD/JPY – Technical Outlook

USDJPY has recently closed above a major key level for the first time since the end of July. Below, I’ll do a top down analysis on this pair starting at the daily time frame. Looking at the chart above, we can see that we’ve recently closed above the major key level of 106.500. Looking atContinue reading “USD/JPY – Technical Outlook”

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”