USD/CAD – Technical Analysis

The US dollar has come under a lot of pressure in recent weeks and with oil trading above $45 for the first time since the oil market crashed in the beginning of the year, let us look at potential short positions on this pair. Looking on the daily time frame, we can see that yesterdaysContinue reading “USD/CAD – Technical Analysis”

EUR/NZD – Updated Analysis

The president of the ECB, Christine Lagarde, stated at yesterday’s press conference that the economic activity in Europe has lost significant momentum in the fourth quarter with the surge in coronavirus cases adding to the already heightened level of uncertainty. Beginning on the daily time frame, paying close attention to the latest candle closure, weContinue reading “EUR/NZD – Updated Analysis”

EUR/NZD – Technical Analysis

With the post Brexit deal still proving to be elusive as well as Europe experiencing their second wave of coronavirus, the euro has been experiencing a lot of downward pressure when compared to the Kiwi dollar. Looking on the daily time frame, we can see how using the double bodies on this time frame helpsContinue reading “EUR/NZD – Technical Analysis”

EUR/NZD – Euro Risk Remains

Europe is turning to mass testing to contain the pandemic that has forced nations into lockdowns which cannot be sustained. Over the course of the past weekend, Slovakia attempted to test its entire adult population and the surrounding nations are looking to follow suit. On the 4-hour time frame, with the same fib placed asContinue reading “EUR/NZD – Euro Risk Remains”

EUR/NZD – Euro Facing Downside Risk

The eurozone economy grew rapidly in the third quarter posting a 12.7% growth in GDP over the last quarter but with coronavirus infections increasing and new restrictions being implemented, downside risk is likely to continue. Looking at the daily chart above, we can see that this pair was trending to the upside creating higher highsContinue reading “EUR/NZD – Euro Facing Downside Risk”

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”

CHFJPY – Update

Welcome to another blog by AspireFX. Today, we’ll be looking at what happened with CHFJPY over the course of the week. Looking back at the analysis done earlier in the week, we can see that this pair fell 130 pips once the retest of the trend line was confirmed illustrated above by the the highlightedContinue reading “CHFJPY – Update”

GBP/JPY – Potential Scenarios

Welcome to another AspireFX blog. Today we’ll be looking at the Pound versus the Yen and the potential moves we could see as this week comes to a close as well as heading into next week. Looking on the 4 hour chart above, we can see we’ve been trending to the downside between two descendingContinue reading “GBP/JPY – Potential Scenarios”

DXY – COVID-19 Concerns Causing Dollar Weakness

Welcome to another AspireFX blog. We’ve seen the majority of dollar data come out positive as of late which leaves the question to be asked, what is actually causing dollar weakness across the board? There has been a surge in new COVID-19 cases reported in the US which has caused the dollar to take aContinue reading “DXY – COVID-19 Concerns Causing Dollar Weakness”

USDZAR – Higher Low Finally Formed

Welcome to another AspireFX blog, we will be going through some technical analysis on the South African Rand versus the US Dollar as well as which fundamentals will come into play this week. On the daily time frame, placing the Fibonacci tool from where price gapped to the upside at the beginning of the currentContinue reading “USDZAR – Higher Low Finally Formed”