Tag - aud - australian dollar

What drives the market on May 7?
What drives the market on May 7?

The main focus is on the UK as the Bank of England made an announcement this morning. Let’s see what’s happening with the British pound and what else moves the market today.

May 7: risk off
May 7: risk off

The market is submerged into an overall risk-off mood, with the AUD getting strong on recovering China and the GBP boosted by the BOE announcements, while the USD and the EUR are weak.

May 2020 forex season trading
May 2020 forex season trading

April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.

AUD/NZD formed a top
AUD/NZD formed a top

AUD/NZD formed a “shooting star” candlestick on the W1. The pair ran into the resistance line from the 2018 highs and failed to close above the 200-week MA at 1.0650.

April 27: Risk on
April 27: Risk on

The market starts the week with risky appetites: the AUD and the NZD rise, in line with the GBP/USD and the EUR/USD.

GBP/AUD: bearish reversal
GBP/AUD: bearish reversal

GBP/AUD has breached the support line from August 2019. What is happening at the chart looks like a pretty big change.

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