Author: Omada Admin
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Oil Jumps on Mid-East Rumours, USD Weakens
US equities retreated yesterday—ending a six-day rally—and the US dollar weakened as the selloff in long-term US Treasuries continued. The move came amid fraught budget negotiations in Washington over deficit spending and a proposed giant tax-cut bill, further exacerbated by Moody’s recent US rating downgrade. The concern is simple: if the US can’t cut spending…
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High Inflation Ties BoE’s Hands
Markets Core bond yields finished higher yesterday. US rates added up to 6.7 bps and Germany up to 5 bps at the very long end of the curve (30-yr). That happened in a session stripped of important economic data but in the wake of Japanese long-term bond yields (>=30y) surging to records highs. The specific…
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EUR/USD Regains Pace While USD/JPY Dips Further
EUR/USD started a decent upward move above the 1.1225 resistance. USD/JPY declined below 144.50 and is currently consolidating losses. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro found support and started a recovery wave above the 1.1250 resistance zone. There is a connecting bullish trend line forming with support at 1.1280 on the…
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Elliott Wave Analysis: EURUSD 5-Wave Rally Confirms Bullish Trend
The short-term Elliott Wave analysis for EURUSD indicates that the correction from the April 21, 2025, high has concluded with wave (4) at 1.1059. From the wave (3) peak, the decline unfolded as follows: wave W ended at 1.1265, wave X at 1.1381, and wave Y, structured as a zigzag, completed at 1.1059. Within wave…
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EUR/CHF Daily Outlook
Daily Pivots: (S1) 0.9334; (P) 0.9361; (R1) 0.9375; More…. No change in EUR/CHF’s outlook as range trading continues. Intraday bias stays neutral at this point. Price actions from 0.9218 are seen as either a corrective move or the third leg of the pattern from 0.9204. On the upside, break of 0.9419 will resume the rise…
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EUR/AUD Daily Outlook
Daily Pivots: (S1) 1.7434; (P) 1.7520; (R1) 1.7652; More… EUR/AUD is still limited range below 1.7628 resistance and intraday bias stays neutral. On the upside, firm break of 1.7628 will suggest that fall from 1.8554 as completed as a correction, and retain larger bullishness. Intraday bias will be back on the upside for stronger rebound.…
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EUR/GBP Daily Outlook
Daily Pivots: (S1) 0.8399; (P) 0.8414; (R1) 0.8442; More… Intraday bias in EUR/GBP is turned neutral as recovery from 0.8392 extends. More consolidations could be seen but further decline remains in favor as long as 0.8539 resistance holds. Below 0.8392 will resume the fall from 0.8737 to 0.8221/8239 support zone. In the bigger picture, current…
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USD/CHF Daily Outlook
Daily Pivots: (S1) 0.8256; (P) 0.8309; (R1) 0.8337; More…. USD/CHF’s downside accelerations suggests that corrective recovery from 0.8038 has already completed with three waves up to 0.8475. Intraday bias is back on the downside, and break of 0.8184 support will solidify this bearish case. Further break of 0.8038 will resume larger down trend to 61.8%…
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USD/JPY Daily Outlook
Daily Pivots: (S1) 143.89; (P) 144.70; (R1) 145.31; More… USD/JPY’s break of 144.02 support now argues that rebound from 139.87 has completed as a correction to 148.64. Intraday bias is back on the downside for retesting 139.87 support. For now, risk will stay on the downside as long as 146.08 minor resistance holds, in case…
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GBP/USD Daily Outlook
Daily Pivots: (S1) 1.3354; (P) 1.3375; (R1) 1.3414; More… Intraday bias in GBP/USD remains on the upside. Decisive break of 1.3433/42 key resistance zone will confirm larger up trend resumption. Next near term target will be 61.8% projection of 1.2706 to 1.3442 from 1.3138 at 1.3593, and then 100% projection at 1.1.3874. On the downside,…