Over the past week, the US dollar has further worked its way into a complacent zone of congestion. The USD/ZAR pair has been in a downward trend throughout the past week, dropping from 7.8187 to as low as 7.3670. Yesterday, however, saw the beginning of an upward correction, a trend that is expected to continue. Below is the 8 hour chart for the pair. 1. The Slow Stochastic chart is exhibiting a fresh bullish cross, [...] Today’s news seems minor compared with the rest of the week. We can, however, expect to see two relatively major developments in today’s trading. The first is the release of Great Britain’s trade balance. While this figure doesn’t carry much weight by itself, it is coming on an oddly quiet news day which makes it [...]

EUR/AUD lost past session opening strength, and as comment yesterday, pair bearish midterm perspective remains unchanged. Quoting under 1.5000 area, pair has a multi years low at 1.4945 reached past week. Acceleration under that level, should send the pair lower, to the 1.4900 zone. Above 1.5030, yesterdays’ high first resistance area comes at 1.5060 ahead of 1.5110.