LeoPrime Daily Market Analysis

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  • U.S Home Sales dropped in March

    Starting off the week the volumes remained subdued, which is expected because most markets have been closed since Friday.The Existing Home Sales change, released by the National Association of Realtors, provide an estimated value of housing market conditions which is announced as -4.9% mom vs -2.3% mom expected and the…

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  • AUDNZD finding resistance near 0.07000.

    The pair tested 0.07000 barrier with a high of 1.07282 last week as New Zealand Dollar (NZD) dropped across the board after quarterly consumer price index (CPI) data strengthened expectations of May month rate-cut from the Reserve Bank of New Zealand (RBNZ). The Q1 2019 CPI grew 0.1% versus 0.3%…

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  • EURUSD: Looks like bullish trend line with support at 1.1290

    EURUSD near the 1.1323 level and traded below the 1.1300 and 1.1280 support levels. More importantly, the pair are crucial bullish trend line with support at 1.1290. There was also a break below the 100 simple moving average and 200 simple moving average and the 50% Fib retracement level of…

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  • GBPJPY holding on at 145.000

    GBPJPY pair is struggling to break beyond 145.00 barrier .GBP/JPY’s pullback from the April 15 high of 147.00 has run out of steam at the 200-hour moving average (MA) line in the last 24 hours. Fewer moves of the GBP/JPY pair were witnessed during early Thursday as it trades near…

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  • EURUSD drops after weeker PMI

    EUR/USD has lost ground on Thursday. Currently, the pair is trading at 1.1252, down 0.41% on the day. It’s a busy day for fundamentals. German manufacturing PMI dropped to 44.5 in March, shy of the estimate of 45.2 points. The all-eurozone manufacturing PMI posted a decline of 47.8, missing the…

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  • EURUSD : Forecast

    Eurozone inflation is steady but remains well below the ECB target of 2.0 percent. The eurozone annual inflation rate edged lower to 1.4% in March, compared to 1.5% in February. Low inflation means that the ECB is not under pressure to raise interest rates. After last week’s policy meeting, Mario…

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  • GBPUSD struggling below 1.31000

    GBPUSD is trading in a channel with more of a bearish bias. The price also traded below the 200 hour MA today. Yesterday, that MA was busted early in the NY session, on reports of stalls in Brexit negotiations, and stayed below that MA for the rest of the day…

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  • XAUUSD drops below 1275.00

    Gold prices traded lower on Tuesday as positive economic data and U.S. earnings boosted risk sentiment, dampening demand for the safe haven precious metal. At 9:02 AM ET (13:02 GMT), gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell $9.45, or 0.7%, to…

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  • EURO falls on ECB Growth Doubts

    The euro can be to news related to economic data/growth outlook in the current market environment. The only good news I can think of in relation to this is that there are some green shoots in the Eurozone economy still and that's providing some support for the euro until they…

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  • USDJPY making bearish move at 112.00

    With a strong fundamental release for the US Dollar last week, USDJPY managed to raise till strong support changed resistance at 112.00. Start of this week was quite dull as there was no big impact but bearish reversal is seen at 112.00 region. The USD/JPY pair traded with a mild…

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