As largely anticipated, the People’s Bank of China (PBOC) drastically reduced the reserve requirement ratio (RRR) of banks by 50bps on Monday.This is the second time that the banks’ RRR has been reduced by the PBOC. Premier Li Keqiang spoke of this cut last Friday, in which he claimed that the …
Price Action Charts in Focus
EURCHF Bears’ Latest Stop Is at the 1.04010 Significant Level
EURCHF Analysis - Significant Level 1.04010 Is the Bears’ Latest Market Stop EURCHF bears' latest stop is at the 1.04010 significant level. The market has been strongly bearish, notably since the 17th of September. Moreover, EURCHF has successfully navigated itself through all the significant …
USD/CAD Rallies to an Overbought Region, May Face Rejection
USD/CAD Long-Term Analysis: BullishUSD/CAD pair is in an uptrend. The currency pair has broken above the moving averages to retest level 1.2800 overhead resistance. The current uptrend has reached the overbought region of the market. The implication is that a further upward move is unlikely. …