Although cable’s retreat after intra-day rise to 1.6547 suggests a temporary top has been formed and consolidation below this level is seen with mild downside bias for retracement of recent upmove, reckon downside would be limited to the Ichimoku cloud bottom (now at 1.6396) and bring rebound later. Only break

As the single currency has retreated after intra-day marginal rise to 1.4424, suggesting minor consolidation would be seen and pullback to the Kijun-Sen (now at 1.4343) is likely, however, reckon downside would be limited to the Ichimoku cloud top (now at 1.4272) and bring another rise later. A break of

Although the greenback has retreated after intra-day cross-inspired rise to 81.77, as long as the Ichimoku cloud bottom (now at 80.91) holds, further consolidation above intra-day support at 80.71 would take place with mild upside bias for another rebound later. A break of said resistance would extend the rise from

A sizzling equity market rally took most of the shine away from government bond prices on Tuesday as investors tossed core European bonds down the safety chute. Yields rose sharply after EU officials ruled out a “total restructuring” of Greek debt and announced that they were engineering a new package

The AUD/USD did break out of a declining wedge, but is still held below 50% retracement seen in the 4H chart.

Sure, the declining wedge has been broken, but can the market confirm the bullish intent?

Currently, the RSI is still below 70 in the 4H chart, so there is no bullish

The Conference Board’s measure of U.S. consumer confidence fell 5.2 points to 60.8 in May, more than reversing last month’s 2.2 point increase to 66.0 (initially reported as 65.4) and falling to its lowest level since last November. The decline in sentiment comes as a surprise as market expectations were

Consumer Confidence Declines in May

Consumer confidence fell 5.2 points to 60.8 in May, falling to its lowest level since November. Both the present situation and expectations series declined in May, and the job and income outlook also darkened a bit.

Consumer Confidence Is Still Lagging

Consumer confidence fell 5.2 points,

Risk-on trading took a pause around 10 AM ET, as the US posted its Chicago PMI and Conference Board Consumer Confidence index, both coming in weaker than expected, and continuing the theme of softening US fundamental data.

The Dollar slipped against the Yen, giving back a chunk of its gains from