XAU/USD Analysis: Tests Resistance Level
Since Thursday, the XAU/USD exchange rate has been testing the resistance level—the monthly PP at 1,909.29. It is likely that yellow metal could gain support from the 55-, 100– and 200-hour SMAs in the 1,901.30/1,908.00 area. Thus, some upside potential...
USD/JPY Analysis: Pressured By 55– And 100-Hour SMAs
On Thursday, the USD/JPY currency pair touched the 105.45 mark. It is likely that the exchange rate could be pushed down by the 55– and 100-hour moving averages in the 105.30 area. A possible downside target is the weekly S2...
GBP/USD Analysis: Trades Above 1.2900
Yesterday, the GBP/USD exchange rate dropped to the 1.2900 level. During today’s morning, the rate reversed north. Given that the currency pair is pressured by the 55-, 100– and 200-hour SMA in the 1.2955/1.2980 range, it is likely that some...
EUR/USD Analysis: Consolidates Near 1.1700
Since Thursday, the EUR/USD currency pair has been trying to decline below the 1.1700 level. It is likely that the exchange rate could trade downwards in the short term, as it is pressured by the 55-hour moving average near 1.1730....
GBPJPY’s Advances Capped By 50-Day SMA, Pair Adopts Neutral Tone
GBPJPY appears to have stalled around the mid-Bollinger band at 135.78, after efforts to push higher were curbed by the 50-day simple moving average (SMA). The pair is edging east as directional momentum has taken the back seat. Despite their...
EUR/JPY Analysis: Selling Signals
The single European currency declined by 59 basis points or 0.48% against the Japanese Yen on Thursday. The currency pair tested the lower boundary of a narrow descending channel pattern during yesterday’s trading session. Everything being equal, the 50– hour...
AUD/USD Analysis: Decline Likely To Continue
The Australian Dollar declined by 79 basis points or 1.10% against the US Dollar on Thursday. The currency pair tested the lower line of a descending channel pattern at 0.7060 during Thursday’s trading session. All things being equal, the exchange...
USD/CAD Anlaysis: Breakout Occurs
The US Dollar surged by 97 basis points or 0.74% against the Canadian Dollar on Thursday. A breakout occurred through the upper line of a descending channel pattern during Thursday’s trading session. Given that a breakout has occurred, the exchange...
Dollar & Yen Firm, But More Needed to Prove Their Strength
Dollar and Yen remain generally firm in Asian session while Australian and New Zealand Dollars are soft. US stocks pared back much of the initial losses overnight with DOW ended nearly flat. Overall sentiments are also stable and mixed in...
USD/JPY Could Nosedive If It Breaks 105.00
Key Highlights USD/JPY started a downward move after it failed to surpass the 106.00 resistance. It traded below a key bullish trend line with support at 105.60 on the 4-hours chart. EUR/USD extended its decline below 1.1720, GBP/USD revered gains...
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