Canadian Dollar Hits 4-Week High
The Canadian dollar has posted slight gains on Friday. Currently, USD/CAD is trading at 1.2646, down 0.24% on the day. Canadian dollar closes in on 1.26 line The Canadian dollar has been creeping higher since mid-week. Earlier in the day,...
EUR/USD Bullish Reversal Indicating Start Of ABC Zigzag Pattern
The EUR/USD made a bullish bounce at the 50-61.8% Fibonacci retracement levels as expected in our EUR/USD and GBP/USD video earlier this week. The breakout above the resistance trend lines (orange) confirms the continuation of the uptrend (green arrows). The...
US 30 Index Fails To Jump To New Record High
The US 30 stock index (Cash) rebounded off the 29,642 support level, however, the current market reaction is flat around the record high of 31,718.90. The technical indicators are suggesting contradicting signals. The RSI is moving marginally higher in the...
Gold 1-2-3s Are The Best Trades So Far
The downside potential of Gold is big. Gold has been the best so far to trade as short traders enjoyed very good profits. Gold is in a strong bearish zig zag downtrend. We should see a continuation down to the...
EUR/USD Surges Above 1.2100
On Friday morning, the EUR/USD passed the resistance of the weekly simple pivot point and the 100 and 200-hour simple moving averages, which were located near the 1.2100 level. In the near term future, the rate was expected to test...
GBP/USD Passes Above 1.4000
The GBP/USD managed to pass the resistance of the weekly R1 on Thursday. On Friday morning, the GBP had extended its gains against the USD, as the rate had reached above the weekly R2 simple pivot point and the 1.4000...
USD/JPY Sharply Decline On Friday
On Friday morning, the USD/JPY passed the support of the 100-hour SMA and the pivot point at 105.62. This resulted in a sharp decline that was expected to look for support first in the 200-hour SMA at 105.20 and afterwards...
GOLD Is Pushed Down By SMA
As the resistance of the 55-hour simple moving average approached the yellow metal’s price from above, it pushed it into a test of the lower trend line of the recently added declining wedge pattern. On Friday morning, the lower trend...
Sterling Stays Strong as Focus Turns to Retail Sales and PMIs
Sterling continues to trade as the strongest one for the week, as focus turns to UK retail sales and PMIs. Upside surprises there could give the Pound another lift. Australian Dollar is keeping itself close as second strongest for now....
Market Morning Briefing: Euro Has Support At 1.20
STOCKS Equities seem to be losing momentum and are in need of some fresh trigger to move further higher from here sharply. In the absence of any fresh triggers, the price action in the coming days will need a close...
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