Can the EU Recovery Fund Change the Euro’s Fortunes?
The euro finally found its footing this week, bolstered by a Franco-German plan for a European recovery fund worth half a trillion euros to assist the economies most devastated by the crisis. Although the proposal is a step in the...
Dollar and Yen Firm But No Extra Risk Aversion Outside Hong Kong
Yen and Dollar remains the strongest ones for today while commodity currencies are weakest, led by Aussie. There was no follow through buying in Dollar and Yen beyond Asian session. The panic selloff in Hong Kong stocks didn’t spillover to...
AUDJPY Pulls Back, But Still in Positive Mode
AUDJPY inched lower in the last couple of sessions, after touching a 6-week high at 71.00, but the series of higher highs and higher lows is still intact on the daily chart, keeping the broader outlook positive. Endorsing the improved...
GBPAUD Bearish Wave Continues, 1.8524 Eyed As Oversold Signals Strengthen
GBPAUD added new legs to the downward pattern it started in early March after piercing the 200-day simple moving average (SMA), with the developing bearish cross between the 20- and 200-day SMAs increasing the case for another extension. That said,...
Stocks making the biggest moves in the premarket: Deere, Alibaba, Foot Locker, Lululemon & more
Take a look at some of the biggest movers in the premarket: Deere (DE) – The construction equipment maker reported fiscal second-quarter earnings of $2.11 per share, compared to the consensus estimate of $1.62 a share. Revenue beat estimates as...
BTCUSD $9,300 Resistance
Bitcoin has moved back above the $9,000 level after dip-buying interest came in from the $8,800 technical support area earlier today. Going forward, BTCUSD bulls need to move price back above the $9,300 level to further stabilize the cryptocurrency in...
EURUSD 1.0860 Critical Support
The euro currency is giving back a large portion of its weekly gains against the US dollar after the pair broke through the 1.0935 support level. The EURUSD pair is now at risk of falling towards the 1.0860 technical area...
US 30 Index Fails To Improve The Bullish Picture
The US 30 index is creating a sideways channel with an upper boundary the 24,913 resistance and lower boundary the 22,900 support. The index is still developing above the 50-day simple moving average (SMA), however, the MACD oscillator is flattening...
GBP/USD Outlook: Cable Maintains Bearish Bias And Eyes Key Supports At 1.2074/28
Cable edges lower on Friday, maintaining bearish bias for the third consecutive day after brief recovery was capped by thin daily cloud and falling 10DMA that keeps bear-leg from 1.2642 high intact. Pound is weighed by talks about negative interest rates, with...
XAU/USD Tests Resistance
Yesterday, the XAU/USD exchange rate reversed north from the lower boundary of the rising wedge pattern. During Friday morning, the rate was testing the resistance formed by the 55– and 100-hour SMAs near 1,740.00. From a theoretical perspective, it is...
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