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Category: Technical analysis of Forex market

USDCAD Recoils Beneath 200-SMA But Upside Still Active

USDCAD’s seven-week uptrend from the 6-year lows remains structurally intact with shaped higher lows and highs, in spite of the fresh pullback from the peak of 1.2807. Upside sentiment appears to be growing, something also being indicated by the softened negative slopes of the 100- and 50-day simple moving averages (SMAs). Furthermore, the rising 50-day …

USDCAD Recoils Beneath 200-SMA But Upside Still ActiveRead More

EUR/USD Outlook: Extended Consolidation To Precede Final Push Towards Key Supports

The EURUSD is holding near the new multi-week low in early European trading on Friday, after strong upside rejection and subsequent drop on Thursday. The short-lived positive impact from ECB resulted in a brief correction which was capped by initial barriers (falling 10/20DMA’s). Upbeat German PMI data keep the pair afloat, but the reaction was …

EUR/USD Outlook: Extended Consolidation To Precede Final Push Towards Key SupportsRead More

USDCHF Ranges Between 23.6% and 76.4% Fibonacci Levels

USDCHF is struggling to dip beneath the 100-day simple moving average (SMA) at 0.9155 following the recent evaporation of upside momentum. That said, the pair is somewhat presently stuck between the stabilized upper and lower frontiers of the Bollinger bands at 0.9259 and 0.9114 respectively. The SMAs at this point in time are not really …

USDCHF Ranges Between 23.6% and 76.4% Fibonacci LevelsRead More

GBPJPY powers up as negative risks endure

GBPJPY has pushed over the 150.65 barrier and is making efforts to test the resistance band of 151.30-151.60. The falling simple moving averages (SMAs) are defending the broader bearish move, while the uptick in the red Tenkan-sen line is suggesting robust buying interest off the four-and-a-half-month bounce. The short-term oscillators are indicating growing upside momentum, …

GBPJPY powers up as negative risks endureRead More

EUR/USD Outlook: Bears Remain in Play but Face Headwinds from Key Supports, ECB in Focus

The Euro hit new 3 –1/2 month low (1.1751) in European session on Wednesday. But bears started to face headwinds on approach to key supports at 1.1704/1.1694 (2021 low, posted on Mar 31 / Fibo 38.2% of 1.0635/1.2349 rally), that resulted in subsequent 40-pips bounce. Negative studies maintain overall bearish picture. Expectations that the ECB …

EUR/USD Outlook: Bears Remain in Play but Face Headwinds from Key Supports, ECB in FocusRead More

EURJPY Hits 4-Month Low, Pivot Area Could Be Nearby

EURJPY raised the odds for a bearish trend reversal following the drop below the long-term ascending trendline and the Ichimoku cloud, with the 20- and 50-day simple moving averages (SMAs) further enhancing the bearish case after their recent intersection. The price is currently consolidating Monday’s losses around a four-month low of 128.87 as the downward …

EURJPY Hits 4-Month Low, Pivot Area Could Be NearbyRead More

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