Category: Technical analysis of Forex market

EURCHF has plunged back below the simple moving averages (SMAs) after positive price action was halted around the 1.0763-1.0771 resistance band. The bearish bearing of the SMAs is backing the pair’s negative trajectory. The short-term oscillators are also signalling that downside pressures are growing. The MACD, in the positive section, is dipping and has neared …

EURCHF’s Upside Looks Bleak as Seller’s LeadRead More

The Dow Jones rallies as investors look past macro concerns and focus on earnings instead. The break above the supply zone around 35000 has prompted the bears to cover. The index then went on to recoup most losses from the September sell-off. With the short-side out of the picture, sentiment might have turned around. 35500 …

US 30 Recovers To Previous PeakRead More

The US 500 (Cash) index has strongly rebounded off the 4,270 barrier and the momentum indicators now suggest that the market sentiment is back to bullish as the MACD is entering the positive region, holding above its trigger line. Also, the RSI is pointing northwards above the 50 level and the price has surpassed the upper boundary of the Ichimoku cloud, …

US 500 Index Returns to Gains; More Bullish Outlook is ExpectedRead More

The Eurozone single currency has edged lower by 2.18% against the British Pound since the beginning of October. The currency pair breached the 0.8500 support level last week. All things being equal, the exchange rate could continue to trend lower during the following trading sessions. The potential target for bearish traders will be near the …

EUR/GBP Decline Could ContinueRead More

Key Highlights GBP/USD started a decent increase above the 1.3650 resistance. A major rising channel is forming with support near 1.3690 on the 4-hours chart. EUR/USD is facing an uphill task near the 1.1650 region. Gold price declined heavily from the $1,800 resistance zone. GBP/USD Technical Analysis The British Pound started a steady increase above …

GBP/USD Could Rally If It Clears 1.3800Read More

The WTI oil price extends advance into seventh straight week, hitting new highest since October 2014 on Monday, extension of last week’s 3.6% advance. Strong recovery in global oil demand on easing Covid restrictions and increased consumption on energy crunch that prompted a massive gas to oil switch for power generation, as gas prices skyrocketed. …

WTI Rises for the Seventh Straight Week on Energy Crunch, Fears of Supply ShortageRead More

The Aussie Dollar started a steady increase from the 0.7320 support zone against the US Dollar. The AUD/USD pair broke the 0.7400 resistance zone and the 50 hourly simple moving average. A high was formed near 0.7439 before there was a downside correction. There was a break below a key bullish trend line with support …

AUD/USD Started a Steady Increase from 0.7320 SupportRead More

Key Highlights EUR/USD is attempting a recovery wave from the 1.1525 zone. It broke a key bearish trend line with resistance near 1.1550 on the 4-hours chart. GBP/USD is eyeing an upside break above the 1.3750 resistance. USD/JPY extended its rally above the 114.00 resistance. EUR/USD Technical Analysis The Euro extended its decline below 1.1600 …

EUR/USD Might Continue To Struggle Near 1.1650Read More

US Retail Sales for September MoM increased by 0.7% vs an expectation of -0.2%.  August’s print was also revised higher from 0.7% to 0.9%.  It appears Americans haven’t been affected yet by any increasing costs due to supply chain issues.  Retail sales ex-autos MoM for September were up 0.8% vs an expectation of 0.5% and …

Retail Sales Recap: American Consumer is Alive and WellRead More

The Euro started a fresh decline from well above 1.1600 against the US Dollar. The EUR/USD pair traded below the 1.1560 and 1.1550 support levels. A low was formed near 1.1524 and the pair is now attempting a recovery. It broke the 1.1550 level, but it is still well below the 50 hourly simple moving …

EUR/USD Pair Is Now Attempting A Recovery From The 1.1524 LowRead More