EUR/JPY Trades Above 129.60
The common European currency declined by 63 pips or 0.48% against the Japanese Yen on Thursday. The currency pair tested the support level at 129.66 during Thursday’s trading session. If the EUR/JPY exchange rate breaks the support line, as mentioned...
Elliott Wave Analysis: Dax Can Retest 15k Psychological Support Level
DAX is coming down as expected, after five sub waves up within wave 5, with the current price breaking the trendline support so we see a new corrective set-back which can be wave 4 now at former wave four support...
GBPJPY Tries To Repower Positive Bearing
GBPJPY has dipped below the 50-day simple moving average (SMA) and into the Ichimoku cloud but is struggling to break below the 149.50 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 136.95 until 153.40....
GBPUSD Gains Positive Traction Near 200-SMA, Upside Move Fragile
GBPUSD returned most of its weekly wins, but the bullish breakout above the descending channel remains valid, with the pair currently pushing for a rebound near the 200-period simple moving average (SMA) on the four-hour chart. The recent golden cross...
EURUSD Awaiting PMI Data
The euro currency has fallen back towards the 1.2000 level against the US dollar, as traders remain anxious ahead of preliminary EU PMI data. A bearish head and shoulders pattern is a warning of a coming 65 point price drop...
GBP/USD Outlook: Sterling Dips on Fresh Safe-Haven Dollar Buying
Cable accelerated lower on Thursday and broke pivotal Fibo support at 1.3879 (38.2% of 1.3669/1.4008 upleg), driven by stronger dollar on fresh safe-haven buying after India reported record number of new COVID cases, while better than expected US weekly jobless...
EURUSD Ticks Up Above SMAs, Bullish Bias
EURUSD is posting a strong upside rally after the bounce off 1.1700, holding for now above the 1.2000 psychological mark. Currently, the price is holding marginally beyond the 20-period simple moving average (SMA) and the RSI is ticking higher in...
GBP/JPY: Uphill Task Above 151.00, Key Support Nearby
Key Highlights GBP/JPY failed to surpass 152.00 and declined towards 150.00. Many hurdles are forming near 151.00 and 151.30 on the 4-hours chart. GBP/USD corrected gains after testing the 1.4000 resistance zone. The UK CPI increased 0.7% in March 2021...
GBPJPY Rests on 50-MA Within a Trading Range
GBPJPY is edging across the 50-period simple moving average (SMA) and price action appears to have become confined to the vicinity between the 50- and 200-period SMAs. All SMAs have adopted a horizontal demeanour and are endorsing the neutral price...
GOLD Tests Resistance Zone
As forecast, the yellow metal’s price has once again approached and tested the resistance of the 1,790.00 level. Namely, the price bounced off the resistance even before it approached it. During the early hours of Wednesday’s trading, the price had...
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