Gold Storms to Fresh Lows as Negative Momentum Strengthens
Gold has been in a sustained downtrend after it failed to cross beyond the 1,857 region. Moreover, in the past few four-hour sessions, the price has dived beneath both 50- and 200-period simple moving averages (SMAs) and is currently battling...
USD/JPY Technical Analysis 29th June 2022
The US Dollar started a fresh increase from well below the 132.00 level against the Japanese Yen. The USD/JPY pair traded above the 134.50 resistance zone to start a fresh surge. The pair even climbed above the 136.00 level and...
AUD/USD: Aussie Remains Capped by 10DMA, Keeping Bearish Bias
The Aussie dollar eases from one-week high on Tuesday after failing to benefit more from positive news that China slashed Covid quarantine for international travelers. The price action fell back below 10DMA (0.6951) which caps the price since June 9...
EURJPY Posts Double Top Near 7-Year High
EURJPY has posted a double top around the more-than-seven-year high of 144.25 over the last couple of weeks. The MACD oscillator is extending its positive momentum above its trigger and zero lines; however, the RSI indicator is pointing slightly lower...
Crude Oil Is Consolidating
On Monday morning, the Brent price is balancing at $113 per barrel The commodity marker remains uncertain – the supply isn’t expanding as quick as it is expected to, and the demand might drop as well. China is cancelling lockdowns...
CHFJPY – Taking Advantage of Weakening Yen
First time since 2007, SNB have increased their interest rate by 50 basis points. This occured as soon as the FED raised their interest rates. We saw a surge in the market one that day in CHFJPY. Therefore, the next...
GBP/USD: Quiet and Directionless Phase Likely to Precede Fresh Weakness
Cable trades in a quiet and narrow-range mode in European session on Friday, with directionless action (long-legged Doji candles in past two days) extending into fourth consecutive day. Friday’s action remained unchanged on negative news as PM Johnson’s Conservatives lost...
GBPJPY Bullish Trend Dims; 20-SMA in Focus
GBPJPY is mirroring fading buying interest as negative momentum escalated on Thursday, confirming a lower high at 167.82. Similarly, the RSI seems to be following a negative trajectory after failing to reach its previous high, while the negative turn in...
USDCAD Shows Weak Signs Below Double Top at 1.2960
USDCAD is showing some weak signs today with the technical indicators confirming this view. The RSI indicator is moving south in the positive region, while the MACD oscillator is holding above its trigger and zero lines, but with softer momentum...
AUD/USD: Aussie Remains in Red as Weak Data Boost Growth Slowdown Fears
The Aussie dollar holds in red for the second consecutive day, following a double-rejection under psychological 0.70 barrier and came under increased pressure on downbeat economic data. Australia’s composite PMI which tracks the activity in manufacturing and services sectors, fell...