USD/JPY Outlook: Bulls Pressure Psychological 110 Barrier, Close Above 200WMA is Crucial
Strong bullish acceleration extends into second day and breaks through Fibo barrier at 109.56 (76.4% of 111.71/102.59), on track for eventual weekly close above 200 WMA (109.31) that would add to strong bullish signals. Bulls approach targets at 109.85 (June...
GBPUSD Rises After Finding Support At 7-Week Low
GBPUSD has recorded a stunning rally since yesterday, finding support at the seven-week low of 1.3670. The price advanced above the 20-period simple moving average (SMA) in the 4-hour chart, with the RSI currently increasing positive momentum above the 50...
EUR/USD Extends Decline
The decline of the EUR/USD continued, as the 1.1800 level was passed on Thursday and the rate reached the 1.1762 level. The rate rebounded from the 1.1762 mark and began a recovery. By the middle of Friday’s European trading hours,...
GBP/USD Breaks Pattern
The support of the 1.3670/1.3675 zone was enough for the currency exchange rate to break the channel down pattern. Moreover, by the middle of Friday’s trading, the rate had passed the resistance of the 55 and 100-hour simple moving averages....
Elliott Wave View: GBPJPY Ended Correction
Rally from September 21, 2020 low in $GBPJPY is unfolding as a 5 waves impulse Elliott Wave structure. Up from September 21, 2020 low, wave (1) ended at 140.7 and pullback in wave (2) ended at 136.79. Pair resumed higher...
GBP/CAD Bearish Move Could Restart
The GBP/CAD is having a retracement. A temporary low close to D L5 camarilla has been formed. If the market retraces, we should see a move towards 1-2-3 entry at the POC zone which is 1.7282-1.7295. The POC zone should...
CHF/JPY 4H Chart: Decline Likely To Continue
The Swiss Franc has edged lower by 213 pips or 1.80% against the Japanese Yen since last week’s trading sessions. The exchange rate breached the 50– and 200– period SMAs this week. Technical indicators flash selling signals on the 4H...
Elliott Wave View: DAX Correction Near Complete
DAX Short term Elliott Wave View suggests that the rally from January 28, 2021 low is unfolding as a 5 waves impulsive Elliott Wave structure. The Index ended wave 3 of this impulsive rally at 14804.01. Internal of wave 1...
EURUSD Slips to 4-Month Low Near 1.18
EURUSD is creating several sessions of losses in the 4-hour chart, recording a fresh four-month low marginally above the 1.1800 handle earlier today. The price started a strong negative movement after the pullback on the double top level of 1.1990,...
USD/JPY Shallow Wave-4 Correction Indicates Bullish Targets At 110
USD/JPY is creating a sideways correction after a massive impulse upwards (blue arrow). The bulls are expected to push price action even higher. The USD/JPY bullish momentum is probably a wave 3 (grey). The strong AO (awesome oscillator) and ecs.MACD...
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