GBPUSD Tumbles Around 1.39 And Below 100-Period SMA
GBPUSD has come under renewed selling interest today around 1.3900, diving below the 100-period simple moving average (SMA) in the 4-hour chart. The price is hovering in the Ichimoku cloud and the technical indicators are suggesting a downside movement. The...
AUD/JPY Is Setting Up For A Retracement
The AUD/JPY is in uptrend but the point 2 of retracement showed a nice move down. We could assume that we might see a further drop. The POC zone 84.30-84.60 is the point 3 where we might see a move...
EUR/NZD Bullish Reversal After Bounce At Key -27.2% Fib Target
EUR/NZD has made a bullish bounce at the -27.2% Fibonacci target. Is this pair ready for a larger reversal after its 3,500 pip decline? The EUR/NZD downtrend is not officially over yet. But there is a fair chance that a...
GOLD Breaks Patterns And Drops
The yellow metal found resistance in the 1,740.00 level, which was enough for it to decline. The decline was only slowed down by the 55-hour simple moving average. However, eventually the SMA failed. By mid-day on Friday, the metal had...
GBPJPY Flashes Green As Buyers Take Full Control
GBPJPY in the last nine days has logged only one bearish doji candle and it seems set to push to new heights as upside pressures continue to overpower. It appears the pivot at 147.39 gained significant traction refuelling the rally...
Elliott Wave View: EURUSD Correction Maybe Completed
Short term Elliott Wave View suggests that EURUSD ended wave ((4)) pullback at 1.1834. Internal of wave ((4)) unfolded as a zigzag Elliott Wave structure where wave (A) ended at 1.1951, wave (B) ended at 1.2243, and wave (C) ended...
EURGBP Tiptoes Around Bottom Base; Bearish Bias Holds
EURGBP is currently crawling across the floor of 0.8538-0.8557, the latter being a 1-year low on February 24, where the pair rejected the level. The gliding simple moving averages (SMAs) are dictating the bearish picture, while the flattening Ichimoku lines...
CHF/JPY 4H Chart: Decline Could Continue
The Swiss Franc has been declining in a descending channel pattern against the Japanese Yen since the middle of February. The currency pair fell by 1.06% during last week’s trading sessions. As for the near future, the CHF/JPY exchange rate...
USD/CHF Starts Corrective Decrease, Dollar Facing Hurdles
Key Highlights USD/CHF traded as high as 0.9375 before correcting lower. There was a break below a key bullish trend line with support at 0.9315 on the 4-hours chart. EUR/USD and GBP/USD consolidating above major support levels. The US Consumer...
AUD/USD: Firm Break above 55DMA to Signal Fresh Recovery
The Australian dollar gained traction after soft US inflation data and probing above the top of near-term congestion, limited by 55DMA (0.7720). Fresh recovery attempts after repeated failures to clearly break into rising daily cloud (the action was contained by...
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