Market Morning Briefing: EURJPY Holds Below 130
STOCKS Equities remain under pressure. Dow has declined below 31000 and has room to test 30000. DAX remains stable within its 13800-142000 range for now. But the bias is bearish to see a downside breakout of this range. Nikkei is...
USDCHF Continues Uptrend Above 200-SMA, Overbought Signals Strengthen
USDCHF found new buyers above the 200-day simple moving average (SMA), advancing its bullish impulse towards a fresh six-month high of 0.9236 on Thursday. The buying appetite in the market drove the RSI and the Stochastics well into the overbought...
XAG/USD Tests 12-Month Long Trendline
Precious metals have taken a toll as the greenback made a comeback. Silver is trying to hold on to its near-year-long rising trendline, and a successful bounce could resume the uptrend. The double dip on the line (25.80) is a...
Market Morning Briefing: EURJPY Looks Stable Just Now While Below Immediate Resistance Near 130
STOCKS Asian equities are trading in the red and keep alive the chances of seeing a sharp fall going forward. Nikkei can fall to 28000-27000 while it remains below 30000 and Shanghai can test 3450-3400. Sensex and Nifty have surged...
USD/CHF and DXY Mending Their Broken Relationship
The Swiss Franc and the US Dollar Index (DXY) have been highly correlated this year, with a correlation coefficient above +0.90 for most of the year. The correlation coefficient of +1.00 indicates a perfect correlation, indicating that the 2 assets...
EUR/USD Bullish ABC Zigzag Aims At Fibonacci Targets
EUR/USD is showing signs of indecision: the bearish price action was stopped at the 1.20 support level and trend lines (green). What is going on with this pair? The bullish bounce was strong at 1.20. This suggests a wave A...
Gold Price Drops Toward $1,700, Upsides Capped
Key Highlights Gold price started a fresh decline below the $1,800 and $1,780 support levels. A key bearish trend line is forming with resistance near $1,780 on the 4-hours chart. EUR/USD remained well bid above 1.2000, whereas GBP/USD settled below...
USDCAD Struggles To Cement Gains As Bearish Bias Overpowers
USDCAD is somewhat caught between the 200- and 50-period simple moving averages (SMAs) after the impressive rally from the 3-year low of 1.2467, pulled back under the 200-period SMA. The downturn in the red Tenkan-sen line together with the flattening...
EURUSD Testing 1.2000
The euro currency continues to slide against the US dollar on Tuesday, with the pair now testing towards the psychological 1.2000 level. A break under the 1.2000 level is likely to provoke a further sell-off in the EURUSD pair towards...
US 500 Index Tests 50-MA and Weight of Bearish Pressures
The US 500 index (Cash) is trying to conquer the region from the 50-period simple moving average (SMA) until the 100-period SMA, after a foothold at the 3,788 level repowered the positive sentiment. The flattening out of the 100- and...
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