GBP/USD: Repeated Close Below 1.40 to Keep Fresh Bears in Play
Cable stands at the back foot on Monday and remains below 1.40 mark after losing around 1.5% in past two days. Increased demand for dollar pushed sterling lower after bulls hit the highest level in almost three years (1.4238) last...
GOLD Breaks Pattern
The yellow metal’s price has broken the descending wedge pattern and almost immediately dropped to the 1,720.00 level. However, afterwards a recovery started and on Monday morning, the price was once again located near the 1,760.00 level. In the near...
Gold is Having a Rough Day; Can it be Stopped?
With the US Dollar screaming higher today, it’s no surprise that Gold is moving aggressively lower. In theory, the US Dollar and precious metals move inversely to one another. The reason is that gold is traded in US Dollars. So...
EUR/TRY 4H Chart: Two Scenarios Likely
Since November, the EUR/TRY exchange rate has been trading within a falling wedge pattern. From a theoretical perspective, it is likely that the currency pair could continue to depreciate within the predetermined pattern until the beginning of April. Then, the...
EUR/PLN 4H Chart: Falling Wedge Pattern In Sight
Since the beginning of January, the EUR/PLN currency pair has been trading within a falling wedge pattern. From a theoretical point of view, it is likely that the exchange rate could continue to decline within the predetermined pattern in the...
EUR/USD Trades Below 1.2180
Yesterday, the EUR/USD currency pair reversed south from the psychological level at 1.2240. It is likely that the exchange rate could be pushed down by the resistance area formed by the 55– and 100-hour SMAs, as well the weekly R1...
GBP/USD Touched 1.3900
The GBP/USD exchange rate has declined to the 1.3900 level. It is unlikely that some upside potential could prevail in the market due to the resistance area formed by the weekly PP and the 200-hour SMA in the 1.3960/1.4000 area....
USD/JPY Trades Above 106.20
On Thursday, the USD/JPY currency pair exceeded the weekly R1 located at 106.17. It is likely that now the pair could gain support from the given pivot point and the 55-hour SMA near 106.01. Thus, some upside potential could prevail...
XAU/USD Tests Lower Pattern Line
During Friday morning hours, the XAU/USD exchange rate was testing the lower boundary of the falling wedge pattern. From a theoretical point of view, it is likely that the price for gold could reverse north and increase in the nearest...
Gold Downtrend Continuing Towards 1720 Zone
As expected, Gold has made the move lower to 1755 zone. The downtrend is expected to continue towards 1720. If the market makes a pullback to the 78.6-88.6 zone we should see another leg of selling. We can also see...
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