GBP/USD Outlook: Bulls Look for Firm Break of Psychological 1.40 Barrier
Cable returns above 1.40 mark and hits new 34-month high at 1.4052 after brief dip to 1.3980 in early European trading on Monday. Bulls attempt to sustain break above psychological 1.40 barrier after registering a marginal close above last Friday...
Gold’s Death Cross Flags Trend Deterioration As Bulls Push Higher
Gold is looking to claim the 1,790 resistance which kept the market on the downside over the past couple of days. The RSI is endorsing the current positive momentum in the price as the indicator is trying to recover after...
AUD/USD Breakout Out of Flag Formation; On its Way to 0.8400?
Last week, we discussed the possibility of AUD/USD making a run out of a flag pattern and towards a target of 0.8400. The move has begun, and Aussie traders will be eyeing the 0.8000 level first. So far, traders seem...
EUR/USD Bullish Reversal Indicating Start Of ABC Zigzag Pattern
The EUR/USD made a bullish bounce at the 50-61.8% Fibonacci retracement levels as expected in our EUR/USD and GBP/USD video earlier this week. The breakout above the resistance trend lines (orange) confirms the continuation of the uptrend (green arrows). The...
US 30 Index Fails To Jump To New Record High
The US 30 stock index (Cash) rebounded off the 29,642 support level, however, the current market reaction is flat around the record high of 31,718.90. The technical indicators are suggesting contradicting signals. The RSI is moving marginally higher in the...
Gold 1-2-3s Are The Best Trades So Far
The downside potential of Gold is big. Gold has been the best so far to trade as short traders enjoyed very good profits. Gold is in a strong bearish zig zag downtrend. We should see a continuation down to the...
EUR/USD Surges Above 1.2100
On Friday morning, the EUR/USD passed the resistance of the weekly simple pivot point and the 100 and 200-hour simple moving averages, which were located near the 1.2100 level. In the near term future, the rate was expected to test...
GBP/USD Passes Above 1.4000
The GBP/USD managed to pass the resistance of the weekly R1 on Thursday. On Friday morning, the GBP had extended its gains against the USD, as the rate had reached above the weekly R2 simple pivot point and the 1.4000...
USD/JPY Sharply Decline On Friday
On Friday morning, the USD/JPY passed the support of the 100-hour SMA and the pivot point at 105.62. This resulted in a sharp decline that was expected to look for support first in the 200-hour SMA at 105.20 and afterwards...
GOLD Is Pushed Down By SMA
As the resistance of the 55-hour simple moving average approached the yellow metal’s price from above, it pushed it into a test of the lower trend line of the recently added declining wedge pattern. On Friday morning, the lower trend...
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