EUR/USD Outlook: Near-Term Bias Remains Negative Below Broken Neckline
The Euro weakened on Monday, remaining at the back foot, despite strong rally on Friday (up 0.89% for the day) that formed bullish engulfing pattern on daily chart. The action stays for the fourth straight day below the neckline of...
Gold Fails To Increase Buying Interest, Holds In Descending Channel
Gold has been holding in a bearish sloping channel over the last six months, developing beneath the simple moving averages (SMAs) and the Ichimoku cloud in the daily timeframe. Technically, the stochastic oscillator posted a bullish crossover within the %K...
GBPUSD Restores Positive Tone; Bullish in Near-Term
GBPUSD is currently stepping above the 50-period simple moving average (SMA) at 1.3686 after the price was violently catapulted from beneath the 200-period SMA at 1.3607. The price is sustaining a solid upwards force above the tentative trend line, drawn...
WTI Oil Outlook: Improved Sentiment Lifts Oil Price To One-Year High
WTI oil cracked $57 barrier and hit new one-year high on Friday, lifted by hopes that economic recovery will accelerate and boost demand, while OPEC and its allies are expected to maintain supply curbs. Oil price rallies for the fifth...
EUR/USD Outlook: Technical Studies Point To Further Weakness But US Jobs Data Likely To Be The Key Driver
Spot gold is consolidating above new two-month low ($1785) posted on Thursday after 2.2% daily drop (the biggest one-day loss since Jan 8) which broke and closed below psychological $1800 level. The yellow metal came under increased pressure from stronger...
GBP/USD Trades At 1.3700
During Friday morning hours, the GBP/USD exchange rate pierced the weekly PP at 1.3694. It is likely that the currency pair could gain support from the 55-, 100– and 200-hour SMAs in the 1.3650/1.3684 range. Thus, some upside potential could...
USD/JPY Tests 105.60 Level
Since today’s early morning hours, the USD/JPY currency pair has been testing the 105.60 level. It is unlikely that some downside potential could prevail in the market due to the support area formed by the 55– and 100-hour SMAs, as...
XAU/USD Could Decline In Short Term
Yesterday, the XAU/USD exchange rate declined to the 1,790.00 level. It is likely that some downside potential could continue to prevail in the market, as yellow metal could be pushed down by the 55-hour moving average near 1,817.45. The rate...
LTCUSD Correction Over
Litecoin appears to be looking more bullish in the short-term, following a short-lived technical correction towards the $140.00 support area. In the near-term, gains above the $160.00 level are required to gain upside momentum towards the $180.00 resistance zone. To...
BTCUSD Holds Support
Bitcoin is starting to look ready to rally once again after bulls were able to defend key technical support, around the $36,000 area. The BTCUSD pair is currently probing towards the top of a triangle pattern and looks set to...
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