AUDJPY Wave Analysis
AUDJPY reversed from resistance level 95.66 Likely to fall to support level 92.00 AUDJPY currency pair recently reversed down from the strong resistance level 95.66 (which stopped the multi-month uptrend in April), coinciding with the upper daily Bollinger Band. The...
Gold Price Technical Analysis 13th June 2022
Gold price started a fresh increase from the $1,825 support zone against the US Dollar. The price broke the $1,840 resistance to move into a positive zone. Besides, there was a clear move above a major bearish trend line with...
GBPUSD Tumbles after Stronger US CPI Print
GBPUSD has been in a downtrend after it failed to jump beyond the 1.2600 region, generating a profound structure of lower highs and lower lows. Additionally, the price has sharply dropped beneath both the 200-period simple moving average (SMA) and...
EUR/USD: Euro Stands at the Back Foot ahead of Today’s Key Event – US Inflation Data
The Euro is trading within a narrow consolidation in European session on Friday, but keeps negative tone, following 0.92% post-ECB drop on Thursday. The single currency lost ground as traders were disappointed by a lack of firmer signals from the...
EUR/USD Pair Moved into a Bearish Zone Below $1.0700
The Euro started a fresh decline from the 1.0775 resistance zone against the US Dollar. The EUR/USD pair traded below the 1.0700 support zone to move into a bearish zone. The price even traded below the 1.0680 level and the...
WTI Oil Futures Approach Crucial Territory; Bias Bullish
WTI oil futures (July delivery) extended their series of higher highs up to $123.15 on Wednesday before easing a bit – the highest in three months – aiming to mark a fourth consecutive week of wins. The 78.6% Fibonacci retracement...
Elliott Wave View: EURJPY Should Continue to Find Support
EURJPY shows an incomplete bullish sequence from March 2022 low favoring further upside. The 100% – 161.8% Fibonacci extension from March 2022 low can see pair reaching 148.3 – 158 level in the medium term. Short term Elliott Wave view...
US 100 Index Halts Decline But Retains Bearish Bias
The US 100 stock index (cash) has been experiencing a minor pullback after its advance failed to cross above the 12,940 region. Nevertheless, the ascending 50-period simple moving average (SMA) is closing the gap with the 200-period SMA, where a...
GBP/USD: Cable Stands at the Front Foot on Monday Ahead of Key Event Today – Confidence Vote on PM Johnson
Cable bounces from the dangerous 1.2470 zone (Fibo 38.2% of 1.2155/1.2866 upleg / converged 20/30DMA’s) but remains within a narrowing congestion which extends into fourth straight day, awaiting the key event today – a confidence vote on UK Prime Minister...
New Beginning for the Canadian Dollar
Recently, the Bank of Canada hiked the interest rates by 50 basis points. It is now 1.5%, and it’s only the beginning. The policy rate may directly go to the top, or even above, what the Bank of Canada considers...