Elliott Wave View: 5 Waves Rally In EURJPY Favors More Upside
Short Term Elliott Wave View in EURJPY suggests the decline to 125.07 low ended wave 2. Pair has started to turn higher in wave 3 as an impulsive structure. Rally from wave 2 low unfolded as 5 waves leading diagonal...
US 30 Index’s Pullback Contested by 38.2% Fibonacci
The US 30 stock index (Cash) has found footing on the 30,047 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 26,065 until 31,284, after receding from its latest all-time high of 31,284. Yesterday’s losses...
EURAUD Rallies Above 200-SMA After Double Bottom Emerges
EURAUD completed a bullish double bottom formation in the four-hour chart and spiked to a three-week high of 1.5946 on Thursday after closing comfortably above the 1.5770 neckline. The area around the 200-period simple moving average (SMA), which has seen...
USD/CHF Is Facing Significant Resistance Near 0.8920
Key Highlights USD/CHF started a fresh increase after testing the 0.8840 support. It is now facing a strong resistance near 0.8920 on the 4-hours chart. EUR/USD failed to surpass the 1.2200 resistance zone, GBP/USD is correcting gains. The US Gross...
WTI Oil: Slump in Crude Inventories Boosts Bulls for Another Probe through Key 200WMA
WTI oil price jumped after data showed unexpected and sharp fall in US crude inventories which plunged 9.9 million barrels, following last week’s build of 4.3 million barrels and expectations for 0.4 million barrels rise. Today’s report from the Energy...
GBPUSD 1.3800 In Focus
The British pound is on the rise against the US dollar this morning, with the pair hitting a new multi-year high around the 1.3760 level. Dip-buyers may be looking for a chance to enter into the established bullish trend if...
GBP/USD Looking for a New High to Retest the Upper Side of a Wedge
Pound keeps moving higher as intraday sentiment turned against the US currency as US stocks indexes keep trading at ATH. Technically speaking, cable made only a three wave drop within a corrective channel that found a support at former wave...
WTI Futures Extend Consolidation; Upside Risks Remain
WTI oil futures are pushing slightly higher within a sideways market that has progressed after oil touched a near 11-month high of 53.92. The easing in the incline of the 50-period simple moving average (SMA) and the directionless Ichimoku lines...
Gold Prices Confined To Friday’s Range
The precious metal is trading subdued with much of price action staying within the range from last Friday. As a result, price action is seen consolidating near the 1850 level of support multiple times. This consolidation could potentially give way...
AUDUSD Threatening Further Downside Pressure
AUDUSD remains biased to the downside in the new week. On the downside, support comes in at the 1.7650 level. A cut through here will turn focus to the 0.7600 level and then the 0.7550 level. A violation will set...
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