EUR/USD Remains Below 1.2180
Since Friday, the EUR/USD currency pair has been testing the resistance level at 1.2180. It is likely that the exchange rate could gain support from the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.2140/1.2160 range....
EURUSD 1.2200 Possible
The euro currency has started the new trading week with a positive tone against the US dollar, following a solid weekly price close. Technical analysis highlights that the 1.2200 level remains achievable while bulls continue to defend the 1.2170 support...
Bad Data, Possibility of Canceling Olympics Pushing USD/JPY Higher. Can it Continue into Fiscal Year-End?
The news was not good for Japan this week. First, Japan extended its state of emergency due to the coronavirus to 5 more Prefectures. In addition, the Bank of Japan downgraded their forecast for near-term growth. Inflation and PMI data...
EUR/USD Tests Weekly R1
During Friday morning hours, the EUR/USD currency pair tested the resistance level—the weekly R1 at 1.2185. If the predetermined resistance level holds, it is likely that some downside potential could prevail in the market. Note that the exchange rate could...
GBP/USD Continues To Trade Within Falling Wedge Pattern
Yesterday, the GBP/USD exchange rate bounced off the upper boundary of the rising wedge pattern. From a theoretical point of view, it is likely that the currency pair could re-test the lower pattern line located in the 1.3400/1.3600 area in...
XAU/USD Remains Below 1,875.00
As apparent on the chart, the XAU/USD exchange rate failed to surpass the 1,875.00 level. It is likely gold could gain support from the 100– and 200-hour moving averages near 1,850.00 and trade upwards in the short term. In this...
GBP/USD Bearish Reversal Chart Patterns After Hitting 1.3750
GBP/USD made a new higher high that hit the 1.3750 target as expected in my EU-GU video. But the uptrend seems to be struggling due to the reversal chart patterns. On the 4 hour chart, price action did manage to...
GBP/USD Outlook: Sterling Is At A Crossroads As Weak Data Hurt Bulls
Cable pulled back from new high in early European trading on Friday, pressured by weaker than expected UK data which showed weak recovery in retail sales in December after November’s plunge on lockdowns and downbeat PMI’s, as services sector was...
BTCUSD Still Bearish
Bitcoin has recovered above the psychological $30,000 level after taking a tumble under the $29,000 support level earlier this morning. The short-term trend in the BTCUSD pair remains bearish while the price trades below the $32,000 resistance level. Technical analysis...
GBPUSD Takes A Tumble
The British pound has tumbled back under the 1.3700 support level against the US dollar after the UK posted weaker Retail Sales data and the government threatened to close its borders. Technical analysis highlights that the 1.3660 level is the...
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