USDCHF Sets a Floor Near Fresh 6-Year Lows; Bearish Overall
USDCHF, capped by the 20-day simple moving average (SMA), inched down to a new six-year low of 0.8814 on Wednesday. While the recent negative correction resurfaced fears of a stronger downtrend, the 0.8824 support region, which acted as resistance back...
EURGBP’s Upside Drive Dwindles, Nourishing Range
EURGBP remains consolidated between the confines of 0.8860 and 0.9229, with the pair currently testing the flattening simple moving averages (SMAs). The horizontal SMAs are promoting the sideways picture, while the static Ichimoku lines are reflecting oxygen deprived directional momentum....
USD/JPY Pair Broke The 103.50 Support Zone To Move Into A Bearish Zone
The US Dollar started a fresh decline from well above the 103.80 zone against the Japanese Yen. The USD/JPY pair broke the 103.50 support zone to move into a bearish zone. The pair even settled below the 103.40 level and...
Gold In A Narrow Trading Range After Senate’s Stimulus Vote Delay
Gold is in a tight range around the 1,880 level in the four-hour chart, stubbornly refusing to dip inside the Ichimoku cloud and below the tough ascending trendline, which has been strictly supporting the market since the end of November....
BTCUSD Strong Pullback
Bitcoin has staged a strong technical pullback after the number one cryptocurrency hit a new all-time high, around the $28,600 level, earlier this morning. Technical analysis shows that the $30,000 level is the main resistance area to watch above $28,600....
EURUSD Heavy Rejection
The euro currency has reversed sharply lower against the US dollar after hitting a new yearly high, around the 1.2290 level, during the European session. Technical analysis highlights that an extremely large bearish reversal pattern will form if the current...
NZDUSD Exhibits Sturdy Bullish Bias, Upside Pressure Persists
NZDUSD is in the process of pushing past the fresh 32-month peak of 0.7171 after having recently found some traction off the blue Kijun-sen line. All the simple moving averages (SMAs) are defending the positive structure, while the bullish Ichimoku...
USDJPY Gets Another Rejection From 20-Day SMA, 103.00 Back In Focus
USDJPY is set for another battle around the 103.00 supportive area, which it failed to successfully breach two weeks ago, despite slipping to a new eight-month low of 102.86. The latest bearish correction follows another rejection near the 20-day simple...
USD/CAD Selling Signals
The US Dollar has declined by 57 pips or 0.44% against the Canadian Dollar since yesterday’s trading session. The currency pair breached the 200– hour simple moving average on Tuesday. Everything being equal, bears could continue to pressure the USD/CAD...
AUD/USD Bulls Could Prevail
The Australian Dollar has surged by 76 pips or 1.00% against the US Dollar since Tuesday’s trading session. The currency pair breached the weekly R1 at 0.7654 on Wednesday morning. All things being equal, the exchange rate could continue to...
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