AUDUSD Completes ‘Death Cross’ But Bullish Structure Intact
AUDUSD has been marching higher after finding its feet at the 22-month low of 0.6828 in early May. However, the pair’s advance is currently on pause as the 200-day simple moving average appears to be acting as a strong resistance...
GOLD ( $XAUUSD) Forecasting The Rally After Elliott Wave Zig Zag Pattern
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of GOLD, published in members area of the website. As our members know, GOLD is giving us correction of the cycle...
GBPJPY Bullish Impetus Tackles Upper Bollinger Band
GBPJPY is attempting to push north of the high of 163.57 from the 5 May, coincidently where the upper Bollinger band is currently located. The pair is maintaining its bullish demeanour, forming its eighth daily consecutive green candle, after the...
EURAUD Penetrates the Uptrend Line But Finds Support at 23.6% Fibo
EURAUD is currently rebounding off the 23.6% Fibonacci retracement level of the down leg from 1.6220 to 1.4320 at 1.4767. The pair broke the uptrend line to the downside in the previous sessions, suggesting a bearish movement. The MACD is...
GBP/USD: Cable Remains Constructive But Downside Still Vulnerable; US Jobs Data in Focus
Cable is moving within a narrow range in early Friday and remains constructive after Thursday’s 0.75% advance. Technical picture is mixed, as moving averages of 10/20/30 days are conflicting, bullish momentum is weaker and RSI neutral. Falling daily Ichimoku clouds...
EURGBP Defends Series of Higher Highs; Eyes on 0.8594
EURGBP has been gradually gaining ground over the past week, with the 20-day simple moving average (SMA) buffering any selling pressures on the way up and hence defending the latest rebound on the key 200-day SMA at 0.8440. The fact...
Bank of Canada Hikes Rates 50bps. Will Act More Forcefully If Needed!
Although the Bank of Canada raised rates by only 50bps today, the statement was clearly hawkish. The Bank of Canada hiked interest rates by 50bps to 1.5%, as expected. However, the announcement may have disappointed some, as rumors were swirling...
USDJPY Wave Analysis
USDJPY reversed from support level 127.00 Likely to rise to resistance level 129.65 USDJPY recently reversed up from the key support level 127.00 (which stopped wave (ii) in April), intersecting with lower daily Bollinger Band and by the 50% Fibonacci...
GBP/USD: Pound Eases on Weak Data, Firmer Dollar
Cable holds in red on Tuesday, as dollar rose on month-end demand, while weaker than expected UK mortgage approvals data added to negative near-term tone. Traders also worry that soaring inflation may significantly hurt consumer demand that would further pressure...
AUDUSD’s Sturdy Two-Week Rally Tries to Keep Pace
AUDUSD is starting to ease from the upper Bollinger band that is around the 0.7200 hurdle, after recent price action, which was glued to the upper Bollinger band, hiked the price above the falling 200-period simple moving average (SMA). The...