USDJPY’s Gradual Nose-Dive Continues Below Falling SMAs
USDJPY is in the process of plummeting further testing key troughs and is currently attached beneath the 103.65 level, which happens to be the 76.4% Fibonacci retracement of the up leg from 101.17 to 111.71. Furthermore, the pair maintains a...
Gold Weakens Despite The Bullish Picture In Short-Term
Gold has had a bullish tendency in the short-term, climbing to a new six-week high of 1,906 before it slipped below the simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the up leg from 1,764 to 1,906...
Silver Spot: Key Resistance At 25.7500
Pivot (invalidation): 25.7500 Our preference Short positions below 25.7500 with targets at 24.9200 & 24.6700 in extension. Alternative scenario Above 25.7500 look for further upside with 26.0800 & 26.5000 as targets. Comment The RSI is mixed with a bearish bias.
NZDUSD Plummets From 32-Month High, Bullish Outlook Intacts
NZDUSD has come under renewed selling pressure, falling below the 20-day simple moving average (SMA) and remaining well below the 32-month high of 0.7160. Despite the latest pullback though, the pair has been in a long-term ascending tendency since March...
USDCAD Steadfast Re-targets the 200-MA
USDCAD is headed to retest the 200-period simple moving average (SMA), after finding a foothold on the cloud’s upper surface and the 100-period SMA around 1.2819. The price bounce came after the 200-period SMA curbed the rally, which started from...
XAU/USD Trades Beow 55-Hour SMA
Since Tuesday, the XAU/USD exchange rate has been trading below the resistance provided by the 55-hour SMA near 1,883.00. If the predetermined resistance holds, it is likely that some downside potential could prevail in the market. The price for gold...
EURUSD Bullish Above 1.2170
The euro currency has started to recovery against the US dollar after sellers failed to build on the early-week downside momentum. Technical analysis shows that a bearish rising wedge pattern has formed, with the 1.2170 level the key area to...
Crude Oil Plunges on New Coronavirus Strain
Another negative issue for the oil appeared today, a new coronavirus strain, which was announced found by the World Health Organization in the Netherlands, Denmark, and Australia. This information elevates risks that the coronavirus pandemic might not be “beaten” soon...
EURGBP Set To Give Up Some Ground After Sharp Rebound
EURGBP is retracing the sharp increase that followed the positive large-gap open earlier today after failing to extend gains beyond 0.9200. The price has significantly stretched above the upper Bollinger band and the RSI is set to exit the overbought...
EUR/USD Sets New 2020 High, Oil Inches Towards $50
Key Highlights EUR/USD surpassed 1.2000 and traded to a new 2020 high at 1.2272. A major bullish trend line is forming with support near 1.2180 on the 4-hours chart. Gold price rallied towards $1,900, and crude oil price is approaching...
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