A Brexit Deal May Happen Over the Weekend: GBP/USD, EUR/GBP, GBP/CAD
Over the past month, it seems that almost daily a Brexit trade deal could be reached. However, comments from both sides have changed seemingly almost every hour, causing volatility in GBP pairs. This past week, traders appear to believe that...
Crude Oil Set for Seventh Straight Weekly Gain
WTI oil is set to resume rally after narrow consolidation just under new multi-month high on Friday and on track for the seventh straight week of gains. Strong bullish sentiment is boosted by vaccine hopes as more countries give green...
NZDUSD Finds Support At 20-Period SMA, Positive In Medium-Term
NZDUSD is rising after the downside pullback off the 32-month high of 0.7170, which hit the 20-period simple moving average (SMA) at 0.7110. The RSI is pointing marginally up after the falling move from the overbought territory, while the MACD...
GER 30 Index Eyes February’s Record High, Bias Bullish
The German 30 index (cash) is in a breathing distance from February’s record high of 13,826 after finally breaching the tough resistance bar of 13,460. The technical picture continues to look constructive for additional gains as the red Tenkan-sen line...
GBPUSD Maintains Bullish Tone Despite Pullback
GBPUSD is currently finding some footing on the mid-Bollinger band around 1.3491, after reversing from a resistance band of 1.3607-1.3629, where it formed a 31½-month high of 1.3623. The rising simple moving averages (SMAs) are continuing to back price’s intact...
USD Index Outlook: Dollar Consolidates Above New 2 1/2 Year Low Before Bears Resume
Bears are taking a breather above new 2 1/2 year low on Friday, as traders collected some profits on 1% weekly fall. The dollar index broke through psychological 90 support, generating bearish signal for extension towards key med-term support at...
USD/JPY Trades Near 103.60
On Thursday, the USD/JPY currency pair reversed north from the support level—the weekly S3 at 103.00. From the one hand, it is likely that the exchange rate could remain under pressure of the 100-hour SMA near 103.60. Thus, the rate...
AUD/USD Bulls Likely To Prevail
The Australian Dollar surged by 58 points or 0.77% against the US Dollar on Thursday. The currency pair breached the weekly R1 at 0.7610 during yesterday’s trading session. All things being equal, the exchange rate could continue to edge higher...
CADJPY Falls from 10-month High but Outlook Still Positive
CADJPY has been showing an upside tendency since May 7, creating higher lows along a tentative ascending trendline. Despite the latest pullback from a ten-month high of 82.10, the price is still above its simple moving averages (SMAs), though the...
EUR/USD Trades Near 1.2240
During Thursday morning hours, the EUR/USD currency pair exceeded the weekly R2 at 1.2222. It is likely that now the exchange rate could gain support from the predetermined level and continue to trade upwards in the short term. Note that...
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