EUR/USD Outlook: Bulls Lose Traction at Pivotal Fibo Barrier and Generate Initial Signs of Stall
Bulls started to lose steam on approach to 1.1900 barrier as the uptrend from 1.1745 struggles at 1.1878 Fibo level (76.4% of 1.1919/1.1745) for the second day. Tuesday’s inverted hammer candle gives initial warning of stall, as candles of last...
GBPJPY Holds Within Squeezed Bollinger Band, Lacks Direction
GBPJPY has been moving in a horizontal trajectory over the last week, failing to improve the rebound on the 137.60 support level. The Bollinger band is squeezing, suggesting a neutral bias, and the momentum indicators are flattening. The MACD is...
Gold Price Approaching Next Key Break, Dollar Weakens
Key Highlights Gold price is trading above the $1,850 and $1,860 support levels. A major bullish trend line is forming with support near $1,870 on the 4-hours chart of XAU/USD. EUR/USD climbed above 1.1850, and GBP/USD surpassed the 1.3200 resistance....
XAU/USD Remains Below 200-Hour SMA
Yesterday, the XAU/USD exchange rate touched the 1,870.00 level. During Tuesday morning, the rate was trading at 1,900.00. From the one hand, it is likely that yellow metal could gain support from the 55– and 200-hour moving averages in the...
USD/JPY Could Decline In Short Run
On Monday, the USD/JPY currency pair reversed south from the Fibo 23.60% at 105.03. During today’s morning, the pair declined below 104.40. It is likely that the exchange rate could decline in the nearest future as it is pressured by...
GBPUSD: Bulls Expected to Remain Intact above Daily Cloud, but Initial Negative Signals Developing on Weekly Chart Require Caution
Attempts to extend last Friday’s 0.65 advance stalled on Monday, as jump to the session high (1.3241) was so far short-lived and the action returned below 1.3200 handle. Larger uptrend from 1.2675 (23 Sep low) remains in play, with pullback...
Currency Pair of the Week: USD/TRY
The Coronavirus is raging throughout the United States. The US is now consistently reporting over 150,000 new daily cases. Lockdowns and restrictions are looming. There is also a new US President-elect who wants to raise taxes on the wealthy. Yet...
EUR/USD Outlook: Bulls Eye November’s High As Risk Sentiment On Vaccine Persists
The Euro extends recovery on Monday and hit one-week high, boosted by risk appetite on corona-virus vaccine and hopes for a free-trade agreement within the world’s largest trade bloc, formed by fifteen Asia-Pacific economies, that for now offsets negative impact...
Dr. Copper Giving Clues about USD/CNH?
The price of cooper is said to be a sign of economic growth and weakness. Hence, it is nicknamed Dr. Copper because when the economy is weak, one just needs to look to “the Doctor” to see if it is...
GBP/USD Outlook: Cable Rebounds after 1.2% Drop, But On Track to End Week in Doji Candle
Cable rebounds on Friday, inflated by news of resignation of Dominic Cummings, British PM Boris Johnson’s most powerful adviser. Cummings was the mastermind of 2016 Brexit referendum and Johnson’s 2019 election win, is the second person from the closest circle...
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