Market Morning Briefing: Aussie Has Been Fluctuating Within 0.7222-0.7000
STOCKS A strong surge in the Dow and DAX yesterday on the US Election day and that has reduced the danger of seeing a deeper fall that we had been mentioning for some time. We will have to se how...
Dollar Index Slumps From One-Month High, Tests Key Support Area
The US dollar index (December futures) sharpened its pullback from a one-month high of 94.28 on Tuesday, landing near the 20-period exponential moving average (EMA) in the four-hour chart. The 50% Fibonacci of the 94.77 – 92.43 downleg and the...
EUR/GBP 4H Chart: Decline Likely To Continue
The Eurozone single currency has declined by 1.68% against the British Pound since October 21. The currency pair breached the 0.9000 level during yesterday’s trading session. All things being equal, the EUR/GBP exchange rate could continue to edge lower during...
USDJPY Shifts Sideways; Broader Picture Bearish
USDJPY despite improving from the significant 104.00 support zone is transmitting a neutral-to-bearish tone, curbed by the gradual dip in the 100- and 200-period simple moving averages (SMAs). The flattening 50-period SMA is endorsing the horizontal price action, while mixed...
Gold Price Declined Below $1,900 Support Level To Move Into A Bearish Zone
Gold price started a fresh decline after it failed to clear the $1,912 and $1,915 resistance levels against the US Dollar. The price declined below the $1,900 support level to move into a bearish zone. The price even broke the...
EUR/USD Outlook: Bears Risk Fresh Acceleration On Break Of 1.1612 Pivot
The Euro remains in red for the sixth straight day and extends steep fall to the lowest in over one month in early Monday’s trading. The pair fell near 1.8% last week, driven by strong risk aversion and registered the...
Will US Dollar Reverse After Month End? DXY, Gold
Today is the last trading day in October, and the US Dollar has been bought over the last few day into month end, which may conclude after the London fix (11:00am ET). What happens then? Will the US Dollar reverse...
GBP/USD Revealed Descending Channel
The USD/GBP exchange rate has revealed a short-term descending channel. From a theoretical perspective, it is likely that the currency pair could continue to trade downwards within the given channel in the short term. The pair could re-test the lower...
USD/JPY Trades At 104.40
Yesterday, the USD/JPY currency pair touched the 104.70 level. During Friday morning hours, the pair re-tested the support level formed by the weekly and monthly S1s at 104.13. It is likely that the exchange rate could gain support from the...
XAU/USD Could Trade Downwards
On Thursday, the XAU/USD exchange rate declined to the 1,865.00 mark. Given that yellow metal is pressured by the 55-hour moving average near 1,880,50, it is likely that some downside potential could prevail in the market within the following trading...
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