Crude Oil Price Showing Bearish Signs Below $39
Key Highlights Crude oil price started a sharp decline after it failed to clear the $41.40 resistance area. There was a break below a key contracting triangle at $39.65 on the 4-hours chart of XTI/USD. The US Durable Goods Orders...
EURCHF Rests In Ichimoku Cloud, Fails To Improve Bullish Picture
EURCHF is failing to boost the upside direction in the very short-term as the price is standing within the Ichimoku cloud. The RSI is falling below the 50 level while the MACD is still holding above the trigger line. Moreover,...
GBPUSD Holding 1.3000
The British pound is holding the 1.3000 support level against the US dollar currency, as pair attempts to recover recent losses. Technical analysis shows that the GBPUSD pair could test towards the 1.3160 area if the 1.3050 resistance zone is...
AUDUSD Consolidates Under 100-MA, Tilting Picture Bearish
AUDUSD is creeping sideways in the Ichimoku cloud after the 100-period simple moving average (SMA), at the cloud’s upper surface, capped advances off the 0.7020 mark. The gradual downward sloping SMAs are upholding a bearish tone, while the positively charged...
AUD/USD Broke 0.7150 Level, But Struggled to Continue Higher
The Aussie Dollar gained pace above the 0.7100 resistance level against the US Dollar. The AUD/USD pair even broke the 0.7150 level, but it struggled to continue higher. As a result, there was a downside correction and the pair tested...
WTI Oil Outlook: Drops Over 2% On Growing Demand Concerns
WTI oil opened with gap lower and fell over 2% during Asian / early European session on Monday, hit by fresh wave of risk aversion. Oil extends last week’s losses which resulted in weekly close below psychological $40 level and...
Ready for a Breakout? EUR/AUD
Next week the ECB meets, and economists feel they will likely keep stimulus “unchanged” while they wait for staff projections at the December meeting. Meanwhile, the RBA recently suggested that they are ready to buy longer term bonds and provide...
GBP/USD Outlook: Deeper Pullback Likely to Precede Fresh Attack at Key Fibo Barrier
Cable edged higher on Friday on fresh optimism over Brexit, pausing after Thursday’s 0.5% drop, but near-term risk remains for deeper correction before bulls regain control. Wednesday’s massive advance stalled at key Fibo barrier at 1.3173 and profit-taking pushed the...
GBP/USD Trades Within Ascending Channel
During Friday morning hours, the GBP/USD exchange rate has reversed north from the weekly R1 at 1.3049. It is likely that some upside potential could prevail in the market, and the currency pair could re-test the upper line of the...
USD/JPY Pressured By 55-Hour SMA
Since Thursday, the USD/JPY currency pair has been testing the resistance provided by the 55-hour SMA. If the predetermined resistance holds, it is likely that some downside potential could prevail in the market. The exchange rate could target the support...
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