GBPJPY’s Advances Capped By 50-Day SMA, Pair Adopts Neutral Tone
GBPJPY appears to have stalled around the mid-Bollinger band at 135.78, after efforts to push higher were curbed by the 50-day simple moving average (SMA). The pair is edging east as directional momentum has taken the back seat. Despite their...
EUR/JPY Analysis: Selling Signals
The single European currency declined by 59 basis points or 0.48% against the Japanese Yen on Thursday. The currency pair tested the lower boundary of a narrow descending channel pattern during yesterday’s trading session. Everything being equal, the 50– hour...
AUD/USD Analysis: Decline Likely To Continue
The Australian Dollar declined by 79 basis points or 1.10% against the US Dollar on Thursday. The currency pair tested the lower line of a descending channel pattern at 0.7060 during Thursday’s trading session. All things being equal, the exchange...
USD/CAD Anlaysis: Breakout Occurs
The US Dollar surged by 97 basis points or 0.74% against the Canadian Dollar on Thursday. A breakout occurred through the upper line of a descending channel pattern during Thursday’s trading session. Given that a breakout has occurred, the exchange...
USD/JPY Could Nosedive If It Breaks 105.00
Key Highlights USD/JPY started a downward move after it failed to surpass the 106.00 resistance. It traded below a key bullish trend line with support at 105.60 on the 4-hours chart. EUR/USD extended its decline below 1.1720, GBP/USD revered gains...
EURUSD May Edge Sideways; Retreat Hits a Wall Around 1.1700
EURUSD has been on a downward trajectory lately after the recent decline from the 1.1830 high and under the simple moving averages (SMAs), but the pair encountered support near the 1.1700 level and has subsequently rebounded a little. The diving...
ZAR/JPY 4H Chart: Two Scenarios Likely
The ZAR/JPY exchange rate continued to trade within the symmetrical triangle pattern. From a theoretical perspective, it is likely that the currency pair could continue to trade sideways within the predetermined pattern until the second half of November. Meanwhile, note...
USDJPY Vulnerable, Extends Weakness
USDJPY looks to move further lower after selling off on Wednesday. On the downside, support comes in at 105.00 level. Below this level will turn attention to the 104.50 level. Further down, support is seen at the 104.00 level. A...
EURGBP Declines Steeply in Short-Term; Holds in Descending Channel
EURGBP has lost significant ground over the last 4-hour session, finding resistance at the lower surface of the Ichimoku cloud. The price has been developing within a descending channel since September 15 and the RSI is confirming this negative bias as it is...
GBP/USD Pair Started A Fresh Decline And Traded Below 1.3020
The British Pound struggled to gain momentum above the 1.3075 resistance zone against the US Dollar. The GBP/USD pair started a fresh decline and traded below the 1.3020 support. The decline gained pace below the 1.3000 support, the 50 hourly...
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