GBP/USD Outlook: Bulls Face Strong Headwinds at Pivotal 1.30 Resistance Zone, Keeping the Downside at Risk
Cable fell to session low (1.2915) as bulls lost traction after probing through 1.30 barrier for the first time since 16 Sep. Pound was hit by remarks from PM Johnson’s virtual Tory conference on Tuesday. Johnson said that Britain lost...
Elliott Wave View: Dow Futures (YM) Looking To Extend Higher
Elliott Wave view in Dow Futures (YM) suggests that the rally from March 23, 2020 low remains in progress as a 5 waves diagonal Elliott Wave structure. In the 45 minutes chart below, we can see wave ((4)) of that...
Euro Slowly Growing
On Monday, October 5th, the major currency pair is gaining in weight and moving at 1.1731. The market is slowly restoring to its balanced state: the Trumps are sick but not as serious as market players thought, the speed at...
GBP/USD Outlook: Upbeat Data And Brexit Hopes But Bulls May Face Strong Headwinds At Key 1.30 Resistance Zone
Cable rose on Monday, lifted by fresh risk sentiment on news that President Trump would leave the hospital as early as Monday and rising hopes that EU and UK might agree a trade deal. UK PM Boris Johnson and European...
Gold: Consolidation Remains Despite Total Gold Held By ETFs Near the Record Level
Total gold held by ETFs rose 34% this year to 110.90 million ounces as of October 1, approaching the record high level, according to Bloomberg’s data. Besides, the net long position of gold futures was down 1.6% on week to...
AUD/USD Dips After Retail Sales Slide
The Australian dollar’s rally has hit the pause button on Friday, after a disappointing release from Retail Sales. In Friday’s European session, the pair is trading at 0.7150, down 0.45% on the day. All eyes are on US Nonfarm Payrolls,...
EUR/TRY 4H Chart: Ascending Channel In Sight
The EUR/TRY currency pair has been trading upwards within an ascending channel since the beginning of August. From a theoretical point of view, it is likely that the exchange rate could continue to extend gains within the predetermined channel in...
XAU/USD Analysis: Tests Monthly PP
Since Thursday, the XAU/USD exchange rate has been trying to exceed the monthly PP at 1,909.25. Given that the yellow metal is supported by the 55–, 100– and 200-hour moving averages in the 1,884.00/1,897.00 area, it is likely that some...
USD/JPY Analysis: Trades Below 105.40
On Thursday, the USD/JPY currency pair tumbled significantly to the weekly PP at 105.12. During today’s morning, the pair was testing the given level. It is likely that a reversal north could occur in the nearest future. In this case...
GBP/USD Analysis: Supported By 55– And 100-Hour SMAs
Since yesterday, the GBP/USD exchange rate has been piercing the upper line of the medium-term descending channel. Given that the currency pair is supported by the 55– and 100-hour SMAs in the 1.2880 area, it is likely that some upside...
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