EUR/USD Analysis: Revealed Ascending Channel
On Thursday, the EUR/USD currency pair revealed a short-term ascending channel. From a theoretical point of view, it is likely that the exchange rate could continue to extend gains within the predetermined channel in the nearest future. In this case...
GBP/USD Outlook: Cable Extends Its News-Driven Wide Swings
Sterling remains highly volatile and extends its yo-yo ride on Friday, sparked by Brexit talks news on Thursday and this morning’s shocker on President Trump’s positive test for coronavirus. Cable fell to the session low (1.2836) on announcement but quickly...
USDJPY Outlook: Safe-Haven Yen Benefits From Fresh Uncertainty On Trump News
The pair fell 0.5% on Friday morning after news that President Trump and his wife tested positive on Covid-19. Traders moved into safe-haven yen on rising uncertainty that sparked risk aversion in the market. Fresh weakness probed below important supports...
WTI Oil Outlook: Near-Term Action Remains Capped By Daily Cloud Base
WTI oil price eases on Thursday on fresh risk aversion and persisting fears about global demand recovery on rising coronavirus cases and higher supplies from OPEC+ group. The price action remains capped by daily cloud base for the second day...
TRY/JPY 4H Chart: Two Scenarios Likely
The TRY/JPY exchange rate continued to decline within the falling wedge pattern. From a theoretical perspective, it is likely that the currency pair could breach the given pattern north within the following trading sessions. In this case the pair could...
Gold Prices Steady As 1900 Within Reach
The precious metal is struggling to maintain the gains made from Tuesday. Price action is rather mixed and likely to close with an inside bar. In the near term, this could lead to a possible breakout in the short term....
USDTRY Holds Near Record High; Indicators are Overbought
USDTRY surged to a fresh record high on Monday once again, hitting the 7.8605 barrier. The price has been in an ascending movement since December 2018; however, the technical indicators are suggesting an overbought market. The RSI is touching the...
USD Index Outlook: Dollar Rises On Fading Risk Sentiment After Presidential Debate
The dollar jumped after chaotic first US Presidential Debate which faded risk mode and deflated stocks and riskier currencies. Traders remain cautious as debate showed all but plans of presidential candidates, although polls suggest Biden has 57% chance of presidential...
ETHUSD Bullish Above $350.00
Ethereum appears increasingly bullish in the near-term, as traders continue to buy into any meaningful price dips in the cryptocurrency. The short-term analysis shows that the pair has staged a breakout from falling price channel and may rally towards the...
USDCAD Edges Marginally Up as Progress Remains Capped
USDCAD has been nicely hovering above the 1.3350 support level but is capped by the 20-day simple moving average (SMA). From a technical perspective, the short-term bias is viewed as positive, reflected by the improvement in the RSI and the stochastic....
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