USD/JPY Remains Below Weekly R1
On Thursday, the USD/JPY currency pair tested the support formed by the 200-hour SMA and the monthly PP at 106.02. During today’s morning, the pair continued to test the given resistance. If the predetermined support holds, it is likely that...
GBP/USD Might Consolidate
Yesterday, the GBP/USD exchange rate tested the support level formed by the weekly and monthly PPs at 1.3250. During Friday morning, the rate reversed north. From the one hand, it is likely that some upside potential could prevail in the...
EUR/USD Tests Resistance Level
On Thursday, the EUR/USD currency pair reversed north from the lower line of the medium-term ascending channel. During today’s morning, the pair was testing the resistance formed by the weekly and monthly PPs, as well the 200-hour SMAs at 1.1860....
Gold Supported By The Rising Trend Line
The precious metal remains weak as price fell for the second day. However, the pace of declines was limited as XAUUSD is currently helped by the long term rising trend line. With the Stochastics oscillator in the oversold level and...
Copper Futures Stop at 26-Month Highs; Positive Risks May Fade
Copper futures reached overbought levels according to the RSI and reversed lower after touching the 26-month peak of 3.0898 achieved on September 1. While the aforementioned technical indicator continues to slow down, mirroring the market’s bearish behavior over the past three days,...
Dollar Index Outlook: Dollar’s Recovery Could Extend Towards Key Fibo Barrier at 94.03
The dollar eased from recovery high (93.06) in immediate reaction on better than expected US jobless claims data. Initial claims for state unemployment benefits were 881K for the week ended on 29 Aug, in comparison to previous week’s figure at...
GBP/USD: Watch 1.3250
Pivot (invalidation): 1.3370 Our preference Short positions below 1.3370 with targets at 1.3280 & 1.3250 in extension. Alternative scenario Above 1.3370 look for further upside with 1.3405 & 1.3445 as targets. – advertisement – Comment The RSI calls for a...
US 100 Index Rallies to Fresh Record Highs, Near Overbought Territory
The US 100 index has been completing new record highs over the last three consecutive days, edging towards the 12,465.02 number. According to the stochastics, positive momentum could push for further gains in the short-term as the indicator picks up...
USDJPY Maintains Sideways Bearing; Momentum Dries Up
USDJPY appears to remain stuck between the boundaries of 105.09 and 107.00, as the Ichimoku lines echo a momentum deprived market. The gradually slipping simple moving averages (SMAs) hold a fairly flattened tone, aiding the current directionless price action. Furthermore,...
Elliott Wave View: Nasdaq (NQ) Looking To Extend Higher
Elliott Wave View of NASDAQ (NQ_F) suggests the Index ended the cycle from August 12 low as wave (1) at 11437 high. The pullback in wave (2) unfolded as zigzag correction and ended at 11221.50 low. The index then continued...
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