USD/JPY Pressured By 55- And 100-Hor SMAS
During Thursday, the USD/JPY currency pair traded downwards. During today’s morning, the pair was testing the resistance provided by the 55– and 100-hour SMAs near 105.80. If the given resistance holds, it is likely that some downside potential could prevail...
XAU/USD Consolidates In 1,940.00 Area
Yesterday, the XAU/USD exchange rate traded sideways around the 1,940.00 level. During Friday morning, the rate maintained its consolidation. Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,960.00 area, it is likely...
GBP/USD Retreats As Volatility Continues
It has been a busy week for the pound, as GBP/USD has been showing significant volatility for most of the week. Currently, GBP/USD is trading at 1.3162, down 0.40% on the day. Retail sales, PMIs head higher On Friday, there...
Crude Oil: 43.30 Expected
Pivot (invalidation): 42.60 Our preference Long positions above 42.60 with targets at 43.05 & 43.30 in extension. Alternative scenario Below 42.60 look for further downside with 42.40 & 42.25 as targets. – advertisement – Comment The RSI is bullish and...
WTI Outlook: Quick Drop on Negative News So Far Short-lived
WTI oil price fell almost $1 on Thursday after OPEC+ announced daily oversupply of more than two million barrels and US weekly jobless claims unexpectedly rose, warning of slowdown in economic recovery that would hurt oil demand. However, the drop...
EURJPY Undergoes Downside Pressures; Uptrend Confronted
EURJPY is currently suffering negative stresses, which are attempting to destabilize the steady ascent from the 119.30 low. The price has retreated past the 50-period simple moving average (SMA) at 125.67 and below the Ichimoku cloud, until the 100-period SMA,...
Elliott Wave View: SP 500 (SPX) Pulling Back After Making All-Time High
Elliott Wave View of S&P 500 (SPX) suggests the rally from July 25,2020 low has ended at 3399.54 high as wave 3, which is also a new all-time high. Up from July 25 low, wave ((i)) ended at 3264.74 high...
Bulls Taking Care of Silver – Elliott Wave Analysis
Silver started trading bullish in March of 2020, and as we see price started unfolding an impulse. An impulse is a five-wave pattern, that moves within the current trend. In our case, this means to the upside. We can see...
US 500 Index Strongly Bullish; Looking Overbought
The US 500 index reached another all-time high of 3,397.36 earlier today as the index extends one of its fastest bulls run in its history. The momentum indicators are looking overbought as the RSI is flattening near the 70 level,...
GBP/JPY Could Restart Uptrend If It Clears 140.00
Key Highlights GBP/JPY is trading in a positive zone above the 138.00 and 138.40 support levels. GBP/USD extended its rise above the 1.3200 resistance zone. The UK CPI is likely to increase 0.6% in July 2020 (YoY), similar to the...
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