Market Morning Briefing: EURJPY Fell From 126.75 But While Above 126
STOCKS Dow seems to lack momentum to breach the immediate resistance. As cautioned yesterday, inability to surpass the immediate resistance can trigger a sharp corrective fall in the Dow. DAX remains higher and have room to move up further. The...
AUDUSD Bulls Flirt with Long-Term SMA after Two Years
AUDUSD has been flirting with the 200-weekly simple moving average (SMA) around 0.7240 for the past fortnight while struggling to surpass the 61.8% Fibonacci of the 0.8135-0.5701 downtrend at the same time. The last time the price touched the long-term SMA was...
EURUSD Uptrend Edges Sideways, Upside Risks Remain
EURUSD appears to have consolidated its advancements between 1.1695 and 1.1915, despite existing positive signals. In the meantime, the price is engaging the Ichimoku clouds upper band at 1.1842, while the 50-period simple moving average (SMA), the cloud and Ichimoku...
Silver Intraday: Downside Correction Not Yet Done?
Spot silver plummeted nearly 15% on Tuesday and despite a 2.9% rebound yesterday, it becomes more clear that investors are taking profit as price had nearly tripled from March’s low. DoubleLine Capital CEO Gundlach, the “bond king”, said even he...
CADJPY Jumps to 2-Month High but Needs Steeper Moves for Bullish Bias
CADJPY looks to be mostly neutral despite the latest ascent move from the 77.65 low. Currently, the pair is testing a new two-month high and if there is a bounce off at the 81.90 resistance it could endorse the horizontal...
USDJPY Critical Juncture
The US dollar is trading at a critical juncture against the Japanese yen currency as pair edges closer to the 107.00 resistance barrier. Continued gains past the 106.80 pivotal level could see the USDJPY pair testing towards the 107.30 resistance...
USD Reverses Direction As Gold Tumbles
The US Dollar moved higher against all of its major pairs except for the CAD in late-day trading on Tuesday, gaining the most against the JPY. On the U.S. economic data front, the producer price index increased 0.6% in July...
GBPCAD Recedes, Yet Retains a Positive Tone
GBPCAD faded further into the Ichimoku cloud and dropped below the 50-period simple moving average (SMA), following the retracement from the three-month high of 1.7673 peak. The Ichimoku lines suggest a temporary stalled picture in positive directional momentum. Nevertheless, signs...
GBP/USD Tests 100-Hour SMA
Yesterday, the GBP/USD exchange rate tested the 100-hour SMA near 1.3100. During Tuesday morning, the rate continued to test the given resistance. It is likely that the currency pair could gain support from the 200-hour moving average near 1.3090 and...
Currency Pair of the Week: AUD/USD
AUD/USD has had a strong run since mid-March, trading from .5701 to .7243. The Reserve Bank of Australia (RBA) stated at their last meeting that given the recent outbreaks of the coronavirus and localized shutdowns, current monetary policy was still...
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