USD/JPY Nosedives Below 105.00 After Disappointing US GDP
Key Highlights USD/JPY settled below the main 106.00 support and dived below 105.00. Key resistances are forming near 105.00, 105.40 and 106.00 on the 4-hours chart. The US GDP contracted 32.9% in Q2 2020 (Preliminary), way more than the last...
XAU/USD Analysis: Supported By 55-Hour SMA
Yesterday, the XAU/USD exchange rate tried to exceed the 1,970.00 level. During Thursday morning, the rate was testing the support provided by the 55-hour SMA near 1,955.00. If the given moving average holds, it is likely that some upside potential...
USD/JPY Analysis: Consolidates Near Fibo 23.60%
On Wednesday, the USD/JPY currency pair consolidated near Fibo 23.60% at 105.03. During today’s morning, the pair maintained its consolidation. It is likely that some downside potential could prevail in the market, as the exchange rate is pressured by the...
NZDUSD Forms Two Bearish Technical Events
Using the “Technical Insight” research tool under the Market Analysis tab, we have identified two bearish technical events. The NZD/USD has confirmed an Inside Bar candlestick pattern and an RSI overbought reading. – advertisement – Source: GAIN Capital, Technical Insight...
GBP/USD Outlook: Bulls Approach Psychological 1.30 Barrier, Fed Eyed For Fresh Signals
Cable extends steep bull-leg into ninth consecutive day and cracks barriers at 1.2970/76 (weekly cloud top /11 Mar high) the last obstacles on the way to psychological 1.30 resistance. Fresh weakness of the dollar in expectations of dovish Fed, push...
Gold Advances Suppressed By All-Time High
Gold maintains a horizontal trajectory pressed below the all-time high of 1,981 but is still in a strong bullish mode in the long-term picture. A paused state of directional momentum is reflected in the Ichimoku lines as the price rests...
EUR/GBP: Fresh Weakness Emerges from Bull-Trap
The cross dips on Tuesday after bulls got trapped above 0.9113 Fibo barrier (76.4% of 0.9175/0.6937), with long upper shadows of several daily candles, signaling stall. Fresh weakness cracked 10DMA (0.9080) and pressure pivotal Fibo support at 0.9067 (38.2% of...
USDJPY Remains Pressured Below Key Resistance
On the U.S. economic data front, the Conference Board’s Consumer Confidence Index declined to 92.6 on month in July (95.0 expected), from a revised 98.3 in June. Wednesday will be a busy day for U.S. Economic data. Here is what...
WTI Futures Lacks Direction After The Jump To Almost 5-Month High
WTI crude oil futures have been on a sideline move after they reached an almost five-month peak around 42.50 in the preceding week. The price is flirting with the upper surface of the Ichimoku cloud and the short-term simple moving averages (SMAs)...
Currency Pair of the Week: USD/JPY
Its been a while since we have discussed USD/JPY, and for good reason. With the arrival of the coronavirus pandemic back in March, USD/JPY has been neutralized by central banks as the US has brought interest rates to zero and...
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