USD/JPY Outlook: Bears Extend To The Lowest Since Mid-March, Pressure Key Fibo Support
The pair is down 0.7% since opening on Monday and extending steep fall into third day, driven by fresh strong safe-haven demand and further fall of the dollar. Fresh weakness pressures key Fibo support at 105.20 (61.8% of 101.18/111.71 March...
Gold Shines At A New Record High After 9 Years
Gold stretched its unstoppable rally to uncharted territory on Monday and to a new top of 1,944 after easily surpassing the 2011 record high of 1,920. A downside correction or some consolidation would not be a big surprise in the...
USD Index Outlook: Dollar Index Hits New 2020 Low
Pressure on dollar is rising as bears eventually cracked key short-term support at 94.59 (2020 low, posted on 9 March). Steep fall of past six days points to bearish acceleration, as the index is heading towards sixth consecutive week in...
WTI OIL Outlook: Oil Prices Remain Supported By Weak Dollar But Rising US/China Tensions Weigh
WTI oil price regained traction and bounced from $40.70 to the session high at $41.64 in European trading on Friday, recovering a part of previous day’s drop. However, the price action remains in a choppy mode and holding in range,...
XAU/USD Outlook: Bulls Are Consolidating Before Final Attack At All-Time High At $1920
Spot gold maintains firm bullish tone and holding just below new multi-year high ($1898) and round-figure $1900 barrier on Friday. The metal is heading for the biggest weekly gains since the last week of March, as weakening dollar and inflation...
EUR/JPY Two Scenarios Likely
The common European currency has declined by 81 points or 0.65% against the Japanese Yen since Thursday’s trading session. The currency pair tested the 100– hour simple moving average at 123.35 on Friday morning. If the 100– hour SMA support...
USD/CAD Could Edge Higher
The US Dollar declined by 73 points or 0.55% against the Canadian Dollar during the first half of yesterday’s trading session. However, the currency pair regained some of the position at the day. As for the near future, bullish traders...
NZD/USD Tests 100– Hour SMA
The New Zealand Dollar has declined by 65 points or 0.97% against the US Dollar since Thursday’s trading session. The currency pair tested the 100– hour SMA at 0.6623 on Friday morning. If the support level formed by the 100–...
EUR/USD Consolidates Near 1.1620
On Thursday, the EUR/USD currency pair tested the 1.1620 level. During today’s morning, the pair consolidated near the given level. It is likely that exchange rate could gain support from the 55-hour SMA near 1.1580, and some upside potential could...
GBP/USD Tests Weekly R2
Yesterday, the GBP/USD exchange rate tested the resistance level—the weekly R2 at 1.2758. During Friday morning, the rate continued to test the given resistance. Given that the currency pair is supported by the 55-hour SMA and the monthly R1 at...
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