USD/CAD Two Scenarios Likely
The US Dollar has plunged by 108 points or 0.80% against the Canadian Dollar since Monday’s trading session. The currency pair breached the weekly support level at 1.3504 on Tuesday morning. As for the near future, the USD/CAD exchange rate...
EUR/USD at 4-mth High as EU Talks Continue
It’s been a quiet start to the week for EUR/USD, with only second-tier releases out of the eurozone and no events in the US. Ordinarily, investors would focus on upcoming fundamental releases, but the markets are glued to Brussels, where...
Gold Price Following a Bullish Trend Line with Support at $1,807
Gold price remained in a positive zone, but it struggled to clear the $1,811 level against the US Dollar. The price traded as low as $1,795 recently and started a fresh increase. It is now following a bullish trend line...
EUR/USD Outlook: Bulls Focus 2020 High, Boosted By Optimism In EU Talks
The Euro jumped to new 4 1/2 month high at 1.1466 on Monday, maintaining positive tone from last week (up 1.09% for the week). The sentiment was boosted by hints of progress in talks between EU leaders which extend into...
All Eyes on the EUR/USD
The US Dollar was bearish against most of its major pairs on Friday with the exception of the CAD. On the economic data front, Housing Starts rose to 1,186K on month in June (1,190K expected), from a revised 1,011K in...
HKD/JPY 1H Chart: Falling Wedge Pattern In Sight
The HKD/JPY exchange rate has been declining within a falling wedge pattern since the beginning of July. From a theoretical perspective, it is likely that the currency pair could continue to trade downwards within the given pattern until the end...
ZAR/JPY 1H Chart: Rising Wedge Pattern In Sight
The ZAR/JPY currency pair has been trading within a rising wedge pattern since the end of June. From a theoretical point of view, it is likely that the exchange rate could continue to extend gains within the given pattern until...
EUR/USD Outlook: The Euro Stands At The Front Foot Ahead Of Key EU Summit Decision
The Euro regained traction and probes again above former high at 1.1422 on Friday, following strong upside rejections and failures to close above 1.1422 barrier. The action in past two days left daily candles with long upper shadows that could...
EUR/USD Tests 100-Hour SMA
On Thursday, the EUR/USD currency pair declined to the support provided by the 100-hour SMA near 1.1380. During today’s morning, the pair was testing the given support. Given that the exchange rate is pressured by the 55-hour SMA and the...
GBP/USD Pressured BY Moving Averages
Yesterday, the GBP/USD exchange rate tried to exceed the 1.2620 level. During Friday morning, the rate was trading at 1.2560. It is likely that some downside potential could prevail in the market as the currency pair is pressured by the...
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