EUR/JPY Buying Signals
The common European currency surged by 110 basis points or 0.91% against the Japanese Yen on Monday. The currency pair breached the weekly R1 at 121.77 during yesterday’s trading session. All things being equal, the EUR/JPY exchange rate will most...
Dollar Index Outlook: Dollar Remains at Back Foot on Optimism Over Economic Recovery
The dollar remains in red on Monday and probes again through cracked 200WMA (96.30), pressuring supports at 96.18/16 (Fibo 76.4% of 95.68/97.78 / last Thursday’s low). Larger downtrend remains intact, with past three weeks action in red and today’s fresh...
AUDUSD Still Consolidating; Unable to Break above Upper Channel
AUDUSD has been consolidating since June 16 and has been stuck in a channel tilted slightly to the upside. The neutral to bullish picture in the short term looks to last for a while longer after prices failed to break...
Gold Intraday: Steady Up Trend
On Friday, spot gold marked a day-high near $1,811 before closing 0.3% lower at $1,799. Investors were caught between the latest development in coronavirus treatment and uncertainty over U.S.-China relationship. U.S. biopharmaceutical giant Gilead Sciences released additional data on remdesivir,...
USD/JPY closes the week under pressure
It was a relatively quiet U.S. trading session in the Forex market on Friday. The US Dollar was mixed against all of its major pairs on Friday. On the economic data front, the Producer Price Index Final Demand unexpectedly fell...
XAU/USD Analysis: Remains Below 1,815.00
Yesterday, the XAU/USD exchange rate declined to the support provided by the 100-hour SMA near 1,795.00. During Friday morning, the rate reversed north. It is likely that yellow metal could gain support from the 55-hour moving average near 1,805.00 and...
USD/JPY Analysis: Dropped Below 107.00
On Thursday, the USD/JPY currency pair tumbled below the 107.20 level. During today’s morning, the pair declined to the 106.80 mark. It is likely that the exchange rate could be pressured by the Fibo 38.20% at 106.86, thus, it is...
GBP/USD Analysis: Supported By 100-Hour SMA
Yesterday, the GBP/USD exchange rate failed to exceed the Fibo 61.80% at 1.2646. During Friday morning, the rate was testing the resistance provided by the 55-hour SMA and the weekly R1 at 1.2600. If the given resistance holds, it is...
EUR/USD Analysis: Breached Short-Term Channel South
On Thursday, the EUR/USD currency pair breached the short-term ascending channel south. During today’s morning, the pair pierced the 200-hour SMA near 1.1270. It is likely that the exchange rate could face the resistance formed by the 55– and 100-hour...
NZDUSD Attempts To Restore Positive Sentiment
NZDUSD appears to be strengthening after finding a footing on the 40-period simple moving average (SMA), which may enhance the very short-term neutral-to-bullish picture. Although the positive momentum in the MACD and the Ichimoku lines has stalled, the rising SMAs,...
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