USD/JPY Analysis: Pressured By 55-Hour SMA
On Thursday, the USD/JPY currency pair traded sideways around the 107.50 level. During today’s morning, the pair maintained its consolidation. Given that the exchange rate is pressured by the 55-hour moving average near 107.50, it is likely that some downside...
XAU/USD Analysis: Supported By Moving Averages
Yesterday, the XAU/USD exchange rate re-tested the 1,760.00 level. During Friday morning, the rate was testing the support formed by the 55– and 100-hour SMAs near 1,775.00. If the given support holds, it is likely that some upside potential could...
Market Morning Briefing: Aussie Is Stable Near Current Levels
STOCKS Shanghai has surged further to reach our target much faster than expected. Better than expected manufacturing data release and a rate cut from the central bank are boosting the momentum. Shanghai continues to remain stronger among the lot. Dow...
WTI Oil Outlook: WTI is on Track to Form the Third Straight Doji as Conflicting Signals Keep Near-Term Action Directionless
WTI continues to trade around $40 handle on Thursday, extending narrow-range movements into third straight day and on track to leave third consecutive daily Doji candle. Conflicting signals keep oil price in directionless mode as sharp drop in US crude...
EURJPY Cautiously Positive Above SMAs
EURJPY appears somewhat optimistic despite the recent consolidation in price above the 200-period simple moving average (SMA). Positive signals include the price having moved above the SMAs and the Ichimoku cloud, while the Ichimoku lines stall their positive tone. Furthermore,...
Technical alerts on USD/JPY and EUR/JPY
Using the “technical Insight” research tool under the Market Analysis tab, we have identified bullish technical events on the USD/JPY and EUR/USD Both currency pairs confirmed a moving average crossover on a daily chart. Price Crosses Moving Average (21-day). This...
USD/JPY Outlook: Strong Bearish Acceleration after Bulls Got Trapped is Generating Negative Signal
The pair fell sharply on Wednesday after attempts to extend five-day rally were strongly rejected and bulls got trapped above daily Kijun-sen/50% retracement of 109.85/106.07 fall (107.96). Fresh weakness is also forming bearish engulfing which could add to negative signal...
GBP/USD Outlook: The Pair Broke The 1.2320 Resistance Level To Move Into A Short Term Positive Zone
The British Pound started a decent upward move from the 1.2250 support area against the US Dollar. The GBP/USD pair broke the 1.2320 resistance level to move into a short term positive zone. The pair even surpassed the 1.2350 resistance...
GBP/USD Outlook: Downbeat Economic Data and Weakening Risk Mode Maintain Pressure on Sterling
Cable remains firmly in red for the third straight day and pressures pivotal support at 1.2250 (Fibo 76.4% of 1.2074/1.2813/Monday’s low, the lowest in one month). Fresh weakness probes again into thick daily cloud after Monday’s dip failed to register...
USD/CAD Tests Key Resistance Ahead Of Key North American Data
Overall, though, sentiment remains positive towards risk assets with the downside for stocks being limited thus far. So, if the stock market were to resume its rally, then this should help the Canadian and other commodity dollars to rise further....
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