XAU/USD Pressured BY 55-Hour SMA
On Thursday, the XAU/USD exchange rate raised to the resistance formed by the 100– and 200-hour SMAs, as well the monthly PP in the 1,720.00 area. During today’s morning, the rate reversed south. Given that yellow metal is pressured by...
USD/JPY Tests Monthly R2
Yesterday, the USD/JPY currency pair surpassed the weekly R3 at 109.07. During Friday morning, the pair tested the monthly R2 at 109.43. It is likely that the exchange rate could gain support from the 55-hour SMA near 108.95 and extend...
USDCHF Retests 3-Month Trough; Neutral in Near Term
USDCHF faced a sharp selling interest over the last few hours, flirting with the 0.9590 support level. This move is suggesting more losses, confirmed by the RSI, which is heading south below the 50 leveld. Moreover, the red Tenkan-sen line...
EURJPY’s Upward Trajectory Under Negative Strain
EURJPY’s one-month positive incline is stalling ahead of the key 122.86 resistance border. Although positive momentum appears to be waning, the ascent from the 3½-year low remains intact, something also reflected by the upward slopes within the simple moving averages...
CHF/JPY 4H: Set For Breakout
The Swiss Franc has surged by 4.29% against the Japanese Yen since May 6. The currency pair tested the upper boundary of an ascending channel pattern at 113.31 on June 3. Given that the CHF/JPY exchange rate is currently trading...
GBPJPY’s Postponed Rally Attempts to Resume Gains
GBPJPY is in the process of breaking above the 136.93 level – that being the 61.8% Fibonacci retracement of the down leg from 144.94 to the 41½-month low of 123.97 – and the nearby 137.19 barrier. The pick up in...
EURGBP Sellers Take Control, Obstructing Advances
EURGBP’s recent ascent to 0.9054 seems to have stalled, reversing back down to the 0.8889 level, that being the 50.0% Fibonacci retracement of the up leg from 0.8281 to the 11-year peak of 0.9498. The current inactive demeanour within the...
NZD/USD Breakout Occurs
The New Zealand Dollar has surged by 112 basis points or 1.79% against the US Dollar on Tuesday. The currency pair breached the upper boundary of an ascending channel pattern during Tuesday’s trading session. Given that a breakout had occurred,...
GBP/USD Outlook: Bulls Remain Firm on Weak Dollar / Brexit Negotiations Optimism
Cable cracked 100DMA barrier (1.2570) in extension of Monday’s 0.55% rally through 1.2500/16 (round-figure / Fibo 61.8% of 1.3199/1.1409). Weakening dollar holds in red for the sixth straight day and underpin pound with fresh support coming from optimism over continuation...
USDCAD Declines to 2-Month Low but Indicators Signal a Pullback
USDCAD extended Monday’s losses and is currently trading not far above a two-month low of 1.3491 hit earlier today. The strong bearish rally started has been evolving since April 21. However, the momentum indicators are suggesting a possible pullback in...
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