AUDUSD Wave Analysis
AUDUSD broke key support level 0.6700 Likely to fall to support level 0.6600 AUDUSD currency pair recently broke the key support level 0.6700 (previous monthly low from July, which also reversed the pair earlier this month). The breakout of the...
US Dollar Index Reaches Highest Level Since June 2002 ahead of the Fed
The US Dollar Index (DXY) reached its highest level in over 20 years today rising to an intra-day high of 110.87, eclipsing the September 7th highs of 110.79. With the FOMC meeting concluding today, the central bank is expected to...
XAG/USD: The Price in Bearish Correction (b) May Fall to 15.055
XAGUSD seems to be forming a correction wave b of the cycle degree, which is part of the global zigzag. It is assumed that the correction b is a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of it have...
AUD/USD At Risk of More Losses, Fed Decision Next
Key Highlights AUD/USD declined below the key support at 0.6780. It is facing resistance near 0.6750 and 0.6780 on the 4-hours chart. Gold and crude oil price is showing signs of bearish continuation. The Fed interest rate decision is scheduled...
EUR/USD: Euro Loses Steam on Disappointing Economic Data, All Eyes on Fed
The Euro turned to red in European trading on Tuesday, following a four-day recovery after a sharp post-US inflation report’s drop. Bounce rose above parity level but failed to register a clear break higher. Underlying bears received fresh support today...
Natural Gas Futures Drop Sharply after Rebound Falters
Natural gas futures (October 2022 delivery) have drifted lower again after their recent advance failed to cross above the 9.210 mark. Even though the latest downward spike seems to have encountered significant support at the lower Bollinger band, the near-term technical picture is constantly deteriorating. The momentum indicators...
GBP/USD: Cable Falls to Multi-Decade Lows as Downbeat UK Data Add to Negative Outlook
Sterling falls further on Friday and breaks below 1.14 mark vs dollar, trading at the lowest levels since 1985 during the European session. In addition to persisting pressure from strong dollar on expectations for another massive Fed rate hike, pound...
EUR/USD Pair is Now Consolidating Losses Near $1.0000
The Euro started a fresh decline from well above the 1.0150 level against the US Dollar. The EUR/USD pair declined below the 1.0100 and 1.0080 support levels. There was close below the 1.0050 level and the 50 hourly simple moving...
GBPUSD Revisits Pandemic Lows as Bears Persist
GBPUSD corrected forcefully to the downside early on Friday, breaking below the critical 1.1400 pandemic low, where the bears halted the 2022 downtrend on September 7. The MACD is extending its bearish wave below its red signal and zero lines...
USDCAD Storms to Fresh 22-Month High
USDCAD has been in an uptrend since early August when the price encountered strong support at the 200-day simple moving average (SMA). Moreover, in the past few sessions, the technical picture has improved even further, with the price recording a fresh 22-month...