XAU/USD Breached Ascending Triangle Pattern
On Thursday, the XAU/USD exchange rate breached the ascending triangle pattern north. During today’s morning, the rate was trading near the resistance level at 1,740.00. If the given resistance level holds, it is likely that a reversal south could occur,...
USD/JPY Revealed Rising Wedge Pattern
Yesterday, the USD/JPY currency pair revealed a rising wedge pattern. During Friday morning, the pair was trading near the lower pattern line. From a theoretical point of view, it is likely that the exchange rate could reverse north from the...
GBP/USD Consolidated Near 1.2200
Yesterday, the GBP/USD exchange rate consolidated near the support level—the Fibo 38.20% at 1.2190. During Friday morning, the rate maintained its consolidation. From a theoretical perspective, it is likely that the currency pair could trade downwards within the falling wedge...
Market Morning Briefing: Dollar Index Is Up Slightly
STOCKS Dow has recovered sharply back above 23000 yesterday. It can remain in the range of 23000-24500 (narrow) or 22500-25000 (wider) range for a few weeks. DAX looks vulnerable to break below its crucial support and fall further. Nikkei has...
USDTRY Slips Below 20-Day SMA but Retains Bullish Outlook
USDTRY held in losses for more than a week, dropping marginally below the 20-day simple moving average (SMA). The RSI continues to head lower in bullish area, while the MACD oscillator keeps falling beneath its trigger line, both suggesting a weaker price...
USDCHF Picks Up Speed After Bounce On 50-Day SMA
USDCHF appears to have found some footing from the 50-day simple moving average (SMA) and is attempting to climb over the 23.6% Fibonacci retracement of the up leg from the multi-year low of 0.9182 to the three-month peak of 0.9900....
WTI Oil Outlook: Much Lower than Expected Build in Crude Stocks Supports Oil Prices but Bulls Lack Momentum to Resume
WTI oil price rose above $26 level and cracked falling 55DMA ($26.45) after US weekly data showed that US crude inventories rose by only 0.7 million barrels against expectations for 4.1 million barrels build and last week’s increase of 4.5...
JP 225 Index Steadily Gains Ground
JP 225 stock index (Cash) continues to gradually appreciate backed by the positively charged simple moving averages (SMAs). Further fuelling the upward incline, are the Ichimoku lines – though slightly weakened – and the Ichimoku cloud. Glancing at the short-term...
GBP/USD Touched 1.2260
Yesterday, the GBP/USD exchange rate declined to the 1.2260 level. During Wednesday morning, the rate was trying to surpass the weekly and monthly S1s at 1.2290. If the given resistance level holds, it is likely that a reversal south could...
EURCHF’s Negative Tensions Sustain the Pair Near a floor
EURCHF is currently in the region of the multi-year low of 1.0504 restricted by the flattened Ichimoku lines. Despite negative pressures from the simple moving averages (SMAs) – specifically the 50-period SMA – and the Ichimoku cloud, the price is...
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