Crude Oil Consolidation In Place
Pivot (invalidation): 25.10 Our preference Short positions below 25.10 with targets at 23.70 & 23.35 in extension. Alternative scenario Above 25.10 look for further upside with 25.55 & 26.00 as targets. – advertisement – Comment As Long as 25.10 is...
GBP/USD Up If 1.2280 Zone Holds
The GBP/USD dropped below 1.2300 again during the Tokyo session. However, we can see that the market is trying to make a bounce. The GBP/USD is still in ranging mode. However, the market needs to close above W L3 with...
Currency Pair of the Week: NZD/USD
The Reserve Bank of New Zealand (RBNZ) is set to meet on Wednesday to discuss interest rate policy. Although no change is expected, the focus will be whether or not they increase the size of their QE, and my how...
GBP/USD Outlook: Prevailing Tone on Monday Negative But Cable Continues to Move Within Four-Day Range
Bumpy ride for cable at the beginning of the week, as the pair hit session high at 1.2437 (barrier formed by converged 30/20/10/55DMA’s) and subsequently fell to 1.2283 on uncertainty about models of easing Britain’s lockdown, pessimism about UK/EU trade...
GBPUSD 1.2470 Key
The British pound look set for a major week ahead against the US dollar as the pair searches for a medium-term technical breakout. A move above the 1.2470 resistance level exposes further gains towards the 1.2600 level, while a move...
Nasty NFP Numbers
The headline Nonfarm Payrolls number was -20,500,000 vs an expected -21,000,000 and a revised -870,000 for March. At any other point in time a 500,000 difference between the estimated and actual would have been a huge difference. However, these days,...
USD/JPY Outlook: Better than Feared US Labor Data Inflate Dollar
Dollar rose across the board after US jobs data showed better than markets feared results in April. Non-farm payrolls and unemployment came below horrific forecasts (which showed expectations for the worst situation in jobs sector since Great Depression) and average...
NZDUSD Exhibits Tendency For Further Advances
NZDUSD is extending price action above the 100- and 50-period simple moving averages (SMAs) after recently finding some traction at the 200-period SMA. Moreover, the slight incline in the SMAs backs the recent improvement in the pair. Turning to the...
XAU/USD Jumped To 1,720.00
On Thursday, the XAU/USD exchange rate skyrocketed to the 1,720.00 level. During today’s morning, the rate was trading near the given mark. On the one hand, it is likely that some upside potential could continue to prevail in the market,...
USD/JPY Pressured By 100- And 200-Hour SMAS
Yesterday, the USD/JPY currency pair failed to surpass the 100-hour SMA near 106.50. During today’s morning, the pair was trading at 106.40. Note that the exchange rate remains under pressure of the 200-hour SMA near 106.60. Thus, some downside potential...
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