GBPUSD Rallies On Further Bull Pressure
GBPUSD looks to correct further higher as it closed higher on Thursday. Support stands at 1.2550 area with a break below that level turning focus to the 1.2500 level. Further down, support lies at the 1.2450 level where a violation...
EUR/USD Outlook: Euro Holds Positive Tone After Thursday’s 0.5% Advance And Looks For Test Of Next Key Barriers
The Euro maintains positive tone and consolidating under new two-week high at 1.0972 in early Friday’s trading. The pair rallied strongly in the US session on Thursday, boosted by dollar’s month-end sell-off, advancing nearly 0.5% for the day, the biggest...
NZDUSD Cautiously Bullish Above Very Short-Term Trend Line And MAs
NZDUSD seems to have retraced slightly to the 0.6074 level – that being the 61.8% Fibonacci retracement of the down leg from the 0.6447 high to the 11-year low of 0.5468 – after the recent appreciation of the price above...
US 30 Stock Index May Have More Bullish Fuel in Store
The US 30 stock index (cash) closed positive above the Ichimoku cloud on Wednesday, increasing speculation that the short-term uptrend could further strengthen. A bullish cross of the 20-day simple moving average (SMA) with the 50-day SMA may add to...
USDCHF Faces Bearish Pressure above Rising Trendline
USDCHF had a bearish start on Thursday, dropping beneath the 23.6% Fibonacci retracement level of the upward wave from 0.9500 to 0.9800, at 0.9730, and the 20- and 40-period simple moving averages (SMAs). The pair has been in process to create an ascending triangle...
AUD/USD Could Make Brief Retracement
The Australian Dollar surged by 57 basis points or 0.88% against the US Dollar on Wednesday. The currency pair was guided higher by the 50– hour simple moving average during yesterday’s trading session. Most likely, the AUD/USD exchange rate might...
WTI Oil Outlook: Oil Price Rises on Fresh Optimism But Still a Long Way Towards More Significant Recovery
WTI oil advanced around 9% during Wednesday’s Asian / European trading and extended bounce from Tuesday’s $10.05 spike low above $14 per barrel. API crude stocks data released on Tuesday, showed smaller than expected build in crude inventories during the...
BTCUSD Approaching Resistance
Bitcoin is fast approaching the $8,000 level as the number one cryptocurrency continues to receive strong buying interest ahead of the upcoming halving event. A breakout above the $8,000 level could see the BTCUSD pair rallying towards the $8,800 resistance...
EURUSD Neutral In Short-Term But Still Bearish In Medium-Term
EURUSD has been trading within a symmetrical triangle formation since March 20, with a break outside it likely to determine the next trend direction. Moreover, the price rebounded after it found support near the uptrend line and the 1.0730 support, enhancing...
USD/JPY Outlook: Fresh Bears Look for Confirmation on Close Below Broken Key Supports
The pair accelerated lower on Tuesday, being down around 0.6% since opening in Asia, as dollar weakened across the board on renewed risk sentiment over relaxing coronavirus restrictions. Fresh bears broke below double-bottom at 106.92 and also surged through thickening...
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