Gold Maintains Positive Structure Despite Negative Pressures
Gold appears to be breaching the 1,678 level, that being the 23.6% Fibonacci retracement of the up leg from 1,455.17 to 1,746.95, and the 1,672 inside swing high, following a pullback off the 88-month peak of 1,746.95. The short-term oscillators...
NZD/USD Dilemma: Lockdown Lift And Dampened Commodity Sentiment
NZD/USD does not seems to be benefiting from New Zealand’s planned lockdown lift and upbeat CPI data… Yesterday (April 20), the New Zealand dollar outperformed other major currencies against the greenback, gaining 0.2% compared with the prior session. New Zealand...
GBP/USD Outlook: Cable Eases on Monday but Remains Within Three-Day Range and Without Clear Near-Term Direction
Cable edged lower on Monday, pressured by rising coronavirus death toll and no signs of any easing of the lockdown. The pair is currently holding at the lower side of congestion that extends into third day and probes below rising...
EUR/USD Facing Uphill Task Near 1.0950
Key Highlights EUR/USD failed to break 1.1000 and declined below 1.0900. A crucial resistance is forming with resistance near 1.0950. There is also a key bearish trend line in place with resistance near 1.0930 on the 4-hours chart. The Euro...
USD/CAD Trades Inside a Classic Technical Pattern
The US Dollar was bearish against all of its major pairs on Friday. On the U.S. economic data front, the Leading Index fell 6.7% on month in March (-7.2% expected), from a revised -0.2% in February. On Monday, no major...
Gold’s Safe-Haven Appeal Fades on Signals of US Economy Gradual Restart
Spot gold extended pullback from new multi-year high ($1747) on Friday to initial support at $1683, marked by rising 10DMA. Fresh bears were so far held here and the price edged higher on weaker dollar, but outlook remains negative and...
GBPUSD Uptrend Runs Out of Steam above 61.8% Fibonacci
GBPUSD is struggling to recapture positive momentum after its rebound from the 35-year low of 1.1410 ran out of energy when it crossed above the 61.8% Fibonacci retracement of the March down move in the 4-hour timeframe. The RSI is...
GBP/USD Outlook: Cable Stands At The Back Foot But Bears Need Confirmation On Close Below 10DMA
Cable fell to new one-week low at 1.2406 on Friday after attempts above 1.25 barrier stalled at 1.2522. Firmer dollar which extends positive tone into third consecutive day, keep sterling at the back foot, after the UK government announced the...
GBPJPY’s Appreciation Finds Some Footing From SMAs, Indicators Seem Weak
GBPJPY is turning slightly lower over the last few days touching the 40-day simple moving average (SMA) and the 50.0% Fibonacci retracement level of the down leg from 144.95 to 124.00 at 134.48. Technically, the RSI indicator is challenging the...
EUR/USD Declined To Weekly S1
On Thursday, the EUR/USD currency pair tested the support level – the weekly S1 at 1.0823. During today’s morning, the pair was re-testing the given support. It is likely that the exchange rate could be pushed down by the 55-,...
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