GBP/USD Tests Fibo 50.00%
Yesterday, the GBP/USD exchange rate consolidated in the 1.2480 area. During Friday morning, the rate was testing the Fibo 50.00% at 1.2418. If the given support level holds, it is likely that a reversal north could occur. Note that the...
GBPUSD 1.2380 Key
The British pound currency is once again starting to move lower against the US dollar as the greenback gains strength into the weekend. Technical analysis shows that the 1.2380 level offers critical technical support if a breakout under the 1.2400...
XAU/USD Outlook: Bulls On Hold for Consolidation/Correction Before Resuming
Spot gold eased after dismal US jobless claims lifted dollar, showing further hesitation after strong rally in past few days hit the highest in nearly eighteen years and Wednesday’s trading ended in red. It seems that bulls are pausing on...
US 30 Index Consolidates above 200-MA; Maintains Bullish Tone
US 30 Index (Cash) has taken a breather, trading around the mid-Bollinger band after breaking above the 200-period simple moving average (SMA) on the four-hour chart. That said, the index sustains its bullish bearing and is aided by the supportive...
EUR/JPY Bearish Move As SHS Pattern Progresses
The EUR/JPY shows bearish continuation signs. The price is very bearish as the shoulder-head-shoulder pattern progresses. We can see on the chart a giant head and shoulders pattern. 117.50 zone is the bottom of the right shoulder and we should...
Copper Futures Maintain Negative Outlook Despite Pullback
Copper futures’ bullish correction from the 45-month low of 1.9684 appears to have lost steam as it approaches the restrictive trend line drawn from the 8½-month peak of 2.8819. Further suggesting that positive momentum is wavering is the RSI that...
Dow Jones Outlook: Dow Slumps on Downbeat US Data, Earnings Reports
The Dow Jones fell about 500pips since opening of US session and registered losses of 900 points since Asian session start. The index was hit by downbeat US retail sales data which showed record monthly in March, with more bad...
USD/CHF 0.9570 Expected
Pivot (invalidation): 0.9620 Our preference Short positions below 0.9620 with targets at 0.9590 & 0.9570 in extension. Alternative scenario Above 0.9620 look for further upside with 0.9640 & 0.9660 as targets. – advertisement – Comment As Long as the resistance...
Make It or Break It for The Australian Dollar
China reported a trade surplus for March earlier today at +19.90B vs -7.09B for the combined January-February period. China seems to be back in business after being shut down completely for 2 months. Additional data will be released later in...
EURCHF Extends Sideways Drift
EURCHF’s long-term downtrend has glided the pair towards a 55-month low of 1.0517 and into a neutral market since the beginning of March. The price is continuing to creep sideways, being squeezed by the Bollinger bands, which are reflecting the...
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