GBPUSD Breakout Underway
The British pound has staged a strong upside breakout above the 1.2500 resistance level against the US dollar during the European trading session. A bullish breakout from an inverted head and shoulders pattern is underway while price trades above the...
EUR/GBP Outlook: Fresh Weakness Breaks Below 200DMA Which Held Bears for More than One Week
The cross eventually broke below key support at 0.8746 (200DMA / Fibo 61.8% of 0.8281/0.9498 rally) which kept the action in past seven days, containing multiple attacks. Fresh risk aversion pushed the Euro lower in the US session on Monday,...
AUDUSD Takes a Breather, Despite Signals for Advancement
AUDUSD looks to be picking up again, something also mirrored within the short-term oscillators. The pair plotted gains above the supportive trend line drawn from 0.5506, with the latest move from 0.5979 extending past the simple moving averages (SMAs). The...
EUR/USD Showing Recovery Signs But Facing Hurdles
Key Highlights EUR/USD started an upside correction from the 1.0768 monthly low. The pair climbed above 1.0850, but it is facing hurdles near 1.1000. A key bullish trend line is forming with support near 1.0860 on the 4-hours chart. The...
EUR/USD Outlook: Bulls Supported by Fresh Risk Mode and Eye Key Barriers
The Euro is maintaining positive tone and holding near new one-week high (1.0951) posted on Thursday and retested today in early European session. The pair is moving within some 30-pips range in a quiet Good Friday trading. Improved risk sentiment...
Crude Oil Rallying Within a Pullback – Elliott Wave Analysis
Crude oil started rallying from the lows, giving us an idea of a low in place for a bigger wave 5) of 3, and that a temporary, three-wave pullback as wave 4 of a higher degree is underway. If that...
GBP/CHF Bulls are Targeting Higher Levels
The GBP/CHF is bullish. We can see a form of consolidation (ounded bottom) during the uptrend. We might see fresh move up. Today and on Monday , the price will be slower due to low volatility. Easter holidays are when...
USD/JPY Signaling More Downsides Below 108.00
Key Highlights USD/JPY is struggling to gain traction above the 109.40 resistance. The pair could extend its decline if it breaks the 108.00 support. The US Initial Jobless Claims for the week ending April 04, 2020 declined from 6867K to...
Gold Tracking Toward Its Highest Close in 7+ Years – Can We Break $1700?
Amidst the profound disruptions wrought by the global COVID-19 pandemic, it’s reassuring to see an example of a market reaction that “makes sense.” That brings us to this morning’s Federal Reserve announcement of an unprecedented new program to provide $2.3...
US 30 Index Claws its Way Higher as Recovery Persists
The US 30 index has recovered a good chunk of its losses in the past couple of weeks and is now posting higher highs and higher lows on the four-hour chart above a short-term uptrend line drawn from the March...
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