ETHUSD Breaks Resistance
Ethereum has finally broken above key short-term technical resistance and may be set to attack towards the $175.00 resistance level. Continued gains above the $155.00 level could see the ETHUSD testing towards its key 200-day moving average this week. A...
USD/MXN and Other EM Currencies May be Topping
Mexican President AMLO has been slow to pull the trigger on a large stimulus plan as many other countries have done. However, on Sunday he established a public works program to help the poor and to create jobs. In addition,...
US 500 Stock Index in Neutral Phase in Near Term; Recoups Some Losses
The US 500 cash index has been developing within a narrow range over the last two weeks with upper boundary the 38.2% Fibonacci retracement level of the down leg from 3,396.64 to 2,173.95 at 2,646 and lower boundary the 2,440 support...
EUR/USD Could Extend Its Decline Below 1.0750
Key Highlights EUR/USD failed to stay above the key 1.0980 support area and declined steadily. A key bearish trend line is forming with resistance near 1.0890 on the 4-hours chart. The US nonfarm payrolls declined 701K and the unemployment rate...
WTI Oil Extends Recovery on Optimism of OPEC+ Agreement for Significant Production Cut
WTI oil price rose to new highest level since 17 Mar ($28.53) on Friday, in extension of previous day’s strong rally, driven by renewed optimism on expectations that main oil producers will agree to make significant production cut. OPEC+ group...
USD Index Outlook: Shocking Fall in Payrolls Comes as Logical Continuation of Very Negative Claims; Dollar Remains Firm
The dollar keeps bullish tone although the action after release of US jobs data is holding with quite narrow congestion as markets digest the shocking release. Again, there was no big surprise on seven times more negative payrolls data than...
NZDUSD’s Negative Momentum Breathes New Life into Near-Term Descent
NZDUSD is presently tackling the 0.5841 level, that being the 38.2% Fibonacci retracement of the down leg from 0.6447 to an 11-year low of 0.5468, after new found negative sentiment sent the pair back down into the Ichimoku cloud. Aiding...
Death Cross Forming in GBPUSD
GBP/USD slipped in early trading on Friday, after UK Final Services PMI missed analyst expectations, coming in at 34.5. The pound fell sharply against the dollar from March 10th as investors sought the greenback for its liquidity and safe haven...
AUD/USD Outlook: Aussie Dips Below 0.60, Weighed By Strong Demand For The Greenback
The Australian dollar fell below 0.60 handle on Friday, extending weakness into fourth day, pressured by broader US dollar gains, with low volumes accelerating Aussie’s negative action. Break below 10DMA (0.6036) and 0.60 support increases negative signals and exposes next...
WTI Oil Outlook: Oil Prices Rose After Pullback As Optimism Of Reaching Deal Prevails
WTI oil regained traction and rose to session high at $26.98 in European trading on Friday, as positive sentiment prevails on fresh hopes of Saud-Russia deal. Oil prices surged over $5 on Thursday on news that deal is likely to...
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