EUR/USD Touched Weekly R1
On Thursday, the EUR/USD currency pair raised to the 1.1050 level. During today’s morning, the pair reversed south from the weekly R1 at 1.1080. It is likely that the exchange rate could trade downwards in the nearest future. Note that...
USDCAD’s Pullback From 50-Month High Stalls At Mid-Bollinger Band
USDCAD is currently finding some footing at the mid-Bollinger band, which is encapsulated between the 1.4013 level – that being the 38.2% Fibonacci retracement of the up leg from 1.2951 to 1.4667 – and the inside swing high of 1.3994,...
Gold Approaches 2-Week High; Recoups Strong Losses
Gold prices continue to rise above the simple moving averages (SMAs), towards the two-week high of 1,638, stretching its upward movement from the four-month trough of 1,451. According to the RSI, positive momentum could push for further gains in the...
Dollar Index Dips Through Key Supports after Downbeat US Jobless Claims Data
The dollar index accelerated lower on Thursday, extending steep pullback into fifth straight day. Fresh weakness broke below key supports at 100.28/00 (Fibo 38.2% of 94.59/103.80 rally/psychological), generating strong reversal signal. It seems that the uptrend with massive gains in...
USD/CHF Under Pressure
Pivot (invalidation): 0.9780 Our preference Short positions below 0.9780 with targets at 0.9720 & 0.9700 in extension. Alternative scenario Above 0.9780 look for further upside with 0.9815 & 0.9845 as targets. – advertisement – Comment A break below 0.9720 would...
DXY May be Ready to Resume Move Higher
The US Senate and White House reach FINALLY reached a bi-partisan fiscal stimulus deal worth an estimated $2 trillion. The deal was reached at roughly 1:00am ET this morning, though traders have been expecting the agreement all day yesterday, as...
EURUSD Recovery Halted by Downtrend Line
EURUSD recovered in recent sessions following an aggressive sell-off, but the bulls seem to be having trouble overcoming a downtrend line drawn from the March peak. The near-term outlook therefore remains negative for the time being, though a break above...
Elliott Wave View: SP 500 (SPX) Recovery In Progress
Short Term Elliott Wave view in S&P 500 (SPX) suggests that cycle from February 20, 2020 high has ended at 2199.5 low as wave a. Internal of wave a unfolded as a 5 waves impulse Elliott Wave structure. Down from...
EURCHF Rebounds on 5-Year Low; Strongly Negative in Long-Term
EURCHF is trading slightly above the five-year low of 1.0515, flirting with the 20-day simple moving average (SMA) and the immediate resistance at 1.0615, which coincides with the 40-day SMA. The market is remaining well below the descending trend line, creating a strong...
Gold Surging as Refiners Have Trouble Meeting Physical Demand
Gold futures (GC) are screaming higher this morning as demand is surging. The Exchange for Physical (EFP) market is having difficulties meeting the demand for gold for their clients, and therefore spreads between the futures market and the physical markets...
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