USD/JPY Tests Resistance Level
Yesterday, the USD/JPY currency pair raised to the 105.50 level. During Friday morning, the pair raised to the resistance level formed by the weekly PP and the monthly S1 at 106.32. If the given resistance level holds, it is likely...
GBP/USD Outlook: Bears Are Pausing Above Key Fibo Support But Outlook Remains Negative Below 200DMA
Bears are taking a breather after suffering heavy losses in past three days, sparked by panic on corona virus pandemic and BoE’s unexpected rate cut in attempts to handle the crisis. Thursday’s close below 200DMA (1.2703) was strong bearish signal...
Gold and Bitcoin Heading Lower, Correlations Diverging
Gold has been moving lower over the last few sessions, even as stocks have been moving into bear territory. One would naturally think that the opposite would occur, as gold is often considered a hedge to a falling stock market. ...
JP 225 Index’s Decent Extends to More than 3-Year Low
Japan’s 225 stock index (cash) sustains a negative bearing stretching to a thirty-nine-month low of 17,510. The one-month collapse is fortified by the downward sloping 50- and 100-day simple moving averages (SMAs) and the recent bearish crossover between them. Furthermore,...
EURUSD Key ECB Levels
The euro currency is starting to consolidate towards the worst levels of the week against the greenback ahead of today’s ECB policy meeting. More QE from the ECB could see the EURUSD pair slumping towards the 1.1170 and possibly the...
CADJPY Could Recover from 8 ½-Year Lows if 77.00 Mark Passed
CADJPY bounced from an 8 ½-year low of 73.85 on Tuesday and expectations are for the positive momentum to resume in the short-term as the RSI prepares to exit the oversold area. Practically, the pair should overcome nearby resistance around 72.20 to...
Brent Futures Covers Gap Down; Still Bearish in Short Term
Brent futures sank towards a fresh low of 31.23 on Monday, creating a gap down, however, they covered some of the losses in the previous four-hour sessions. Looking at the technical indicators, the RSI turned lower but is still the near 50...
Gold Price Could Resume Its Rally, US CPI Next
Key Highlights Gold price started a downside correction from the $1,703 high. A key bullish trend line is forming with support near $1,650 on the 4-hours chart of XAU/USD. EUR/USD and GBP/USD corrected gains, but remain supported on dips. The...
EURNZD Hits Levels Not Seen in 9-Years Before Dropping Back Down
EURNZD’s fierce move yesterday stretched towards nearly a 9-year high of 1.8980 before sellers pulled the pair south to around 1.8016, which is a high from back in September of 2015 (previous resistance-now-support). The positive picture still looks intact with...
Dollar Index Bounces Off 17-Month Low, Closing the Negative Gap
US dollar index futures jumped above the 17-month trough of 94.60 today and spiked near the 96.00 number, filling the negative gap posted on Monday. The RSI penetrated the downtrend line to the upside in the oversold zone, suggesting a potential upside correction...
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