USD/JPY Tests Weekly S2
Yesterday, the USD/JPY currency pair dropped to the 106.00 level. During Friday morning, the pair declined below 105.50. It is likely that the exchange rate could gain support from the weekly S2 at 104.92 and reverse north in the short...
XAU/USD Surpassed Monthly R1
On Thursday, the XAU/USD exchange rate exceeded the monthly R1 at 1,668.23. During today’s morning, the rate was trading in the 1,680.00 area. On the one hand, it is likely that yellow metal could continue to appreciate against the US...
Italy Seeks Suspension Of EU Budget Rules
Italy, one of the worst hit countries outside of China by the Coronavirus, is expected to seek a budget exemption from the EU budget rules. The deputy minister said that his government is considering increasing its spending to fight the...
EURCAD Rises to 9-month Peak above 1.5000
EURCAD stretched its two-week rally towards a nine-month high of 1.5032 earlier today. The market trend is likely to hold on the upside as long as the price holds far above its moving averages and the Ichimoku cloud. The MACD seems to...
EUR/USD Consolidated In 1.1150 Area
On Wednesday, the EUR/USD currency pair consolidated in the 1.1150 area. During today’s morning, the pair maintained its consolidation. It is likely that the exchange rate could gain support from the 55-hour SMA near 1.1145 and trade upwards in the...
USDJPY Faces Aggressive Selling Interest, Hovers Near 5-Month Low
USDJPY is looking strongly bearish in the short-term after plummeting below its moving averages in the preceding week and penetrating the ascending trend line. Prices hit a five-month low of 106.84 on Wednesday and the technical indicators are all pointing...
USDCNH Tumbles Towards 6-Week Low with Strong Momentum
USDCNH is plunging for the ninth consecutive day after the pullback on the 7.0561 resistance, breaching the 23.6% Fibonacci retracement level of 6.9624 of the down leg from 7.1944 to 6.8433 today. The price is also registering a six-week low of 6.9159 within the Ichimoku cloud. Technical indicators are moving south with the...
EUR/USD Remains Below 1.1200
On Tuesday, the EUR/USD currency pair tried to surpass the resistance formed by the Fibo 38.20% and the weekly R2 at 1.1200. During today’s morning, the pair was trading near the given resistance. It is likely that the exchange rate...
Market Morning Briefing: Dollar-Yen Continues To Trade Below 108
STOCKS The surprise 50 basis point emergency rate cut from the US Federal Reserve yesterday seem to have added more panic to the market just now rather than easing the downside pressure. We will have to wait for some time...
WTI Oil Futures Pause Sell-off Near 14-Month Low
WTI oil futures for April delivery slipped as low as 43.50 on Monday and near 2018 lows before bouncing up on Monday. With the RSI rising above its 30 oversold mark and the MACD stabilizing below its signal line, the...
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