US 100 Index Finds Support At 200-SMA, Could Trade Neutral In Short-Term
US 100 stock index found strong footing near the 200-day simple moving average (SMA) once again, refusing to slip below the 8,000 number. In the short-term, the market could follow a neutral path, holding above its recent lows, as the...
GBP/USD At Risk Of Further Downsides
Key Highlights GBP/USD declined heavily and settled below the 1.2865 support area. EUR/USD extended its rally above the 1.1100 resistance area. The UK Manufacturing PMI declined from 51.9 to 51.7 in Feb 2020. The UK Construction PMI is likely to...
Crude Oil Back to Correction
On March 2nd, the first trading session of the spring, Brent is correcting upwards after plummeting the week before. On Monday morning, the instrument is trading at 51.25 USD with the last week’s lows being at 48.50 USD. Another thing...
USDJPY 108.90 Pivot
The US dollar is staging a solid recovery against the Japanese yen currency after the pair dropped sharply lower on the weekly price open this morning. Going forward, the 108.90 level is key trendline resistance and also a key weekly...
Market Morning Briefing: USDCNY Has Fallen And Could Test 6.95
STOCKS Asian indices show some sort of relief on early trades today. It will have to be seen if they can sustain this bounce and see further rise this week. Dow has bounced from the day’s low on Friday and...
NZD/USD Bulls are Salivating
Earlier today, New Zealand was the latest to fall victim to the coronavirus. A woman in her 60s who traveled from Iran to Auckland via Bali tested positive for the virus on Friday. NZD/USD is down 1.1% today and gunning...
XAU/USD Trades Below 1,650.00
Yesterday, the XAU/USD exchange rate failed to surpass the 1,655.00 level. During Friday morning, the rate was testing the support formed by the monthly R1 and the 200-hour SMA at 1,628.78. If the given support holds, it is likely that...
USD/JPY Dropped Below 109.90
On Thursday, the USD/JPY currency pair dropped to the 109.00 level. During today’s morning, the pair was testing the support formed by the weekly S2 at 108.58. If the given level holds, it is likely that a reversal north could...
GBP/USD Declined To Weekly S1
Yesterday, the GBP/USD exchange rate tried to surpass the weekly S1 at 1.2858. During Friday morning, the rate tested the Fibo 38.20% at 1.2918. Note that the currency pair is pressured by the 55-, 100– and 200-hour moving averages un...
EUR/USD Touched 1.1050
On Thursday, the EUR/USD currency pair skyrocketed to the 1.1000 level. During today’s morning, the pair jumped to the 1.1050 mark. From the one hand, it is likely that some upside potential could prevail in the market. In this case...
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