EURUSD 1.1060 Target
The euro is building on yesterday’s gains against the US dollar, with the pair now starting to advance above the 1.1000 resistance level. The EURUSD pair could target the 1.1060 resistance area before a meaningful technical correction takes place. Overall,...
USDJPY Approaching 108.40
The US dollar is tumbling lower against the Japanese yen, as financial markets go into full risk-off trading move during the European session. A break under the 108.40 support level exposes further losses in the USDJPY pair towards the 107.50...
Elliott Wave View: Dow Jones Futures (YM_F) Target Lower
Short term Elliott Wave view in Dow Futures (YM_F) suggests the Index ended the cycle up from October 3, 2011 low in wave (III) at 29543 high. The index is correcting that cycle in wave (IV) as a zig-zag. Wave...
CADJPY Faces Selling Pressure after Touching 1-Year High
CADJPY has been in the red over the last four days, but it is still trading within an upward sloping channel, which has been holding since September 2019. The latest drop started after the pair found a wall at the one-year high of 84.75....
GOLD Could Soon Surge
After touching the 1,625.00 level for a second time on Wednesday, on Thursday, the commodity returned to trade near the 1,650.00 mark. In regards to the near term future, the metal was expected to end trading in this week’s range...
Elliott Wave Forecast: SP Futures ($ES_F) Downside Target
Short term Elliott Wave view in E-mini S&P 500 (ES_F) suggests the Index ended the cycle up from June 3, 2019 low in wave ((3)) at 3397.50 high. The index is correcting that cycle in wave ((4)) as a double...
AUDUSD In Freefall As Selloff Resumes
AUDUSD is looking more bearish by the day in both the near-term and medium-term time frames as the pair keeps carving out fresh 11-year lows after a brief pause. Momentum indicators suggest the negative picture will persist at least in...
GBP/USD Outlook: The Pair Spiked Above 1.3000 And Is Currently Correcting Lower
The British Pound remained positive above the 1.2880 and 1.2900 support levels against the US Dollar. The GBP/USD pair climbed higher and surpassed the 1.2940 resistance. Besides, the pair settled above the 1.2980 level and the 50 hourly simple moving...
Market Morning Briefing: USDCNY Is Likely To Trade Within 6.99-7.04 Region For The Near Term
STOCKS Sell-off continues in the equity segment as the fear pertaining to the corona virus outbreak continues to keep the market highly risk averse. However, as mentioned yesterday, the major indices are coming closer to their crucial support which can...
XAU/USD Outlook: Pullback from New 7-Year High So Far Limited as Strong Fears of Coronavirus Pandemic Persist
Spot gold price dipped on Tuesday after steep, week-long rally hit new 7-year high but showed initial signs of stall on Monday’s daily candle with very long upper shadow, formed after strong upside rejection on approach to psychological $1700 barrier....
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