AUD/USD Outlook: Fading Risk Appetite Signals An End Of Brief Recovery And Shifts Focus Lower
Recovery attempts from new 11-year low (0.6583) were so far mild, as today’s action is back to red on fading signals of renewed risk appetite. Fresh optimism on comments of possible vaccine for coronavirus and brief easing of US dollar...
Market Morning Briefing: US Dollar Index Has Dipped From Levels Above 99.50
STOCKS Blood bath across the global equities as the fear of corona virus spreading outside China is jolting the market sentiment. All major indices have tumbled and are under pressure. However, on the charts the indices are coming closer to...
UK 100 Index Slumps Below Long-Term Supportive Trendline
The UK 100 stock index slumped below the supportive trendline that has been holding since the end of 2018, increasing concerns that the market may be changing direction to south. The downside reversal in the RSI, which is currently heading towards its 30...
JP 225 Index Collapses To 4-Month Low, 200-SMA Acts As Support
Japan’s 225 stock index (cash) collapsed on Monday as the coronavirus cases outside China increased, shifting funds towards safe havens. The index dived straight to the 200-day simple moving average (SMA) to 4-month lows, losing nearly 4.0% From Friday’s closure....
USD/JPY Outlook: Pullback So Far Limited But Risk of Deeper Correction Exists
The pair pulled back from new multi-month high at 112.22 after bulls faced strong headwinds on approach to strong barriers at 112.40/41 (24 Apr 2019 high/50% retracement of 125.84/98.99 fall). The 70-pips pullback was so far rejected at 111.48, above...
USD/CNH Breaks Convincingly Above 7.000
As we discussed last week, the coronavirus helped to cause an increase in inflation to 5.4% vs 4.9% expected, as much of the inflation was due to higher food prices. Yesterday, China released data suggesting they have been flooding the...
EUR/USD Remains Above 1.0780
During Thursday morning, the EUR/USD currency pair tried to surpass the 100-hour SMA near 1.0820. During today’s morning, the pair failed to surpass the given SMA again. If the given resistance holds, it is likely that some downside potential could...
GBP/USD Tests Resistance
Yesterday, the GBP/USD exchange rate failed to decline below 1.2860. During Friday morning, the rate raised to the resistance formed by the weekly S1, the Fibo 38.20% and the 55-hour SMA at 1.2920. In the given resistance holds, it is...
USD/JPY Trades Below 112.00
On Thursday, the USD/JPY currency pair consolidated in the 112.00 area. During today’s morning, the pair was trading at 111.80. Note that the exchange rate could gain support of the 55-hour moving average, currently located near 111.50. Thus, some upside...
XAU/USD Trades At 1,565.00
Yesterday, the XAU/USD exchange rate raised to the 1,620.00 level. During Friday morning, the rate jumped to the 1,635.00 mark. It is likely that yellow metal could gain support of the monthly R1 at 1,628.78 and continue to extend gains...
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