GBP/CAD 4H Chart: Sets For Breakout
The British Pound has been depreciating against the Canadian Dollar since the beginning of February after the currency pair reversed from the upper boundary of a triangle pattern at 1.7454 on February 3. The exchange rate is currently trading near...
GBP/USD Struggling Ahead Of UK Jobs Report
Key Highlights GBP/USD recovered above 1.3000, but it is struggling to clear the 1.3050-1.3060 resistance. A key bearish trend line is forming with resistance near 1.3040 on the 4-hours chart. The UK ILO Unemployment Rate is likely to remain at...
Yen Remains Weak
On Monday, February 17th, USDJPY is slowly growing and trading close to 109.84. The Yen has been weak for the second trading session in a row. The statistics published today showed that the Japanese GDP lost 1.6% q/q in the...
EURUSD Cautiously Bearish, Forms Inverted Hammer
EURUSD appears to have slowed slightly – with the development of an inverted hammer pattern – ahead of the April 2017 gap of 1.0820 – 1.0777 following a descent, which deflected off the 50-day simple moving average (SMA) around 1.1095....
EURCAD Breaks Sideways Pattern to the Downside
EURCAD broke to the downside the medium-term sideways range that had been confining the price action in recent months, with an upper bound at 1.4770 and a lower end at 1.4415. The pair is now testing the 3-year low of...
AUDCHF Remains Bearish Despite Reversal Off All-Time-Low
AUDCHF is currently flirting with the flat blue Kijun-sen line around 0.6586, following a pullback off the all-time low of 0.6436. Backing this improvement, is the red Tenkan-sen line that has turned up and the technical indicators. The short-term oscillators...
AUD/USD Outlook: Break Below 10DMA Would Signal End Of Recovery Phase And Reversal
The Australian dollar fell in European session on Friday, maintaining negative near-term tone, following repeated recovery rejection at 0.6750 Fibo barrier (23.6% of 0.7032/0.6662, reinforced by falling 20DMA) and Thursday’s close in read after three-day rally. Recovery phase might be...
EUR/USD Declined To 1.0842
On Thursday, the EUR/USD currency pair declined to the weekly S2 at 1.0842. During today’s morning, the rate was trading at the given level. If the weekly S2 holds, it is likely that a reversal north could occur in the...
GBP/USD Breached Rising Wedge Pattern
Yesterday, the GBP/USD exchange rate jumped to the 1.3060 level. During Friday morning, the rate reversed south. It is likely that the currency pair could gain support of the monthly S1 at 1.3021 and reverse north in the nearest future....
USD/JPY Tests Resistance
Yesterday, the USD/JPY currency pair tried to surpass the resistance formed by the 55– and 100-hour SMAs in the 109.85 area. During Friday morning, the pair continued to test the given resistance. If the given moving averages hold, it is...
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