GBPUSD Recovery Continues
The British pound has continued to recover higher against the US dollar this morning, placing the 1.3170 resistance level back into focus. Sustained gains above the 1.3135 level should help encourage buyers to test towards the GBPUSD pairs former weekly...
USDJPY Back To 109.00 Pivot
The US dollar has returned to the pivotal 109.00 level against the Japanese yen currency, after the pair bounced from the 108.58 support level. Going forward, further weakness in the USDJPY pair should be expected while price trades below the...
Market Morning Briefing: EURJPY Is Trading Near 120
STOCKS Major indices like the Dow need to surpass a key near-term resistance in order to become bullish again. Until then the danger is still alive of seeing a sharp fall. We will have to wait and watch. DAX is...
GBP/USD Outlook: Pound Rallies above 1.31 Barrier after BoE Kept Rates on Hold
Cable jumped to 1.31 zone after BoE announcement, as the MPC voted 7-2 to keep interest rates unchanged at 0.75% on today’s policy meeting. The central bank supported its today’s decision by pointing at post-election growth in the UK economy...
WTI Oil Outlook: Oil Prices Remain In Red On China Virus Spreading Fears And Rise Of US Crude Stocks
WTI oil extends weakness on Thursday after being hit by unexpected build in US crude stocks on Wednesday that adds to negative impact from China virus spreading fears. The contract holds in red for the second day and is on...
Market Morning Briefing: Euro Is Trading Above Important Levels Of 1.10
STOCKS Asian indices are trading in the red. Nikkei has declined sharply and is closer to a very crucial support which needs to hold in order to avoid further fall. Dow and DAX sustain higher but have to breach a...
CADJPY Strictly Capped Below 50-Period SMA and 23.6% Fibonacci
CADJPY found strong resistance from the 50-day simple moving average (SMA) and the 23.6% Fibonacci retracement level of the upward wave from 78.48 to 84.55 near 83.11 earlier today. Questions are rising now about whether the market can sustain the...
EURCHF Turns Higher After Recording 33-Month Bottom
EURCHF reversed higher on Tuesday after the slip to a new 33-month low of 1.0664. In the longer timeframe, the price is still standing in a strong bearish mode since April 2019. From the technical view point, the RSI broke...
EUR/USD Slightly Leading DXY
Since January 1st of this new year, the US Dollar Index (DXY) has been on a one way move higher. The index has been in a long-term channel since mid 2018, and finally broke below it in December, only to...
USD/CHF 4H Chart: Breakout Could Occur
The US Dollar has surged by 95 pips or 0.99% in value against the Swiss Franc since January 15. The currency pair tested the upper boundary of a descending channel pattern at 0.9712 on January 27. Given that the USD/CHF...
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