EURUSD 1.0980 Key Support
The euro remains under downside pressure against the US dollar, with the pair so far finding technical support from just above the 1.1000 level. A sustained breach of the 1.1000 support level should see the EURUSD pair sold towards the...
USDCNH Appreciates Despite Looming Medium-Term Downtrend
The Renminbi’s recent push up from 6.8440 has returned the pair to levels seen at the end of last year. Buyers are attempting to breach an important region from 6.9790 to 6.9865 on the daily timeframe, where a bearish crossover...
WTI Oil Outlook: Crude Oil Falls Further After Gap-Lower Opening As Virus Concerns Weigh Heavily
WTI oil price started the week with 130-pips gap lower and extended to the levels last traded in early Oct, pressured by concerns that virus spread could have strong negative effect on oil demand. The price holding firmly in red...
EUR/JPY Could Make Brief Upside Retacement
The single European currency declined by 84 basis points or 0.69% in value against the Japanese Yen on Friday. The currency pair was pressured south by the 50– hour simple moving average. As for the near future, the EUR/JPY exchange...
GBPCHF Looks Undecided after its Pullback Off the December 2019 High
GBPCHF’s correction from the seven-month high of 1.3307 bounced off the 200-day simple moving average (SMA) and is now confined between the downward sloping 50-day SMA and the flat 20-day one, located at 1.2682, which is the 38.2% Fibonacci retracement...
EURNZD In A Slippery Slope, Bears Look At 5-Month Low
EURNZD is holding to losses, slipping beneath the short-term moving averages in the daily timeframe. The strong sell-off day on Thursday is driving the pair towards the five-month low of 1.6615. The MACD is heading lower and is approaching the...
GBP/USD Outlook: Sterling Eases Despite Upbeat UK PMI Data As Traders Collect Profits
Cable jumped to two-week high (1.3174 after release of much better than expected UK PMI data, but gains were short-lived as traders took profits from longs in past four days and sent the pair to session low at 1.3085. The...
EURUSD 1.1020 Support
The euro remains under pressure against the US dollar after breaking key technical support, following Thursday’s ECB policy meeting. Continued weakness under the 1.1060 level could see the EURUSD pair falling towards the 1.1020 support level later today. Overall, the...
EUR/USD Declined To 1.1040
On Thursday, the EUR/USD currency pair tumbled to the 1.1040 level. During today’s morning, the pair was trading at the given level. It is likely that some downside potential could prevail in the market in the short run. Note that...
GBP/USD Squeezed By Moving Averages
Yesterday, the GBP/USD exchange rate traded sideways in the 1.3120 area. During Friday morning, the rate was trading at 1.3100. On the one hand, the currency pair could gain support from the 100– and 200-hour SMAs, currently located circa 1.3050,...
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