EUR/USD Meets Resistance
The decline of the EUR/USD found support in the 1.1080 level and began a surge. The surge was stopped on Tuesday by the resistance of the 55-hour simple moving average and the psychological resistance of the 1.1100 level. In general,...
GBPAUD Inches Sideways Towards Supportive Trendline
GBPAUD has shifted sideways after a pullback from the multi-year peak of 1.9521. Directional momentum has evaporated, and the pair is approaching a supportive trendline drawn from the low of 30 July 2019. The MACD is marginally above its red...
AUD/USD Outlook: Aussie Extends Weakness on Rising Expectations for Rate Cut
The Australian dollar fell in European session to the lowest since 10 Jan, after brief recovery in Asia lost traction. Fresh weakness comes in extension of Friday’s strong fall after bull stalled on Thursday and formed bull-trap reversal pattern on...
S&P 500 The Upside Prevails
Pivot (invalidation): 3302.50 Our preference Long positions above 3302.50 with targets at 3350.00 & 3362.00 in extension. Alternative scenario Below 3302.50 look for further downside with 3281.00 & 3261.00 as targets. – advertisement – Comment The RSI is bullish and...
USD/CHF Outlook: Swiss Deflated by Risk Mode; Reversal Pattern Forming on Daily Chart
The pair advances strongly on Friday after US-China trade deal provided relief and boosted appetite for riskier assets. Reversal pattern is forming on daily chart after Thursday’s action was strongly rejected at the downside and Friday’s rally is about to...
NZDJPY Cautiously Positive In Short-Term, Golden Cross Registered
NZDJPY restored positive momentum after diving as low as 71.22 last week and is now approaching the 73.51 top registered in late-December. The upward-sloping RSI is endorsing the positive move, but some caution could be justified as the Stochastics have...
USDZAR Posts ‘Death Cross’ In Medium Term Downtrend
USDZAR peaked during the summer after touching 15.50 and has been posting consecutive lower highs and lower lows on the daily chart ever since. What’s more, the 50-day simple moving average (SMA) recently crossed below the 200-day one, completing a...
Brent Futures Rebound On Supportive Uptrend Line, Bullish View Remains
Brent futures bounced off the short-term ascending trend line on Wednesday, failing to extend the downward move. Currently, the commodity is trying to overcome the 40-day simple moving average (SMA) and the 64.85 resistance level. The RSI turned higher but...
GBP/USD Tested Weekly PP
Yesterday, the GBP/USD exchange rate raised to the 1.3080 level. During Friday morning, the rate tested the resistance level—the weekly PP at 1.3099. On the one hand, it is likely that bears could prevail in the market, and the currency...
XAU/USD Maintained Its Consolidation
On Thursday, the XAU/USD exchange rate traded sideways around the 1,555.00 level. During today’s morning, the rate continued to consolidate. Note that yellow metal is squeezed by the 100– and 200-hour SMAs, currently located at 1,550.86 and 1,556.68 respectively. Thus,...
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