GBP/USD Continues To Decline
The GBP/USD has continued to decline. By the middle of Friday’s London trading hours, the pair reached the support of the 200-hour simple moving average at 1.3061. In theory, the rate had two possible scenarios. If the 200-hour SMA holds,...
CAD/JPY 4H Chart: Could Edge Lower
The Canadian Dollar has been edging higher in an ascending channel against the Japanese Yen since the beginning of December. The currency pair has surged by 2.81% in value during this period. All things being equal, the exchange rate might...
Market Morning Briefing: Dollar Index Is Looking Bearish While Below 97
STOCKS Dow has surged but is coming closer to a crucial long-term resistance level of 29000 which can halt the upmove and drag it lower. DAX has to break above 13400 in order to regain bullishness. Shanghai is hovering around...
USDJPY Retreats But Still Holds Within Bollinger Band
USDJPY remains under pressure and risk is still to the downside as prices continue to drift lower after the bounce off the 109.70 resistance level, remaining within the Bollinger bands. The short-term technical indicators are bearish and moving in the...
AUDUSD Starts Year In Red After Fresh 6-Month Top
AUDUSD stretched its nine-day rally to a new six-month high of 0.7030 on December 31, penetrating the upward sloping channel to the upside, before pulling slightly lower. The pair rallied very sharply at the end of the previous year, but...
NZD/JPY And AUD/JPY Are Coiling Just Off Their Highs
Assuming we don’t see a repeat of January 2019’s yen flash-crash, we’re looking for these pairs to extend their bullish trends. It was one year tomorrow that JPY pairs exhibited extreme volatility in a low liquidity environment. Given that Japanese...
Loonie Closes 2019 at a New High, More to Come in 2020?
As we noted yesterday, this time of year is notorious for low-liquidity trading, and more often than not, lackluster markets as traders plan their New Year’s celebrations. One currency that’s bucking that trend is the Canadian dollar, which is ringing...
GBPUSD Rebound May Face Challenge Within Nearby Resistance Area
GBPUSD is pushing on with efforts to correct the sharp sell-off off the 1 ½-year high of 1.3513 which led to 1.2900 last week. The price has returned into the 1.3100 territory and is trying to expand above the 20-day...
CHI 50 Stock Index Targets 2019 Peak But Bulls May Lose Momentum
ChIna’s 50 stock index (CHI50) closed the year slightly below the 2019 top of 14,456 on Tuesday. Technically, the positive momentum in the MACD, which jumped above its red signal line, suggests that there is still some room for improvement...
USDCAD Ready to Test 2019 Lows
USDCAD posted significant losses in recent days, with the pair now looking ready to test the 2019 low of 1.3015 at any moment. If sellers manage to pierce and close below that zone, that would turn the broader picture to...
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