EUR/USD Outlook: Daily Cloud Top Contains for Now but Near-Term Outlook Remains Negative
The Euro is trading within narrow consolidation between daily cloud top (1.1074) and daily Kijun-sen (1.1090) on Monday, lacking signals in thinning pe-holiday market. Strong fall on Friday was contained by daily cloud top and nearby pivotal Fibo support at...
USD Significantly Strengthened
The major currency pair weakened pretty much at the end of last week. Early in the last full trading week of the year, EURUSD is trading at 1.1084. Several reports published by the USA last Friday provided great support to...
USDMXN Looks for a Rebound as Oversold Conditions Detected
USDMXN paused its 3-week old decline near the key 18.80 support area last week. Meanwhile the RSI has touched its 30 oversold mark and is now looking for a rebound, whilst the fast-Stochastics have already reversed after posting a bullish...
Cross Check | AUD/JPY, GBP/CHF, EUR/CAD, EUR/NZD
AUD/JPY: A bullish channel has been developing on the weekly chart, since AUD/JPY failed to close the week below January’s flash-crash low in August. Moreover, a bullish outside week marks a swing low at 73.80 and prices are now consolidating...
Canadian Data Continues to Disappoint
Canadian Retail Sales were released earlier today, and the results were disappointing. Although the data was for October, the data still matters. The headline retail sales number (MoM) was -1.2% vs expectations of +0.5% and -0.1% in September. This is...
Precious Metals: Silver Breaks Out
Despite Wall Street hitting yet another record high today and the Dollar Index extending its recovery, precious metals are still holding their own pretty well. This may reflect expectations of stronger Chinese demand for precious metals following the nation’s agreement...
GBPCAD Cautiously Positive as Decline Hits a Wall at the 50-day SMA
GBPCAD’s aggressive reversal marginally ahead of the previous high from March 12 of 1.7793 has come to a standstill at the 1.7058 level – which is the 38.2% Fibonacci retracement of the up leg from 1.5874 to 1.7790 – that...
USD/TRY Outlook: Lira Takes A Breather After Suffering Strong Losses This Week
Bulls are taking a breather after this week’s steep ascend cracked key barriers at 5.9378 (former high of 14 Oct) and 5.9408 (Fibo 61.8% of 6.2445/5.4494). Daily RSI and stochastic are turning south in overbought territory and signaling price adjustment...
Tesla Stock Flies To Fresh All-Time Highs, Bullish And Overbought
Tesla’s stock price skyrocketed past 400.00 to uncharted territory and above the 386.83 ceiling that kept the bulls under control in the 2017-2018 period, sending the fast-RSI well into the overbought territory. The latter increases the odds for a downside...
USDCHF Breaks Lower As Bears Take The Wheel
USDCHF broke below an uptrend line in early December, which later acted as resistance, forcing the market to head down and post a lower low on the daily chart. The near-term bias has therefore turned negative, something also endorsed by...
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