WTI Oil Futures Overbought after Capturing One-Month High
WTI oil futures for January delivery closed above the 200-period moving average (SMA) on the four-hour chart on Wednesday and spiked to a one-month high of 58.64, confirming a new higher low at 54.84. The price is currently consolidating around...
USD/JPY Outlook: Double Bear-Cross Maintains Pressure For Renewed Test Of 108.29 Fibo Support
The pair eases on Friday after double-Doji with the upside being capped by converged 10/20/30DMA’s. Fresh weakness comes despite positive signal on Thursday’s strong downside rejection (long-tailed Doji) as near-term action is weighed down by double-bear-cross (10/20 and 10/30DMA’s, formed...
XAU/USD Tested Medium-Term Channel
On Thursday, the XAU/USD exchange rate declined to the lower boundary of the medium-term ascending channel at 1,465.00. During today’s morning, the rate reversed north from the given line. From a theoretical perspective, it is likely that some upside potential...
USD/JPY Could Decline
Yesterday, the US Dollar consolidated against the Japanese Yen at 108.60. During Friday morning, the USD/JPY currency pair traded at 108.50. Note that the exchange rate is pressured by the 55-, 100- and 200-hour moving averages, currently located in the...
EUR/USD Outlook: The Downside Remains At Risk As Long As Daily Kijun-Sen Caps
The Euro advanced in early European trading on Friday, boosted by better than expected German data (GDP Q3 y/y 1.0% vs 0.5% f/c, Nov Manufacturing PMI 43.8 vs 42.9 f/c), but lower than expected services PMI (Nov 51.3 vs 52.0...
USD Index Can See Further Bearish Developments
Similar to EURUSD, USD index has also been trading within a correction as part of a trend, however of a downtrend. We labelled a high for this correction at the 98.45 area, from where a strong decline started developing. Ideally...
EUR/USD Trades Near 1.1090
On Wednesday, the EUR/USD currency pair tested the resistance level formed by the weekly R1 at 1.1078. During today’s morning, the pair was trading at the 1.1085 level. Note that the exchange rate has reversed north from the lower boundary...
Gold Volatile Due To Trade Narrative
The precious metal was trading volatile on Wednesday. The trade talks, which seem to have stalled now, raise prospects that the Phase-One deal will not be made this year. The earlier view was that both parties would strike a deal...
NZDJPY Consolidates Around Sturdy 50.0% Fibonacci Which Denies Advances
NZDJPY is in the process of pushing above the 69.75 restrictive level – which is the 50.0% Fibonacci retracement of the down leg from 73.23 to 66.30 – a point within a range of 70.02 to 68.93, which buyers have...
GBPCAD Breaches Key Resistance in Effort to Maintain Bullish Picture
GBPCAD is pushing above a key resistance of 1.7133 from the swing high from May 29. The ascent, which commenced on August 9, is aided by the progressing bullish cross of the 50-day simple moving average (SMA) and the improving...
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