EURUSD Under Pressure
The euro remains under downside pressure against the US dollar, with the pair slipping closer towards its short-term bearish objective. Weakness below the 1.1030 support level could see the EURUSD pair falling closer towards the psychological 1.1000 level. Overall, only...
USDJPY Holding Gains
The US dollar continues to hold onto its gains against the Japanese yen currency, following the recent technical breakthrough above the 109.00 level. USDJPY buyers are likely to target towards the 109.60 resistance level as the US session progresses. At...
USDCAD Returns Above Trendline, But Rebound Capped By 100-Day MA
USDCAD has been restricted by the 100-day simple moving average (SMA) in recent sessions, after buyers aggressively reversed the pair back above the uptrend line, reestablishing a neutral-to-bullish picture. Despite the bearish demeanor of the 20- and 50-day SMAs, the...
CAD/CHF 4H Chart: Bullish Signals
The Canadian Dollar depreciated about 1.79% in value against the Swiss Franc during last week’s trading sessions. The currency pair tested a psychological support level at 0.7500 on November 1. The exchange rate is currently trading near a support cluster...
GBPUSD Bears In Control
The British pound is under heavy downside pressure against the US dollar after the recent dovish Bank of England meeting heightened technical selling. The GBPUSD pair risks falling towards the 1.2740 level, although the 1.2710 level is the main support...
GBPAUD Looking Oversold Within Descending Channel
GBPAUD strengthened negative momentum on Thursday to stop at the bottom of the descending channel, where the 200-period simple moving average (SMA) in the four-hour chart and the 50% Fibonacci of the upleg from 1.8074 to 1.9092 happen to be...
EUR/GBP Outlook: The Cross Rises through Initial Barriers after Split MPC Vote Hurt Sterling
The cross retested highs of past few days at 0.8646 (reinforced by falling 20DMA) on fresh bullish acceleration on surprise BoE MPC split vote (7-2 vs 9-0 f/c) on previous policy meeting, report showed today. Sterling came under fresh pressure...
Market Morning Briefing: Pound Is Heading Towards 1.28 While Below 1.30
STOCKS News on the possibility of a delay in the US-China trade deal getting signed is weighing on the equities now. Dow and Nikkei remains below their crucial resistance level which if continues to hold can trigger a corrective fall...
Strong Build in Crude Stocks Weakens the Structure and Risk Repeated Close Below 200DMA
WTI oil price dipped after much stronger than expected build in weekly crude stocks (7.9 mln bls vs 1.5 mln bls f/c) data showed on Wednesday. Strong rally extended into fourth straight day and peaked at $57.83 today (the highest...
EURUSD Testing Support
The euro has remained under pressure below the 1.1100 level against the greenback during the European trading session, as the pair struggles to move away from major weekly support. The EURUSD pair is likely to suffer from heavy technical selling...
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