GBP/NZD 1H Chart: Bulls Could Prevail
The British Pound continued to appreciate against the new Zealand Dollar. As apparent on the chart, the GBP/NZD exchange rate has already surpassed the psychological level at 2.0000. Note that the currency pair is supported by the 55-, 100– and...
GBP/CHF 1H Chart: Two Scenarios Likely
The British Pound has been appreciating against the Swiss Franc since the beginning of October when the GBP/CHF currency pair reversed north from the support level—the Fibonacci 23.60% retracement at 1.2210. Given that the exchange rate is supported by the...
EUR/USD Remains Below 1.1170
On Thursday, the EUR/USD currency pair tried to surpass the psychological level at 1.1170. During today’s morning, the pair was testing the weekly R1 at 1.1150. Given that the exchange rate is supported by the 55-hour moving average, it is...
USD/JPY Dropped To 108.00
Yesterday, the USD/JPY currency pair dropped to the support level formed by the monthly PP and the weekly S2 at 108.00. During Friday morning, the pair was testing the given support. If the given support level holds, it is likely...
USDJPY New Low
The US dollar is coming under increasing pressure against the Japanese yen, with the pair falling to a fresh multi-week trading low. The USDJPY pair risks a deeper decline towards the 107.30 level if the 107.90 support level is broken...
XAU/USD Outlook: Gold Rises as Renewed Trade Uncertainty Prompted Traders into Safe-Havens
Spot gold rallied on fresh safe-haven demand on Thursday, after China expressed doubts about signing any deal with the US that increased uncertainty over ongoing trade conflict. Yellow metal was boosted by dovish Fed on Wednesday which deflated dollar, with...
AUD/JPY 4H Chart: Slight Upside Move Still Likely
Upside risks have been dominating the Australian Dollar against the Japanese Yen since October 10 after the currency pair made a U-turn from the lower boundary of an ascending channel pattern at 72.00. Bullish momentum will likely continue to dominate...
Elliott Wave View: Nikkei Incomplete Bullish Sequence Favors More Upside
Nikkei incomplete sequence from December 26, 2018 low and August 26, 2019 low, favoring further upside. A 100% Fibonacci extension from August 26, 2019 low comes at 23360 while 100% extension from December 26, 2018 low comes at 23380. Until...
USD/CAD Outlook: Loonie Falls Sharply after Dovish BOC and Solid US Data. All Eyes Now on Fed
The USDCAD pair surged 0.5% to new two-week high, after The Bank of Canada kept its key interest rate unchanged at 1.75% but cut global and domestic growth forecast as the economy was hit by trade conflicts. The greenback received...
XAU/USD Remains Below 1,500.00
Yesterday, the XAU/USD exchange rate traded sideways around the psychological level at 1,490.00. During Wednesday morning, the rate was testing the resistance formed by the 55– and 200-hour SMAs at 1,493.42. Given that yellow metal is also pressured by the...
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