GBPAUD Spikes To 4-Month High, Additional Gains Could Be Limited
GBPAUD stretched Thursday’s impressive rally to a four-month high of 1.8492 on Friday and is ready to close the week up by 1.7%. The RSI has also picked up steam and is currently pointing towards its 70 overbought mark, while...
EURNZD Possibly Forming Triple Top Near 10-Month High
EURNZD is again attempting to overcome the 1.7590 resistance region tested multiple times over August. The bulls recent rally from 1.7000 is backed by the Tenkan-sen that has already distanced itself from the Kijun-sen, as well as the momentum oscillators...
EUR/USD Could Maintain Consolidation
Yesterday, the Euro continued to consolidate against the US Dollar between the weekly and monthly PPs, located at 1.1038 and 1.1069 respectively. During Friday morning, the EUR/USD currency pair maintained its consolidation. If the given support and resistance levels hold,...
GBP/USD Tested Fibonacci 23.60% Retracement
On Thursday, the GBP/USD exchange rate reached the 1.2560 level. During today’s morning, the rate reversed south from the Fibonacci 23.60% retracement at 1.2573. It is likely that the currency pair could continue to go downside in the nearest future....
Gold Muted As Risk Aversion Declines
The precious metal was trading modestly lower on Thursday following the easing risk aversion sentiment. The Fed rate cut also failed to move the precious metal higher. This came as the Fed maintained a less than dovish outlook on monetary...
EURGBP Does Not Look Ready for a Meaningful Rally Yet
EURGBP seems to have reached oversold levels near the 200-day simple moving average (SMA) as the RSI is showing some positive movement after flatlining near its 30 oversold levels. The MACD and the red Tenkan-sen are also looking ready to...
GBP/USD Outlook: Bulls Regained Control after Being Briefly Hit BoE’s Brexit Warning
Cable regained traction and retested 100DMA barrier, on bounce from session low at 1.2437, posted after BoE rate decision. Sterling keeps bullish bias despite warning tone from the central bank on persisting uncertainty and further Brexit delay which would hurt...
Crude Oil Falls As Saudi Makes A Promise
Oil prices reacted sharply at the start of the week to news of drone attacks wiping out some of the oil production. However, the price of WTI crude oil has been steadily declining since Monday. Saudi Arabia announced that it...
A Look at DXY before the FOMC
As mentioned in our Fed Preview, today the Fed is expected to cut rates by 25bps. If the Fed does indeed cut rates as expected, the markets will be focused on the FOMC statement and the Dot plots, which indicates...
AUD/USD Outlook: Aussie Holds In Red And Attacks Again Pivotal Support Zone Ahead Of Fed
The Australian dollar holds in red on Wednesday and attacks again key supports at 0.6830 zone (daily cloud base / broken Fibo 38.2% of 0.7080/0.6677) which contained Tuesday’s spike to 0.6830. Fresh weakness signals again reversal after double Doji (Monday’s...
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