EUR/GBP Outlook: Fresh Brexit Optimism Sparked Strong Bearish Acceleration
The cross fell strongly on Friday as renewed Brexit optimism boosted sterling. Fresh probe below 0.8900 handle (also 50% of 0.8494/0.9324 ascend) pressures Thursday’s 0.8885 spike low (13-month low). Firm break here would signal extension of downtrend from 0.9324 (12...
GBPUSD Rally Sets Sights On The 1.2522 Resistance Zone
GBPUSD faces further bull pressure as it sets sights on the 1.2522 resistance zone. Support lies at 1.2400 area with a break below that level turning attention to the 1.2350 level. Further down, support lies at the 1.2300 level where...
CHI50 Index Set for More Upside; Strong Resistance Around 14,060
China’s 50 stock index (CHI50) made a U-turn near the 50-period simple moving average (SMA) in the four-hour chart and is building momentum to reclaim strong resistance around 14,060. According to the RSI and the MACD there is more upside...
GBP/USD Rallies To Key Resistance Ahead Of US Retail Sales
The pound has been on a tear today, rising across the board. The GBP/JPY has led the advance, thanks to ongoing “risk-on” rally undermining the Japanese yen. The GBP/USD is also up sharply and is the pair to watch ahead...
Gold Prices Trade Flat Following ECB Announcement
Gold prices were slightly volatile on Thursday, but the price was confined to a range. It is likely that the precious metal will maintain a flat position into next week’s Fed meeting. For the time being, a lack of any...
GER30 Index Completes Another Bullish Week Near Overbought Zone
GER30 stock index had two constructive weeks and is completing another one above the Ichimoku cloud and its simple moving averages (SMAs) in the daily chart. Technically, the market may run for more gains in the short-term as the MACD...
EUR/USD Outlook: The Euro Retested 2019 Low after ECB Rate Cut/Re-introduction of QE
The Euro spiraled lower and retested 2019 low at 1.0926 (posted on 3 Sep) after European central bank met all expectations of the markets regarding action taken to fight negative impact from weakening EU’s economy and low inflation, as well...
EURUSD Bearish Under 1.1000
The euro currency has fallen below the 1.1000 level against the US dollar, marking a bearish trendline break from a descending triangle pattern. The downside breakout could take the EURUSD pair back towards the 1.0940 level, according to its overall...
WTI Outlook: Oil Price Eases as OPEC Cuts Forecasts for Global Oil Demand Growth, Little Help from Upbeat Inventories
Oil price eases as OPEC cuts forecasts for global oil demand growth, little help from upbeat inventories WTI oil price dipped near $57.00 support, following brief jump to $57.91 after release of US crude stocks report. EIA report showed much...
AUD/USD Outlook: Bulls Cracked Pivotal Barriers But Without Clear Break For Now
Fresh upside attempts resulted in posting new six-week high at 0.6884 on Wednesday, but probes above pivotal barriers at 0.6870/79 (55DMA / 50% retracement of 0.7082/0.6677) were so far short-lived. Fresh risk sentiment keeps the Aussie afloat and offsets negative...
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