EUR/USD Struggling While USD/CHF Is Approaching Support
EUR/USD declined to a new multi-month low at 1.0926 and is currently correcting higher. USD/CHF is currently correcting gains, but it is approaching a few key supports near 0.9840. Important Takeaways for EUR/USD and USD/CHF The Euro is correcting higher...
EURAUD Bears Retrace Down; Halt at the 61.8% Fibonacci Level
EURAUD bulls pushed to a peak of 1.6678, slightly above the January 3 high of 1.6655, before sellers took control and sent the pair back down to 1.6230, which is the 61.8% Fibonacci retracement level of the up-wave from 1.5893...
USD/TRY Outlook: Lira Advances After Bigger Than Expected Inflation Drop
The Turkish lira firmed on Tuesday as inflation drops (Aug CPI 15.01% vs 15.51% f/c, 16.65% July). The USDTRY pair fell to the lowest in 1 1/2 week, following multiple upside rejections under the top of falling daily cloud. Fresh...
GBP/USD Restarts Downtrend, 1.2000 Support At Risk
Key Highlights The British Pound declined below the key 1.2150 support area against the US Dollar. GBP/USD traded below a major bullish trend line with support at 1.2175 on the 4-hours chart. The UK Manufacturing PMI declined from 48.0 to...
WTI OIL Outlook: Bears Take a Breather above Key Fibo Support
WTI oil price is holding in sideways mode on Monday, contained by important Fibo support at $54.45 (61.8% of $52.95/$56.88) and consolidating after Friday’s strong fall. Escalation of US-China trade war increases pressure on oil price as fears of reduced...
USDJPY Slight Risk Aversion
The US dollar has had a fairly soft start to the new trading month against the Japanese yen currency, after the new Sino-US trade tariffs took effect over the weekend. The overall trading sentiment is fairly weak, which is keeping...
US Dollar Screaming Higher as Month End Flows Dominate
As we wrote about earlier in the week, sometimes month end flows can come out of nowhere and lead to large, sometimes even exaggerated moves in the market. Today is the last trading day of the month and that could...
Fib Extensions Point to a Possible Bounce in NZD/USD
The New Zealand Dollar, otherwise know as the kiwi, has been the dog of currencies over the second half of summer. In particular, the NZD/USD is down almost 500 pips since July 22nd. Fundamentally, this move is primarily due to...
GOLD Trades Below Key Support On Correction
GOLD trades below key support on correction as it remains vulnerable. On the downside, support comes in at the 1,520.00 level where a break will turn attention to the 1,510.00 level. Further down, a cut through here will open the...
USD/JPY Outlook: Bulls Lose Traction on Existing Tariff Fears
The pair dips towards 106 handle on Friday as traders took profits from two-day rally that spiked to one-week high at 106.68 on Thursday. Also, persisting fears of new tariff hikes on 1 Sep, despite signals of continuation of talks...
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