EURNZD Completes an Asymmetrical Triangle
EURNZD is likely to extend the sideways move in the short-term until it completes the asymmetrical triangle in the four-hour chart, with the RSI and the MACD backing this view as well as the indicators are lacking clear direction. The...
AUDJPY Consolidates Near 10-Year Lows
AUDJPY fell to a fresh 10-year low of 69.90 earlier this week, before rebounding somewhat to re-enter the sideways range between 72.90 and 70.70 that it had been trading in since early August. The price structure still points to a...
USDCAD Trapped By SMAs Near 50.0% Fibonacci, 1.3345 Resistance Endures
USDCAD has been unable to overcome the 1.3345 barrier, despite breaching the 200-day simple moving average (SMA). The 1.3345 resistance is showing resilience as it was tested multiple times over the last two-weeks of consolidation. The price is slightly above...
Elliott Wave View: Ten Year Notes (ZN_F) Resumes Higher
Short Term Elliott Wave structure in 10 Year Notes (ZN_F) suggests the pullback to 129.28 ended wave 4. The note has resumed higher in wave V. The internal subdivision of wave V is unfolding as a 5 waves impulse Elliott...
EURJPY Rebounds from 2½-Year Low, But Picture Still Negative
EURJPY hit a new 2½-year low earlier this week at 116.55 but found fresh buy orders and recovered a small portion of its losses. That said, the broader outlook remains negative as the price structure still consists of lower highs...
USDMXN Prints a Gravestone Doji and Pulls Back
USDMXN is printing a bearish candle in the four-hour chart after creating a gravestone doji, signaling the continuation of the negative correction. The RSI has also reversed south after peaking slightly below its 70 oversold level, providing additional discouraging signals...
AUD/JPY Impulsive Downleg May Have Resumed
Short-term technical outlook on AUD/JPY Key Levels (1 to 3 days) – advertisement – Intermediate resistance: 71.55 Pivot (key resistance): 72.00 Supports: 70.70 & 69.90/70 Next resistance: 72.90 Directional Bias (1 to 3 days) Bearish bias below 72.00 key short-term...
GER30 Index Consolidates above the 11,338 Level; SMAs Converge
The GER30 index has consolidated in a sideways market in the last 20 sessions, as the 50-period simple moving average (SMA) has flattened and blended with the 100-period SMA. The index has currently moved into the Ichimoku cloud, trading around...
EUR/GBP Outlook: Strong Rebound Needs More Evidence To Signal Reversal
The cross rebounds strongly on negative Brexit news on Wednesday, sidelining immediate downside risk, as strong bullish acceleration fully retraced Tuesday’s 0.7% fall and spiked to four-day high at 0.9123. Fresh negative sentiment for sterling can spark further rise of...
Market Morning Briefing: Dollar Index Remains Stable Above 98
STOCKS Equities are struggling to gain strength and continue remain subdued as the US-China trade war and the fear of a recession are continuing to weigh on the sentiment. As mentioned yesterday the equity indices can run into a sideways...
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