USD/JPY Tests Long-Term Channel
During the previous trading session, the USD/JPY currency pair tested the lower boundary of the long-term descending channel at 105.85. During Friday morning, the pair continued to test the given channel line. Note, that the exchange rate is pressured by...
Elliott Wave View: Selling Pressure In Oil Should Continue
Oil shows incomplete bearish sequence from April 23, 2019 high favoring further downside. The recent break below June 5, 2019 low (50.60) confirms the double three Elliott Wave structure from April 23 high and suggests the next leg lower has...
GBPAUD Fails to Exit Descending Channel and Drifts Lower
GBPAUD attempted forcefully to exit the descending channel and breach at once the 1.8200 level and the lower bound of the Ichimoku cloud but its efforts proved fruitless, with the price slipping back to the 1.78 hurdle on Thursday. The...
EURGBP Could Soften In Short-Term
EURGBP flied even higher this week to top its 2-month old rally at 0.9248, the highest mark reached in almost two years. The spotlight is now on the 0.9300 round-level, where any violation may drive the price towards the 0.9400...
Market Morning Briefing: Dollar Index Has Bounced From 97.21
STOCKS The trade tensions between the US and China continue to weigh on the equities. Though the Dow has bounced sharply from the day’s low yesterday, it is still vulnerable to fall further. The other indices like the DAX, Nikkei...
BTCUSD Keeps Bullish Bias Intact
Demand for Bitcoin accelerated this week, with the price running as high as 12,257 on Wednesday before pulling back to the 11,400 support area. The market could retest its latest peaks as the recent rebound in the RSI and the...
EURUSD 1.1187 Key Pivot
The euro has retraced back under the 1.1200 level against the US dollar, following a lack of interest to take the pair above th current weekly trading high. EURUSD bulls need to continue to defend the 1.1187 level in order...
GBPCHF Breaks Below 138.2% Fibonacci Extension, Nears October 2016 Lows
GBPCHF tumbled from 1.3400 on May 3, after failing to break above a previous ten-month high. The pair paused slightly around the sixteen-month low of 1.2292, before reviving the down move past 1.1864, being the 138.2% Fibo extension level of...
GBPUSD Recovery Threats Remain Towards 1.2249 Level
GBPUSD recovery threats remain towards 1.2249 level as we expect more strength in the days ahead. Support comes in at 1.2150 with a turn below that level shifting focus to the 1.2100 level. Further down, support resides at the 1.2050...
EUR/USD Reached 1.1220 Level
Yesterday, the EUR/USD currency pair reached the resistance level formed by the weekly R2 at the 1.1234 mark. During today’s morning, the pair was trading near the given resistance. If the given level holds, it is expected, that a reversal...
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