AUD/USD Tests Bottom Border Of Channel Pattern
The Australian Dollar has depreciated about 52 base points against the US Dollar since yesterday’s trading session. The currency pair was guided by a junior descending channel pattern. The exchange rate is gradually moving towards a support level formed by...
EUR/JPY And GBP/JPY Signaling More Upsides
The Euro and British Pound traded higher this week against the Japanese Yen. Both EUR/JPY and GBP/JPY are correcting lower, but dips remain well supported. Important Takeaways for EUR/JPY and GBP/JPY The Euro spiked higher recently after it tagging the...
US500 Index Retests and Pushes Through Previous All-Time High
US 500 stock index after retreating last week, began a sure but steady move to revisit the all-time high of 3019, and currently is climbing above it. The price found support at the Tenkan-sen average, and the moving averages are...
AUDUSD Looks To Weaken Towards 0.6900 Zone
AUDUSD looks to weaken further towards 0.6900 as it retains its downside pressure. On the downside, resistance lies at the 1.6900 level. A cut through here will turn attention to the 0.6850 level and then the 0.6800 level where a...
Market Morning Briefing: Dollar Index Could Head Towards 98.0-98.50
STOCKS Global equities remain mixed. Market seems to be turning cautious ahead of the key central bank meetings. The European Central Bank meeting is due today and the US Federal Reserve meeting is scheduled next week on July 31. The...
WTI Oil Outlook: Upbeat Crude Inventories Could Boost Oil Price for Break above 200DMA
WTI oil price is holding within tight range under Tuesday’s recovery high at $57.46 on Wednesday, with falling 200DMA ($57.23) continuing to cap for the second consecutive day. WTI contract advanced 1.7% in late Tuesday’s trading, after API report showed...
Daily Forex Technical Strategy
EUR/USD – Further drop in progress after minor rebound Broke below the 1.1180 neckline support of the “Head & Shoulders” configuration as expected and dropped lower towards the downside target/support at 1.1130/1120 (click here for a recap on our previous...
NZDJPY Trades Beneath 100-SMA; 50.0% Fibo Holds Inside Gap
NZDJPY recorded a bounce up in the short-term, from the five-and-a-half-month low of 70.25 on June 18, and in the last month has pushed north into the Ichimoku cloud. The price stalled ahead of the upper boundary of the cloud...
WTI Futures Encounter Resistance from Both the 50- and 200-SMAs
WTI oil futures moved north from five-month lows of 50.58 towards the 61.8% Fibonacci retracement of the down move from 66.57 to 50.58, of 60.47, over the last month. Price tumbled from the 61.8% Fibo and lost steam near its...
AUD/USD Decline Likely To Continue
The Australian Dollar continued its movement in a junior descending channel pattern against the US Dollar on Monday. The currency pair declined by 0.44% in value during the previous trading session. Given that the exchange rate has breached both the...
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