EURCAD Ticks above 22-Month Low; Looks Oversold
EURCAD recovered slightly to the upside after it reached a fresh 22-month low around the 1.4600 psychological mark last week. However, the pair dived aggressively from the 1.4880 – 1.5210 trading range, extending bearish actions below the short-term moving averages...
USD/TRY Outlook: Turkish Lira Stands At The Back Foot Ahead Of CBRT Rate Decision On Thursday
The Turkish lira remains in defensive mode for the second day as dollar bounced on lowered expectations for Fed’s 0.5% rate cut. The pair dipped to 5.5977 on Friday, to cover the gap from 8 July when lira fell sharply...
EURUSD Hovers Near 1.1200, Maintains Weak Bias In Near Term
EURUSD has been under pressure over the last three weeks as it failed several times to jump above the short-term simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the downleg from 1.1815 to 1.1106 near 1.1275. Short-term...
EURCHF Creeps Up to 23-month Low; Sellers Push Down Below the Border
EURCHF continued southbound from a 6-month high of 1.1475 on April 23, breaking out of an 8-month period sideways move to push towards a 23-month low of 1.1055. Presently, sellers are fracturing the support trying to continue the bearish bias....
USDJPY Technically Bearish
The US dollar is starting turn heavily bearish against the Japanese yen currency, following a strong downmove toward the 107.20 level. The USDJPY pair has staged a minor recovery as the US dollar index attempts to find its composure once...
GBPUSD Lower High Weighs
The British pound has edged back towards critical support against the US dollar after the pair failed to post a new higher high. The GBPUSD pair could slip back towards the 1.2480 level if the 1.2510 level is broken over...
Gold Drops After Flying To More Than 2-Year High
Gold advanced to a more than two-year high of 1,452.87 earlier today, but quickly reversed lower near the previous highs of 1,438. The technical indicators seem to be overstretched in the daily timeframe as the RSI is reversing lower after...
USD/JPY Outlook: Bears Pause For Profit-Taking, Negative Outlook While 107.80 Caps Upticks
The pair bounces from new low at 107.21 (Thu/Fri lows), boosted by profit-taking after two-day 108.32/107.21 fall. The dollar was hit by dovish comments from Fed on Thursday, but dips found footstep ahead of key support at 106.78 (25 June...
USD/JPY Hits Resistance After Fed Walked Back Williams’ Dovish Comments
About two hours after Europe closed yesterday, stocks and bonds jumped while yields and the dollar dropped as the market’s odds of a 50 basis point rate cut in July spiked to nearly three quarters. This was triggered by New...
EUR/USD Tests Support Cluster
Yesterday, the EUR/USD currency pair skyrocketed to the 1.1280 level and reversed south. During Friday’s morning, the pair was testing the support cluster formed by the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.1236/1.1250 range....
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