EUR/USD Outlook: Different Fed-ECB Policy Outlook May Weigh on Euro
The Euro stands at the back foot on Friday following a bumpy ride after US inflation data on Thursday, but the action ended in a long-legged Doji candle, signaling strong indecision. Although Friday’s action is in red, the downside remains...
AUDJPY Keeps Bullish Mood Intact with Bounce off 200-MA
AUDJPY has pushed over the mid-Bollinger band and is confronting the 83.00 handle after gaining some traction from the 200-period simple moving average (SMA). The longer-term horizontal SMAs are endorsing the broader neutral picture, while the climbing 50-period SMA, which...
EUR/USD and AUD/USD Look for Correction: Elliott Wave Analysis
After the first bearish reaction on the USD after US CPI yesterday, the currency turned down later during the US session. Probably it was due to higher 10 year US yields. Stocks also came down, which is supportive for the...
GBPUSD Trendless Despite Growing Bullish Forces
GBPUSD buyers have resurfaced around the 100-period simple moving average (SMA) after the pair’s recent retreat from a 1.3643 spike. Currently, the SMAs have tangled and are not indicating a clear message in terms of a price direction. That said,...
USD/CHF Struggles Ahead of US CPI Report
Key Highlights USD/CHF corrected gains from the 0.9340 resistance zone. There is a key bullish trend line forming with support near 0.9215 on the 4-hours chart. EUR/USD is holding gains above 1.1400, and GBP/USD attempts to clear the 1.3600 resistance....
US Dollar Index: Dollar Eyes US Inflation Data
The dollar index edges lower on Wednesday after rebound on better than expected US NFP showed signs of stall. Repeated failure to clear initial Fibo resistance at 95.66 (23.6% of 97.42/95.12 bear-leg) weakened near-term structure, as daily MA’s (10/20/55) remain...
AUD/USD Outlook: Risk Appetite Lifts Aussie to Two-Week High
The Australian dollar extends advance into third straight day, lifted by fresh risk appetite that lifted stocks and reopening of Australia’s borders. Bulls broke above last week’s high (0.7168) and pressure pivotal barriers at 0.7181/83 (Fibo 61.8% of 0.7314/0.6967 /...
Gold Climbs above the MAs and the Ichimoku Cloud
Gold recently breached the 1,800 handle and has extended beyond the simple moving averages (SMAs) and the Ichimoku cloud. Although the longer-term averages are endorsing a more neutral trend, the upturn of the 50-period SMA, is suggesting upside momentum is...
GBP/USD Outlook: Sterling Remains in Red for the Second Day Following Upbeat US NFP
Cable remains under pressure on Monday and probes again through 100DMA (1.3508) which contained Friday’s drop (the pair was down 0.5% for the day) as pound came under increased pressure from better than expected US jobs data which inflated dollar....
WTI Oil Rally for the Seventh Straight Week on Geopolitical Tensions and Supply Fears
WTI oil price surged through round-figure $90 resistance and hit new seven-year high above $92 per barrel on Friday. Geopolitical tensions over Ukraine and a winter storm in the United States fueled concerns about supply disruptions and continue to inflate...