GBP/USD Pressured By 200-Hour SMA
During the previous trading session, the GBP/USD exchange rate tested the weekly PP at 1.2574. During today’s morning, the pair was testing the resistance level formed by the 200-hour SMA and the monthly S1 at 1.2545. If the given resistance...
USD/JPY Showing Signs Of Weakness Below 108.50
Key Highlights The US Dollar topped near 109.00 and recently declined against the Japanese Yen. USD/JPY traded below a major bullish trend line with support near 108.25 on the 4-hours chart. The US CPI in June 2019 increased 0.1% (MoM),...
EURNZD Touches 200-Day SMA; Next Support at 1.68
EURNZD has been declining considerably since yesterday, after the bounce off the 23.6% Fibonacci retracement level of the upward rally from the 18-month low of 1.6285 to the eight-month high of 1.7305 near 1.7050. The pair is ready to touch...
WTI OIL Outlook: Fresh Bulls Extend Above Important Fibo Barrier At $60.47
WTI oil price hit the highest level since 23 May and establishing above psychological $60 barrier, in today’s extension of Wednesday’s 3.2% advance. The oil price received fresh boost from significant drop in US crude inventories (EIA report showed draw...
USD/CHF Correcting Lower Before Fresh Increase
Key Highlights The US Dollar struggled to break the 0.9950 resistance against the Swiss Franc. There are many important supports for USD/CHF near 0.9860 and 0.9840. The US Wholesale Inventories increased 0.4% in May 2019, similar to the forecast. The...
Loonie Falls after BoC but Unable to Clear initial Support
The Canadian dollar fell after BoC kep interest rate unchanged at 1.75% as expected but soured the sentiment on negative projections for the economy in coming two years if the US increases tariffs by 25% on all imports. Canada’s economy...
EURJPY Rests Near 23.6% Fibonacci, Ascending Triangle Holds
EURJPY is testing the 23.6% Fibonacci region from the high on 126.80 to the low on 120.77, around 122.20 as it seems ready to continue the very short-term upside tendency. The 20- and 40-simple moving averages (SMAs) posted a bullish...
Gold – Pares Gains on Dollar Rebound
The dollar is continuing to enjoy a post-jobs report bounce today, up around 0.2%, as Fed interest rate cuts continue to dominate investors’ mindsets. With global economic prospects increasingly in doubt as we head into another important earnings season, the...
EURAUD Runs Towards 23.6% Fibo; Bullish Outlook
EURAUD finally reversed to the upside last Thursday after printing higher lows and higher highs in the preceding seven months to reach a five-month high of 1.6445 on June 18. Momentum indicators in the daily chart though are currently supporting...
GBPUSD Flirts With 6-Month Low, Holds In Descending Channel
GBPUSD plunged to a six-month low of 1.2480 on Friday, continuing the strong sell-off from March 13. The pair is currently hovering near the return line of the descending channel and the short-term moving averages are following the downfall of...
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