USDJPY Awaiting US Data
The US dollar has come under increasing pressure against the Japanese yen due to the worsening geopolitical situation between Iran and the United States. The USDJPY pair could suffer a technical meltdown if bulls force price under the 107.70 support...
Gold Eyes Prior Peak after Brief Correction
Gold is continuing to edge higher today, supported to an extent by the weaker dollar, not that it held the yellow metal back much yesterday. It found strong support around $1,320 earlier this week and has since burst higher with...
Elliott Wave Analysis: EUR/NZD With 1.7300 In Sight!
EURNZD dropped exactly into projected 38,2% Fibo. retracement and 1.7150 level, which is ideal support for wave »iv«, especially because it’s still trading above strong trend line connected from the beginning of June. So, be aware of another jump, probably...
EUR/JPY Supported By 200-Hour SMA
The single European currency depreciated about 56 base points against the Japanese Yen on Wednesday. The currency pair breached both the 50– and 100-hour SMAs during yesterday’s trading session. Currently, the 200-hour simple moving average is providing support for the...
Copper Futures Attempt to Break above Descending Channel
Copper futures for July delivery have unsuccessfully attempted to pierce the upper boundary of the one-month old descending channel (2.695) on Tuesday. The positive momentum in the MACD signals that upside pressures may return in the short-term, but the price...
USDMXN Holds in Ichimoku Cloud after Negative Gap
USDMXN has dropped considerably over the previous couple of days, after the negative gap, remaining within the 200- and 50-day simple moving averages (SMAs). Currently, the pair is also hovering in the Ichimoku cloud and is trying to surpass the...
USD/TRY Choppy
Pivot (invalidation): 5.7830 Our preference Long positions above 5.7830 with targets at 5.8290 & 5.8570 in extension. Alternative scenario Below 5.7830 look for further downside with 5.7500 & 5.7280 as targets. – advertisement – Comment A support base at 5.7830...
USD/CAD Limping ahead of US CPI
It has been a rather quiet day in FX with the lack of any major Eurozone or North American data to drive the markets. Although Trump took to twitter to again criticize the Fed, this had minimal impact on the...
Gold Bulls Face First Test
We’re seeing some more profit taking in gold on Tuesday, with the rebound in the dollar and stronger risk appetite likely contributing to the declines. Gold failed to break above $1,350 on this occasion, or hold above the February high,...
LTCUSD Could Hit $160.00
Litecoin has advanced to fresh 2019 trading high following a bullish technical breakout above the $120.00 resistance level on Tuesday. The LTCUSD pair is now marching forward, with the $134.00 and $160.00 levels the two major bullish targets ahead. The...
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