USD/ZAR Outlook: Pullback Extends after Strong Upside Rejection
Bulls are losing traction as the price eases for the second day, following strong upside rejection on Friday (spike high was left at 15.17, the highest since early Sep) before quick pullback. Daily stochastic reversed from overbought territory, RSI turned...
US 100 Index Recovers Notable Losses in Short Term
The US 100 index advanced considerably in the previous week, penetrating the Ichimoku cloud following the rebound on the 6930 support level. However, the bulls have so far been unable to push the price above the 50-day simple moving average...
GBP/USD And USD/CAD: US Dollar Showing Signs Of Weakness
GBP/USD gained pace this past week and recovered above the 1.2700 resistance. USD/CAD declined steadily below 1.3300, signaling short term US Dollar weakness. Important Takeaways for GBP/USD and USD/CAD The British Pound started a decent recovery and recovered above 1.2700...
Elliott Wave Analysis: S&P500 Is Already Bullying the Bears; More Upside Expected!
S&P500 made a clear five-wave recovery from end of December of 2018, and towards end of March of 2019. We can see that afterwards a three-wave pullback had unfolded, which we labelled it as an A-B-C correction. This correction is...
Downbeat US Jobs Data Send Euro Through Key Barriers
The Euro jumped to 2 1/2 month high at 1.1326 on Friday after disappointing US jobs data that further depressed the dollar. US NFP showed only 75K new jobs in May (the lowest since Feb) expectations for 185K and downward-revised...
AUDJPY Bulls Face Big Challenge Around 20-SMA
Selling interest is continuing in the AUDJPY market, remaining below the 20-day simple moving average (SMA). However, the technical indicators are suggesting a possible upside correction. The MACD is strengthening its bullish momentum above the trigger line, while the RSI...
EUR/USD: Descending Channels In Sight
Yesterday, the EUR/USD currency pair tested the upper boundaries of the short-term and long-term descending channels at the 1.1293 mark. During Friday’s morning, the support level formed by the 55– and 100-hour SMAs, the monthly R1 and the weekly R2...
GBP/USD Could Trade Sideways
On Thursday, the GBP/USD exchange rate tested the support cluster formed by the 55-, 100– and 200-hour SMAs in the 1.2661/1.2701 range. Note, that the rate is trading near the upper boundary of the short-term descending channel located circa 1.2734....
USD/JPY Might Trade Down
During the previous trading session, the USD/JPY currency pair reached the upper boundary of the short-term ascending channel at 108.57. During today’s morning, the pair was trading along the given line. From a theoretical point of view, it is expected,...
XAU/USD Could Target 1,345.00
On Thursday, the XAU/USD exchange rate traded sideways around the monthly R2 located at the 1,333.67 mark. Note, that the rate is supported by the 55-hour moving average, currently located at the 1,333.27 mark. Thus, it is likely, that bulls...
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