EURNZD Remains Under Pressure Celow 20-day SMA
EURNZD is declining below the 20-day simple moving average (SMA) today, confirming the recent bearish structure in the near term. The RSI is moving towards the 50 level, while the MACD is holding below the trigger line but is still...
US 30 Index Opens with Gap Down; Flirts with 4-Month Low
The US 30 index futures opened with negative gap today below the 38.2% Fibonacci retracement level of the upward movement from the 16-month low of 21,596 to the 6-month high of 26,712 near 24,754. The index is on the back...
GBP/USD And EUR/GBP: British Pound Could Recover
GBP/USD started a decent upward move above the 1.2600 resistance. EUR/GBP is currently correcting lower towards the 0.8830 support area. Important Takeaways for GBP/USD and EUR/GBP The British Pound declined recently and tested the 1.2560 support area. There was a...
Copper on Track for Biggest Monthly Fall Since Jan 2015
Copper remains heavy on Friday and hits lowest levels since mid-January, pressured by rising concerns about spreading and escalation of trade war which threats to reduce global demand for the metal. Fresh extension lower pressures key support at $2.6250 (200WMA),...
EUR/JPY Retains Broader Downside Pressure With Eyes On 122.00 Level
EURJPY retains broader downside pressure with eyes on 122.00 level and beyond in the days ahead. Support comes in at the 121.50 level where a break if seen will aim at the 121.00 level. A cut through here will turn...
GER30 Index Breaches Key Support
GER30 index dived below a former key support area of 11,700 on Friday, signalling the continuation of the bearish action. The RSI is backing this view as well as the indicator keeps losing ground under its 50 neutral mark, while...
Copper Futures Records New Low; Bias Still Bearish
Copper futures with delivery on July 2019 are declining with strong momentum over the last three days below the 20- and 40-simple moving averages (SMAs) in the daily timeframe and recording a four-month low of 2.6260 today. The technical indicators...
Fresh Bearish Acceleration On Tariffs Results In 1% Fall, The Cross Is On Track For The Biggest Monthly Fall Since Brexit Vote
The GBPJPY cross fell nearly 1% in Asian / European trading on Friday, extending steep downtrend from 3 May high at 146.50. Fresh bearish acceleration was sparked by announcement on US tariffs on imports from Mexico that triggered strong demand...
XAU/USD Outlook: Fresh Rally On Risk Aversion Pressures Key Barriers At $1303/06
Spot gold rose close to psychological $1300 barrier on Friday, in extension of strong rally of the previous day and marked nearly 0.8% advance since Asian opening on Friday. Unexpected US tariffs on goods imported from Mexico boosted global fears...
Oil Price Continues To Spiral On Fresh Threats Of Trade War Spread / Record US Output
WTI extends weakness on Friday and hit lowest levels since early March, following Thursday’s strong fall when WTI contract was down 4.5%. Fresh bearish acceleration clearly broke below rising daily cloud base (after several strong spikes lower, but every time...
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