USD/JPY: Two Scenarios Likely
On Thursday, the USD/JPY currency pair dropped to the monthly S3 at 109.12. During Friday’s morning, the pair declined to the support level—weekly S1 at 108.83. If the given support level holds, it is expected, that a reversal north could...
EURCAD Forms Symmetrical Triangle; Neutral in Short Term
EURCAD has been moving in a symmetrical triangle over the last seven months following the soft rebound on the 1.4750 support level. In the short-term, the market could maintain consolidation if the RSI keeps moving around 50 and the MACD...
USDTRY Tumbles Below 38.2% Fibonacci and 50-SMA
USDTRY is aggressively diving to a fresh one-month low today, below the 38.2% Fibonacci retracement level of the downfall from 7.1135 to 5.1330 around 5.8855. Looking at the technical indicators, the RSI is slipping below the 50 level, suggesting a...
USD/CAD Can Be Ready To Rumble, Bears Ahead!
USDCAD shows a double zig-zag in play, currently moving into final phase of this correction. The reason for this count is a recent deep pullback to the lower trendline support which in fact caused a nice bounce so looks like...
Copper Outlook: Bears Accelerate on Fresh Threats of Escalation of Trade War
Copper price slumped on Wednesday (down 1.43% since Asian opening and ahead of US session). The metal extends weakness into second straight day on threats of escalation of US/China trade conflict that would hurt economic growth and reduced demand. Fresh...
USDCHF Still Holds above Rising Trend Line
USDCHF rebounded on the 1.0007 support level in the preceding week, remaining above the ascending trend line, which has been holding since September 2018. The stochastic oscillator has come off from the negative level indicating positive movements despite the bearish...
USDJPY Nearing Breakout Support
The US dollar has slipped back towards the worst trading levels of the week against the Japanese yen currency due to recessionary fears coming from the US bond market. USDJPY bulls have also been unable to move price above the...
Crude Oil Back on a Slippery Slope
Crude oil prices have been quite volatile of late, owing to a simultaneous rise in supply-side risks and investor concerns over demand. Oil exports have fallen in Iran because of the US sanctions while outages in Venezuela, and elsewhere, have...
EURGBP Extends Reversal from Double Bottom to Reach 4-Month High
EURGBP has advanced considerably around a fresh four-month high of 0.8850 in the previous couple of days following the creation of a double bottom formation around 0.8470 and 0.8490. The aggressive bullish run has led the price to pare some...
Market Morning Briefing: Dollar Index Has Risen Well From Levels Near 97.50
STOCKS Asians are trading positive. The way Shanghai Composite index is holding above 2835 is turning the bias positive. Is this an indication to get some positive development on the US-China trade negotiation front? We have to wait and see....
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