GBPJPY Chases Soft Gains; Short-Term Outlook Somewhat Gloomy
GBPJPY found strong footing around its longer-term 50- and 200-day simple moving averages (SMAs) this week, but the price could only gradually strengthen to 154.80 since then, unable to recoup January’s losses. While the 50- and 200-day SMAs have escaped...
US 30 Index Remains Negative in Short-Term; SMAs Post Bearish Cross
The US 30 (Cash) index rebounded off the seven-month low of 33,145, gaining some momentum, but the short-term simple moving averages (SMAs) posted a bearish crossover. The RSI indicator is flattening near the oversold zone, while the MACD oscillator is...
SPX 500 Struggles for Support
Upcoming US rate hike still weighs on equity markets. A tentative break below last October’s low (4300) has put the S&P 500 on the defense. A bearish MA cross on the daily chart shows that sentiment could be deteriorating as...
US Oil Breaks to New High
Oil climbed amid fears of disruption as tensions between Russia and the West grew. After a short-lived pause, WTI crude saw bids near a previous low at 82.00 which lies on the 20-day moving average. A break above the January...
AUD/USD Struggles Below 0.7200, Oil Rallies
Key Highlights AUD/USD started a fresh decline from well above 0.7280. It traded below a key contracting triangle with support near 0.7185 on the 4-hours chart. EUR/USD is struggling below 1.1300, and GBP/USD declined below 1.3500. Crude oil price gained...
EUR/USD and GBP/USD Elliott Wave Analysis: More Weakness Ahead
The escalation of US-Russian tensions over Ukraine and hawkish Feds policy is worrying for investors which are moving into cash. We see a sharp sell-off on the stock market which may try to stabilize, but technically weakness appears incomplete. If...
EUR/USD Pair Started a Fresh Decline from 1.145
The Euro started a fresh decline from well above the 1.1450 zone against the US Dollar. The EUR/USD pair traded below the 1.1400 support zone to move into a bearish zone. There was also a move below the 1.1350 level...
Two trades to watch: USD/JPY, GBP/USD
USD/JPY falls in risk off trade USD/JPY is heading lower for a third straight session. Risk off trade is boosting demand for the safe haven yen in addition to a tick higher in Japanese inflation to 0.8% YoY in December, up...
EUR/USD Eyes Down Towards 1.1185: Elliott Wave Analysis
USD and JPY are coming higher as stocks continue to weaken with SP500 breaking below 4500. So risk-off may resume which can allow USD to recover even more. EURUSD came higher last week after US CPI figures. Pair moved to...
GBPJPY Moves Sideways after its December Rally
GBPJPY has been in a trading range since early January without being able to indicate a clear direction. Moreover, the pair has recently crossed below its 50-period simple moving average (SMA), indicating that negative forces might be gaining ground. Short-term...