Crude Oil Price Extends Rally Above $85
Key Highlights Crude oil price started a fresh increase above the $80.00 resistance. A key bullish trend line is forming with support near $83.50 on the 4-hours chart of XTI/USD. EUR/USD declined to 1.1310, and GBP/USD found support near 1.3565....
Canadian CPI at 30-Year Highs, USD/CAD Bears Remain in Control
In an otherwise quiet morning for economic data, Canada released its closely-watched CPI data for December. On a headline basis, prices actually fell -0.1% month-over-month as expected, but you can bet that the evening news will latch onto the fact...
GBP/USD Looks for a Correction: Elliott Wave Analysis
GBPUSD was even higher last week after a break above the channel resistance line on the daily chart, so we believe that the pound has bottomed at 1.3130 area, and that we are going to see more upside after any...
GBPUSD Turns South after Reaching 200-Day SMA
GBPUSD is reversing following the advance to the 1.3745 level, which represents a nearly three-month high. Although the price declined following the touch of the 200-day simple moving average (SMA), it remains above the long-term declining channel. The MACD oscillator...
AUDUSD’s Bearing in Question as Gradual Ascent Struggles
AUDUSD turns somewhat neutral as the pair’s improvements have failed to take flight for around one-and-a-half-months now. Currently, the simple moving averages (SMAs) are not implying a specific trend is in place, while the Ichimoku lines are also indicating weak...
Gold Price Moved into a Short-Term Negative Zone Below $1,820
Gold price failed to clear the $1,830 resistance and corrected lower against the US Dollar. The price broke the $1,820 support level to move into a short-term negative zone. Besides, there was a break below the $1,815 level and the...
GBPJPY Drifts Across 156 Mark as Bullish Rally Stalls
GBPJPY is consolidating between the 156.00 handle and the 157.84 level, which is the 161.8% Fibonacci extension of the down leg from 144.94 until 124.00. The simple moving averages (SMAs) are reflecting a fragile neutral-to-bullish trend in the pair. That...
Gold and EUR/USD Trade Higher: Elliott Wave Analysis
The USD remains bearish after US CPI figures this week that came out around expectations, while PPI yesterday increased by 0.2%, less than expected. The dollar is down even after some weakness on stocks yesterday during the US session. So...
EUR/USD Pair is Consolidating Gains above the 1.1450 Level
The Euro started a steady increase from the 1.1320 support zone against the US Dollar. The EUR/USD pair broke the 1.1380 resistance zone to move into a positive zone. There was also a move above the 1.1400 level and the...
USDCAD Stops Near 200-SMA: Temporary Pause or Bullish Setup?
USDCAD slumped towards the 200-day simple moving average (SMA) at 1.2495 after its bullish efforts to cross above the 50-day SMA and enter the 1.2700 territory collapsed, with the pair set to close 1.40% lower this week. Thursday’s session seems...