EURUSD Tumbles On Price Sell Off
EURUSD tumbles on price sell off as it look to extend more weakness. Support comes in at the 1.1200 where a violation will turn risk to the 1.1150 level. A break below here will target the 1.1100 level. Further down,...
GBPCAD Meets Support at 1.7350 Again; Loses Momentum
GBPCAD touched the 38.2% Fibonacci retracement level of the upleg from 1.6590 to 1.7795 around 1.7335 once again, failing to decline further. Currently, the price is developing within the Ichimoku cloud, while the 20- and 40-simple moving averages (SMAs) posted...
AUD/JPY 4H Chart: Bullish Sentiment To Continue
The AUD/USD exchange rate has been trading within a narrow ascending channel pattern since the end of March. Given that the currency pair is being pressured by the 50-, 100– and 200-hour simple moving averages, it is likely that an...
GBP/JPY 4H Chart: Set For Breakout
The British Pound has appreciated about 9.79% in value against the Japanese Yen since the beginning of January. This movement was guided in an ascending channel pattern. Currently, the currency pair is testing a support level formed by the lower...
EUR/USD Likely To Decline
Yesterday, the EUR/USD currency pair tried top surpass the support level formed by the 55– and 100-hour SMAs at 1.1299. During Thursday’s morning, the Euro significantly depreciated against the US Dollar. It is likely, that the Euro stays under pressure...
GBP/USD Could Reach 1.3000
On Wednesday, the GBP/USD exchange rate tested the support level—the weekly S1 at 1.3027. During today’s morning, the rate surpassed the given support. Given that the currency pair is pressured by the 55-, 100– and 200-hour SMAs, currently located in...
Elliott Wave View: Further Correction In Gold Expected
After forming a high on February 20, 2019 at $1346.75, Gold has continued to correct lower. The structure of the pullback from February 20 high appears incomplete. This suggests further downside is possible. The decline is unfolding as a zigzag...
USDCHF Moves Towards Major Resistance
USDCHF moves towards major resistance residing at 1.0127 area. Resistance stands at the 1.0127 level. A break of there will clear the way for a run at the 1.0150 level. Above here, resistance lies at the 1.0200 level and then...
USD/CAD Outlook: Loonie Rises on Solid Data/Weaker Greenback
The pair accelerated lower on Wednesday, as the greenback weakened across the board on signals of stronger than expected China’s economic growth, with Canada’s CPI in line with expectations (Mar 1.9% vs 1.9% f/c) while trade gap unexpectedly narrowed in...
AUD/USD Outlook: Strong China’s Data Pushed Aussie through Key Barriers
The Aussie dollar maintains positive tone and holding near two-month high at 0.7205 at the beginning of US session on Wednesday. Stronger than expected data from China that showed faster than expected economic growth, boosted Australian dollar for probe above...
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