GBP/JPY Drops to Support amid Brexit Stalemate and CPI Miss
The British pound was the weakest major currency yesterday on the back of reports that there was no agreement on a customs union between Labour and Conservatives. No surprises there then. It fell further this morning in reaction to the...
AUDUSD Pierces 200-Day MA After A Year, Bias Cautiously Bullish
AUDUSD crawled slightly above the 200-day simple moving average (SMA) early on Wednesday for the first time in more than a year to meet resistance at a two-month high of 0.7205. Positive momentum could hold in the short term as...
CAD/JPY Bounces Off Support
Earlier, we reported that the EUR/JPY could make a comeback thanks to the ongoing rally in stock markets, boosting the appeal of XXX/JPY pairs. Another potential reversal may already have taken place in the CAD/JPY, ahead of Canadian CPI data...
XAU/USD Outlook: Spot Gold Falls to 4 1/2 Month Low, Pressured by Strong Risk Mode
Spot gold holds in red for the fourth straight day and accelerates lower in early US trading on Tuesday. Fresh weakness hit new 4 1/2 month low, marking daily loss of 0.93% until now. Solid economic data from major economies...
WTI Oil Outlook: Pullback Holds above 10SMA ahead of Oil Inventories
WTI oil price holds slight bid tone on Tuesday following double downside rejection ($63.02/11 on Fri/Mon) and Monday’s close above 10SMA ($63.45) which also formed Hammer candle, generating initial signal of stall of pullback from $64.77 peak. Repeated close above...
GBPAUD Rebounds on 2-month Low; Downside Correction in Near Term
GBPAUD rebounded on the two-month low of 1.8195 on Monday, sending prices above the 38.2% Fibonacci retracement level of the upleg from 1.7220 to 1.8860, around 1.8195. The RSI is turning slightly higher approaching the 50 level, while the stochastic...
EUR/USD Completes Bearish ABC Correction In Uptrend
The EUR/USD is using the 21 ema zone as support. If price manages to stay above the support trend line (blue), then a bullish trend continuation is the mostly scenario. In that case, the Fibonacci targets could be in vision...
GBP/USD Remains In Uptrend Above 1.3000
Key Highlights The British Pound remains well supported above the key 1.3000 support against the US Dollar. A major bullish trend line is in place with support at 1.3040 on the daily chart of GBP/USD. The NY Empire State Manufacturing...
GOLD Looks To Extend Its Bear Pressure
GOLD looks to extend its bear pressure as it following through lower on the back of its past week losses during Monday trading session. On the downside, support comes in at the 1,280.00 level where a break will turn attention...
DOW: Sentiment Sours on Weak Bank Earnings
The Dow Jones eases from marginally higher one-week high at 26474 on Monday, as mixed bank earnings soured the sentiment. Signals that earnings season will disappoint came from weaker than expected earnings results for Goldman Sachs, Citi and Bank of...
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