EUR/GBP – Three Days Until Brexit, Again
Biggest week yet for Brexit, until the next one Brexit drama may be ramping up and desperation kicking in, but traders remain in quite a relaxed mood as we navigate through another hugely important week in the process. May has...
WTI Oil Futures Trade Overbought At 5-Month Highs
WTI oil futures picked up further steam early on Wednesday to unlock a fresh 5-month high of 64.74. According to the RSI and the Stochastics, the market is trading in overbought zone, suggesting that the price could soon reverse lower....
Market Morning Briefing: USDCNY Is Trading Below 6.7270
STOCKS Global equities seem to be losing momentum. Among the major indices DAX looks vulnerable for a sharp fall while others like the Dow, Nikkei, shanghai, Sensex and Nifty can either consolidate or dip slightly before moving higher. Dow (26341.02,...
USD/TRY Outlook: Turkish Lira Falls Further in Post-Election Turmoil; Jobs Data in Focus
The USDTRY rallied on Monday too new two-week high, signaling eventual break above strong Fibo barrier at 5.6354 (61.8% of 5.8410/5.3026), below which the action was congested for over one week, unable to clearly break higher, despite strong upticks. Fresh...
EURNZD Extends Bullish Actions Despite Overstretched Stochastic
EURNZD reached overbought levels according to the stochastic oscillator as the price hovers above the 23.6% Fibonacci retracement level of the downward movement from 1.7925 to 1.6885, around 1.6675, recording a fresh one-month high, today. While the aforementioned technical indicator...
WTI Outlook – Bulls Hit New 2019 High And Pressure Key Technical Barriers
WTI oil price hit new 2019 high at $63.51 on Monday (also highest since early Nov 2018), in extension of last Friday’s strong bullish acceleration and previous week’s 5.2% rally. OPEC+ group’s production cut and US sanctions against Iran and...
EUR/JPY Set For Breakout
The common European currency versus the Japanese Yen traded with low volatility on Friday. The 50-hour simple moving average provided support for the currency pair during Friday’s trading session. Today’s session began with bearish sentiment, and by the middle of...
Market Morning Briefing: Pound Is Trading Above Support At 1.30
STOCKS Among the indices, the Dow and Shanghai remains bullish. DAX and Nikkei have key resistances ahead and a near-term pull-back cannot be ruled out in them before further upmove. Sensex looks mixed while the Nifty seems to have the...
Gold – Remains Weighed Down by USD
Will USD continue to drag on gold? The dollar may be trading a little softer today but another strong day on Thursday is keeping the pressure on gold which has been weighed down by it over the last couple of...
USD/CAD Forecast: Greenback Advances Against Loonie on Strong US and Weaker Canada’s Jobs Data
The pair rallied to one-week high at 1.3402 after US / Canada jobs data, but fresh bulls were so war unable to hold high levels Impact from stronger than expected NFP (Mar 196K vs 175K f/c / 20K Feb) was...
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