EUR/USD Bullish SHS Needs To Break For Further Bearish Pressure
The EUR/USD has formed a bullish SHS pattern (inverted head and shoulders). Order blocks are keeping the pair from progressing further down. Today’s NFP with all accompanying data will give us the cue for EUR/USD next direction. At this point,...
GBP/USD Outlook: Cable Moves Higher In Early Friday’s Trading Following Previous Day’s 0.65% Fall
Cable moves higher in early Friday’s trading following previous day’s 0.65% fall. Lack of agreement in PM May’s talks with opposition frustrated bulls which repeatedly failed to close above converged 20/30SMA (1.3166/69) as rallies stalled ticks ahead of 1.32 barrier....
The Dow Breaks Out Of Compression
Since its V-bottom, the index rallied over 20% since the December low in an almost straight line. Whilst the index spent a month coiling within a symmetrical triangle, an elongated bullish engulfing candle provided a prominent low, where its failure...
USDZAR Posts New High, Turns Neutral in Medium Term
USDZAR recovered significant ground in recent months, climbing above both its 50- and 200-day simple moving averages (SMAs) to post a new five-month high of 14.74 last week. Even though the pair retreated a little afterwards, the new high at...
EU50 Index Looks Overbought above Uptrend Line; Golden Cross Forming
The blue chip EU50 stock index restored bullish dynamics after meeting resistance at the 200-day moving average (MA) and hit a six-month high of 3,440 on Wednesday. While the RSI and the fast stochastics are warning over an overbought market,...
USDCAD Faces Upside Risk On Price Rejection
USDCAD faces upside risk following its price rejection on Wednesday. Support comes in at the 1.3300 level where a break will aim at the 1.3250 level. Further down, support comes in at the 1.3200 level where a turn lower may...
AUD/USD Outlook: Recovery Fails Again At 55SMA
The Aussie dollar eases to 0.7100 zone following little benefit from renewed risk mode on signs of progress of US/China trade talks, as upside attempts were capped for the third consecutive day at 0.7130 zone and repeatedly failed to clearly...
Elliott Wave View Looking For Further Correction In Gold
Elliott Wave view suggests that Gold has ended cycle from August 16, 2018 low ($1160.37). The yellow metal is currently correcting that cycle as a zigzag Elliott Wave structure. Down from Feb 20, 2019 high, wave A ended at $1281.01...
EUR/USD Outlook: Euro Bounces But Recovery Still Holds Below Pivotal Barriers
The Euro bounces from multi-week low at 1.1183 after strong bears stalled just ahead of key supports at 1.1186/76, boosted by strong EU data (Services PMI Mar 53.3 vs 52.7 f/c; Retail Sales Feb 2.8% y/y vs 2.3% f/c; 2.2%...
AUD/USD Outlook: Aussie Rallied On Strong Data But Face Again Strong Headwinds At 55SMA
The Aussie dollar rallied strongly in Asian session on Wednesday, boosted by upbeat data (Australia’s retails sales Feb 0.8% vs 0.3% f/c and trade surplus widened in Feb to 4.80bn A$ from 4.35 bn A$ in Jan). Better than expected...
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