EUR/USD Analysis: Limited Correction Ahead Of Final Push Towards 1.1176 Target
Deeply oversold stochastic signals adjustment after last week’s strong fall, but overall structure remains negative. Strengthening bearish momentum and double close below pivotal Fibo support at 1.1240 (76.4% of 1.1176/1.1448) add to negative outlook. Solid offers at 1.1280/1.1300 zone (broken...
EUR/JPY Reaches 200-Hour SMA
The common European currency appreciated about 59 base points against the Japanese Yen on Friday. The currency pair was supported by the 50-hour simple moving average. The exchange rate was trading near a resistance level formed by the 200-hour simple...
GBP/USD And USD/CAD At Risk Of More Losses
GBP/USD declined sharply below the 1.3165 and 1.3085 support levels. USD/CAD also declined recently and broke the key 1.3400 support level to move into a bearish zone. Important Takeaways for GBP/USD and USD/CAD The British Pound failed to clear the...
EURUSD Bear Pressure Remains Intact, Looks To Weaken Further
EURUSD bear pressure remains intact as it looks to pressure further lower in the new week. 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...
GBP/USD Outlook: Sterling Cracked Key Supports after UK Lawmakers Rejected Brexit Plan Again
Cable collapsed below 1.30 on Friday and cracked key supports (200SMA/bull-channel support trendline and also pressured the top of thick daily cloud) after UK parliament rejected PM May’s deal for the third time. Lawmakers voted 344 against vs 286 for...
USD/CAD Outlook: Loonie Surges on Stronger than Expected Canada’s GDP Data
The pair fell sharply on announcement of upbeat Canada’s GDP (Jan 0.3% m/m vs 0.1% f/c and -0.1% prev) while US personal income and spending fell below expectations in Jan.Canadian dollar was inflated by stronger than expected data while the...
CRUDE OIL Eyes 60.37 Resistance Zone And Beyond
CRUDE OIL eyes 60.37 resistance zone and beyond as it follows through higher on its Thursday price reversal. Support lies at the 59.50 level where a break will expose the 59.00 level. A cut through here will set the stage...
USDTRY Could See Further Improvement in Near Term
USDTRY has advanced above the 20- and 40-day simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the sell-off from 7.1135 to 5.1330, around 5.5970 on Friday. Over the last couple of days, the price has been paring...
AUD/USD Tested 100– And 200-Hour SMAs
Downside risks prevailed in the market on Thursday, thus allowing the Australian Dollar to decline about 41 base points against the US Dollar. The currency pair tested the lower boundary of an ascending channel pattern at 0.7064. Everything being equal,...
USD/CAD Awaits Canadian GDP
During the last 24 hours, the US Dollar has appreciated about 55 base points against the Canadian Dollar. The currency pair tested the lower boundary of an ascending channel pattern at 1.3400 during yesterday’s trading session. As for the near...
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