NZD/USD Set For Breakout
The New Zealand Dollar has depreciated about 50 base points against the US Dollar since Thursday’s trading session. The decline was stopped by the weekly S2 at 0.6771. By and large, it is likely that the NZD/USD currency pair will...
GBPCAD Loses Momentum, Retains Bullish View In Medium Term
GBPCAD declined below the 23.6% Fibonacci retracement level of the upward movement from 1.6590 to 1.7795, near 1.7510 on Friday. The technical indicators are slowing down, mirroring the market’s behavior over the last days as the RSI is dropping below...
EUR/JPY Will Aim For 200-Hour SMA
The single European currency is gradually gaining strength against the Japanese Yen. The currency pair gained about 79 base points during Thursday’s trading session. The exchange rate is currently trading near the 50– and 100-hour simple moving averages at 124.40....
EUR/USD Outlook: Bears Eye 2019 Low For Retest
The Euro holds firmly in red for the fourth straight day and extends weakness, after fresh bearish signal was generated on Thursday’s close below 1.1240 (Fibo 76.4% of 1.1176/1.1448) the last obstacle en-route to 1.1176 (2019). The pair is on...
EUR/USD Depreciates To 61.80% Fibo
During Thursday’s trading session, the currency exchange rate passed through the support levels of the monthly and the weekly S1 to end the trading session at 1.1220. On Friday morning, the rate was located at the 1.1228 mark. In regards...
GBP/USD Trades Without Support Levels
During Thursday’s trading session, the British Pound passed through the support level of the monthly pivot point to end the trading day at 1.3050. On Friday morning, the British pound depreciated against the US Dollar to pass through the weekly...
USD/JPY Passes 61.80% Fibo
During Thursday’s trading session, the currency exchange rate broke through most of the technical indicators to end the day at 110.60. On Friday, the rate was located above the 61.80% Fibonacci retracement level at the 110.77 mark. In regards to...
Elliott Wave View: Short Term Weakness In Silver
Silver broke below March 7 low ($14.96) and shows a sequence of lower low from Feb 21 high ($16.2), suggesting further downside is likely in the shorter cycle. The decline from Feb 21 looks is unfolding as a zigzag Elliott...
Gold Plunges Despite Falling Bond Yields
Gold and silver have failed to shine despite falling bond yields in recent days, and today both metals slumped hard. The metals’ poor performance may be due to several reasons, rather than just one factor. For a start, the US...
USDJPY Recovery Threat Eyes The 111.15/29 Resistance Zone
USDJPY recovery threat eyes the 111.15/29 resistance zone. On the upside, resistance comes in at 111.00 level. Above this level will turn attention to the 111.50 level. Further out, we expect a possible move towards the 112.00 level. A cut...
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