UK 100 Index Runs Towards 5-Month High; SMAs Act as Supports
UK 100 stock index (FTSE 100) has advanced considerably after touching the 38.2% Fibonacci retracement level of the downleg from 7900 to 6533, around 7060. During Tuesday’s session the price gained some more ground driving the market towards a fresh...
EURNZD Rests Falling Trend Line; Indicators Flatten Out
EURNZD has been hovering within a downward channel after the pullback on the 1.7200 psychological level on January 3. Today, the price pierced the 40-simple moving average (SMA) and the falling trend line earlier but it could hold above them,...
USD/JPY Target 111.90
Pivot (invalidation): 111.45 Our preference Long positions above 111.45 with targets at 111.75 & 111.90 in extension. Alternative scenario Below 111.45 look for further downside with 111.30 & 111.15 as targets. – advertisement –
Comment The RSI is bullish...
Gold Price Could Continue To Rise Near Term
Key Highlights Gold price found support near $1,292 recently and climbed above $1,300 against the US Dollar. There was a break above a key bearish trend line with resistance at $1,305 on the 4-hours chart of XAU/USD. The US Factory...
GBPCAD on a Slippery Mode; Stays Positive in Medium Term
GBPCAD is losing momentum after finding a strong resistance obstacle around the nine-month high of 1.7795 in the preceding week. The technical indicators are slowing down, mirroring the market’s behavior over the last days as the RSI is flattening in...
GBPUSD Risk Continues To Point Higher Despite Price Hesitation
GBPUSD risk continues to point higher despite price hesitation. Support stands at 1.3250 level. Further down, support comes in at the 1.3200 level where a break will turn focus to the 1.3150 level. Further down, support lies at the 1.3100...
FTSE Pushes on Despite Brexit Uncertainty
In recent days, we have been talking up the prospects of stronger recovery in European stock markets, owing in part to the falling government bond yields as a result of major central banks like the European Central Bank turning dovish...
FTSE – Breaking From An Inverse Head And Shoulders Bottom
Technical Weekly: Trading within a long-term bullish channel. The recent corrective move from the highs at 7904 stalled at the 50% Fibonacci retracement level (6699). Buyers were found at this level and the market has rallied. There is no sign...
Market Morning Briefing: Pound Is Stuck In The 1.34-1.34 Region
STOCKS Global indices are broadly positive and are likely to move higher in the near term. The pace of upmove could be slow though. Dow has risen above a key resistance. Shanghai is gaining strength and seems to be gearing...
GBP/USD Outlook: Eases Further as Bets Against MV3 Approval Rise; Parliament’s Discussion about Brexit Delay
Cable holds slightly above daily low at 1.3220 in early American session trading on Monday, after the action was capped at 1.3300 in Asia and fresh acceleration lower commenced on comments about MV3, by Boris Johnson in early European session....