USDJPY Testing Channel Support
The USDJPY pair is under pressure towards the 111.00 support level on Friday, as traders move into the safety of the Japanese yen currency. The USDJPY pair is currently testing major trendline support from a rising price channel on the...
EURUSD Awaiting US Job Report
The euro currency has remained under downside pressure against the US dollar during the European trading session, with the pair now awaiting the US monthly job report. Bearish intraday selling pressure should continue while price trades below the neckline of...
GBP/USD Outook: Bears Are Taking A Breather Ahead Of Probe Through 30SMA And Attack At Key 200SMA Support
Cable consolidates above strong supports at 1.3050 zone (converged 20/30SMA’s) approached on Thursday’s bearish acceleration through pivotal 1.3129 Fibo support (38.2% of 1.2772/1.3349 rally) that resulted in daily fall of 0.65%. Sterling was pulled lower by Euro’s weakness and Brexit...
Elliott Wave View: EURUSD Breaks Down After ECB Meeting, What’s Next?
In today’s meeting, the ECB (European Central Bank) has downgraded their economic growth and inflation forecast. In addition, it has announced a fresh stimulus in the form of TLTRO (Targeted Longer-Term Refinancing Operations). This is basically a long term loan...
EURCAD Bulls Give Up Rally at the Upper Bollinger Band; Golden Cross Eyed
EURCAD is going downhill in the 4-hour chart, retracing all the gains it collected on Wednesday after piercing the upper Bollinger band. The MACD has slipped below its red signal line and the RSI dipped below its 50 neutral mark,...
USDCHF Advances With Strong Momentum in Short-Term
USDCHF has come under renewed buying interest over the last four days and today is still increasing its positive momentum. Technically, the red Tenkan-sen line is pointing upwards, indicating a bullish move, while the RSI is aggressively moving towards the...
EUR/JPY: Retains Downside Pressure With Eyes On 125.53 Zone
EURJPY retains downside pressure with eyes on 125.53 zone. Support comes in at the 125.50 level where a break if seen will aim at the 125.00 level. A cut through here will turn focus to the 124.50 level and possibly...
WTI Oil Outlook: Oil Price Ticks Higher But Remains In The Middle Of Three-Week Congestion
WTI oil price stands at the front foot on Thursday as sentiment improved and positive impact from OPEC production cut and sanctions on Venezuela and Iran offset negative effect from record US oil output and unexpected strong rise in crude...
Elliott Wave View: DAX Structure Remains Bullish As Pullback In Progress
Short Term Elliott Wave view in DAX shows a bullish sequence structure from December 28, 2018 low, favoring further upside. The Index has potential to reach 100% extension towards 11912 – 12157 before ending cycle from December 2018 low. The...
WTI OIL Outlook: Oil Price May Extend Lower if US Crude Stocks Rise
WTI oil price dipped to $55.80 on Wednesday, following double rejection at $57 zone on Mon/Tue, pressured by unexpected rise in US crude stocks (API report on Tuesday showed build of 7.9 mln bls compared to last week’s 4.2 mln...
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