USD/CHF Nearing a Make-or-Break Test of Resistance
If you had checked USD/CHF’s exchange rate at Friday’s close and a mere 30 minutes after Monday’s open, you wouldn’t think anything was amiss…at least if you didn’t have any stop losses within 100 pips! As the charts show (and...
GBPUSD – Risk of Fresh Weakness Rises after 100SMA Capped Recovery Attempts
Recovery rally from new three-week low at 1.2832 that commenced in early European trading on Tuesday, showed signs of stall in early hours of American session, as broken 100SMA (1.2890) managed to cap corrective action. In my morning forecast I...
EURAUD on Slippery Slope; Bears Break 1.5900
EURAUD is retreating near 1.5900 below the 23.6% Fibonacci retracement level of the upleg from 1.3625 to 1.6558, approaching the mid-level of the Bollinger Band (20-simple moving average) in the daily chart. Over the last month, the price has been...
GBPUSD Breakdown Continues
The British pound has continued to slip lower against the US dollar during the European trading session, with the pair touching a three-week trading low. The 1.2830 level is now key support, with near-term weakness in the GBPUSD pair expected...
EURUSD Heavily Bearish Below 1.1300
The euro is trading at its weakest level against the US dollar since December last year after sellers finally broke through the important 1.1300 support level. If sellers can move the EURUSD pair below the 1.1260 level, a further decline...
Market Morning Briefing: Dollar Yen Could Continue To Rise While Dollar Index Rises Towards 98
STOCKS Most of the indices broadly remain bearish although there is room for an intermediate bounce in them. Shanghai is making a strong come-back after its long holiday and is outperforming other indicies. Dow Jones (25,053.11, -53.22, -0.21%) is hovering...
GBP/USD Outlook: Cable Breaks Below 1.29 Pivots; Weak UK Data Added to Negative Sentiment
Cable remains at the back foot in early American trading on Monday and probes below pivotal 1.29 support zone, after weak UK data further soured the sentiment. Sterling entered the third week deeply in red, pressured by Brexit concerns and...
USDJPY Rallies With Eyes On Key Resistance At 111.01 Level
USDJPY rallies with eyes on key resistance at 111.01 level. On the upside, resistance comes in at 111.50 level. Above this level will turn attention to the 112.00 level. Further out, we expect a possible move towards the 112.50 level....
US 500 Stock Index Finds Resistance at 200-SMA, Hovers Around 61.8% Fibonacci
US 30 stock index found strong resistance obstacle at the 200-simple moving average (SMA) in the daily timeframe, hovering around the 61.8% Fibonacci retracement level of the downleg from 2,940 to 2,332, near 2,708. The short-term technical indicators support this...
Crude Oil Turning Down
Pivot (invalidation): 52.60 Our preference Short positions below 52.60 with targets at 51.70 & 51.30 in extension. Alternative scenario Above 52.60 look for further upside with 53.00 & 53.40 as targets. – advertisement –
Comment The RSI shows downside...
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