EURGBP Pares Some Losses after Strong Sell Off in Near Term
EURGBP has been erasing the strong bearish rally that was created the previous six consecutive days, sending prices towards a new two-month trough of 0.8758. The stochastic oscillator is suggesting a positive retracement as the %K line jumped above the...
AUD/USD Outlook: US/China Optimism Keeps Aussie Afloat Despite Repeated Rejections At Cloud Base
The trades within narrow range on Friday, but the sentiment remains positive on US/China talks optimism, keeping the downside limited. Thursday’s spike to 0.7221 following a news report was short-lived and the action again ended below daily cloud base, which...
US 30 Index Crosses Above 50-Day SMA, Neutral In Short-Term
The US 30 index staged a major recovery in recent weeks, after touching an 18-month low on December 26. Price action is now taking place back above the 50-day simple moving average (SMA), which suggests the near-term outlook has shifted...
USD/JPY Outlook: Bulls Look For 110.00+ After Clearing 109.15 Pivot
The pair extends recovery to new two-week high at 109.59 on Friday after bullish signal was generated on Thursday’s close above 109.15 pivot (daily Kijun-sen / 50% retracement of 113.70/104.59). The greenback was boosted by better than expected US jobless...
S&P 500 Supported By A Rising Trend Line
Pivot (invalidation): 2596.00 Our preference Long positions above 2596.00 with targets at 2657.00 & 2685.00 in extension. Alternative scenario Below 2596.00 look for further downside with 2578.00 & 2545.00 as targets. Comment The RSI is bullish and calls for further...
GER30 Stock Index En Route to Third Weekly Gain
The German 30 stock index (DAX 30) has been on the rise since the day it dropped to a two-year low of 10,276 and is now set to register its third weekly gain slightly above the 20-day simple moving average....
CAD/JPY Starts Next Bullish Leg
Short term Elliott Wave view on CADJPY suggests that the rally to 82.4 on Jan 9, 2019 ended wave (W). Pair then corrected in wave (X) as a double three Elliott Wave structure and the dip ended at 81.25. Down...
WTI Oil Outlook: Extended Triangular Consolidation Looks for Fresh Direction Signal
WTI oil stands at the back foot in early US trading on Wednesday, after recovery attempts in Asian session which peaked at $52.50, were short-lived. Tuesday’s bullish outside day pattern provided little support to oil price which stays congested within...
GBPUSD Bulls Still In Control
The British pound has recovered earlier losses against the US dollar after the pair tumbled to the 1.2667 support level, as British PM Theresa May’s Brexit bill was voted down in UK Parliament. The GBPUSD pair retains a strong intraday...
AUD/USD Outlook: Directionless Mode Between 55/100SMA’s and Daily Cloud Base
The Australian dollar eased on Tuesday, pressured by reduced risk appetite but remains within narrow range that extends into third day. Recovery rally from spike low at 0.6706, posted after 3 Jan flash crash, faces strong headwinds from daily cloud...
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