EUR/USD Analysis: Reveals Ascending Pattern
The EUR/USD currency exchange rate has revealed an ascending channel pattern. The pattern represents the rate’s surge following the bounce off from the lower trend line of a dominant descending pattern. In the near future the rate is expected to...
Elliott Wave Analysis: EURCAD at Interesting Levels; More Weakness in View
Let’s take a look at daily chart of EURCAD. What we see is a leading diagonal into wave A/1 from highs and a current recovery since the beginning of October definitely looks slow and corrective. But, the most important part...
EURGBP Moves Slightly Higher, Remaining above SMAs
EURGBP has been edging higher since Wednesday’s session, remaining above the strong support level of 0.8940. The technical structure endorses the short-term bullish sentiment as the RSI is heading towards the overbought level and the MACD oscillator created a positive...
Gold Continues to Shine as Fed Decision Looms
As we mentioned the possibility in our week ahead report on Friday, gold has indeed broken further higher. The safe-haven asset has been supported by (1) continued weakness in the dollar and (2) raised volatility in the stock markets, ahead...
EUR/USD Close Above W H4 Will Target 1.1445 And 1.1478
The EUR/USD has formed a V Shaped Reversal at the bottom but the price is still range bound. A strong H4/ D1 close above 1.1400 is needed for new bullish bounce. The EUR should be more resilient than other G10...
US 500 Index Moves above 14-Month Trough; Outlook Switches to Negative
The US 500 index had a bearish start on Monday, with the price breaking a crucial support at 2600 to drop towards a 14-month low of 2529.80 and taking its year-to-date losses to 4.7%. The price has also increased distance...
XAU/USD Outlook: Spot Gold Pressures Key Barriers, Supported by Expectations of Dovish
Spot gold retests $1250 barrier (10 Dec high) on Tuesday, in extension of previous day’s rally, signaling full retracement of $1250/1232 corrective phase and possible continuation of larger uptrend from $1196 (13 Nov low). Bulls eye key barriers just above...
USD/CAD Looks To Extend Medium Term Upside Pressure
USDCAD looks to extend medium term upside pressure following its higher close the past week. Support comes in at the 1.3350 level where a break will aim at the 1.3300 level. Further down, support comes in at the 1.3250 level...
EUR/JPY Tests 38.20% Fibo
The common European currency depreciated about 113 base points against the Japanese Yen on Friday. The currency pair breached both the 50-, 100-, and 200-hour SMAs during the previous session. (if you want to trade professionally use our forex robot) Today’s...
EUR/JPY: Euro Extends Decline as Eurozone Growth Concerns Mount
Yesterday’s slightly more dovish ECB statement and press conference saw the euro fall. And there has been further follow-through on the back of today’s publication of disappointing manufacturing and services sector surveys from the Eurozone, underscoring the ECB President Mario...
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