US 30 Index Hovers around Uptrend Line; Rebound is Expected
The US 30 index is moving lower, approaching again the ascending trend line, which has been holding since February 2. Also, the index dropped below the 50- and 200-simple moving averages (SMAs) in the daily timeframe, while the momentum indicators...
NZDJPY Positive Bias Eases; Still Looks Bullish in Medium Term
NZDJPY retreated after touching a five-month high of 77.70 last week. Still, the pair’s remarkable recovery after coming close to more than two-year lows in early October remains largely intact. The Tenkan- and Kijun-sen lines are positively aligned in support...
New Trend Could Emerge Sterling And Euro
Sterling could break its upward trend Euro could fall further Sterling-Dollar The sterling-dollar pair has failed to break above the downward trend line (shown in orange) on a daily time frame. This confirms that the price is still in a...
WTI Oil Outlook: Oil Hit New 2018 Low On Friday
WTI oil remains in a free fall and fresh bearish acceleration on Friday hit new 2018 low at $51.72 (the lowest in thirteen months). Fears of oversupply in oil market as forecasts for 2019 show the supply is going to...
AUD/NZD 4H Chart: Decline Continues
The Australian Dollar has been trading in several descending channels against the New Zealand Dollar. The most important of the channel pattern is a three-month descending channel which was formed on August 9 and has guided the currency pair to...
EUR/CHF 4H Chart: Bearish Sentiment Likely To Continue
The common European currency is trading in several channels patterns against the Swiss Franc. The most important of the pattern is the two-month ascending channel formed on September 12. During the past week, the price level has surpassed the three...
London Gas Oil Futures Plunge To 8-Month Low, Bearish Bias In Short Term
London Gas oil futures have been underperforming in the past six days, breaking below the 38.2% Fibonacci retracement level of the upleg from 352.63 to 751.00, around the 600.00 handle, recording a fresh eight-month low of 584.50. Momentum indicators are...
USDJPY Continues To Drift Lower
The US dollar has continued to drift lower against the Japanese yen currency, amidst quiet US market holiday trading conditions. Repeated technical failure above the 113.00 level and general risk-aversion ahead of Sino-US trade talks at the upcoming G20 Summit...
EURUSD Under Pressure After Weak PMI Data
The euro is back under selling pressure against the US dollar, after much weaker than expected PMI Manufacturing data from the German and French economies. Bearish momentum is now building with the EURUSD pair likely to drop further if the...
EUR/USD Depreciates To 1.1360
During Thursday’s trading session, the currency exchange pair was supported by the 55-hour SMA to end the trading session at the 1.1401 mark. During Friday morning hours, the currency exchange rate depreciated by 52 pips or 0.46% to trade at...
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