USDCHF Hits 2-Week Low; Remains Bullish in Medium Term
USDCHF extended Tuesday’s losses and is currently trading not far above a two-week low of 0.9952 hit earlier on Wednesday. The RSI turned lower after entering overbought territory above 70. At the moment, it continues to head lower in support...
Gold Looks Neutral in Near-Term; Develops in Sideways Channel
Gold is currently trading within a consolidation area over the last month, with upper boundary the 1239 resistance level and lower boundary the 1212 support barrier. At the end of the previous month, the price reached a new three-month peak...
EURUSD Sees Strong Rally With Eyes On 1.1549 Zone
EURUSD sees strong rally with eyes on the 1.1549 zone. This is a build up on its recent bullish recovery. Support lies at the 1.1450 level. A violation will aim at the 1.1400 level. A turn below here will target...
EURUSD Bulls Targeting 1.1500 Level
The euro has moved to a fresh monthly trading high against the greenback during the European trading session, as the US dollar index tumbles below the 96.00 level. EURUSD bulls are now targeting towards the 1.1500 level after a strong...
Elliott Wave Analysis: German DAX Trading at Resistance
German DAX is still unfolding a wave 4) correction which can be looking for resistance and a reversal around the 11700 area; that’s just above 38.2% Fib. level and close to a trendline connected from 12465 level. Also, recovery is...
EURUSD Posts Double Bottom Formation at 1.1300
EURUSD re-challenged the 14-month low of the 1.1300 strong psychological level in the previous week, creating a double bottom formation. The price rebounded on it, heading north towards the 50.0% Fibonacci retracement level of the upleg from 1.0340 to 1.2550,...
GBPUSD Edges Close To 1.3100 Level
The British pound has moved closer to 1.3100 resistance level against the US dollar during the European trading session, with price hitting 1.3084. Traders will now look for a clear break of the 1.3040 to 1.3084 price range for the...
USDJPY Testing Trendline Support
The US dollar is starting to correct lower against the Japanese yen, after being technically rejected from the 113.40 resistance level during the European trading session. The USDJPY pair is likely to become increasingly volatile ahead of the US mid-term...
Copper: Metal Pulls Back on Profit-Taking/News after 6% Advance Last Week
Copper was sharply lower on Monday as traders took profit after strong rally on last Thu/Fri, when the metal price rose over 6% on optimism over easing trading tensions between the US and China. Release of China’s Oct services PMI,...
USDTRY Outlook: Further Rise In Inflation Could Undermine Lira’s Bulls
The US dollar trades slightly higher against Turkish lira on Monday, as disappointing results of Turkey’s Oct inflation raise concerns. The lira advanced strongly after CBRT’s massive rate hike in September, gaining nearly 10% against its US counterpart, regaining confidence...
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