USD/JPY Threatening Bullish Trend as Stocks Tank
The Japanese yen has been outperforming again of late because of the ongoing weakness in the stock markets, boosting the appeal of the perceived safe haven currency. Although the USD/JPY has until now held its own relatively well, other yen...
WTI Futures Create Downside Rally Towards Long-Term Ascending Trend Line
West Texas Intermediate oil futures plunged over the last sessions, moving towards the long-term ascending trend line in the 4-hour chart. Also, they hold below the 20- and 40- simple moving averages (SMAs), while the technical indicators are confirming the...
Gold Analysis: Jumps On Tuesday
Gold prices have surged on Tuesday morning and reached the upper trend line of a dominant ascending pattern near the 1,235.00 level. If the commodity price breaks the resistance of the trend line, the metal is set to surge at...
USDJPY Analysis: Might Reach 112.00
The US Dollar continued to plummet in value against the Japanese Yen on Tuesday. Namely, the rate had fallen down tot he 112.15 mark by the middle of the day. At that level a 50.00% Fibonacci retracement level was located...
USD/CAD Testing Bearish Channel Resistance Ahead of BOC Wednesday
The week has gotten off to a slow start in terms of impactful economic data, and the dearth of scheduled releases will carry over through tomorrow’s trade as well. That said, the latter half of the week should be more...
Elliott Wave Analysis: EURJPY In A Correction
EURJPY made a five-wave recovery within higher degree wave A), which looks to have found its top at the 130.19 level, from where a sharp drop occured. This drop can now be part of a hgiher degree corrective wave B),...
GBP/USD Trades Between PPs
The British pound appreciated 0.24% against the US Dollar since Friday’s session. During the previous session, the rate broke the monthly PP at 1.3038 and was resisted by the 55-hour SMA at 1.3060 to stop the trade at the 1.3054...
XAU/USD Trades At 1,226.00
The gold price appreciated 0.20% since Friday’s session. During the previous trading session, the yellow metal was supported by the 55-hour and the 100-hour SMAs to stop the trade at the 1,227.03. On Monday morning, the gold still supported by...
Temporary Consolidation on AUDJPY Points Lower – Elliott Wave Analysis
AUD JPY is slowly recovering within very choppy and overlapping price action, which means that we have to track it as a corrective rally, especially because of bearish looking stocks. What we see is a three-wave a-b-c corrective rise within...
EURUSD Outlook: Bounces on Profit-Taking Seen as Positioning ahead of Fresh Weakness
The Euro hit session high at 1.1494 in US trading on Friday, following bounce from key near-term support and target at 1.1432 (09 Sep spike low) which was touched earlier today. Pre-weekend profit-taking on strong two-day fall on Wed/Thu and...
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