AUDUSD Hovers Near Falling Trend Line, Indicators Signal Bullish Retracement
AUDUSD has edged aggressively higher over the previous couple of weeks following the rebound on the 31-month low of 0.7084. The price reached the 0.7300 strong psychological level and hit the long-term descending trend line, which has been holding since...
Market Morning Briefing: Euro Yen Hasn’t Yet Been Able To Break Above 133.15
STOCKS Overall stocks are in a short term corrective mode and could dip a bit in the next few sessions before resuming the upmove. Dow (26492.21, -0.26%) closed slightly at lower levels. Overall there is support at 26250 which could...
Gold Edges Higher after Repeated Downside Rejection; FOMC in Focus
Spot Gold moved higher on Tuesday and probes above $1200 barrier, after the action in two previous days failed to clearly break below base of thick daily cloud ($1195). The yellow metal price holds within daily cloud for the third...
EURUSD Holds Near-Term Bullish Bias But Needs Close above 1.1780/1.1800 to Signal Continuation
The Euro stands at the front foot in early American session on Tuesday and probes again above cracked Fibo barrier at 1.1780 (38.2% of 1.2555/1.1300). Recent attempts higher registered thre consecutive failures to clearly break this barrier and bulls were...
Elliott Wave View: BAC Ready To Resume Higher?
BAC short-term Elliott wave view suggests that the rally to $31.49 low ended Minor wave X bounce. Down from there, the decline to $30.08 low ended Minor wave Y & also completed intermediate wave (2) pullback. The internals of Minor...
GBPUSD Finds Support Near 23.6% Fibonacci Erasing Some Losses
GBPUSD erased some of Friday’s significant losses yesterday and still remains above the 23.6% Fibonacci retracement level of the downleg from 1.4375 to 1.2660. The buying interest following the rebound on the 1.2660 support level has shifted the bearish outlook...
EURAUD Advances above 20-day SMA; Outlook Bullish
EURAUD recorded a stunning rally today, advancing above the 20-day simple moving average (SMA). The RSI is currently increasing positive momentum as it stands above its threshold of 50, hinting that the next move in prices could be on the...
EURUSD Outlook: Euro Bounces above 1.18 after Hawkish Draghi
The Euro retested 1.1800 barrier on fresh acceleration higher after hawkish remarks from ECB President Draghi. Bounce from session low at 1.1724, posted in early Europe, cracked Friday’s high at 1.1802 (the highest since 14 June) sidelining risk of deeper...
Market Morning Briefing: Aussie Has Come Off From Crucial Resistance Near 0.73
STOCKS Major stock indices have risen sharply breaking above the immediate resistances. While the rise sustains, the indices could rally in the near term. Overall stock indices look bullish. Dow (26743.50, +0.32%) has moved up and tests resistance on the...
EUR/USD Remains Supported Near 1.1700
Key Highlights The Euro made a nice upside move and traded above 1.1700 level against the US Dollar. There is a key bullish trend line in place with support near 1.1700 on the 4-hours chart of EUR/USD. The US Services...
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