USD/JPY Reaches Key 88.6% Fibonacci Decision Zone
The USDJPY stayed in the bullish channel and broke above the resistance trend line (dotted orange) and the 78.6% Fibonacci retracement level for a continuation higher. The price is now approaching the next key decision zone, which is the 88.6%...
EUR/USD Bullish Breakout Above Critical 1.1730 Resistance Zone
The EUR/USD broke above the key resistance zone (dotted red) and is showing the start of bullish momentum. There could space available for a bullish continuation towards the 100%Fibonacci target at 1.1958, if price manages to stay above the broken...
GBP/JPY Clears Key Hurdles
Thanks to positive risk sentiment, consistent improvement in UK data and growing optimism over a Brexit deal, the GBP/JPY has risen about 900 pips from its low of just under 140 in mid-August. As a result of the rally, several...
UK 100 Index Turns Slightly Higher; Indicators Confirm Bullish Bias
The UK 100 index jumped above the 50.0% Fibonacci retracement level of the upleg from 6760 to 7905, around 7333, during Wednesday’s session. Currently, the price remains slightly above its opening level, however, the technical indicators are standing in the...
USDCAD – Sells Off, Eyes Further Weakness On Bear Pressure
USDCAD – The pair closed lower again following its Tuesday losses on Wednesday. This has cleared the way for more weakness. Support lies at the 1.2900 level where a break will aim at the 1.2850 level. Further down, support comes...
EUR/JPY Nonplussed By BOJ, On The Verge Of A Big Break Above 1.3200 Resistance
There was a central bank meeting today, but you’d be excused for not noticing. Overnight, the Bank of Japan made no changes to monetary policy and reiterated its vow to keep interest rates extremely low ‘for an extended period,’ as...
USDCHF: Extends Price Recovery With Risk Toward 0.9719
USDCHF: The pair remains biased upside on price recovery. This is coming on the back of its second day of strength. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more...
USDJPY Outlook: Bulls Show Strong Hesitation at 112.37 Fibo Barrier, Keeping in Play Risk of Top Formation
Wednesday’s action remains directionless for now and shaped in Doji candle, as bulls show hesitation after strong rally on Tuesday. Conflicting daily studies (overbought slow stochastic in sideways mode and strengthening momentum) provide no clear direction signal, as US action...
GBPUSD – Bullish, Sets Up To Push Higher Towards 1.3213 Region
GBPUSD – The pair continues to face further upside pressure as it looks to recover higher. Resistance stands at the 1.3200 with a turn above here allowing for more strength to build up towards the 1.3250 level. Further out, resistance...
Market Morning Briefing: Aussie Has Broken Above 0.72
STOCKS While Dow (26246.96, +0.71%) trades below 26250, there is scope of a fall towards 26000-25750 levels in the near term. A rise above 26250 and further above 26500 is necessary to trigger a sharp upmove in the longer run....
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