EUR/USD: Displays Possibilities of a Bullish Presence, but Must Breakout of Downward Trend
The chart below shows the pair EUR/USD to have formed a bullish pattern which is clearly indicated below in the form of a reverse head and shoulder pattern. The projection of this pattern gives reason to believe that it could...
NFP Preview: EUR/USD Is Bullish Above 1.1655
The EUR/USD has reached a significant resistance. There is a trend linealong with D H4/ W H3 confluence that holds the pair from proceedingfurther. However, a bounce above 1.1655 aims for 1.1683 and 1.1700.Ultimately the pair might reach 1.1750. However,...
USDJPY MACD Continues To Trend Lower
The US dollar remains under pressure against the Japanese yen currency, as traders await the release of Non-farm payrolls job report from the United States economy. The USDJPY pair has so far found support from the 110.40 level, with price...
GBPUSD Bearish Pattern Still Valid
The British pound is starting to consolidate around key resistance against the greenback, ahead of the release of the United States Non-farm payrolls job report. The bearish head and shoulders pattern remains valid at current levels, with a move above...
GBPJPY Holds In Narrow Range, Indicators Signal Bullish Bias
GBPJPY has been moving in a narrow range with an upper boundary the 144.20 resistance level and lower boundary the 142.60 support level, over the last week. Currently, the price is moving higher with the RSI confirming this movement as...
WTI Oil Outlook: Oil Price In Tight Consolidation After Strong Fall In Crude Stocks Reduced Bearish Pressure
WTI oil is consolidating on Friday after three days of strong losses when the price fell from $71.38 (04 Sep spike high / strong upside rejection) to $66.99 (two-week low). Turbulent situation in emerging markets and rising fears of escalation...
USD/JPY Breaks Down Below 110.80 Ahead of US NFP
Key Highlights The US Dollar struggled on two occasions to break the 111.80 resistance against the Japanese Yen. There was a double top pattern formed with resistance at 111.80-82 on the 4-hour chart of USD/JPY. The US ADP Employment Change...
S&P 500: Two Steps Forward, One Step Back
The weather isn’t the only thing taking a turn for the worse as summer winds to a close; the so-called FANG stocks (Facebook, Amazon, Netflix, and Google/Alphabet) that led the US stock market as a whole higher throughout the summer...
EURUSD Outlook: Euro Holds Slight Bid Tone But Remains Capped Under Thin Daily Cloud
The Euro remains constructive in early US trading but still lacking momentum for retest of Asian high at 1.1659 and attack at daily cloud, which provides strong headwinds despite being very thin. Today’s action was so far shaped in long-legged...
Silver Lining for Commodities Amid EM Sell-off
There’s a bit of calm in the markets today. Emerging market currencies on the whole have stopped falling, stocks are finding a bit of support and commodities are also firmer. Speculators are making a more sober assessment of the whole...
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