AUDUSD – Backs Off Lower Prices, Sets Up For More Strength
AUDUSD – The pair backed off lower prices to close higher on Wednesday. Support resides at the 0.7150 level where a breach will aim at the 0.7100 level. Below that level will set the stage for a run at the...
Bitcoin, Ether Blasted Goldman Postpones Plans For Crypto Trade Desk
After showing signs of stabilizing over the past couple of weeks, cryptoassets are seeing sharp selloffs in today’s trade. The proximate catalyst for today’s big drop is a report that Goldman Sachs is pulling back on its plans to set...
US 500 Index Near-Term Momentum Turns South; Still Bullish in the Medium-Term
The US 500 index has declined after touching an all-time high of 2,916.50 on August 29. Still, the benchmark continues to trade relatively close to its record peak. The RSI has reversed lower after entering overbought territory last week and...
GBPUSD Outlook: Sterling Surges on Bews about UK/Germany Brexit Deal
Sterling surged across the board on Wednesday after report that British and German governments have abandoned key Brexit demands, in attempts to open way for Britain to easier reach the deal with the European Union. Surprise decision strongly boosted pound...
USD/CHF Recovery Could Be Capped Near 0.9780
Key Highlights The US Dollar found support near 0.9650 and recovered against the Swiss Franc. There is a key bearish trend line in place with resistance at 0.9775 on the 4-hour chart of USD/CHF. The Swiss Consumer Price Index remained...
USD/CAD’s Big Breakout Has Bulls Eyeing June’s Peak
US traders have returned from a long holiday weekend to the see the greenback gaining across the board (see my colleague Fawad Razaqzada’s post, “Dollar rises to resistance ahead of key US data” for more). The first of this week’s...
USDCAD Outlook: Rallies Through Series of Significant Barriers
The pair accelerated higher on Tuesday, extending strong recovery rally from 1.2887 (28 Aug low) into fourth straight day. Fresh bulls, boosted by rising fears about escalation of US/China trade tensions, broke above significant barriers at 1.3107/12 (bear-channel upper boundary/55SMA);...
EURNZD challenges 3-year high; looks overbought
EURNZD has been outperforming over the last couple weeks, after the rebound on 20- and 40-simple moving averages (SMAs) in the daily timeframe. The price reached a fresh almost three-year high of 1.7673, during today’s trading session with strong momentum....
GBP/USD Turns South, Could Test 1.2800 Support
Key Highlights The British Pound faced a strong resistance near 1.3050 and declined against the US Dollar. There was a break below a major ascending channel with support at 1.2930 on the 4-hour chart of GBP/USD. The UK Manufacturing PMI...
Dollar Index Dominates- British Pound Faces More Selling Pressure
Brexit deadlock and the strength of the dollar index is keeping the pressure on the sterling-dollar pair. In the currency market, the dollar index is on the surge again and it traded mostly near enough to its one week high...
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