AUDUSD Outlook: Bears Look For Extension Towards Key Support At 0.7202
The Australian dollar extends weakness on Friday, holding firmly in red for the fourth consecutive day and on track for strong bearish weekly close. Extension of Thursday’s strong bearish acceleration was partially limited by better than expected China’s PMI data...
NZD/JPY 4H Chart: Sets For Breakout
The New Zealand Dollar has been trading in two different channels against the Japanese Yen. The most important of the pattern is the junior ascending channel pattern which is currently guiding the price higher. However, after hitting the upper boundary...
GBP/JPY 4H Chart: Sets For Bullish Momentum
The Pound Sterling has been trading in a junior descending channel against the Japanese Yen. The currency pair reversed from the upper boundary of the pattern on July 13 and had since remained inside the channel. During the past two...
EURUSD Analysis: Reveals Descending Pattern
The European Single Currency appreciated 0.25% against the US Dollar during morning hours. The currency pair bounced off the bottom of a new trend line and retraced back to the monthly pivot point near the 1.1690 level to remain relatively...
Crude Oil: Sees Further Upside, Eyes The 70.41 Region
CRUDE OIL – The commodity faces further recovery threats following its higher close on Wednesday. On the downside, support resides at the 69.50 level where a break will expose the 69.00 level. A cut through here will set the stage...
Turkish Lira| Increasing Bearish Momentum
The chart below on a daily time-frame shows the pair USD/CAD trading in a down trend. In addition, it shows that the pair over the past month had begun to gradually decrease and as of now this movement is in...
GBPUSD Testing 1.3000 Support Level
The British pound is testing the 1.3000 support level against the US dollar, after finding strong technical resistance from the 1.3040 level during the European trading session. Despite the pullback price, the GBPUSD pair remains bullish while trading above the...
EURUSD Watching Bearish Pattern
The euro currency is starting to trade lower against the US dollar after once again being sold sharply from the 1.1700 level this morning. The recent rejection from the 1.1700 level has created a bearish head and shoulders pattern across...
USDCHF – Bearish, Risk Continues To Point Lower
USDCHF – The pair continues to face downside pressure closing further lower on Wednesday. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.9600 level and then...
GBP/USD Hits 3-Week Highs On Bullish Brexit Chatter
Last week, we highlighted some encouraging signs from the joint UK-EU press conference, noting that “The EU’s willingness to extend the previous deadline suggests that a mutually acceptable deal may be near, though the Northern Ireland border remains a difficult...
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