USD/JPY Sets New 24-Year High Above 140, US NFP Next
Key Highlights USD/JPY gained pace and rallied to a new 24-year high above 140.00. A major bullish trend line is forming with support near 138.40 on the 4-hours chart. GBP/USD tumbled below 1.1550, and gold price dropped below $1,700. The...
AUDUSD Edges Higher Within Symmetrical Triangle; Neutral in Medium-Term
AUDUSD is finding strong support near the short-term ascending trend line and the 0.6855 barrier, after it spiked towards a new six-week low at 0.6840. The RSI indicator is gaining some momentum, mirroring the market’s bullish behavior over the past...
GBPUSD Corrects Higher, But Stays in a Downtrend
GBPUSD traded higher on Friday, after hitting support at 1.1770. The pair has been printing higher lows since August 23, but it is still trading below the downtrend line drawn from the high of August 10, as well as below...
EUR/USD Pair is Consolidating Losses Near the Parity Level
The Euro settled below the key parity level against the US Dollar. The EUR/USD pair is consolidating losses and flirting with the parity level. The pair is currently trading near the 0.9970 level and the 50 hourly simple moving average....
GBPJPY Trades Lower Within Descending Triangle
GBPJPY is heading south, and it has been holding within a descending triangle pattern since June 9. Currently, the price is moving beneath the short-term simple moving averages (SMAs) and is approaching the 160.00 psychological mark, which is the lower...
USDCAD Stuck Below 1.3026 for Another Week
USDCAD could not find enough buyers to sustain Monday’s bullish extension above the flattening 200-weekly simple moving average (SMA) at 1.3026, with the price gearing down to meet support near its 20- and 50-day SMAs at 1.2894 on Thursday. Recall that the...
USD Still Bullish ahead of Jackson Hole
The markets are slow with stocks stabilized a bit ahead of the Jackson Hole event. The USD bulls also slowed down for a pullback, but technically and fundamentally we do not expect any changes till we get full details and...
ETHUSD Aims for Recovery as 50-day SMA Caps Decline
ETHUSD (Ethereum) has been experiencing a downside correction after its short-term uptrend failed to cross above the 2,030 region. However, the cryptocurrency found strong support at its 50-day simple moving average (SMA) and is currently attempting to rebound. The momentum...
European and US PMIs weaker; EUR/USD remains near parity
With the Jackson Hole Symposium this Thursday and Friday and the Fed stating that it is “data dependent”, the US data matters more at this point. PMIs out of Europe and the US are causing EUR/USD to remain near parity...