EUR/USD Outlook: A Key Bearish Trend Line Is Forming With Resistance Near 1.1325
The Euro struggled to clear the 1.1350 resistance zone against the US Dollar. The EUR/USD pair is slowly moving lower and is trading below the 1.1320 level. There was also a break below the 1.1300 zone and a close below...
Two Trades To Watch: Gold, EUR/GBP
Gold moves cautiously higher ahead of US NFP Gold is moving higher, picking up from a 4 week low ahead of the US non-farm payroll. There are plenty of mixed headlines for gold traders to digest from the fears surrounding...
NZDUSD Consolidates Around the 0.6800 Mark, Bearish Tone Remains
NZDUSD is edging sideways across the 0.6800 mark as clear directional impetus has softened after the pair stretched to a near 13-month low of 0.6771. The diving 50- and 100-period simple moving averages (SMAs) are backing the bearish trajectory of...
AUD/USD Outlook: Aussie Cracks Key Supports on Omicron Concerns
Bears from 0.7555 (Oct 28/29 double-top) faced headwinds from key Fibo support at 0.7053 (38.2% of Mar 2020/Feb 2021 0.5509/0.8007 rally) with third consecutive probe through initial support at 0.7106 (Aug 20 former low) looking for an eventual close below...
EUR/USD Outlook: Conflicting Techs Keep The Euro In Directionless Mode, US Jobs Data In Focus
Near-term action remains in a sideways mode on conflicting technical signals and ahead of US jobs data, which could provide more evidence about Euro’s direction. Recovery attempts from new 2021 low that left a bear-trap under 1.1290 Fibo level, underpin...
GBPJPY Tests 20-Period SMA; Tries to Turn Bullish
GBPJPY rebounded off the 149.65 support level and tested the 20-period simple moving average (SMA) around the 151.00 psychological mark. The MACD oscillator is advancing above its trigger line in the negative region, while the RSI is flattening in the bearish territory, indicating...
Gold Battles With 200-Period SMA Below 1,800
Gold prices could not find enough buyers to overcome the 200-period simple moving average (SMA), with the spotlight remaining on the $1,800 mark. Encouragingly however, the RSI and the MACD continue to hold above their recent lows, while the latter...
UK 100 To Test Daily Support
The FTSE 100 struggles with doubts about vaccine efficacy against the omicron variant. A drop below the daily support at7190triggered a sharp liquidation. Then a short-lived rebound has met stiff selling pressure at 7170. The index is hovering above the origin...
US 500 Extends Decline From All-Time High As Bullish Forces Wane
The US 500 stock index (cash) keeps trending upwards in the long term picture, creating a profound structure of higher highs and higher lows. However, in the four-hour chart, the index has been giving up ground since its rally halted...
US Dollar Index: Weekly Shooting Star And Bull-Trap Generate Initial Reversal Signal
The dollar index is holding in red for the third straight day and extending pullback from new multi-month high at 96.92. Bears gained control after the news that new variant of coronavirus was detected last Friday, with narrower range on...