GBP/USD Buried In Bearish Territory
The pound continues to retreat after Britain’s growth fell short of expectations in Q3. A break below September’s low at 1.3420 has invalidated the latest rebound, putting buyers on the defensive once again. The RSI’s double bottom in the oversold...
US Dollar Index: The Dollar Hits New Multi-Month High in Extension of Post-US CPI Rally
The dollar remains firm against the basket of major world currencies and extends advance to a new 16-month high on Thursday, following a strong rally on Wednesday, sparked by higher than expected rise in consumer prices. The dollar index surged...
EUR/JPY: Drop Below M L3 Pivot Signals Bearish Continuation Move
EUR/JPY Technical Analysis Bearish momentum. We can see the stronger bearish pressure. Yen is getting stronger. The drop below M L3 signals continuation. Low point. Order block. Swing low. Swing high. Gravestone Doji variant 2. The price is bearish. The...
XAU/USD Outlook: Gold Is Set For Further Advance But Possibility
Spot gold extends advance into the sixth straight day on Thursday and pressuring new 5-month high ($1868), posted on Wednesday when metal’s price spiked after higher than expected us inflation data in October. Rising consumer prices boost demand for gold...
EURJPY Selloff Could Have More Legs; Neutral in Medium-Term
EURJPY has erased half of October’s rally, which peaked at a four-month high of 133.47, with the 50- and 200-day simple moving averages (SMAs) recently coming into the rescue to impede the sell-off around 130.50. The technical status, however, is...
EURJPY Selloff Could Have More Legs; Neutral in Medium-Term
EURJPY has erased half of October’s rally, which peaked at a four-month high of 133.47, with the 50- and 200-day simple moving averages (SMAs) recently coming into the rescue to impede the sell-off around 130.50. The technical status, however, is...
EUR/USD Elliott Wave Analysis: Be Aware of Reversal
EURUSD came below 1.1524 last week after a corrective B) wave rises to the channel resistance line. We expected that drop into C) which can be now the final stages of wave 5 that belongs to a higher degree ending...
AUD/USD At Risk Of Breakdown Below 0.7350
Key Highlights AUD/USD started a fresh decline from well above 0.7500. It traded below a key bullish trend line at 0.7520 on the 4-hours chart. EUR/USD is struggling to clear the 1.1600-1.1620 resistance zone. The US CPI could increase 5.3%...
USDCHF Crossed Below Its 50- and 200-Day SMA; Bearish Outlook
USDCHF regained its negative momentum as the pair crossed below its 50- and 200-day simple moving average (SMA) in the past couple of sessions. This diminished hopes of a sustained bullish move after a brief period of price appreciation when...
NZDJPY Falters Near 4-Year Highs
NZDJPY has been trending upwards since the beginning of 2021 but seems to be lacking the necessary momentum to challenge its 4-year highs. After peaking at 82.49, the pair has been moving without a clear direction, while the immediate bias...