GBP/USD: Bears May Pause at 2022 Low on Oversold Conditions
Cable is trading near new multi-month low (1.1717) posted today, keeping firm bearish stance, additionally boosted by terrible UK manufacturing PMI data for August that add to fears the economy is sliding into recession. Bears probed below 2022 low (1.1760)...
Is GBPCAD Headed for the 2010 Low?
GBPCAD has been drifting south since August 2, when it hit resistance near 1.5760. That said, it has yet to clearly overcome the key support of 1.5350, a move which would not only confirm a forthcoming lower low, but also...
GBP/USD: Bears Accelerate Towards 2022 Low, On Track for the Biggest Weekly Fall in Nearly Two Years
Cable extends sharp fall after eventual break of pivotal 1.20 support, pressured by growing concerns about inflation-growth puzzle which boosts fears that the economy is heading into recession and fresh hawkish comments from Fed policymakers. Soured sentiment adds to bearish...
Dollar Returns to Growth after a Summer Respite
The US dollar has quite expectedly accelerated its rise. EURUSD is trading less than 50 pips from parity, which it managed to defend in mid-July, having retreated from 20-year lows. GBPUSD has also quickly returned to July lows, losing more...
EUR/USD Started a Fresh Decline from $1.0180
The Euro started a fresh decline from well above the 1.0180 level against the US Dollar. The EUR/USD pair traded below the 1.0150 support zone to move into a bearish zone. There was a move below a connecting bullish trend...
EURAUD Hovers Near a Key Support Zone
EURAUD came under selling interest yesterday, after hitting resistance at the 200 – period exponential moving average (EMA), fractionally above the 1.4705 barrier, and slightly below the downside line drawn from the July 11 high. Although this keeps the prevailing...
USDCHF Needs Boost from Buyers to Switch the Outlook to Bullish
USDCHF is in the process to post the fifth straight day of gains, following the pullback off the 0.9367 support level. The pair jumped above the 200-day simple moving average (SMA) again and is trying to have a closing day...
XAU/USD: Impulse Structure Hints at Higher Levels
The internal XAUUSD structure suggests a global correction pattern, which takes the form of a cycle triple zigzag. On the current chart, we see the structure of the bearish cycle intervening wave x, which looks completed in the form of...
USD/JPY Regains Momentum, Eyes More Upsides
Key Highlights USD/JPY started a fresh increase above the 134.00 resistance. It cleared a major bearish trend line at 134.10 on the 4-hours chart. EUR/USD is struggling below the 1.0200 resistance zone. GBP/USD extended decline and spiked below the 1.2020...
EURGBP Stays Stuck Between Two Diagonal Trendlines
EURGBP traded higher yesterday, after hitting support at the crossroads of the 0.8385 level and the tentative upside line drawn from the low of low of March 7. Nonetheless, the advance remained limited near the conversion point of all the...