Market Morning Briefing: EURJPY Is Holding Above Support At 131.50
STOCKS Dow and Dax have risen well and could head towards 36100 and 15900 where some profit taking can be seen before resuming the overall uptrend. Nikkei is bullish towards 30000/31000 before reversing from there. Shanghai is stuck within 3500-3600...
Gold is Too Much Affected By USD
The Gold price is barely moving although the short-term market situation is not in favour of the precious metal. On Monday, 1 November 2021, the troy ounce costs $1,788. Gold has been rather volatile recently and definitely shows an inverse...
GBP/USD Outlook: Close Below Key Fibo To Confirm Bearish Signal And Risk Deeper Fall
British pound remains firmly in red on Monday and dips to the lowest in nearly three weeks, in extension of Friday’s 0.8% fall (the biggest one-day drop since Sep 29). Negative weekly close formed reversal pattern on weekly chart, following...
EUR/USD Could Extend Losses Below 1.1500
Key Highlights EUR/USD failed to settle above the 1.1650 and 1.1665 resistance levels. It broke a major rising channel with support near 1.1595 on the 4-hours chart. GBP/USD is moving lower and struggling to stay above 1.3650. The US ISM...
WTI Oil Futures Avoid Bearish Breakout; Negative Risks Still in Play
WTI oil futures (December delivery) charted a new lower low at 80.62 in the four-hour chart on Thursday but the tough ascending trendline, which has been strictly supporting the market since the bullish trend reversal in August came to the...
EUR/USD Retreats After Jump
The EUR/USD ended trading sideways in the range between the 1.1585/1.1590 and 1.1618/1.1625 zones. The rate ended it due to the release of the worse than forecast US Advance GDP data. The GDP caused a 110 pip jump up to...
GBP/USD Reaches Above 1.3800
The worse than forecast US Advance GDP data on Thursday caused a surge of the GBP/USD currency exchange rate. Due to the surge, the rate reached 1.3815, as it surged 85 pips. In the aftermath of the jump of the...
USD/JPY Remains Above 113.40
Despite piercing the support of the 113.40 level on Thursday, the USD/JPY did not extend the decline. Instead, the pair found support at 113.25 and recovered. At mid-day on Friday, the rate had retraced to the 100-hour simple moving average...
GOLD Respects Resistance Of 1,810.00 Level
On Thursday, volatility was caused by the release of the US Advance GDP. During the volatility, the price for gold once again confirmed the 1,810.00 level as a resistance level. The following decline passed the 55 and 100-hour simple moving...
EUR/USD Outlook: Euro Loses Traction After Strong Post-ECB Rally, But Bulls Are Still In Play
The Euro eases from new one-month high, posted after Thursday’s post-ECB 0.7% advance (the biggest one-day rally since May 5). Traders reacted on ECB Lagarde’s less dovish than expected speech , while US GDP data miss added to positive sentiment....