USDCAD Retraces To 1.23 Level Before Foothold Takes Shape
USDCAD is consolidating across the 1.2300 handle after the price slipped back below the Ichimoku cloud and the simple moving averages (SMAs) over a period of one-month. The bullish bearing of the 50- and 100-day SMAs has softened, as has...
GBPJPY Turns Neutral Below 5-Year High, Trend Signals In Focus
GBPJPY shifted to the sidelines after its two-week straight-line rally faltered near a five-year high of 158.20. The rapid progress in the market has reactivated the 2020 uptrend, helping the 50-day simple moving average (SMA) to change course above the...
EUR/USD May Test 1.1600-1.1570 Support Before Resuming Uptrend
EURUSD is coming higher very nicely back towards 1.1663, the former lows, after a bottom formation at 1.1520/25 area that we recognized because of a five-wave drop and break out of a downward channel. There was also a bullish divergence...
AUDJPY Rockets to 44½-Month High Before Negative Forces Surface
AUDJPY has been tracing the upper Bollinger band for two weeks now, reaching a more than 3½-year high of 86.24, as the pair aims for the 86.72 barrier. The price rally, which extended above the simple moving averages (SMAs) and...
USD/CAD Decline To Continue
The US Dollar declined by 56 pips or 0.45% against the Canadian Dollar on Wednesday. The currency pair was pressured lower by the 50– hour simple moving average during yesterday’s trading session. Everything being equal, the USD/CAD exchange rate could...
EURCHF’s Upside Looks Bleak as Seller’s Lead
EURCHF has plunged back below the simple moving averages (SMAs) after positive price action was halted around the 1.0763-1.0771 resistance band. The bearish bearing of the SMAs is backing the pair’s negative trajectory. The short-term oscillators are also signalling that...
EUR/USD Bounces Off 1.1670
On Tuesday, the EUR/USD failed to surge, as the 1.1670 appeared to have provided the rate with resistance, which caused a decline. By the middle of Wednesday’s trading, the pair had reached the last week’s high level zone, which provided...
US 30 Recovers To Previous Peak
The Dow Jones rallies as investors look past macro concerns and focus on earnings instead. The break above the supply zone around 35000 has prompted the bears to cover. The index then went on to recoup most losses from the...
US 500 Index Returns to Gains; More Bullish Outlook is Expected
The US 500 (Cash) index has strongly rebounded off the 4,270 barrier and the momentum indicators now suggest that the market sentiment is back to bullish as the MACD is entering the positive region, holding above its trigger line. Also, the RSI...
EUR/GBP Decline Could Continue
The Eurozone single currency has edged lower by 2.18% against the British Pound since the beginning of October. The currency pair breached the 0.8500 support level last week. All things being equal, the exchange rate could continue to trend lower...