USDCAD Approaches The Lower Bollinger Band Near 1.25
USDCAD is falling after the pullback off the 1.2770 resistance level last week. The price is approaching the lower Bollinger band, while the 20-day simple moving average (SMA) is ready to cross the 40-day SMA to the downside. The MACD...
EUR/USD Outlook: Strong US Jobs Report Could Push Euro Significantly Lower
The Euro remains at the back foot but Thursday’s Doji and tight ranges in early Friday, signal hesitation, as bears face headwinds from cracked weekly cloud base (1.1538). Traders await US jobs report for stronger signals with likely scenario of...
GBP/USD Outlook: Renewed Rate Hike Hopes Keep Sterling Afloat
Cable edged higher on Thursday, following a limited pullback previous day, remaining inflated by improved global risk sentiment. The Bank of England said that the size and duration of a recent jump in inflation is greater than expected, driven by...
EUR/USD Elliott Wave Analysis: Searches for Support
We can see some choppy and slow price action on FX market ahead of Friday’s NFP report. EURUSD Ideally, there is going to be another and final drop in the next 24 hours and then possible reversal after NFP tomorrow....
AUDUSD Hovers Near The SMAs And Below 0.7300
AUDUSD has been moving sideways over the last couple of sessions, holding near the 20- and 40-day simple moving averages (SMAs) and the lower surface of the Ichimoku cloud. The MACD oscillator is advancing above its trigger line in the negative...
NZDUSD Gains Non-Existent Despite 25bps Rate Hike
NZDUSD appears to have failed to capitalise on the 25bps rate hike to 0.50% out of the Reserve Bank of New Zealand (RBNZ), which was delivered in the Asian trading session. The pair is dropping towards the 0.6875 level, that...
GBP/USD Outlook: Risk Aversion And UK Data Miss Push Sterling Lower After Four-Day Rally
Fresh risk aversion, combined with weaker than expected UK data, pushed sterling nearly 0.5% down in European trading on Wednesday. Strong rebound in past four days lost steam at initial barrier at 1.3641 (Aug 20 low) and ahead of 1.3662...
USD/CAD Fails To Break 1.2560 Level
On Tuesday, the US Dollar edged lower by 65 pips or 0.51% against the Canadian Dollar. The decline was stopped by the support level at 1.2560 during Tuesday’s trading session. Given that the exchange rate fails to break the support...
USD/JPY Bears Are Still In Control
The USD/JPY has reached the confluence zone and we might see a drop. The 111.20 zone has been hit and the price is hesitant to move further up. At this point we could see the move down which might become more potent...
EUR/USD Outlook: Bears Regain Traction After Minor Recovery But May Stay On Hold Until US NFP Data
The Euro returns to red on Tuesday after minor correction in past two days lost traction ahead of initial resistances at 1.1660 zone. The pair keeps negative tone but probes below pivotal 1.16 support zone, so far lacked strength to...