GBPJPY Tests Support Trendline; Bias Bearish
GBPJPY pulled back to test the support trendline at 161.00, which connects the lows from spring, after a failed attempt to pierce its 20- and 50-day simple moving averages (SMAs) around 164.00 on Thursday. From a technical perspective, sellers seem to...
USDCAD Holding Steady Ahead of Jobs Data
USDCAD shifted to the sidelines immediately after charting a new lower low at 1.2766 in the short-term picture, unable to reach the constraining 20-day simple moving average (SMA). The technical indicators state a bearish-to-neutral bias as the RSI keeps flattening...
EUR/USD Pair in a Fresh Upward Move above $1.0165
The Euro started a fresh upward move above the 1.0165 zone against the US Dollar. The EUR/USD pair climbed above the 1.0220 resistance to move into a short-term bullish zone. The pair climbed above the 1.0240 level and settled above...
USD/JPY Recovery Faces Hurdle, Oil Price Dives
Key Highlights USD/JPY started a recovery wave from the 130.40 zone. It is facing a major hurdle near 134.00 and 134.20 on the 4-hours chart. Crude oil price is gaining bearish momentum below the $92.50 support. The US nonfarm payrolls...
WTI Futures Break Below 200-Day SMA, Approaching Crucial Area
WTI oil futures (September delivery) have been losing ground since early June when the price failed to surpass the 121.00 mark. Although a further decline had been rejected multiple times by the 200-day simple moving average (SMA), the price managed to...
CADJPY Wave Analysis
CADJPY reversed from support level 102.00 Likely to rise to resistance level 105.00 CADJPY currency pair recently reversed up from the key support level 102.00 (former resistance from April, which stopped the earlier minor correction (a) in June). The support...
EURGBP Maintains Bearish Bias Despite Some Upside Pressures
EURGBP is recovering from three-month lows after yesterday sinking to 0.8339, suggesting that a new support base has been formed around 0.8340. This level is above the 78.6% Fibonacci retracement of the March-June uptrend at 0.8313 so it may provide...
Crude Oil Prices Continue to Be Under Pressure
The commodity sector remains rather tense on Monday; Brent is trading at $102.75. Global geopolitics is what investors are focused on right now. Any complications in this area muddy the water one way or another, and it’s bad news. Last...
US 30 Tests Major Resistance
The Dow Jones 30 rallies over expectations of slowing inflation. The index has found support in the former supply zone around 31700, which indicates the bulls’ strong commitment in extending the current recovery. As the index claws back last month’s...
EUR/USD Pair Started a Recovery Above $1.0180
The Euro started a fresh recovery wave above the 1.0150 zone against the US Dollar. The EUR/USD pair climbed above the 1.0180 resistance but it faced sellers. The pair faced sellers near the 1.0200 zone and is currently consolidating. However,...