US 100 Index Slides, But Uptrend Still in Play
The US 100 index (Cash) took some fire in recent sessions, sliding from the record high of 15,182 before encountering some support near the 50-day moving average (MA) currently at 14,720 and subsequently rebounding a little. The decline in the...
AUDUSD Tumbles To New 9-Month Low
AUDUSD has reached a new nine-month low of 0.7174, which holds beneath the significant 200-week simple moving average (SMA). The negative structure in the price is confirmed by the technical indicators. The MACD oscillator decreased beneath its trigger line in...
GBP/USD Potential Inverse Head and Shoulder Target 1.55
In the last Bank of England’s meeting, the central gave a signal for a potential interest rate hike in 2022. This would put it ahead of a number of other G10 central banks, including RBA, U.S Fed, BOJ, and ECB....
EURJPY Testing Critical Support, Neutral Outlook Under Threat
EURJPY is testing its March low of 128.28, slipping just below it on Tuesday and earlier today. The pair has now retraced the entire upleg between March and June, and although the long-term uptrend that’s been in progress since May...
Elliott Wave View: Oil (CL) Has Scope To Extend Lower
Short-term Elliott wave view in Oil (CL) suggests that cycle from July 6 peak is unfolding as a double three Elliott Wave structure. Down from July 6 high, wave (W) ended at 65.01 and rally to 74.30 ended wave (X)....
EUR/USD Elliott Wave Analysis: Approaches Support
EURUSD is coming slightly down, now approaching the trendline support which may open door for 1.17 if line is broken. As per Elliott Wave analysis, EURUSD is sliding down into wave 5 which has touched March low but there is...
UK 100 Bounces Off Support
Commodity stocks dragged down the FTSE 100 index after weak economic data from China. The rise above June’s peak at 7215 was a sign of commitment from the long side. However, a pullback is necessary to keep the rally sustainable....
GBP/USD: Why 1.3800 Holds The Key In Near Term
Key Highlights GBP/USD is struggling to climb above the 1.3900 resistance zone. A key declining channel is forming with resistance near 1.3885 on the 4-hours chart. EUR/USD failed to clear the main 1.1800 resistance zone. The UK ILO Unemployment rate...
British Pound Slowly Plunging
Early in another August week, the British Pound is slowly falling against the USD. GBPUSD remains under pressure within the mid-term downtrend and is mostly trading at 1.3847. The GDP statistics for the second quarter of 2021 published by the...
XAUUSD Is Possibly Bullish
Technical analysis The price lies in between the EMA(50) and the EMA (100), closer to the latter The MACD indicator line is above 0, pointing down The RSI is above 50. What the possible outcomes are The U.S. dollar edged...