EUR/USD Recovers, But Key Resistance Intact
Key Highlights EUR/USD traded as low as 1.1781 before starting an upside correction. It traded above a major bearish trend line with resistance near 1.1840 on the 4-hours chart. GBP/USD climbed higher nicely above 1.3850, but it could struggle near...
GBP/USD Outlook: Bulls Regain Traction But More Evidence Needed to Signal Reversal
Cable regained traction on Friday after negative tone prevailed during this week, with three-day drop ending with a hammer candle that generated initial bullish signal. Fresh advance nearly fully reversed losses of this week but needs lift above pivotal barriers...
GBPJPY Dips Below 151 but 23.6% Fibo Keeps Things Positive
GBPJPY is not out of the woods just yet, in spite of finding some footing around the 150.96 level, that being the 23.6% Fibonacci retracement of the up leg from 134.39 until 156.06. Although downside forces have abated at 150.65,...
EUR/USD Started A Fresh Increase From 1.1780
The Euro found support near the 1.1780 zone after a steady decline against the US Dollar. The EUR/USD pair formed a base above 1.1780 and it started a fresh increase. It surpassed the 1.1800 resistance level and the 50 hourly...
USDCAD Fortifies Short-Term Bullish Structure
USDCAD charted a new higher high at 1.2589 on Thursday, signaling that the trendline cracked in June could be something more than temporary. The bullish cross between the 20- and 50-day simple moving averages (SMAs) is endorsing the above narrative...
GBPJPY Could Fall Further
The British pound currency is attempting to recover higher against the Japanese yen after finding support around the 150.65 technical area. The four-hour time frame shows that the GBPJPY pair is trapped inside a large descending broadening wedge pattern. The...
BTCUSD $33,000 Pivot
Bitcoin is struggling to make upside traction as the broader cryptocurrency market still remains entrenched in a bear market. The four-hour time frame shows that the $33,000 level is the neckline of a bearish head and shoulders pattern and is...
Two Trades To Watch: FTSE, EUR/GBP
FTSE rebounds although GDP disappoints European indices are expected to open higher after steep declines in the previous session. Concerns over the health of the global recovery, rising Delta cases, the Fed moving towards tapering and weaker commodity prices dragged...
EUR/USD Breakout Could Occur
Upside risks dominated the EUR/USD currency pair on Thursday. As a result, the common European currency rose by 77 pips or 0.65% against the US Dollar during Thursday’s trading session. The exchange rate is currently trading near the upper boundary...
The One Variable that Explains this Week’s Big Market Moves…and What It Means for CAD/JPY
Over the last several months, many markets have become one-way trades, attracting trend-following speculators and leading to excessive positioning in several of the planet’s most-traded assets. For a generally quiet post-holiday, pre-earnings week, we’ve certainly seen some big market moves...
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