EURUSD Remains Heavy as Rebound Curbed by 50-MA
EURUSD has been logging green candles after finding its footing around a three-month low of 1.1780 and is pushing up against the 50-period simple moving average (SMA) at 1.1856, which has dismissed previous bounces ever since it adopted a downwards...
USOil Sinks Towards Daily Support
Oil plunges as the OPEC+ deadlock over supply, fuels concerns for a price war. The RSI divergence already indicated a loss in the upward momentum. Price’s successive drop below 75.00, then 73.60, is the confirmation of a correction. Strong momentum...
EUR/USD Outlook: Bears Crack 1.1800 Support and May Accelerate on Hawkish Tone from Fed Minutes
The Euro cracked 1.1800 support as bears attempt to resume downtrend after Tuesday’s upside rejection and close below 1.1836 Fibo support (76.4% of 1.1704/1.2266 ascend) generated bearish signal. The single currency maintains negative tone on the fact that Fed is...
XAU/USD Outlook: Gold Extends Gains into Sixth Straight Day, Awaits Fed Minutes for Fresh Signals
Spot gold maintains a firm tone and is on course for a sixth straight day in green, as Tuesday’s upside rejection at pivotal Fibo barrier at $1813 (38.2% of $1916/$1750) failed to negatively impact bulls, which regained traction and pressure...
Elliott Wave View: Bitcoin (BTC) Looking For Further Downside
Short term Elliott Wave suggests the decline from May 20, 2021 high is unfolding as a diagonal. Down from May 20 high, wave 1 ended at 31107.46 and rally in wave 2 ended at 41341.57. The crypto currency declined again...
EUR/USD: Bears Regain Control after Limited Consolidation
Bears regained control after brief consolidation was capped by falling 10DMA and fresh weakness is on track for eventual close below cracked pivot at 1.1836 (Fibo 76.4% of 1.1704/1.2266 upleg). Disappointing German data added to euro’s weak sentiment, as investor...
WTI Futures Ease after Surging to 6½-Year Peak Near 77.0
WTI crude oil futures surged to its highest level since November 2014 around 77.00 before returning all of today’s gains. The steep rising trend line is holding well as the price has been continuing the aggressive buying interest since May 21 in the medium-term. Looking...
Market Morning Briefing: Dollar-Yen Has Dipped Below 111
STOCKS Global equities continue to trade mixed and seem to lack strength. However, Sensex and Nifty remain relatively stronger among them and could outperform if they break their immediate resistances. 53000 on Sensex and 15900 on Nifty are important levels...
US 500 Index at Fresh Top of 4,355; Upside Risks Look Sturdy
The US 500 stock index (Cash) is consolidating in the vicinity of the 4,350 level, after spiking to a new all-time high of 4,355, the former being the 150.0% Fibonacci extension of the down leg from 4,244 until 4,034. The...
USD/JPY Technical Analysis: Retreats Below 50-MA, Upside Risks Under Strain
USDJPY has lost its recent footing off the 50-period simple moving average (SMA), as buyers’ latest efforts have become curbed by the mid-Bollinger band at 111.18. Nonetheless, the advancing SMAs are defending the near-term uptrend that evolved from the April...
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