EUR/USD Trend Overwhelmingly Negative Below 1.1950
Key Highlights EUR/USD extended its decline below the 1.1850 support zone. A key bearish trend line is forming with resistance near 1.1900 on the 4-hours chart. The US nonfarm payrolls increased 850K in June 2021, up from 583K. The Euro...
NZDUSD Recovers a Tad but Bearish Pressures Weigh on the Pair
NZDUSD is improving above the red Tenkan-sen line at 0.6979 after a mixed US NFP payroll report was released. The simple moving averages (SMAs) and the Ichimoku lines continue to sponsor bearish demeanours; however, the negative slope of the 50-period...
US 30 Stock Index Challenges Short-Term Bearish Trajectory As Bulls Keep Pressing
The US 30 index (cash) has successfully returned above the dashed long-term restrictive line, but the upper boundary of a short-term bearish channel is currently threatening to keep the index in a downward trajectory at 34,682. A pullback, however, may...
EUR/USD Outlook: Euro Remains Under Strong Pressure And May Accelerate Lower
The Euro extends weakness into fifth straight day, hitting the lowest in nearly three months on Friday. Bears broke below key supports at 1.1747/36 (June 18/21 lows/Fibo 76.4% of 1.1704/1.2266 ascend) but need to register weekly close below to confirm...
EUR/USD Pair Is Now Correcting Losses From The 1.1840 Low
The Euro failed to remain stable above 1.1900 and started a fresh decline against the US Dollar. The EUR/USD pair broke the 1.1880 support zone to move into a bearish zone. It even settled below the 1.1860 support level and...
USDCAD Wrestles Upper Frontier Of 15½-Month Bearish Channel
USDCAD is labouring to break above and out of a descending channel, whose grasp on the pair has endured past a full year. The commanding simple moving averages (SMAs) are still shaping a predominantly bearish picture, making even more challenging...
Gold Analysis: Pierces Resistance Line
There are a number of important updates to note in regards to the price of Gold. First of all, the price has pierced the resistance line of the recent June high levels. Secondly, the price has revealed that it is...
USD/JPY Analysis: Finds Resistance At 111.65
The US Dollar has encountered resistance against the Japanese Yen in a zone from 111.63 to 111.66. On Friday morning, the rate bounced off this zone and declined to the 111.40 marks, which was supported by the weekly R1 simple...
USD/JPY Consolidating Before The NFP Report
The USD/JPY has formed a flat top ascending triangle. We should see a breakout to either side of the market. The breakout should happen either before or after the NFP. But the move will gain momentum after the NFP. Breakout...
WTI Outlook: Oil Price Surges to Multi-Month High on Demand Optimism, Increased Output
WTI oil price surged above $76 per barrel on Thursday, hitting the highest since October 2018, supported by growing prospects of strengthening global demand, falling US inventories and OPEC+ decision to start gradually adding about 2 million barrels per day...
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