GBP/USD Outlook: Bears Accelerate On Dovish Comments From BoE’s Governor Bailey
Cable continues to travel south for the sixth straight day and hit 11-week low on Thursday after dovish tone from BoE Governor Bailey’s speech accelerated bears. Fresh weakness broke through pivotal support at 1.3786 (June 21 low) completing failure swing...
Two Trades To Watch: Oil, EUR/USD
WTI crude oil look to OPEC decision Economies reopening has boosted fuel demand amid limited supply sending oil prices soaring. Oil has rallied over 10% across June alone. The price of oil is nudging higher ahead of the OPEC meeting,...
AUD/USD: New Virus Spread and Soured Risk Sentiment Keep Aussie Dollar Under Increased Pressure
The Australian dollar remains in red and hit new lowest in over one week on Thursday, following Wednesday’s 0.74% drop. Spread of new coronavirus Delta variant triggered fresh restrictions across Australia that further soured risk sentiment, adding to negative tone....
EUR/GBP Outlook: Bulls Continue to Struggle at Daily Cloud Base/Bear-Channel Upper Boundary
Near-term action remains limited by daily cloud (spanned between 0.8595 and 0.8633) for the fourth consecutive day, as repeated penetrations into the cloud were so far short-lived. Upside was additionally limited by the upper trendline of bearish channel from 0.8671...
BTCUSD Now Bullish
Bitcoin has moved above its technically important 200-period moving average on the four-hour time frame, around the $36,000 level. If BTCUSD bulls can keep up the upside attack then further gains towards the $40,000 resistance level remains possible this week....
WTI Futures Plunges Beneath Ascending Line Near 72.00
WTI crude oil futures are falling further, continuing the selling interest from the 32-month high of 74.43. The RSI is now trending south in the negative zone, while the MACD is losing ground below its trigger and zero lines. A...
GBPUSD Advances Muted By 100-SMA And Ichimoku Coud
GBPUSD is edging lower underneath its red Tenkan-sen line around 1.3895 after its latest bounce around the 1.3800 handle was curbed by the 100-day simple moving average (SMA) and the cloud’s lower surface. The SMAs are maintaining a bullish bearing, signalling...
Market Morning Briefing: Dollar-Yen Continues To Fall
STOCKS Equities seem to be lacking strength to move up strongly. Dow has come down and needs to sustain above 34000 to move up and test 34700-35000. DAX hovers around 15600 and needs to break 15800 to move higher and...
GBPUSD: Cable Lacks Direction on Monday but Thick Daily Cloud Weighs
Monday’s Doji candle signals directionless near-term action after last week’s recovery was capped by psychological 1.40 barrier and subsequent weakness found footstep at 1.3868 (Fibo 61.8% of 1.3786/1.4001 upleg). Rising and thickening daily cloud above the price maintains strong pressure...
USD/JPY Outlook: Bulls Regain Traction after Shallow Oullback, US Jobs Data Eyed for Fresh Signals
The dollar regained traction on Monday after a two-day pullback from a new three-month high (111.11) found strong bids at 110.50 (rising 10DMA) zone, with Friday’s long-tailed candle pointing to downside rejection. Bullish daily studies suggest that bulls may probe...
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