EUR/USD Faces Uphill Task Near 1.2000
Key Highlights EUR/USD declined below the key 1.2000 and 1.1950 support levels. A major bearish trend line is forming with resistance near 1.2100 on the 4-hours chart. GBP/USD failed to recover above 1.4000 and started a fresh decline. Gold price...
EUR/USD Is At The Verge Of Breaking Out
The EUR/USD is showing bullish structures. We should see a breakout. We can spot the SHS pattern which is at the support level. Another consolidation is happening right now. We can see the triangle and the price close to the...
Gold Testing 61.8% Fibonacci Support After Bearish ABC
The XAU/USD chart was unable to break above the resistance trend line (orange) and is now testing the support trend line (green). Price action seems to be building 3 corrective waves down after 5 impulsive waves up. Now an ABC...
AUD/USD Outlook: AUD/USD Hits One-Week High On Fresh Risk Appetite
The Australian dollar rose to one-week high (0.7602) on Friday, lifted by fresh risk appetite as initial enthusiasm on hawkish Fed started o fade, as US policymakers remain split on risk view over surging inflation and large jobs deficit. Traders...
GBPJPY Eases From 155 Mark But Upside Risks Remain Intact
GBPJPY’s latest rally off the 100-day simple moving average (SMA) has failed to decisively close above the 155.00 handle, an area where the recent bearish price correction was previously initiated. This fresh price bounce at 151.30 is validating that the...
GBP/USD Outlook: Sterling Remains In Red After Dovish BoE
Cable remains in red for the second day, as dovish BoE faded hopes that the central bank would send initial signals of earlier than expected start of policy tightening due to surging inflation. Reversal pattern is forming on daily chart...
XAG/USD Hovers Above Daily Support
Silver takes a breather, as the US dollar softens across the board. Price action is looking to gain a foothold above 25.70, which is an important support from the daily timeframe. The consolidation is a sign of indecision after a strong...
SPX 500 Breaks Above Peak
The S&P 500 has recouped all losses after the Fed Chairman played down inflation pressures. There is no lack of V-shaped recoveries in recent market conditions as volatility goes wild. Even though it is choppy, the directional bias remains upward,...
GBP/USD Retreats For Support
The sterling retreated after a dovish BOE kept its policy unchanged, despite higher inflation. The pair has bounced off the key support at 1.3800 on the daily chart. The break above 1.3900 suggests the short side may have unwound their...
USDCHF is Back in Red after Surpassing 20-SMA
USDCHF has reversed back up again after finding support at the 0.9153 barrier, surpassing the 20-period simple moving average (SMA) in the 4-hour chart. However, the price is currently posting a red session. Momentum indicators are pointing to a neutral...
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