EUR/USD Starts Fresh Slide, Dollar Turns Green
Key Highlights EUR/USD started a major decline after it broke the 1.2000 support. It traded below major supports near 1.2050 and 1.1950 on the 4-hours chart. GBP/USD also declined heavily below the 1.4000 support. Gold price traded below the $1,840...
Hawkish Bullard Sends US Dollar Higher
Just when you thought the Fed was not as hawkish as first thought, enter James Bullard. He is President of the Federal Reserve Bank of St Louis, as well as a member of the FOMC committee. Yesterday, the back end...
EURUSD at Two-Month Low on Central Bank Divergence
EUR/USD trades at its lowest level in two months on a post Fed hangover and on news that the Fed also started taper talk – highlighting the growing gap between the Fed and the ECB. EUR/USD is extending losses for...
XAU/USD Outlook: Gold is on Track for the Biggest Weekly Drop in 15 Months
Bears are taking a breather on Friday after strong bearish acceleration in past two days started to run out of steam and found a footstep at key Fibo support at $1768 (61.8% of $1677/$1916 rally) and just above the base...
EUR/USD Pair Is Now Correcting Losses From The 1.1891 Low
The Euro failed to settle above 1.2150 and started a fresh decline against the US Dollar. The EUR/USD pair broke the 1.2050 support zone to move into a bearish zone. It even settled below the 1.2000 support level and the...
NZDUSD Reverses Up After Steep Slide
NZDUSD is reversing quickly to the upside after the sharp plummet towards a fresh two-and-a-half-month low of 0.6960 earlier today. The RSI is flattening in the oversold territory; however, the stochastic is ticking higher after the drop into the negative...
GBPUSD Seeks Out An Edge To Break Its Fall
GBPUSD continues to freefall from the 1.4100 area and far below the 200-period simple moving average (SMA), as the after-effects of Wednesday’s hawkish FOMC meeting seem to be lingering. The rolling 50- and 100-period SMAs are reinforcing the drop in...
USDCAD Marks Best Week For 2021, Rally Slows Near Familiar Resistance
USDCAD had its most constructive week since March 2020, rallying by 1.7% to a seven-week high of 1.2382. The bull run has snapped the one-month-old trading range and sent the price above its 20- and 50-day simple moving averages (SMAs),...
CADJPY Is Bearish
Technical analysis The price is beneath MA(50) The wide-open Bollinger Bands predict high volatility and point to a downtrend The RSI is below 50, also indicating a downtrend. What the possible outcomes are CADJPY fell to 89.033. The pair is...
Gold Crashes Below $1800: What a Difference a Week Makes!
Oh how quickly things can change! This time last week, gold bulls were riding high, with the yellow metal trading near a 5-month high after a couple-month run outperforming other safe haven and store of value assets…until the script flipped...
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