EURUSD Awaiting Retail Sales
The euro currency is on the rise against the US dollar above the 1.2100 level after bulls were able to successfully defend critical trendline support, around the 1.2080 level. EURUSD traders are now awaiting US retail sales data, with a...
USDJPY Final Shoulder
The US dollar has pulled back from the 109.80 level against the Japanese yen currency as the greenback starts to give back Wednesday’s strong gains. The four-hour time frame shows that the latest move higher could have completed the structure...
JP 225 Index Sets Ground For An Upside Correction, Trend Signals Bearish
Japan’s 225 stock index (cash) faced another volatile session on Thursday, with the price diving to a four-month low of 27,131 before bouncing up to close near its opening level. The market action took the form of a doji candle...
Daily Tecnical Analysis
EUR/USD Current level – 1.2080 The resistance at around 1.2170 turned out to be a major obstacle for the bulls, and the sell-offs managed to breach through the local support at 1.2130. At the moment, the pullback move is limited...
GBP/USD Analysis: Fresh Bears Face Headwinds at 1.40 Support
Cable extended Wednesday’s 0.64% fall and fell ticks ahead of psychological 1.40 support on Thursday. Fresh risk aversion on upbeat US inflation figures that fueled a fall in global equities, weighs heavily on risk sensitive pound. Bids at 1.40 zone...
USD/JPY Outlook: Strong Bullish Bias Above Thick Daily Cloud
The dollar maintains firm tone vs yen on Thursday and consolidating above the top of thick daily cloud after 0.93% advance on Wednesday (the biggest one-day rally in 2021). Strong bullish acceleration after upbeat US CPI data signaled rising inflationary...
USD/CHF Shows Signs of Recovery, Oil Extends Rally
Key Highlights USD/CHF started an upside correction from the 0.8985 support zone. EUR/USD corrected lower below 1.2120, GBP/USD broke the 1.4100 support zone. Crude oil price remains elevated above the $65.00 level. The US Initial Jobless Claims could decline from...
AUD/USD Outlook: Extended Pullback Pressures The Top Of Thick Daily Cloud
The Australian dollar dipped below 0.7800 handles on Wednesday after weaker than expected China bank loans data, with increased pressure coming from falling Asian equities. Fresh weakness signals an extension of a pullback from 0.7890 (May 10 high), where larger...
Gold Is Ranging For Both Bulls And Bears
Gold is ranging which means that both bulls and bears could profit from intrada trades. 1766-1775 is the zone where longs are waiting. I don’t think there will be enough momentum to cover for strong moves to the zone, but...
Elliott Wave View: USDNOK Rally Should Find Sellers
Short Term Elliott Wave structure for USDNOK suggests the decline from March 24, 2021 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from March 24 high, wave (1) ended at 8.149 and bounce in wave (2)...
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