Technical analysis of Forex market

Elliott Wave View: Nikkei Rally Likely Fails For Further Downside

Elliott Wave view is calling an end to Nikkei’s rally from December 26, 2018 low with wave X at 21884. The Index should resume the move lower and should eventually ...
Read More

GBP/USD Approaching Crucial Resistance Near 1.3300

Key Highlights The British Pound recovered nicely after trading towards the 1.3000 support against the US Dollar. A major bullish trend line is in place with support at 1.3120 on ...
Read More

GBP/USD Outlook: Pound Ticks Higher on News of Possible MV3 on Tuesday but Still Directionless

Cable spiked to session high at 1.3246 on comments that the third parliament’s vote on Brexit plan could be tomorrow. Pound remains volatile and very sensitive on any news regarding ...
Read More

GOLD Looks To Pullbacks On Corrective Weakness

GOLD looks to pullback on corrective weakness. While the commodity trades below the 1,320.35 level, risk of more decline remains. The commodity looks to move higher towards the 1,320.00 resistance ...
Read More

WTI Oil Outlook: Rising Concerns about Global Economic Slowdown Keep Oil Price Under Pressure

WTI oil remains in red on Monday, following bearish close last Friday that completed Doji reversal pattern on daily chart. Rising concerns of broadening global slowdown that were sparked by ...
Read More

GBP/USD And EUR/GBP: Pound Could Recover

GBP/USD started an upward move from the 1.3000 support and it could recover above 1.3240. EUR/GBP declined recently and broke the key 0.8600 support area. Important Takeaways for GBP/USD and ...
Read More

EURUSD 1.1290 Critical Support

The euro currency has tumbled lower against the US dollar on Friday, following much weaker than expected PMI Manufacturing data from the German economy. If the EURUSD pair falls below ...
Read More

USDJPY Back To Major Support

The US dollar has moved back towards major weekly support against the Japanese yen currency after a brief correction back to the 111.00 level. A sustained move below the 110.40 ...
Read More

WTI Oil Outlook: Bulls May Correct Further After Initial Failure At Psychological $60 Barrier

WTI oil stands at the back foot on Friday and eases to $59.30 after bulls ran out of steam and failed to close above cracked $60 barrier in repeated attempt ...
Read More

GBPJPY Loses Ground, Neutral In Near Term

GBPJPY had another bearish start on Friday, with the price breaking the crucial 23.6% Fibonacci retracement level of the upleg from 132.48 to 148.85, around 145.00. The technical indicators in ...
Read More

EURGBP Runs To 1-Month Highs, Tests Upper Bollinger Band

EURGBP pierced the 50-day moving average and a key support and resistance area around 0.8690 on Thursday to reach a one-month high of 0.8726. Gains though appeared short-lived, with the ...
Read More
Loading...