Technical analysis of Forex market

Bad Data, Possibility of Canceling Olympics Pushing USD/JPY Higher. Can it Continue into Fiscal Year-End?

The news was not good for Japan this week. First, Japan extended its state of emergency due to the coronavirus to 5 more Prefectures. In addition, the Bank of Japan ...
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EUR/USD Tests Weekly R1

During Friday morning hours, the EUR/USD currency pair tested the resistance level—the weekly R1 at 1.2185. If the predetermined resistance level holds, it is likely that some downside potential could ...
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GBP/USD Continues To Trade Within Falling Wedge Pattern

Yesterday, the GBP/USD exchange rate bounced off the upper boundary of the rising wedge pattern. From a theoretical point of view, it is likely that the currency pair could re-test ...
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XAU/USD Remains Below 1,875.00

As apparent on the chart, the XAU/USD exchange rate failed to surpass the 1,875.00 level. It is likely gold could gain support from the 100– and 200-hour moving averages near ...
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USD/JPY Extends Losses, Recovery Could Face Hurdles

Key Highlights USD/JPY extended its decline below the 103.50 support. A major bearish trend line is forming with resistance near 103.80 on the 4-hours chart. The US Initial Jobless Claims ...
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USDCHF’s Bullish Pressures Pause around Vicinity of 200-MA

USDCHF has poked back underneath the 200- and 100-period simple moving averages (SMAs) at 0.8866 and 0.8857. Its recent attempts to decisively surpass the 200-period SMA have ended up consolidating ...
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USD/JPY Trades Below 103.60

Yesterday, the USD/JPY currency pair breached the symmetrical triangle pattern south. Given that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages in the 103.80 area, ...
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USD/CAD Technical Outlook: Is it Time for a Long-Term Change in Tend?

As with any currency pair, there are an abundance of factors to consider when trying to forecast price. Those factors can be broken down into technical factors and fundamental factors ...
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EUR/USD Could Trade Downwards

On Tuesday, the EUR/USD currency pair broke the falling wedge pattern. Also, the pair has revealed a medium-term descending channel. From a theoretical point of view, it is likely that ...
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EURUSD 1.2150 Now Key

The euro currency continues to correct higher against the US dollar, as traders react to Italian Prime Minister Conte winning a vote of confidence in the Italian parliament. Continued gains ...
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GBP/USD Outlook: UK Inflation Data Could Provide Clearer Near-Term Direction Signal

Cable is standing at the front foot on Tuesday, following strong downside rejection previous day and inflated by fresh risk sentiment that weakened dollar. Larger uptrend remains intact despite double ...
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