Technical analysis of Forex market

GBP/USD Outlook: Bulls Remain Firm on Weak Dollar / Brexit Negotiations Optimism

Cable cracked 100DMA barrier (1.2570) in extension of Monday’s 0.55% rally through 1.2500/16 (round-figure / Fibo 61.8% of 1.3199/1.1409). Weakening dollar holds in red for the sixth straight day and ...
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USDCAD Declines to 2-Month Low but Indicators Signal a Pullback

USDCAD extended Monday’s losses and is currently trading not far above a two-month low of 1.3491 hit earlier today. The strong bearish rally started has been evolving since April 21 ...
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EURGBP Skyrockets To New 2-Month High

EURGBP surged towards a fresh two-month high of 0.9055 earlier today after picking up momentum above the 0.9000 resistance. Meanwhile, in technical indicators, the RSI is hovering in overbought zone, ...
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EURUSD Monthly Close

The euro currency is testing towards the 1.1100 resistance level against the US dollar, as the pair continues its strong upside breakout. Traders will be attempting to perform a positive ...
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ETHUSD $235.00 In Focus

Ethereum is starting to rally back towards the April monthly trading high, as the second largest cryptocurrency stabilizes above the $220.00 level. The $235.00 and $250.00 resistance levels are the ...
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USDCHF Extends Sideways in a Range-Bound Market

USDCHF presently below the 0.9700 mark, continues to zig zag above and below the mostly horizontal simple moving averages (SMAs) in a directionless market that has endured since early April ...
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EURJPY’s Ascent Retraces, Loading for Another Run Up

EURJPY despite the recent pullback in price maintains its bullish bias above the simple moving averages (SMAs) and the Ichimoku cloud. The current horizontal Ichimoku lines reflect a pause in ...
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AUD/USD Outlook: Optimistic Fundamentals Prevent Deeper Pullback For Now

The Aussie remains bid ion Thursday despite double failure at 200DMA (0.6657), underpinned by fresh optimism that economic downturn over pandemic lockdown may be less severe than feared. This so ...
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USD Finds Strength Against Its Majors

The US Dollar was bullish against most of its major pairs on Wednesday with the exception of the EUR. On the economic data front, the Mortgage Bankers Association’s Mortgage Applications ...
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USD/JPY Testing Key Resistance at 108.10 Following Another $1T+ Japanese Stimulus Package

During today’s Asian session, Japan’s Prime Minister Shinzo Abe and his cabinet approved another ¥117T (USD $1.1T) stimulus package including subsidies to help firms pay rent, financing help for struggling ...
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XAU/USD Tumbled To 1,705.00

Yesterday, the XAU/USD exchange rate tumbled to the 1,710.00 level. During Wednesday morning, the rate declined below the given level. From the one hand, it is likely that some downside ...
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