Technical analysis of Forex market

EURAUD Positive in Near Term, Neutral in Medium Run

EURAUD recorded decent gains in the past month, crossing above its 50- and 200-day simple moving averages (SMAs) to touch 1.6260, a high last seen in January. The short-term picture ...
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GBP/USD Outlook: PM May Announced Her Resignation, Opening a Number of Brexit Scenarios

Cable regained traction and quickly recovered from half a cent dip on announcement of the day of Theresa May’s resignation and regained levels above 1.2700 handle. May’s announcement that she ...
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GBPUSD Bullish Pattern Building

The British pound has reversed sharply higher against the greenback following continued broad-based weakness in the US dollar index. The four-hour time frame is showing that bullish inverted head and ...
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EURUSD Struggling With 1.1190

The euro is struggling to move above the 1.1190 level against the US dollar as the implications of the European election results weigh on the single currency. If the EURUSD ...
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EUR/USD Outlook: Strong Rebound Extends But Overall Picture Still Bearish

The Euro extends recovery above 1.1200 barrier on Friday, following previous day’s strong bounce from new 2019 low at 1.1107 (vs previous at 1.1111, posted on 26 Apr). Bears faced ...
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EURGBP Climbs, But More Upside Needed to Affirm Bullish Outlook

EURGBP staged a mighty rally over the past weeks, crossing above its 50- and 200-day simple moving averages (SMAs) to touch the 0.8840 zone, before retreating somewhat. The near-term outlook ...
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CADJPY Erases Gains; Remains in Neutral Mode

CADJPY has been finding strong resistance on the 82.60 barrier, falling beneath the 20-simple moving average (SMA) in the daily chart. Since mid-January, the pair has been trading within a ...
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Gold Muted To Fed Minutes

Gold prices did not react much to the release of the FOMC meeting minutes. This comes amid the market sentiment trading mixed. The threat of the trade wars continues to ...
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EURCHF Cautiously Negative in Short Term, Neutral Overall

EURCHF retreated in recent weeks, falling below both its 50- and 200-day simple moving averages (SMAs). The near-term outlook has thus turned to cautiously negative, though the bigger picture still ...
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USD/CAD Outlook: Upbeat Canada Retail Sales Push Loonie to One-Month High

Better than expected Canada’s retail sales (Mar 1.1% vs 1.0% f/c / Core 1.7% vs 0.9% f/c) pushed loonie to new one-month high at 1.3357. USDCAD’s fresh bearish acceleration broke ...
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Elliott Wave View: Short Term Support In FTSE

Short term Elliott Wave view in FTSE calls the move lower to 7150.9 on May 13 as wave A. This suggests that the move lower from April 23 is unfolding ...
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