Technical analysis of Forex market

GBP/USD Trades Within Ascending Channel

During Friday morning hours, the GBP/USD exchange rate has reversed north from the weekly R1 at 1.3049. It is likely that some upside potential could prevail in the market, and ...
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USD/JPY Recovery Could Face Hurdles Near 105.00

Key Highlights USD/JPY traded as low as 104.24 before correcting higher. It is facing a strong resistance near 105.00 and 105.40. EUR/USD and GBP/USD corrected lower from 1.1880 and 1.3175 ...
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USDCHF Rebounds Off 7-Week Low; Negative in Medium Term

USDCHF has reversed from the seven-week low of 0.9029 after the strong bearish move since September 25. Further backing this short-term view are the Ichimoku lines and the upward slopes ...
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EUR/USD Remains Below Weekly R2

On Wednesday, the EUR/USD currency pair failed to exceed the resistance level—the weekly R2 at 1.1884. It is likely that the exchange rate could gain support from the 55-hour moving ...
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Elliott Wave View: Oil Futures (CL) Looking To End Flat Correction

Elliott Wave View in Oil Futures (CL) shows that it has ended wave ((4)) pullback at $36.89. This wave ((4)) is part of the cycle starts from April 22 low ...
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GBP Likes Brexit News: GBP/USD, EUR/GBP

In a duel over Brexit negotiations where something had to give, traders seem to think it has! Earlier, comments from EU negotiator Barnier that a deal is “within reach” if ...
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AUD/USD Set For Breakout

The Australian Dollar edged higher by 48 basis points or 0.68% against the US Dollar on Tuesday. The currency pair tested the 100– hour SMA resistance level at 0.7076 on ...
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Aussie Pairs Nearing Key Support: AUD/CAD, AUD/JPY, AUD/USD

The Reserve Bank of Australia’s (RBA) Kent spoke last evening and hinted that the central bank is considering further easing in monetary policy. This comes after the RBA recently said ...
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XAU/USD Analysis: Remains Below 1,915.00

On Monday, the XAU/USD exchange rate reversed south from the 1,915.00 level. Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,905.00 area, ...
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BTCUSD Could Hit $12,000

Bitcoin continues to gain upside traction, as the cryptocurrency benefits from technical buying after moving above the $11,700 resistance level. The BTCUSD pair could start to test towards the $12,000 ...
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AUDUSD Barely Recovers; Looks to Develop Sideways

AUDUSD has adopted a positive trajectory, improving slightly after pivoting at the 0.7055 low. The rising red Tenkan-sen line and the strengthening technical indicators endorse additional positive price action. Yet, ...
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