GBP / USD stops the positive movement again near the resistance of the ascending channel. The technical setup favors the bulls and supports the prospects for lower level buying to emerge. A sustained break below the 1.3200 level is needed to nullify the short-term bullish outlook. The GBP / USD pair has returned a portion […]
Tag: Foreign exchange
Additional gains expected above 1.1900
EUR / USD quickly reversed Monday’s slide from just above 1.19. If this level is exceeded, the focus would shift to 1.1920. EUR / USD regains some bullish momentum on Tuesday after another rejection near the 1.19 region earlier in the week. If the bulls manage to break through and break above the 1.19 barrier, […]
USD / CHF stabilizes near 0.9130 after testing the 0.9100 region
USD / CHF recovers initial losses before the American session. The DXY US Dollar Index remains in negative territory on Tuesday. The major Wall Street indices appear to be opening decidedly higher. The USD/CHF it made a modest rebound on the back of the general strength of the USD on Monday and closed in positive […]
Next key upside appears at 125.00
EUR / JPY extends the bounce and tests the key 124.00 zone. Monthly peaks just beyond 125.00 appear as the next key level. EUR / JPY rebounded from last week’s lows of the area below 123.00 and is now flirting with the 124.00 zone where the 100-day moving average is located. If buying pressure picks […]
Strong support sits around 92.00
The DXY did not break below 92.00 and rebounded. Further south, the lows of this year emerge near 91.70 (September 1). The US Dollar Index (DXY) continues to flirt with the eight-month support line, around 92.15 today, as the selling bias appears to have returned to the dollar. The outlook for the index remains negative […]
NZD / USD set to test June 2018 high at 0.7061 – Commerzbank
The NZD / USD is at two-year highs after eroding the highs of December 2018, January and March 2019 at 0.6939 / 70. The kiwi now looks to the June 2018 high of 0.7061, says Karen Jones, Technical Analysis Research Team Leader at Commerzbank. Key statements: “The NZD / USD is eroding the December 2018, […]
USD / CAD bounces after approaching 1.3000, maintains bearish bias
Loonie cuts gains against the dollar and is the worst among those linked to commodities. The bearish tone in USD / CAD is easing but the downtrend remains strong. The USD / CAD is falling on Tuesday and hit the lowest intraday levels in two weeks at 1.3010 before bouncing towards the 1.3050 zone, where […]
EUR / JPY hits one-week highs near 124.00
Rise in stocks keeps EUR / JPY buoyed. Beginning of presidential transition in the US stimulates buying of shares. The EUR / JPY is rising for the second day in a row, racking up an advance of nearly 100 pips since the start of the week. The main factor behind the advance is being a […]
EUR / USD is moving higher and targeting the 1.1900 level
EUR / USD reverses the recent drop and points back to the 1.1900 level. The German IFO index beat estimates in November. Consumer confidence and data from the US housing sector will focus the attention of investors in the American session. The best tone around the common currency lifts the pair EUR / USD to […]
AUD / USD rises above 0.7350 to its highest level since September 2
AUD / USD catches some aggressive buying on Tuesday and rises above the 0.7335-40 resistance. The Fed’s pessimistic expectations and prevailing risk appetite sentiment weigh on the safe-haven USD. Global risk sentiment remains supported by optimism about the COVID-19 vaccine. The pair AUD/USD has risen above the 0.7335-40 resistance zone and has soared to the […]
