EUR / USD was up 0.73% on Friday, engulfing the previous day’s highs and lows and forming a bullish outer candle on the daily chart. If this pattern appears after a prolonged or noticeable selloff, the bullish outer day is considered an early warning of an upside turn. However, the change in trend is confirmed […]
Tag: SupportResistance
Bears challenge critical support at 21-day SMA
GBP / USD sellers are looking to enter below the critical support of the 21-day SMA. Tuesday’s Doji candle suggests that bears may be losing their conviction. The focus of attention shifts to economic data for the United Kingdom and the United States. GBP / USD is on the defensive around 1.3660 at the start […]
XAG / USD rises strongly to eight-year highs and hits $ 30 level, more gains in sight
XAG / USD tests the $ 30 level for the first time in eight years. The bulls remain in control amid the retail frenzy. The $ 32.25 level is on the horizon for buyers, amid the bullish monthly RSI. Silver bulls (XAG / USD) remain unstoppable for the fourth day in a row on Monday, […]
Prepared for a rally towards the 1.3000 level after the big technical breakout
The USD / CAD bulls are preparing for a test of the 1.3000 level, where the 100-day SMA lies. The daily chart shows the break of a descending wedge on Wednesday. The USD / CAD recovers the 50-day SMA, with the RSI climbing into positive territory. USD / CAD is accelerating Wednesday’s rally and remains […]
Targets 0.7250 in the middle of a bullish crossover
The NZD / USD remains poised for a further rally. The 1 hour chart shows a bullish crossover. The RSI remains in overbought conditions. The NZD / USD is looking to extend its breakout to the upside after a brief consolidation stage, thanks to the widespread weakness of the US dollar, upbeat sentiment and a […]
Aim upward, with an inverted shoulder-head-shoulder coming into play
GBP / USD is looking for its next move up. An inverted shoulder-head-shoulder pattern confirmed on the 4-hour chart. The bullish crossover and a bullish RSI point to additional gains. GBP / USD remains high ground as it looks to extend the advance above the 1.3700 level. The pair hit multi-year highs at 1.3719 on […]
Defend key 1.2660 support ahead of US and Powell data
USD / CAD bounces above the key support at 1.2660. A death crossover suggests that risks remain to the downside. The RSI on the 1 hour chart sees a rally, but is still bearish. USD / CAD is making small attempts to rally around the 1.2675 region, with the bulls yearning to regain the 1.2700 […]
Bulls looking to find acceptance above 61.8% Fibonacci
The USD / JPY consolidates the movement to 104.20 in the Asian session. The bulls are holding on to the resistance of the 61.8% Fibonacci retracement on the 1 hour chart. The 103.92 level is the strong support, the RSI remains bullish. USD / JPY is looking to extend gains above the 104.00 level, having […]
The 200 hourly SMA limits the bullish breakout near 1.2760
USD / CAD is recovering from multi-year lows, capped by the 200 hourly SMA. Buyers remain hopeful amid a bullish RSI on the 1 hour chart. The focus is on US stimulus news and Canadian retail sales data. USD / CAD consolidates its recovery from multi-year lows as the bulls take a breather ahead of […]
Overbought conditions on the daily chart point to a minor pullback
NZD / USD is back from multi-year highs of 0.7172. Overbought conditions on the daily RSI could drive a pullback. The focus is on the news about the US stimulus and money flows towards the US dollar. The NZD / USD pair extends its corrective decline from two-and-a-half-year highs of 0.7172, hovering around the 0.7130 […]
