USD / JPY is moving lower amid cautious sentiment. It maintains the downside breakout of the month-long horizontal support amid a bearish MACD. The downtrend line from mid-November becomes the key resistance. USD / JPY remains below the monthly descending triangle, trading near the 103.50 level at the start of the European session on Wednesday, […]
Tag: SupportResistance
XRP / USD testing critical support, $ 0.33 on sight
The XRP rally did not materialize as the price fell below the 200-period EMA on the 4-hour chart. A break below the support line of a symmetrical triangle will target $ 0.33. He Ripple’s XRP is losing ground fast. The third-largest cryptocurrency has lost more than $ 6 billion of its value in the last […]
Bounces off the 200 hourly SMA to regain the 1.2100 level before the ECB
The EUR / USD rally is intact as long as it remains above the 200 hourly SMA. The RSI on the 1-hour chart is pointing higher above the 50.00 level. Will it maintain the rebound ahead of the expected stimulus from the ECB? EUR / USD is climbing to daily highs once again above 1.2100, […]
XAU / USD targets $ 1,850 following bullish pennant breakout on 1-hour chart
Gold extends recovery for the second day in a row. Bullish pennant breakout confirmed on the 1 hour chart. The RSI on the 1 hour chart is approaching the overbought territory. Gold’s recovery from the five-month lows of $ 1,765 gains additional traction on Wednesday, as the bulls prepare for a test of the previous […]
Preparing for a retest of 0.7400 amid a bullish crossover
AUD / USD bulls are bracing for another move up. Bullish crossover confirmed on the 1 hour chart. The bullish RSI on the 1 hour chart and the bullish Australian GDP in the third quarter offer support to the pair. AUD / USD moved slightly higher at the start of the European session on Wednesday, […]
50 Hour SMA and Wedge Resistance Test XAU / USD Recovery From $ 1,764
Gold prices are struggling against a key confluence of resistance around $ 1,785 / 86. The three-day downtrend line adds to the upward filters. New selling will await a confirmation of the bearish chart pattern. Gold rises towards the $ 1,785 region, gaining 0.50% on the day, just before the European session on Tuesday. The […]
Rises above 1.3350 after Monday’s inverted hammer
GBP / USD rises above 1.3350 as it justifies the formation of a bullish pattern the day before. The MACD signals and the sustained move above the 10-day SMA are also favoring buyers. GBP / USD climbed above the 1.3350 level during the Asian session on Tuesday. The pair registers a U-turn from the 10-day […]
Bearish bias remains intact as long as it remains below the 21-hour SMA
The path of least resistance for USD / JPY looks to the downside. A possible death crossover on the 1 hour chart indicates the risk of further falls. A small bounce to the 21-hour SMA cannot be ruled out, as the RSI recovers. The USD / JPY pair remains just below the 104.00 level at […]
Monthly support line supports bulls above 1.3300
GBP / USD bounces off the two-week horizontal line to update the intraday high. A bullish MACD and sustained strength above the 50 SMA favors buyers. GBP / USD moved slightly higher during the Asian session on Tuesday, approaching the 1.3345 region after strong movements in both directions the day before. The pair reached a […]
21-hour SMA rescues bulls after Brexit news triggers a 40-pip drop
GBP / USD stops a rapid decline near the support of the 21-hour SMA. However, the bears continue to defend the 1.3300 level. Recent Brexit news suggests the UK hasn’t moved on three key issues. Having faced rejection once again below the 1.3300 level, GBP / USD has quickly lost 40 pips from the daily […]
