The USD / CAD recovery is capped below 1.3100 so far on Friday. The technical setup on the 1-hour chart remains in favor of the bears. The focus is on global market sentiment and Canadian data for fresh momentum. USD / CAD has halted its recovery from Thursday’s low of 1.3062 and has encountered a […]
Tag: SupportResistance
Technical setup remains in favor of bears
USD / CAD is looking to extend Monday’s slide. The bearish bias will remain intact as long as it moves below the 21-day SMA. The daily RSI is pointing down in the bearish territory. USD / CAD remains close to the previous day’s lows below the 1.3100 level during the European session on Tuesday, with […]
Bears are hopeful as long as it is below critical resistance at 104.60
USD / JPY consolidates into a potential falling wedge on the 4H chart. The confluence of the 50-100 mobile half hour (HMA) limits upload attempts. The hourly RSI remains bearish making the pair vulnerable. The USD/JPY is recording small losses around 104.50, looking to extend the previous drop after witnessing good trading in the markets […]
Attempts a bounce at 1.3100 after the rising wedge breakout
USD / CAD recovers above 1.31 amid a bullish crossover of moving averages. The pair has seen a breakout of the ascending wedge on the 1 hour chart. The 1.3127 level is likely to challenge the recovery. USD / CAD is attempting to rebound from a dip below 1.3100 as the bulls struggle to regain […]
Inverted shoulder-head-shoulder break continues to gain upward traction
EUR / USD bulls extend control for the third day in a row. The inverted shoulder-head-shoulder breakout on the 1-hour chart points to 1.1900. Bullish crossover detected, but RSI is well above the midline. EUR / USD remains higher, above the 1.1850 level at the start of a new week, extending its winning streak for […]
Maintains critical support, risks remain down
USD / JPY tests critical support near 104.50 after the bearish crossover. The RSI on the 1-hour chart flirts with the oversold territory, allowing further declines. The 21-hour SMA at 104.69 offers immediate resistance. USD / JPY is moving lower for the third day in a row on Monday, settling at a five-week lows near […]
Regains initial losses and climbs back above 105.00 amid favorable technicals
USD / JPY bounces off lows and climbs back above the 105.00 level at the start of the European session. The breaking of a descending wedge is confirmed on the 15-minute chart. The RSI remains within the bullish territory. The USD / JPY pair has managed to recover its initial losses and is trying to […]
Aim higher and look for a triangle breakout on the 1 hour chart
USD / JPY bulls look to extend rally towards 106.00 level A breakout of the symmetrical triangle is likely on the 1 hour chart. USD / JPY has regained the 21-hour SMA amid a bullish RSI. The USD / JPY pair is following the rebound of the US dollar across the board, as optimism over […]
The bears are targeting the 91.55 level as the path of least resistance appears lower
The US dollar DXY index stops the decline, it is not out of the woods yet. The bears need a sustained break below the September lows of 91.75. The decrease in electoral uncertainty in the US increases the appetite for risk and weighs on the dollar. The bears are taking a breather early in the […]
Struggle with the 21-hour SMA on its way to recovery from 5-month lows
WTI struggles to close the bearish opening gap. A firm breakout above the 21-hour SMA is critical for the bulls. US oil remains vulnerable amid demand and election concerns. WTI (NYMEX futures) is attempting a tepid recovery from the five-month lows of $ 33.85 reached early in the Asian session on Monday, as the bulls […]