GBP / USD is in a bearish consolidation mode around 1.3650. The Fed’s decision focuses investors’ attention for the next big move in the pair. The pair draws a bearish flag on the 4-hour chart amid an oversold RSI. GBP / USD is pressing daily lows near the 1.3650 region, while the US dollar remains […]
Tag: SupportResistance
Attempts a bounce from the 50 hour SMA
GBP / USD faces a rejection just below 1.39 as the US dollar rallies. Brexit concerns weigh on the pound, although the 50-hour SMA comes to the rescue. The RSI sees a new rally, but remains below 50. GBP / USD is attempting a bounce from daily lows near 1.3835, returning more than half of […]
Raises target $ 67 and beyond, amid market optimism
WTI hits new four-day highs above $ 66. Bullish interest picks up momentum after WTI reverted to the 50 average. The RSI is steadily higher towards the overbought region, currently at 64.37. WTI (NYMEX futures) is trading near multi-day highs reached near $ 66.50 in the past hour, courtesy of resurgent demand for higher-yielding assets […]
Impending Bearish Crossover Calls Sellers, As 1.3700 Level Retests
GBP / USD turns negative after rejection just below 1.3750. The impending bearish crossover and an RSI below 50 keep the downside bias intact. Strong support is near the 1.3610 level, the last line of defense for the bulls. GBP / USD is struggling against 1.3700, having faced rejection just shy of the 1.3750 psychological […]
Strong recovery in WTI from three-month lows to the $ 64 zone
WTI is making a solid comeback from the lowest levels since late May. The weakness of the dollar and improvement in the mood of markets boosts the crude. Concerns about the delta variant remains a threat to the recovery. The WTI (futures on NYMEX) is on a solid recovery from three-month lows, and even reached […]
Remain caught between two key moving averages while waiting for new momentum
USD / CAD is still on track to retest the 200-day SMA at 1.2614. The 21-day SMA is the level to beat for the bears, while the RSI remains bullish. Acceptance above the 200 SMA is needed to revive the uptrend. The USD / CAD pair is looking to take advantage of the rally the […]
Aiming for a move towards 1.3800, with bullish pennant in play
GBP / USD breaks consolidation to the upside, focus is on 1.38. GBP / USD confirms a breakout of the bullish pennant on the 1 hour chart. The RSI remains flat, but remains well above the midline. GBP / USD is looking to extend its breakout to the 1.3800 level, with the bulls likely meeting […]
Drops below 0.6950 after rejection above the 50 SMA
The NZD / USD faces rejection above the 50 SMA and dips below 0.6950 during the Asian session on Thursday. The bears are now targeting the demand zone at the 21 SMA. The RSI has crossed the middle line to the downside. NZD / USD sellers returned on Thursday after a temporary turn to the […]
Awaits acceptance above the 50-day SMA to unleash the further rally
USD / JPY is fighting the 50-day SMA after Tuesday’s solid bounce. The 100-day SMA saved the day for the USD / JPY bulls. The USD bounce could lead to acceptance above the 50 SMA, but the RSI is still bearish. The USD / JPY pair is consolidating the recent rally, climbing just above the […]
No Bounce Force, Downside Risks Persist
GBP / JPY rally remains capped below 150.00. The cross shows a bearish flag on the four-hour chart. The price is recovering from oversold levels. GBP / JPY is attempting to pause its five-day downtrend, although the recovery remains limited at 150.00, remaining in neutral ground for the day. A bearish flag formation is visible […]
