EUR/USD accelerates losses and falls to new cycle lows. Below the low for the year is the December 2002 low at 0.9859. The EUR/USD resumes the leg down and breaks below the 0.9900 level to hit a fresh two-decade low in the 0.9880/75 area on Monday. A continuation of the downtrend cannot be ruled out […]
Tag: Technical analysis
US Dollar Index Price Analysis: Overbought Levels Could Spark a Corrective Move
DXY rises to fresh highs near 110.30 on Monday. A technical correction should not be ruled out. The US Dollar Index (DXY) extends the rise to the 110.30 zone, where it seems to have found some initial resistance. The short-term bullish view on the dollar holds for now and is underpinned by the 7-month support […]
EUR/JPY Price Analysis: 142.30 zone will be the next target
EUR/JPY adds to Friday’s small gains below 140.00. The next hurdle to watch is at the 142.30 area. The EUR/JPY alternate gains with losses around 139.00 after bottoming out at early lows near 138.70 on Monday. Further gains in the cross are now favored once it breaks past the recent high of 140.74 (Sept 2). […]
USD/MXN Price Analysis: Sharp drop after failing to break 20.25
USD/MXN fails to break the critical resistance at 20.25. Below 20.00, the next strong support is found at 19.80. The USD/MXN is falling sharply on Friday, amid a broad decline in the US dollar. The pair’s decline comes after failing to break a key resistance zone around 20.25. For now, USD/MXN has bottomed out at […]
EUR/USD Price Analysis: Range expected to hold in the short term
EUR/USD regains composure and breaks above parity level. Further consolidation seems favored at the moment. The EUR/USD fades part of Thursday’s strong selloff and manages to recover area above key parity level by week’s end. Further consolidation seems the most likely scenario in EUR/USD at least in the short term, always within the 1.0100-0.9900 range […]
EUR/JPY Price Analysis: The next level on the upside is 142.30
EUR/JPY fades Thursday’s pullback and recovers 140.00 and above. If it continues to rise, it could revisit the 142.30 area. EUR/JPY resumes weekly recovery and manages to break above the key 140.00 barrier on Friday. More rallies on the cross could come from breaking above the 140.00 region. Beyond this zone, another test of the […]
Copper Price Analysis: Sinks almost 3% and points to a drop towards $3.2505
Copper futures plummeted on fears of a global economic slowdown, weighed down by the China PMI and other lockdowns in a city of 21.1 million. The negative divergence on the daily copper chart, coupled with the fundamental, sent prices below the 20 and 50 DMA. copper futures are falling to two-month lows at $3.4165, shedding […]
EUR/USD Price Analysis: Solid support lies around 0.9900
EUR/USD sees its bounce cut back and returns to levels below parity. Firm containment is expected near the 0.9900 area. The EUR/USD is under renewed strong downward pressure, falling back below the key parity zone on Thursday. Further consolidation seems the most likely scenario in EUR/USD at the moment, still within the 1.0100-0.9900 range. The […]
US Dollar Index Price Analysis: Rise above 105.60 likely
DXY extends the upside and rises to 3-day highs near 109.20. Additional gains remain above the 105.60 region. The US Dollar Index (DXY) reverses Wednesday’s decline and resumes buying interest above 109.00 on Thursday. Prospects for a further bounce look solid as long as it is above the 7-month support line today around 105.60. On […]
EUR/JPY Price Analysis: Bets on the upside for a revisit to 142.30
EUR/JPY is under pressure shortly after hitting the 140.00 area. More raises could put 142.32 back on the radar. EUR/JPY pulls back from recent highs reached in the 140.00 area on Thursday. Gains from the cross could accelerate once it breaks above the 140.00 zone. Beyond this zone, another test of the weekly high at […]