Silver is seen digesting its recent strong move towards a one-month high, set earlier this Monday. The oscillators on the daily chart favor the bulls and support the prospects for further gains. In the 4 hours chart, the RSI is slightly overbought, which justifies a consolidation before the next rise. the silver struggles to ride […]
Tag: Technical analysis
EUR/USD Price Analysis: For more rallies, it has to break 1.0280
EUR/USD extends bullishness to 1.0270 zone on Monday. Further gains seem likely if the 1.0280 area is broken. EUR/USD’s bullish momentum has faltered again around the 1.0270 area earlier in the week. Ideally, the pair should break above recent highs around 1.0280 to allow for a continuation of the short-term bounce. Against this, the next […]
USD/JPY Price Analysis: Bears flirting with 132.00 level, rising trendline break in play
The yen experiences strong selling for the fourth consecutive day and falls to a minimum of a month and a half. The selling bias of the dollar and the narrowing of the yield spread between the US and Japan continue to exert pressure. The break of the ascending trend line now supports the prospects for […]
EUR/JPY Price Analysis: Possibility of more losses in the short term
EUR/JPY falls for the third consecutive session on Monday. There are minor support levels at 134.98 and 133.92. EUR/JPY starts the week on the defensive and approaches the key 135.00 zone, three-month lows. The cross entered the third consecutive week with losses and remains vulnerable to further decline in the short term. A deeper pullback […]
DXY Price Analysis: Further losses not ruled out
DXY accelerates the corrective decline to the 105.30 area. Immediately to the downside is the 55-day simple average at 104.75. The US Dollar Index (DXY) falls for the fourth consecutive session and revisits the 105.30 area earlier in the week. The index broke out of a consolidation after several sessions before the FOMC and in […]
EUR/USD Price Analysis: The pair remains within the 1.0100-1.0260 range since July 22
EUR/USD will end the week almost sideways, gaining 0.05%. The daily chart of the shared currency is neutral to the downside, but the hourly chart is neutral to the upside. EUR/USD Price Analysis: Daily Close Above 1.0200 Could Pave Way To 1.0300; otherwise it could fall towards 1.0096. The EUR/USD is quoting at 1.0220, after […]
USD/CHF Price Analysis: Drops to fresh 4-week lows as sellers eye the 200 DMA
The USD/CHF is preparing to end the week with significant losses of 1.01%. From a daily chart perspective, USD/CHF has turned into a neutral-bearish bias. The USD/CHF hourly chart reinforces the daily bias as sellers target a break below 0.9495 on their way to the 200 DMA. The USD/CHF falls for the fourth consecutive day […]
USD/JPY Price Analysis: Quickly bounces off multi-week low hovering around 50 DMA
USD/JPY recovers more than 200 pips from a multi-week low and is back near the daily high. A strong intraday USD bounce turns out to be a key factor behind the strong intraday move higher. The lack of follow-up buying beyond the 50-day SMA warrants caution by bullish traders. The pair USD/JPY continues its strong […]
DXY Price Analysis: There is temporary support at the 55-day average
DXY’s bearish momentum gains strength on Friday. Further losses could lead to a visit to the 55-day SMA at 104.73. The US Dollar Index (DXY) lost ground for the third consecutive session at the end of the week and retested the area below 106.00 for the first time since the beginning of July. The index […]
EUR/JPY Price Analysis: Door open for a challenge to the 200-day moving average
EUR/JPY extends the decline for the second consecutive session. The next downside zone emerges at the 200-day SMA at 133.66. EUR/JPY accelerates the weekly pullback and has already tested fresh 2-month lows in the 135.50 area, where some initial containment seems to have emerged. The cross remains under pressure and is vulnerable to further decline […]
