EUR / GBP has struggled to capitalize on its attempted recovery move to the 0.9050 region. The setup favors the bears and supports the outlook for further weakness in the short term. Any significant positive move to the upside could be seen as a selling opportunity and remain limited. The EUR / GBP cross has […]
Tag: Technical analysis
Above 0.7550 on the optimism of the US stimulus.
AUD / USD is holding firm in hopes of US fiscal stimulus. The daily chart still shows signs of fatigue in the uptrend. AUD / USD remains firm near recent highs, around the 0.7550 region, with investors celebrating the growing prospect of further fiscal stimulus in the United States. Senate Democratic Leader Chuck Schumer has […]
Below monthly support, focus on conversations about the US aid package
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, […]
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 […]
Pennant break in sight, points to 1.2200
EUR / USD looks poised to test the 1.2200 level, at new multi-year highs. A pennant breakout is likely on the 1 hour chart. The RSI remains bullish as the pair recovers the 21-hour SMA. EUR / USD is preparing for a breakout to the upside of its choppy trend around 1.2150, as the bulls […]
Recovery stops just above 0.9100
The EUR / GBP is moving within a choppy range between 0.9120 and 0.9100. The three-week-old uptrend line and the 200-period SMA will test the bears. Mixed UK employment data does little to influence or provide a significant boost to the pair. The EUR / GBP cross remains within a range of about 20 pips, […]
1.2177 is the level to beat for the bulls
The EUR / USD has faced rejection at 1.2177 twice this month. The 4-hour chart shows a double top pattern. EUR / USD is virtually unchanged on the day, just below the 1.2150 region, at the start of the European session on Tuesday and having faced rejection at the December 4 high of 1.2177 on […]
The risks of a pushback increase
The AUD / USD daily chart is showing signs of bullish fatigue. A pullback to the 10-day SMA can be seen. AUD / USD is moving slightly lower at the start of the European session on Tuesday, around the 0.7520 region, after peaking near 0.7550 earlier in the day. The long upper wicks on the […]
Pair tests 20.20 as Mexican peso loses momentum
The main trend of the USD / MXN is bearish, in the short term supported at 19.90 and 19.70. The US dollar will strengthen if it remains above 20.20. The pair USD/MXN it is rising for the fourth day in a row and remains firm above the 20-day moving average. The US Dollar gained momentum […]
Intraday decline stalls near 50% Fibonacci level
The EUR / GBP coupled with its strong intraday losses moved further away from the multi-month highs on Friday. The intraday decline found some support near the 50% Fibonacci amid the oversold RSI on the 1 hour chart. The setup still seems skewed in favor of the bulls and warrants caution before placing further bearish […]