Gold is rebounding after Monday’s slide. XAU / USD remains below a group of moving averages. A daily close below $ 1,850 could cause the outlook to turn bearish. After climbing to its highest level since mid-September at $ 1,965 on Monday, the pair XAU / USD took a 180-degree turn and suffered its biggest […]
Tag: Technical analysis
The rises are still limited by the 125.00 zone
EUR / JPY reverses Monday’s strong rally after reaching levels above 125.00. Now this area is expected to emerge as solid resistance. The EUR / JPY came under some downward pressure after an auspicious start to the week. EUR / JPY rose and tested multi-week highs beyond 125.00 at the beginning of the week, although […]
A move towards the 2020 lows has not yet been ruled out
The recent sell-off on DXY found decent support around 92.00. The 2020 low near 91.70 emerges as the next key support. The DXY manages to recover from Monday’s lows near 92.00, although the bull run appears to have slowed around the key 93.00 zone. That being said, the door remains open not only for the […]
More hikes point to 1.1965
EUR / USD hit the key barrier around 1.1920 and then lost momentum. An overcoming of this area could pave the way for a visit to 1.1965. EUR / USD remains under pressure after being rejected from monthly highs around 1.1920 on Monday. This area coincides with the highs of mid-September (1.1917). Despite the subsequent […]
Rise past 140.00 now seems like a clear possibility
GBP / JPY picked up pace and maintains it on Tuesday. Acceptance above the 61.8% Fib retracement supports the prospects for a further appreciation move. The GBP / JPY attracted some buying after falling near the 138.15 region on Tuesday and boosting yesterday’s gains to more than 300 pips. Strong follow-up momentum for the second […]
XAU / USD recovery stops at $ 1,890 region
Gold stops rebounding amid a bearish crossover on the 1 hour chart. The RSI on the 1 hour chart has turned flat within the bearish zone. A test of the key support at $ 1,848 is on the table. After failing to find acceptance above the $ 1,890 region during the European session on Tuesday, […]
Bulls Look Elusive Despite Monday’s Downtrend Line Break
EUR / JPY is trading near 124.00, falling from 125.14 reached during the American session on Monday. The breakout of the downtrend line on Monday fails to attract buyers. The EUR / JPY cross is moving lower during the European session on Tuesday despite a bullish breakout on the daily chart. The currency pair is […]
Bulls look for a move above the multi-month downtrend line
USD / JPY has rebounded from an initial drop to the 104.80 zone and has risen to fresh daily highs in the past hour. The setup favors bullish traders and supports the prospects for a move towards the 106.00 level. A sustained break below the daily lows is needed to negate the positive outlook. The […]
Rises to new two-month highs above the 1.3200 level
GBP / USD gains some traction on Tuesday and shoots up to more than a month high. The setup favors the bulls and supports the prospects for additional earnings. Only a sustained break below the 1.3080 region will negate the positive bias. A sudden spike in demand for the British pound has pushed GBP / […]
Bulls Point to Move Above 105.00 Following Positive COVID-19 Vaccine News
Positive news about the COVID-19 vaccine prompted aggressive short coverage around USD / JPY. A four-month downtrend line could limit any subsequent movement beyond 105.00. Mixed technical indicators on the daily / 1 hour charts further warrant caution for bullish trading. The pair USD/JPY witnessed an aggressive short-coverage move on Monday and was being backed […]
