EUR / USD extends the consolidation move above the 1.18 level. Additional losses appear to be supported near 1.1790 for the time being. The EUR / USD pair has entered a consolidation phase around the 1.18 level along with the prevailing caution ahead of the ECB event on Thursday. The continuation of the lateral movement […]
Tag: Technical analysis
Six-month resistance line limits upside
The DXY fades Monday’s rally and retreats below the 93.00 level. The 93.30 area offers interim resistance in the short term. The US Dollar Index (DXY) resumes falling following Monday’s positive price action and comes under renewed downward pressure after failing to sustain above 93.00. Meanwhile, it appears that occasional bullish attempts remain limited by […]
A move to 123.00 is not ruled out
The EUR / JPY extends runs with no clear direction below 124.00. Immediately to the downside the lows of the month are lined up around 123.00. EUR / JPY’s stance remains neutral / bearish so far this week and flirts with the 100-day mean around 123.50 on Tuesday. Further consolidations are likely amid a broad-based […]
104.00 is the next relevant target
USD / JPY extended the slide on Tuesday and fell below a short-term uptrend channel support. The setup favors bearish traders and supports the outlook for weakness towards 104.00. Any attempt at a recovery move is likely to remain limited near the key psychological mark of 105.00. USD / JPY extended its steady intraday decline […]
Ready to test the 200-day SMA
The kiwi resumed its rise after a brief lull on Friday. AUD / NZD’s bearish bias is intact, testing key support around 1.0630. The pair AUD / NZD it consolidated below 1.0700, reflecting the strength of the bearish move. On Monday it bottomed at 1.0636, the lowest level in nearly three months. It tested levels […]
Seeks to extend the move above the 105.00 level
USD / JPY is moving higher and looking to extend the move above the 105.00 level. The positive movement stops near the resistance of a multi-day bullish channel. Oscillators on the daily chart warrant some caution for aggressive bulls. The USD / JPY pair has risen to fresh daily highs at the start of the […]
Needs to break below 0.7100 to pave the way for further weakness
AUD / USD remained depressed during the North American session on Monday. Mixed oscillators on hourly / daily charts deserve caution before placing directional bets. The pair AUD/USD It struggled to capitalize on its good intraday bounce of around 40-45 pips and was last seen trading modest losses around the 0.7120-25 region. The pair showed […]
The 55-day SMA remains bearish … for now
EUR / USD is in daily containment at the 1.1800 zone so far. Additional losses appear contained near 1.1790 for now. The upward momentum of EUR/USD seems to have found a decent barrier at monthly highs in the region of 1.1880 (Oct 21). The continuation of the sideways mood seems supported by the 55-day SMA […]
Initial resistance is approaching 93.40
DXY regains his smile and shifts his focus to the 93.00 barrier. The 55-day SMA near 93.30 offers provisional short-term resistance. He DXY resumes higher after Friday’s pullback, although the 93.00 barrier looks like a tough nut to crack for USD bulls so far. If the ongoing bullish attempt gathers momentum, then the next interim […]
An extension of the range seems likely
EUR / JPY extends swing activity around 124.00. Immediately to the upside, the obstacle of 125.00 arises. EUR / JPY remains sideways between the 100-day and 55-day SMAs at 123.50 and 124.65, respectively, for the time being. More consolidations are likely amid a broad-based cautious stance in world markets. A move below the 100-day SMA […]
