USD / JPY rally from 104.35 finds resistance at previous support at 104.95. The dollar remains trapped within a downtrend channel. The US dollar reversal from weekly highs at 105.75 witnessed on Wednesday has been contained in the 104.30 area on Thursday and the dollar attempted to rebound amid a broad-based dollar strength, although the […]
Tag: Technical analysis
Returns towards 9pm, about to test September lows
The Mexican peso continues to move with a bullish bias against the US dollar. USD / MXN momentarily fell below 21.00, the next hurdle emerging at the 20.85 zone. He USD/MXN it falls for the third day in a row on Thursday, still at a gradual pace. Recently, it posted a new monthly low at […]
You are struggling to overcome the confluence of the downtrend line with the 200 hourly EMA
USD / CAD gains some traction for the second day in a row, although it lacks continuation. A sustained force above the confluence zone at 1.3175-80 is needed to negate the bearish bias. The USD / CAD pair has struggled to capitalize on its positive intraday move and has remained capped below significant confluence resistance […]
Stays Bearish Below 1.3100, Low Looks Limited
GBP / USD witnessed a modest pullback from resistance marked by 61.8% of the Fibonacci level. The prospects for some buying to emerge on the dips should help any significant downturn. The pair GBP/USD It maintained its offered tone during the early North American session and was last seen trading near the lower end of […]
Tentative resistance is in the region of 93.30 / 50
The DXY index bounces off new lows in the 92.50 / 45 region on Thursday. Tentative resistance on the upside is at the 93.30 / 50 area. The DXY index rallies slightly after bottoming out in the 92.50 / 45 region on Wednesday, to fresh multi-week lows. If the current bullish attempt gains more strength, […]
Initial support is around 1.1790
EUR / USD corrects lower from Wednesday’s highs around 1.1880. Further gains could point to the 1.1917 level (September 10 high). The bullish momentum in EUR / USD appears to have encountered a stiff barrier in the 1.1880 region on Wednesday, triggering the current reversal towards the vicinity of 1.1820 so far. As long as […]
The rises point to 125.00
EUR / JPY finds initial support in the 123.80 region so far. Immediately to the upside, the obstacle of 125.00 arises. EUR / JPY extends Wednesday’s moderate pullback and finds initial containment at the 123.80 area so far on Thursday. The 100-day SMA emerges lower at 123.50, which should offer additional support if the selling […]
Defend the support of the 50-day SMA as the range movement continues
The NZD / USD is rebounding from the key support of the 50-day SMA at 0.6633. A move above 0.6682 is needed to confirm a bullish breakout. The NZD / USD pair is moving slightly higher during the European session on Thursday, around the 0.6660 region, after having defended the 50-day SMA at 0.6633 earlier […]
Bullish pennant breakout and gold cross on 1-hour chart point to further gains
GBP / USD is targeting a breakout above 1.3200 amid Brexit optimism. Breakout of a bullish pennant and a gold cross are confirmed on the 1 hour chart. The RSI on the 1 hour chart remains bullish still below the overbought region. Amid the official resumption of Brexit negotiations and hopes for a possible mid-November […]
XAU / USD breaks out of symmetrical triangular resistance
Gold rose for the third straight session on Wednesday. A move above a symmetrical triangle sets the stage for higher gains. Buying on the dips now should help limit the drop near $ 1,900. The gold It built on the previous day’s modest bounce from a two-week rising trend line support and rose to more than […]
