Silver remains on the defensive, near one-month lows hit on Monday. The situation favors bearish traders and supports the prospect of further losses. Any recovery attempts above the $19.00 mark are likely to run out. the silver it struggles to gain traction on Tuesday and is holding close to a one-month low hit the day […]
Tag: Technical analysis
USD/JPY Price Analysis: Rebounds to multi-week highs around 139.00
USD/JPY hit a fresh 7-week high at 139.00. Once the 139.00 figure is broken, USD/JPY’s year-to-date high is at 139.38 as the pair heads towards 140.00. The USD/JPY continued its rise, underpinned by rising US Treasury yields, on Monday, amid bearish sentiment fueled by Jerome Powell’s speech last Friday. He reiterated the Fed’s commitment to […]
USD/MXN Price Analysis: 20.15/20 resistance zone holds after first test
USD/MXN fails to break through key resistance near 20.20. Breaking above 20.20 would give the dollar a boost. The price continues to consolidate around 20.00. The USD/MXN it is sideways on Monday as it pulled back after reaching the highest level in almost a week at 20.16. The pair tested a critical resistance zone around […]
EUR/USD Price Analysis Have you made a provisional ceiling?
EUR/USD regains composure after earlier drop near 0.9900. Bullish attempts should find the initial hurdle near 1.0100. EUR/USD reverses early pessimism, including a test of the 0.9900 area on Monday. The recent failure to advance beyond 1.0100 leaves this region as a potential short-term top, while the 0.9900 neighborhood looks to offer decent enough containment […]
DXY Price Analysis: Immediately on the upside comes 109.77
DXY makes new cycle highs near 109.50 on Monday. If it continues to rise, it could revisit the September 2002 high at 109.77. The US Dollar Index (DXY) extends the rally after Powell’s exposure in Jackson Hole to the 109.50 area, while recording new cycle highs. In the short term, the index could continue to […]
EUR/JPY Price Analysis: Further recovery now points to the 55-day SMA
The EUR/JPY continues to give wings to the ongoing rebound and returns to 138.00. If it continues to rise, the pair could retest the 55-day SMA near 138.90. The EUR/JPY extends recent gains and recovers the area above the 138.00 area earlier in the week. The continuation of the uptrend has an initial target of […]
USD/CHF Price Analysis: It is at the top of the 0.9600-0.9660 range
USD/CHF rebounds from weekly lows to end the week with gains of 0.73%. From a daily chart point of view, USD/CHF has nowhere to go; probably remain in consolidation. In the short term, a symmetrical triangle on the 4-hour chart of USD/CHF points to 0.9767. The USD/CHF rallies after hitting weekly lows around 0.9577 earlier […]
EUR/USD Price Analysis: Powell fails to break markets, status quo targets 1.0120/50
EUR/USD bulls still in play despite Powell’s speech. The bulls can target 1.0120/50 as long as 1.0000/0.9980 holds. Federal Reserve Chairman Jerome Powell’s speech in jackson hole It did create some volatility, but nothing outside of daily ranges as it didn’t say anything significantly different than what Fed members have already been talking about. He […]
USD/MXN Price Analysis: Bearish bias while below 20.20
USD/MXN holds above 19.90 but faces pressure Further losses seem likely while below 20.20. The USD/MXN rises modestly on Friday but remains below 20.00. The pair found support above 19.80 and bounced back. The move higher so far shows the lack of strength keeping the bias in favor of the Mexican peso. A consolidation below […]
USD/CAD Price Analysis: Fight near 1.2900 confluence support
USD/CAD is back near a one-week low amid a new wave of dollar selling. The decline in oil prices undermines the loonie and seems to help limit the fall. Sustained weakness below the 1.2900 confluence will set the stage for further losses. The pair USD/CAD has seen an intraday drop from the 1.2955-1.2960 zone and […]