GBP/USD slides to fresh six-week lows hit at 1.1791. Sentiment soured as traders weighed in on the Fed’s recent hawkish comments. Data releases from the UK were mixed as GfK’s consumer sentiment slumped while retail sales beat expectations. The GBP/USD tumbled in the American session as sentiment turned sour as traders reassessed their reading of […]
Tag: Technical analysis
EUR/USD Price Analysis: A drop to parity appears on the horizon
EUR/USD extends decline to 1.0050/45 band. The next thing to the downside looks like a potential test of the parity zone. The EUR/USD adds to the recent weakness and extends the break of the 1.0100 level at the end of the week. In the short-term horizon, new losses appear, as well as a probable visit […]
USD/CAD Price Analysis: Facing rejection near 1.3000, upside potential intact
USD/CAD falls off its one-month high after the release of Canadian retail sales. Weakening oil prices could undermine the loonie and offer support amid a stronger dollar. The technical set-up favors bullish traders and supports prospects for further short-term gains. The pair USD/CAD rises to a one-month high during the early North American session, though […]
US Dollar Index Price Analysis: Bets Raised for a Test of 2022 Highs
US Dollar Index (DXY) at new highs just above 108.00. There is now room to hit 2022 highs beyond 109.00. The US Dollar Index (DXY) rises for the third session in a row and trades at fresh multi-week highs just above 108.00 on Friday. Continuation of the bullish momentum is now expected to target the […]
AUD/USD Price Analysis: Bears have the upper hand below 0.6900
AUD/USD falls to a two-week low on Friday amid strong dollar-buying tracking. Risk aversion momentum puts additional bearish pressure on the risk sensitive Aussie. The bears are now waiting for a weakness below the monthly low before placing further bets. The pair AUD/USD extends its recent sharp rejection of the technically significant 200-day SMA and […]
EUR/JPY Price Analysis: Further rally would lead to a test of the 55-day moving average
EUR/JPY rises again after Thursday’s pullback. The next target on the upside is the August high at 138.40. EUR/JPY continues the weekly rally and is already flirting with the 138.00 zone on Friday. If the cross breaks above the August high at 138.39 (Aug 10), gains should accelerate further and revisit the 55-day simple moving […]
USD/JPY Price Analysis: Rebounds above the 4-hour EMA 200, and approaches 136.00
USD/JPY was up more than 0.60% once it broke above a one-month downtrend line on Thursday. The 4 hour chart shows the buyers breaking above the 200 EMA, approaching 136.00. If USD/JPY breaks above the 136.00 level, a move towards 137.47 is expected. The USD/JPY It is advancing strongly in the American session, breaking above […]
USD/MXN Price Analysis: Breaks above 20.00 again, loses momentum
USD/MXN rises for the third consecutive day, again above 20.00. Dollar needs to stay above 20.00, next resistance at 20.15/20. If it drops below 19.90 the bullish bias is removed. The USD/MXN rises for the third consecutive day, although so far it has failed to print new weekly highs. Upside remains capped below 20.10. The […]
GBP/USD falls towards 1.2000 after the aggressive statements of the Fed
GBP/USD sellers are eyeing a break below 1.2000 which would pave the way for 1.1800. Fed’s Daly: 50 or 75 bps hike in September is reasonable; rates will rise and remain until inflation is favored. US jobless claims fall; housing data continues to weaken. The GBP/USD remains on the defensive after falling below the 20-50 […]
EUR/USD Price Analysis: A test of 1.0100 and below is still on the cards
EUR/USD reverses some of the recent gains and revisits 1.0130. An immediate fall would send the pair to the weekly low of 1.0096. The EUR/USD resumes the downward path and revisits the 1.0130/25 area after two consecutive daily advances. Further losses should find the next support at the weekly low of 1.0096 (July 27). Should […]
