EUR/JPY is in strong uptrend since it dropped to 114.50. The uptrend is showing now signs of exhaustion as of now although the bulls seem a little weak today. That being said, there's not much resistance above. So, the path of least resistance remains to the upside. The current positive market sentiment is likely to support the EURJPY Bulls as the demand for...
US Dollar weakness across the board and positive market sentiment has given the NZD/USD bulls opportunity to continue the uptrend. I have explained the possibility of a weak USD Cycle over the next few years in my EUR/USD market commentary. This gives opportunity to high-beta currencies like New Zealand Dollar, Australian Dollar and other EM currencies to...
Gold bulls are consolidating at the 1735 region. So, another upside wave is very likely to happen soon. If Buyers can break the 1740 level clearly, then the path of least resistance is to the upside. Possible targets for bulls are 1760 and 1800 eventually.
AUD/USD is in a Bullish wave after the March'20 crash. So far, the bullish wave is showing no signs of slowing down. But, now, AUD/USD has reached a key level which is important for both Bulls and Bears. If bulls can take out the 0.6670 level easily then the path of least resistance is to the upside till 0.70 However, if the buyers fail here then AUD/USD can...
As I mentioned previously on Sunday, breaking 0.6670 will lead to more uptrend, AUD/USD in now settled firmly above 0.68. The path of least resistance is still to the upside as there is no significant resistance till 0.7050 which can challenge the bulls. Unless something fundamental happens that changes the market sentiment to negative, Australian Dollar will...
Despite US-Dollar weakness across the board, USD/JPY has held its ground. This is because the current risk-on market sentiment doesn't support the safe-haven JPY. USD/JPY is close to a very important level 108 which will determine the next direction of this pair. If bulls can successfully break this level, then the next target will be 109.25. Based on the...
USDCHF is moving sideways and currently it is hovering in an important Level. It is difficult to say if this important level has been broken or whether the Bulls have made a comeback. It would be wise to wait as see how the daily candle closes. If bears can end the day below 0.9590 and tomorrow the price doesn't go above 0.96 anymore, then we can assume that...
This is my price action analysis from the weekend where I highlighted the key level 1.2370 and the implications of bulls successfully taking out this level. Currently, GBPUSD bulls have clearly broken this Key hurdle and price is on it's way to 1.25. GBPUSD Bulls will face a small resistance at 1.25. If bulls can break it, 1.2650 will be the next target.
A couple of months ago, financial markets all over the globe saw record declines in the shortest span of time. Markets crashed with circuit breakers going off every day as investors were rattled with the Covid-19 induced economic shutdown. As most of the debts are denominated in USD, the demand for US Dollar goes up massively during a liquidity crunch . Quite...
Looking at the price action with a long-term picture, one can see that the big consolidation between 130-135 could be a precursor to a bullish wave towards 145. Bulls must successfully break the key resistance level at 135.50. After that, the path of least resistance is to the upside.
Based on the theme of broad-based US Dollar weakness since the last two weeks, USDCAD bears have broken a very important Support level as shown in the chart. So, it is possible that USDCAD Bears may enter the picture again and continue to push the price lower till the 1.34 level.
Gold has broken the short term price channel. Besides, US Dollar weakness may also help this precious commodity appreciate against the US Dollar. 1720 could be a good area for the buyers to enter again and push the price towards the 1764 Supply Level.
Broad-based US Dollar weakness has pushed nearly all the major currencies higher against the USD for the last couple of weeks. As per my analysis, US Dollar weakness may continue to persist in the near future. This gives currency traders the opportunity to go long on pairs like EUR/USD. For now, Bulls have faced a small hurdle at 1.1145 key level. However,...
Broad-based US Dollar weakness has pushed nearly all the major currencies higher against the USD for the last couple of weeks. As per my analysis, US Dollar weakness may continue to persist in the near future. This gives currency traders the opportunity to go long on pairs like GBPUSD. For now, 1.2370 has proved to be a strong hurdle for the GBPUSD...
NZD/USD is unable to break the key resistance level. Expecting a decline to the support level 0.5920 in the short-term.
EUR/USD remains trapped between two key levels as shown in the chart. As EUR/USD has reversed from the resistance level, I am expecting a decline to the support level 1.0760.
NZD/JPY has reversed from the resistance level of 66.20. I am expecting a decline to the Support Level of 63.50
GBP/NZD is at support level. There is a chance that GBP/NZD will start growing from this zone.