The EURUSD continued its run from earlier today, but did run into resistance at the 100-day MA at 1.0782. The price has since rotated lower and is now back down testing its 200 and 100-hour MAs at 1.0751 and 1.0747. Those levels are now the next barometer for this pair. Buyers have a shot to stall the fall and work back to the 100-day
On the flip side, the 100-day SMA, currently around the $1,993-1,992 area, could act as immediate support ahead of the $1,985 region, or a two-month low touched on Wednesday. This is followed by the very important 200-day SMA, currently pegged near the $1,967 area, which if broken decisively will be seen as a fresh trigger for bearish trades. The Gold price might...
zone around the 0.6050 level following the hot US CPI report. We continue to have a rangebound price action between the 0.6051 support and the 0.6151 resistance. The buyers will likely step in here with a defined risk below the support to position for a rally back into the resistance. The sellers, on the other hand, will want to see the price breaking lower to...
Gbpusd surely Fall down The UK fell into recession in the second half of last year after GDP figures for the fourth quarter showed a steeper contraction than expected. While a recession was expected ahead of the release, the fourth quarter number was slightly worse despite December performing better than anticipated. The UK has been flirting with recession for...
Intraday bias in USD/CAD stays on the upside at this point. Firm break of 61.8% projection of 1.3172to 1.3541 from 1.3352 at 1.3582 will pave the way to 100% projection at 1.3721. On the downside, break of 1.3437 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat
Intraday bias in GBP/JPY remains neutral at this point, for consolidations below 190.05. Break 190.15 will resume larger up trend. However, break of 187.82 will turn bias to the downside for deeper correction back to 185.22 support instead. In the bigger picture, up trend from 123.92 (2020 low) in in progress. Medium term outlook will stay bullish as long as...
Gold On the 1 hour chart, we can see that the price has been consolidating ever since the big drop from the US CPI report. We now have a minor resistance zone around the 1999 level which is what the buyers will need to break to start targeting the 2015 resistance next. The sellers, on the other hand, will keep on defending the level with a defined risk above it to...
After an impulsive bullish movement, USDCHF stopped, approaching a key daily horizontal resistance. The price formed a double top formation on that on a 4H time frame and violated its neckline during the NY session yesterday. Looks like the pair became too overbought. I expect a retracement to 0.8823 ❤️Please, support my work with like, thank you!❤️
The AUDUSD fell sharply yesterday, and that selling continued in the Asian session today. However after reaching into a key swing area between 0.6445 and 0.6455, momentum slowed, the price bottomed and a rebound was started. That move has now taken the price of 0.64912. Just ahead is a broken 61.8% retracement of the move-up from the October low to the December...
Crude oil today marked a new high for February, reaching $78.73 which exceeded the 38.1% Fibonacci retracement level of the downward move from the September peak at $78.14 (see chart above). This surge represented a significant bullish momentum for the commodity and was a positive tilt for the technical bias.
The USDCHF moved sharply higher yesterday after the stronger-than-expected CPI. The move to the upside extended above the 50% retracement of the move down from the October high. That level comes in at 0.8789. The 100-day moving average. That level comes in at 0.8805, and the 200-day moving average. The level comes in at 0.88464 The breaks of those key targets...
XAUUSD As you can see, after an uptrend and a new high, the price faced a correction from the 2146 range due to the liquidation of buyers. After the correction, the price rebounded slightly from the 1973 range but failed to stabilize above the 2081 liquidity range and saw another range and correction. Currently, the trend is stuck in a range. In the long-term...
Gbpjpy big bullish Unfavorable base effects were expected to lift headline and core CPI last month but in both cases, they stayed at the same level. A small win but a win nonetheless for the BoE. It was already expected to fall back to target in the second quarter before rebounding a little later in the year and this now increases the possibility of inflation...
The sharp move higher in Treasury yields and the dollar yesterday resulted in a steep drop in gold. Of note, the fall took out the January low as well as the $2,000 mark. But at least for the time being, buyers are able to hang on as the 100-day moving average (red line) at $1,989.80 is
EUR/USD news to watch will be the second estimate from Europe. Economists expect the data to show that the economy stalled in Q4. Eurostat will also release the latest weak industrial production data. The EUR/USD pair made a strong bearish breakout this week. It moved below the lower side of the bearish flag pattern. The pair also retreated below the support at ...
The GBP/USD pair retreated slightly after the latest US inflation data. According to the Bureau of Labor Statistics (BLS), the headline Consumer Price Index (CPI) rose by 3.2% in January, higher than the expected 2.7%. Core inflation rose by 3.8%, higher than the expected drop to 3.6%. These numbers mean that inflation is still high in the country and that it will...
The GBP/USD pair retreated slightly after the latest US inflation data. According to the Bureau of Labor Statistics (BLS), the headline Consumer Price Index (CPI) rose by 3.2% in January, higher than the expected 2.7%. Core inflation rose by 3.8%, higher than the expected drop to 3.6%. These numbers mean that inflation is still high in the country and that it will...
GBPAUD may retrace from a key horizontal resistance. After an impulsive yesterday's movement, the pair became overbought and formed a double top pattern on an hourly time frame. I expect a bearish move to 1.946 ❤️Please, support my work with like, thank you!❤️