The euro has opened the new trading week slightly weaker against the US dollar after the pair suffered heavy losses after moving below the 1.1248 level. Going forward, the EURUSD faces a decisive week ahead as the ECB decides on rates and possibly QE timing. Over-delivering or underwhelming are all real risks ahead for the EURUSD pair. In the short-term, a...
The US dollar has started the new trading week testing the 108.00 handle against the Japanese yen currency despite escalating geopolitical tension in the Strait of Hormuz. The USDJPY suffered a strong rejection from just below the 109.30 area last week, bears will be looking for a lower weekly high. Overall, USDJPY sellers are likely to target the 107.00 to 106.80...
Litecoin has staged a strong recovery alongside Bitcoin, with the fourth-largest cryptocurrency posting double-digit gains on Friday. The LTCUSD pair has recovered back to key neckline resistance, although bulls are still struggling with the $100.00 resistance level. Technical rejection from the $100.00 level should spark a sell-off back towards the $90.00 level,...
The British pound continues to enjoy fresh buying interest against the US dollar as bulls hold price above the pivotal 1.2530 level. Further intraday gains above the 1.2550 level could propel the GBPUSD pair towards the 1.2610 resistance area. The GBPUSD pair will post a huge bullish weekly reversal candle if the daily candle closes above the former weekly open,...
The euro is trading back above the 1.1248 level against the US dollar in early Friday trade after bears once again failed to move the pair below the 1.1200 level. Bulls now need to move price above the 1.1285 level to encourage fresh EURUSD buying interest. Bears need to break the 1.1200 support level over the coming trading sessions or EURUSD sellers may start to...
The British pound continues to recovery against the greenback after the pair found solid technical support from the key 1.2380 level. Sterling traders are now awaiting UK retail sales data, with better than expected numbers likely to provoke a strong test of the 1.2480 area. Worse than expected UK retail sales data may see the GBPUSD pair sold back towards the...
The US dollar is probing the downside against the Japanese yen currency after being strongly rejected from its key weekly pivot point. A sustained bearish breakdown below the 107.80 level is likely to see the USDJPY pair testing towards at least the 107.50 support level. The USDJPY pair also appears vulnerable to risk-off trading sentiment and a steep decline in...
Bitcoin has staged a minor recovery from the $9,100 support level, following the early breakout below the July 2nd trading low. Daily price closes around the $9,600 level are now key and are likely to be the next directional catalyst for the BTCUSD pair. Short-term technical indicators also have a much-needed bullish correction are now reaching extreme oversold...
The euro is back under downside pressure against the US dollar after the pair was sold heavily following much worse than expected German data. The EURUSD pair is vulnerable to further losses while trading below the 1.1220 level and could easily test it's former weekly low. The June monthly trading low is the key support level to watch if the 1.1200 support region...
The British pound remains extremely weak against the US dollar on Wednesday, following a breakout move below the current yearly trading low for the pair. If bulls can defend the 1.2380 level the GBPUSD pair could bounce back towards the 1.2470 level over the coming sessions. A breach of the 1.2380 level is likely to see the GBPUSD sold down towards the 1.2340...
Litecoin continues to slide lower in early Wednesday trade after bulls failed to hold the cryptocurrency above the pivotal $90.00 resistance level. The LTCUSD pair may start to fall back towards its 200-day moving average where bargain hunters could start to pick up at the crypto at a more attractive price. Overall, the current down move looks set to continue...
The British pound is struggling to recover higher against the US dollar, ahead of the release of key employment and wage data from the UK economy this morning. The GBPUSD pairs weekly pivot point, at 1.2530 is the key level to watch for signs of a directional bias. A lack of interest to hold the GBPUSD pair above the 1.2530 level may prompt a rebound back towards...
The euro is trading above the 1.1250 level against the US dollar, with the pair remaining contained in a relatively narrow trading range since last Wednesday. Bulls need to break above the 1.1285 level, to encourage a key technical test of the 1.1310 level. Continued weakness under the 1.1248 level could prompt EURUSD bears to test towards the important 1.1220...
Ethereum is attempting to recover earlier losses after the second-largest cryptocurrency found strong technical support from just above the $200.00 level. Further technical weakness in the ETHUSD pair should be expected if sellers keep the price below the $220.00 support level. Overall, a major test of the Ethereum’s 200-day moving average, just above the $170.00...
The British pound has opened the new trading week on solid footing against the US dollar, following a strong weekly price around the 1.2570 level. GBPUSD bulls need to advance the pair above the 1.2610 level to encourage a test of the key 1.2660 area. Sustained weakness below the 1.2530 level may start to trouble the GBPUSD pair, placing the emphasis back on the...
Bitcoin is trading back under the $10,600 level in early Monday trade after the BTCUSD pair suffered heavy losses over the weekend. The short and medium-term outlook for the BTCUSD pair is now shifting, with price now making lower highs and crucially, lower lows. A break below the psychological $10,000 level exposes a very important technical test of the $9,600...
The euro currency is once again edging higher against the US dollar in early Monday as the technical recover from the current monthly low continues. The EURUSD faces an important week ahead as the trading range for the pair continues to narrow, pointing to a possible technical breakout. Bulls need to clearly break the 1.1310 resistance level, while sellers need to...
Ethereum is under heavy technical selling pressure on Friday after breaking under the important $270.00 support level. The ETHUSD pair is tracking Bitcoin lower and is now trading below the neckline of a head and shoulders pattern with a downside target of around $85.00. The $220.00 support level is the next bearish target if Ethereum sellers continue to hold...