The euro is under slight pressure against the US dollar on Monday, after the pair suffered its weakest monthly price close since June 2017. The EURUSD pair has a strong bearish bias while trading above the 1.1216 level, as it represents the neckline of a large head and shoulders pattern. Traders should note the 1.1310 level offers the strongest form of weekly...
Bitcoin has opened the new trading month supported by bullish sentiment after the BTCUSD pair closed the week above its 100-day moving average for the first time since July 2018. The BTCUSD pair is also supported by bullish pattern on the four-hour time frame, with both inverted head and shoulders and triangle breakout in play. The overall intraday bullish bias...
Global manufacturing and US job data to set the market tone for April During the upcoming trading week global manufacturing and jobs data set the market tone as a new month of trading gets underway. This week we see PMI manufacturing data releases from the Japanese, Chinese, UK, eurozone, Canadian and United States economy. The American economy also releases the...
Bond yield inversion Bond yields across the globe continued to decline this week, as bond traders offered the strongest indication yet that a global economic recession may be coming. The US ten-year bond yield dipped below the yield of the three-month Treasury bill for the first time in over seven years, while German and Japanese 10-year bond yields continued...
The British pound has fallen towards key trendline support against the US dollar after British PM Theresa May failed to find the backing for a vote on her Brexit bill in UK Parliament. The GBPUSD pair has a strong intraday bearish bias while trading below the 1.3100 level. If bears can force price below the triangle pattern, heavy technical towards the 1.2970...
The euro continues to edge lower against the US dollar on the last trading day of the week, with the pair failing towards the neckline of a bearish head shoulders pattern on the daily time frame. If sellers can force price below the 1.1216 level, further technical selling towards the 1.1170 level will likely occur. Buyers need to move price above the 1.1290...
Ethereum continues to struggle for direction on Friday, with the second largest cryptocurrency by market capitalization contained to a $10.00 price range so far this week. The $135.00 level remains the key weekly pivot, while critical technical support is found at the $124.00 level. The daily time frame is showing that major weekly technical resistance for the...
Bitcoin is coming under slight selling pressure on Tuesday after buyers failed to build bullish momentum above the $4,000 resistance level. The BTCUSD pair is testing Ichimoku cloud support on the four-hour time frame, with the $3,850 level major weekly support below. Bulls need to move price above the Kijun-Sen line, around the $3,975 level in order to regain...
The British pound is coming back under selling pressure against the US dollar after finding strong technical resistance from the 1.3245 level on Monday. If GBPUSD sellers can breach the 1.3100 support level, the key 1.3000 level may once again come into focus. Brexit news and moves in the US bond market are currently the main intraday drivers for the GBPUSD...
The US dollar is once again trading testing the 110.00 level against the Japanese yen as global equity markets come under downside pressure. The USDJPY pair has a strong bearish intraday bias while trading below the 110.30 resistance level. The 109.10 level now offers the strongest form of support below the pairs former weekly trading low. The USDJPY pair is...
The British pound has opened the new trading week slightly lower against the US dollar as news reports surface that British PM Theresa May is coming under pressure to resign. The GBPUSD pair only has a weekly bearish bias while trading under the 1.3100 level, with critical technical support, found at the 1.2970 level. If bulls move price above the 1.3200 level,...
The euro currency has started the new trading week under pressure against the US dollar as fears grow that the German economy could be headed into a recession. Bearish pressure is likely to heighten while price trades below the 1.1290 level, although sellers need to break the 1.1175 level to increases selling pressures. Traders now await the release of key IFO...
Ethereum is struggling to find direction in early Monday trading, with the second largest cryptocurrency trapped in its narrowest four-week trading range in over six months. The Ichimoku cloud on the daily time frame shows that critical support is found at the $124.00 level. Above the current monthly trading high, the Kinjin-sen line offers breakout resistance...
The euro currency is losing ground against the greenback on Friday, following a strong technical reversal in the US dollar index. The EURUSD pair has a bearish intraday bias while trading below the 1.1360 level, whilst the 1.1400 level is former key support now turned resistance. Sellers will likely target the 1.1290 level if price continues to trade beneath the...
The British pound is under pressure against the US dollar as the United Kingdom still faces the prospect of leaving the EU without a deal in just seven days time. If the GBPUSD pair once again falls below the 1.3100 support level, the bearish sentiment will increase. Bulls now need to move price above the 1.3200 resistance level in order to stabilize the GBPUSD...
Litecoin is testing interim support on Friday, as the fourth largest cryptocurrency struggles to make gains above the $60.00 resistance level. Bearish price divergence is also building on the Momentum and MACD indicators on the four-hour time frame. A sustained break under the $53.00 support level should accelerate technical selling back towards the important...
The US dollar is under increasing downside pressure against the Japanese yen currency following yesterday’s FOMC interest rate decision. A bearish triple-top pattern formation is present, while price has also convincingly broken outside of the rising price channel on the four-hour time frame. The 110.40 and 109.80 levels offer bearish weekly targets while the...
The euro has soared higher against the US dollar after the US FOMC Dot Plot showed that the central bank does not expect to hike US interest rates again this year. The EURUSD pair has a strong intraday bullish bias while trading above the 1.1400 level, key weekly resistance is now found at the 1.1500 level. Only a sustained move under the 1.1360 support level can...