The British pound continues to trade at depressed levels against the greenback in early week trade, following a strong technical rejection from the 1.2800 level. Overall, sterling traders remain cautious ahead of the upcoming vote on British PM Theresa May’s proposed Brexit deal in UK parliament next week. The release of the United Kingdom Manufacturing PMI will...
The euro has opened the new trading week on stronger footing against the US dollar currency, following a positive outcome from the weekends G20 Summit. The EURUSD pair has bounced from the 1.1300 level, putting the bullish inverted head and shoulders pattern on the lower time frames back in focus. Overall, a clear break from the 1.1300 to 1.1400 price range is...
Ethereum has slipped under the $110.00 level in early week trade after the recent short-term recovery met strong technical resistance from the $125.00 level. Buyers now need to break the $125.00 level in order to find further bullish momentum for an attack on the $140.00 resistance level. A sustained loss of the $100.00 support level should put the ETHUSD pair...
The US dollar is trading with a cautious tone against the Japanese yen, as financial market participants await the outcome of US President Trump’s meeting with Chinese President Xi Jinping at the G20 Summit. A bullish outcome from the leaders meeting will likely support heavy USDJPY buying, while a bearish outcome should put further downside pressure on the USDJPY...
Litecoin is continuing to recover higher in early Friday trade, after finding strong dip-buying demand from the $27.19 level. Buyers need to break above the $35.67 resistance level, in order to trigger the bullish inverted head and shoulders pattern that is building across the lower time frames. A sustained move below the $29.67 support level will likely put...
The euro is trading within a narrow range against the US dollar, as price continues to consolidate inside an ascending triangle pattern. A break above the 1.1400 resistance level exposes further upside towards the 1.1470 level, while a clear breach of the 1.1370 level may provoke a technical test of the 1.1335 support level. The G20 summit and the release of EU...
The US dollar is reversing earlier gains against the Japanese yen currency, following a dovish speech from Federal Reserve Chair Jerome Powell on Wednesday. The USDJPY pair was rejected from key trendline resistance, at 114.02, creating a bearish triple-top pattern formation. A strong move below the 113.15 level may spark technical selling towards rising trendline...
The euro has recovered earlier losses against the US dollar after Federal Reserve Chair Jerome Powell’s comments prompted a strong move lower in the greenback. Buyers now need to break above the 1.1400 level, to maintain bullish intraday pressure on the EURUSD pair. The recent move higher has also confirmed the creation of an inverse head and shoulder, which is a...
Bitcoin continues to trade above the $4,000 level in early Thursday trade, with the recent short-term recovery in the BTCUSD pair finding interim resistance above the $4,300 level. The one-hour time frame is showing that a potential bullish inverted head and shoulders pattern may be starting to form. The MACD indicator on the one-hour time frame is also signalling...
Ethereum is recovering towards the $110.00 level in early Wednesday trade, after finding strong dip-buying demand below the psychological $100.00 level. The MACD and RSI indicators on the one-hour time frame are also signalling that short-term bullish momentum is building. A sustained move below the $106.00 level may prompt another technical test of the $97.60...
The euro currency is trading below the important 1.1300 level against the US dollar after key Federal Reserve members called for further US interest rates hikes. Bearish pressures are continuing to build on the EURUSD, with the pair strongly intraday bearish while trading below the 1.1300 level. A breach of the 1.1216 support level is likely to spark heavy...
The British pound has continued to slump lower against the US dollar in early Wednesday trade, with price now trading below key trendline support. Sterling risks heavy technical selling while trading below the 1.2740 level, while the pair is also approaching the neckline of a bearish head and shoulders pattern. Only a move above the 1.2882 resistance level can...
The US dollar continues to press higher against the Japanese yen currency, following a confirmed technical break above the 113.15 level. Going forward, buyers need to break above the 114.19 level to negate the recent bearish double-top created earlier this month. If the USDJPY pair is rejected from current trading levels, a further technical test of the 112.79...
The euro currency is back under pressure against the US dollar after being firmly rejected from its weekly pivot point on Monday. The bullish inverse head and shoulders pattern on the one-hour time frame remains valid, although buyers need to defend the 1.1300 support level. In the short-term, the 1.1330 level remains the key area to watch when trading the EURUSD...
Litecoin has fallen to a fresh 2018 trading low on Tuesday, breaking below the $29.60 support level as downward technical selling pressures resume. The LTCUSD pair is heavily intraday bearish while trading below the $30.00 level and may soon move to test the next key support level, at $26.00. It is worth noting that the RSI indicator on the daily time frame has...
The British pound remains under pressure against the greenback in early week trade, as investors look past the positive outcome from the EU Summit. The GBPUSD continues to create higher price low, although the pair is only intraday bullish while trading above the 1.2882 level. Sterling traders now look to the return of US markets and a scheduled speech from Bank...
The euro is back under pressure against the US dollar after price broke below key trendline support, prompting heavy technical selling. A strong decline below the 1.1330 level is likely to prompt EURUSD sellers to test the important 1.1300 support level. Traders now look to key German IFO data and a scheduled speech from European Central Bank President Mario...
Bitcoin has opened the new trading week strongly and is currently posting intraday gains after briefly dipping below the $4,000 support level. A sizeable upside correction remains possible as the BTCUSD pair has reached the bearish head and shoulders pattern downside objective. The MACD and RSI indicators on the four-hour time frames are also starting to correct...