Ethereum continues to drift lower in early Friday trade, with the second largest cryptocurrency by market capitalization approaching the lower-end of its recent range. The ETHUSD pair remains strongly bearish while trading below the $290.00 level and continues to trade inside a bearish head and shoulders pattern. Ethereum also looks set to close the month of...
The US dollar has finally broken away from range-bound trading conditions against the Japanese yen currency, with the USDJPY pair hitting 111.80 after a strong technical breakout from a bullish descending triangle pattern. The short-term trend has now turned bullish, and further upside is expected in the USDJPY pair while price continues to trade above the 111.39...
The British pound has moved sharply higher against the US dollar after EU chief negotiator Michel Barnier said that the EU was prepared to offer the United Kingdom a ‘deal like no other’. Short and medium-term buyers are likely to remain in control while price trades above the 1.2930 support level, the GBPUSD pair is also supported by bullish momentum on the...
Litecoin has found strong resistance from just above the $62.00 level, after performing a bullish technical break higher in early week trade. If buyers fail at current levels the LTC/USD pair may start to decline towards the breakout area, which is located around the $58.00 level. Traders should also note that the LTC/USD pair may be forming a bearish head and...
The BTCUSD pair has briefly moved above the $7,000 level as the number one digital currency continues to move higher alongside the broader cryptocurrency market. Bitcoin remains bearish in the medium-term while trading below the $8,300 level. In the short-term, the bullish sentiment surrounding the BTCUSD pair is likely to remain while price trades above the...
The euro continues to trade close to the 1.1700 resistance level against the greenback, as the US dollar remains under heavy selling pressure. The EURUSD pair will soon need to break above the 1.1750 resistance or risk losing short-term positive trading momentum. A bullish inverted head and shoulders pattern is now clearly visible on the EURUSD pair across the...
The British pound has started to trade lower against the US dollar, after finding strong technical resistance from the 1.2930 level on Tuesday. The GBPUSD pair may start to attract selling interest if buyers fail to push price back above the 1.2900 resistance level. The MACD and RSI indicators across the four-hour time frame are all starting to turn lower. The...
The euro currency continues to advance against the greenback, due to improving market sentiment and broad-based weakness in the US dollar. The EURUSD pair is only intraday bullish while trading above the key 1.1681 level, it also worth noting that the pair may be creating a bullish inverted head and shoulders pattern across various time frames. The EURUSD pair is...
The British pound has reversed direction and moved higher against the greenback, due to improving market sentiment and overall US dollar weakness. GBPUSD traders now await the Bank of England this morning, who are set to release the UK Inflation Report. A bullish cup and handle pattern may be forming if price stabilizes above the 1.2900 level. The GBPUSD pair is...
Litecoin, the seventh largest cryptocurrency by market capitalization has turned intraday bullish after breaking higher alongside the broader cryptocurrency market. The bullish move above the $58.00 level has negated the bearish head and shoulders pattern that formerly in place. The MACD indicator across the four-hour time frame has also moved into positive...
Bitcoin has once again found buying interest with the world’s number one cryptocurrency advancing towards the $6,630 resistance level. The BTCUSD pair retains an intraday bias while trading above the $6,550 level and may advance towards the former weekly high around the $6,800 level. It is also worth noting that volatility in Bitcoin is now at its lowest point in...
The British pound is losing bullish momentum against the against the US dollar after the pair was sold aggressively from the 1.2880 level on Friday. Brexit concerns have limited the GBPUSD pairs upside, as the UK moves into the final stages of negotiations with the European Union. Buyers will continue to aim for the 1.2910 level, while sellers will target towards...
The euro currency continues to rise against the US dollar after Federal Reserve Chair Jerome Powell struck a dovish tone towards US inflation expectations at Jackson Hole. The EURUSD pair is only intraday bullish while trading above the 1.1600 level and is further supported by a bullish technical breakout above a well-defined triangle pattern. The EURUSD pair...
The US dollar has moved to its highest trading level in two weeks against the Japanese yen, as the greenback starts to recover some of its early-week losses. The USDJPY pair retains a strong intraday bullish bias while trading above the 111.10 level and is also supported by the MACD indicator, which is steadily rising across the four-hour time frame. The USDJPY...
Ethereum continues to consolidate towards the lower end of its recent after the second largest crypto by market capitalisation was sold from the $290.00 level. A bearish head and shoulder pattern is visible with a downside projection of around $60.00. The MACD indicator across the four-hour time frame also failed to gain bullish momentum so far this week. The...
The euro continues to trade to the downside against the US dollar after yesterday’s ECB monetary policy meeting failed to boost the single currency higher. The EURUSD pair is now trading marginally above critical intraday support, at the 1.1553 level. In the short-term, a bearish head and shoulders pattern is starting to form, with the neckline around the 1.1500...
Litecoin, the seventh largest cryptocurrency by market capitalisation remains in a strong downtrend despite the recent recovery in price towards the $58.00 level. A bearish head and shoulder pattern is clearly visible across the lower time frames, and further weakness should be expected while price trades the current weekly high. The LTCUSD pair is bearish while...
The British pound continues to recovery against the US greenback as the US dollar index remains under heavy selling pressure across. Longer-term indicators for the GBPUSD pair are now starting to turn bullish, with the RSI and MACD indicators starting to turn up on the weekly time frame after weeks of declines. The GBPUSD pair is bullish while trading above the...