As you can see in the chart above, the GBP/USD has already violated the sideways channel, which was keeping Sterling steady below 1.2380. The immediate resistance is likely to be around 1.2520 and 1.2560. While support can be seen around 1.2380. The RSI is massively overbought, so we may see GBP/USD going towards 1.2450 area before continuing bullish trends.
EUR/USD – Daily Forecast
Technically, the EUR/USD is trading right above the resistance become support level of around 1.1074. The RSI is holding in the overbought zone, suggesting the odds of bearish reversal. But the Doji candle above 1.1060 is supporting the direct currency Euro. Above 1.1070 level, the EUR/USD can drive the bullish trend in EUR/USD until...
BTC/USD – Daily Forecast
Last week, everyone was focusing on the European Central Bank's rate decision, perhaps that's the reason we didn't see much movement in the Cryptocurrencies. The BTC/USD is now trading in the Symmetric Triangle Pattern, which is supporting the leading cryptocurrency at the 10,000 level along with resistance at 10,400 level.
Sterling still has strong support at 1.2300, and the bearish breakout can trigger a sell-off until 1.2255. While the continuation of a bullish trend and breakout of 1.2370 resistance can lead GBP/USD towards 1.2400 and 1.2424.
European Central Bank has voted to restart its Q.E. programme and hit banks with deeper negative interest rates to make them lend. The initial response was pretty bearish, but it was something every investor was expecting.
Therefore, the EUR/USD pair reversed to trade at the same old zone of around 1.1060. For now, the violation of 1.1070 level can drive the...
The BTC/USD has not changed much as investors focus stayed on the ECB monetary policy meeting, which drove massive movements in the gold and EUR/USD. Bitcoin continues to gain bullish momentum to trade below double top resistance area of around 10400. The violation of this level can extend bullish rally until 10770 and 10925 areas. Elsewhere, support can be seen...
Sterling hasn't moved much, and technical levels are almost the same. Sterling still has strong support at 1.2300, and the bearish breakout can trigger a sell-off until 1.2255. While the continuation of a bullish trend and breakout of 1.2370 resistance can lead GBP/USD towards 1.2400 and 1.2424.
The ECB is due to release it's monetary policy decision today, and the market is expecting a rate cut or a dovish statement from ECB. Which is why we see a sharp bearish trend in the EUR/USD. Today is a momentous day and EUR/USD trading heavily depends upon the rate decision.
The rate cut by ECB can trigger sell-off until 1.0925 while no rate and neutral policy...
On the daily timeframe, the BTCUSD is getting strong support above the triple bottom level of 9920. Resistance is likely to stay at the same level of around 10250. Sentiment will remain mixed, until we have a bullish breakout above 10250 as it may open further room for buying until 10,355 and 10,402. Whereas, below 10250 BTC can remain bearish until 9985.
Most of the market sentiment is same. Sterling still has strong support at 1.2330 and the bearish breakout of which can trigger a sell-off until 1.2275. While the continuation of a bullish trend and breakout of 1.2370 resistance can lead GBP/USD towards 1.2400 and 1.2424.
The single currency Euro is likely to trade with bearish sentiment below 1.1060, the double top pattern. On the lower side, support prevails at 1.1025. Since the bullish sentiment is a bit stronger, pair may hit 1.1088 in case of bullish breakout at 1.1060 level today.
A day before, the EUR/USD completed bearish retracement at 1.1030 level and bounced off to trade at 1.1050 trading level. For now, the EUR/USD faces the initial resistance at the 1.1074/84 bands, the double top level completes, and this time it will become the triple top.
I will be looking to stay bullish above 1.1035 level to target 1.1060 and 1.1100 in case...
The BTC/USD is holding in below strong support become resistance level of 10,450 level, and on the lower side, the immediate support is prevailing at 10,050. The leading cryptocurrency is likely to continue trading within this range. However, the bearish breakout can trigger sell-off until 9,890, and bullish breakout may lead it towards 10,789.
The EUR/USD has completed bearish retracement at 1.1030 and even soared higher to 1.1038. Now, the oversold currency pair is likely to face profit takings. EUR/USD faces the initial hurdle at the 1.1074/84 bands, where align last week’s top and the 21-day SMA. A rebound beyond this area should open the door for a test of key resistance line, today at 1.1132....
SD – Daily Forecast
The BTC/USD violated the resistance level of 10,450, and it was expected to reach below the next target level of 10,850. The target level is already met, and now BTC/USD can experience slight correction until 10,447 and 10,244. While the resistance remains the same around 10,850.