The EUR/GBP currency pair on the daily time frame has been following a downtrend recently. The price experienced high volatility amid recent Brexit developments. EUR/GBP registered 2-year low at 0.84731 on 13 March. The price dipped below the key support level of 0.85310 and as of writing, the price is hovering around 0.85460. The price action in the EUR/GBP is...
The Crude oil on the 4-Hour time frame has been following an uptrend recently. The price jumped more than 2% and registered the high of 58.52 on 13 March (Highest level in 4 months). The price broke above the key resistance level of 57.89. The recent bullish move in the Crude oil came after a large drawdown in US Crude oil inventories. Supply losses from Venezuela...
AUD/USD, on the H4 chart, was on a downward path from the end of February until the 8th of March when a bottom was recorded at 0.70034. There buyers came into the market and demand overcame supply with upward pressure building. The price broke through the 15 and 34 Simple Moving Averages with the Momentum Oscillator registering an upward break of the zero...
The XAUUSD on the hourly time frame has been following an uptrend recently. The price broke above the $1300 mark on 13 March registering 2-week high of 1305.874 after Brexit woes raised uncertainty in the market. Recent dollar weakness is another reason for bullish momentum in the Gold. Price on the hourly chart is well above the 200-period moving average and...
Gold, on the H4 chart, was in a steep downtrend from the middle of February until the beginning March when buyers found the price attractive and started countering selling pressure. For a time, there was a balance between demand and supply and the resulting range lasted until the 8th of March, when demand completely overwhelmed supply. The market broke through the...
The AUD/NZD currency pair on the daily time frame has been following a downtrend since 5 September. The price dipped below 1.03674 on 8 March to register the lowest close in 2 years. Since the start of 2019, the price moving between 1.06742 (High of 21st January) and 1.03674 (Low of 6 March). The Aussie dollar experiencing serious selling pressure after weaker...
The price of Crude Oil, on the Daily chart, has been in an upward path from the end of December. On the 22nd of February a higher top was registered at 67.838 and sellers tried to overcome buying pressure. The bears temporarily managed push prices downward and the 15 Simple Moving Average was broken but the bulls countered and the price could not break through...
The EUR/USD currency pair on the daily time frame has been following a downtrend since 24 September. The price dipped below 1.1200 for the first time in 8 months on 7 March and recorded a low of 1.11803. Weaker than expected US jobs data gave a boost to the EUR/USD but the currency pair failed to make a strong recovery as EUR/USD is still hovering around...
The AUD/CHF currency pair, on the D1 chart, was in a range with no clear direction from the beginning of February. On the 27th of February a lower top was registered at 0.71696 as sellers found the price attractive and supply started to overwhelm demand. The market broke through the 15 and 34 Simple Moving Averages and the Momentum Oscillator broke the zero...
USDCAD currency pair on the hourly time frame has been following an uptrend since 27 February. The price reached 1.34623 on 6 March (The highest level in 2 months). As of writing, price is trading near 2-month high at 1.3461. The recent bullish move in USDCAD came after positive news from China regarding the US-China Trade deal. The pair is trading well above the...
The USD/CHF currency pair, on the H4 chart, has been in an uptrend since the 28th of February. The buying pressure started when a bottom was reached at 0.99268 and buyers found the price attractive at that levels. The market broke through the 15 and 34 Simple Moving Averages and the Momentum Oscillator broke the zero baseline, confirming the weakness of supply in...
The USDJPY currency pair on the 4-hour timeframe has been following an uptrend since 3 February. The price reached 112.136 on 5 March (The highest level of 2019). The price action in the USDJPY is mainly driven by the strength in the US Dollar. Traders eagerly waiting for the Non-Farm payroll numbers from the US and clarity on the US-China Trade deal for clear...
The GBP/JPY currency pair, on the H4 chart, was on an upward path from the middle February. The buying pressure continued until a top was reached at 148.572 on the 1st of March. Sellers found the price attractive at that levels and the market broke through the 15 and 34 Simple Moving Averages, forming a bottom at 146.591. This might prove to be a critical support...
The AUDUSD currency pair on the 4-hour timeframe has been following a downtrend since 31 January. The price fell below the key support level of 0.70549 (the low of 12 February) and recorded 0.70292 on 6 March. The recent bearish move in the AUDUSD came after the strength in the US dollar following strong economic data and positive news regarding the US-China trade...
The EUR/GBP currency pair, on the H4 chart, was in a downtrend from the middle February. The downward momentum continued until a bottom was reached at 0.85294 on the 27th of February. Buyers found the price attractive and the market broke through the 15 and 34 Simple Moving Averages, forming a top at 0.86243. This might prove to be a critical resistance level. The...
The EURGBP currency pair on the 4-hour timeframe has been following a downtrend since 14 February. The price registered 7-month low at 0.85288 on 27 February. The EURGBP made a comeback and registered the high of 0.86233 on 1 March. As of writing, price is hovering around 0.8600, trying to make another lower top. Recent bullish move in the currency pair seems weak...
The XAUUSD on the hourly timeframe has been following a downtrend since 25 February. The precious metal dipped below the $1300 on 1 March, and recorded a low of $1290.07. The recent bearish move in the Gold came after a steep rise in the US Treasury, which resulted in stronger US Dollar. The stronger US Dollar then pushed the price of the Gold lower. The hourly...
The CADJPY fulfills the prerequisites of a bullish trend on the daily charts as there have been consistently higher highs and higher lows. With the candlesticks trading above the 200 Simple Moving Average and the MACD trading to the upside, bulls are currently in control. A solid breakout and daily close above 85.20 is seen opening a path higher towards 86.20....