GBPCAD (1H) - short term bearish bias The British pound is under pressure after market participants started to unwind their positions as UK voters are going to the polls today. The bearish RSI divergence forecast a first wave of sell-off as buying momentum was fading. The break below the support level of 1.7370 has dented the optimism and triggered a series of...
EURCHF (1H) - short term bullish bias After a 24-hour consolidation at the support level of 1.0910, the euro rallied above the moving averages and the immediate resistance level of 1.0935. The RSI divergence was the first sign that the pace of the sell-off has decelerated and there could be a U-turn around the corner. One might think the pair would continue to...
Gold (1H) - short term bullish bias The precious metal met stiff selling pressure at the 30-day moving average last week. The sell-off cooled downed after it showed signs of over-extension with the RSI indicator below 30. The latest recovery is a combination of sellers taking profits and buyers buying the dip. As the price makes higher highs and moves above the...
USDJPY (1H) - short term bullish bias The US dollar had been consolidating in the daily support area between 108.30 and 108.50. Last week's sporadic bullish impulses prompted the sell side to cover their positions and paved the way for a potential rebound. The bullish MA cross is a sign that buying interests have outpaced selling ones and a series of higher highs...
AUDNZD (1H) - short term bullish bias The downtrend might see a correction in the next few hours as multiple signs of reversal start to show up. Yesterday's RSI divergence was the first indication that the downside momentum has decelerated, which could give buyers an opportunity to lift the price. Last night's strong impulse above the immediate resistance of...
AUDUSD (1H) - short term bearish bias The Australian dollar came under renewed pressure after it struggled to stay above the major support level of 0.6810. Two consecutive attempts at the previous top of 0.6860 could not lift offers in that area, which suggests strong bias toward the downside. As the 20-hour moving average crossed below the 30-hour one, sentiment...
GBPUSD (1H) - short term bullish bias After a few days of sideways action, the British pound resumes its movement on the upside. Sellers have failed to push below the psychological level of 1.3100, and instead let buyers establish a stronghold above 1.3130. This allowed the over-shot RSI to get back to the neutral zone and ready for the next rally. As we speak,...
EURJPY (D) - medium term bullish bias The single currency is in what looks like the fourth wave of its upward movement after rallies in September (1st wave) and October (3rd wave). Recent pullbacks were met with strong buying interests near the 31.8% (119.20) Fibonacci retracement level, and we expect more trend followers to join in as the pair approached the...
DAX 30 (1H) - short term bullish bias Last Monday's sell-off pushed the RSI indicator into the over-sold territory. The ensuing RSI divergence where the indicator showed a higher low in contrast to a lower low in the price was a sign that selling pressures have eased off. After a rebound above the immediate resistance in the shape of moving averages, the index...
AUDCAD (D) - short term bullish bias The Australian dollar is on a correction course in its long-term bearish trend against its Canadian counter-part. The pair has been rising along a trend line where multiple tests have found strong buying interest. We expect the price to narrow its consolidation for a few more days and make another attempt to the previous high...
EURAUD (D) - medium term bullish bias After a rally above the daily resistance of 1.6300 last month the euro pulled back to the 50% (1.6150) Fibonacci retracement level. We saw strong buying interest in that area as the price stabilised. The RSI is still in the neutral zone which suggests there is plenty of room on the upside. The immediate target would be the...
WTI (1H) - short term bullish bias The surge from the psychological support of 55 has put the crude price back on track. The bullish MA cross and the break above 58 were firm confirmations that sentiment has swiftly recovered. Buyers are now attempting to push to the major level of 60, but before that we would expect a few more hours of sideways action as the RSI...
AUDJPY (D) - medium term bullish bias The Australian dollar has been rising along a well-defined trend line which acts like a strong support level in case of pullbacks. The price tested the previous high of 75.50 without success in November and buyers are consolidating near the trend line in hope of another attempt. A successful break above that resistance could...
EURGBP (1H) - short term bullish bias The British pound strength might be challenged before the end of the week as pullbacks occur across the board. The euro has been gliding along the moving averages in a steady downtrend, but the latest double dip into the RSI's over-sold area has seen a bullish divergence which suggests a loss of momentum in the sell-off, and...
BTCUSD (1H) - short term bullish bias Following yesterday's surge, an overshot RSI signalled an over-extension. The pull back was later met with strong buying interest at the support level of 7100. As the price stabilised we expect the recovery to carry on with 7600 as the next target. should enough bullish momentum build up the faster moving average would cross...
GBPUSD (1H) - short term bullish bias The cable has been surfing on tailwinds after it broke above the critical level of 1.3000. The RSI indicator has entered the over-bought area for the second time in two days and we may expect some consolidation on the way. The directional bias is still skewed to the upside though and there is no sign of reversal or correction...
NZDUSD (1H) - intraday bullish bias The New Zealand dollar extends its gains against the US dollar after a surge earlier this week. Firm support has been established above the psychological level of 0.6500. The pair is rising along the 20-hour and 30-hour moving averages which act as immediate support levels. However, the RSI divergence: higher high in the price...
DAX 30 (1H) - intraday bullish bias The German index saw solid demand in the area between 12900 and 12950. The latest correction could be temporary and a rebound may carry the price to its previous top at 13330. This morning's strong upside momentum followed the bullish MA cross and signals that buyers are fighting back to retake control. We may expect a minor...