GBPUSD (1H) - intraday bullish bias The pound sterling is trading sideways between major levels of 1.2820 and 1.2920. Market's indecision is likely to last until a breakout shows the next direction. As the RSI indicator hovered over the over-sold area, the price found enough buying interest to pull back. If 1.2820 holds well, we would expect a short-term rally...
Gold (1H) - short term bullish bias The precious metal has reached the lower end of 1450s in hope of finding buyers to keep its head up. The demand area around 1450 is critical to maintain what looks like an extended consolidation instead of a bearish reversal. The bullish RSI divergence is a sign that selling momentum has decreased, which could give bullion a...
EURUSD (1H) - intraday bearish bias The euro came to a halt around the 20-hour moving average after overwhelming selling interests pushed the rate 20 pips lower this morning. We would expect more sellers to join the ranks before the price tests the major floor of 1.0990. The downtrend will remain intact as long as the price stays below MAs. In the meantime, the...
GBPJPY (1H) - short term bearish bias On the daily chart, the pair has been in a rectangle consolidation pattern for the past month. As the price moves sideways near the 30-day moving average, one can only expect a breakout this week. Would it be bullish continuation? The hourly chart puts the intraday action in a downbeat mood though. The previous high of 140.50...
USDSEK (1H) - short term bearish bias Last Wednesday's rebound turned out to be false hope for those who tried to buy the dip. The pair came under pressure at the 30-day moving average and could not sustain the lift. As the greenback sank below the major support of 9.6060 it became clear that sellers were still holding the reins. This morning's bearish impulse...
USDCAD (1H) - short term bearish bias The US dollar came to a halt at the previous daily high of 1.3330 and is likely to pull back toward the moving averages. On the hourly chart, yesterday's engulfing red candle took a lot of longs out of action. The bearish MA cross is a strong sign that sentiment has turned south and we would expect fresh sellers to put...
EURGBP (1H) - short term bullish bias The pound sterling is definitely feeling the pain across the board for lack of optimistic catalysts. The euro met robust buying interest around the daily support area of 0.8530 and we may expect this to be the base for a prolonged rebound. Sentiment turned upbeat after the price closed above the major resistance of 0.8570....
GBPUSD (1H) - intraday bearish bias The cable is trading in range between 1.2780 and 1.3000 after the October rally. We expect the price to stay sideways near the 30-day moving average. This provides opportunities for range-bound trading for short-term participants. On the hourly chart, as the price failed to rally above the key resistance of 1.2970, that supply...
USDNOK (1H) - short term bearish bias Following its failure to rally above the major resistance of 9.2100, the US dollar went into a sell-off. The overshot RSI was a clear sign of an ever-extension. As buyers struggled to defend the support area of 9.1200 sentiment has turned downbeat as longs bailed out of their positions. The bearish MA cross is a confirmation...
EURUSD (1H) - short term bullish bias The support area around 1.1050 saw strong demand for the euro after it failed to break above the previous high of 1.1090. Buyers have renewed their push in hope of getting rid of the last roadblock. We may expect the immediate support level of 1.1070 and the moving averages to sustain the upbeat sentiment. The neutral RSI...
EURAUD - intraday bullish bias The demand zone of 1.6210 has established itself as a strong support after the price spent 24 hours there to gather more buying interests. The euro gained more momentum as it achieved a new high above the psychological level of 1.6300. The bullish MA cross is a confirmation that the uptrend is still intact and more buyers could be...
USDCHF (1H) - short term bullish bias The sell-off on 18 November might have made some buyers nervous but the greenback actually found enough support near the demand area of 0.9870 to make a comeback. As the pair rallied above the immediate resistance of 0.9910, one may expect the US dollar to have gained the upper hand. The latest consolidation is a sign that...
AUDCAD (1H) - short term bullish bias The Canadian dollar is definitely retreating across the board after yesterday's sell-off. The pair bounced off the 61.8% (0.8980) Fibonacci retracement level of the previous rally on the daily chart. The bullish MA cross on the hourly chart is the confirmation that the price has reversed its course to the upside. As the...
EURCAD (D) - medium term bullish bias The euro seems to have reached the bottom after three attempts at 1.4440 - the low from September 2017. The bullish RSI divergence first signalled a deceleration in the downward momentum. Then the break above 1.4680 gave buyers confidence to get in on pullback at the 61.8% (1.4555) Fibonacci retracement level. As the price...
WTI (1H) - short term bearish bias The US oil's sideways consolidation have come to an end with a breakout on the downside. The lower band of the channel failed to keep the price in check as buyers started to bail out. Fresh sellers are likely to join in and weigh in after a bearish MA cross and a short-lived rebound. We may expect the price to test the previous...
NZDCAD (D) - medium term bullish bias The bullish RSI divergence at the end of September was a sign that the downtrend had over-extended. After a four-week-long consolidation, the kiwi lifted offers near the key resistance level of 0.8430. The bullish MA cross was a solid confirmation that buyers have taken control of the price action. The initial impulse found...
EURCHF (1H) - short term bullish bias The euro is currently in a corrective phase of the downtrend from May 2018. The most recent bounce was initiated from the demand zone of 1.0870 and the price may test the major resistance of 1.1050 in the coming weeks. On the hourly chart, the bullish RSI divergence near the daily support was a strong indication that sellers...
AUDCHF (1H) - short term bullish bias The Australian dollar saw strong buying interest near the daily support level of 0.6690, and we expect the bullish correction to last for a few days. On the hourly chart, the classic RSI divergence suggests a slowdown on the sell side, a prerequisite for a rebound. As the price action moves above 0.6730, the 20-hour moving...