The British pound is coming back under selling pressure against the US dollar after finding strong technical resistance from the 1.3245 level on Monday. If GBPUSD sellers can breach the 1.3100 support level, the key 1.3000 level may once again come into focus. Brexit news and moves in the US bond market are currently the main intraday drivers for the GBPUSD...
The US dollar is once again trading testing the 110.00 level against the Japanese yen as global equity markets come under downside pressure. The USDJPY pair has a strong bearish intraday bias while trading below the 110.30 resistance level. The 109.10 level now offers the strongest form of support below the pairs former weekly trading low. The USDJPY pair is...
The British pound has opened the new trading week slightly lower against the US dollar as news reports surface that British PM Theresa May is coming under pressure to resign. The GBPUSD pair only has a weekly bearish bias while trading under the 1.3100 level, with critical technical support, found at the 1.2970 level. If bulls move price above the 1.3200 level,...
The euro currency has started the new trading week under pressure against the US dollar as fears grow that the German economy could be headed into a recession. Bearish pressure is likely to heighten while price trades below the 1.1290 level, although sellers need to break the 1.1175 level to increases selling pressures. Traders now await the release of key IFO...
Ethereum is struggling to find direction in early Monday trading, with the second largest cryptocurrency trapped in its narrowest four-week trading range in over six months. The Ichimoku cloud on the daily time frame shows that critical support is found at the $124.00 level. Above the current monthly trading high, the Kinjin-sen line offers breakout resistance...
The euro currency is losing ground against the greenback on Friday, following a strong technical reversal in the US dollar index. The EURUSD pair has a bearish intraday bias while trading below the 1.1360 level, whilst the 1.1400 level is former key support now turned resistance. Sellers will likely target the 1.1290 level if price continues to trade beneath the...
The British pound is under pressure against the US dollar as the United Kingdom still faces the prospect of leaving the EU without a deal in just seven days time. If the GBPUSD pair once again falls below the 1.3100 support level, the bearish sentiment will increase. Bulls now need to move price above the 1.3200 resistance level in order to stabilize the GBPUSD...
Litecoin is testing interim support on Friday, as the fourth largest cryptocurrency struggles to make gains above the $60.00 resistance level. Bearish price divergence is also building on the Momentum and MACD indicators on the four-hour time frame. A sustained break under the $53.00 support level should accelerate technical selling back towards the important...
The US dollar is under increasing downside pressure against the Japanese yen currency following yesterday’s FOMC interest rate decision. A bearish triple-top pattern formation is present, while price has also convincingly broken outside of the rising price channel on the four-hour time frame. The 110.40 and 109.80 levels offer bearish weekly targets while the...
The euro has soared higher against the US dollar after the US FOMC Dot Plot showed that the central bank does not expect to hike US interest rates again this year. The EURUSD pair has a strong intraday bullish bias while trading above the 1.1400 level, key weekly resistance is now found at the 1.1500 level. Only a sustained move under the 1.1360 support level can...
Bitcoin is testing above the $4,000 resistance level in early Thursday trade, with the number one cryptocurrency confined to its smallest two-week trading range since October 2018. Despite the narrow trading ranges, the BTCUSD pair still retains a bullish bias while trading above the symmetrical triangle pattern on the four-hour time frame. Only a sustained move...
The US dollar has recovered higher against the Japanese yen currency after sellers failed to hold price below key trendline support from the rising price channel on the four-hour time frame. Bulls need to break above the 111.80 level to negate a potential triple top pattern formation and push price above the 112.15 resistance level. Sellers will have to force the...
The euro is struggling to break above the key 1.1360 resistance level against the US dollar on Wednesday, as traders await the FOMC monetary policy decision later today. The EURUSD pair may test back towards the 1.1290 level if bulls fail to break the 1.1360 level. A strong advance above the 1.1360 level will likely provoke buying towards the 1.1400 level, with...
Ethereum is edging closer to major trendline resistance on Wednesday as short-term bulls continue to retain control of the second largest cryptocurrency. The ETHUSD pair has now broken above the Ichimoku cloud on the four-hour time frame, with the $145.00 level the strongest form of resistance above. If bulls can break above triangle resistance, the overall...
Bitcoin has performed a bullish breakout above a long-term triangle pattern on the daily time frame, with the number one cryptocurrency test the $4,000 resistance level. The BTCUSD pair had been trapped inside the symmetrical triangle pattern since last December. The overall projection for the upside breakout would take the BTCUSD towards the $5,200 resistance...
The euro as started the new trading week with a renewed bid-tone against the US dollar, with the pair trading close to the best levels of the month so far. If bulls can keep price above the 1.1325 level the next key intraday resistance level is found at the 1.1360 level. If the EURUSD pair falls below the 1.1325 level, sellers may force a technical test of major...
The British pound is trading close to the 1.3300 level against the US dollar in early week trade as the greenback comes under pressure across the board. The GBPUSD pair has a strong intraday bullish bias while trading above the 1.3240 support level. Further gains above the 1.3300 level may lead to an eventual technical test of the current yearly trading high, at...
British pound volatility surges as Brexit uncertainty grips currency markets Brexit volatility The British pound became increasingly volatile on the foreign exchange market this week, as UK lawmakers took part in a series of crucial Brexit votes in UK Parliament. British Prime Minter Theresa May once again failed to pass her Brexit bill through UK Parliament...