The US dollar is holding above key weekly technical support against the Japanese yen currency, with the earlier Bank of Japan policy meeting having only a limited effect on the pair. Buyers still retain intraday control of the USDJPY pair and are likely to target a bullish weekly price close above the 112.00 level. The MACD indicator on the four-hour time frame is...
Litecoin continues to trade around the best levels of the year, with the LTCUSD pair well-supported on any technical pullbacks. The fourth largest cryptocurrency by market capitalization holds a strong intraday bullish bias while trading above the $54.00 level. The $51.80 level is minor technical support, while the $42.00 level offers critical weekly support for...
The British pound continues to firm above the 1.3200 level against the US dollar, with the volatile currency pair still enjoying strong dip-buying demand. GBPUSD bulls have been struggling to hold price above the 1.3300 resistance level this week. The 1.3300 level is critically important, as it represents the neckline of a bullish inverted head and shoulder...
The US dollar is advancing higher against the Japanese yen on Thursday, with the pair breaking range and moving towards its weekly pivot point. Further intraday gains in the USDJPY pair are expected if bulls can hold price trades above the pivotal 111.60 level. The overall upside objective of the rising price channel on the four-hour time frame is currently...
The British pound has moved to a fresh 2019 trading high against the US dollar after UK Parliament voted that a Brexit no-deal scenario should be ruled out. The GBPUSD pair has moved back under the 1.3300 level but still retains an intraday bullish bias while trading above the 1.3100 level. Traders should note that buyers have control of price-action, with the...
Bitcoin continues to trade around key weekly resistance, with the number one cryptocurrency by market capitalization moving closer to a major technical breakout. The BTCUSD pair has been trapped inside the triangle pattern for all of this year, with a bullish breakout likely to encourage strong technical buying. If sellers move price back under the $3,800 level,...
GDP AND CPI During the upcoming trading week the United States economy is heavily in focus, with the world’s largest economy releasing a slew of high impacting data points, including Retail Sales, CPI, PPI, Durable Goods, Housing and Consumer Confidence data. The British pound is likely to remain volatile this week as we see another key Brexit vote in UK...
The British pound has opened the new trading week under further downside against the US dollar, as fear of a hard-Brexit scenario increase. The GBPUSD pair has broken below the psychological 1.3000 level and is trading close to the neckline of a large head and shoulders pattern on the four-hour time frame. The overall target for the bearish head and shoulders...
The euro currency is attempting to recover higher against the US dollar in early Monday trade, with the pair testing above key neckline resistance. If short-term buyers take back control of price-action above the 1.1230 level, the EURUSD pair could correct back towards the 1.1290 level. The MACD indicator on the four-hour time frame is also attempting to correct...
Bitcoin is moving closer to key trendline resistance in early-week trading, with the number one cryptocurrency pressing against the $3,900 level. If bulls can edge price above this key technical area, the BTCUSD pair could easily advance towards the $4,200 and $4,400 resistance levels. Should we see key upside resistance holding, the BTCUSD pair will likely move...
The British pound has turned short-term bearish against the US dollar, with the pair falling below major weekly technical support. If GBPUSD sellers maintain price below the 1.3100 level, the pair could continue to weaken towards the 1.2955 level. The MACD indicator on the daily time frame is turning lower and is signaling that downside selling pressure is...
The euro has fallen sharply lower against the US dollar after ECB President Mario Draghi lowered eurozone growth forecasts for the rest of 2019. The EURUSD pair tumbled to a multi-year trading low, with the 1.1120 level the next key support zone to watch below the 1.1200 level. The EURUSD is likely to remain under extreme selling pressure while trading below the...
Ethereum is attempting to recover higher, after the second largest cryptocurrency found strong technical support from the $120.00 level earlier this week. The ETHUSD pair is awaiting a directional breakout, as price remains trapped within a large symmetrical triangle pattern on the four-hour time frame. Traders should watch for a sustained breakout from the...
The US dollar is under slight downside pressure against the Japanese yen on Thursday, with sellers testing towards the pivotal 111.60 level. If USDJPY sellers hold price below the 111.60 level, further intraday losses towards the 111.10 level are expected. Traders should note that the recent move lower has invalidated the bullish inverted head and shoulders...
The British pound is continuing to stage a recovery against the US dollar in early Thursday trade with the pair edging closer to the 1.3200 resistance level. If GBPUSD buyers can force price above the 1.3200 level, we should expect a test of the pivotal 1.3230 level. Technical indicators on the four-hour time frame suggest that the intraday recovery is gathering...
Bitcoin is attempting to stage an upside recovery on Thursday, after key trendline support on the daily time frame held firm earlier this week. If BTCUSD bulls can move price above the February trading high, the number one cryptocurrency is likely to test its 100-day moving average, at $4,200. The daily time frame also shows that the Stochastic and RSI indicators...
Litecoin has moved sharply higher on Wednesday, with the fifth largest cryptocurrency moving to its highest trading level since November last year. If bulls can break above the $54.00 resistance level, the LTCUSD pair could rally towards the $65.00 region. Traders should note that a large inverted head and shoulders pattern is building on the four-hour time...
The British pound is attempting to move higher against the US dollar in early Wednesday trade after finding strong dip-buying demand from the 1.3100 support level. The GBPUSD pair may move back towards the top-end of its recent trading range if bulls continue to defend the 1.3100 level. Traders should note that the bullish inverted head and shoulders pattern still...