The euro currency is under heavy downside pressure against the US dollar on Friday after ECB President Mario Draghi struck a more dovish tone towards the eurozone economy at yesterday’s ECB policy meeting. A clear break below the 1.1300 level exposes the EURUSD pair to further technical selling towards at least the 1.1260 level. A bearish head and shoulders...
Ethereum remains under downside pressure on Friday, amidst declining trading volumes and historically low trading ranges. Until a sustained break from the $110.00 to $125.00 price range occurs, narrowing trading conditions are likely to persist for the second largest cryptocurrency. The $92.00 level is likely to be sellers immediate target if the $110.00 level is...
The euro is starting to move higher against the US dollar in early Thursday trade, ahead of the release of key eurozone PMI manufacturing data later this morning. Weaker than expected PMI data from the French and German economies will likely reverse the EURUSD pairs recent recovery, with the 1.1335 level the key support level to watch. The 1.1410 level is the...
The British pound has surged to its highest trading level against the US dollar since November 2018, after bulls easily broke through the 1.3030 resistance barrier on Wednesday. The GBPUSD pair now trades above its 200-day moving average and faces a key challenge from the 1.3095 resistance level. If bulls can move price above the 1.3095 level, further upside...
Bitcoin is once again testing towards the $3,660 resistance level, after sellers failed to capitalize on the early week drop below the key $3,485 support level. The broader cryptocurrency market enjoyed a decent rally on Wednesday, although the BTCUSD pair added only marginal gains on the day. A break of the $3,300 to $3,960 price range is needed before the next...
The LTCUSD pair is attempting to recover bullish momentum above the $30.00 level on Wednesday after the early week decline found strong support from the $28.00 level. The LTCUSD pair has potentially formed a bullish triple-bottom after seller failed to breach the December trading low. The $32.00 and $35.00 levels offer the strongest forms of resistance on an...
The British pound is trading back above the 1.2930 level against the US dollar on Wednesday, with bulls once again taking control of the pair. Price is creating bullish lower lows, while the MACD indicator on the four-hour time frame is now consistent with price. An eventual test of the rising wedge pattern upper trendline may occur if GBPUSD bulls can break the...
The euro currency is once again trading around the technically important 1.1360 level against the US dollar, after a brief dip towards the 1.1335 support level. The ATR indicator on the four-hour time frame has plummeted to historically low levels, as the EURUSD pairs trading range narrows ahead of Thursday’s ECB meeting. The ATR indicator is a key measure of...
The British pound has recovered early week losses against the US dollar, after UK lawmakers proposed a bill to stop a no-deal Brexit. The GBPUSD pair is probing towards the pivotal 1.2890 level, ahead of the release of important jobs data from the UK economy this morning. Bearish MACD divergence is being created on the four-hour time frame, as price is currently...
The euro currency is trading in an increasingly narrow trading range against the US dollar on Tuesday, as the recent bearish selling momentum starts to ease. Further losses in the EURUSD remain possible, although sellers are struggling to hold price below the 1.1360 level. Traders are also starting to become cautious ahead of Thursday’s key European Central Bank...
Ethereum sellers are struggling to break the $110.00 support level on Tuesday, despite the third largest cryptocurrencies bearish start to the new trading week. The RSI indicator on the four-hour time frame remains close to oversold, while the Stochastic indicator on the mentioned time frame remains inconclusive at present. A clear break from the $110.00 to...
Bitcoin has started the new trading week under selling pressure, with the BTCUSD pair now probing towards the $3,500 support level. The BTCUSD pair has broken below a symmetrical triangle pattern, following days of price consolidation. A clear break below the $3,485 level will likely encourage technical sellers to test towards the important $3,300 support...
The British pound is back under downside pressure against the US dollar in early-week trading, as the recent rally in the pair continues to unravel. The GBPUSD pair is intraday bearish while trading below the pivotal 1.2890 level, with sellers increasingly likely to test the next major support level, at 1.2810. Aside from the chances of a hard-Brexit increasing...
The euro currency remains under pressure against the US dollar on Monday, with the pair trading close to the pivotal 1.1360 support level. A sustained loss of the 1.1360 level will likely provoke an eventual test of the 1.1300 level, which is a historically important level for the EURUSD. Looking to the upside, buyers need to break above the 1.1410 level to build...
Ethereum remains under pressure on Friday, as the third largest cryptocurrency by market capitalization struggles to attract short-term buying interest. The Relative Strength and Momentum indicators on the four-hour time frame are currently neutral, suggesting further price consolidation ahead. Overall, a clear break from the $110.00 to $126.00 levels is needed to...
The British pound has surged towards the 1.3000 level against the US dollar, as traders continue to speculate that the United Kingdom’s departure from the European Union may be delayed. The bullish break above the 1.2930 level further encouraged sterling buyers, with the psychological 1.3000 level now key intraday resistance. The 1.3095 level is the next key...
The US dollar has broken higher against the Japanese yen, amidst fresh hopes that the United States and China may strike a trade deal. The recent bullish move above the USDJPY pairs 100-period moving average on the four-hour time frame is also encouraging technical buying. Overall, a move towards the 110.00 level should be expected while price trade above the...
The British pound is moving back towards the 1.2900 level against the US dollar after British PM Theresa May survived a vote of no-confidence in her leadership in UK Parliament on Wednesday. The GBPUSD pairs one-hundred moving average, at 1.2894, is currently capping rallies and is the strongest resistance area before the 1.2930 level. If buyers fail to hold price...