The euro is moving higher against the US dollar on Friday, following a clear technical break above the 1.1430 resistance level. EURUSD traders now need to hold price above the pairs one-hundred day moving average, for further bullish advancement towards the 1.1500 level. A loss of the 1.1430 level will likely provoke a technical test of the 1.1410 support...
The US dollar is attempting to move higher against the Japanese yen currency after the pair staged a strong recovery above the 111.00 level on Wednesday. US equity markets made a strong recovery yesterday, which helped to boost overall risk-sentiment in financial markets. The MACD indicator on the four-hour time frame is starting to trend higher, pointing to...
The British pound has given back early week gains against the US dollar, following a strong technical rejection from the 1.2700 level on Wednesday. The GBPUSD pair has a strong bearish bias while trading below the 1.2660 level and may weaken towards the 1.2600 support level. It is also worth noting that price is once again trading below the GBPUSD pairs...
Bitcoin is back under selling pressure below the $4,000 level in early Thursday trade after buyers failed to break above the important $4,400 resistance. The recent move higher may be classed as a technical correction rather than a change in the short-term trend. The $3,600 level is now the foremost support level to watch if the BTCUSD pair declines below its...
Ethereum is attempting to recover higher in early Wednesday trading, after finding strong weekly technical resistance from the $158.00 level. The ETHUSD pair still retains an intraday bullish bias while trading above the $126.00 level, which represents neckline support from an inverse head and shoulders pattern. If buyers can surpass the $142.00 level, a further...
The British pound is gaining bullish momentum against the US dollar on Wednesday, following a sustained break above the 1.2700 resistance level. The GBPUSD pair is also trading above its key one-hundred period moving average on the four-hour time frame, which has provided strong technical resistance since November. The former weekly trading high, at 1.2738,...
The US dollar remains under downside pressure against the Japanese yen on Wednesday, following Monday’s steep drop towards the 110.26 support level. The sentiment surrounding the USDJPY pair is extremely bearish while price trades below the 110.80 level. The 109.76 support level is the most important technical level to watch if the 110.00 support level is...
The British pound remains under downside pressure against the greenback on Monday, as buyers continue to struggle to break the 1.2700 resistance level. A clear break from the 1.2600 to 1.2700 price range is currently needed for a near-term directional bias to be established. The MACD indicator on the daily time frame is signalling that a short-term recovery is...
The euro is back under selling pressure against the US dollar on Monday, following Friday’s strong reversal lower from the 1.1470 level. Sellers now need to force price below the 1.1360 support level, in order to encourage further technical selling in the EURUSD pair. Failure to move price below key support may prompt a bullish recovery back towards the 1.1430...
Ethereum has opened the new trading week strongly, with the ETHUSD pair the strongest performing cryptocurrency amongst the top twenty cryptocurrencies by market capitalization. The recent break above the $126.00 level has triggered a bullish inverted head and shoulders pattern, with an upside projection extending well above the $150.00 level. Sellers need to move...
The US dollar remains under downside pressure against the Japanese yen, with the risk-sensitive pair trading at its weakest level since October this year. The USDJPY pair may have reached its short-term bearish objective, as the latest decline extended below the 111.00 level. Technically, the MACD and RSI indicators on the four-hour time frame have reached...
The euro is correcting lower against the US dollar after the recent rally higher found strong technical resistance from the pairs 100-day moving average. Intraday buyers need to defend the important 1.1430 support level in order to keep short-term bullish momentum intact. A breach of the 1.1430 support level will likely provoke technical selling towards at least...
The recent strong move higher in Bitcoin is approaching critical resistance, with the BTCUSD pair currently holding firmly above the $4,000 level. Buyers now need to break the $4,400 resistance level in order to trigger a large bullish inverted head and shoulders pattern. If price moves back under the $4,000 support level, the BTCUSD pair could revisit the...
Litecoin has moved back under the $30.00 level after finding strong technical resistance from the $31.50 level on Wednesday. Before correcting under the $30.00 handle, the LTCUSD pair had gained close to thirty per cent in market capitalization since opening the new trading week around the $24.40 level. The MACD indicator on the four-hour time is starting to...
The euro currency is starting to lose bullish momentum against the US dollar after another strong technical failure above the 1.1400 level. The EURUSD pair is coming under pressure after the Federal Reserve increased interest rates and committed to further gradual rate hikes next year. A strong move below the 1.1360 support level is now needed to accelerate...
The British pound is weakening towards the 1.2600 level against the US dollar after the Federal Reserve hiked interest rates on Wednesday. The GBPUSD pair is likely to come under further technical selling pressure if price slips below the 1.2600 support level. Overall, increasing interest rate differentials between the US and the UK and Brexit concerns are likely...
The British pound is holding above the important 1.2660 level against the US dollar, ahead of the release of important inflation data from the United Kingdom economy this morning. The recent rally higher was once again capped by the GBPUSD pairs 100-period moving average on the four-hour time frame. If GBPUSD buyers can break through this key resistance area,...
The euro currency remains well-bid against the US dollar in early Wednesday trade, as traders continue to buy any dips-lower in the pair. The 1.1400 resistance level remains the key technical area to watch today, with a break above the 1.1400 level likely to accelerate technical buying towards the EURUSD pairs 100-day moving average. The 1.1360 level is the key...