The British pound is testing towards the 1.2960 support level against the US dollar after bearish Brexit news caused a sharp price reversal in the GBPUSD pair on Monday. A strong break below the 1.2960 level exposes further intraday downside towards the 1.2900 support level. Sellers are also close to negating the bullish inverted head and shoulders pattern across...
The euro currency is back under strong downside pressure against the US dollar, with price now trading closer to key weekly support. A successful break below the 1.1431 support level is likely to accelerate EURUSD technical selling, breaking the recent bullish double-bottom. A break below the 1.1431 level could also trigger a bearish head and shoulders pattern...
Bitcoin has opened the new trading week largely unchanged, with the world’s number one cryptocurrency continuing to experience record low levels of trading activity. The BTCUSD pair is trading between the $6,450 and $6,300 levels, as price remains range bound in the short-term. A breach of the $6,450 exposes further upside to at least the $6,550 level, while a...
The euro currency has started to recover above the 1.1500 resistance level against the US dollar after sellers failed to move price below the 1.1431 support level, creating a bullish double-bottom pattern. The EURUSD pair has an intraday bullish bias while trading above the 1.1500 level, although buyers need to quickly move price above the 1.1553 level to negate...
The British pound remains under downside pressure against the US dollar, as Brexit uncertainty continues to support short-term sterling selling. The GBPUSD pair is intraday bearish while trading below the 1.3100 level, although caution is warranted as the MACD indicator on the four-hour time frame is starting to recover higher. Sellers need to break the former...
The British pound has broken sharply to the downside against the US dollar, after Brexit negotiations between the UK and EU once again ended in uncertainty. The GBPUSD pair has now moved below the neckline of a bearish head and shoulders pattern, with a downside projection of over two hundred points. Buyers now need to defend the 1.3000 support level or risk...
The euro remains under heavy selling pressure against the greenback in early Friday trade, as the US dollar index climbs back towards the 96.00 resistance level. The EURUSD pair is fast approaching the current monthly low, with a break below the 1.1431 level likely to expose further downside towards the 1.1410 support level. Buyers will likely attempt to defend...
Ethereum continues to erase early week gains, with the second largest cryptocurrency by market capitalization once again trading below the $200.00 support level. The broader cryptocurrency market is also under mild selling pressure on Friday amidst record low volatility. Sellers will likely target the $182.00 support level to accelerate ETHUSD losses, while...
The US dollar is breaking to the upside against the Japanese yen after the FOMC Meeting Minutes showed the Federal Reserve struck a hawkish tone towards future US rate increases. The USDJPY pair is intraday bullish above 112.45 level and supported by a bullish inverted head and shoulders pattern. The Moving Average Convergence Divergence indicator on the four-hour...
The British pound has weakened below the 1.3100 level against the greenback after the US dollar index strengthened to a one-week trading high following the FOMC Meeting Minutes. The GBPUSD pair is likely to weaken further while trading below the 1.3100 level. Buyers need to move price above the 1.3155 resistance level to change the intraday bias, while sellers...
Bitcoin has once again moved into consolidation mode, as the world’s number one cryptocurrency experiences record low volatility. The BTCUSD pair is trapped between the $6,450 and $6,330 levels, with the MACD indicator currently flat across the lower time frames. Intraday buyers and sellers will likely attempt to trade within the current narrow trading band until...
The US dollar is once again correcting higher against the Japanese yen currency, as market sentiment continues to improve on Wednesday. The USDJPY is testing towards the neckline of a bullish inverted head and shoulders pattern, which could potentially take the pair above the 113.00 level. The release of the FOMC Meeting Minutes later today is likely to be the key...
The LTCUSD pair is back under short-term selling pressure after the seventh largest cryptocurrency briefly recovered above the $55.00 resistance level. The LTCUSD pair is intraday bearish while trading below the $52.00 level, which coincides with strong trendline resistance. In the medium-term, a large bearish head and shoulders pattern remains below the $48.00...
The British pound is trading back under the 1.3200 level against the US dollar after buyers lost upside momentum around the 1.3236 level on Tuesday. Overall, a bullish cup and handle pattern could be forming on the GBPUSD pair, with a sizeable upside projection. Traders now await the release of the key CPI and PPI inflation data from the United Kingdom economy...
Ethereum is back under selling pressure below the $200.00 level, after briefly spike higher alongside the broader cryptocurrency market on Monday. The ETHUSD pair is at risk of slipping lower towards the $179.00 support level while trading below the $200.00 level. Buyers will need to move price back above the $240.00 level to regain short-term control of...
The euro is trading back towards Monday’s breakout region against the US dollar, after being technically rejected from the 1.1600 level. The EURUSD pair is only intraday bullish while trading above the 1.1570 level, buyers are also at risk of losing bullish momentum if they cannot break the 1.1600 level today. Sellers will likely target the 1.1553 level if the...
The British pound trades close to key intraday resistance against the US dollar, ahead of a raft of important economic data from the United Kingdom economy this morning. Buyers need to hold price above the 1.3155 resistance level to regain short-term control of the GBPUSD pair, while sellers will look to breach the 1.3100 support level to accelerate earlier...
Bitcoin selling pressure is starting to decrease in early week trade, with the BTCUSD pair consolidating inside an ascending triangle pattern. Bitcoin is fairing-well compared to other cryptocurrencies, as the broader market remains under downside pressure. Buyers will look to break the $6,200 resistance level, while sellers will attempt to breach the $6,120...