The US dollar is trading to the downside against the Japanese yen currency on Monday, following a broad-based correction lower in the value of the greenback. Traders should expect the recent weakness in the USD/JPY pair to continue while price trades below the 110.55 resistance level. A much larger bearish head and shoulders pattern may also be forming across...
Bitcoin remains in consolidation mode alongside the broader cryptocurrency market on Friday, with the BTC/USD pair settling back into a trading range between the $6,220 and $6,550 levels. An inverted head and shoulders pattern is now visible across the lower time frames, with an upside projection of around $700.00. However, buying volumes remain weak, and the...
The EURUSD pair continues to press against the 1.1400 resistance level on Friday, as the US dollar index fades away from a thirteen-month trading high. Further upside is still expected in the EURUSD will price continues to trade above the 1.1345 support level. Traders will now take their direction from the eurozone consumer price index, with market expectations...
The US dollar continues to struggle for direction against the Japanese yen on Friday, as financial markets calm after recent fears about the Turkish economy. The USDJPY pair currently trades within a well-defined bear flag pattern which extends from 110.65 to the 111.25 level. Traders should also note that price is also trading inside a much larger bearish head...
Ethereum has bounced back towards the $295.00 level after finding strong technical support from just above the $240.00 level. The ETHUSD pair is expected to continue to move away from extremely oversold trading conditions, the MACD indicator across the four-hour time frame is also turning higher. Buyers will look to break the $295.00 level, while sellers will...
The US dollar has fallen below the 111.00 level against the Japanese yen on Thursday after US equity markets experienced heavy losses over fears of a slowdown in the Chinese economy. Bearish intraday pressure is placed back on the USDJPY pair while price trades below the 111.00 level. Sellers will look to hold price below the 110.55 level, while buyers need to...
The EURUSD pair is starting to move higher on Thursday after sellers failed to break below the key 1.1300 support level yesterday. The 1.1300 support level is important because it was a key technical breakout area for the EURUSD pair during the early part of 2017. Further upside is expected while price trades above the 1.1300 support level, while a loss of...
Litecoin, the seventh largest cryptocurrency by market capitalisation is starting to trade back above the $50.00 level, after suffering double-digit losses on Tuesday. The LTCUSD pair retains a bullish intraday trading bias while holding above the $50.00 level and may correct back towards $70.00 area. The MACD indicator is also starting to turn higher across the...
The British pound has tumbled below the 1.2700 level against the greenback, as Brexit concerns and US dollar strength weigh on sterling. The GBP/USD has also fallen to a fresh 2018 trading low and retains a strong bearish bias while trading below the 1.2722 level. Sellers will likely target the 1.2650 support level while buyers need to stabilise price above the...
The corrective move higher in the EURUSD pair is now appearing over and sellers are targeting the 1.1300 level as the US dollar index soars towards to new 2018 trading highs. A bearish double-top price pattern is also putting further selling pressure on the EURUSD on Wednesday. If the price break below the 1.1300 support level, heavy technical selling is...
Bitcoin is starting to weaken towards the $6,100 level in early Tuesday trade as the entire cryptocurrency market comes under heavy selling pressure. The BTCUSD pair trades close to the neckline of another bearish head and shoulders pattern with a $500.00 downside projection. Traders should expect heavy selling if the $6,050 level is broken and price remains...
The euro currency has moved back towards the 1.1400 level against the greenback on Tuesday, as the US Dollar Index pulls back from the best levels of 2018. The EURUSD pair may correct higher on an intraday basis if price holds above the 1.1410 level. The MACD indicator on the four-hour time frame is also turning higher, suggesting that a corrective move may be...
The British pound continues to consolidate below the 1.2800 level against the US dollar on Tuesday, ahead of the release of key UK Employment and Wage data. The GBPUSD pair has been contained to smaller than usual trading ranges between the 1.2720 to 1.2790 levels since Monday. A break below the 1.2720 level may provoke selling to 1.2650, while a move above...
Ethereum has moved sharply-lower on Monday, with the second most popular crypto losing a further fifteen percent of its value since Friday. ETHUSD is now approaching oversold trading conditions after reaching the bearish head and shoulders pattern downside projection, close to the $300.00 level. Furthermore, the MACD and RSI indicators across the four-hour...
The euro has tumbled to a fresh monthly low against the US dollar on Monday, as fears over emerging market contagion cause traders to sell the single currency. The EURUSD pair is likely to remain under heavy intraday selling pressure while trading below the 1.1420 level. Sellers will now look to break below the 1.1310 support level, while buyers need to stabilise...
The US dollar is falling towards the 110.00 level against the Japanese yen on Monday, after sellers broke the bearish head and shoulders pattern neckline during the Asian session. The USDJPY pair is coming under pressure as traders move into the safety of the Japanese yen currency, amidst concerns about financial contagion from Turkey. Bearish intraday pressure...
Litecoin, the seventh largest cryptocurrency by market capitalisation continues to trade lower as the large $20.00 head and shoulders pattern continues to unfold. The LTCUSD pair is likely to continue to weaken further on an intraday basis while price trades below the $63.00 resistance level. The overall downside target for the bearish head and shoulders...