The US dollar has fallen towards critical support against the Japanese yen, as worsening trade tensions between the US and China help support buying in the yen currency. The USDJPY pair risks erasing its recent gains if price breaks below the key 111.37 level. Financial markets have largely looked past yesterday’s FOMC meeting, as traders price-in two more rate...
The euro continues to drift lower against the US dollar, with the greenback gaining ground against most major currencies after Wednesday FOMC meeting. The EURUSD pair is also slipping closer to lower-end of the large symmetrical triangle pattern that price is currently trapped within. Sellers will try to break below the 1.1610 support level, while buyers need to...
The British pound continues to trade towards the 1.3100 level against the US Dollar, after being sold aggressively from the 1.3170 region on Tuesday. The GBPUSD pair looks to be forming a bearish head and shoulder pattern, with a downside projection of around one-hundred and thirty pips. Sellers will target the head and shoulders neckline around the 1.3070 level,...
Ethereum continues to trade sharply lower on Wednesday, with the second largest crypto by market capitalisation facing a technical meltdown below the $395 support level. The ETHUSD pair started to weaken after slipping below the $440 level on Tuesday, as the broader cryptocurrency started to decline. Heavy losses are expected if the ETHUSD pair falls below the...
The euro currency is starting to weaken below the 1.1700 level against the US dollar, after a false technical breakout above the well-defined symmetrical triangle pattern on Tuesday. EURUSD traders need to see a clear-break of the triangle pattern to encourage a much needed directional breakout in the pair. Buyers need to break the 1.1730 resistance level, while...
Litecoin, the sixth largest cryptocurrency by market capitalisation continues to drift lower alongside the broader digital currency market on Tuesday. The LTCUSD pair is likely to continue to weaken further intraday while trading below the key $80 level. The LTCUSD pair also looks to be creating a bearish head and shoulders pattern, while the MACD indicator is...
The euro continues to hold above the 1.1700 level against the US dollar, following a sharp decline in the value of the US dollar on Monday. The EURUSD pair currently retains a bullish intraday bias while price trades above the key 1.1681 technical level. Traders now look to Jobs and Retail Sales data from the German economy and the release of US Core PCE data...
The British pound trades back towards the 1.3100 level against the US Dollar, after traders sold the GBPUSD pair from the 1.3150 level on Monday. GBPUSD is likely to remain under selling pressure while trading below the 1.3177 level, as it marks a pivotal technical area bulls must break. Sellers will once again attempt to target sustained losses below the...
The British pound continues to trade on the back-foot against the US dollar on Monday, with price currently trapped around the 1.3100 level. The British pound has also received more bearish Brexit news this morning, with the European Court of Justice being given the final say in a number of important Brexit issues. Sellers will try to target a sustained break...
The euro has opened the new trading-week around the key 1.1650 level against the US dollar, as traders await a breakout move in the greenback. Central bank action this week should provide the much needed directional catalyst for the EURUSD pair. Sellers will continue to target a strong break below the 1.1600 level, while buyers will try to move price above the...
Ethereum continues to trade to the downside in early-week trading, with the ETHUSD pair trapped between the $458 to $440 price range. Over the coming trading sessions, we may see a strong directional breakout occur if traders clear the current narrow-ranges. Sellers will look to push price below the $440 support level, while buyers will aim to move price above the...
Bitcoin has fallen below the $8,000 level, as traders book profits after the recent upside rally stalled just under the $8,500 resistance level. The RSI and MACD indicators are also starting to move lower as the BTC/USD pair unwinds from overbought trading conditions. Buyers will now try to recover price back above the $8,100 level, while sellers will likely to...
The euro has erased weekly gains against the US dollar, after ECB President Mario Draghi confirmed that the European Central Bank will leave eurozone rates unchanged until at least September 2019. The EURUSD pair is likely to weaken even further if price continues to trade below the key 1.1650 support level. Sellers will likely target a strong break below the...
The British pound has fallen sharply lower against the US dollar, after Chief EU Negotiator Michel Barnier rejected a key part of the United Kingdom’s Brexit trade proposal. The GBPUSD pair is now testing key support and is likely to weaken even further if price falls below the 1.3101 level. Sellers will try to target the 1.3000 support level, while buyers will...
The British pound has continued to make progress higher against the greenback on Thursday, following a broad-based selloff in the U.S. Dollar Index. Sterling retains a strong intraday bullish bias while trading above the 1.3177 technical level. Buyers will look for further upside towards the 1.3245 and 1.3300 levels, while sellers will look to push price back...
The euro currency trades higher against the US dollar on Thursday, following a positive outcome from US President Donald Trump’s meeting with EU trade negotiator Jean-Claude-Juncker. The EURUSD pair now trades with a bullish intraday bias while price continues to hold above the 1.1724 technical level. Buyers will now attempt to move the EURUSD pair towards the...
Bitcoin is starting to correct lower on Thursday, after finding strong technical resistance from just below the key $8,500 level. The BTC/USD pair has also reached overbought trading conditions on the MACD and RSI indicators, across the four-hour time frame. Sellers will now try to push price back below the $8,000 support level, while buyers will once again look...
Litecoin, the sixth largest cryptocurrency by market capitalisation has started to move away from the $88 level, after posting strong double-digit gains in early week trading. The LTC/USD pair only retains its recent bullish bias while price trades above the key $85 support level. Buyers will likely target the $92 resistance level, while sellers will look to test...