The NZD/USD exchange rate has been trading in a junior descending channel pattern since the middle of January. The New Zealand Dollar re-tested the upper boundary of the channel pattern on Friday. The 50-hour simple moving average pressured the currency pair further south during Monday’s trading session. Meanwhile, technical indicators suggest that the bearish...
The British Pound has been appreciating against the Australian Dollar since the middle of January. The exchange rate has gained about 4.96% of its values since January 15. However, after hitting the upper boundary of an ascending channel pattern at 1.8522, the currency pair made a U-turn south. It is likely that the GBP/AUD currency exchange rate edges lower...
During the previous trading session, the yellow metal appreciated against the US Dollar by 1874 pips or 1.46%. Note, the monthly R1 stopped the surge at 1,304.27. On Monday morning, the exchange currency rate was trading at 1,300.00. In regards to the near-term future, most likely, the gold will be trading sideways to stay at the 1,295.00 level during the trading...
During the previous trading session, the currency exchange rate passed through the support level of the 200-hour simple moving average to end the trading day at 109.25. On Monday morning, the rate was located below the 200-hour SMA at the 109.33 mark. In regards to the near-term future, most likely, the rate will trade sideways to stay near the weekly S1 at...
During the previous trading session, the currency exchange rate surged to the 50.00% Fibonacci retracement level at 1.3163, breaking the previously drawn pattern line at the 1.3100 mark. On Monday morning, the rate was located above the 50.00% Fibo at the 1.3171 mark. In regards to the near-term future, most likely, the rate will be trading sideways to stay...
During Friday’s trading session, the European Single Currency appreciated against the US Dollar by 97 pips or 0.86%, breaking most of the technical indicators. On Monday morning, the currency exchange rate was located below the monthly pivot point at the 1.1402 mark. In regards to the near-term future, most likely, the rate will trade towards the weekly pivot...
The British Pound has continued to appreciate in a narrow ascending channel against the Japanese Yen. The currency pair broke out through the upper boundary of a medium-term descending channel during last week’s trading session. The 200-hour simple moving average was providing support for the exchange rate at 140.79 during the morning hours of Monday’s trading...
The recovery caused by production cuts continues. Remember that it was initiated by the countries that produce oil and rely on it. For example, Russia starts talks and cuts when oil goes below 44.00 USD. Why? Because on that price they have based their 2019 fiscal budget. These cases are common all over OPEC and other countries.
The Eurozone single currency has depreciated about 1.54% against the Australian Dollar since January 8. The exchange rate was pressured south by the 50-hour simple moving average, which was providing resistance for the pair at 1.6200. The EUR/AUD currency pair breached the lower boundary of an ascending channel at 1.5902 during the Asian session on Tuesday. Given...
The single European currency has been trading sideways against the Canadian Dollar since January 8. The 200-hour simple moving average was providing resistance at 1.5266. The exchange rate is currently trading near the bottom border of an ascending channel at 1.5232. If the support level formed by the lower boundary of the channel pattern holds, the currency...
Since Friday’s trading session, the yellow metal depreciated against the US Dollar by 831 pips or 0.64% to place the rate at the 1,282.50 mark. In regards to the near-term future, the gold will trade towards the 1,286.00 level, where it could be retraced by the simple moving averages to stay at the 1,284.00 level. On the other hand, during the trading session,...
During the previous trading session, the rate was retraced by the upper boundary of the descending dominant pattern line at 109.90. On Monday morning, the US Dollar was trading at the 50.00% Fibo at the109.58 mark. In regards to the near-term future, most likely, the rate will be trading at the 109.40 level during the day. In addition, It is expected that the...
During the previous trading session, the British Pound depreciated against the US Dollar, breaking most of the technical indicators. On Monday morning, the currency exchange rate was trading above the 62.30% Fibo at the 1.2867 mark. In regards to the near-term future, the rate will be retraced by the 55-hour simple moving average and the monthly R1 at 1.2911 to...
During Friday’s trading session, the currency exchange rate depreciated to the 1.1340 level. However, on Monday morning, the European Single Currency recovered against the US Dollar to the 1.1381 mark. In regards to the near-term future, most likely, the 55-hour and the 100-hour simple moving averages will continue retracing the rate to push the European Single...
The Australian Dollar has depreciated about 13.96% of its values against the Japanese Yen. The currency pair reached a historically low level at 70.7728 during Thursday’s trading session. Presently, the exchange rate is gradually regaining his lost positions and aiming for the upper boundary of a descending channel pattern at 79.4973. However, the 50-hour simple...
The light crude oil has been appreciating in an ascending channel pattern against the US Dollar since the end of December. The commodity bounced off from the bottom border of the channel pattern at 42.44 on December 26 and followed by 19% gained. The LIGHT.CMD/USD breached the 200-hour simple moving average at 49.78 during the end of yesterday’s trading session....
Bullish sentiment has been dominating the BRENT.CMD/USD since the end of December. The commodity reversed from the lower boundary of a dominant descending channel pattern at 50.31 on December 26 and followed by an upside wave. The Brent crude oil breached the upper boundary of the dominant ascending channel at 58.49 during yesterday’s session. Given that a...
During Monday morning hours, the yellow metal broke through the resistance levels of the 55-hour simple moving average and the 23.60% Fibo to trade at 1,293.44. Most likely, the gold will keep surging towards the upper boundary of the descending pattern line at 1,297.00. Besides, the 23.60% Fibo and the 55-hour SMA will try to support the yellow metal during the...