Trend started the week parity, now continues to decline. And Elliot is on his way to completion. The current target of the chart is 1.6215.
Despite a bullish signal by the key technical indicator, the NZD/USD pair remains below adjacent resistances while it trades near 0.6440 during early Thursday.
The AUD/USD pair gained traction on the back of upbeat labour market data from Australia during the Asian trading hours and rose to a daily high of 0.6790. However, with the latest comments from China on the trade dispute with the US, the AUD came under modest selling pressure and the pair was last seen trading at 0.6770, still adding 0.33% on a daily basis.
The pair, which started with an uptrend to the week, is on the upside on the 4-hour chart. If the chart breaks the "0.9020" level, the target will be "0.9126".
The British pound has initially fallen during the trading session on Monday, but then turned around to rally quite significantly as we had reached the crucial 1.20 level. That is an area that catches a lot of attention, as it is a big figure. At this point, the market looks like we are heading towards the previous consolidation area, which should provide a bit of...
Last week, EUR/USD shot up higher on Monday but then held in a range for the remainder of the week. And is now accelerating the downside after breaking below the 1.1200 handle at the beginning of the week. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, noted the pair’s stance should turn to bullish on a weekly close above 1.1371
The GBP / JPY parity, which started the week with rising, is supported at 126.45 level. It is possible for the chart to rise to 128.00, again to 125.50.
The Euro has rallied during the trading session on Friday, breaking above the 1.11 handle early during the day. We did of course have the jobs figure come out of the United States and it was exactly as expected at 164,000 jobs added. Ultimately, this is a market that has been beaten down, and has been paying attention to the 1.11 handle in the past. Ultimately,...
The USD/CHF pair jumped to 0.9927, the highest level since Monday after the announcement. Shortly afterwards retreat erasing most of the gains and moved back toward 0.9900. As of writing, trades at 0.9910, marginally higher for the day. The pair still shows a bullish bias that will likely prevail as long as it remains on top of 0.9890. On the upside, the...
The "CYPHER" Formation completed a strong downtrend to support. If the price does not break down, the target will be "0.8778". Note: The downside of the chart is experienced by the support at 0.8600.
As the day falls, the pair is also receiving significant support and forming a triangular formation. It this formation is expected to break...
The New Zealand Dollar was trading at its highest level of "73,240" last week. Here, with the downward trend of the trend, the graphs began to get saturated. And now your strongest support level is trading. Currently, our 1st target is "72.500" The chart will move to a slightly horizontal trend at this level.
At the moment it is waiting for uncertain progressing graphic breaks. It is seen that the price will not continue for a very long time with the possibility of breaking on both sides. However, the possibility will break up.
The pair, which started the week with a decline, is moving towards the support level. The current target of the graph is "0.6810".
Having witnessed red signals from the Australian economic calendar, a contrast to welcome New Zealand Trade Balance data, the AUD/NZD pair reversed from 21-DMA while currently taking rounds to 1.0430 during early Wednesday.
The Turkish Lira remains on the defensive so far this week, lifting USD/TRY to the 5.70 area although losing some upside impulse soon afterwards.
Based on the Technical Analysis, the graph forms the "CYPHER" Formation. There is strong support and strong trend. Formation of the price may form again, but may fall again.
Starting the week with the rise, the parity, which also received significant support, continues its upward trend. At a possible rise in the price, the target is 0.7120.