|Day's range||0.999 - 1.002|
|52-week range||0.9934 - 1.0883|
Should prices manage to defy the triangle pattern by conquering 1.1770 resistance, the 1.1835-40 horizontal-region may gain buyers’ attention. GBPUSD is another major which recently bounced off the support and is currently rising to confront near-term important resistance. Herein, the 1.3090-1.3100 is crucial support whereas two-month old descending trend-line at 1.3310 acts as resistance.
One of the most technical setups can be seen on the USDCHF, where Friday ended with a bearish shooting star pattern. The place, where this pattern is present is not random as it is a long-term horizontal resistance (orange). In the smaller time frames, that shooting star is additionally shaped like the head and shoulders formation, which strengtheners the sell signal.
Correction on the Gold was not the deepest on the record. Price managed to use the weekly hammer for an upswing but it was not spectacular. Yesterday’s candle is a shooting star and price came back below the 1260 USD/oz support and broke the lower line of the wedge. Those signs are bearish.
While receding political pressure at Germany helped the EURUSD witness its latest recovery, short-term symmetrical-triangle is likely to confine the pair’s immediate moves. As a result, the 1.1680 can become adjacent resistance for traders to watch, breaking which the 1.1725 may offer intermediate halt prior to fueling the quote towards two-month old descending TL, at 1.1775. In case if the pair continue rising after 1.1775, the 1.1825 and the 1.1850-55 horizontal-region could entertain the Bulls. On the contrary, the 1. ...
The Trump administration announced it would take a softer stance toward Chinese investment than previously reported. New orders for key U.S.-made capital goods and shipments unexpectedly fell in May, but data for the prior month was revised higher. The Commerce Department also reported that the goods trade deficit declined 3.7 percent to $64.8 billion in May as an increase in exports outpaced a rise in imports. The government department also said wholesale inventories increased 0.5 percent in May and stocks at retailers gained 0.4 percent.
Should the pair drop beneath the 1.1640, the 1.1590 and the 1.1510-1.1500 are crucial levels for traders to watch as break of which can drag prices to 61.8% FE level of 1.1415. Given the pair’s ability to surpass the 1.1845 barrier, chances of its rally to 1.1910 & 1.1940 can’t be denied. In addition to the USDJPY’s inability to offer a daily closing below three-month old ascending trend-line, the 50-day SMA level also seems working as a strong support at present, which in-turn favors the pair’s U-turn in direction to the 109.85 and the 110.30 resistances.
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures closed lower on Tuesday as investors continued to express concerns over a possible increase in OPEC crude supply. Also pressuring prices were the escalating trade dispute between the United States and China.
In case if the pair continue trading southwards after 1.1440, the 1.1370, the 1.1330 and the 1.1300 may please the Bears. Assuming that the pair reverses from current levels, the 1.1650 and the 1.1730 can act as immediate resistances before highlighting the 1.1835-50 area for one more time. Alike EURUSD, the NZDUSD is also near to important support-zone, namely the 0.6885-80, but break of which might not trigger the pair’s plunge as an upward slanting trend-line, at 0.6860 now, could still challenge the sellers.
Break of nearly a month-old descending trend-channel signals the USDCHF’s upside towards 0.9900 and the 0.9930-35, if it manages to sustain the breakout, but the 0.9955-60 horizontal-area might confine the pair’s further recovery. In case the quote successfully clears the 0.9960 barrier, the 1.0000 round-figure and the 1.0055 are likely intermediate hurdles that needs to be surpassed in order to meet the 61.8% FE level of 1.0110. On the contrary, pair’s drop below resistance-turned-support figure of 0.9860 can reprint 0.9830 and the 0.9800 mark before taking rest around the ...
For the FX traders, today is all about the FED and all the events surrounding this institution like the rate decision, statement and economic projections. USDCAD is attacking the upper line of the ascending triangle pattern. H4 candle closing above the horizontal resistance will give us a mid-term buy signal.
Even after bouncing off the 1.1510, the EURUSD has multiple resistances to clear in order to justify its strength. The first one will be six-week old descending trend-line figure of 1.1725, followed by the 1.1745-50 horizontal-region and the 1.1830-35 resistance-area. If prices manage to surpass 1.1835, the 1.1900 and the 1.1940 may mark their presence on the chart. Alternatively, the 1.1645-40 can offer immediate support to the pair, breaking which it can drop to 1.1580 and then to the 1.1510. Assuming sellers’ ability to drag the quote beneath 1. ...
Even if immediate descending trend-line restricts the USDCHF’s near-term upside, the pair is yet to conquer more than three-month old upward slanting TL, at 0.9855 now, in order to stretch its latest pullback towards 0.9810 and then to the 0.9785, comprising 50-day SMA. Given the seller’s refrain to respect the 0.9785 mark, the 0.9720 and the 200-day SMA level of 0.9700 can appear on the chart. Should the 0.9855 trend-line number triggers the pair’s U-turn, the 0.9900, the 0.9930 and the 0.9955 are likely adjacent resistances that can be aimed while being long but the 0. ...
GBPJPY is on our radar for a long time. We were expecting the price to fall down and that is what is happening. Very good, technical setup. The price broke all major supports and is in the free fall, coming back to the long-term downtrend. Potential profit is huge!
A geo-political risk is an ever-present theme in the global financial markets and requires traders to be up to speed on global current affairs, particularly in geographies that have the ability to cause widespread economic disruption, either through supply or from a demand perspective.
Even if recently published EU details stopped the EURUSD’s drop, for the time being, the pair can’t be termed strong even for the short-term unless it breaks the 1.2030 horizontal-line; however, the 1.2000 psychological magnets can act as immediate resistance. Assuming the quote’s ability to surpass 1.2000 marks, also clearing the 1.2030 barriers, the 1.2070 and the 1.2100 are likely following hurdles that it needs to conquer in order to aim for the 1.2140-45 resistance-area. In case the pair maintains its south-run, the 1.1885 and the 1. ...
During yesterday’s trading session Crude Oil WTI rose above $70 for the first time since 2014, as US President Trump announced that he would reveal his decision on the Iran Deal today at 18:00 GMT.
EURUSD’s recent recovery is yet to provide a daily closing beyond 200-day SMA level of 1.2015 if it needs to aim for 1.2080 and the 1.2135 resistances; however, the 1.2155-60 horizontal-area could limit the pair’s further advances, if not then the 1.2225, comprising 100-day SMA, may gain buyers’ attention. Alternatively, 1.1960 is likely immediate support for the pair to avail in case of its D1 close below 1.2015 whereas 1.1920-10 might give rise to the quote’s another pullback. Given the 1.1920-10 region’s failure to disappoint sellers, the 1.1880 & 1. ...
Considering the EURUSD’s latest U-turn from two-month old descending trend-line, coupled with overbought RSI, the pair is more likely to revisit the immediate TL support, around 1.2340, breaking which 1.2300 and the 1.2260 can come alive on the chart. Should prices reverse from present levels and surpass the 1.2415 trend-line resistance, the 1.2445-50 horizontal-region could try limiting its recovery, if not, then 1.2470 and the 1.2500 round-figure might become buyers’ favorite.
This week should be important for the CAD. We do have an interest rate decision, statement, the CPI, and the Retail Sales data. Ahead of those events, CAD is very strong. USDCAD is going down for the past few weeks and it looks like this movement will continue. Currently, the price is creating the rectangle pattern, which promotes a breakout of its lower line and a further drop.
Bank shares initially traded higher before falling. However, analysts said the strong results were already priced in.
Having failed to surpass the 0.9640-50 horizontal-area, the USDCHF seems coming back to nearly two-month old ascending trend-line, at 0.9560 now, breaking which 0.9530 & 0.9500 are likely following supports that can please the sellers. However, pair’s drop below 0.9500 opens the gate for its south-run towards 0.9420-15 support-zone. Alternatively, an upside break of 0.9650 may have to clear the 0.9665 resistance in order to aim for the 0.9700 round-figure while 0.96735 and the 0.9770 can entertain the Bulls then after.CHF/JPY
USDCHF’s six-week old gradual up-moves might fade soon as not only 100-day SMA level of 0.9610 & the ascending trend-channel resistance, at 0.9645, are there to challenge the nearby upward bias but the 0.9655, comprising 200-day SMA, and 0.9660-65 horizontal-region also stand tall to play their roles. Even if the pair manages to surpass the 0.9665 mark on a daily closing basis, five-month old descending TL, at 0.9700, could offer another strong resistance for the buyers to tackle. As a result, pair’s pullback to 0.9570 and then to the 0. ...
Considering USDCHF’s latest U-turn from near 50-day SMA, the pair seems all set to challenge the 0.9565-70 area with 0.9535 being immediate resistance to tackle. In case if the pair manage to surpass the 0.9570 mark on a daily closing basis, the 0.9600 & the 0.9640 are likely following numbers to please the buyers ahead of questioning their strength by 200-day SMA level of 0.9660, adjacent to 0.9665-70 horizontal-line. Given the pair’s inability to sustain latest recovery, the 0.9455 and the 50-day SMA level of 0.9415 might entertain short-term sellers. ...
While 1.2350-55 confined the EURUSD’s latest recovery, the 1.2290 seems coming back on the chart but an upward slanting trend-line, at 1.2265 now, may restrict the pair’s following downside. Should the quote drops beneath the 1.2265, the 1.2230 and the 1.2210-05 horizontal-line can become sellers’ favorite ahead of reigniting the importance of 1.2155 support-mark. In case if the Fed disappoints USD Bulls, the 1.2355 may offer immediate resistance to the pair before propelling it to the 1.2380 trend-line barrier, which if broken could further escalate the up-moves to 1.2410 and then to the 1. ...
With the failure to sustain its bounce off the 50-day SMA, EURUSD reignites the importance of the same SMA level before crucial inflation release. Should the CPI figures disappoint USD Bulls, the pair may continue recovering towards 1.2360 and then to the 1.2480 but a month-long descending trend-line, at 1.2420, could confine its following upside. Given the pair’s daily closing beneath the 1.2150, the 1.2090-85 and the 100-day SMA level of 1.2030 could become Bears’ favorites.