Dukascopy

Dukascopy

The US Dollar could edge lower as much as 100 basis points within this session. Traders and investors are awaiting the US macroeconomic data releases, namely, the US Non-Farm Payroll, Trade Balance, and the US Fed's Chairman speech, which could increase volatility in the market.

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The Gold versus the US Dollar will most likely decline during the following trading weeks. The potential target will be about 1k pips.

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The British Pound could continue to edge higher against the US Dollar within the following trading session. The currency pair will most likely aim for a psychological resistance level at 1.2500 in the shorter term. However, Brexit controversy might disrupt the bullish momentum in the nearest future.

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The BRENT.CMD/USD pair has been trading in a medium-term ascending channel pattern since the end of December 2018. The pair re-tested the lower boundary of the channel pattern at 66.50 during last week’s trading session. As for the near future, it is likely that the Brent crude oil prices will continue to appreciate and potentially hits the $70 mark before the end...

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The Light crude oil prices have continued to appreciate in a medium-term channel against the US Dollar. The 50-hour simple moving average has pushed the pair towards the $60 mark. The LIGHT.CMD/USD pair is trading near a resistance level formed by the weekly pivot point at 60.18. If the weekly PP hold, a possible pullback towards a support cluster at 59.21 could...

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During Friday’s trading session, the yellow metal was supported by the 55-hour simple moving average to end the day at 1,310.00. On Monday morning, the rate was retraced by the upper boundary of the medium pattern to allocate the rate at the 1,317.28 mark. In regards to the near-term future, most likely, the rate will break the resistance of the medium pattern...

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During Friday’s trading session, the currency exchange rate ended the day at the 110.00 level, as it was expected! On Monday morning, the rate was located at the 110.17 mark. It is expected that the rate will depreciate towards the 50.00% Fibonacci retracement level at the 109.60 mark. Besides, the resistance level of the 55-hour simple moving average will...

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During Friday’s trading session, the British Pound appreciated against the US Dollar by 196 base points or 1.51%, breaking most of the technical indicators. On Monday morning, the rate was located between the 200-hour and the 100-hour simple moving averages at the 1.3197 mark. In regards to the near-term future, most likely, the resistance level of the 200-hour...

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During Friday’s trading session, the currency exchange rate depreciated to 1.1260 passing the support levels of the simple moving averages. On Monday morning, the rate was located at the 1.1320 mark. In regards to the near-term future, most likely, the rate might depreciate towards the monthly S1 at the 1.1250 mark passing the bottom boundary of the pattern line...

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The New Zealand Dollar was trading in a horizontal line against the US Dollar on Friday. The 50– and 100-hour simple moving averages provided significant support and resistance for the currency pair during Friday’s trading session. The exchange rate was still stranded between the moving averages during Monday’s trading session. Most likely, a breakout is likely...

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The US Dollar appreciated about 77 pips against the Canadian Dollar on Friday. The currency pair was guided up by a narrow ascending channel pattern. Currently, the exchange rate is trading near the lower band of the narrow ascending channel pattern at 1.3421 and could be set for a breakout. If this breakout occurs, it is likely that bearish traders could push...

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The Australian Dollar depreciated by about 40 base points against the US Dollar on Friday. The currency pair breached the 200-hour simple moving average at 0.7091 during Friday’s trading session. Today’s session began with an upside sentiment, and by the middle of the trading hours, the exchange rate has breached a counter trendline. Given that a counter...

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The common European currency depreciated about 237 base points against the Japanese Yen on Friday. The pair tested the lower band of a medium-term descending channel pattern at 123.82 during Friday’s trading session. Technical indicators flash sell signals on both the smaller and the larger time frames chart. Therefore, the EUR/JPY exchange rate could edge lower...

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The yellow metal continues to trade in a five-day ascending channel against the US Dollar. As apparent on the chart, the pair hindered near a medium-term channel at 1,343.00 during the first part of Friday. However, the prevalence of strong upside momentum mid-session allowed for a breakout of this pattern and further advance up to the 1,350.00 mark which...

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Following two consecutive sessions of decline, the US Dollar entered a period of consolidation on Friday. Given that technical indicators are already showing signs of recovery, it is likely that the pair eventually manages to accelerate from the newly-formed 2017/2018 low of 104.62 and approach a trend-line located near 105.80. This yearly low is likewise...

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The minor period of consolidation which started on Thursday was not followed by a breakout of the 55-hour SMA near 1.41. Instead, the Pound gained upside momentum mid-Friday and pushed the rate above the 1.4160 mark. It is likely that the same directional pattern occurs today. No significant fundamentals that could add some bearish pressure are not scheduled for...

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The strong support of the 200-hour SMA allowed the the Euro bulls to grow stronger during the second part of Friday. Even though this up-move was not very significant, the pair did manage to breach its nearest resistance formed by the 23.60% Fibonacci retracement and a downward-sloping trend-line at 1.2358. ' The Asian session showed no changes to the overall...

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XAU/USD soars to 1,259.00 After forming an inverse head and shoulders pattern and bouncing off from the weekly S2 at 1,235.93 the yellow metal managed to advance by 1.23% against the buck. In daily perspective the surge the is expected to last until the rate makes a new rebound either from the 1,263.63 resistance level or from a combination of the 200-day SMA...