On the upside, GBP/USD is facing static resistance at 1.3360. In case a four-hour candle closes above that level, buyers could target 1.3430 (100-period SMA) and strong resistance 1.3520. This is also the zone where the sellers are ready to return to the market if there is a signal. In the meantime, if the bulls fail to push the price above 1.3360 - 1.3390, there...
The EUR/USD pair met sellers around the 23.6% retracement of its November decline at 1.1305, the immediate resistance level. Support level: 1.1245 1.1200 1.1165 Resistance level: 1.1305 1.1360 1.1430 In the short term and according to the 4-hour chart, EUR/USD is rising slightly and steadily above the EMA21 (1.1268), while technical indicators correct from...
USD/JPY extends Monday’s rebound from three-week low, refreshing intraday low at the latest. USD/JPY stays on the front foot for the second consecutive day, up 0.16% intraday around 113.85 as Tokyo opens for Tuesday. For now, though, selling pressure ahead of the psychologically important 114.00 level and the 21DMAl near 114.10 just above it is preventing any...
Gold prices grind between $1780 - $1815. The 4-hour chart indicates to be long above $1,815 and short below $1,780. Between these levels, traders will be at risk of whipsaw price action and sideways consolidation. Even so, a clear downside break of the stated support line, around $1785 by the press time, won’t be enough as multiple levels around $1780 also...
XAU/USD clings to modest recovery gains, remains below $1,800. Yields failed to cheer hawkish Fed Minutes, inflation data on Wednesday. Strong technical support around $1,780 - $1,785 also played its role to trigger the corrective pullback. + The recovery moves remain elusive until crossing the 200-SMA and the aforementioned support-turned-resistance area,...
=> => If the price corrects down to 0.9290 then 0.9250, this will be an opportunity for the bulls USD/CHF hits seven-week highs near 0.9350. While clearly above support at 0.9250, the USD/CHF could continue to look for more gains in the short-term. At support line, near 0.9250, to challenge short-term USD/CHF sellers. However, an ascending support line from...
AUD/USD seesaws around seven-week low, snaps two-day downtrend. The price fell on Monday from 0.7273 to a new low of 0.7221. the A$ should remain under modest pressure given further weakness in Chinese steel prices/ super weak October steel production data, the continued slide in coal markets, the more dovish RBA Governor’s speech to the ABE last week. A test down...
Currently, it is necessary to closely observe two important price zones: + Support zone 1.3350 - 1.3390, GBP/USD is consolidated in the opening session but the focus is on a test of 1.3350-1.3390 the figure. If this zone is broken, the bears will return to the market and push GU to 1.33 level and deeper to 1.3270 level. + Resistance zone 1.3480-1.3510. This is a...
+ EUR/USD slides below 1.1240 amid broad US dollar strength, after Biden nominates Powell. EUR/USD: The pair has a bearish bias, and the rallies have the potential of being sold, as a monetary policy between the Fed and the ECB, diverge. EURUSD continued to decline in the past session, causing the bulls' attempt to be completely broken. However, ahead is still a...
USD/JPY remained subdued in the overnight session, but in the Powell news, rallied 60 pips. Two important price zones need to be observed: 114.70-115.00 and 113.80 - 114.00. This is an area that will make the bulls come back to hold the market. In the daily chart, the USD/JPY depicts an upside bias. The daily moving averages (DMA’s) reside below the spot price,...
Gold Price: Poised to challenge a critical support at 1,803.70. Markets welcome US Pres. Biden’s decision to nominate Powell for Fed Chair, Clarida as vice Chairman. Gold (XAU/USD) defends the $1,800 threshold following the heaviest daily fall in over 10 weeks. => Long if 1803 become a fail breakout. That said, the yellow metal picks up bids to $1,817 , 1826 and...
USD/JPY up sharply to test 21DMA at 113.80, as hot US inflation piles pressure on Fed. 114.50 eyed for days ahead. A three-week-old resistance near 114.20 restricts short-term upside moves but a clear break of the 20-DMA, around 113.85 at the latest, keeps buyers hopeful. If USD/JPY is able to break to the north of its 21DMA, this will open the door to a run at...
EUR/USD holds below 1.1500, eyes on 1.1450 The pair was testing the 1.1580/70 (50-period SMA, static level) support area and additional losses could be witnessed if this area turns into resistance. The first hurdle aligns at 1.1600, where the 100-period and 200-period SMAs collide. 1.1620 (static level) and 1.1650 (static level) could limit the pair's upside in...
The metal jumped to the highest in five months, also crossed the key upside hurdles near $1,832-34. On these last, the 20 SMA is extending its advance beyond the longer ones, reflecting the increased buying interest. Gold is extremely overbought also in the near term. The Momentum indicator has lost its bullish strength, modestly retreating from its daily peak. At...
USD/JPY regained some positive traction on Monday, though lacked bullish conviction. Rebounding US bond yields turned out to be a key factor that extended some support. USD/JPY is consolidating above 113.26, it is on the defensive and looks increasingly toppy. Should a close below the 113.26 recent low be seen we would allow for a deeper sell-off to 112.56, the...
GBP/USD: Downside resumes towards 1.3425 amid Brexit woes. Looking at GBP/USD’s daily chart, the bears are looking to test the rising trendline support at 1.3427 after the recovery faltered near 1.3500. On the upside, the recovery needs to find acceptance above 1.3500 to take on the previous support now resistance at 1.3559. The next significant resistance awaits...
EUR/USD is ranging above mid-1.1500s, consolidating the recovery from yearly lows. EUR/USD Price Analysis: Recovery needs acceptance above 21-DMA 1.1590, If that is cleared on a sustained basis, then the EUR buyers will look to take out the previous week’s highs at 1.1616. Further up, the downward-sloping 50-DMA barrier at 1.1669 will be next on the bulls’...
Buyers seize control above the $1,800 mark after the solid comeback seen in the previous week. Gold keeps upside break of the key 1,808-10 support confluence, previous resistance. => Gold can go towards $1,830 and $1,834. Strong resistance 1830 - 1836 poses a serious challenge to the upside momentum. Waiting for opportunities in good price, 1800-1803 or 1808-1810...