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...
( 1.1910 - 1.1880 ) - Strong resistance poses a serious challenge to the upside momentum. odds of a downturn near 1.1800 can't be rule out. The corrective pull back will have to cross 1.1920 to convince buyer for another battle.
resistance confluence 1827-1832, poses a serious challenge to the down side momentum. if have a fail beak out at here, a opportunity for seller, target 1805 or 1785. Opposite this resistance is broken out, buyer may be continue long Gold, 1875- 1850 become crucial level to watch
USD/CAD defends 1.2600 amid downbeat oil prices, sluggish markets. USD/CAD holds onto the previous day’s recovery from a fortnight low while picking up bids to 1.2617 during Wednesday’s Asian session. => Moving on, US employment-related data and ISM Manufacturing PMI for August will be important for the near-term market direction ahead of Friday’s jobs report. +...
130 - 130.33 is strong resistance zone that poses a serious challenge to upside momentum. Seller may soon return if the pair have a fail break out. => May be short at price 130 or 130.33. target 129.20 or 128.50. Stoploss 130.60.
Gold consolidates the heaviest daily jump in two weeks around monthly top. Fed Chair Powell teased tapering but timing, rate hike concerns favored bulls on Friday. XAU/USD could target $1,830 next ahead of NFP + gold keeps upside break of the key 1,808-10 support confluence, previous resistance. + However, any further upside will be challenged by the last month’s...
AUD/USD extends Friday’s run-up, the biggest since early June while refreshing a fortnight high around 0.7320, up 0.08% intraday. + Australia Company Gross Operating Profits jump 7.1% in Q2. + A weaker US dollar, as courtesy of the dovish Fed Chair Powell last Friday. AUD/USD buyers are on the way to the monthly top surrounding 0.7430 but 0.7360 - 0.7390 may...
USD/JPY appears to be stuck in a narrow range 109.3 - 110.3. USD/JPY may continue to consolidate ahead of the Kansas City Fed Economic Symposium scheduled for August 26 – 28 amid the ongoing weakness in longer-dated US Treasury yields. USDJPY may track sideways ahead of the Fed symposium amid the ongoing weakness in US Treasury yields. => If price break out are...
Need to carefully observe the important support zone 1772 - 1882. Will this zone be broken or not.? + If there is a bullish signal, it is possible to buy in this zone, stoploss 1769, take profit 1808. + If this zone is broken out, the price can fall to the next support areas 1758 and 1738 before possibly turning uptrend again.
The Canadian dollar picks up momentum as oil precise stays above $67.00. “Canada is headed for a federal election on 20 September. Historically, political developments hardly impact CAD which is more inclined to react to global macro metrics in the likes of commodity prices and terms of trade.” The price has already retested support on an hourly basis, so there...