The British pound has slumped to a fresh weekly trading low against the US dollar as reports surface that British Prime Minister Boris Johnson may call for a UK General Election next week. The GBPUSD pair has a negative intraday bias while trading below the 1.2850 level. The GBPUSD pair is likely to be sold heavily on any rallies back towards the 1.2890 resistance...
The British pound is attempting to stage a recovery against the US dollar on Thursday after bulls continued to defend the important 1.2850 support level. Buyers must still remain cautious as a loss of the 1.2850 level could spark a strong decline in the GBPUSD pair. A sustained breakout above the 1.2900 level could cause the GBPUSD pair to rally back towards the...
The euro currency is advancing back towards the 1.1145 level against the US dollar, as traders await the ECB monetary policy decision later today. The EURUSD pair could rally towards the 1.1255 level if bulls continue to defend the 1.1110 level. A sustained loss of the 1.1110 support level could prompt a much larger decline in the EURUSD pair back towards the...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.112. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.1155. TP4: R2=1.1175. Set the stoploss of these orders at breakout of S2=1.1105. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro has moved below the pivotal 1.1145 level against the US dollar, placing the focus on emphasis on further short-term selling. If an interim high is in place, the bearish correction in the EURUSD pair could extend losses towards the 1.1044 support level. A sustained break below the 1.1110 support level should confirm that the EURUSD pair can start to trade...
The British pound has slipped below the 1.2900 level against the US dollar as bearish Brexit news weighs on the pairs trading sentiment. Selling any moves above the 1.2900 resistance level is now the preferred intraday strategy when trading the GBPUSD pair. More cautious traders may weight for a sustained breakout below the 1.2850 support level to initiate a...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.986. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=0.991. TP4: R2=0.9925. Set the stoploss of these orders at breakout of S2=0.984. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro currency has staged a minor technical correction lower against the US dollar after the pair found technical resistance from just below the 1.1180 level. EURUSD bulls still have time to advance towards the 1.1200 level ahead of Thursday’s key ECB policy meeting. A sustained loss of the 1.1145 level could push the EURUSD pair towards the 1.1125 support...
The US dollar is struggling to move above the 108.80 level against the Japanese yen, leaving the pair under pressure going into the European trading session. The four-hour time frame is currently showing that a bearish head and shoulders pattern has formed. A sustained break under the 108.55 level will trigger the bearish pattern, with the 108.10 level the overall...
The euro has opened the new trading week unchanged against the US dollar, with Brexit uncertainty having a limited impact on the pair. The EURUSD pair performed a major breakthrough above the 1.1100 level last week, putting the 1.1200 level in focus if buyers can keep price above the 1.1160 level. Overall, the EURUSD pair is unlikely to extend gains beyond the...
The British pound has opened the new trading week slightly lower against the US dollar after British PM Boris Johnson failed to pass his new Brexit deal over the weekend. The 1.2850 level offers key upcoming support if the 1.2800 level is convincingly broken. Overall, the GBPUSD pair is still settling in a higher trading range and market participants remain...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (0.6350). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . NZDUSD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support....
The euro currency is gathering strength against the US dollar, following the recent bullish breakout above the 1.1110 resistance level. The EURUSD pair is increasingly likely to trade towards the 1.1160 level if bulls continue to hold price above the 1.1110 level. Brexit developments over the weekend could traders booking profits, leaving the 1.1070 level as major...
The British pound is starting to trade towards the 1.2850 level against the US dollar, after the pair hit its highest trading level since May 2019 on Thursday. A medium-term price high could be in place for sterling if UK lawmakers fail to approve the new Brexit deal over the weekend. Overall, the GBPUSD pair is vulnerable to further selling while trading below...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.109. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.114. TP4: R2=1.116. Set the stoploss of these orders at breakout of S2=1.108. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is moving away from the 1.2876 level against the US dollar after the pair traded to a new monthly high on Wednesday. The recent breakout above the 1.2720 level is a bullish development for the GBPUSD pair and has increased dip-buying interest. Overall, medium-term analysis is still showing that the GBPUSD is unlikely to break the 1.2900...
The euro continues to enjoy strong buying interest against the US dollar, with the pair trading around the best levels of the week so far. According to technical analysis for the daily time frame, the 1.1110 level is currently the weekly bullish target for EURUSD bulls. Only a sustained loss of the 1.0990 support level will turn the intraday sentiment towards the...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.1055. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.1105. TP4: R2=1.113. Set the stoploss of these orders at breakout of S2=1.104. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...