The US dollar is trading towards the best levels of the month against the Japanese yen currency, following the recent announcement of a Sino-US trade deal. The USDJPY pair could soar toward the 110.20 level if we see a sustained break above the 108.90 level this week. Any technical pullbacks in the USDJPY pair should find strong technical support from the 107.45...
The British pound is starting to give back gains against the US dollar after the pair found strong resistance from its 200-day moving average, around the 1.2720 level. A sustained break under the 1.2580 level could the GBPUSD pair falling towards the 1.2485 level this week. Dip-buyers are likely to move in strongly from the 1.2485 level if we see a pullback in the...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (108.00). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . There is a divergence in RSI and price between the trough at 106.775 on 2019-06-25 and the trough at 104.45 on 2019-08-26, the probability...
The euro is holding above the 1.1000 level against the US dollar in early Friday trade, although the pair is struggling to move past the 1.1030 resistance level. The EURUSD pair faces a moment of truth, with sellers poised to move if the 1.1000 support level is broken. Overall, buyers are still in control while the EURUSD pair starts to stabilize above the...
The US dollar is trading towards the best levels of the week against the Japanese yen, following reports that a minor Sino-US trade deal may be on the cards. The 108.50 level is now the key technical area that bulls will need to break to encourage a test of the 108.80 level. Overall, the USDJPY pair now has a strong bullish bias while trading above the 107.45...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.1000). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURUSD 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 is holding firm against the US dollar in early Thursday trade, ahead of the release of the ECB Meeting Minutes later this morning. Any commentary towards increasing QE purchases will likely be bearish for the EURUSD pair. To the upside, if ECB members are seen to be divided about further QE purchases, it will likely be taken as bullish for the EURUSD...
The US dollar is moving higher against the Japanese yen currency after bearish momentum faded below the pivotal 106.90 support level. If USDJPY bulls can maintain price above the 107.45 level the pair could advance towards at least the 108.00 technical region. Overall, the resumption of Sino-US trade talks later today is likely to decide the overall direction of...
Technical analysis: . Tron/US Dollar 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 RSI is at 60. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.014500 to 0.011100). if so, traders can set orders based on Price...
The euro currency is edging lower against the greenback as recent bullish momentum fades ahead of the release of the FOMC meeting minutes later today. EURUSD bulls need to maintain the pair above the 1.0950 level to encourage dip-buying this week. A loss of the 1.0950 support level could see the EURUSD pair quickly sold back towards its former weekly trading...
The British pound is back under selling pressure against the US dollar as the chances of a hard-Brexit scenario appear to have increased. A sustained break below the 1.2200 support level could trigger a major technical sell-off in the GBPUSD pair, with the yearly trading low the initial target. Overall, moves back towards the 1.2275 level are likely to be met with...
The euro is struggling to move above the 1.1000 resistance level against the US dollar as traders remain cautious ahead of the release of the FOMC meeting minutes. Bearish Sino-US trade news has also previously failed to send the EURUSD pair higher. Overall, unless the 1.1025 level is broken, traders may be considering initiating short positions from just above...
The British pound is consolidating the 1.2300 level against the US dollar after traders failed to hold price below the important 1.2275 level. Uncertainty towards Brexit developments is keeping the GBPUSD pair contained, leaving traders to scalp the short-term range. Overall, traders will be looking to short the GBPUSD pair this week on a break of the 1.2275...
The euro currency is still holding onto its recent gains against the greenback, as the pair attempts to break its multi-month losing streak. The lower time frames are currently showing that the EURUSD pair faces major trendline resistance around the 1.1025 level this week. Overall, EURUSD buyers still have the upper hand while the price continues to trade above...
The US dollar is attempting to recover above the 106.90 level against the Japanese yen, with the pair appearing to have found an interim price floor. The USDJPY could drift higher towards 107.45 level this week, as initial Sino-US trade talk optimism dominates market sentiment. Overall, the USDJPY pair is technically bearish while trading under the important...
The British pound has moved towards the 1.2400 level against the US dollar, following bullish news surrounding British PM Boris Johnson’s new Brexit proposals. The GBPUSD pair has a strong bullish bias while trading above the 1.2325 level, with the 1.2470 level currently acting as extended weekly resistance. Overall, the latest rally has also helped to complete...
The euro currency is still holding firm against the US dollar, with the pair remaining well-supported above the pivotal 1.0950 technical region. EURUSD traders are heavily focused on the release of US jobs data later today, with a worse-than-expected likely to prompt a rally towards the 1.1070 level. A better-than-expected number may see the EURUSD pair forced...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.673. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=0.6775. TP4: R2=0.68. Set the stoploss of these orders at breakout of S2=0.672. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...