The British pound has fallen to yet another multi-year low against the US dollar, following the negative second-quarter GDP report from the UK economy. Dip-buyers may be looking to enter into GBPUSD slightly below the 1.2000 level as the pair is attractively priced. Overall, the key area to watch this week is the Brexit referendum spike, which is found just above...
The euro continues to hold around the 1.1200 level against the US dollar as traders await a much-needed breakout in the US dollar index this week. The 1.1160 level is the key support level to watch and the gateway to further losses towards the 1.1135 level. Bulls also have an interesting set-up this week, with gains above the 1.1250 likely to prompt a key...
The British pound is trading on the back foot against the US dollar, ahead of the release of important second-quarter GDP data from the United Kingdom economy. A break below the 1.2080 level will start to put the psychological 1.2000 support level in focus. Better than expected United Kingdom GDP data may see a strong rally back towards the pivotal 1.2250...
The euro is once again attempting to gain traction above the 1.1200 level against the US dollar, following another impressive recovery from the 1.1180 level. Buyers need to negate the double-top pattern formation to secure the next bullish rally towards the 1.1290 region. The EURUSD pair is also becoming increasingly sensitive to calls from US President Donald...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.116. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.122. TP4: R2=1.125. Set the stoploss of these orders at breakout of S2=1.1135. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The US dollar has fallen to a fresh monthly trading low against the Japanese yen and bounced sharply, as risk-off trading sentiment pauses. The USDJPY pair may test back towards the 107.00 level if bulls can edge price back above the 106.60 resistance area. Technical indicators across the lower time frames are having a much-needed correction from extreme oversold...
The euro is appearing increasingly bullish against the US dollar in the short-term, with the pair becoming bought up sharply on any technical pullbacks. If EURUSD bulls can stabilize price above the bearish double-top pattern, the pair could launch an attack towards huge weekly resistance, at 1.1290. Only a sustained move below the 1.1187 level can dampen the...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (0.6735). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDUSD is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...
The euro currency is becoming increasingly bullish against the US dollar in the short-term, as the pair continues to hold price above key technical support. EURUSD dip-buying is now preference as bulls attempt to force price above the 1.1238 resistance barrier. Overall, the EURUSD pair is only technically bearish on an intraday basis while trading below the 1.1187...
The British pound is back under downside pressure against the US dollar after the pair suffered a hard technical rejection from the 1.2200 resistance level. The GBPUSD pair may test back towards the 1.2080 level as upside momentum starts to fade again. Overall, traders may start to exit positions ahead of the release of the main weekly market mover for sterling,...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.116. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.1225. TP4: R2=1.1245. Set the stoploss of these orders at breakout of S2=1.114. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.114. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.119. TP4: R2=1.1205. Set the stoploss of these orders at breakout of S2=1.113. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro is trading around the 1.1130 level against the US dollar, after a fairly solid former weekly price close back above the 1.1100 support level. Traders may need more technical confirmation that a meaningful bottom is in place before turning fully short-term bullish on the EURUSD. Overall, EURUSD traders should be on guard for a bullish double-bottom pattern...
The British pound remains vulnerable to further losses against the US dollar this week, following another heavily bearish weekly price close. Negative UK PMI services data later today could push the GBPUSD pair lower for a major test of the 1.2000 support level. In the near-term, if sterling bulls can regain control, they are likely to face strong resistance from...
The British pound has staged a bounce from the 1.2080 level against the US dollar, following a string of softer US macroeconomic data releases. Minor bounces back towards the 1.2200 resistance level may occur, although further downside towards the 1.2000 is still expected. Traders are also focused on the US monthly jobs report later today, with any downside shocks...
The US dollar has reversed sharply against the Japanese yen after President Trump announced another round of trade tariffs on Chinese imports coming into America. The 106.40 level is now in focus, with the 106.82 level the foremost technical support before. Overall, a move below the 106.82 level will completely invalidate the bullish inverted head and shoulders...
The euro has fallen below the 1.1100 level against the US dollar, marking a bearish monthly price close beneath the bottom of its yearly price range. The EURUSD pair could eventually target towards the 1.0900 level now the range is breached. Key downside target to watch in the interim for the EURUSD pair is located at the 1.1000 and 1.0980 support levels. The...
The British pound has taken a heavy tumble from the 1.2200 level against the US dollar, leaving the multi-year low for the pair exposed. A bearish breakdown below the 1.2110 level should see the GBPUSD pair testing towards the 1.1985 to 1.2000 support region. The UK manufacturing PMI later today and Bank of England rate decision could also be bearish for the...