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...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.212. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.221. TP4: R2=1.2245. Set the stoploss of these orders at breakout of S2=1.21. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro remains technically weak against the US dollar, further placing the pair in a vulnerable position going into the FOMC interest rate decision later today. Bulls inability to break the 1.1160 resistance level is placing the emphasis back towards more EURUSD downside. Only a sustained move above the 1.1187 resistance level can put the pair on more certain...
The US dollar has pulled back from the 109.00 level against the Japanese yen currency, following bearish comments from President Trump towards Sino-US trade talks. A bullish inverted head and shoulders remain in play, with the 110.00 level still the favored target. Continued technical failure before the 109.00 resistance level will eventually start to weigh on the...
The euro is continuing to move higher against the US dollar after sellers failed to move price below the key 1.1100 support level. EURUSD bulls need to move price above the 1.1187 level to encourage further buying towards the 1.1215 resistance level. Overall, bearish momentum will start to grow if bulls fail to overcome interim resistance around EURUSD pairs...
The US dollar continues to move higher against the Japanese yen, with the pair moving to a fresh monthly trading high on Tuesday. The 110.00 level is the preferred upside target for the USDJPY pair now that the 109.00 resistance level has been breached. USDJPY bears may also be looking to sell into strength around the 110.00 level if Sino-U.S trade talks fail to...
The euro has started the new trading week slightly firmer against the US dollar as bulls continue to defend the current yearly trading low. If bulls continue to defend the 1.1100 support level the EURUSD pair could eventually reverse back towards the 1.1215 area. A move under the 1.1100 level should see the EURUSD pair performing a bearish breakout towards the...
The British pound has opened the week on the back foot against the greenback after a heavily bearish price close below its former yearly trading low. The 1.2350 level offers the most significant technical support for the GBPUSD pair below the 1.2380 level. Bulls have major work ahead to move the GBPUSD pair back the 1.2525 resistance level to shift the bearish...
Technical analysis: . ARK/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 52. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.37116000 to 0.26149000). if so, traders can set orders based on Price...
Technical analysis: . IOTA/DOLLAR 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 resistance. . The RSI is at 40. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.2660 to 0.2045). if so, traders can set orders based on Price Action...
The euro is starting to probe the middle of its three-day trading range against the US dollar as financial markets remain unimpressed with the lack of action from the ECB on Thursday. The risk is now to the upside for the EURUSD pair, with a further short squeeze towards at least the 1.1210 level still possible. US GDP later today is likely to prompt the next...
The British pound is starting to lose its recent gains against the US dollar after sellers forced the pair below the 1.2480 support level. The GBPUSD pair may launch its next upside move towards the 1.2550 level if bulls can hold price above the 1.2440 level. Bears need to hold price below the 1.2440 level to encourage more traders to enter back into the GBPUSD...
Technical analysis: . Dash/Dollar 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 resistance. . The RSI is at 38. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (104.00 to 84.00). if so, traders can set orders based on Price Action...
Technical analysis: . Stellar/Dollar 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 resistance. . The RSI is at 39. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.08495 to 0.07211). if so, traders can set orders based on Price...
The British pound staged a solid rebound above the 1.2500 level against the US dollar on Wednesday, after bears failed to hold price below the 1.2440 level. The GBPUSD pair could start to test towards at least the 1.2600 level if bulls break through the 1.2525 resistance later today. Sellers need to hold price below the 1.2480 level to change the intraday...