The euro remains under constant downside pressure against the US dollar on Thursday as expectations remain high that the ECB will announce the timing of the next QE package. The key EURUSD downside levels to watch are the 1.1107 and 1.1050 levels. To the upside, a sustained move above the 1.1160 level could prompt a rally towards the 1.1200 level, although the...
The euro currency has turned heavily bearish over the medium-term against the US dollar after breaking through the 1.1160 support level on Tuesday. Continued weakness below the 1.1160 level may prompt a test of the 1.1110 support level during today’s European trading session. Market participants are now waiting for the release of PMI Manufacturing data from the...
The British pound remains under downside pressure against the US dollar after bears broke through the 1.2440 support zone on Tuesday. The current monthly and yearly low is the key level that GBPUSD sellers need to soon break, or short-term sellers may start to lose patience. The 1.2480 level is the immediate upside barrier that bulls need to break in order to...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.9825. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=0.9865. TP4: R2=0.9905. Set the stoploss of these orders at breakout of S2=0.9805. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
Technical analysis: . Walton/US 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 41. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (1.644 to 1.281). if so, traders can set orders based on Price...
The euro currency continues to trade on the back foot against the US dollar as pair fails to attract buying interest ahead of Thursday’s ECB meeting. Technical indicators across the lower and higher time frames remain oversold, although a bounce in the EURUSD pair is not forthcoming. The 1.1230 resistance level is the main area short-term bulls need to break for...
The British pound remains in the doldrums against the US dollar on Tuesday as the pair continues to meet fresh waves of selling around the 1.2500 resistance area. The GBPUSD pair could fall sharply if the 1.2440 support level is broken over the coming sessions. To the upside, bulls need to move price above the 1.2660 level to change the negative technical bias...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2455. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.2515. TP4: R2=1.2555. Set the stoploss of these orders at breakout of S2=1.2435. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The US dollar has started the new trading week testing the 108.00 handle against the Japanese yen currency despite escalating geopolitical tension in the Strait of Hormuz. The USDJPY suffered a strong rejection from just below the 109.30 area last week, bears will be looking for a lower weekly high. Overall, USDJPY sellers are likely to target the 107.00 to 106.80...
The euro has opened the new trading week slightly weaker against the US dollar after the pair suffered heavy losses after moving below the 1.1248 level. Going forward, the EURUSD faces a decisive week ahead as the ECB decides on rates and possibly QE timing. Over-delivering or underwhelming are all real risks ahead for the EURUSD pair. In the short-term, a...
Technical analysis: . Reddcoin/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 (0.00139200 to 0.00090200). if so, traders can set orders based on...
Technical analysis: . Neo/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 41. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (10.3100 to 8.4295). if so, traders can set orders based on Price Action...
The British pound continues to enjoy fresh buying interest against the US dollar as bulls hold price above the pivotal 1.2530 level. Further intraday gains above the 1.2550 level could propel the GBPUSD pair towards the 1.2610 resistance area. The GBPUSD pair will post a huge bullish weekly reversal candle if the daily candle closes above the former weekly open,...
The euro is trading back above the 1.1248 level against the US dollar in early Friday trade after bears once again failed to move the pair below the 1.1200 level. Bulls now need to move price above the 1.1285 level to encourage fresh EURUSD buying interest. Bears need to break the 1.1200 support level over the coming trading sessions or EURUSD sellers may start to...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2495. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.256. TP4: R2=1.259. Set the stoploss of these orders at breakout of S2=1.2475. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
Technical analysis: . Ripple/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 34. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.29000 to 0.26000). if so, traders can set orders based on Price Action...
The US dollar is probing the downside against the Japanese yen currency after being strongly rejected from its key weekly pivot point. A sustained bearish breakdown below the 107.80 level is likely to see the USDJPY pair testing towards at least the 107.50 support level. The USDJPY pair also appears vulnerable to risk-off trading sentiment and a steep decline in...
The British pound continues to recovery against the greenback after the pair found solid technical support from the key 1.2380 level. Sterling traders are now awaiting UK retail sales data, with better than expected numbers likely to provoke a strong test of the 1.2480 area. Worse than expected UK retail sales data may see the GBPUSD pair sold back towards the...