The British pound remains under pressure towards the key 1.2560 level against the US dollar, ahead of the release of UK inflation data this morning. The 1.2560 level is a key pivot for the GBPUSD pair, with further intraday weakness expected if bulls fail to secure price above this area. An upcoming test of the 1.2500 level is still expected due to broad-based...
The British pound has slumped to its weakest level against the greenback since January 3rd this year, after bears moved the pair below the key 1.2560 level. Continued weakness below the 1.2500 level is increasingly likely as UK political uncertainty is driving the pair lower. GBPUSD bears are likely to aim for the December low, while bulls may look for a better...
The euro is on the rise against the US dollar in early Tuesday trade as bulls once again failed to breach the key swing-low, at 1.1200. The 1.1260 level remains the next upside target for EURUSD bulls, with the 1.1245 level the interim resistance barrier they need to clear. The four-hour time frame is also showing a large bullish pattern, with the 1.1500 level the...
Technical analysis: . Isimple/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 51. . While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue. Trading suggestion: . There is a possibility...
The euro has started the new trading week on the back foot against the US dollar after the pair suffered its worst one-day drubbing since March this year. Bulls now need to move the EURUSD away from the 1.1200 level and start to close the pair above the 1.1260 level ahead of the FOMC meeting. Weakness below the key 1.1200 level may prompt another technical test of...
The British pound has opened the new trading week under pressure against the US dollar after a heavily bearish weekly close under the 1.2600 support level. If GBPUSD sellers break the 1.2560 support level the pair could slide toward the 1.2480 region. Any intraday bounces higher are expected to find meet with strong technical selling interest from the 1.2630 to...
The euro currency has slumped to a fresh weekly trading lower against the US dollar after the pair broke through the 1.1280 support barrier. Sustained losses below the 1.1260 level may trigger the next heavy EURUSD sell-off towards at least the 1.1235 support zone. Worse than expected US retail sales data later today may help to send the US dollar index lower and...
The British pound is once again testing towards the 1.2660 level against the US dollar after suffering another strong rejection from the 1.2700 resistance level. Bulls are struggling to keep the GBPUSD pair above the 1.2700 level, with sellers holding the upper hand while price trades below this key level. Overall, a sustained break above the 1.2710 level may...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.6555. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=0.6595. TP4: R2=0.661. Set the stoploss of these orders at breakout of S2=0.6545. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro has fallen back towards the lower end of its weekly trading range against the US dollar after bulls failed to move price above its former weekly trading high. The EURUSD pair is under technical pressure while trading back under the 1.1310 level and risks further losses towards the 1.1265 level. Overall, the US dollar index is starting to retrace last...
The British pound has reversed sharply from the 1.2750 level against the US dollar after UK Parliament was unable to block a hard-Brexit on Wednesday. The bullish pattern on the four-hour time frame still remains valid, with the 1.2655 level the foremost support zone. Bulls need to move price back above the 1.2710 level to install the intraday bullish sentiment...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.6555. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=0.661. TP4: R2=0.664. Set the stoploss of these orders at breakout of S2=0.6545. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
Technical analysis: . NEO/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 53. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (11.1856 to 8.4295). if so, traders can set orders based on Price Action and...
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 48. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.00159400 to 0.00110000). if so, traders can set orders based on...
The euro has made a quick recovery higher after briefly dipping below the 1.1300 level against the US dollar and finding strong buying demand just below the 1.1290 level. Buyers now need to break the former weekly higher and aim to close the daily candle above the EURUSD pairs 200-day moving average. Overall, the upside target for short-term bulls is likely to be...
The British pound is struggling to reclaim the 1.2700 level against the US dollar after yesterday’s much weaker set of data points from the UK economy. However, dip-buying demand for sterling still remains present, with bulls still maintaining the upper-hand while price holds above the 1.2660 level. GBPUSD bulls are likely to place stops around the 1.2600 level...
The euro is holding onto most of Friday’s impressive gains against the US dollar in early week trade after the pair performed another impressive technical break. The EURUSD is struggling to surpass its 200-day, with the pair failing to close the daily candle above this key technical area. Corrective moves back towards the 1.1260 level still remain possible if...
The British pound has so far found strong technical resistance from the 1.2762 level against the US dollar, with price falling below neckline support. If the GBPUSD pair holds below the 1.2747 level we may see the start of a complex inverted head and shoulders pattern forming across the four-hour time frame. Overall, traders may also be feeling cautious ahead of...