EURUSD dropped to the lowest since late 2002 during the four-day downtrend. The oversold RSI, however, tested the bears afterward around 0.9900. It’s worth noting that the consolidation remains elusive until the quote stays beyond the previous monthly low near 0.9950. Even so, the parity level and a six-week-old horizontal resistance area around 1.0090 could...
Despite a refreshing two-year low, EURUSD prices remain above a five-month-old downward sloping support line. Adding strength to the recovery hope is Emmanuel Macro’s victory in French Presidential Elections and nearly oversold RSI. That being said, the 10-DMA level surrounding 1.0810 challenges the corrective pullback before directing buyers towards the monthly...
Be it the March PMIs or US Durable Goods Orders, not to forget the key NATO meeting, Thursday has it all to trigger market volatility. Gold has already printed a bear cross but the 200-SMA has been defending bulls so far, suggesting a tough fight between the buyers and sellers. However, lower-high formation since the early days of March, as well as sluggish MACD...
EURUSD bears take a breather around weekly low, after a two-day downtrend, during early Wednesday. Although risk-on mood helps the EURUSD to consolidate weekly losses, the likely firmer US Durable Goods Orders print keeps the bears hopeful. Additionally, the quote’s sustained trading inside a broad falling wedge since early June and a recent drop below 10-DMA...
Risk appetite sours during early Wednesday, underpinning the US dollar’s safe-haven demand ahead of the key US Durable Goods Orders. The greenback rebound triggers the USDCAD pair’s U-turn from 20-DMA. Given the firmer RSI and sustained trading beyond 200-DMA, not to forget the latest bounce off the immediate moving average, the Loonie pair is up for further...
