The euro has continued to advance against the greenback as the US dollar index comes under heavy selling pressure ahead of Friday’s key US jobs number. The EURUSD pair could easily reach the 1.1025 level if the 1.1000 level is broken ahead of Friday’s main event. Sustained strength above the 1.0950 level should encourage traders to continue to buy the EURUSD pair...
The US dollar is under increasing downside pressure against the Japanese yen currency as global equity markets and the greenback falters over recent US data misses. The 106.90 level is now the key support region that bears must break to force a further decline toward the 105.50 level. Overall, the USDJPY has a strong intraday bearish bias while trading below the...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.0935. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.098. TP4: R2=1.1005. Set the stoploss of these orders at breakout of S2=1.0915. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has recovered towards the 1.2300 level against the US dollar after traders bought the pair from the 1.2200 level over positive Brexit headlines. The recent decline has helped the GBPUSD pair create an extremely large head and shoulders pattern across the lower time frames. Overall, the latest bounce higher has the potential to form a right-hand...
The euro is moving higher against the US dollar after the US ISM manufacturing survey unexpectedly fell to a ten-year low on Tuesday. The EURUSD is only short-term bullish while trading above the 1.1000 level, leaving the pair with a major upside battle. Overall, a temporary bottom has now most likely been established around the 1.0880 level, making long positions...
The euro currency is trading below the 1.0900 level against the greenback, as the US Dollar index advances to a new 2019 trading high. The current risk for the EURUSD pair is a drop towards the 1.0850 level, with extended support around the 1.0810 level. Overall, the EURUSD faces a day of high impacting economic data, which has the potential to positively or...
The British pound is trading under the 1.2300 level against the US dollar as traders remain cautious ahead of key US and UK data releases this week. The four-hour time frame shows that the GBPUSD pair could bounce towards the 1.2375 technical area if a near-term recovery occurs. To the downside, a move below last weeks trading low could see a quick bearish drop...
The British pound has opened the new trading day below the 1.2300 level against the US dollar as United Kingdom political risks weigh on sterling. The immediate risk is a possible decline towards the 1.2250 level, while the current yearly low could come into focus if British PM Boris Johnson is ousted in UK Parliament. Only a sustained rally above the 1.2360 level...
The euro currency remains extremely weak against the US dollar, although key upcoming risk events could provide some relief for the EURUSD pair. The US dollar index currently has a double-top pattern forming, while US political risks this week could be EURUSD supportive. Overall, weakness under the 1.0900 level could prompt more losses, however, traders must be...
The British pound has recovered from the 1.2300 level against the US dollar, with the move higher extending towards the 1.2365 level. With the short-term bearish target for the GBPUSD pair possibly hit, directional traders may be sidelined until next week. In the immediate term, if the 1.2300 level is broken the GBPUSD pair is likely to find strong support from...
The euro currency has moved to a new 2019 trading low against the US dollar after sellers forced a technical test of the 1.0900 support zone. The EURUSD has few fundamentals positives at the moments and the technical landscape is still very bearish while below the 1.1110 level. A continuation of EURUSD selling remains the most likely scenario, with the 1.0850...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=107.6. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=108.05. TP4: R2=108.25. Set the stoploss of these orders at breakout of S2=107.45. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro is back under pressure against the greenback after traders force a bearish breakout below the current weekly trading low. The EURUSD pair now needs to move below the 1.0925 level to encourage technical towards the 1.0850 technical area. Traders could also buy the EURUSD pair from the current area if the 1.0925 level is not broken for a great risk-reward...
The US dollar continues to recover higher against the Japanese yen currency as the pair move back towards the pivotal 107.70 level. The rebound from the 106.90 level has been fairly rapid and suggests that the USDJPY pair could still probe above the 108.00 level over the medium-term. Overall, bulls have the upper hand as long as the USDJPY pair trades above the...
The British pound has staged a recovery against the US dollar after finding strong technical support from the 1.2410 level on Tuesday. Bulls still need to recover price above the 1.2510 resistance area to secure the GBPUSD pairs short-term prospects. Overall, downside risks still remain, with the 1.2300 level the likely bearish target if bulls fail to overcome the...
The euro is attempting to recover above the 1.1000 level against the US dollar after sellers were unable to keep the pair below the 1.0980 level. EURUSD bulls now need to move price above the 1.1025 resistance level to encourage further buying towards the 1.1050 level. Failure to beach the 1.1025 level could see the EURUSD push back towards the current weekly...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.631. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=0.636. TP4: R2=0.638. Set the stoploss of these orders at breakout of S2=0.63. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound remains under downside pressure against the US dollar on Tuesday, with a bearish reversal pattern forming across the lower time frames. Current short-term technical analysis shows that the GBPUSD pair could fall towards the 1.2310 region if the 1.2385 level is broken. A sustained move above the 1.2510 level should be taken as a bullish sign for...