The British pound is struggling to recover higher against the US dollar, ahead of the release of key employment and wage data from the UK economy this morning. The GBPUSD pairs weekly pivot point, at 1.2530 is the key level to watch for signs of a directional bias. A lack of interest to hold the GBPUSD pair above the 1.2530 level may prompt a rebound back towards...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2475. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.254. TP4: R2=1.2575. Set the stoploss of these orders at breakout of S2=1.2455. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro currency is once again edging higher against the US dollar in early Monday as the technical recover from the current monthly low continues. The EURUSD faces an important week ahead as the trading range for the pair continues to narrow, pointing to a possible technical breakout. Bulls need to clearly break the 1.1310 resistance level, while sellers need to...
The British pound has opened the new trading week on solid footing against the US dollar, following a strong weekly price around the 1.2570 level. GBPUSD bulls need to advance the pair above the 1.2610 level to encourage a test of the key 1.2660 area. Sustained weakness below the 1.2530 level may start to trouble the GBPUSD pair, placing the emphasis back on the...
The euro is holding firm above the 1.1248 level against the US dollar in early Friday trade after finding interim resistance from the 1.1280 level. The 1.1310 level will be the major short-term bullish target if EURUSD buyers can break through the 1.1280 barrier today. A sustained move under the 1.1248 level may prompt yet another test of the technically important...
The British pound is holding above critical support against the US dollar as the pair attempts to post a bullish weekly reversal candle and close the trading week back in the green. GBPUSD bulls ideally need to attack the 1.2660 resistance level to cement the pairs improving the short-term outlook. Sustained moves back under the 1.2505 level should be considered...
The euro is continuing to move higher against the US dollar in early Thursday trade, following the dovish FOMC meeting minutes and testimony from Jerome Powell. The EURUSD pair has a bullish intraday bias while trading above the 1.1248 level and may target the 1.1310 level. Technically, a bullish higher-low has also been created on the charts, further encouraging...
The British pound has made a recovery above the 1.2500 level against the greenback, following FED Chair Powell’s dovish testimony yesterday. Bulls need to hold price above the 1.2530 level in order to advance the GBPUSD pair back towards the 1.2580 resistance level. Failure around the 1.2530 level may prompt another round of heavy technical selling back towards...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.123. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.1275. TP4: R2=1.1305. Set the stoploss of these orders at breakout of S2=1.121. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=108.65. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=109.15. TP4: R2=109.35. Set the stoploss of these orders at breakout of S2=108.45. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
Technical analysis: . Augur/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 50. . The RSI downtrend is broken, so the probability of the resumption of an uptrend is increased. Trading suggestion: . There is a possibility of temporary retracement to...
The euro has slipped back towards the worst trading levels of the month against the US dollar after the pair failed to move above the 1.1240 resistance area. The EURUSD pair could test towards the last important technical low, at 1.1180, if the 1.1205 level is broken. In summary, the next short-term directional breakout will open once the 1.1205 to 1.1240 range is...
The US dollar has made a strong upside break against the Japanese yen as the pair looks past the recent declines in global equity markets. The four-hour time frame shows a large bullish pattern, which holds one hundred and seventy point upside projection. Technical indicators are also turning higher and lending support to the recent range breakout in the USDJPY...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.25. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.2555. TP4: R2=1.259. Set the stoploss of these orders at breakout of S2=1.248. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is attempting to recover above the 1.2500 level against the US dollar, after finding interim support from the 1.2480 level on Friday. The bullish inverted head and shoulders pattern has been invalidated on the lower time frames, although the multi-year low around the 1.2430 remains unbroken. The 1.2505 level is now the key daily and weekly pivot...
The euro has opened the new trading week with a bearish tone against the US dollar, following the strong Non-farm payrolls headline number last Friday. EURUSD sellers need to breach the 1.1205 level, while bulls need to move price back above the 1.1255 level encourage technical buying. A sustained move below the 1.1205 support level would be extremely bearish for...
The euro currency is testing towards the worst levels of the month against the US dollar, following more technical rejections from the 1.1300 resistance level. The four-hour time frame shows that a sustained break under the 1.1280 level is needed to provoke the next round of EURUSD selling. Key bearish targets under the 1.1280 level remain the 1.1255 and 1.1222...
The British pound continues to trade below the 1.2600 level against the US dollar in early Thursday trade, with the pair suffering three days of consecutive losses. The 1.2548 level is now interim support, with the 1.2505 level major weekly support for the GBPUSD pair. The four-hour time frame shows that a bullish inverted head and shoulders pattern is close to...