EURUSD consolidates the biggest daily gains in nearly three months around a fortnight top during Tuesday. In doing so, the major currency pair retreats from a weekly ascending trend channel’s resistance line amid an overbought RSI. However, the quote remains beyond the 200-SMA and previous resistance line from late March, respectively around 1.0650 and the 1.0560....
Although the weekly channel restricts EURUSD moves while other major currency pairs portray heavy selling against the USD, the bearish flag formation joins downbeat MACD and RSI signals to keep sellers hopeful. Additionally favoring the pair bears is the sustained trading below a descending trend line from March, as well as the 200-SMA and a six-week-old...
EURUSD extends the early week rebound from a 22-month low, also holding the previous day’s break of a bearish broadening pattern as traders brace for the European Central Bank (ECB) monetary policy meeting. Given the recently improving MACD and RSI, the pair’s recovery moves are likely heading towards a six-week-old horizontal area between 1.1100 and 1.1125....
EURUSD extends bounce off a 19-month low, also comprising 61.8% Fibonacci Expansion (FE) of late September 2021 to early January 2022 moves, as traders await European Central Bank (ECB) monetary policy decision. With the recently high inflation and record low Unemployment Rate in Eurozone, the policy hawks are likely to dominate, which in turn could propel the...
EURUSD remains on the back foot so far during the current week, heading into the key ECB Monetary Policy Meeting Accounts. That said, the 200-SMA and an ascending trend line from November 24, respectively around 1.1320 and 1.1300, restrict the immediate downside of the major currency pair. Should the sellers manage to conquer the 1.1300 support, 1.1230 may offer...
EURUSD extends the run-up beyond 200-SMA to cross a two-month-old horizontal area surrounding 1.1385 post-US inflation data. Given the price-positive signals from the MACD and RSI, the major currency pair is likely to keep the recent rebound. However, a sustained run-up beyond 1.1385 becomes necessary for the pair buyers to challenge the mid-November peak near...
Market’s surprise reaction to the hawkish Fed decisions keeps EURUSD traders cautious inside a short-term symmetrical triangle ahead of the ECB monetary policy meeting. Given the dovish expectations from the European Central Bank (ECB), EURUSD is likely to refresh the yearly low. In doing so, the quote needs a clear downside break of a three-week-old support line,...
Gold extends the bounce off monthly support while picking up the bids near $1,801 during the early Thursday. In doing so, the yellow metal pokes a one-week-old descending resistance line inside a one-month-long rising channel bullish formation. Also keeping the gold buyers hopeful is the quote’s sustained trading beyond 200-SMA and firmer oscillators. Hence, the...
Despite staying beyond 200-EMA so far in September, EURUSD gains have recently been challenged by a one-week-old descending trend line near 1.1840. Considering the firmer RSI and receding bearish bias of MACD, the upside momentum has brighter chances to accelerate towards the monthly high, also the double-top, surrounding 1.1910. However, 1.1855 may offer an...
Gold remains depressed around the lowest in two weeks as market sentiment sours ahead of the key European Central Bank (ECB) monetary policy meeting on Thursday. Having stepped back from a two-month-old horizontal resistance last Friday, gold prices dropped below 200-DMA and 50-DMA during the current week. The downside momentum recently gains support from bearish...
EURUSD consolidates recent gains around the five-week top, snapping a six-day uptrend, during a sluggish start to the week. The pair jumped to the highest since late July the previous day but reversed from the 1.1908-10 horizontal resistance. Also challenging the pair buyers was a confluence of 100-day and 200-day SMA around 1.1885-90. Given the RSI conditions,...
Gold prices remain on the back foot amid anxious hours of early Thursday as markets wait for the ECB and the US Consumer Price Index (CPI) data. Although the ECB is less likely to become a major catalyst, the anticipated optimism of the bloc’s policymakers could offer intermediate bounce to gold prices. However, a stronger-than-expected beat of the US inflation...
Despite breaking the two-week-old falling trend line the previous day, EURUSD wavers in a choppy range above 1.1900 as the pair traders await ECB's decision. Also important for the day is US President Joe Biden’s speech to praise policymakers after his $1.9 covid stimulus package crossed the Senate before a few hours. While neither ECB nor Biden seems to offer any...
Fed’s dovish halt and ECB policymakers hint favoring further negative rates dragged EURUSD below 50-day SMA for the first time since early November the previous day. The bears are currently eyeing a horizontal area comprising lows marked during December and the present month, around 1.2060-50. However, the preliminary readings of the US Q4 GDP can exert additional...
Hi folks, EURO against US Dollar have trending sideways in between the price of 1.925 and 1.75 right from August , 2 months of sideways movement's end is still susceptible, towards the end of the month may gives us a clear picture,,even though strong resistance above 1.88 and support at 1.82, this pair looks at end of the triangle..may be the monday opening will...
Hi Friends, EURUSD trading on final leg of complex corrective pattern on medium term. On short term price reached its monthly support levels and also as per wave count i am expecting EURUSD found minor bottom @ 1.1050 level. From here i am looking corrective upside upto 1.1130 level.We can clearly see wave 2 of this count took more sideways action so wave 4 we...
Hi Friends, EURUSD approaching bottom @ 1.0930 level on medium term. As per my wave count short term this pair trading on final leg of B wave.
The structure of Bearish Gartley (marked blue) and Bearish AB=CD (marked green) suggests an end of honeymoon period for bulls. With ECB meeting scheduled today and INDEX:DAX trading around 10,750, there can be short opportunity in the range of 10,800-10,950 for the target of 9,300-8,800 with the stop loss of 11,500.