GBPUSD extends the week-start retreat from a one-month high, after posting a two-week upside, as it braces for the UK employment numbers on Tuesday. The In doing so, the Cable pair holds onto the previous day’s pullback from a six-week-long horizontal resistance as RSI retreats from nearly overbought territory. Even so, the MACD indicator flashes bullish signals...
EURUSD’s break of a six-month-old ascending support line, as well as poking of the 200-day EMA, set the tone for the major currency pair’s additional weakness as markets await the Eurozone inflation and US employment numbers. Adding strength to the downside bias are the bearish MACD signals. However, the RSI (14) is nearly oversold and hence suggests...
AUDUSD remains pressured inside a two-week-old descending triangle after posting heavy losses in the last week. Also favoring the downside bias is the Aussie pair’s sustained trading below the 200-EMA, as well as bearish MACD signals. It’s worth noting, however, that the RSI (14) appears mostly oversold and hence the pair’s bottom-picking around the stated...
GBPUSD portrays a bullish megaphone trend widening formation as the Cable traders await the UK employment report on Tuesday. The quote’s latest rebound from the stated pattern’s bottom line allowed it to cross the weekly resistance line. However, a clear upside break of the 100-SMA and 23.6% Fibonacci retracement of the March-May upside, near 1.2525, becomes...
After defying a three-week losing streak, the NZDUSD pair grinds higher as traders brace for Wednesday’s New Zealand quarterly employment numbers. The quote currently pokes the 100-SMA barrier surrounding 0.6190 while also eyeing a one-month-old downward-sloping resistance line, close to 0.6205 by the press time. Given the bullish MACD signals, the Kiwi pair is...
Despite rising in the last four consecutive days, the GBPUSD bulls take a breather ahead of the key UK jobs report and the US Consumer Price Index (CPI) data. That said, the three-week-old descending resistance-turned-support-line, around 1.2140 at the latest, restricts the immediate downside of the Cable pair. Following that, the 200-SMA level surrounding 1.2100...
AUDUSD bounces off 50-DMA, following a retreat from the 3.5-month-old previous support line. The recovery moves fail to justify the downbeat oscillators and Aussie data, which in turn keep sellers hopeful. That said, a daily closing below the stated short-term moving average, around 0.6880 by the press time, could convince the Aussie bears. However, the 200-DMA...
Friday’s US jobs report finally offered the much-needed bounce to the USDCAD pair. However, the Canadian employment numbers and Bank of Canada (BoC) Governor Tiff Macklem’s speech makes the current week all the more important for the Loonie pair traders. Also making the quote interesting is the latest piercing of the 1.3430 resistance confluence, comprising the...
Despite the AUDUSD pair’s south-run on the downbeat Aussie jobs report, the pair trades successfully inside a 3.5-month-long upward-sloping trend channel. That said, the overbought RSI highlights beyond an ascending trend line hurdle stretched from mid-November and the 61.8% Fibonacci retracement level, respectively near 0.7015 and 0.7090 as near-term key hurdles....
GBPUSD bulls are struggling to keep the reins as traders await crucial British economics scheduled during the week, starting with the UK jobs report. That being said, a retreat in the RSI and sluggish MACD joined the recent softness in prices to signal the Cable pair’s pullback towards the 1.2000 psychological magnet, a break of which could quickly drag the quote...
USDCAD holds onto the late December downside break of the seven-week-old ascending support line, even if the 200-SMA challenges the bears. That said, the downbeat MACD and RSI conditions also favor the Loonie pair sellers as they attack the key SMA surrounding 1.3520. Additionally challenging the bears is the double bottoms marked around 1.3485-80 during the last...
Although AUDUSD retreats from a descending trend line from early April, the 100-DMA challenges the pair bears as they cheer a retreat from a two-month high. The same paves the way for the Aussie pair’s another battle with the 200-DMA hurdle, around 0.6950 by the press time. It should be noted, however, that the overbought conditions of RSI suggest the quote’s...
GBPUSD bulls approach the key resistance line, stretched from mid-June, ahead of the UK’s employment numbers. The cable pair’s upside momentum takes clues from its successful trading beyond the 100-DMA, as well as the bullish MACD signals. However, nearly overbought RSI conditions could restrict further advances near an aforementioned resistance line, around...
USDCAD crossed a one-week-old resistance the previous day but stayed on the way to the first monthly loss in three inside a fortnight-long bearish channel. That said, the 100-SMA level surrounding 1.3725 acts as an immediate hurdle to test the pair buyers before directing them to the stated channel’s upper line, close to 1.3745 at the latest. Following that, there...
GBPUSD holds onto the previous week’s downside break of the 50-SMA and a two-week-old support line, now resistance around 1.1160. Although the nearly oversold RSI suggests limited room towards the south, the bearish MACD signals keep the bears hopeful. That said, a horizontal area comprising the lows marked during late September, around 1.0930-20, lures intraday...
Despite falling heavily after the US inflation, the AUDUSD bounced off a two-month-old support line as nearly oversold RSI pushed back the bears. The recovery, however, remains below a two-week-old horizontal hurdle surrounding 0.6770-80, which in turn joins bearish MACD signals to challenge the optimists. If the Aussie pair crosses the 0.6780 hurdle, it can...
AUDUSD broke a one-month-old bullish channel after witnessing a downbeat Aussie Wage Price Index. The south-run also gained support from the softer jobs report for July. Even so, a convergence of the 200-SMA and 50% Fibonacci retracement of the July-August upside, near 0.6900, restricts the immediate downside of the pair. It’s worth noting, however, that the RSI...
NZDUSD justifies downbeat Q2 New Zealand job numbers while refreshing weekly low, following downside break of a three-week-old bullish channel. However, the 200-SMA restricts further declines of the Kiwi pair, which in turn joins firmer China PMI to trigger the latest rebound. However, support line of the aforementioned channel, near 0.6255, guards immediate...