Litecoin continues to struggle to find a directional bias in early Thursday trade, with the LTUSD pair trapped between the $125.00 to $110.00 levels. The four-hour time frame shows that a bearish head and shoulders pattern with a $20.00 downside projection still remains valid. A move above the $125.00 level may prompt buying interest back towards the important...
The euro is testing back towards its current monthly trading low against the US dollar, following multiple technical rejections from the 1.1310 level. A sustained break of the 1.1280 level may see the EURUSD pair failing back towards the 1.1255 support region. The release of the US ADP jobs report is likely to be the main market mover for the EURUSD pair later...
Bitcoin it attempting to recover bullish momentum after coming under downside pressure earlier this week below the $10,000 level. The $10,200 support level is the neckline of a bearish head and shoulders pattern with a large four-digit downside projection. The BTCUSD pair may also come under further selling pressure from the series of bearish candles across the...
The British pound has dropped sharply lower against the US dollar, following bearish comments from Bank of England Governor Mark Carney. The 1.2520 support level is likely to come into focus now that the 1.2610 level has been convincingly breached. UK PMI Services data is likely to be the main mover for the GBPUSD pair this morning, with a negative number expected...
The euro is back under pressure against the US dollar in early Tuesday trade, following slightly better Manufacturing data from the United States economy. The 1.1280 level is now key intraday support, with a sustained breakout under this level likely to spark weakness towards the 1.1255 level. The 1.1321 level now becomes the key intraday pivot point for the...
The greenback is once again firming against the Japanse yen currency, as the US dollar index climbs back above its key 200-day moving average. A sustained breakout above the 108.45 level is needed on an intraday basis to encourage further buying in the USDJPY pair. The key weekly upside targets for the USDJPY pair extended towards the 109.00 and 109.80 resistance...
Ethereum has started the new trading month poorly, with the second largest cryptocurrency slipping below the $300.00 support level. The four-hour time frame shows that a break under the $280.00 level exposes losses until at least the $265.00 level. Overall, a sustained move under the $265.00 level could trigger a much deeper bearish correction for the ETHUSD...
The US dollar has opened the new trading monthly strongly against the Japanese yen after a positive outcome from the G20 leaders meeting over the weekend. The 109.00 resistance level still remains the overall upside short-term objective for USDJPY bulls this week. USDJPY sellers may attempt to enter around this area, following the heavily bearish candle formation...
The British pound has opened the new trading month on the back foot against the US dollar, following a heavy technical rejection from the 1.2730 area on Friday. UK PMI Services data and ISM Manufacturing data are the big drivers for the GBPUSD pair today. Continued weakness is likely to prompt a technical test of the key 1.2660 level, which is likely to act as a...
Bitcoin has started to settle into a large trading range after the number one cryptocurrency found strong resistance from the $14,000 level last week. Selling the top-end of the BTCUSD pairs is range the preferred strategy until technical readings on the daily time frame correct from overbought. The $11,800 level is the key pivot point for the BTCUSD pair and also...
The British pound is softening towards key weekly support aginst the US dollar ahead of the release of GDP data from the UK economy this morning. A worse than expected GDP number could see the GBPUSD pair break the 1.2660 support level and test towards at least the 1.2610 area. If bulls can hold support the GBPUSD pair could start to edge back towards the 1.2710...
The euro currency remains trapped in a tight range against the US dollar as traders scale back positioning ahead of the start of the G20 Summit. The four-hour time frame is showing that the EURUSD pair is currently trading within a neutral pattern. The pattern is highlighting that a twenty-five pip breakout move is likely once the EURUSD pair picks a directional...
Litecoin has started to turn bearish alongside the broader cryptocurrency market after falling below the key $125.00 level. The four-hour time frame is also showing that the LTCUSD pair has now broken under key trend-line support. Weakness in the LTCUSD pair should be expected in the short and medium-term while the price continues to trade below the pivotal...
The British pound has gradually edged back under the 1.2700 level against the US dollar after bears failed to break the 1.2710 resistance level. The GBPUSD pair is currently neutral until a clear technical break from the 1.2660 to 1.2710 price range occurs. Overall, the GBPUSD pair is likely to be driven by the slew of macroeconomic data being released from the UK...
Ethereum has started to reverse from the $360.00 level after following higher and surging to its highest level in over eighteen months. It maybe to early to call a top in the ETHUSD pair as a bullish pattern with a target of $490.00 is still in progress. Sellers need to move the ETHUSD pair under the $310.00 support level to encourage short-term sellers back into...
The euro currency continues to trade towards the lower-end of its weekly range against the US dollar as the pair becomes increasingly driven by important US data. Bulls may need weak US data to break the 1.1400 level and take a shot at the 1.1440 resistance level. Much better than expected United States data over the coming sessions may prompt the EURUSD pair to...
The British pound has reversed sharply from the 1.2780 level against the US dollar as UK political woes once again force the pair lower. A sustained break of the pivotal 1.2660 level could send the GBPUSD pair back towards its former weekly trading low. Bulls need to move the pair back above the 1.2710 resistance level in order to encourage intraday bulls back...
The euro has slipped back from the 1.1400 level against the US dollar following Federal Reserve Chair Jerome Powells speech on Tuesday. The EURUSD pair can weaken towards the 1.1260 level if sellers start to hold price below the important 1.1360 level. Bulls need to move price past the 1.1400 level to encourage technical buying towards at least the 1.1440...