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....
GBPUSD extends pullback from 1.3090 ahead of the key UK data, as well as a speech from the BOE Governor Andrew Bailey, during early Friday. The downside bias also gains support from the sluggish RSI and MACD, which in turn suggests the pair’s further weakness towards the support line of a six-week-old triangle, near 1.2990 at the latest. Following that, the...
Be it the March PMIs or US Durable Goods Orders, not to forget the key NATO meeting, Thursday has it all to trigger market volatility. Gold has already printed a bear cross but the 200-SMA has been defending bulls so far, suggesting a tough fight between the buyers and sellers. However, lower-high formation since the early days of March, as well as sluggish MACD...
GBPUSD keeps pullback from 200-DMA and 78.6% Fibonacci retracement (Fibo.) of September-December 2021 downside around a short-term crucial support convergence near 1.3540-35, including 100-DMA and 50% Fibo with eyes on monthly UK PMI data. That said, recently upbeat UK economics renews BOE rate hike concerns, which in turn could trigger the pair’s bounce from the...
GBPUSD keeps the 50-DMA breakout to battle the 100-DMA as traders await final readings of UK Services PMI for December, as well as the US ISM Services PMI for the said month. Although the key DMA breakout and bullish MACD hints at the cable pair’s further upside, a clear run-up beyond the 100-DMA level surrounding 1.3555 becomes necessary for the bulls to rise...
Despite bouncing off a four-week low, gold prices are vulnerable to further downside as sustained trading below the two-month-old support line, now resistance, joins the bearish cross-over of the 200-SMA to 50-DMA. That said, 78.6% Fibonacci retracement (Fibo.) of September-November upside, near $1,755, may restrict short-term declines of the yellow metal ahead of...
Gold prints four-day uptrend, tracking monthly support line amid early Friday. However, a convergence of the 100 and 200-DMAs near $1,795 offers a tough nut to crack for the bulls. Should the quote rise past $1,795, the mid-September peak near $1,809 may offer an intermediate halt during the run-up targeting the $1,834 crucial resistance, marked twice in 2021....
EURUSD extends the previous day’s downside break of an ascending support line from March 31 on early Thursday. In doing so, the currency pair prints the heaviest losses in over a week ahead of the key US ADP Employment Change and ISM Services PMI. Though, bullish MACD and upbeat RSI could trigger the quote’s bounce off 21-day SMA level of 1.2172, if not then April...
AUDUSD bulls step back from a convergence of a three-week-old resistance line and 100-SMA following RBA’s hints to July action. The Aussie pair drops to 0.7735 before the European session amid cautious sentiment ahead of the US ISM Manufacturing PMI for May, expected to remain unchanged near 60.7 level. In addition to the 0.7760-65 resistance confluence, a...