The US dollar is trading lower against the Japanese yen currency after a technical break below the 108.90 support level. Further intraday losses towards the 108.20 level remain possible while the USDJPY pair trades below the important 108.90 level. Overall, sustained gains above the 109.30 level are needed to encourage a technical test of the 110.00 resistance...
Bitcoin is still under downside pressure on Thursday as buyers struggle to secure the cryptocurrency back above the $9,000 resistance level. A bullish daily price close above the $9,250 resistance level is needed to stabilize the BTCUSD pair in the short-term. Overall, the BTCUSD pair still has a strong chance of moving back towards its current monthly trading...
The euro has managed a marginal recovery from the 1.1000 level against the US dollar, following a technical battle in this area on Tuesday. EURUSD bulls need to advance the pair above the 1.1042 level to confirm that a short-term price floor is now in place. Overall, traders will start to turn bullish towards the EURUSD pair on an intraday basis if the 1.1065...
The British pound is holding firm against the US dollar currency, with the pair trading around the important 1.2850 level ahead of key inflation data from the UK and US economies today. The GBPUSD pair ideally needs to firm above the 1.2880 level to secure further gains towards the 1.2940 resistance level. Overall, GBPUSD bulls who are not already long from the...
Ethereum is under downside pressure alongside the broader cryptocurrency market on Wednesday, although the second-largest cryptocurrency continues to hold the $180.00 level. The ETHUSD pair still stands a respectable chance of recovering towards the $250.00. Overall, a strong upside rally in the BTCUSD pair would be highly advantageous to the ETHUSD pair right...
Litecoin remains trapped around the $60.00 level as almost the entire cryptocurrency market comes under bearish selling pressure. LTCUSD bulls need to defend the $57.00 level to avoid further downside in the pair towards the $50.00 level. Overall, the LTCUSD pair still has a chance of achieving its near-term target of $90.00, while trading above the $57.00 support...
The euro currency has managed to bounce from the 1.1010 technical area against the US dollar, although upside momentum is currently lacking. EURUSD bulls need to force an intraday recovery above the 1.1065 level to secure a test of the 1.1120 resistance level this week. Overall, sustained weakness below the 1.1020 level should be considered bearish for the EURUSD...
The British pound has performed a sharp reversal from the 1.2770 level against the US dollar after the chances British PM Boris Johnson securing a majority Parliament victory increased. Continued strength above the 1.2880 level is now needed to secure an important technical test of the 1.2940 resistance level. Overall, the GBPUSD pair could have formed an...
The euro currency is drifting lower in early week trade against the US dollar, with the pair so far failing to attract a meaningful bid. The 1.1000 level is huge for the EURUSD this week, with bulls needing to step in from this key area to avoid a steep decline towards the 1.0930 area. Overall, watch out for a strong bullish counter-move to occur if the EURUSD...
The British pound is under threat against the US dollar on Monday as traders await a slew of high-impacting data from the UK economy this morning. Worse than expected UK data could sink the GBPUSD pair lower towards the 1.2740 support area. Overall, traders have few reasons to be bullish towards the GBPUSD pair this week unless the 1.2940 level is successfully...
Bitcoin is attempting to recover in early week trade after the number one cryptocurrency came under heavy bearish pressure last Friday. BTCUSD bulls need to defend the $8,700 support level this week to avoid further loses towards the $8,400 technical region. Overall, traders that are bullish towards Bitcoin will attempt to force a recovery towards the $9,800...
The British pound is under heavy downside pressure against the US dollar after the recent dovish Bank of England meeting heightened technical selling. The GBPUSD pair risks falling towards the 1.2740 level, although the 1.2710 level is the main support area. Overall, selling any rallies towards the 1.2850 resistance level is the preferred intraday strategy when...
The US dollar is increasingly bullish against the Japanese yen currency, following a sharp bounce from the pivotal 108.60 support level. The USDJPY pair is likely to test towards the 110.00 level if the 109.60 resistance level is overcome later today. Overall, an even stronger rally towards the 110.80 level is still possible, as the USDJPY pair continues to...
Ethereum has pulled back from the $190.00 resistance level after buyers failed to performed a breakout above the $200.00 resistance level. Despite the recent move lower, the ETHUSD pair still has a bullish intraday bias while trading above the $180.00 level. Overall, the ETHUSD pair still has the potential to trade towards the $250.00 level while trading above the...
Bitcoin has been frustrating traders this week as the number one cryptocurrency struggles to find a clear trending directional bias. Despite the lack of movement, the BTCUSD pair still retains its bullish short-term outlook while trading above the $8,900 support level. The $10,600 and $11,000 level remain the main bullish targets if the BTCUSD pair find strength...
The British pound remains vulnerable to further decline against the US dollar as the pair weakens under the 1.2850 level. Going forward, a loss of the 1.2790 level could expose the GBPUSD pair to a technical test of the important 1.2710 support level. A more dovish Bank of England policy meeting later today also has the potential to push the GBPUSD pair...
The euro bulls have been unable to defend the 1.1065 level against the US dollar, which has pushed the pair back towards the 1.1050 level. It is worth reiterating that the loss of the 1.1065 support level may trigger heavy selling in the EURUSD pair towards the 1.1030 or 1.1010 level. Overall, intraday strength in the US dollar index is a key factor behind...
The euro currency is under pressure against the US dollar on Wednesday, following a bearish move below the 1.1110 technical level. A breakout below the 1.1065 support level could spark a deeper drop in the EURUSD pair towards the 1.1030 level. Overall, traders may use a technical pullback towards the 1.1000 level as an opportunity to build medium-term EURUSD long...