The British pound is starting to trade towards the 1.2850 level against the US dollar, after the pair hit its highest trading level since May 2019 on Thursday. A medium-term price high could be in place for sterling if UK lawmakers fail to approve the new Brexit deal over the weekend. Overall, the GBPUSD pair is vulnerable to further selling while trading below...
Bitcoin looks set to close the trading week in the red, as the number one cryptocurrency by market capitalization fails to rally from the $8,000 support level. The $7,900 level is the key level to watch today if weakness persists under the $8,000 level today. A sustained breakout of the $7,900 level is likely to trigger heavy BTCUSD technical selling towards the...
The British pound is moving away from the 1.2876 level against the US dollar after the pair traded to a new monthly high on Wednesday. The recent breakout above the 1.2720 level is a bullish development for the GBPUSD pair and has increased dip-buying interest. Overall, medium-term analysis is still showing that the GBPUSD is unlikely to break the 1.2900...
Litecoin has come under severe downside pressure towards the $50.00 level, following a heavy decline in the broader cryptocurrency market. Sellers could now target the $36.00 support level, as it has been a long-term bearish target that has yet to be reached. Overall, the LTCUSD pair will need to rally above the $60.00 resistance level to reduce intraday bearish...
The euro continues to enjoy strong buying interest against the US dollar, with the pair trading around the best levels of the week so far. According to technical analysis for the daily time frame, the 1.1110 level is currently the weekly bullish target for EURUSD bulls. Only a sustained loss of the 1.0990 support level will turn the intraday sentiment towards the...
The euro currency has received a much-needed boost against the US dollar, following the release of bullish Brexit news of Tuesday. The EURUSD pair has reversed from the 1.0990 technical area and may start to target the 1.1070 resistance area if bulls can maintain the advance. Overall, the EURUSD pair has recently become a strong buy on any short-term technical...
Ethereum is consolidating towards the worst levels of the week in early Wednesday trade, as the second-largest cryptocurrency struggles to find buying interest. Short-term bulls are only in control of the ETHUSD pair while price trades above the key $180.00 support level. Overall, buyers need to force a breakout above the $197.00 resistance level this week or the...
The US dollar has moved to fresh multi-month trading high against the Japanese yen currency after buyers broke through the 108.60 level on Tuesday. The USDJPY pair may test the 109.30 resistance level if bulls can maintain price above the 108.60. Overall, medium-term analysis shows that the USDJPY pair could reach the 110.00 level if bullish momentum continues to...
The British pound is trading back above the 1.2600 resistance level against the US dollar after the pair found strong dip-buying demand from the 1.2515 support level. GBPUSD traders are now awaiting a raft of UK macroeconomic data this morning, which should provide the next short-term directional move. The 1.2770 level offers extended resistance, while the 1.2480...
The euro currency is holding above the 1.1000 level against the US dollar in early Tuesday trade, as selling momentum in the EURUSD pair starts to fade. EURUSD bulls may use any pullbacks towards the 1.1000 level as a buying opportunity. EURUSD buyers now need to force price above the 1.1044 level in order to encourage a technical test of the 1.1070 resistance...
Litecoin has lost recent upside momentum after the fifth-largest cryptocurrency was rejected from just below the $60.00 resistance level. The recent rejection puts the $50.00 support level in focus, which is a key trigger level this month. A loss of the $50.00 level could spark a major decline towards the $36.00 support level. • If the LTCUSD pair trades above...
The US dollar is trading towards the best levels of the month against the Japanese yen currency, following the recent announcement of a Sino-US trade deal. The USDJPY pair could soar toward the 110.20 level if we see a sustained break above the 108.90 level this week. Any technical pullbacks in the USDJPY pair should find strong technical support from the 107.45...
The British pound is starting to give back gains against the US dollar after the pair found strong resistance from its 200-day moving average, around the 1.2720 level. A sustained break under the 1.2580 level could the GBPUSD pair falling towards the 1.2485 level this week. Dip-buyers are likely to move in strongly from the 1.2485 level if we see a pullback in the...
Bitcoin has opened the new trading week with a more positive tone, as the number one cryptocurrency stabilizes above the $8,100 level. A break above the $8,600 resistance level should support an important technical test of the $9,100 level this week. A bearish break under the $8,100 support level could see the BTCUSD pair falling quickly towards the $7,500 level...
The euro is holding above the 1.1000 level against the US dollar in early Friday trade, although the pair is struggling to move past the 1.1030 resistance level. The EURUSD pair faces a moment of truth, with sellers poised to move if the 1.1000 support level is broken. Overall, buyers are still in control while the EURUSD pair starts to stabilize above the...
Bitcoin is attempting to hold onto recent trading gains, despite a negative decision from the SEC over a potential Bitcoin Exchange Trade Fund. The BTCUSD pair has broken above its recent trading range and now needs to break above its 200-day moving average, around the $8,600 level. Once above the $8,600 level, the $9,100 level offers formidable technical...
The US dollar is trading towards the best levels of the week against the Japanese yen, following reports that a minor Sino-US trade deal may be on the cards. The 108.50 level is now the key technical area that bulls will need to break to encourage a test of the 108.80 level. Overall, the USDJPY pair now has a strong bullish bias while trading above the 107.45...