Blogs

<p>AUDUSD currently looks inactive between the mid-Bollinger band and the 50-period simple moving average (SMA) after pivoting down from a two-month high of 0.6615. The correction from the 17½-year low of 0.5506 also seems to have gradually slowed from the end of April, ahead of the 0.6684 peak. Additionally, the short-term oscillators mirror

<p>The US 500 index (Cash) has finally reversed to the upside last Friday after flirting with the 50-period simple moving average (SMA) around 2,906. The upward pattern started at the end of March, but the market needs to beat the immediate resistance at 2,980 for more significant increases. Above that the market could meet the […]

<p>The US dollar remains well-supported against the Japanese yen currency as traders continue to buy any dips towards the 107.00 level. Technical analysis shows that bulls need to defend the 107.30 level this week to keep the recent bullish bias in play. Traders should be aware that a breakout above the 108.00 level could cause […]

<p>Bitcoin is under pressure at the start of the trading week, following a heavy bearish breakout below the $9,000 support level. Going forward, a daily price close below the $8,500 level could cause the BTCUSD pair to weaken towards the $7,700 technical area. Bearish stochastic price divergence on the four-hour time frame is also warning [&h

<p>Notes/Observations Quiet price action with UK closed for banking holiday, US closed for Memorial Day holiday German May IFO Survey less pessimistic and sees light at the end of the tunnel as lockdown measures ease German Q1 GDP reading confirmed a technical recession for the country EU Commission expected to unveil its recovery plan on [&h

<p>The Euro rose to 1.09 handle on Monday, inflated by better than expected German Ifo data (May 79.5 vs 74.2 previous and 78.3 f/c). German business morale improved in May as pandemic restriction eased, signaling the economy takes recovery path following dramatic fall previous months, with GDP data, released earlier today (Q1-2.2% from -0.1%

<p>On Friday, the XAU/USD exchange rate tried to surpass the resistance formed by the 55– and 100-hour SMAs near 1,737.00. During today’s morning, the rate pierced the lower line of the rising wedge pattern. Note that yellow metal is also pressured by the 200-hour SMA near 1,733.00. Thus, it is likely that a breakout south […]

<p>During the previous trading session, the USD/JPY currency pair touched the 200-hour SMA at 107.40. During Monday morning, the pair was trading at 107.75. Given that the exchange rate is supported by the 55– and 100-hour SMAs near 107.65, it is likely that some upside potential could prevail in the market. In this case the […]

<p>At the end of last week, the GBP/USD exchange rate consolidated at 1.2180. During Monday morning, the rate maintained its consolidation. Note that the currency pair is pressured by the 55-, 100– and 200-hour SMAs in the 1.2200 area. Thus, some downside potential could prevail in the market. It is likely that the pair could […]

<p>On Friday, the EUR/USD currency pair declined to the support level—the Fibo 23.60% and the 200-hour SMA at 1.0886. During today’s morning, the pair pierced the given support. It is likely that the exchange rate could remain under pressure of the weekly and monthly PPs at 1.0908. Thus, some downside potential could prevail in the [&he