Blogs

BTCUSD May Test $7,000 Again

Forex

<p>Bitcoin is struggling to move above its key 50-day moving average as the recent rally in the cryptocurrency markets starts to lose momentum. It is possible that the BTCUSD pair could fall back towards the $7,000 level if bulls fail to make a new higher daily high. A breach of the $7,485 resistance level could […]

USDJPY Bearish Below 109.00

Forex

<p>The US dollar remains under downside pressure on Wednesday against the Japanese yen as bullish struggle to move price above the 109.00 level. The USDJPY pair could fall back towards the 107.60 level if bulls continue to struggle move price above this key technical area. If USDJPY bulls close the daily candle below the 107.60 […]

XAU/USD Supported By 55-Hour SMA

Forex

<p>On Tuesday, the XAU/USD failed to surpass the 1,670.00 level. During today’s morning, the rate was trading at the 1,650.00 level. Given that yellow metal is supported by the 55-hour SMA near 1,650.00, it is likely that some upside potential could prevail in the market. In this case the exchange rate could surpass the 1,670.00 [&helli

USD/JPY Breached Rising Wedge Pattern South

Forex

<p>Yesterday, the USD/JPY currency pair breached the rising wedge pattern south. During Wednesday morning, the pair was trading in the 108.90 area. Note that the exchange rate is pressured by the 55-hour SMA near 109.00. Thus, some downside potential could prevail in the market. In this case the rate could gain support from the Fibo […

GBP/USD Tests Short-Term Channel

Forex

<p>Yesterday, the GBP/USD exchange rate was testing the upper boundary of the short-term descending channel. During Wednesday morning, the rate continued to test the given line. From a theoretical perspective, it is likely that some downside potential could prevail in the market. In this case the currency pair could target the Fibo 38.20% at

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