Author: Forex Live

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 126.13; (P) 127.10; (R1) 127.85; More… No change in USD/JPY’s outlook as correction from 131.34 is in progress. Deeper decline could be seen. But downside should be contained by 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86) to bring rebound. On the upside, break of 129.77 minor resistance will […]

USD/JPY Pair Moved into a Bearish Zone Below $130.00

The US Dollar started a fresh decline from well above 131.20 against the Japanese Yen. The USD/JPY pair traded below the 130.00 support zone to move into a bearish zone. The pair even traded below the 128.20 support and the 50 hourly simple moving average. It tested the 126.40 support zone and is currently correcting […]

USD/CHF Struggles for Bids

The Swiss franc rallied further after the SNB said it would tighten if inflation persisted. The pair has given up more than half of its gains from the past month. A fall below 0.9710 which sits on the 30-day moving average has put the bulls on the defensive. The discount and the RSI’s repeatedly oversold […]

USDJPY’s Retracement Opposed by Soaring 50-day SMA

USDJPY is trading around the lower Bollinger band residing within a support zone which is linking the 127.34 barrier with the rising 50-day simple moving average (SMA) at 126.25, the former being the 23.6% Fibonacci retracement of the uptrend from 114.40 until a high that oversteps the 20-year mark at 131.34. The hiking SMAs are […]

AUD/USD Tests Resistance

The Australian dollar continues to recover as commodities bounce higher. The rebound gained traction after it broke above the first resistance at 0.7050. A combination of short-covering and fresh buying has sent the aussie to the key supply zone near 0.7160. A bullish close would send the pair 100-pip higher to the last hurdle at […]

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2472; (P) 1.2535; (R1) 1.2599; More.. Intraday bias in GBP/USD remains neutral for the moment. On the upside, firm break of 1.2637 resistance will bring stronger rebound to 55 day EMA (now at 1.2765). On the downside, below 1.2329 minor support will retain near term bearishness and bring retest of 1.2154 first. […]

EUR/GBP Attempts Bullish Reversal

The euro continues higher fuelled by the ECB’s latest hawkish hint. Sentiment stayed bullish after the pair found support over 0.8400. A pop above 0.8530 suggests that sellers scrambled to cover their positions. The RSI’s overbought situation may temper the upward drive momentarily. As the dust settles, the bulls may look to accumulate above 0.8500 […]

NZDUSD Increases above 0.6500 in Short-term Bounce

NZDUSD is ticking higher above 0.6500 again after the bounce off the two-year low of 0.6214. The technical indicators are showing more positive signs, as the MACD is advancing above its trigger line in the negative region, while the RSI is pointing upwards after the jump above the neutral threshold of 50. Also, the pair advanced […]