The precious metal is trading mixed with price action steady near the 1900 -1911.50 level. There is a minor resistance level building up near the 1920 handle. If price action breaks past this level, it will potentially trigger further gains. The next upside target will be the 1980 handle, where price tested this level before […]
Tesla stock price has declined after touching the 466.12 resistance level, edging towards the 50-day simple moving average (SMA), failing to improve the bullish picture in the long term. The stochastic oscillator entered the oversold zone, while the RSI indicator is sloping south, meeting the neutral threshold of 50. The next immediate support is coming […]
The euro currency has moved to a four-week trading high against the US dollar, as traders are more positive towards US stimulus talks. Technical analysis shows that a large inverted head and shoulders pattern has started to form on the lower time frames. Continued gains above the 1.1840 level is required to activate the mentioned […]
Litecoin is trading with a cautious tone in early-Wednesday trade as the top altcoins are so far failing to follow Bitcoin higher. If the LTCUSD pair starts to follow Bitcoin higher then a rally towards the $ 57.00 level should be expected over the medium-term horizon. Technical analysis shows that a major breakout from a […]
Elliott Wave view in EURUSD suggests that cycle from September 25 low is in progress as a double three structure. Up from September 25 low, wave W ended at 1.1831 and wave X pullback ended at 1.1686 as a zigzag. Down from wave W high at 1.183, wave (i) ended at 1.1777 and wave (ii) […]
Daily Pivots: (S1) 0.7022; (P) 0.7047; (R1) 0.7074; More… AUD/USD’s decline lost momentum ahead of 0.7005 support and recovered. Intraday bias is turned neutral first. Further fall is expected as long as 0.7114 resistance holds. Break of 0.7005 will resume the corrective fall from 0.7413 to 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, […]
STOCKS Dow and DAX continue to remain under pressure. Dow looks vulnerable for a fall to 27000-26500 while it remains below 29100. DAX can fall to 12400 and even deeper. Nikkei is stuck in a narrow of 23500-23800. Shanghai looks mixed and has equal chances of moving on either side from current levels within its […]
Key Highlights Gold price is still facing a strong resistance near $ 1,920. A bullish trend line is forming with support at $ 1,895 on the 4-hours chart of XAU/USD. EUR/USD rallied sharply above the 1.1780 and 1.1800 resistance levels. The UK Consumer Price Index could increase 0.5% in Sep 2020 (YoY), up from +0.2%. […]
Daily Pivots: (S1) 105.32; (P) 105.41; (R1) 105.52; More… USD/JPY recovers today but stays below 106.10 resistance. Intraday bias remains neutral at this point. Another rise is still in favor with 104.94 support intact. On the upside, break of 106.10 will resume the rebound from 104.00 for 106.94 resistance. Sustained break there should confirm completion […]
Daily Pivots: (S1) 1.2890; (P) 1.2957; (R1) 1.3017; More… Intraday bias in GBP/USD stays neutral for consolidation from 1.3082. Further rise is still in favor with 1.2845 support intact. On the upside, above 1.3082 will resume the rebound from 1.2675 for retesting 1.3482 high. On the downside, however, break of 1.2845 will indicate that fall […]