Author: Forex Live

Gold Loses Steam Near 1,959 Resistance; Bias Neutral-to-Bearish

Gold could not find enough buyers to cross the key resistance of 1,959 last week, with the price tumbling to 1,933 early on Monday. The short-term bias is looking neutral-to-bearish as the RSI keeps fluctuating around its 50 neutral mark. The Stochastics have lost steam and are set for a downside reversal, while the MACD remains negatively […]

Daily Technical Analysis

EUR/USD The EUR/USD is testing the support at 1.0974 yet again during the early hours of today`s trading.. A confirmation of the breach here could deepen the decline and could lead to a test of the target at 1.0900, followed by the lower zone at 1.0846. However, if the bearish momentum fades and the bulls […]

EUR/AUD Weekly Outlook

EUR/AUD’s decline from 1.5327 continued last week and hit as low as 1.4591. In spite of diminishing downside momentum, initial bias stays on the downside this week for 1.4561 support. Decisive break there will resume larger down trend from 1.9799. Next target is 1.3623 projection level. On the upside, above 1.4804 minor resistance will delay […]

Technical Outlook and Review

DXY: On the H4 timeframe, prices are consolidating in a triangle pattern. We see the potential for a bounce from our 1st support at 98.965 in line with 23.6% Fibonacci retracement towards our 1st resistance at 99.292 in line with 127.2% Fibonacci projection. Prices are trading above our ichimoku cloud support, further supporting our bullish […]

EUR/USD Could Resume Decline Below 1.0950

Key Highlights EUR/USD started a fresh decline from the 1.1135 region. A key bearish trend line is forming with resistance near 1.1050 on the 4-hours chart. GBP/USD is consolidating below the 1.3220 resistance zone. Gold and oil price might start another increase. EUR/USD Technical Analysis The Euro failed to clear the 1.1135 resistance zone against […]

EUR/GBP Weekly Outlook

EUR/GBP dropped sharply to 0.8294 last week but recovered since then. Initial bias is neutral this week first. On the downside, below 0.8294 will resume the fall from 0.8456 to retest 0.8201 low. Firm break there will resume larger down trend. On the upside, however, break of 0.8456 will resume the rebound from 0.8201 to […]

GBP/JPY Weekly Outlook

GBP/JPY’s strong break of 158.19 resistance last week confirmed resumption of larger up trend. Initial bias stays on the upside this week. Next target is 61.8% projection of 136.96 to 158.19 from 150.95 at 164.07. On the downside, however, break of 159.01 minor support will tun intraday bias neutral, and bring consolidations first, before staging […]

USD/CAD Weekly Outlook

USD/CAD’s strong break of 1.2586 support last week confirmed completion of rebound from 1.2448. Initial bias remains on the downside this week. Firm break of 1.2448 will argue that whole corrective pattern from 1.2005 has completed and bring retest of this low. On the upside, above 1.2585 minor resistance will turn intraday bias neutral and […]

AUD/USD Weekly Outlook

AUD/USD’s break of 0.7440 resistance last week confirmed resumption of rise from 0.6966. Initial bias remains on the upside this week for 0.7555 resistance. Decisive break there should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should then be seen back to retest 0.8005. On the downside, below 0.7465 minor […]

USD/CHF Weekly Outlook

USD/CHF gyrated lower to 0.9259 last week but recovered. Initial bias is turned neutral this week first. On the upside, break of 0.9374 minor resistance will suggest that the pull back from 0.9459 has completed. Support from 55 day EMA will also retain near term bullishness. Intraday bias will be back on the upside for […]