Yesterday, the XAU/USD exchange rate revealed a short-term descending channel. From a theoretical point of view, it is likely that the exchange rate could target the upper channel line located circa 1,969.00. Then, a reversal south could follow. In the meantime, it is unlikely that bears could prevail in the market, and the price for […]
On Thursday, the USD/JPY currency pair declined to the 104.60 level. During today’s morning, the pair declined below the given level. Given that the exchange rate is pressured by the 55-hour moving average near 104.90, it is likely that some downside potential could prevail in the market. Note that the nearest support level—the monthly S2, […]
The GBP/USD exchange rate remains to trade below the psychological level at 1.3000. It is likely that the currency pair could gain support from the 55-hour moving average near 1.2950 and extend gains within the following trading session. In this case the pair could target the 1.3050 mark. However, if the given psychological level holds, […]
The EUR/USD currency pair has revealed a medium-term descending channel. Yesterday, the pair reversed north from the lower channel line at 1.1740. It is likely that the exchange rate could re-test the upper channel line located circa 1.1890 in the nearest future. If the given channel holds, it is likely that a reversal south could […]
The New Zealand Dollar surged by 79 points or 1.18% against the US Dollar on Thursday. The currency pair breached the upper boundary of an ascending channel pattern on Friday morning. Given that a breakout has occurred, the exchange rate could continue to edge higher during the following trading session. The potential target for the […]
The US Dollar has declined by 91 points or 0.69% against the Canadian Dollar since Thursday’s trading session. A breakout occurred through the lower boundary of a descending channel pattern on Thursday. Given that a breakout has occurred, the exchange rate could continue to edge lower during the following trading session. The potential target for […]
The Australian Dollar surged by 51 points or 0.70% against the US Dollar on Thursday. The currency pair breached the 50-, 100– and 200– hour SMAs during yesterday’s trading session. All things being equal, bullish traders could continue to pressure the AUD/USD exchange rate higher during the following trading session. The potential target will be […]
NZDUSD is clashing with the 0.6789 to 0.6800 resistance band following its latest climb from 0.6600, which produced a 17½-month high. The recent pickup in the 50- and 100-period simple moving averages (SMAs) suggest further appreciation in the pair, while the merged Ichimoku lines continue to aid the positive drive in price. The short-term oscillators […]
The EUR/JPY currency bounced off the bottom border of a descending channel pattern at 123.37 on Thursday. As a result, the common European currency surged by 76 points or 0.61% against the Japanese Yen. Everything being equal, the exchange rate could continue to edge higher during the following trading session. A breakout through the upper […]
The Nasdaq (NQ 100) is testing the support zone for the 3rd time (top blue box). Will the NQ100 index finally make a bullish bounce? Or will the pullback retrace deeper towards the next support zone Price Charts and Technical Analysis – advertisement – The NQ 100 is likely to make a bullish bounce in […]