GBPNZD reversed from support area Likely to rise to resistance level 1.9075 GBPNZD currency pair recently reversed up sharply from the support area lying between the key multi-month support level 1.8775 (which stopped wave (1) in April) standing outside of the lower daily Bollinger Band. The upward reversal from the support level 1.8775 will form […]

EURUSD reversed from resistance level 1.0370 Likely to fall to support level 1.0100 EURUSD currency pair recently reversed down from the resistance level 1.0370 (former monthly low from May and June) standing near the upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from June. The downward reversal from the resistance […]

The Aussie Dollar started a steady increase from the 0.6920 zone against the US Dollar. The AUD/USD pair was able to move above the 0.7000 resistance zone. It surged above the 0.7050 level and the 50 hourly simple moving average. The pair even climbed above the 0.7100 level before it faced sellers near 0.7135. A […]

EUR/USD The beginning of the week started rather calmly for the single European currency. After the market opening, the rate remained in a narrow range between 1.0260 and 1.2050. The last week’s bull losses are likely to continue, unless they attempt to test the resistance at 1.0276 and relinquish their control over to the bears. […]

Key Highlights EUR/USD struggled to stay above the 1.0350 pivot zone. A major bullish trend line is forming with support near 1.0235 on the 4-hours chart. Gold price rallied further above the $ 1,780 resistance. GBP/USD started a downside correction from the 1.2280 resistance zone. EUR/USD Technical Analysis The Euro gained pace above the 1.0220 […]

USD/JPY: On the H4, prices are still respecting the descending trend and are testing the 61.8% fibonacci retracement. If prices continue with the bearish momentum, we are looking at price pulling back to test at the first support 131.785 where the fibonacci projection as well as the previous swing low sits, subsequently testing the second […]

AUDUSD broke resistance level 0.7050 Likely to rise to resistance level 0.7150 AUDUSD currency pair recently broke the key resistance level 0.7050 (top of the earlier wave A from the start of August). The breakout of the resistance level 0.7050 coincided with the breakout of the Fibonacci cluster made out of the 50% Fibonacci correction […]

The US dollar consolidates as traders reassess future rate hike moves by the Fed. A bearish RSI divergence and MA cross on the daily chart suggest the start of a correction. A short-lived rebound came to a halt in the supply zone around 135.40 which coincides with the 20-day moving average. A follow-up break below […]

Natural gas futures (September 2022 delivery) have drifted higher again after their recent downside correction faltered. Even though the latest spike seems to have encountered resistance at the upper Bollinger band, the commodity continues to retain a bullish near-term picture. The momentum indicators suggest that buyers have regained the upper hand. Specifically, the stochastic oscillator is […]

Sterling treads water as the market expects a contraction in the UK’s Q2 GDP. The latest rebound came under pressure near the support-turned-resistance at 0.8470 which sits on the 30-day moving average. A bounce off 0.8410 showed solid interest in keeping the single currency afloat. A close above 0.8470 would send the pair to 0.8520 […]