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AUD/USD looks for improvement within the descending channel. AUD/USD declined to close below the Ichimoku cloud and the short-term downward-sloping channel on Tuesday, with the price changing direction slightly north and back into the 0.6800 area. Technically, the rebound in the RSI and the pause in MACD’s negative momentum is an encouraging signal for
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EUR/USD rally above 1.1100 likely to resume a bullish appetite. EUR/USD slipped back into the 1.1000 level after the 23.6% Fibonacci of 1.1108 of the up-leg from 1.0878 to 1.1178 ceased last week’s rally that surpassed the neckline of the double top bearish formation in the four-hour chart. The 50-period simple moving
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EUR/GBP slumps to 2 ½-year low; may pause selling in the short-term. The negative momentum in the MACD that returned below its signal line shifts the spotlight to the 0.8300 level. Yet, the RSI and the Stochastics suggest that selling pressure may ease before the pair heads lower as the indicators are already
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GBP/USD runs to 8-month high; overbought near key resistance. GBP/USD closed significantly above the tentative descending trendline stretched from the 2018 high of 1.4375 that looked to be part of a bullish pennant formation. The price inched up to an eight-month high of 1.3179 on Monday but remained close to the key 1.3175 resistance mark, with the RSI and
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USD/CAD sellers retake control in a range-bound market. USD/CAD looks to be pushing lower with sellers trying to form a clear-cut direction. The recent ascent from 1.3041 failed to reach the resistance structure and sellers reversed the price back down from the 1.3289 area – which is the 50.0% Fibonacci retracement of
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USD/JPY, despite the recent fading in the pair, continues to find support from the 50-day simple moving average (SMA) and the 108.42 level, which is the 50.0% Fibonacci retracement of the down leg from 112.39 to 104.45. The intact positive picture looks to be easing into a more sideways outlook, something
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GBP/JPY bulls likely to keep control; descending trendline in focus. GBP/JPY is surrounded by positive vibes on the daily chart, increasing optimism that there is more room for improvement in the market. The bulls geared up to seven-month highs and further above the upward-sloping 20-day simple moving average (SMA) after the price
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S&P 500 index (US 500) stumbles, but positive outlook intact for now. The S&P 500 index fell this week, after briefly touching a new all-time high of 3158. The picture is still positive, with the price structure consisting of higher peaks and higher troughs above a long term uptrend line drawn from
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EUR/GBP capped by 20-day SMA; the short-term bias is bearish-to-neutral. EUR/GBP started the month on the downside as buyers could not close above the 20-day simple moving average (SMA) that has been restricting upside corrections over the past four weeks. The short-term bias is currently viewed as bearish-to-neutral as the RSI looks to be
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GBP/USD while directionless is attempting a new push towards the five-month high of 1.3011, which is aided by the recent bullish crossover of the 200-day simple moving average (SMA) by the 50-day one and the rising slopes of the 50- and 100-day SMAs. The technical indicators suggest that positive momentum is
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