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EUR/USD hovers near 1.1200; maintains weak bias in the near term. EUR/USD has been under pressure over the last three weeks as it failed several times to jump above the short-term simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the down-leg from 1.1815 to 1.1106 near 1.1275. Short-term momentum indicators
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The British pound remains in the eye of the storm, as markets are waking up to the risk that a no-deal Brexit in October may be incoming Prime Minister Johnson’s preferred route. The coming week will be decisive, as the Cabinet ministers, Johnson picks could reveal much about his strategy.
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USD/TRY pulls back from 4-month lows; bearish in the short term. USD/TRY has been in a downtrend over the last two months following the pullback on the seven-month high of 6.2440. The pair is holding beneath the 20- and 50-simple moving averages (SMAs), however, the momentum indicators are signaling for some gains
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GBP/CAD tumbles from congested areas; buyers try to gain some control. GBP/CAD slipped aggressively from the May 6 top of 1.7727, breaking through the congested support lines formed during the August 2018-March 2019 up-leg, with buyers only seeming to make progress installing this down push yesterday. The short-term simple moving averages (SMAs) of
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USD/CAD experienced an uneventful week, moving sideways between the 20-day simple moving average (SMA) and its new ten-month low of 1.3015. In Ichimoku indicators, the red Tenkan-Sen is flattening well below the blue Kijun-Sen, while the RSI and the MACD keep gaining ground in the bearish territory, all signaling a neutral bias
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GBP/JPY shows signs of a fading descending move; indicators increase. GBP/JPY is still facing signs of a fading descending move as the RSI and the MACD keep moving higher, posting a positive divergence at a time when the price seems to be edging lower in the daily timeframe. Currently, the pair is finding strong resistance at the red
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The S&P 500 stock index has pulled back somewhat after touching an all-time high of 3,020 in the prior week, reversing back below the red Tenkan-Sen line. Momentum indicators now suggest that the market sentiment might get worse before getting better as the RSI is approaching the neutral area again and
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NZD/CHF’s 100-SMA and 50.0% Fibonacci become a double opponent obstacle. NZD/CHF saw some positive divergence in the last several weeks on the RSI which helped it to bounce back from a three-month high tumble from 0.6913 to an eight-month low of 0.6423. Since yesterday the price is trading above the 38.2% Fibonacci
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USD/JPY tests key support; stochastics oversold. USD/JPY attempted to cross above the 50-day simple moving average (SMA) and reach the 109 level last week but efforts proved fruitless, with the price resuming negative momentum towards the key 61.8% Fibonacci retracement level of the up-leg from 104.64 to 112.39. The downward-sloping RSI suggests
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NZD/USD violates the double bottom pattern; bulls back into play. NZD/USD successfully surpassed the long-term 200-day simple moving average (SMA), gaining some ground and is holding near the three-month high of 0.6745 that it posted on Wednesday. The double bottom formation that was created around the 0.6480 – 0.6490 support levels with a neckline at
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