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EUR/USD bounces off a 34-month low; nearby resistance may be more durable. EUR/USD finally found some footing around a 34-month low of 1.0777 last week following the heavy sell-off from the beginning of the month, with the price strengthening towards the 1.0800 level on Friday. The rebound, however, has not convinced traders
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Gold at fresh 7-year high; strongly bullish on virus fears. Gold surged to a fresh seven-year high earlier today, hitting the 1,679.65 level and continuing the sharp upside extension, posting a gap up. The market recorded four consecutive green days and opened the door for a long-term clear positive direction, following the
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EUR/AUD hits fresh highs; some bullish action may be in store. EUR/AUD gathered significant positive traction this week, breaking above its simple moving averages (SMAs) and the Ichimoku cloud on the four-hour chart. While the RSI is testing the 70 overbought level again, increasing the odds for a downside correction, it has
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USD/CAD has found a strong support area near the penetrated descending trend line and the 38.2% Fibonacci retracement level of the bearish move from 1.3664 to 1.2950 around 1.3220. In the short-term, the outlook seems to turn slightly bullish after the jump towards the 1.3325 resistance and the momentum indicators are
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GBP/AUD is heading up following the rebound on the 20-day simple moving average (SMA) currently at 1.9347. The upside tendency is continuing since July 2019 with the technical indicators confirming the bullish structure. The RSI is pointing up, above the 50-neutral threshold, while the MACD is in the process to post
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USD/JPY has an impressive upside rally on Wednesday’s trading session, surging to a fresh nine-month high of 111.58 and also recovering the gap that was created last May. The aggressive run helped the pair to add more than 150 pips in just one day, increasing the distance from the rising trend
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EUR/GBP stops near a 2½-year low; neutral zone intact. EUR/GBP is trading near its weakest level since 2017, following a plunge from the 0.8385 level in the preceding week. The pair created a consolidation area from 0.8275 to 0.8590 since December 13 but is still moving below the short- and medium-term moving
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EUR/JPY is currently aggressively overtaking the mid-Bollinger band and the 118.96 resistance level, after having pivoted at the 118.46 support (an inside swing high from 27 September 2019), thus producing a four-month low. Despite the prevailing one-month decline reflected in the downward sloping simple moving averages (SMAs) and by the tentative
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Silver staged a remarkable rally beyond the 18.00 number after closing above the 200-period simple moving average (SMA) on the four-hour chart on Tuesday. With the RSI signalling overbought conditions and the price currently testing a former resistance area which is near the 23.6% Fibonacci of the long up-leg from 13.87
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AUD/USD is moving sideways within the 23.6% Fibonacci retracement level of the downward wave from 0.7030 – 0.6661 near 0.6750 to the eleven-year low of 0.6661. The latest level was reached on February 7 and acted as a reversal mark ahead of three consecutive green days. Technically, the RSI is in bearish
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