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EUR/TRY (Euro/Turkish Lira) moves near all-time high; further upside movement is expected. EUR/TRY reached an all-time high near the 4.8700 handle on Tuesday as the price extended its bullish run after it jumped above the 4.7350 key level. The bullish picture in the medium-term has been holding since February 2017 and is further supported by the
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NZD/USD advances following the rebound on 0.7152; bullish correction on the way. NZD/USD skyrocketed over the last couple of hours and jumped above the 0.7260 critical level which overlaps with the 38.2% Fibonacci retracement level of the down-leg from 0.7435 to 0.7152, posting a one-week high. The rebound on the 0.7152 support
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USD/JPY stands around 2-week low; bearish in short- and medium-term. USD/JPY fell as low as 105.57 during today’s Asian session and reached a two-week low. Over the last three weeks, the pair is posting neutral sessions as it failed several times to jump above the 107.30 key resistance level but managed to hold above the 16-month
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Brent crude oil futures post 6-week high; bullish bias in short term. Brent crude oil futures reached a fresh six-week high of 68.28 during today’s European session and extended oil’s bullish run, which started from the 64.00 handle. Prices broke above the 67.90 key level and are trading well above their moving averages.
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FTSE 100 (UK 100) index hits 6-week low, eyes 7,000 handle; medium-term outlook looks bearish. The FTSE 100 index has fallen by 4.3% after recording a one-and-a-half-month high of 7,341.00 on February 26; if the all-time high of 7,806.05 is used as a reference point, then the loss amounts to a
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EUR/JPY still consolidating; 130.35 acts as a strong support area. EUR/JPY has been moving within a consolidation area since February 22 with upper boundary the 132.20 resistance level and lower boundary the 129.60 support level. It is worth mentioning that the price came under strong pressure following the bounce off the
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AUD/USD in strong sell-off; ascending trend line eyed as next level. AUD/USD recorded relative strong bearish sessions in the previous week before the pull-back on the 0.7920 resistance level. The price plunged below the 0.7715 key level and posted a fresh three-month low of 0.7677. The bearish structure in the short-term
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German DAX 30 struggles below 12480; death cross within 50 and 200 SMAs created. German DAX 30 has been moving below the 12480 strong resistance level after the strong sell-off at the end of the previous month. The critical death cross between the 50 and 200 medium-term simple moving averages (SMA) indicating
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WTI crude futures trade around 2-week high; bullish bias but the possibility of an overstretched rally. WTI crude oil futures have reversed back up again after finding support at the 38.2% Fibonacci retracement level of 61.41 of the down-leg from 66.60 to 58.15 and reached a two-week high of 62.82 today. Prices successfully broke above the
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GBP/USD edges higher; creates 1-month high below 1.4100. GBP/USD has advanced considerably during yesterday’s trading session, hitting a new one-month high of 1.4087. Over the last few days, the price climbed above the short-term descending trend line from the high on January 25, suggesting more upside bias. The technical picture also
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