Technical Analysis

AUS/USD Outlook: Aussie Advances to New April’s High on Fresh Risk Appetite

AUS/USD Outlook: Aussie Advances to New April’s High on Fresh Risk Appetite

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The Australian dollar advanced 1.8% since Asian opening on Tuesday, making the biggest daily advance in the new month and hit new April’s high Risk sensitive currency was supported by rise in global equities that boosted appetite for riskier assets, with RBA’s decision earlier today to keep interest rates at the record lows, contributing to…
GER 30 Index Exits Neutral Zone But New Barrier Pops Up

GER 30 Index Exits Neutral Zone But New Barrier Pops Up

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The German 30 stock index escaped from an almost three-week old range on the four-hour chart but quickly found new resistance near the 200-period simple moving average (SMA) on the way up. According to the RSI and the Stochastics, there is not much upside left as the indicators are reversing southwards after peaking in the overbought area. In the event of a downside…
GBP/AUD at Resistance/Bearish zone

GBP/AUD at Resistance/Bearish zone

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GBPAUD is bearish, but is currently trading in a wave B higher degree correction. This correction is complex, and can now be trading at possible resistance and a bearish reversal zone at the upper corrective channel line (2.05/2.11 region), and at various Fib. ratios (61.8 and 78.6), all of which can slow the bulls down.…
Brent Futures Complete Double Bottom at 24.55; Surpass SMAs

Brent Futures Complete Double Bottom at 24.55; Surpass SMAs

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Brent has gained some of its positive momentum after the creation of a double bottom pattern at 24.55 on March 18 and on April 1. In the short-term the market could retain range-bound trading as the RSI is moving sideways above the 50 level and the MACD remains near the trigger line and above its…
Dollar Slips Amid Risk-On Mood

Dollar Slips Amid Risk-On Mood

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The US dollar lost ground against its major rivals in Tuesday trading, as glimmers of hope over the coronavirus lifted risk appetite among investors. The greenback had rallied sharply since March 9th as fears spiked over the economic consequences of lockdowns across the globe. However, signs of a slowdown in the spread of coronavirus prompted…
EUR/GBP 4H: Decline Likely To Continue

EUR/GBP 4H: Decline Likely To Continue

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The Euros has declined by 7.48% against the British Pound since March 18. The currency pair breached the 50-, 100– and 200– period SMAs during the period. The exchange rate is currently testing a support cluster formed by the 200– period simple moving average and the bottom border of an ascending channel pattern at 0.8812.…
USD/CHF 4H Chart: Could Continue To Edge Higher

USD/CHF 4H Chart: Could Continue To Edge Higher

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The US Dollar has continued to surge against the Swiss Franc. The currency pair edged higher by 3.11% during last week’s trading sessions. All things being equal, the exchange rate could continue to surge in an ascending channel pattern. Bulls could drive the price towards the 1.0100 area within this week’s sessions. However, a resistance…
XAU/USD Reached 1,670.00

XAU/USD Reached 1,670.00

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Yesterday, the XAU/USD exchange rate raised to the 1,670.00 level. During Tuesday morning, the rate was trading at 1,660.00. From the one hand, it is likely that bulls could continue to prevail in the market, and gold could appreciate against the US Dollar. In this case the rate could target the 1,690.00 level. From the…
USD/JPY Trades At 109.00

USD/JPY Trades At 109.00

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On Monday, the USD/JPY currency pair tried to surpass the resistance level formed by the weekly R1 at 109.24. During today’s morning, the pair was trading near the given level. Note that the exchange rate has been trading within the rising wedge pattern since the beginning of April. Thus, from theoretical perspective, it is likely…
GBP/USD Revealed Descending Trend

GBP/USD Revealed Descending Trend

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Yesterday, the GBP/USD exchange rate tried to surpass the weekly PP at 1.2318. During Tuesday morning, the rate tested the upper boundary of the short-term descending channel. From a theoretical point of view, it is likely that some downside potential could prevail in the market. In this case the currency pair could target the Fibo…

ANALYST PICKS

CAD/JPY – Bearish Set-up for Canadian Dollar vs Japanese Yen

CAD/JPY – Bearish Set-up for Canadian Dollar vs Japanese Yen

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CAD/JPY Highlights: A lot of the volatility in the FX market has been erratic, but in some spots there are still some nice technical sequences to pay attention to. CAD having had a big breakdown versus USD is trading relatively well, which brings us to CAD/JPY despite the volatility price action in JPY. CAD/JPY on…
Canadian Dollar Outlook Grim on Crude Oil, Virus. USD/CAD Uptrend Eyed

Canadian Dollar Outlook Grim on Crude Oil, Virus. USD/CAD Uptrend Eyed

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Canadian Dollar, USD/CAD, Crude Oil, Bank of Canada, Coronavirus - Talking Points Majors-based Canadian Dollar index may confirm break under key support CAD has been falling with crude oil prices as coronavirus prompts BoC cut USD/CAD may rise towards the 2018 peak, supported by a rising trend line Canadian Dollar Outlook May Deepen Bearish as…
EUR/GBP Price – Struggling to Break Short-Term Resistance

EUR/GBP Price - Struggling to Break Short-Term Resistance

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EUR/GBP Price, Charts and Analysis: Rally off the mid-February low looks exhausted. 200-dma now blocking further upside. EUR/GBP Turning Lower as Resistance Stands Firm The recent strength of the Euro against a weak Sterling has propelled EUR/GBPnearly 5 big figures higher off its multi-week low print at 0.8282. The single currency has found willing buyers…
New Zealand Dollar May Fall as Australian Dollar and AUD/NZD Rise

New Zealand Dollar May Fall as Australian Dollar and AUD/NZD Rise

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New Zealand Dollar, Australian Dollar, AUD/NZD, Coronavirus - Talking Points “Risk-neutral” AUD/NZD has been maintaining composure on virus New Zealand Dollar may depreciate on a dovish shift in RBNZ’s tone AUD/NZD may aim for another test of key resistance, eyeing breakout? New Zealand Dollar May Fall Versus the Australian Dollar on a More-Dovish RBNZ Despite…