Technical Analysis

WTI OIL Outlook: Bulls Take a Breather after Triple Upside Rejection; Crude Inventories in Focus for Fresh Signals

WTI OIL Outlook: Bulls Take a Breather after Triple Upside Rejection; Crude Inventories in Focus for Fresh Signals

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WTI oil price holds in red and eases from 2019 high after bulls faced triple rejection at falling 100SMA. Corrective easing could be anticipated as daily slow stochastic reverses in deep overbought zone and momentum turned in neutral mode. Tuesday’s Doji signaled indecision, adding to signs of bulls losing traction and subsequent consolidative/corrective phase. Initial…
UK 100 Index Retreats from 4-Month High; Bullish in Near Term

UK 100 Index Retreats from 4-Month High; Bullish in Near Term

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UK 100 stock index (FTSE 100) has declined considerably after touching the four-month high of 7265 on February 15. During Thursday’s trading, the price has gained some ground, while it is currently not far below the 50.0% Fibonacci retracement level of the downleg from 7900 to 6533, near 7220. The flatly aligned Tenkan- and Kijun-sen…
EURJPY Still In Positively Sloped Channel, Bullish Correction In Progress

EURJPY Still In Positively Sloped Channel, Bullish Correction In Progress

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EURJPY is trading slightly below the 50% Fibonacci retracement level of the downleg from 133.10 to 118.57, around 125.85, surpassing the bullish crossover of the 20- and 40-simple moving averages in the 4-hour chart. The pair has been struggling in an upward sloping channel since January 15 with the technical indicators remaining in the positive…
AUD/USD Outlook: Bulls Pause Under Pivotal Barrier, Looking For Fresh Signals From Data

AUD/USD Outlook: Bulls Pause Under Pivotal Barrier, Looking For Fresh Signals From Data

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The Australian dollar eased on Wednesday after repeated failure at 0.7174 barrier (daily Kijun-sen/50% retracement of 0.7295/0.7054). The downside was for now protected by broken 55SMA (0.7149) but deeper pullback cannot be ruled out as stochastic is reversing from overbought territory and bearish momentum continues to strengthen. Dips below 55SMA would risk extension towards 10SMA…
EUR/USD Outlook: Euro Maintains Firm Tone But In Directionless Mode Ahead Of Fed minutes

EUR/USD Outlook: Euro Maintains Firm Tone But In Directionless Mode Ahead Of Fed minutes

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The Euro holds firm tone and probes again above cracked Fibo barrier at 1.1341 (38.2% of 1.1514/1.1234) after bulls failed to close above on Tuesday. Fresh attempts higher remain capped by 20SMA (1.1362) for the second day and keep in play risk of recovery stall. North-heading momentum and 5/10SMA bull-cross support, while plethora of daily…
EURUSD Outlook Remains Higher Towards 1.1400 Zone

EURUSD Outlook Remains Higher Towards 1.1400 Zone

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EURUSD outlook remains higher towards 1.1400 zone as more gain is expected. Support lies at the 1.1300 where a break will target the 1.1250 level. A break below here will target the 1.1200 level. Further down, support lies at the 1.1150. On the upside, resistance resides at 1.1400 level with a break through there opening…
EUR/USD Aims To 1.1400

EUR/USD Aims To 1.1400

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During the previous trading session, the currency exchange rate was supported by the simple moving averages to break the resistance level of the weekly R1 at 1.1345. On Wednesday morning, the rate was located above the weekly R1 at the 1.1345 mark. It is expected that the European Single Currency will appreciate against the US…
GBP/USD Skyrockets To 1.3050

GBP/USD Skyrockets To 1.3050

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During Tuesday’s trading session, the British Pound appreciated against the US Dollar by 143 pips or 1.11% to end the trading session at 1.3055. On Wednesday morning, the rate slumped to the 1.3030 mark. Due to a massive surge during yesterday’s trading day, it is expected that the rate might trade sideways during today’s trading…
USD/JPY Aims To Break R1 At 110.99

USD/JPY Aims To Break R1 At 110.99

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During the previous trading session, the currency exchange rate passed the resistance level of the 61.80% Fibo as it was predicted. During Wednesday morning hours, the rate was trading sideways to be located at the 110.76 mark. It is expected, that the US Dollar will continue to appreciate against the Japanese Yen with the help…
XAU/USD Breaks R1 At 1,340.10

XAU/USD Breaks R1 At 1,340.10

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During the previous trading session, the yellow metal broke the resistance level of the monthly R1 at 1,340.10. In regards to the near-term future, most, likely the gold will keep surging to the 1,350.00 level. However, today’s US FOMC Meeting Minutes release at 19:00 GMT could push the yellow metal to depreciate against the US…

ANALYST PICKS

USD/SEK Eyeing FOMC Meeting Minutes, Martin Floden’s Outlook

USD/SEK Eyeing FOMC Meeting Minutes, Martin Floden’s Outlook

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SEK TALKING POINTS – USD/SEK, SWEDEN ECONOMY, RIKSBANK, FOMC, MARTIN FLODEN USD/SEK eyeing FOMC minutes and Floden discussion Intended rate hike may be derailed by risks from abroad Domestic and international concerns are weighing on SEK See our free guide to learn how to use economic news in your trading strategy! Following the release of…
USDCHF Price Well Placed to Bounce From Channel Support

USDCHF Price Well Placed to Bounce From Channel Support

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USDCHF price analysis: The USDCHF price is close to channel support and the 1.00 parity level; a bounce now seems possible. Meanwhile, retail traders are overwhelmingly short the pair and a contrarian view of crowd sentiment also suggests the outlook is bullish. USDCHF chart positive USDCHF is close to the lower bound of a rising…
AUD/JPY on Edge: Trade War Fears Swell – Employment Data in Sight

AUD/JPY on Edge: Trade War Fears Swell - Employment Data in Sight

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AUD/JPY TALKING POINTS – TRADE WARS, EMPLOYMENT DATA, RBA AUD/JPY congesting between 79.055-78.691 US-China trade relations keeping AUD/JPY tense Australian Dollar eyeing employment change data See our free guide to learn how to use economic news in your trading strategy! AUD/JPY has been cautiously trending higher since February 11, but uncertainty over US-China trade relations…
AUD/USD Bulls Unlikely To Get Much Help From RBA Governor

AUD/USD Bulls Unlikely To Get Much Help From RBA Governor

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Currency Pair: Bearish AUD/USD Expertise: Fundamental Average Time Frame: One week New DailyFX Quarterly Forecasts for 1Q are available here The Reserve Bank of Australia Has Done AUD Bulls No Favors In The Past Month. It’s Not Likely To Start Now. The Australian Dollar was hit hard earlier this month by the Reserve Bank of…