Technical Analysis

GOLD Breaks Resistance Levels

GOLD Breaks Resistance Levels

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On Friday, gold’s price broke off the hourly simple moving averages. On Monday, there was a surge that started when the rate bounced off the support of the 200-hour SMA. In general, the pair had no technical resistance as high as the pivot point at 1,570.00. In theory, the price should reach for this level.…
USD/JPY Gets Squeezed

USD/JPY Gets Squeezed

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On Friday, the USD/JPY retraced down to the support of the 55-hour simple moving average and the 110.00 mark. On Monday, the pair was still supported by the SMA. In the meantime, it faced the resistance of the 110.20 level. In regards to the near term future, the rate was expected to get squeezed in…
GBP/USD Is Heading To 1.2940

GBP/USD Is Heading To 1.2940

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The GBP/USD has passed the support of the 55, 100 and 200-hour simple moving averages. By the middle of Monday’s trading session, the rate was headed to the support of a weekly and monthly pivot points just below the 1.2940 mark. In the meantime, the pair can be considered oversold, as it has left SMAs…
EUR/USD Should Continue Decline

EUR/USD Should Continue Decline

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The EUR/USD plummeted on Friday from the simple moving averages near 1.1130 to the 1.1090 level. On Monday, the currency exchange rate reached below the 1.1090 level. In general, the rate was expected to continue to decline, as it had no technical support as low as the monthly simple pivot point at 1.1066 and the…
USDJPY Bullish Above 109.70

USDJPY Bullish Above 109.70

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The US dollar is still trading above the 110.00 resistance level against the Japanese yen, as buyers look towards a possible rally towards the 111.00 level. Going forward, continued gains above the 109.70 level should be considered bullish for the USDJPY pair. Looking at upcoming resistance for the USDJPY pair the 110.25 and 110.50 level…
EURUSD Turning Bearish

EURUSD Turning Bearish

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The euro currency is struggling to move above the 1.1100 level against the US dollar as downside pressure starts to build on the pair. Continued failure around current levels should see the EURUSD pair testing towards the 1.1060 support level over the coming trading sessions. At present, a daily price close above the 1.1170 level…
EUR/CAD 4H Chart: Bearish Signals

EUR/CAD 4H Chart: Bearish Signals

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The single European currency has declined by 0.65% in value against the Canadian Dollar since January 15. The decline began after the currency pair tested the upper boundary of a descending channel pattern at 1.4581. As for the near future, the EUR/CAD exchange rate could continue to decline in the descending channel pattern. The potential…
EUR/AUD 4H Chart: Likely To Edge Lower

EUR/AUD 4H Chart: Likely To Edge Lower

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During last week’s trading sessions, the common European currency has declined by 1.19% in value against the Australian Dollar. The currency pair is currently trading between the 50-, 100– and 200– hour simple moving averages. All things being equal, the EUR/AUD exchange rate will most likely continue to edge lower within this week’s trading sessions.…
EUR/USD Technical Analysis: Trend is Strengthening – 20 January 2020

EUR/USD Technical Analysis: Trend is Strengthening - 20 January 2020

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The EUR/USD attempts for a bullish correction during last week's trading did not achieve gains above the 1.1172 level, and with the European currency not getting more catalysts to achieve more during the Friday trading session, the pair returned the 1.1086 support, ending all previous gains. Bears are back to take over the pair's performance.…
Gold Technical Analysis: Ignoring the USD Strength – 20 January 2020

Gold Technical Analysis: Ignoring the USD Strength - 20 January 2020

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The yellow metal ignored the strength of the US dollar amid purchases that pushed the price of gold towards the $1561 level an ounce. Gold investors will watch the renewed global trade and geopolitical tensions to push gold prices to achieve more gains. Gold prices have shown no concern for the calm tensions between the…

ANALYST PICKS

Bearish AUD/USD Off of Confluent Resistance Zone

Bearish AUD/USD Off of Confluent Resistance Zone

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- For trading ideas, please check out our Trading Guides. And if you’re looking for something more interactive in nature, please check out our DailyFX Live webinars. To receive James Stanley’s Analysis directly via email, please sign up here. AUD/USD Rally to Resistance on US Dollar Weakness The Australian Dollar started to see pressure in…
AUD/USD Elliott Wave Analysis Shows 3 Year Pattern Ended Last Week

AUD/USD Elliott Wave Analysis Shows 3 Year Pattern Ended Last Week

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AUD/USD Elliott Wave Analyst Pick Talking Points: The recent AUD/USD sell off hints the bullish pattern from September 2015 may be complete Anticipating continued AUD/USD weakness to retest 69 cents so long as we are below 81 cents Establish short position on partial retracement higher AUD/USD Elliott Wave analysis shows a three-year pattern completed on…
Bearish EUR/JPY With Deeper Breakdown Potential

Bearish EUR/JPY With Deeper Breakdown Potential

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- For trading ideas, please check out our Trading Guides. And if you’re looking for something more interactive in nature, please check out our DailyFX Live webinars. To receive James Stanley’s Analysis directly via email, please sign up here. We’ve been following this pair over the past month as the prior bullish up-trend has broken…
Setback Likely for USDCHF Before Uptrend Resumes

Setback Likely for USDCHF Before Uptrend Resumes

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USDCHF talking points: - USDCHF will find it hard to make much more progress near-term and could easily slip back. - However, it is currently in an uptrend and that should reassert itself once the pair has paused for breath. Learn how to trade like an expert by reading our guide to the Traits of…