Technical Analysis

USD/JPY Technical Analysis: Gains Could Face a Threat – 24 February 2020

USD/JPY Technical Analysis: Gains Could Face a Threat - 24 February 2020

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The US dollar remains the best performing currency compared to other major currencies. Since the beginning of trading in 2020, the price of the USD/JPY was the most prominent on the trading screens last week, as the pair succeeded in grabbing more than 300 points higher, reaching the 112.22 resistance, the highest level since April…
Gold Technical Analysis: What About the Future of its Gains? – 24 February 2020

Gold Technical Analysis: What About the Future of its Gains? - 24 February 2020

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Larger and continuous losses caused by the Corona virus (Covid-19) = new historical and record gains for gold. The losses from China turned to Japan and South Korea, which paved the way for record and historical gains for gold prices that culminated by testing of the $1649 resistance, its highest level in seven years, before…
GBP/USD Technical Analysis: Downtrend Still Stronger – 24 February 2020

GBP/USD Technical Analysis: Downtrend Still Stronger - 24 February 2020

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The gains of the US dollar stopped, giving the GBP/USD price only the opportunity to correct towards the 1.2980 level during last Friday's trading session, and its recent gains were capped around the 1.2848 support, the lowest level in more than three months, and was stable around the 1.2941 level in the beginning of this…
EUR/USD Technical Analysis: Ahead of the German IFO – 24 February 2020

EUR/USD Technical Analysis: Ahead of the German IFO - 24 February 2020

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At the end of last week’s trading, the price of the EUR/USD pair got a new long awaited momentum for the upward correction supporting gains to the 1.0863 level before closing the week's trading around the 1.0847 level, recovering a small part of its recent losses that pushed it towards the 1.0777 support, its lowest…
Nasdaq 100 Forecast:  Likely to Reach Even Lower Levels – 24 February 2020

Nasdaq 100 Forecast: Likely to Reach Even Lower Levels - 24 February 2020

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The natural order of things is that eventually what goes up must come down. The NASDAQ 100 is finally starting to see the effects of gravity, as the Friday session ended up very weak. The market is closing towards the very bottom of the candlestick, and that of course is not a good sign. The…
USD/TRY: Exhausted Upside Vulnerable to Sell-off – 24 February 2020

USD/TRY: Exhausted Upside Vulnerable to Sell-off - 24 February 2020

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Turkey’s economy is in full recovery mode. The central bank lowered interest rates once again by 50 basis points to 10.75%. Since President Erdogan’s government took a more direct role in monetary policy, it slashed interest rates by 1,275 basis points and vowed single digits in the second half of 2020. Economic indicators confirm the…
BTC/USD Forecast: Tries to Recover into the Weekend – 24 February 2020

BTC/USD Forecast: Tries to Recover into the Weekend - 24 February 2020

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Bitcoin rallied slightly during the trading session on Friday, showing signs of life again at the $9500 level. This is an interesting area to pay attention to as the market has gone back and forth between the $10,500 level in the $9500 level. This is extensively making the $10,000 level the magnet for price, so…
AUD/USD Forex Signal: Very Bearish  – 24 February 2020

AUD/USD Forex Signal: Very Bearish - 24 February 2020

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AUD/USD: Breakdown towards 0.6500 looks likely Last Thursday’s signals were not triggered as the price never reached the resistance level identified at 0.6662. Today’s AUD/USD Signals Risk 0.75%. Trades must be entered from 8am New York time Monday to 5pm Tokyo time Tuesday. Short Trade Ideas Go short following bearish price action on the H1…
Natural Gas Forecast: Likely to Continue Trying to Build Range – 24 February 2020

Natural Gas Forecast: Likely to Continue Trying to Build Range - 24 February 2020

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Natural gas markets initially fell during the trading session on Friday, reaching down towards the gap that had formed at the beginning of the week. The market finding support in that area isn’t a huge surprise, as it’s quite common. At this point, it’s very difficult to imagine a scenario where we would be able…
WTI Crude Oil Forecast: Markets Find Support – 24 February 2020

WTI Crude Oil Forecast: Markets Find Support - 24 February 2020

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West Texas Intermediate Crude Oil markets fell initially during the trading session on Friday but found support near the $52.50 level to bounce a bit. Ultimately, this is a market that should continue to see a lot of choppiness and volatility, especially considering that the headlines out of China throw the markets around so drastically.…

ANALYST PICKS

NZD/JPY Technical Analysis: Yen Snaps 5-Month NZ Dollar Rise

NZD/JPY Technical Analysis: Yen Snaps 5-Month NZ Dollar Rise

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NZD/JPY TECHNICAL ANALYSIS – Talking POINTS New Zealand Dollar makes good on H&S topping pattern, drops to 70.00 Break of trend support from late August suggests downtrend is resuming Long-term trend dynamics hint that a move below 65.00 may be brewing The New Zealand Dollar turned lower against the Japanese Yen as expected, making good…
Near-term Trade Setups in EUR/USD, GBP/USD & USD/CAD

Near-term Trade Setups in EUR/USD, GBP/USD & USD/CAD

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Near-term Technical Outlook: EUR/USD, AUD/USD & USD/CAD Technical charts on trade setup we’ve been tracking in EUR/USD, GBP/USD &USD/CAD Euro approaching weekly range highs, breakout risk Sterling reversal eyes initial resistance USD/CAD breakout stalling just above resistance An update on trade setups we've been tracking inEuro, Sterling & Loonie. These are the targets and invalidation…
EUR/USD Reverses Ahead of November Low Following Fed Meeting

EUR/USD Reverses Ahead of November Low Following Fed Meeting

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The reaction to the Federal Open Market Committee (FOMC) interest rate decision leaves EUR/USD exposed to a near-term correction as the exchange rate snaps the series of lower highs and lows from earlier this week. EUR/USD fails to take out the November low (1.0981) even though the Federal Reserve sticks to the status quo, and…
New Zealand Dollar, Japanese Yen Outlook: NZD/JPY Uptrend at Risk?

New Zealand Dollar, Japanese Yen Outlook: NZD/JPY Uptrend at Risk?

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New Zealand Dollar, Japanese Yen, NZD/JPY, Coronavirus - Talking Points New Zealand Dollar may be vulnerable to extending losses against the Yen Coronavirus fears, Chinese PMI and Fed rate decision carry sentiment risk NZD index eyeing a downside breakout with NZD/JPY looking to follow it New Zealand Dollar, Japanese Yen Fundamental Outlook The “pro-risk” New…