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Market Analysis

Can GBP/USD Recover Higher?

December 7, 2021

  GBP/USD has struggled to recover above 1.3350. Bearish trend line has formed resistance near 1.3280. The British Pound, US Dollar pair tested resistance near 1.3350. GBP/USD struggled to gain...

NZD/USD Pair Ignores the Oversold Relative Strength Index (RSI) in Order To Target 0.6700

December 7, 2021

Talking Points: After a drop to a new 13-month low, the NZD/USD pares its losses. Monthly declining resistance and sustained trading below the 15-week-old horizontal line keep bears hopeful. A...

Crude Still Trading Over $70 Despite Saudi’s Recent Price Hikes

December 7, 2021

Crude oil price is back up above $70 per barrel as the market reacts to Saudi Arabia’s decision to hike its official selling prices to customers in Asia and the US. Despite the recent plunge, the...

0.7005 Is the Key for the AUD/USD Pair As It Trades Within a Bear Flag Pattern

December 6, 2021

  Talking Points: Within a bearish chart pattern, the AUD/USD consolidates recent losses. Bulls are being tested by the monthly resistance line and the 200-day simple moving average (SMA). The...

Strong Resistance Could Prevent Further Gains for the EUR/USD Pair

December 6, 2021

EUR/USD tested support near 1.1300. Bullish trend line has formed support near 1.1270. The Euro, US Dollar pair started to correct higher from near 1.1186. EUR/USD broke above the 1.1300 level, but...

What is Next for Bitcoin After the Weekend Dip?

December 6, 2021

The Bitcoin (BTC/USD) price made a hard landing during the weekend as concerns about its demand fell. The coin declined to a low of $42,000, which was the lowest level since October 1. This price was...

USD/JPY Looks Set for Further Losses

December 3, 2021

USD/JPY started a fresh decline below the 113.50 support level. It broke below a major bullish trend line with support near 114.20.  The US Dollar, Japanese Yen pair started a fresh decline from...

USD/CAD Hovering at its Lowest in Months as Omicron and Upcoming Data Take Their Toll

December 3, 2021

The Canadian dollar strengthened slightly against the U.S Dollar on Thursday but held near its lowest level in over two months, as investors assessed the global economic impact of the Omicron...

USD/TRY Bull Run Shows No Sign of Slowing Down Through December

December 2, 2021

The Turkish lira is not done sliding. The USD/TRY rose to an all-time high of 14.00 on Wednesday. Similarly, the GBP/TRY and EUR/TRY pairs jumped to all-time highs of 18.30 and 15.87, respectively....

Crude Oil Breaks Below Support at $70

December 2, 2021

Crude oil price started a downside correction below $75.00. Bearish trend line has formed resistance near $70.20. After testing resistance near $80.00, the Crude Oil, US Dollar price started a fresh...

AUD/USD Corrective Pullback Eyes 0.7210 Barrier

December 1, 2021

Talking Points: AUD/USD extends its recovery from the yearly low and re-establishes the intraday high. The imminent upside is guarded by previous support from November 2020. The channel’s...

Silver Continues to Trade in a Tight Range as Chinese and U.S Data Draws Closer

December 1, 2021

Silver price has been on a decline for two weeks. A week ago, it extended its losses by dropping below the crucial level of $24. In the new week, the US dollar and Chinese industrial data are the key...

Can USD/CHF Continue to Recover Higher?

December 1, 2021

USD/CHF tested resistance near 0.9375 before correcting lower.  Support from the 100-MA (red) and 200-MA (blue) broken. The US Dollar, Swiss Franc pair started a fresh decline from above the 0.9350...

Strengthening Dollar Continues To Scupper Gold’s Resurgence

November 30, 2021

Price movements for Gold at the beginning of the week have been rather subtle. Notably, it ended the past week on a low amid the strengthening US dollar. In the new week, the focus will be on the...

Will GBP/USD Correct Higher?

November 30, 2021

GBP/USD is struggling to break above the 1.3350 resistance level. Bearish trend line has formed resistance near 1.3355. The British Pound, US Dollar pair started a major decline below 1.3500. GBP/USD...

Ripple (XRP) Is on the Verge of Collapsing

November 30, 2021

Talking Points:  On the weekly chart, XRP falls below important Ichimoku levels. The divergence of key oscillators could indicate near-term support. However, a 34 % decrease is still a possibility....

Can EUR/USD Continue its Recovery?

November 29, 2021

EUR/USD found support near 1.1186 and started to recover higher. Bearish trend line broken near 1.1200. The Euro, US Dollar pair tested support near 1.1180. EUR/USD started to recover, with the quote...

US Dollar Index (DXY) Bulls Defend the 10-SMA Above 96.00

November 29, 2021

Talking Points: After the largest daily drop in a year, DXY is struggling to find a clear direction. Buyers are encouraged by bullish MACD indications and the 10-SMA, and previous resistance from...

A Busy Week Ahead for Major Indices, What’s Instore For S&P, Nasdaq?

November 29, 2021

Wall Street’s three main indexes ended sharply lower on Friday as news of a new COVID variant worried investors around the world. The World Health Organization (WHO) on Friday designated a new...

USD/JPY Remains in an Rising Channel

November 26, 2021

USD/JPY started a major increase above the 114.00 level. A rising channel has formed support near 114.50. The US Dollar, Japanese Yen pair started a bullish rally from the 112.80 support level....

On Strong Australia Retail Sales, the AUD/JPY Pair Teases Critical Fibonacci Support

November 26, 2021

Talking Points: The AUD/JPY pair rallies off its weekly low but fails to hold its ground. In October, Australia’s retail sales increase the greatest in 2021. Bears remain optimistic as the pair...

Stronger Dollar Sees The MXN Continue its Retreat

November 26, 2021

The USD/MXN pair has gained for the past seven straight days as investors reflect on the overall strong dollar. The pair is trading at 21.80, which is the highest it has been since November 4th last...

NZD/USD Bulls Are Retaking Control

November 25, 2021

Talking Points: Following the RBNZ’s cleanout, NZD/USD bulls are going in to test the bears. The attention is on the 50 % mean reversion around 0.6920. The bird fell out of the sky, according...

Will EUR/GBP Recover Higher?

November 25, 2021

EUR/GBP started to decline after testing resistance near 0.8600. Bullish trend line broken at 0.8530. The Euro, British Pound pair started to decline from near 0.8600. Multiple support levels were...

Will AUD/USD Continue its Decline?

November 24, 2021

AUD/USD started to decline after testing resistance near 0.7550. Bearish trend line has formed resistance near 0.7275.  The Aussie Dollar, US Dollar pair started a major decline from above the...

WTI Is Struggling To Stay Over 78.00 USD on the Back of a Joint Oil Reserve Release

November 24, 2021

Talking Points: After a two-day comeback from the monthly low, WTI loses its upward momentum. Japan is watching for the United States and China to unleash their oil reserves, but the markets are...

As FOMC & GDP Data Looms, What Does This Mean for DXY?

November 24, 2021

The US dollar index (DXY) bullish trend accelerated ahead of the latest US GDP and inflation numbers. It is trading at $96.55, which was the highest level since July 2020. The DXY has jumped by more...

GBP/USD Looks Set for Further Losses

November 23, 2021

GBP/USD tested support near 1.3350 before correcting higher. Bearish trend line broken with resistance near 1.3440. The British Pound, US Dollar pair turned bearish after testing resistance near...

As the USD Falls, Bears Are Gaining Control of the USD/CAD Pair

November 23, 2021

Talking Points: Bears take control of the USD/CAD as the USD loses ground. Following new highs, the USD has moved into a sideways consolidation. In early Asian trading, the USD/CAD is trading flat...

USD/CHF Holding Firm as federal Reserve and SNB’S Divergence Continues To Widen

November 23, 2021

The USD/CHF price has been in a major bullish trend in the past few weeks as investors price in more divergence between the Federal Reserve and the Swiss National Bank (SNB). The pair is trading at...