Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.
The Renminbi (also known as RMB, CNY) has appreciated against the US dollar over the past 3 weeks. While the general weakness of the US dollar is a key reason, neutral policy measures by the PBoC’s in recent months have also resulted in a strengthening of the yuan. We expect this phenomenon to continue in […]
Bitcoin got some attention a few days ago after it reached a 2020 high of $12,475. That leg up seemed pretty solid as Bitcoin seemed to stay above $12,000 longer than it had any time this year. However, bears later swung into action, sending the cryptocurrency down by about $1,000 over a few days. The […]
Key Resistance Levels: 0.9200, 0.9400, 0.9600Key Support Levels: 0.8800, 0.8600, 0.8400 EUR/GBP Price Long-term Trend: Ranging EUR/GBP pair is in a sideways move. It is fluctuating between levels 0.8950 and 0.9100. The price is fluctuating in the middle of the price range. The pair is on a downward move to the lower price range. Daily […]
Key Resistance Levels: 74.00, 76.00, 78.00Key Support Levels: 58.00, 60.00, 62.00 AUD/JPY Price Long-term Trend: RangingThe AUD/JPY pair is currently trading in a sideways move between levels 77.50 and 72.50. The price is consolidating in the middle of the price range. The price action is characterized by small body candlesticks called Doji and Spinning tops. […]
Key Resistance Zones: 7000, 7100, 7200Key Support Zones: 6100, 6000, 5900 Australia 200 (AU200AUD) Long-term Trend: RangingThe index fluctuates between levels 5800 and 6200 since May. Buyers have tested the resistance line on three occasions to break it. The uptrend will resume when the resistance line is breached. Daily Chart Indicators Reading:The 21-day SMA and […]
AUDUSD Price Analysis – August 20 Thus far this Thursday the upside attempts in AUDUSD maintain positive bias beyond the 0.7150 level while buyers tend to find support around the 0.7150 regions, leaving the spot wavering in familiar ranges. Despite renewed optimism on the U.S.-China trade front and a broad-based withdrawal from the U.S. dollar, […]
Gold (XAU/USD) experienced another brutal beating in the early European session on Thursday as the commodity fell to a daily low of $1,926 courtesy of the fresh bull run in the US dollar (DXY). The greenback was met with strong demand across the board following the central bank’s announcement that they planned on scaling back […]
EURUSD Price Analysis – August 20 The Euro is consolidating after the fall of the previous day, with a pullback from the new (1.1965 level) multi-month high so far looking like a stable correction, but the risk of further falling remains at stake. The downside risk to a monthly low level at 1.1700 increases, as the […]
Bitcoin SV Price Analysis – August 20 An increase in the bears’ pressure to penetrate the $198 price level downside will expose the coin to $179, which may extend to $153 demand level. In case the demand level of $198 holds, the coin will be facing the resistance levels at $198, $179, and $153. BSV/USD […]
