As the US dollar remains under pressure globally, the Australian dollar is heading toward the five-month high reached last week at 0.7063. Recent remarks from Federal Reserve officials indicate that they currently believe increases of 25 basis points (bp) will be the proper rate of tightening at the Federal Open Market Committee’s (FOMC) next meetings. […]
Key Support Levels: 129.00, 128.00, 126.00Key Resistance Levels: 132.00, 133.00, 134.00 EUR/JPY Price Long-term Trend: BullishThe EUR/JPY pair is still trading in the bullish trend zone but faces resistance at level 142.00. When the moving average lines are broken, the pair will trend. If buyers are successful in keeping the price above the 50-day SMA, […]
Bullish momentum increases in EURUSD market EURUSD Price Analysis – 23 January The price may drop to the $1.07, $1.06, and $1.05 support levels if Bulls are unable to overcome the $1.09 resistance level. EURUSD may surpass the $1.09 resistance level if buyers apply more pressure, after which it may rise to the $1.10 and […]
The ailing Iranian rial hit a record low versus the US dollar on Saturday due to the nation’s deepening isolation and the potential for European Union penalties against Tehran’s Revolutionary Guards or some of its members. As efforts to restart nuclear talks have stalled in recent months, relations between the EU and Tehran have deteriorated. […]
Market Analysis – January 20 GBPJPY market retraces into discount levels after a bullish displacement from the demand level at 151.160 to the supply level at 172.170. GBPJPY Long-term Trend: Bullish The GBPJPY market was in consolidation for several months in the previous year. In March, the market rallied aggressively from the oversold region at […]
On Friday, the dollar surged against the yen, on pace for its biggest daily gain in around two weeks, as the governor of the Bank of Japan (BoJ) said that the central bank will retain its ultra-loose monetary policy despite rumors that a change is on the horizon. BOJ Governor Haruhiko Kuroda said the central […]
Market Analysis – January 18 USDCAD bullish trend line has broken. The market has turned bearish, hence, the ascending trendline has failed to function as a support. USDCAD Long-term Trend: Bearish Resistance Levels: 1.3700, 1.3900, 1.4000 Support Levels: 1.3300, 1.2900, 1.2500 USDCAD was very bullish last year due to the strengthening of the dollar. Bullish, […]
Market Analysis – January 19 USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade market has continued to replay the “break and retest” price action on the daily chart. The bears have gained control since October, after the test of 150.90. USDJPY – Guide, Tips […]
USOil price action was able to break through the $80 price resistance level. It took some time for this to be achieved, but from the looks of things, prices may move further in the upside direction from here. Nevertheless, these may sound presumptuous without establishing some facts, so let’s dive in. Major Price Levels: Top […]
