The AUD/NZD continued on a directionless bias in the North American session on Monday. At press time, the pair is trading at 1.0630, up by 0.03% on the day. The blooming market risk sentiment is currently aiding both the Aussie (AUD) and the Kiwi (NZD) to find modest demand against other currencies ahead of the […]
Key Resistance Levels: 1.0800, 1.0900, 1.1000Key Support Levels: 1.0600, 1.0500, 1.0400 EUR/CHF Price Long-term Trend: RangingEUR/CHF has been on a downward move since September 25. The current downtrend resumes after the retest at level 1.07488. The market is still falling. Today, the pair is rising and approaching level 1.0700. The upward move is likely to […]
XAGUSD Price Analysis – November 2 Silver price is embarking on a recovery journey beyond the $24.00 level early in the week with prospects of an upside move towards the $24.50 level amid critical events and the US elections. However, the dollar maintain gains as the US election and Fed meeting lurk around the corner. […]
Last Friday Silver closed at a very interesting level, above the 23.50 validating a possible reversal on an inverted head and shoulders breakout. Having said that, it was too late on Friday’s session to enter but today we saw Silver dip at Sunday’s Futures open to test and reject the 23.40 level to then start […]
Key Resistance Levels: 0.9200, 0.9400, 0.9600Key Support Levels: 0.8800, 0.8600, 0.8400 EUR/GBP Price Long-term Trend: BearishEUR/GBP has been in a downward move since September 11. The selling pressure is reaching bearish exhaustion. On October 21 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This implies that the pound will fall and reverse […]
GBPUSD Price Analysis – November 1 The GBPUSD pair posted a modest intraday advance in the prior session but selling bias holds lower under the 1.3000 level. Prime Minister Boris Johnson announced a UK nationwide lockdown on Saturday, also extending coronavirus wage subsidies. GBPUSD may trend lower at the weekly opening and lose the 1.2881 […]
GBPJPY Price Analysis – November 1 The GBPJPY price managed to swing higher at month-end lows and was last seen trading with modest gains, just to mid 135.00 psychological marks. Tomorrow is the 1st trading day in November, and the pound has been struggling over the last few days into the month-end. The rapid pace […]
Key Resistance Levels: 0.6600, 0.6800, 0.7000Key Support Levels: 0.6200, 0.6000, 0.5800 NZD/USD Price Long-term Trend: BullishNZD/USD has been in a downward move since October 28. The pair has fallen to level 0.66105 and it is approaching bearish exhaustion. The market is experiencing buying pressure at level 0.6600 support zone. Daily Chart Indicators Reading:The Kiwi has […]
THE TECHNICAL ANALYST HAS BECOME AN ENDANGERED SPECIESAccording to Investopedia.com, technical analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analysing statistical trends gathered from trading activity, such as price movement and volume. Unlike fundamental analysts, who attempt to evaluate a security’s intrinsic value, technical analysts focus on patterns of […]
