Daily Analysis of GBP/USD for April 21, 2016 On the H1 chart, the resistance zone of 1.4401 remains very strong and is pushing the Cable lower, as it has been trading into a bearish mode and maybe it could re-test the 200 SMA on a short-term basis...
GBP/USD Bearish Below 1.4664 – Commerzbank Senior Analyst at Commerzbank Axel Rudolph noted the bearish bias of the pair while below 1.4664. Key Quotes “GBP/USD ran out of steam below the six month downtrend line at 1.4419”. “Above here overhead resistance is intense. It consists of the 1.4457/1...
USD/JPY weaker, Rejected from 110.00 The Japanese currency is marginally up vs. its American peer on Thursday, with USD/JPY navigating a narrow range in the upper-109.00s...
USD/JPY Underpinned by 108.50 – UOB The research team at UOB Group sees USD/JPY edging higher while supported by the 108.50 level. Key Quotes “The sharp and rapid drop in USD that started from 113.80 (29 March) is showing signs of slowing down”. “Attempts to move below 108...
USD/CHF Corrects Lower from 3-Week Tops, Near 0.9700 The bulls took a breather from the recent upsurge this Thursday, sending USD/CHF back in the red zone amid a better risk tone and higher oil prices. USD/CHF fails once again near 0.9730 Currently, the USD/CHF pair trades -0...
USD/CAD Under Pressure, near 1.2630 After posting fresh 2016 lows near 1.2590 on Wednesday, USD/CAD has regained traction and managed to retake the 1.2630 area today...
USD/CHF Now Targets 0.9777 – Commerzbank In opinion of Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair could now be headed towards the 0.9780 area. Key Quotes “USD/CHF has risen above its previous April high at .9688 and now targets the 55 day moving average at .9777”...
The #euro is mainly declining against its major competitors. Today the #ECB will announce decisions on interest rates, and later the press conference of #MarioDraghi will be held. In anticipation of these events, #investors are adjusting their positions...
FxWirePro: NZD/CAD Forms Bullish Bat Pattern, Good to Buy at Dips Pattern Formed- Bullish Bat Pattern Potential Reversal Zone (PRPZ)- 0.8780 NZD/CAD has slightly recovered after making a low of 0.8800 level .It is currently trading around 0.88125. The pair’s major intraday resistance is around 0...
FxWirePro: Aussie Strengthens Against Kiwi, Key Resistance 1.1298 in Focus AUD/NZD is trading around 1.1195 marks. Pair made intraday high at 1.1208 and low at 1.1150 marks...
FxWirePro: NZD/USD Upside Stalls at Channel Top, Slips Below 5-DMA at 0.6969 Despite risk-on sentiment, the Kiwi has been left on the sidelines, trades narrow range on the day (0.6982-0.6955). Upside in the pair stalls at channel top resistance at 0...
EUR/USD Challenging Lows sub-1.1300, ECB Eyed The single currency is now posting marginal losses vs. its American counterpart on Thursday, sending EUR/USD back below the 1.1300 handle. EUR/USD attention to ECB Spot has returned to the 1.1300/1...
EUR/GBP Ranging Ahead of Key Event Release Following three consecutive days of decline, the EURGBP pair is trading in a narrow range with little change from yesterday's close ahead of the release of UK monthly retail sales data and ECB monetary policy announcement later during the day...
GBP/USD Bounces-Off 1.4320 Ahead of UK Retail Sales The GBP/USD is seen gradually drifting lower as we progress towards early Europe, having breached yesterday’s lows, and now looks to test 1.43 handle ahead of the UK retail sales data...
Dollar Longs Heavily Pared While Euro Shorts Square ahead of ECB – Deutsche Bank Nicholas Weng, Strategist at Deutsche Bank, suggests that this week we have seen paring in two of the most popular long trades: USD in DM, and PLN in EM...
FxWirePro: USD/JPY Finds Strong Resistance at 109.90, Go Long on Break Above Doji formed on USD/JPY daily charts till now. Pair finds strong trendline resistance at 109.90. Further upside can be seen on breaks above. Test of 110.65 then likely...
FxWirePro: Silver Rises Nearly 3 Pct to $17.37, Highest Since May 2015 XAG/USD is currently trading around $17.28 marks. It made intraday high at $17.37 and low at $16.89 levels. Intraday bias remains bullish till the time pair holds immediate support level at $17.11 marks...
USD/CAD Keeps the Red as Oil Turns Positive The USD/CAD pair moves-off multi-year troughs and steadies around the mid-point of 1.26 handle amid improved risk sentiment. USD/CAD rejected near 1.2660 Currently, the USD/CAD pair drops -0.12% to 1.2642, heading for a retest of daily lows struck at 1...
Add Long EUR/USD on Weakness, Sell GBP/USD - Westpac Research Team at Westpac, suggests that the GBP/USD remains high on their sell list for another week. Key Quotes “We sell GBP/USD at 1.4450, stop 1.4610. Doubt GBP has the vigour to punch much above 1...
