tradingconmike

tradingconmike

FX:EURJPY extends the decline below the 162.00 support at the beginning of the week. Further downside appears well on the cards for the cross in the short-term horizon. That said, losses could then accelerate to the provisional 55-day SMA at 158.87 ahead of the interim 100-day SMA at 158.02. So far, the longer term positive outlook for the cross appears...

tradingconmike

The FX:AUDJPY snuck over the 97.50 level just ahead of the Friday closing bell, trying to claw back some of the midweek's losses after the pair tumbled from a Wednesday peak of 98.66. The AUD/JPY closed out the trading week with some gains, up nearly 1.2% from Monday's opening bids near 96.40, but the back half of the week was marred by a 1.75% decline that...

tradingconmike

FX:EURJPY registers back-to-back days of losses, down 0.22% in late trading during Friday's North American session, set to remain above the 163.00 figure after reaching a three-day low of 162.15. Even though the EUR/JPY sees red, today’s price action forming a hammer suggests that buyers stepped in at around the Tenkan-Sen at 162.37. After that, the cross-pair...

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FX:EURUSD adds to Thursday’s small gains and flirts with the key 1.0880 region at the end of the week. The continuation of the upward bias could challenge the immediate up-barrier at 1.0900 ahead of the weekly high of 1.0945 (August 30). Once the latter is cleared, spot could challenge the psychological threshold of 1.1000. So far, while above the significant...

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TVC:DXY reverses two consecutive daily advances and resumes the downward bias on Friday. In case bears regain control, the breakdown of the November low of 103.98 (November 14-15) should pave the way for a quick test of the critical 200-day SMA at 103.61 prior to the weekly low of 102.96 (August 30). In the meantime, while above the key 200-day SMA, the outlook...

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FX:USDJPY retraces some of Wednesday’s 0.60% gains on Thursday due to overall US Dollar (USD) weakness amid a risk-off impulse. Worse than expected, fundamental data from Japan’s triggered flows toward safe-haven assets, boosting appetite toward the Japanese Yen (JPY). At the time of writing, the major trades at 150.61, virtually unchanged in the early Asian...

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FX:GBPJPY retraces from weekly highs reached on Wednesday at around 188.24 and hovers around the 187.00 figure late in the New York session, as a three-candle chart pattern emerges that could warrant further downside pressure on the pair. In the near term, the GBP/JPY is consolidating near the year's highs, though it’s forming an ‘evening-star’ chart pattern....

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FX:EURUSD trades without clear direction in the mid-1.0800s following the previous daily decline on Thursday. The continuation of the upward bias could see the weekly high of 1.0945 (August 30) revisited sooner rather than later. Once cleared, spot could challenge the psychological threshold of 1.1000. So far, while above the significant 200-day SMA, today at...

tradingconmike

TVC:DXY manages to pick up extra pace and extends further the bounce off multi-week lows around 104.00 on Thursday. In case bears regain the upper hand, the breakdown of the November low of 103.98 (November 14-15) should pave the way for a quick test of the critical 200-day SMA at 103.61 prior to the weekly low of 102.96 (August 30). In the meantime, while...

tradingconmike

FX:EURJPY advances further north of the 164.00 level and prints new yearly highs on Thursday. Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 164.30 (November 16) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23). In the meantime,...

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Hourly candles see the OANDA:XAUUSD knocking back into the 200-hour Simple Moving Average (SMA) after a failed bid for higher chart ground, slipping back from Wednesday's weekly high set at $1,975. The 50-hour SMA is showing a mixing of near-term momentum, consolidating with the longer moving average near $1,960. On the daily candlesticks, the XAU/USD is...

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The British Pound (GBP) remains steady against the Japanese Yen (JPY) during Wednesday’s mid-North American session after reaching a daily high of 188.24; the pair has fallen below the 188.00 mark, courtesy of weak inflation data from the UK. Therefore, the GBP/JPY hovers around 187.94, virtually unchanged. From a technical perspective, the FX:GBPJPY is upward...

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OANDA:XAGUSD price climbs on Wednesday, following last Tuesday’s soft US inflation report, which sent US Treasury bond yields plummeting on expectations the US Federal Reserve is done hiking rates. Hence, the XAG/USD advances sharply, reaching key resistance levels like the 200-day moving average (DMA) at $23.26. If Silver bulls hold price above the latter, the...

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FX:EURUSD surrenders part of the recent advance to three-month highs just below 1.0900 the figure on Wednesday. The continuation of the upward bias could see the weekly high of 1.0945 (August 30) revisited sooner rather than later. Once cleared, spot could challenge the psychological threshold of 1.1000. So far, while above the significant 200-day SMA, the...

tradingconmike

TVC:DXY attempts a mild recovery to the 104.30/40 band after bottoming out just below the 104.00 support earlier in the session on Wednesday. The breakdown of the November low of 103.98 (November 14-15) should pave the way for a quick test of the critical 200-day SMA at 103.60 prior to the weekly low of 102.96 (August 30). In the meantime, while above the key...

tradingconmike

FX:EURJPY climbs further and flirts with the 164.00 mark on Wednesday, new yearly peaks. Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 163.94 (November 15) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23). In the meantime, the...

tradingconmike

The FX:AUDUSD pair faces pressure around 0.6520 in the late European session. The rally in the Aussie asset stalls as investors await the United States Retail Sales data for October, which will be published at 13:30 GMT. As per the consensus, consumer spending contracted by 0.3% against 0.7% growth in September. Weak consumer spending data would put more...

tradingconmike

FX:USDCHF lost more than 100 pips in the previous session, due to the downbeat US inflation data. The USD/CHF pair extends the losses, trading near 0.8870 during the European session on Wednesday. A decisive break below the latter could push the USD/CHF pair to reach the support region near 0.8800 psychological level lined up with September’s low at 0.8795. The...