tradingconmike

tradingconmike

The FX:USDJPY pair struggles to capitalize on its weekly gains registered over the past three day and comes under some selling pressure on Thursday. Spot prices remain depressed through the early European session and currently trade just below the 151.00 mark, or a one-week high touched on Wednesday. The recent rise in the USD/JPY pair triggers speculations...

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FX:EURUSD turns positive late on Wednesday's North American session, but it remains shy of reclaiming the 200-day moving average (DMA) at 1.0802, seen as the next resistance level for buyers. The pair is trading at 1.0708, after forming a ‘tweezers bottom’ chart pattern, with bullish implications. The daily chart portrays the pair is neutrally biased, though...

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FX:NZDUSD dives to a three-day low of 0.5906 below the 50-day moving average (DMA) at 0.5913, despite the Greenback (USD) trading unchanged as shown by the US Dollar Index (DXY), while US Treasury bond yields drop for the second consecutive day. The pair exchanges hands at 0.5910, down 0.39%. The downtrend portrayed in the NZD/USD daily chart suggests the pair...

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The FX:GBPJPY reverses its course after posting decent losses of 0.20% on Tuesday and has risen past yesterday’s high of 185.46, as buyers target the current week’s high of 185.95. At the time of writing, the cross-pair is trading at 185.57 for a gain of 0.22%. Even though the uptrend remains intact, price action seems overextended, though, in the short term,...

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Gold's extension into three straight declining days is sending the OANDA:XAUUSD back towards the 200-day Simple Moving Average (SMA) currently near $1,935. Recent momentum in the Spot Gold chart has left both a lower low and a higher high acting as technical boundaries for trend momentum; the near-term technical ceiling sits at $2,009 while the floor on any...

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Upon analyzing the chart, bearish sentiment is evident for the short term for the OANDA:XAGUSD Relative Strength Index (RSI) resides below its midline in negative territory, exhibiting a southward trajectory which aligns with a negative indication from the Moving Average Convergence Divergence (MACD), as shown by the presence of red bars, underscoring the...

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TVC:DXY climbs to the vicinity of the 106.00 region amidst the positive price action so far this week. In case the buying interest gathers extra pace, the index could revisit the so far November high at 107.11 (November 1) ahead of the 2023 peak of 107.34 (October 3). In the meantime, while above the key 200-day SMA, today at 103.55, the outlook for the index...

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FX:EURJPY extends the march north of the fifth session in a row and clinches a new 2023 peak past the 161.00 hurdle on Wednesday. Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.05 (November 8) is expected to face the next significant resistance level not before the 2008 top of...

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OANDA:XAUUSD bids tumbled to $1,956.73 in Tuesday's risk-off slide, bringing the XAU/USD's two-day performance to -1.83%, and despite a recovery back towards the $1,970 region, Gold remains pinned in bear country for the time being. XAU/USD is down 2% from the last swing high above the $2,000 major handle, but Spot Gold bids still remain above the 200-day Simple...

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The FX:AUDUSD suffered significant losses in Tuesday's session, reaching a daily low near 0.6400 with a decline of 1.05% and then stabilising around 0.6420. The Reserve Bank of Australia (RBA) hiked rates by 25 bps to 4.35% and left the door open to further increases, but the USD strength is pushing the pair downwards. In line with that, the daily chart...

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FX:EURUSD faces increasing selling pressure and returns to the sub-1.0700 region afer hitting new highs near 1.0750 at the beginning of the week. In case the downward bias picks up extra pace, the pair could extend the pullback to the 55-day SMA near 1.0650, which is expected to provide temporary contention. In the meantime, while below the 200-day SMA at...

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TVC:DXY extends the rebound from Monday’s lows in the sub-105.00 zone and revisits the 105.70 region on Tuesday. In case the buying interest gathers extra pace, the index could revisit the so far November high at 107.11 (November 1) ahead of the 2023 peak of 107.34 (October 3). So far, while above the key 200-day SMA, today at 103.53, the outlook for the index...

tradingconmike

FX:EURJPY advances to fresh YTD highs just above 161.00 the figure on Tuesday. Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.02 (November 6) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23). So far, the longer term positive...

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The FX:USDCAD pair recovered vertically to near 1.3750 as investors cleansed positions from risk-perceived assets and rushed back to the risk-aversion theme. The Loonie asset delivered a sharp recovery as the US Dollar Index (DXY) rebounded to near 105.60. S&P500 futures have reported some losses in the London session, portraying a dismal market mood. The USD...

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OANDA:XAGUSD extends the previous day's rejection slide from the very important 200-day Simple Moving Average (SMA) and continues losing ground for the second successive day on Tuesday. The downward trajectory picks up pace during the early part of the European session and drags the white metal to a two-day low, around the $22.75-$22.70 region in the last...

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FX:EURUSD losses ground for the second successive day, trading lower near 1.0710 aligned with the psychological support level at 1.0700 during the Asian session on Tuesday. A firm break below the latter could inspire the bears of the EUR/USD pair to navigate the support region around the mid 1.0600 and the 14-day Exponential Moving Average (EMA) at the 1.0631...

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The FX:GBPJPY is seeing a mild relief pullback towards the 185.00 price level after last week's runup in the pair sent the Guppy just shy of the 186.00 handle. Monday's pullback sees the pair testing back towards the 50-hour Simple Moving Average (SMA) currently rising into 184.60. Intraday price action is getting snarled on the 21-hour Exponential Moving...

tradingconmike

TVC:DXY accelerates its losses to new multi-week lows near 104.80 on Monday. The continuation of the selling impulse appears likely in the very near term. That said, the next support is expected to turn up at the weekly low of 104.42 (September 11), ahead of the temporary 100-day SMA at 103.98. So far, while above the key 200-day SMA, today at 103.51, the...