Gold had been making headway to the downside ahead of the NFP event. Bulls are stepping in below the prior week's low in $1,802, a break of which opens $1,830 target. If there is a miss in expectations in the NFP's report, the dollar could come under pressure at the resistance and a 38.2% Fibonacci retracement has a confluence with prior structure. Consequently,...
The Eurozone single currency has surged by 1.90% against the Canadian Dollar since January 21. The surge was stopped by the 200– period simple moving average last week. All things being equal, the currency pair is likely to continue to edge higher during the following trading sessions. The potential target for the exchange rate would be near the 1.55575 level.
USD/ZAR has been trading in a tight range above its 14.5044 December trough over the past few weeks before suddenly surging higher at the beginning of this year and reaching the 15.4966/15.7362 resistance area. It is made up of the mid-to-late November highs which may short-term cap. Once the pair overcomes the 15.4966/15.7362 resistance area, the 2020-2021...
The bias in the USD/MXN still favors the upside, despite the recent correction. USD/MXN is trading modestly higher on Wednesday, after retreating for two days. Price held above the 20.00 area, keeping a bullish bias in the short-term. Another test of the 20.45/50 area seems probable (downtrend line/ 100-day simple moving average). The positive bias has a critical...
The USDJPY fell to a new low and in the process has traders targeting the key 200 MA at 104.622. The pair in the London morning session rebounded higher, but stalled at the 50 MA. On the way to the downside (looking at the hourly chart below) the price action saw the pair move below the 105.00 area (and a swing area just below that level), and another swing area...
We have notice and bearish forecast on this pair but there was and fasle breakout to the upside which didnt continue now we are entering to go short on this pair NZDCAD Entry 0.91260 TP 0.90644 SL 0.91481
This was in and downtrend for ah very longtime after breaking out of that trend its already retest and heading for the upside i strongly believe that its gonna continue going up
The USDCHF just moved down to test the low from January 13 at 0.8849. The low price reached 0.88474. Am hoping to see this pair go short and create ah double bottom at that support level of 0.8746 before move to the upside.
Technically, the quote stretched its U-turn from 200-HMA and breaks 50% Fibonacci retracement of January 07-19 upside, which in turn directs the sellers to a 61.8% Fibonacci retracement level of 1.0737. Should bears refrain from bouncing off the key Fibonacci retracement support, the 1.07000 threshold will flash on their radars. Meanwhile, an upside clearance of...