AUDUSD’s uptrend seems to be resuming at the time of writing on the daily chart considering highs on 3 September and 20 and 28 October. The 50 SMA from Bands is about to complete a golden cross above the 100 SMA, but the 200 SMA is still an important resistance which the price is currently…
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The clear target for old buyers is the 161.8% weekly Fibonacci extension just below $90. Finding an entry as a new buyer is likely to be difficult here, but a bounce seems possible from the 38.2% zone of the weekly Fibo fan and definitely from the psychological area around $80. Brent has been strongly overbought…
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The 61.8% area of the weekly Fibonacci fan seems to be quite a strong dynamic support from which a bounce might be expected, but the bunching of the 50, 100 and 200 SMAs might make significant movement upward from here a challenge. 15 July’s high around $1,834 seems to be the main static resistance in…
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The golden cross of the 50 SMA over the 100 a fortnight ago came ahead of more gains, although price has now moved clearly into overbought based on the slow stochastic (15, 5, 5). The weekly Fibonacci fan has probably lost relevance now that the medium-term trend is clearly upward, but 61.8% might still limit…
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From a technical perspective, oil’s uptrend since last summer is clearly still active for now. Brent has failed to break below the 50 SMA from Bands, and there is currently no indication of overbought from either Bollinger Bands (50, 0, 2) or the slow stochastic (15, 5, 5). The key area on this chart for…
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USDJPY Expect Bulls to defend 111.00 key support this week. Summary: Long term up trend remains in tact with nearby support at 110.80-111.00. Over the last few days we can see multiple Tailed Bar buy signals forming at this support area. If support holds here we could see a substantial move back towards 113.18. Trade Idea: Wait for a…
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EURUSD Expect sellers to defend 1.1840 key technical level this week Summary – The downtrend that we discussed last week in the EURUSD remains intact whilst price is contained under the resistance at 1.1838-50 area. Price retraced modestly higher last week but we expect price to continue lower once again from nearby resistance levels. Forecast…
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AUDUSD – Aussie/dollar weakness continues As we discussed in our May 3rd commentary, the AUDUSD continued losing ground last week. Price has been in a clear downtrend since mid-March and recent price action has shown that sellers are still in control of this market. We have been looking to sell this pair in light of…
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EURUSD – Euro/dollar remains firm above support The EURUSD remained buoyant last week even after a bearish reversal pin bar formed on Thursday. Price held it’s ground on Friday and formed an opposing bullish pin bar just above 1.0675 near-term support, indicating that bulls are still clearly in control here. We are looking to trade…
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This article was written by Ipek Ozkardeskaya, Senior Market Analyst at FCA regulated broker London Capital Group Holdings plc (LON:LCG). Gold traded at $1295.56 on Monday, the highest level since Donald Trump’s election triggered the ‘reflation’ rally across the global asset markets and the US yields. After reaching their highest by mid-March, the US 10-year…
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