Chart Of The Day: 200-day SMA and 50% Fibonacci challenge EURGBP buyers

Wed, 22 May 2019 13:07

EURGBP's 12-day run-up couldn't cross 0.8790 resistance-confluence comprising 200-day SMA and 50% Fibonacci retracement of January – March declines. As a result, 0.8730/25 horizontal support regains market attention, a break of which can divert sellers towards 100-day SMA level of 0.8685. In a case where prices keep trading southwards under 0...


Chart Of The Day: WTI crude oil seems up for another pullback

Tue, 21 May 2019 13:19

Even if a fortnight old ascending trend-channel portrays the WTI crude's strength, the energy benchmark might find it hard to extend its recent upside. The reason being nearness to the channel-resistance figure of $64.00 and $64.60/70 horizontal area comprising multiple levels since early April. Should the black gold crosses $64.70...


Chart Of The Day: Multiple resistances stand tall to question USDJPY’s latest recovery

Mon, 20 May 2019 12:48

Despite bouncing off the three-month-long descending trend-line, the USDJPY pair has multiple challenges to justify its latest uptick. These are 100-day SMA level of 110.50 followed by 110.60 confluence comprising immediate descending trend-line and 23.6% Fibonacci retracement. In a case prices rally beyond 110.60, 111.00, 111.70 and 112.20 could entertain...


Chart Of The Day: Four-month-old support-line can challenge AUDUSD’s downside

Fri, 17 May 2019 15:15

With an eight-month high Australian unemployment rate signaling the Reserve Bank of Australia's (RBA) rate cut, the AUDUSD pair dropped to the lowest since January's flash crash just after the jobs report. However, a downward slanting trend-line stretched since January 07 can question sellers around 0.6880/75, failing to which can...


Chart Of The Day: Four-month-old support-line can challenge AUDUSD’s employment data-driven downside

Thu, 16 May 2019 14:30

With an eight-month high Australian unemployment rate signaling the Reserve Bank of Australia's (RBA) rate cut, the AUDUSD pair dropped to the lowest since January's flash crash just after the jobs report. However, a downward slanting trend-line stretched since January 07 can question sellers around 0.6880/75, failing to which can...