Although June 1989’s low test EUR/USD bears, a clear downside break of the 2.5-month-old support line, now resistance around 0.9850, keeps sellers hopeful
GBPUSD renews 37-year low, breaking four-month-old support line and 61.8% Fibonacci Expansion (FE) of the GBPUSD pair’s moves between August 17 and September 13.
Gold holds lower ground near the yearly bottom as the market braces for the Fed’s rate hike.
EURUSD gyrates between the 50-DMA and a two-month-old support line surrounding the yearly bottom flashed last week.
NZDUSD dropped to the lowest level since May 2020 before bouncing off 0.5940 on Friday.
Gold renewed the yearly bottom on breaking the fortnight-old support line, now resistance around $1,700, the previous day.
AUDUSD bounced off a two-month-old support line as nearly oversold RSI pushed back the bears.
GBPUSD seesaws below 50-SMA after breaking the weekly support line, not to forget to mention the reversal from a three-week-old horizontal hurdle.
On Monday, EURUSD rose past 200-SMA for the first time in a month and formed a bullish channel.
Despite the latest pullback from a 24-year high, the USDJPY remains inside a five-month-old megaphone formation suggesting a further widening of the uptrend.
GBPUSD crosses the monthly bearish channel, also the 50-SMA hurdle, after briefly declining to the lowest levels since 1985.
EURUSD fades bounce off the lowest levels in almost two decades as traders await the European Central Bank’s (ECB) second rate hike.