​Chart Of The Day: GBPUSD revisits key support-zone as traders await UK GDP

T2, 11 Th11 2019 13:22


Although the downside break of a short-term symmetrical triangle dragged the GBPUSD to three-week low on Friday, the pair currently stays well above the key 1.2780/70 horizontal support including February low and June month high. Also increasing the importance of the Cable trading is the presence of the UK GDP...

Chart Of The Day: Gold turns short-term weak as staying below 3-month-old support-line

T4, 06 Th11 2019 14:19


Irrespective of the yellow metal's latest bounce, mainly due to the doubts over the US-China trade deal, prices stay below near-term key support-line, now resistance. As a result, bears could keep an eye over 50% Fibonacci retracement (Fibo.) of July-September upside, around $1469, ahead of targeting the 100-day SMA level...

​Chart Of The Day: EURUSD gears up for further upside on NFP-day

T6, 01 Th11 2019 12:20


Following its bounce off 100-bar SMA, EURUSD is heading towards October month high surrounding 1.1165 ahead of the key US employment data, including Nonfarm Payrolls (NFP). However, Overbought conditions of RSI seem to weigh on prices, which if ignored could propel the quote to the seven-week-old rising trend line, at...

​Chart Of The Day: USDJPY follows rising wedge even as BOJ holds bearish bias

T5, 31 Th10 2019 12:38


With the US Fed's third straight rate-cut superseding the BOJ's bearish bias, USDJPY keeps nearly three-month-old rising wedge bearish formation intact. The pattern gets confirmed on the break of 107.90 support while 21-day SMA, at 108.25, can offer an intermediate halt during the declines. Given the quote's daily closing below...

​Chart Of The Day: USDCAD confronts support-turned-resistance ahead of Fed-BOC plays

T4, 30 Th10 2019 12:06


Although oversold RSI seems to challenge the break of a year-old rising trendline, the USDCAD pair needs to provide a daily closing beyond the 1.3100 mark, comprising the support-turned-resistance, to restore buyer's confidence. Following that, prices can rise to September month low near 1.3140 whereas 1.3180 and 200-day EMA level...