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USD Under Pressure USDCNH has seen a sharp sell-off over the last week or so. Part of this can be attributed to the softening we’ve seen in USD while the other driver is clearly the developments we’ve seen in China. On the USD front, the greenback has been well sold recently though the perspectives behind […]
Type: Bullish Continuation Key Levels:Resistance:1.06680Pivot:1.05085Support:1.03315 Preferred Case:The current bias for 6E1! on the H4 chart is bullish . To add to this bias, the price is currently above the Ichimoku cloud , indicating a bullish market. If the bullish momentum continues, expect price to possibly break the pivot at 1.05085, where the previous high is […]
Gold has pulled from the resistance at the level of 1820, forming an engulfing. Now, the asset’s price has pulled to the middle point of the engulfing. This might signify the upcoming drop. Gold is likely to drop to the level of 1735 next. The Euro is slowly heading down, targeting the level of 1.0350 […]
The Japanese yen against the US dollar remains neutral. The quote is 137.05. Curiously enough, the market somehow manages to keep the yen balanced. With the huge difference between monetary policies of the Bank of Japan and the US Federal Reserve System, the JPY continues devaluation. However, due to excessive market expectations concerning the pause […]
On Thursday, the British pound against the US dollar is slightly declining, but looks stable, on the whole. The quote is 1.2182. The pound is taking advantage of the weakness of the USD quite efficiently and remains not far from the peaks of June. Yet indeed, Great Britain and the GBP have quite a bunch […]
Type: Bullish Continuation Key Levels:Resistance:2542Pivot:2422Support:2475 Preferred Case:Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to head towards the resistance at 2542, where the 78.6% Fibonacci line and previous high […]