NZDUSD has consistently traded lower in recent weeks and now trades below resistance from the trendline originating on December 4th. The head and shoulders pattern sent the pair lower and after a strong Friday performance, the Kiwi looks poised to test the trendline next week. A failed test would serve as strong confirmation for a sustained move lower and continuation of the recent trend. Another price point to watch in the week ahead includes ...
Technical Forecast for US Dollar: Bearish We have started the new trading year in earnest, but the Dollar continues to hold to the range it maintained through the final two months of 2018. That is unlikely to be the case for much longer however. The rest rate of volatility has increased across the entire financial system. We have seen volatility in US equities in particular surge both in price-based measures (like the ATR) as well as implied ...
GBP/USD has put in a bearish move to start the week, pulling up shy of the 1.2500 psychological level as the pair tumbled down to fresh 18-month lows. At the source of the selling was another negative headline around Brexit as Theresa May called off this week’s Parliamentary vote. This adds an element of chaos to an already uncertain situation, and the net response from traders was a 200+ pip sell-off as additional uncertainty was incorporated into GBP prices. ...
Australian Dollar Forecast: AUD/USD, AUD/JPY and EUR/AUD Trend Lines Broken Fading momentum in the Australian Dollar preceded losses against the greenback, Japanese Yen and Euro. With trend lines broken, AUD/USD, AUD/JPY and EUR/AUD may extend their reversals. British Pound Forecast: Sterling Remains Weak Both the four-hour and daily GBP/USD chart point to lower prices ahead with a re-test of the 1.2660 low on the cards. ...
Last week, the Euro entered consolidation mode against the British Pound after what appeared to be a false breakout above a falling trend line from August. Since then, the range of price action has solidified as traders eagerly await a breakout. The upper boundary of resistance is a horizontal range between 0.89449 and 0.89235. Meanwhile the lower border is between 0.88384 and 0.88108. There is an early warning signal that EUR/GBP's next ...
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