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 ...
EURUSD: Retail trader data shows 57.5% of traders are net-long with the ratio of traders long to short at 1.35 to 1. In fact, traders have remained net-long since Nov 23 when EURUSD traded near 1.14026; price has moved 0.5% lower since then. The number of traders net-long is 0.2% lower than yesterday and 17.1% lower from last week, while the number of traders net-short is 11.4% lower than yesterday and 8.0% lower from last week. We typically ...
The AUDUSD price is now close to support from the lower bound of a rising channel that has been in place since late October. It is also sitting on the 20-day moving average and is not far above the 50-day and 100-day moving averages, suggesting that any further near-term downside is limited. This all suggests that a move closer to the top of the channel is a possibility in the next few days even ...
In the aftermath of EUR/GBP's largest climb in a single day since June 2016, the pair is attempting to overturn its dominant downtrend. Looking at the daily chart below, the Euro climbed against the British Pound above the descending trend line from August. However, further upside progress was notably lacking and EUR/GBP was unable to push above the October high. In its attempt to do that, a horizontal range of resistance has formed between ...
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