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The GBP/USD cross has experienced a bullish trend for the past day. However, it seems that this trend may be coming to an end, as described below. Forex traders can take advantage of this imminent downward movement by entering short positions at an excellent entry price. • The technical indictors used are the Slow Stochastic, [...]
After stretching the Fibonacci Retracement lines, it becomes very clear that the pair is testing a very significant support level at the moment. If the pair will breach this level, the next support level looks to be located at 7.60. • The chart below is the USD/ZAR chart by ForexYard. • The technical indicators used are [...]
In yesterday’s trading, the USD/NOK cross experienced much bearishness, as it now stands at 5.6840. However, it seems that this trend may be coming to an end. I will illustrate below that the USD/NOK may very well be heading for a reversal. Forex traders have the opportunity to wait for the upward breach on the [...]
The USD lost some ground against major counterparts Wednesday after the Federal Reserve left Interest Rates unchanged and made only slight changes to its monetary statement. The greenback slid 0.9% to $1.4860 per EUR from $1.4724 yesterday. It touched $1.4902, the weakest level since Oct. 27. The U.S dollar suffered a broad-based decline, trading lower [...]
The U.S. Unemployment Claims Report will set the pace of the USD today. Despite the Dollar diving against the GBP so far today, in the coming hours there is some mouthwatering data that is set to be released from the U.S. Britain kept her rates unchanged earlier today, as the Bank of England (BoE) revealed [...]
USD/JPY sustained upward movement has finally pushed its price into the over-bought territory on the hourly chart’s RSI. Not only that, but there actually appears to be a bearish cross on the Slow Stochastic pointing to an imminent downward correction. Forex traders have the opportunity to wait for the downward breach on the hourlies and [...]
The EUR’s trends for the upcoming day are likely to be set by the outcome of the German ZEW Economic Sentiment publication at 10:00 GMT. The forecast is 58.9, versus the 56.9 previous result. A result matching the forecast, or even better is likely to boost the EUR. Therefore, we could see the EUR/USD cross [...]
European’s currency rose against a broadly weaker U.S. dollar yesterday after the Group of 20 promised to keep stimulus policies in place until the global economic recovery was assured. The EUR is trading about 1% higher against the U.S. dollar amid general risk appetite for high-yielding assets on Tuesday. The European currency’s strength was in [...]
Following last week’s employment data from the United States it appears as if the US Dollar has entered a free-fall and many other global currencies are reaping the benefits. The Scandinavian currencies have largely entered bullish trends against the greenback, but also surprisingly against the EUR. While some analysts were concerned about a swift Swedish [...]
The dollar rose against most of it major currency pairs on Thursday after U.S. weekly jobless claims came in lower than expected.The weekly report has had greater impact on trading in recent months because of investor concern that the U.S. economic recovery will be tepid and creates few new jobs to replace those lost during [...]