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EURGBP (D) - medium term bearish bias The pair started to form a double top after the euro failed to break above the previous high of 0.8590. This bearish pattern was confirmed by a dip below the major daily support level of 0.8450. Now that the 20-day moving average is crossing below the 30-day one, sentiment has turned downbeat. We would expect the euro to...

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NZDCAD (1H) - short term bearish bias The latest rally in the New Zealand dollar has reached the previous high of 0.8690. This strong resistance level is likely to keep the price capped as buyers started to take profit. Stiff selling pressures have intensified as fresh sellers also joined in to batter the kiwi. An over-extended RSI suggests an over-bought...

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EURJPY (1H) - short term bearish bias The euro continues to grind its way down as more sellers joined the bearish trend. The downward sloping moving averages are clear indication that sentiment is still pessimistic. These averages would keep the price in check as strong resistance overhead. As the correction deepens, we would expect the pair to drop towards the...

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AUDUSD (1H) - short term bullish bias The Australian dollar jumped overnight and started to recoup losses from last week's sell-off. The RSI had reached the over-sold area which suggested an over-extension. As the indicator recovered into the neutral zone, a bullish engulfing candle broke above the moving averages and the bearish trend line. This is a strong case...

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GBPUSD (D) - medium term bullish bias The British pound is still in a triangle-shaped consolidation phase after its meteoric rise late last year. The breakout above the 2019 high of 1.3300 has turned sentiment around and the pair is likely to continue on its way up. The bullish trend line has been a strong demand level where buyers rush in to support the price....

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NZDCHF (1H) - short term bullish bias The Swiss franc is showing weakness across the board on Wednesday. After a rally above the psychological level of 0.6400, the New Zealand dollar has been consolidating in a 50-pip range between 0.6370 and 0.6420. Buyers have been looking for an opportunity to push the price back up ever since the RSI showed an over-extension...

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USDSEK (1H) - short term bullish bias The US dollar has regained strength overnight and is aiming for the previous high. Last week's rally had shown signs of exhaustion with the RSI indicator forming a double top in the over-bought area. Yesterday's pullback was a temporary pause to let buyers catch their breath. The demand zone of 9.4900 revealed strong buying...

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EURUSD (1H) - short term bullish bias The euro spent the previous day consolidating after the recent sell-off. The short side has struggled to push the pair lower. Instead, a bullish RSI divergence showed that the downside momentum has lost steam, a heads up for sellers that a reversal could be underway. The price rallied above the bearish trend line and built...

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GBPJPY (1H) - short term bullish bias The pound sterling seems to have found buying interests around the demand zone of 142.80. The RSI dipped into the over-sold zone as a sign of over-extension from last week's sell-off. The indicator has recovered since with the price breaking above the moving averages. This is a strong suggestion that sentiment has improved...

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AUDCAD (1H) - short term bearish bias The Australian dollar weakens across the board on Tuesday as sellers reaffirm their commitment. The breakout below the floor of 0.8990 has triggered a series of lower lows as sentiment turned downbeat. The bearish MA cross was a signal that the price action was heading down after it failed to stay above 0.9030. We would...

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USDCAD (1H) - short term bullish bias The US dollar is currently hovering under the 30-day moving average. This also coincides with the major resistance level of 1.3075 on the hourly chart. Will the price find enough strength this time and push through the roof? There has been strong buying interest at 1.3030. After two days of consolidation, the price started to...

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EURUSD (1H) - short term bearish bias The greenback resumes its way on the upside across the board on Monday. Following a bearish RSI divergence last week, the euro failed to hold on to key support levels of 1.1145 and 1.1120. The price has been sliding along the 20 and 30-hour moving averages and a bearish trend line, which would become resistance in case of a...

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USDCHF (1H) - short term bullish bias The US dollar continues to recover against the Swiss franc on Monday. The bullish RSI divergence showed that the selling pressure was waning. The breakout above the bearish channel and then the bullish MA cross were confirmations that buyers have gained control of the price action. The greenback has since achieved a series of...

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EURCAD (D) - medium term bearish bias After a two-month-long upside correction, the euro resumed its downtrend against the Canadian dollar. The breakout below the major support level of 1.4550 was a confirmation that bearish sentiment prevailed. The 20-day moving average crossed below the 30-day one in a classic bearish turn of event. The pair is likely to grind...

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WTI (1H) - short term bullish bias Following last week's sharp decline, the oil price has stabilised above 57.50. This week's range-bound action has seen increasing buying interests to get in at the dip. The bullish RSI divergence indicated that selling pressures have lost steam. The breakout above 58.60 along with a bullish MA cross suggested that a reversal was...

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EURGBP (1H) - short term bearish bias Both recent tests of the major level of 0.8600 failed to close above with conviction. The path of least resistance turned out to be on the downside. The bearish RSI first saw a deceleration in the rally while the indicator crossed the over-bought line. The breakout below the floor of 0.8540 and the bearish MA cross were...

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USDNOK (1H) - short term bearish bias The US dollar's general retreat today is giving the Norwegian Krone a push. The greenback has been in retreat since it met stiff selling pressure between the 20 and 30-day moving averages. On the hourly chart, the bearish RSI divergence was the warning sign of a waning bullish momentum. The U-turn was materialised by a...

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USDCHF (1H) - short term bearish bias The short-lived recovery in the US dollar came to an end at the 20-day moving average (0.9750). The doji candle was a sign of strong selling pressures. The pair is now sinking towards September 2018 lows (0.9580). On the hourly chart, the greenback has been drifting lower within a well-defined bearish channel. Both moving...