The British pound has moved back under the 1.3600 level against the US dollar, after risk-off sentiment came cause sterling to tumble on Friday. Technical analysis highlights that the GBPUSD pair faces strong upcoming support from the 1.3520 area. Overall, the GBPUSD pair is still setting higher highs on the weekly time frame, so bears still need to be careful at...
Bitcoin remains under heavy downside selling pressure as the recent dip-buying demand for the pioneer cryptocurrency has evaporated. Technical analysis highlights the $30,000 support level as a potential buy spot for traders who are bullish towards the BTCUSD pair. To the downside, sustained daily losses below the $30,000 level would be extremely bearish in the...
The US dollar has recovered higher against the Japanese yen currency back above the 103.00 level, following another short-lived drop towards the 102.70 area. Technical analysis shows that the USDJPY pair is still trapped inside a large falling wedge pattern. Traders that are bullish towards the pair will be encouraged if bulls continue to hold the price above the...
The XAU/USD spiked to an intraday high of 1941, which was the highest level in two months. On the four-hour chart, the price is above the rising trendline, signalling that bulls are still in control. The Relative Strength Index has moved to the overbought level of 80. The pair will likely continue rising, with the next target being 1950.
The ETHUSD pair has reversed sharply from the $670.00 resistance zone due to the BTCUSD pair suffering a heavy drop yesterday. A rising price channel on the lower time frames is warning that Ethereum could suffer more losses towards the $570.00 support zone. Traders may attempt to buy the ETHUSD pair around the $570.00 area if an extended price decline below the...
Litecoin has rallied to a new yearly high over the weekend, with the LTCUSD pair following Bitcoin higher, and breaking above the $120.00 level. Higher time frame analysis shows that a huge bullish reversal pattern will form if the LTCUSD pair reaches the $140.00 level. To the downside, sustained weakness below the $110.00 level could cause a strong sell-off...
The euro currency has dropped sharply lower against the US dollar during the European trading session due to an increase in risk-off market sentiment. Technical analysis shows that a drop below the 1.2050 level could cause a major sell-off towards the 1.1900 support level. To the upside, EURUSD short-term bulls are in control while the pair trades above the...