GBPUSD WEAKNESS PERSISTS The British pound is still struggling to rally above the 1.2800 level against the US dollar as weakness persists in the pair. Bulls need to close the daily candle above the 1.2850 level to encourage the...
The Dow dropped yesterday after the Federal Reserve made a surprise 50 basis point rate cut. In a statement, Jerome Powell said that the Fed would do its part to provide stability as corona-virus spreads internationally. The main concern...
Australian stocks and the Aussie rose after the country’s central bank unexpectedly lowered rates by 25 basis points earlier today. This was the fourth rate cut in less than 12 months. The country’s biggest banks responded by cutting interest...
USDJPY FUNDAMENTAL DRIVERS The US dollar is consolidating around the 108.00 level against the Japanese yen currency, as traders await the US primary election results and the latest coronavirus news. Positive election results for candidate Bernie Sanders could see...
EURUSD BEARISH BELOW 1.1120 The euro currency is back under minor downside pressure against the US dollar after finding strong technical resistance just below the 1.1200 level. Going forward, the 1.1120 level is likely to act as a major...
LTCUSD $58.50 PIVOT Litecoin is attempting to gain upside momentum after the sixth-largest cryptocurrency found buying interest from just above the $55.00 level. LTCUSD bulls need to hold price above the $58.50 level to encourage more technical buying towards...
GBPUSD WATCHING SUPPORT The British pound is under downside pressure against the US dollar after the Bank of England hinted that they may cut interest rates this month. A loss of key Fibonacci support, around the 1.2750 level could...
ETHUSD $238.00 NEEDED Ethereum is attempting to gain traction above the $220.00 level on Tuesday after finding strong technical support above the $200.00 support level last week. Bulls need to anchor the ETHUSD pair above the $238.00 level to...
Global stocks bounced back yesterday as traders started hoping for a stimulus from central banks and governments. In the United States, the Dow and Nasdaq rose by 1293 and 384 points respectively. In Asia, the Nikkei and Shanghai composite...
EURUSD TRACKING HIGHER The euro has continued to recover higher against the US dollar during the European trading session, with the pair heading towards the 1.1100 level. Sellers may look to fade the recent rally in the EURUSD pair...
