Gold price could decline further while Crude Oil is rising
Gold price failed to break the $1,302 and $1,304 resistances, and recently declined below $1,292. Crude oil price is gaining momentum and it could trade above the $63.80 resistance.
Gold Price Technical Analysis
Gold price started a decent recovery earlier this week from the $1,280 and $1,282 support levels against the US Dollar. The price surged above the $1,290 resistance level and climbed above the $1,300 level.
The price traded as high as $1,303 on FXOpen and later declined. It seems like the price struggled to stay above the $1,300 and $1,302 levels. As a result, there was a sharp decline below the $1,295 and $1,290 support levels.
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Results 11 to 20 of 226
Thread: FXOpen Technical Analysis
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17-05-2019, 08:16 AM #11
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20-05-2019, 07:30 AM #12
GBP/USD and EUR/GBP: British Pound Sell-Off Continues
GBP/USD declined heavily below the 1.2900 and 1.2800 support levels to enter a bearish zone. EUR/GBP surged higher and settled above the 0.8680 and 0.8700 resistance levels.
GBP/USD Technical Analysis
The British Pound started a significant downward move from well above the 1.3000 level against the US Dollar. The GBP/USD pair declined below a few important supports such as 1.2950 and 1.2900.
The pair even broke the 1.2800 support and settled below the 50 hourly simple moving average. The decline was such that the pair traded close to the 1.2700 level and a new monthly low was formed near 1.2711 on FXOpen.
Continue reading GBP/USD and EUR/GBP technical analysis and important takeaways...
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22-05-2019, 08:18 AM #13
EUR/USD declining while USD/JPY gathering momentum
EUR/USD started a strong downward move from well above the 1.1250 level. USD/JPY is currently moving higher and it could continue to rise towards the 110.80 level.
EUR/USD Technical Analysis
The Euro started a strong downward move after it failed to gain pace above 1.1260 against the US Dollar. The EUR/USD pair declined heavily and broke many supports such as 1.1240, 1.1220 and 1.1200.
The pair even broke the 1.1180 support level and the 50 hourly simple moving average. It traded as low as 1.1141 on FXOpen and started an upside correction. It moved above the 1.1160 level and the 23.6% Fib retracement level of the recent decline from the 1.1223 high to 1.1141 low.
Continue reading EUR/USD and USD/JPY technical analysis and important takeaways...
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24-05-2019, 09:02 AM #14
EUR/JPY and GBP/JPY: Downtrend Remains Intact
The Euro and British Pound started a strong decline against the Japanese Yen. EUR/JPY is facing resistance near 122.65 and GBP/JPY could struggle to clear 139.20.
EUR/JPY Technical Analysis
After trading as high as 123.73, the Euro started a major decline against the Japanese Yen. The EUR/JPY pair broke many important supports such as 123.50, 123.20 and 122.65 to move into a bearish zone.
The pair even settled below the 122.65 support and the 50 hourly simple moving average. A new weekly low was formed at 122.14 on FXOpen and the pair recently started an upside correction.
Continue reading EUR/JPY and GBP/JPY technical analysis and important takeaways...
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27-05-2019, 08:43 AM #15
GBP/USD and USD/CAD Signaling More Upsides
GBP/USD is slowly recovering and it is currently trading above 1.2680. USD/CAD is likely to resume its upward move above the 1.3550 and 1.3580 resistance levels.
GBP/USD Technical Analysis
The British Pound declined heavily this past week and broke the key 1.2820 support area against the US Dollar. The GBP/USD pair extended losses below the 1.2750 and 1.2700 support levels.
The pair even broke the 1.2650 support level and the 50 hourly simple moving average. It traded close to the 1.2600 support area and formed a swing low at 1.2605 on FXOpen.
Continue reading GBP/USD and USD/CAD technical analysis and important takeaways...
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29-05-2019, 09:01 AM #16
EUR/USD Under Pressure, and USD/CHF Approaching Key Support
EUR/USD struggled to stay above the 1.1200 level and recently declined below 1.1185. USD/CHF is currently correcting lower, but it seems to be approaching a key support near 1.0050.
EUR/USD Technical Analysis
The Euro started a strong rise from the 1.1107 swing low against the US Dollar. The EUR/USD pair climbed above the 1.1155 and 1.1200 resistance levels. However, the bulls failed to keep the pair above the 1.1200 level.
A swing high was formed at 1.1215 on FXOpen and the pair recently started a downside correction. It broke the 1.1200 and 1.1185 support levels to enter a short term bearish zone.
Continue reading EUR/USD and USD/CHF technical analysis and important takeaways...
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31-05-2019, 08:16 AM #17
Gold Price Climbing While Crude Oil Price Is Declining
Gold price started a decent upward move after forming a support base near $1,274. Crude oil price declined heavily and it remains at a risk of more losses below $55.00
Gold Price Technical Analysis
Gold price found support near the $1,270 level and recently started an upward move against the US Dollar. The price settled above the $1,274 pivot level and extended gains above the $1,280 level.
The recent rise was positive above the $1,285 and $1,290 resistance levels. Moreover, there was a close above the $1,285 level and the 50 hourly simple moving average.
Continue reading Gold and Oil technical analysis and important takeaways...
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10-06-2019, 09:52 AM #18
GBP/USD and USD/CAD: US Dollar Showing Signs Of Weakness
GBP/USD gained pace this past week and recovered above the 1.2700 resistance. USD/CAD declined steadily below 1.3300, signaling short term US Dollar weakness.
GBP/USD Technical Analysis
The British Pound found support near 1.2550 and 1.2560 against the US Dollar, and started a fresh recovery this past week. The GBP/USD pair traded above the 1.2600 and 1.2650 resistance levels to move into a positive zone.
The pair even broke the 1.2700 resistance and the 50 hourly simple moving average. The bulls gained momentum above 1.2720 and a new swing high was formed near 1.2762 on FXOpen.
Continue reading GBP/USD and USD/CAD technical analysis and important takeaways.
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12-06-2019, 11:25 AM #19
EUR/USD gaining momentum while USD/CHF is recovering
EUR/USD formed support near 1.1215 and climbed steadily in the past few days. USD/CHF is currently recovering from the 0.9859 swing low and it could correct further higher.
EUR/USD Technical Analysis
The Euro started a strong upward move from the 1.1150 swing low against the US Dollar. The EUR/USD pair climbed above the 1.1180 and 1.1200 resistance levels. The pair even surged above the 1.1250 resistance area.
The recent gains were positive, with a close above the 1.1300 level and the 50 hourly simple moving average. During the rise, there was a break above a couple of bullish patterns near 1.1255 and 1.1310 on the hourly chart of EUR/USD.
Continue reading EUR/USD and USD/CHF Technical Analysis and Important Takeaways...
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21-06-2019, 08:58 AM #20
Gold Price and Crude Oil Price Rally Significantly
Gold price rallied sharply and broke the $1,350 and $1,400 resistance levels. Similarly, crude oil price gained bullish momentum and broke the $55.00 resistance area.
Gold Price Technical Analysis
Gold price formed a solid support base above $1,350 and recently rallied above $1,380 against the US Dollar. The price gained bullish momentum above $1,390 after the Fed indicated possibilities of a rate cut in the near future.
The recent upward move was strong since the price even broke the $1,400 resistance area and settled above the 50 hourly simple moving average. It climbed towards the $1,415 level and a new monthly high was formed near $1,411 on FXOpen.
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