XAGUSD With the formation of an Ending wedge pattern, the long-term focus remains to the upside. A break of 16.06 and the measured move target is 21.13. Broken the flag formation to the downside. Reverse trend line resistance is located at 15.22. Bespoke resistance is seen at 15.16. This formation…

The Canadian dollar is up slightly on Thursday. Currently, the pair is trading at 1.3435, up 0.25%. On the release front, there are no Canadian events. The U.S. Bureau of Economic Analysis on Thursday reported that the real gross domestic product (GDP) increased at an annual rate of 2.2% in…

The Royal Bank of New Zealand today kept interest rates unchanged but turned dovish, saying ‘the more likely direction of our next OCR move is down’. The central bank pointed to below target inflation, slowing domestic and global growth and said that ‘the risk of a more pronounced global downturn…

EUR/GBP is taking the bids around 0.8580 while heading towards European session. Though, 0.8595 - 0.8600 region including 50% Fibonacci retracement of March 13 to 21 advances is likely important resistance to watch. Should prices rally beyond 0.8600, 0.8640 and 0.8670 might entertain buyers ahead of pleasing them with 0.8700…

GBP/USD is suffering from a bit of downside Momentum but the Relative Strength Index is fairly balanced around 50. And while the pair trades below the 50 SMA, it is well above the 200 SMA. Support awaits at 1.3100 which is where the 200 SMA meets the chart. The round…

NZDUSD holding support at 6870/60 allows recovery to towards 9-month trend line resistance at 6910/15 before 200 weeks moving average at 6930/33. Shorts need stops above 6945. A break higher targets 6970/80. Longs at 6870/60 need stop below 6855. A break lower targets 6830/25 & 6810.

EURUSD lost its upside momentum yesterday after testing the 1.14300 mark. With poor economic PMI which came out 51.3 vs 52.0 expected, released by the Markit Economics, EURUSD dropped -0.58% as of writing at 1.13000 region. Bulls are expected to show up for the last day of this week with…

USDJPY holding below 110.80/75 retests support at 110.45/35. A break below 110.30 is a sell signal targeting 110.10/00 & 109.70/60. First resistance at 110.75/85 but above here meets a selling opportunity at 111.20/30 with stops above 111.45.

From the start of this week USD has been a two-edged after breaking the ascending trendline. The USDJPY pair was struggling to make a decision since last week focusing on FOMC and Fed. Staying with the Fed, the fact that some participants have been looking for a slightly hawkish tilt…

EURJPY unable to make a sustained break above the 100 day moving average at 126.55 so far this week a trend line resistance 126.80/85. A break higher tests important 200 week moving average resistance at 127.13/18. A lot for bulls to tackle. First support at 126.15/05 but below 125.90 targets…