somrat4030
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EUR/USD has been easing back over the course of the past week, with the price falling into the 76.4% Fibonacci support level.
The recent attempt to regain ground is set within a wider downtrend from this pair, bringing the potential for a move lower before long. A break below $1.1572 would bring about a fresh bearish outlook for the pair. However, for now the question is whether we see the price turn upwards from the 76.4% Fibonacci support level or not.
Moreover, The EURUSD pair keeps its stability below 1.1615, and didn’t show any strong move yesterday, thus, the bearish trend scenario will remain valid as it is without any change, supported by moving below the EMA50, reminding you that our main waited target is located at 1.1525.
We should note that breaching 1.1615 and holding above it will lead the price to recover and head towards 1.1670 initially.
The expected trading range for today is between 1.1525 support and 1.1650 resistance.
The expected trend for today: Bearish.
On the other hand, NZDUSD buyers have re-emerged after the minor price retreat but attempt to limit sellers’ ruling power are looking to have been in vain. As of late, the trendless simple moving averages (SMAs) are proposing a more neutral bearing in the pair.
The Ichimoku lines are reflecting the fresh rally and are indicating a pause in positive momentum, while the short-term oscillators are transmitting conflicting messages of directional impetus. The MACD, north of the zero thresholds, is keeping above its red trigger line, while the RSI is looking to fall further in bullish territory. Moreover, the stochastic oscillator is promoting the price pullback in the pair as its negative charge is showing no signs of abating.
On the other hand, GBP/AUD has been falling steadily since reaching a recent high at 1.9155 on August 20, dropping to around 1.8296 at the time of writing. Those losses were extended Wednesday even though Australia reported that its inflation rate fell to 3.0% year/year in the third quarter – below both the forecast 3.1% and the previous 3.8%. However, GBP/AUD is now approaching an important band of support that should at least stem the losses for a while.
As the chart below shows, GBP/AUD traded just above the 1.82 level throughout June and that level will need to be broken convincingly if the downturn is to extend. More likely it will steady there, with a minor rally following.
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EUR/USD has been easing back over the course of the past week, with the price falling into the 76.4% Fibonacci support level.
The recent attempt to regain ground is set within a wider downtrend from this pair, bringing the potential for a move lower before long. A break below $1.1572 would bring about a fresh bearish outlook for the pair. However, for now the question is whether we see the price turn upwards from the 76.4% Fibonacci support level or not.
Moreover, The EURUSD pair keeps its stability below 1.1615, and didn’t show any strong move yesterday, thus, the bearish trend scenario will remain valid as it is without any change, supported by moving below the EMA50, reminding you that our main waited target is located at 1.1525.
We should note that breaching 1.1615 and holding above it will lead the price to recover and head towards 1.1670 initially.
The expected trading range for today is between 1.1525 support and 1.1650 resistance.
The expected trend for today: Bearish.
On the other hand, NZDUSD buyers have re-emerged after the minor price retreat but attempt to limit sellers’ ruling power are looking to have been in vain. As of late, the trendless simple moving averages (SMAs) are proposing a more neutral bearing in the pair.
The Ichimoku lines are reflecting the fresh rally and are indicating a pause in positive momentum, while the short-term oscillators are transmitting conflicting messages of directional impetus. The MACD, north of the zero thresholds, is keeping above its red trigger line, while the RSI is looking to fall further in bullish territory. Moreover, the stochastic oscillator is promoting the price pullback in the pair as its negative charge is showing no signs of abating.
On the other hand, GBP/AUD has been falling steadily since reaching a recent high at 1.9155 on August 20, dropping to around 1.8296 at the time of writing. Those losses were extended Wednesday even though Australia reported that its inflation rate fell to 3.0% year/year in the third quarter – below both the forecast 3.1% and the previous 3.8%. However, GBP/AUD is now approaching an important band of support that should at least stem the losses for a while.
As the chart below shows, GBP/AUD traded just above the 1.82 level throughout June and that level will need to be broken convincingly if the downturn is to extend. More likely it will steady there, with a minor rally following.
#forexforum #forextraders #currencytradersforum #forumforex #forextrading