Dollar modesty higher after jobs report but what technical levels are key going forward

What the charts are saying now and going into next week’s trading The US dollar is modestly higher after the better than expected jobs report but off the initial spike levels.  EURUSD: The EURUSD fell to a low of 1.1755 but has bounced back to 1.1768 currently.  The pair trades between the 200 hour MA […]

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EUR/GBP on track towards fresh nine-month lows as technical breakdown continues

Sellers stay poised to target the 0.8700 level next In some ways, the pair is trading as more of a divergence in the virus/vaccine narratives as things are progressing far more smoothly for the UK than it is for Europe. With cable also looking poised to move towards 1.4000, the shove lower in EUR/GBP is […]

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Bitcoin’s 12% drop leaves it in a technical vacuum but there’s reason for optimism

Let’s find out who has the upper hand Wild price moves are no stranger to crypto traders and it looks like the volatility is back. After a one-way move from $ 1200 to just shy of the 2017, crypto has tumbled today. The alts have been particularly hard hit but bitcoin is also down 12% […]

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Technical analyst has higher prices targeted for gold

Commerzbank on gold –  Initial resistance is the 78.6% retracement at 2029 which guards the target band of 2070/2088.  This is a combination of Fibonacci extensions and Elliott wave counts. Above 2088 lies a Point and Figure target of 2162 and another Fibonacci extension to 2179.  Our initial level is a P+F level of 2046 […]

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Euro Demand Remains at 5-year High but Technical Picture Calls for Caution

The European currency posted record-high appeal among speculators for several years, showed the latest CFTC report. Net long speculative position rose to a 5-year high in the week ending Aug 4: Extreme speculative bias calls for caution in assessing prospects of further Euro rise and played itself as a corrective factor: Classic “double top” in […]

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A technical look at the major currency pairs heading into the new trading week

What are the technical’s saying for the major currencies. EURUSD: The EURUSD extended the week’s trading range in the NY afternoon (taking out the low from Tuesday at 1.12402. The break took the price to the 38.2% of the move up from the May 25 low.  That level comes in at 1.12105.   The high for […]

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