Daily Market Analysis By FXOpen

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  1. #591
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    Daily Market Analysis By FXOpen
    AUD/USD and NZD/USD Face Key Hurdles, Downtrend Intact


    AUD/USD is facing a strong resistance near the 0.6660 zone. NZD/USD is also struggling to clear the 0.5900 resistance zone.

    Important Takeaways for AUD/USD and NZD/USD

    • The Aussie Dollar started a fresh decline from well above the 0.6700 zone against the US Dollar.
    • There is a key bearish trend line forming with resistance near 0.6650 on the hourly chart of AUD/USD.
    • NZD/USD started an upside correction from the 0.5800 support zone.
    • There is a connecting bearish trend line forming with resistance near 0.5850 on the hourly chart of NZD/USD.


    AUD/USD Technical Analysis

    The Aussie Dollar failed to stay above the 0.6700 level and started a fresh decline against the US Dollar. The AUD/USD pair traded below the 0.6650 support zone to move into a bearish zone.

    There was a clear move below the 0.6620 level and the 50 hourly simple moving average. The pair traded as low as 0.6575 on FXOpen and recently started an upside correction. There was a move above the 0.6620 level.

    AUD/USD Hourly Chart


    The bulls pushed the pair above the 38.2% Fib retracement level of the downward move from the 0.6747 swing high to 0.6575 swing low.

    However, the bears remained active near the 0.6660 zone and the 50 hourly simple moving average. The pair failed to clear the 50% Fib retracement level of the downward move from the 0.6747 swing high to 0.6575 swing low.

    There is also a key bearish trend line forming with resistance near 0.6650 on the hourly chart of AUD/USD. On the upside, the AUD/USD pair is facing resistance near the 0.6650 level.

    The next major resistance is near the 0.6660 level. A close above the 0.6660 level could start a steady increase in the near term. The next major resistance could be 0.6720.

    On the downside, an initial support is near the 0.6600 level. The next support could be the 0.6560 level. If there is a downside break below the 0.6560 support, the pair could extend its decline towards the 0.6500 level.

    VIEW FULL ANALYSIS VISIT - FXOpen Blog...

    Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

  2. #592
    Senior Member FXOpen Trader's Avatar
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    Watch FXOpen's September 19 - 23 Weekly Digest Video

    In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.

    • The British pound hits 37-year low against US dollar
    • How mobilization in Russia will affect financial markets
    • US stock market complacency on the bankers' radar
    • After a long period of hardship, the Japanese yen is back on track


    Watch our short and informative video, and stay updated with FXOpen.



    VIEW FULL NEWS VISIT - FXOpen Company News...

    Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

  3. #593
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    in ro ham eslah kon:
    GBP/USD Nosedives and GBP/JPY Gain Bearish Momentum


    GBP/USD started a major decline and traded below 1.1000. GBP/JPY is also diving and there was a clear move below the 155.00 support.

    Important Takeaways for GBP/USD and GBP/JPY

    • The British Pound started a major decline below the 1.1000 support against the US Dollar.
    • There is a connecting bearish trend line forming with resistance near 1.1220 on the hourly chart of GBP/USD.
    • GBP/JPY declined steadily after it failed to clear the 165.00 resistance zone.
    • There is a major bearish trend line forming with resistance near 152.50 on the hourly chart.


    GBP/USD Technical Analysis

    This past week, the British Pound started a major decline from the 1.1400 zone against the US Dollar. The GBP/USD pair declined below the 1.1200 support to move into a bearish zone.

    There was a steady decline below the 1.1100 level and the 50 hourly simple moving average. The pair even traded below the 1.0850 support zone. The pair traded as low as 1.0341 on FXOpen and is currently consolidating losses.

    GBP/USD Hourly Chart


    An immediate resistance on the upside is near the 1.0580 level. It is near the 23.6% Fib retracement level of the recent decline from the 1.1364 swing high to 1.0341 level.

    The next major resistance is near the 1.0850 level. It coincides with the 50% Fib retracement level of the recent decline from the 1.1364 swing high to 1.0341 level, above which the pair could start a steady increase.

    There is also a connecting bearish trend line forming with resistance near 1.1220 on the hourly chart of GBP/USD. An upside break above 1.1220 might start a fresh increase towards 1.1350. Any more gains might call for a move towards 1.1450 or even 1.1500.

    An immediate support is near the 1.0450. The next major support is near the 1.0350 level. If there is a break below the 1.0350 support, the pair could test the 1.0200 support. Any more losses might send GBP/USD towards 1.0000.

    VIEW FULL ANALYSIS VISIT - FXOpen Blog...

    Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

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