The momentum of silver’s uptrend slowed near the 61.8% Fibonacci resistance. However, the XAGUSD pair is still ranging inside the bullish flag and above the Ichimoku cloud. Read more.
The GBPUSD buyers have successfully closed the price above the 1.2790 resistance in today’s trading session. Interestingly, the breach of 1.2790 coincided with the Stochastic oscillator signaling an overbought condition. Read full article here.
FxNews – The Bitcoin price fell to $39,500 in Tuesday’s trading session after bears broke below the bullish channel depicted on the daily Chart. Read full article below:
FxNews – The right tool in forex trading can make a massive difference between a bad and a good trade. Besides the price action techniques such as candlestick patterns and drawing trendlines, technical indicators can serve well if used correctly.
USDCHF Technical Analysis and the 61.8% Fibo Barrier
FxNews—The U.S. Dollar has been in an uptrend against the Swiss Franc since the May 16 low at 0.898. The bullish momentum accelerated after the bulls broke out from the descending trendline and crossed above EMA 50 on May 17, the 0.907 mark.
In the previous Cardano technical analysis, we mentioned that the cryptocurrency pair is in a bear market, and the downtrend will likely resume after the consolidation phase ends. A week later, the ADA/USD trades sideways at about $0.46, meaning the market suffers from a lack of momentum, and the uncertainty in the trend direction prevails.
FxNews—The U.S. Dollar trades in a downtrend against the Norwegian Krone. The USD/NOK currency pair is pulling back from the 78.6% Fibonacci support level at $10.48, currently trading at about $10.52.
The Ethereum price has been in a short-term downtrend from $3,980 against the U.S. As of writing, the ETH/USD currency pair bounced from the 23.6% Fibonacci level at $3,705, testing the broken SMA 50 as immediate resistance. The 4-Hour Chart below shows the digital currency trading in a bearish flag since May 27. The momentum eased after the price dipped to as low as $3,705.
FxNews—The Australian dollar trades sideways against the U.S. Dollar between the $0.659 key support and the $0.667 key resistance. The AUD/USD 4-hour chart below shows that the bullish wave began from the key resistance level eased upon touching the descending trendline at about $0.667.
FxNews—The New Zealand dollar trades in an uptrend against the U.S. Dollar. The NZD/USD daily chart below shows the currency pair is trading bullish at about 0.613, above SMA 50, SMA 100, and the Ichimoku Cloud indicators. This development in the technical indicators promises the uptrend should continue.
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