AUD/USD stalls sell-off, six-month-old resistance line to cap any bounce

AUD/USD stalls its bearish momentum over the last hour, having reached a new 11-year low at 0.6630 after an uptick in the Australian Unemployment Rate revived RBA rate cut expectations. The PBOC rate cut also hurt the sentiment around the Aussie. 



USD/JPY: Dip demand powers recovery to 111.50, relief could be short-lived

USD/JPY's recovery from session lows could be short-lived, as the US equity index futures are now flashing red. The pair's retreat from the nine-month high of 111.59 reached during the US trading hours ran out of steam near 111.11 three hours ago. 


PBOC Not nearly enough

Although the LPR came in on expectation, the market was hoping for 4 % on the one-year LPR while pining for a nudge lower five years. The PBoC needs to exceed the market expectations, not hit them in this environment.

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Yellow metal hits record high in Euro terms

A combination of gold price rally in the US dollar terms and a sell-off in EUR/USD has pushed the yellow metal to record highs in the single currency terms. XAU/EUR or gold in EUR terms is currently trading at 1,490 per Oz, having hit a lifetime high of 1,494 during the overnight trade.

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Having dropped BTC/USD below $10,000, will the bears now aim for $9,500?

BTC/USD has fallen from $10,197.35 to $9,617 so far this Wednesday, going below the key $10,000 psychological level. The bears will now aim to take the price below the $9,500, but to do that, they will need to conquer ...

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Ripple Price Analysis: XRP/USD takes breather ahead of massive surge to $0.35

Ripple continues to print a bearish picture this week following the rejection at last week’s high at $0.3463. The downtrend was unstoppable at $0.30 and the bulls forced to endure losses towards ...

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ETH/USD bears flip on the bulls, downside unstoppable towards $240

Ethereum bulls once again failed to rise above the selling pressure at $84. Instead, the price dived beneath the key support levels at $270 and $260, respectively. Besides, there is still is potential for lower correction likely to test $240.

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LTC/USD falls below SMA 20 following Wednesday’s bloodbath

LTC/USD fell from $77.40 to $70.72 this Wednesday as the bears took full control of the market. The buyers were able to bring back the price up to $71.15 in the early hours of Thursday. Following this Wednesday’s bloodbath, the price dropped below the SMA 20 curve and ...

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EUR/USD: Daily Recommendations on Major

Dollar gains as coronavirus fears ease and upbeat U.S. data, sterling falls on concern over EU-UK trade talks

Trouble in Tokyo

Aussie slumps as unemployment rises


Markets' lean season has lasted two full years and while those are not yet over, flush times are looking more and more likely for this 2020. EUR/USD news: The beginning of the end of the trade war? Ever since hitting 1.2537 in January 2018, the EUR/USD pair has been on a selling spiral that set a multi-year low of 1.0878 just two months ago. The level can hardly be considered an interim bottom when just considering the following price’s recovery, but the focus this time shouldn’t be put on technical readings, but in politics.

Yohay Elam

Coronavirus fears continue underpinning gold prices. While China has announced measures to help the economy, fears of growing economic damage, XAU/USD is holding onto gains above $1,600. What are the next levels to watch?

The Technical Confluences Indicator is showing that significant resistance awaits at $1,612, which is the convergence of the multi-year high, the Pivot Point one-day Resistance 1, the PP one-week R3, and the Bollinger Band 1h-Upper.

Further above, the upside target is $1,620, which is where the Pivot Point one-day Resistance 2 hits the price.

Looking down, substantial support is at $1,599, which is the confluence of the Fibonacci 23.6% one-day, the previous 4h-low, the Simple Moving Average 5-4h, the PP one-week R2, and more.

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