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How we apply the use Pivot Points as a tool in trading FX markets.Latest Live Videos
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EUR/USD: Bears hold the grip, critical challenge at 1.2000
The greenback firmed up at the end of the week, closing it with substantial gains against most major rivals. Renewed coronavirus concerns and poor macroeconomic data spurred risk-off. EUR/USD is firmly bearish.
USD/JPY: Consolidating long-term losses
The USD/JPY pair remained lifeless on Friday, ending a third consecutive day little changed around 103.80. Japan has discovered a new covid strain, different from the UK and South African ones. USD/JPY is technically neutral but keeps developing below a long-term descendant trend line.
GBP/USD: Further restrictions in the UK may hit the pound
The GBP/USD pair trimmed most of its weekly gains on Friday and settled in the 1.3580 price zone, amid risk-off fueling dollar’s demand. UK GDP contracted by less than anticipated in November, Industrial Production plunged.
Gold: Further decline toward $1,800 remains on the cards
Gold failed to stage a convincing rebound this week. After losing more than 2% in the previous week, the XAU/USD pair extended its slide on Monday and touched its lowest level since early December at $1,817.
WTI drops briefly back below $52.00 amid risk off market conditions
The front-month futures contract for the American benchmark for sweet light crude oil, West Texas Intermediary (WTI), has been on the back foot on the final trading day of the week.