archiveTechnical Analysis

US Dollar (USD) fell broadly against most currencies. DXY was last at 99.59, OCBC's FX analysts Frances Cheung and Christopher Wong note. Downside risks are seen"Safe haven including CHF, JPY and gold strengthened more at first in reaction to a CNN report that new intelligence suggests Israel is preparing possible strike on Iranian facilities. But as the session continued, other FX in the region (including THB, MYR, KRW) played catch-up on gains." "We reiterate that Moody’s downgrade comes as a timely reminder that a rise in budget deficit in the...

EUR/USD trades little changed on the day near 1.1250.The pair needs to stabilize above 1.1270 to gather bullish momentum.Market participants will pay close attention to comments from central bankers.EUR/USD fluctuates in a narrow channel at around 1.1250 in the European session on Tuesday after closing in positive territory on Monday. The near-term technical outlook points to a loss of bullish momentum as the key resistance level at 1.1270 stays intact. Euro PRICE This week The table below shows the percentage change of Euro (EUR) against listed major currencies this week....

EUR/USD struggles to stabilize above 1.1300 after closing in the red on Wednesday.Technical sellers could take action in case the pair breaks below 1.1270.Markets see a diminishing chance of a Fed rate cut in June.EUR/USD came under bearish pressure in the American session on Wednesday and closed the day deep in negative territory. The pair stays on the back foot early Thursday and trades slightly below 1.1300. Euro PRICE This week The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the...

XRP is knocking on the 50- and 100-day EMAs confluence resistance at $2.21 amid gains in the broader crypto market.The derivatives market Open Interest regains momentum as the long-to-short ratio leans bullish.Risk-on sentiment remains high as large volume holders increase exposure in XRP.Ripple (XRP) price is gaining bullish momentum, increasing over 3% to trade at $2.19 at the time of writing on Thursday. The broader uptrend led by Bitcoin (BTC) as it closes the gap to $100,000 comes after the Federal Reserve (Fed) left interest rates unchanged at 4.24%-4.5%, citing...

GBP/USD trades in negative territory below 1.3350 on Wednesday.The technical outlook is yet to point to a buildup of directional momentum.The Fed will announce monetary policy decisions later in the day.After posting gains to start the week, GBP/USD edges lower and trades in negative territory below 1.3350 in the European session on Wednesday as investors gear up for the Federal Reserve's (Fed) monetary policy announcements. British Pound PRICE Today The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest...

Litecoin (LTC) price hovers at $86 during the Asian session on Monday, up slightly on the day even as the wider crypto market consolidates, following April’s recovery. Meanwhile, Bloomberg analyst James Seyffart believes that the spot Litecoin Exchange Traded Fund (ETF) proposal by Canary Capital has a higher probability of approval than other assets. Ethereum price faced resistance around the daily level of $1,861 on Friday and declined 1.87% over the next two days. At the time of writing on Monday, it continues to trade down at around $1,795. If ETH continues...

Cryptocurrency prices are poised to extend gains following a bullish end to April. The recovery witnessed in the broader market reflects growing interest among retail investors, with select top 200 altcoins, such as ImmutableX (IMX), Morpho, and Turbo, flying the bullish flag high, with the highest gains over the past 24 hours.  Ethereum price has been consolidating between $1,700 and $1,861 since last week. At the time of writing on Friday, it is nearing its upper consolidating boundary at $1,861. If ETH breaks and closes above the daily resistance at $1,861,...

Ripple’s (XRP) price is consolidating at $2.21 at the time of writing on Thursday, reflecting sideways trading in the wider cryptocurrency market. There is a growing need for XRP to hold above the immediate $2.20 confluence support to validate the potential breakout targeting $3.00. Meanwhile, Ripple’s $5 billion bid to acquire Circle, the company that issues USDC stablecoin, has caught the industry’s attention. Solana (SOL) price is stabilizing at around $149 at the time of writing on Thursday, after finding support around its 50-day Exponential Moving Average (EMA) the previous day....

Bitcoin price broke above its 200-day Exponential Moving Average (EMA) at $85,000 early last week, rallying 11.14% until Friday. However, BTC failed to close above its March high of $95,000 and hovered around this level in the last four days. At the time of writing on Wednesday, it continues to stabilize around the $95,000 level. TRON’s price bullish outlook may be at risk, teetering on the brink, as the immediate support from the 50-day EMA near $0.24 shows signs of faltering. Its upside is capped under $0.25, the red-shaded area...

EUR/USD retreats to the 1.1400 region after closing in positive territory on Monday.Markets await key macroeconomic data releases from the US.The technical outlook doesn't point to a buildup of bullish momentum.Following a quiet start to the week, EUR/USD gained traction and closed in positive territory above 1.1420 on Monday. The pair corrects lower in the European session on Tuesday and trades at around 1.1400. Euro PRICE This week The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the...