BERITA FOREX.EUR/USD Price Analysis: Muted reaction to Biden's stimulus talk, Friday's close pivotal NEWS | 42 minutes ago | By Omkar Godbole Share on Twitter Share on Facebook Share on Linkedin

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  Biden's stimulus announcement fails to move the needle in currency markets. 
• EUR/USD trades in a sideways manner near 1.2155. 
• Thursday's indecisive Doji candle has neutralized immediate bearish bias.

The US President-elect Joe Biden unveiled a much-anticipated coronavirus rescue plan a few minutes before press time, promising $2,000 in stimulus cheques to Americans, social equity, infrastructure spending, and a potential minimum wage of $15 per hour. 

However, Biden did not give away the total size of the stimulus program, which, according to media reports released early Friday, is $1.9 trillion. 

So far, Biden's stimulus talk has failed to inject volatility in the forex markets, leaving EUR/USD sidelined near 1.2155. 

On Thursday, the currency pair traded back and forth and ended on a flat note, forming a Doji candle on the daily chart. A sign of indecision, the Doji has neutralized the short-term bearish bias put forward by the last week's rising wedge breakdown and made Friday's close pivotal. 

Source from https://www.fxstreet.com/news/eur-usd-price-analysis-muted-reaction-to-bidens-stimulus-talk-fridays-close-pivotal-202101150107

BERITA FOREX. WTI Price Analysis: Sidelined in Asia with bearish RSI divergence on 4H NEWS | 16 minutes ago | By Omkar Godbole

A barrel of West Texas Intermediate (WTI) crude, the North American oil benchmark, is currently changing hands near $52.82. Oil is trading largely unchanged on the day, having faced rejection near $54.00 on Wednesday. 

According to the bearish divergence of the 4-hour chart Relative Strength Index (RSI), the pullback from Wednesday's high could be extended to the 4-hour chart 50-candle Simple Moving Average (SMA) support, currently at $52.15. 

A violation there would expose the higher low of $51.50 created on the 4-hour chart on Jan. 11. 

A move above $53.40, the high of the right shoulder of the 15-minute chart head-and-shoulders pattern, would open the doors for a re-test of $53.93 (Jan. 13 high). 

Source from https://www.fxstreet.com/news/wti-price-analysis-sidelined-in-asia-with-bearish-rsi-divergence-on-4h-202101140211

 

BERITA FOREX. Gold Price Analysis: XAU/USD raises a bear flag on the 4-hour chart NEWS | 9 minutes ago | By Omkar Godbole

• Gold gains ground in Asia as the US 10-year yield extends overnight drop. 
• The metal looks to be charting a bear flag downside continuation pattern.

Gold is currently trading near $1,860 per ounce, representing a 0.37% gain on the day. 

The bounce from Monday's one-month low of $1,816 has taken the shape of a bear flag pattern on the 4-hour chart. A bear flag is a pause that often refreshes lower, recharging bears' engines for a more profound decline. 

A move below the lower end of the flag, currently at $1,840, would confirm a breakdown and imply a continuation of the decline from the Jan. 6 high of $1,959. The immediate support is seen at $1,816 ad $1,800. 

A convincing move above the hourly chart resistance of $1,870 would invalidate the bearish setup. 

Source from https://www.fxstreet.com/news/gold-price-analysis-xau-usd-raises-a-bear-flag-on-the-4-hour-chart-202101130147

BERITA FOREX. NZD/USD Price Analysis: Battles 21-day SMA, short-term key support line below 0.7200 NEWS | 6 minutes ago | By Anil Panchal Share on Twitter Share on Facebook Share on Linkedin

 

• NZD/USD strays on the back foot for fourth consecutive day.
• Normal RSI conditions challenge bears near key technical supports.
• Bulls remain cautious unless crossing the 0.7300 threshold.

NZD/USD drops to 0.7160, down 0.10% intraday, during early Tuesday. In doing so, the kiwi pair prints a four-day downtrend as bears battle 21-day SMA and an upward sloping trend line from November 02.

As RSI stabilizes around the 50 level, following its pullback from overbought territory, the bears are likely to wait for a clear downside break below 0.7150/45 support confluence.

Following that, a 50-day SMA level of 0.7014 and a December low near 0.7000 will be on the NZD/USD sellers’ radar.

Meanwhile, an area comprising December 31 top and early last week’s lows surrounding 0.7240 will add filters to the pair’s upside past-0.7200.

Even if the NZD/USD buyers manage to cross 0.7240, they can wait for a sustained upside beyond the recent multi-month high around the 0.7300 threshold before eyeing the April 2018 peak surrounding the 0.7400 round-figure.

Source from https://www.fxstreet.com/news/nzd-usd-price-analysis-battles-21-day-sma-short-term-key-support-line-below-07200-202101120228

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BERITA FOREX. EUR/USD Price Analysis: 38.2% Fibonacci 1.2220 in focus NEWS | 28 minutes ago | By Ross J Burland

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  Traders take profits against the euro as US dollar corrects. 
• There is a case for a restest of 1.2212/45 prior to a bearish continuation.

The greenback has been climbing from a nearly three-year low as a rise in US yields helped fuel the unwinding of bearish bets on the currency.

In the positioning data for the week ending 5 January 2021, leveraged funds turned USD buyers. Traders are continuing to take profits against the euro which has printed a fresh low in Asia at the start of the week. 

However, from a top-down analysis, while the lower time frames technical environments, such as the 4-hour, are bearish, there is the case for a restest of 1.2212/45 prior to a bearish continuation. 

The following series of charts illustrate the case for a correction of the daily impulse and subsequent extension to the downside. 

From the monthly chart, 1.2093 is earmarked for the downside based on a 38.2% Fibonacci retracement confluence with prior structure and old resistance, guarding a deeper retracement into the last resistance of 1.2011. 

A 38.2% Fibonacci of the daily bearish impulse from current lows would equate to a retest of prior lows as a confluence level at 1.2245. 

In a continuation to the downside from there to meet current lows, a bearish topping pattern in a head and shoulders would be compelling and be expected to lead to an extension of the southerly trajectory.  

Source from https://www.fxstreet.com/news/eur-usd-price-analysis-382-fibonacci-12220-in-focus-202101110113

BERITA FOREX. US Dollar Index Price Analysis: Bulls cheer break of 13-day-old resistance to attack 90.00 NEWS | 15 minutes ago | By Anil Panchal Share on Twitter Share on Facebook Share on Linkedin

• US dollar index picks up bids after clearing short-term key resistance line, 200-HMA.
• MACD dwindles on the way to key Fibonacci retracement levels.

US dollar index (DXY) rises to 90.02, currently up 0.13% around 89.95, during early Friday. The greenback gauge crossed a downward sloping trend line from December 22 the previous day while struggling to provide a clear break above 200-HMA.

With the latest clear run-up beyond the key moving average, DXY is up for challenging the 50% Fibonacci retracement of December 21 to January 06 downside, around 90.15.

However, 61.8% Fibonacci retracement and multiple highs marked since December 24 will challenge the US dollar bulls near 90.32/37 afterward.

In a case where the greenback buyers step back, a downside break of 200-HMA and the previous resistance line, respectively around 89.85 and 89.60, will be the key to watch.

Should the DXY bears keep the reins past-89.60, the lowest since April 2018, flashed earlier in the week, close to 89.30, followed by the 89.00 round-figure may gain the market’s attention.

Source from https://www.fxstreet.com/news/us-dollar-index-price-analysis-bulls-cheer-break-of-13-day-old-resistance-to-attack-9000-202101080150

BERITA FOREX. GBP/USD Price Analysis: Up 25 pips but trades in a familiar range NEWS | 7 minutes ago | By Omkar Godbole

 

• GBP/USD trades higher on Thursday but is still stuck in the three-day range of 1.3538-1.37. 
• A range breakdown would open the doors for a test of SMA support. 

GBP/USD is currently trading near 1.3625, having found bids near 1.3620 early today. 

While the pair has gained roughly 25 pips, it is still trapped in the range of 1.3538-1.37 established over the past three days. The 14-day Relative Strength Index (RSI) is also indicating indecision or range play with a triangle pattern. 

A close above 1.37 would signal a continuation of the rally from the September low of 1.2675 and create room for a rally to at least 1.3862 (range breakout target). 

Alternatively, a downside break would open the doors for the 50-day Simple Moving Average (SMA) support, currently at 1.3329.

Source from https://www.fxstreet.com/news/gbp-usd-price-analysis-up-25-pips-but-trades-in-a-fam
iliar-range-202101070203

BERITA FOREX. AUD/USD: Next target is now at 0.7760 – UOB NEWS | 8 minutes ago | By Pablo Piovano

 In opinion of FX Strategists at UOB Group, AUD/USD faces strong resistance at the 0.7760 region.

Key Quotes

24-hour view: “AUD surged to a high of 0.7743 last Thursday (31 Dec) before retreating quickly to end the day a tad higher at 0.7693 (+0.09%). The rapid pull-back amid overbought conditions suggests that further AUD strength is unlikely. AUD is more likely to consolidate and trade within a 0.7665/0.7730 range.”

Next 1-3 weeks: “While AUD rose to a fresh high of 0.7743 last Thursday, it retreated quickly to end the day slightly higher at 0.7693 (+0.09%). Further AUD strength is not ruled out but upward momentum is not strong and the pace of any advance is likely to be slow. Overall, there is room for AUD to advance but the next major resistance at 0.7760 is unlikely to come into the picture so soon. On the downside, a break of 0.7630 would indicate the current upward pressure has eased.”

Source from https://www.fxstreet.com/news/aud-usd-next-target-is-now-at-07760-uob-202101040611

BERITA FOREX. EUR/USD Price Analysis: On the bids around multi-month top around 1.2300 NEWS | 5 minutes ago | By Anil Panchal

 

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  EUR/USD rises for the fourth consecutive day while probing the highest levels since April 2018.
• Sustained trading beyond 10-day SMA, eight-week-old support line favor buyers.

EUR/USD pokes the 32-month high, flashed the previous day, while taking rounds to 1.2305, up 0.12% intraday, during early Thursday. The pair jumped to the multi-month high on Wednesday after clearing December 17 top.

Also favoring the EUR/USD buyers is the quote’s successful trading above 10-day SMA and an upward sloping trend line from November 04 as MACD flirts with the bulls.

That said, the present upside momentum eyes on the ascending trend line from December 03, at 1.2370 now, ahead of challenging the 1.2400 round-figure. However, the April 2018 peak near 1.2415/20 can offer breathing space to the EUR/USD bulls afterward.

On the contrary, a downside break of the early-month high near 1.2270 can re-test the 10-day EMA level of 1.2230. Though, trendlines stretched from early November and December 09, respectively around 1.2215 and 1.2200, will probe the quote’s further weakness.

In a case where the EUR/USD bears retake control below 1.2200, the 1.2000 and the early November high near 1.1920 will gain the market’s attention.

Source from https://www.fxstreet.com/news/eur-usd-price-analysis-on-the-bids-around-multi-month-top-around-12300-202012310210

BERITA FOREX. GBP/USD Price Analysis: Extends bounce off 21-day SMA to battle immediate resistance line NEWS | 24 minutes ago | By Anil Panchal

 

• GBP/USD keeps the previous day’s recovery moves to refresh intraday high.
• A descending trend line from last Thursday guards nearby upside.
• An eight-week-old rising support line becomes the key.

GBP/USD picks the bids near 1.3535, up 0.27% intraday, during Wednesday’s Asian session. In doing so, the cable stretches the U-turn from 21-day SMA as buyers attack a falling trend line from December 24.

Considering upbeat RSI conditions, as well as successful trading above 21-day SMA and an upward sloping trend line from November 02, GBP/USD bulls are set to challenge the monthly peak surrounding 1.3620.

However, the stated resistance line near 1.3535 and the 1.3600 round-figure can offer intermediate halts during the rise.

Should sterling buyers keep the reins past-1.3620, March 2018 low around 1.3710 will be the key.

On the flip side, the 1.3500 threshold can offer immediate support ahead of the 21-day SMA, currently around 1.3430.

Though, GBP/USD bears are less likely to intervene unless witnessing a daily close below the multi-day-old support line, at 1.3255 now.

Source from https://www.fxstreet.com/news/gbp-usd-price-analysis-extends-bounce-off-21-day-sma-to-battle-immediate-resistance-line-202012300153

BERITA FOREX. AUD/USD Price Analysis: Wavers around intraday high near 0.7600 amid risk-on mood NEWS | 28 minutes ago | By Anil Panchal

AUD/USD battles 0.7600, keeps recovery move from 0.7557 to print mild gains.

Strong RSI conditions, not overbought, keeps buyers hopeful around 10-day SMA.

Short-term horizontal resistance guards immediate upside, eight-week-old trend line offers nearby key support.

AUD/USD seesaws near 0.7590/95, after recently refreshing the intraday high to 0.7598, during early Tuesday. In doing so, the aussie pair rises 0.18% while taking rounds to 10-day SMA.

Considering the upbeat RSI conditions, coupled with the quote’s sustained trading beyond an upward sloping trend line from November 02, AUD/USD buyers remain hopeful.

Overall, bulls are likely to keep the reins, also backed by the risk-on mood amid the passage of the US coronavirus (COVID-19) aid package. However, holiday-thinned trading can keep the AUD/USD prices in check.

Read: USD/JPY trims early-Asian losses to eyes 104.00 as US stimulus headlines favor risks

That said, a clear break of 0.7640/41 horizontal resistance becomes necessary for the bulls before challenging June 2018 top near 0.7675.

On the contrary, a downside break of the stated support line, at 0.7541 now, needs to break 21-day SMA and a three-week-long rising trend line, respectively around 0.7520 and 0.7510, before recalling the AUD/USD sellers.

It should also be noted that the 0.7500 round-figure adds to the downside filters before challenging the monthly low of 0.7338.

Source from https://www.fxstreet.com/news/aud-usd-price-analysis-wavers-around-intraday-high-near-07600-amid-risk-on-mood-202012290154