Technical analysis of GBP/USD for May 1-6, 2023

Trend analysis GBP/USD may start moving down this week, starting from the level of 1.2562 (closing of the last weekly candle) to 1.2466, which is the 14.6% retracement level (red dashed line). Upon reaching this price, the pair will resume an upward movement towards 1.2583, which is the upper fractal (red dashed line). Fig. 1 […]

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Technical analysis of EUR/USD for May 1-6, 2023

Trend analysis EUR/USD may start moving down this week, starting from the level of 1.1018 (closing of the last weekly candle) to 1.0873, which is the 38.2% retracement level (blue dashed line). Upon reaching this price, the pair will resume an upward movement towards 1.1095, which is the upper fractal (blue dashed line). Fig. 1 […]

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Indicator analysis: GBP/USD daily review on May 1, 2023

Trend analysis (Fig. 1) GBP/USD may start moving down this Monday, starting from the closing of Friday’s daily candle at 1.2562 to the 23.6% retracement level at 1.2497 (blue dashed line). After this level is tested, the pair will slide further down to the 38.2% retracement level at 1.2467 (blue dashed line). Fig. 1 (daily […]

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Tips for trading gold

Good day, traders! Gold quotes declined last week, and on Friday saw a breakdown of the bullish structure. A lot of buyer liquidity is also left, which is a good area where traders can enter the market. It is likely that gold will hit these prices in the near future. This means that traders should […]

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Indicator analysis of EUR/USD on May 1

Trend analysis (fig. 1). Today, the pair may decrease to 1.0958, the Fibonacci retracement level of 23.6% (yellow dotted line) from the level of 1.1018, the closing of Friday’s daily candlestick. When testing this level, the price could fall to the support level of 1.0930 (blue dotted line). Fig. 1 (daily chart). Complex analysis: – […]

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Forecast for EUR/USD on May 1, 2023

EUR/USD Friday’s daily candlestick with a long lower shadow tells us that the bears on the euro have made their first and successful attempt to push the price away from technical resistances. The price has settled below 1.1033 and, due to the divergence, is striving to reach the support of the MACD line around the […]

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Forecast for GBP/USD on May 1, 2023

GBP/USD On Friday, the British pound rose by 68 points. Trading volume was the highest since March 24th, which is likely related to the bears closing their Stop-Loss orders. If this is the case, the resistance at 1.2598 appears to be the limit. However, if these were direct purchases, the price could surpass 1.2666, and […]

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Forecast for USD/JPY on May 1, 2023

USD/JPY On Friday, the USD/JPY pair surged by 236 points. It surpassed the 135.40 target level, and is now heading towards the next resistance at 138.42. On the weekly chart, the MACD line is also located here, which makes this level quite important; overcoming it will determine the pair’s growth in the medium-term. The uptrend […]

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What to pay attention to on May 1? A breakdown of fundamental events

Analysis of macroeconomic reports:: On Monday, the United Kingdom, European Union, and the United States will release a total of two reports. Both are US manufacturing indexes for April. According to S&P, business activity will rise to 50.4 points and leave the “red zone” below the 50 level. According to ISM, business activity will rise […]

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How to trade GBP/USD on May 1. Simple trading tips and analysis for beginners

Analyzing Friday’s trades: GBP/USD on 30M chart On Friday, the GBP/USD pair showed a somewhat different movement than the EUR/USD pair. In the first half of the day, there was also a sluggish downward movement, followed by growth in the second half. However, the pound’s growth was much stronger than the euro’s. Perhaps it’s a […]

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What is the euro’s weakness?

Sell when everyone is buying. Recently, enough praise has been heard for the euro to start getting rid of it. On Forex, they talk about the divergence in the monetary policy of the ECB and the Fed. About the fact that the US is approaching a recession, and the eurozone will be able to avoid […]

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Weekly review of EUR/USD for April 24-28, 2023

Weekly Review : The volatility is very high for that the EUR/USD pair is still moving between 1.0925 and 1.1022 in coming hours. Consequently, the market is likely to show signs of a bearish trend again. The EUR/USD traded lower and closed the day in the red area near the price of 1.0954. Today it, […]

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Weekly review of GBP/USD for April 24-28, 2023

Weekly Review : The GBP/USD pair steep decline spells for a capitulation event underway from the levels 1.2470 and 1.2448. More price decline is likely to occur, but traders should consider the bearish thesis event until 1.2502 is broken. The GBP/USD pair dropped sharply from the level of 1.2470 towards 1.2425. Now, the price is […]

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Analysis of the trading week of April 24-28 for the GBP/USD pair (COT Report)

Long-term perspective. The currency pair GBP/USD showed another round of illogical growth during the current week. No macroeconomic reports were published in the UK throughout the week, and no speeches by the Bank of England representatives. It is reasonable to assume that the news from the US was disappointing. And at first glance, this is […]

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Technical analysis of GBP/USD for April 29, 2023

Overview: The GBP/USD pair has faced strong support at the level of 1.2502 because resistance became support. So, the strong resistance has been already faced at the level of 1.2582 and the pair is likely to try to approach it in order to test it again. The level of 1.2502 represents a weekly pivot point […]

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Technical analysis of EUR/USD for April 29, 2023

Overview : The weekly pivot sets at the point of 1.1003 and the trend is still moving above it. The EUR/USD pair dropped from the level of 1.1076 to the bottom around 1.0910. But the pair has rebounded from the bottom of 1.0910 to close at 1.0950. Today, the first support level is seen at […]

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April 28, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

The market displayed a positive trend between 1.0400 and 1.0600, which prevented further losses. Bulls kept supporting the increasing lows at 1.1150 and 1.1750, indicating a probable continuation of the positive trend above 1.1750. At 1.2340, bears initially resisted the price, but bulls recovered. However, the GBPUSD bulls could not create a new high and […]

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April 28, 2023 : EUR/USD Intraday technical analysis and trading plan.

The EUR/USD pair has recently returned to levels around 0.9600, which were last reached in 2002, leading to a significant bullish recovery, especially around this critical support level. Although the nearest resistance level at 1.0100 did not apply enough bearish pressure, there was strong bullish price action around the lower edge of the depicted movement […]

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April 28, 2023 : Analyzing Recent Trends and Trading Opportunities in EUR/USD: A Technical Analysis Perspective.

After ascending towards the 1.1500 price zone, the EUR/USD pair encountered significant selling pressure, resulting in declines to levels of 1.0850, 1.0400, 1.0000, and most recently, 0.9600. The market experienced buying pressure until it reached a plateau around 1.0800-1.0850, followed by notable selling pressure that led to a recent decline in prices. The price level […]

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Ripple attracting more buyers

Ripple continues to move sideways in the short term. Still, the downside movement seems, so the buyers could take full control soon. It’s trading at 0.4669 below today’s high of 0.4830. In the short term, XRP/USD retreated as Bitcoin dropped as well. In the last 24 hours, XRP/USD is up by 1.96% and by 0.49% […]

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Bitcoin retesting buyers

Bitcoin retreated in the short term but the bias remains bullish. It’s trading at 29,069 at the time of writing far below yesterday’s high of 29,887. After its amazing growth, a temporary drop was natural. Bitcoin is down by 1.14% in the last 24 hours but it’s still in the green +3,54% in the last […]

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Ethereum gathering bullish energy

Ethereum is trading in the red at 1,881 at the time of writing and it seems very heavy as the price of Bitcoin turned to the downside as well. Still, the sell-off could be only temporary before developing a new leg higher. ETH/USD dropped by 3.22% from yesterday’s high of 1,938 to 1,876 today’s low. […]

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AUD/USD challenging downtrend line

AUD/USD Reversal? The AUD/USD pair increased in the short term and now is trading at 0.6611 at the time of writing. The rate failed to resume its drop and now is alsmot to hit the downtrend line which represents an upside obstacle. Jumping and stabilizing above it may announce that the downtrend ended and that […]

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NZD/USD: falling wedge

The NZD/USD pair rallied in the last hours and now is trading at 0.6161 at the time of writing. Surprisingly or not, the currency pair edged higher even if the US reported positive economic data. It seems that the USD was overbought in the short term, that’s why the greenback lost significant ground versus its […]

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EUR/USD struggling to stay higher

The EUR/USD pair rebounded in the short term after reaching 1.0962 today’s low. It’s trading at 1.0996 at the time of writing. In the short term, the volatility is high as the US released high-impact data. Fundamentally, Chicago PMI, Personal Income, Personal Spending, and Employment Cost Index came in better than expected, while Core PCE […]

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Gold In A Demand Zone!

Early in the American session, the EUR/USD pair is trading around 1.1066 below the 21 SMA and below 2/8 Murray (1.0986). We can see on the 4-hour chart that the Euro has broken out of the uptrend channel formed since April 7 and is likely to continue falling and may reach 1/8 Murray located at […]

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Technical analysis on Bitcoin for April 28th, 2023.

Blue lines- bearish RSI divergence Blue line – horizontal support Bitcoin is trading around $29,300. Price is bouncing higher after making a low around $27,000. Technically trend remains bullish but there are some warning signs of a possible trend reversal. The RSI has provided bearish divergence warnings. The bearish divergence is only a warning, not […]

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Will the Fed hike rates for the last time? – Forex News Preview

On Wednesday, the FOMC is widely anticipated to deliver its last rate hike for this tightening cycle. However, with inflation staying well above the Committee’s target and underlying price pressures proving stickier than expected, will policymakers feel comfortable to signal that they are done? Or will they keep the door to more hikes open? And […]

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