Blue lines- Fibonacci retracement levels EURUSD is trading around 1.0676. Yesterday’s daily candle was a shooting star pattern and today price is making a pull back. Bulls were unable to push price above the 38% Fibonacci retracement resistance level. Price got rejected at the Fibonacci retracement and is now under pressure. Resistance remains key at […]
Walt Disney will unveil its fiscal Q4 earnings on Wednesday after the closing bell Cost cutting and price hikes likely boosted earnings per share But slowing revenue growth and downbeat guidance may weigh on the stock Trouble at the top The Walt Disney Company (Disney) has been undergoing a significant overhaul this year as returning […]
Let’s take a look at the technical picture of AUD/USD, USD/JPY and Oil. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly Forex Outlook: 05/04/2024 – ECB decision and US… April 5, 2024 Central bank decisions in Eurozone, Canada, and New Zealand. Highlight…Weekly Forex Outlook: 05/04/2024 – ECB decision and US… April […]
Bitcoin started the new trading week with a consolidation movement near the $35k level, which now acts as a crucial psychological resistance level. Low volatility and reduced trading activity have prevented BTC from making a decisive break above the $35k level and resuming its upward momentum. A similar situation can be observed among sellers, who […]
Surprise indices are an easy way of mapping the current state of an economy Our index confirms that the US economy has been losing steam the past few weeks Could EURUSD moves be explained by our surprise indices? Theory states that the price of financial assets should reflect the underlying economic conditions in the respective […]
XM completed yet another successful seminar in Dubai on 30th September, titled Technical vs. Fundamental Analysis – Finding the Best Strategy for Trading . It was an opportunity for participants to dive deep into technical and fundamental analysis and learn from Senior Market Strategist at Tradepedia and which approach aligns better with your trading goals […]
Inflation in the Eurozone fell to 2.9% in October (year-on-year), compared to the forecast of 3.1% and September’s 4.3%. Likewise, the core inflation in October in the Eurozone also declined to 4.2% from 4.5% in September. According to recently published data, the Eurozone’s GDP contracted by -0.1% in the third quarter (compared to an expected […]
During today’s Asian trading session, the Australian dollar significantly weakened, and the AUD/USD pair fell after the RBA’s decision on the interest rate and weak macroeconomic data from China were published. Following the November meeting, the RBA board members decided to raise the key interest rate by 0.25% to 4.35%. However, the content of the […]
The Australian dollar is actively losing ground today in response to the results of the RBA’s November meeting. Despite the central bank ending its months-long pause and raising the interest rate by 25 basis points, the Aussie came under pressure. This was a widely anticipated decision and did not cause any “surprise.” All the attention […]
In my morning forecast, I highlighted the level of 1.22990 and recommended using it as a basis for market entry decisions. Let’s take a look at the 5-minute chart and analyze what happened there. The decline and the formation of a false breakout at this level provided an excellent entry point for buying the pound. […]
In my morning forecast, I emphasized the level of 1.0695 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The drop and the formation of a false breakout at this level provided a good signal to buy the euro. However, after moving up […]
The EUR/USD pair made a reversal in favor of the American currency on Monday, near the corrective level of 38.2% (1.0765), closing below 1.0714. Consequently, the decline in quotes may continue towards the next Fibonacci level at 23.6% (1.0644). Trader activity was weak yesterday and remains so today due to a virtually empty economic event […]
On the hourly chart, the GBP/USD pair reversed in favor of the US dollar on Monday, returning to the corrective level of 23.6% (1.2321). A bounce from this level will favor the European currency and a resumption of growth towards the Fibonacci level of 38.2% (1.2477). If the pair’s rate solidifies below the 1.2321 level, […]
The currency pair EUR/USD traded with very low volatility on Monday but still turned downward and began to decline. For now, this decline is very mild, but it is only the beginning. Remember that the last surge in growth happened solely due to weak macroeconomic statistics from the United States. If it weren’t for that, […]
Analysis of transactions and trading tips on GBP/USD Further decline became limited because the test of 1.2303 coincided with the sharp downward movement of the MACD line from zero. Pound continued to slide down, driven by statements from Fed representatives who believe that interest rates will continue to increase. Today, FOMC members, including Neel Kashkari, […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0693 took place when the MACD line moved sharply downward from zero. This, along with the conditions of a bullish market and significant demand for euro, limited the downward potential of the pair. Eurozone’s data on producer prices for September did not come as […]
Technical analysis: BTC/USD has been trading sideways at the price of $34.900 and I see that market is trading inside of the symmetrical triangle pattern and that there is potential for the breakout mode. In case of the upside breakout of the resistance at $35.500, there is the chance for the rally towards $36.000-$37.000 In […]
Dollar regains some lost ground as US yields bounce back Gold and oil edge lower – geopolitical risks getting priced out? Aussie sinks despite RBA rate increase, Fed speakers ahead Dollar back in the ring Global markets continue to grapple with a variety of risk factors, from geopolitical tensions to a softer economic data pulse, […]
Key pivot points on the test… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar…Behind the scenes of Wall Street’s rise: the impact of… April 8, 2024 At the end […]
Technical analysis: Gold has been trading downside today and I found that there is important pivot zone around $1.961-$1.954. In case of the potential rejection of the support zone, there is the chance for the upside movement towards $2.000 In case of the downside breakout and hold below support zone, there is the chance for […]
Technical analysis: GBP/USD has been trading downside today and I found that there is important pivot zone around $1.2260. In case of the potential rejection of the support zone, there si the chance for the upside continuation al rally towards the 1.2420-1.2450 In case of the downside breakout and hold below support zone, there is […]
Details of the Economic Calendar on November 6 On Monday, the final data on the Eurozone Services Business Activity Index were published, along with the Composite Business Activity Index, which both completely matched the preliminary estimates. Analysis of Trading Charts from November 6 The EUR/USD currency pair reduced the volume of long positions around the […]
EURJPY makes new 15-year high Intervention threat has not dented bullish appetite Bullish momentum indicators but exhaustion signs appear EURJPY is edging higher today, trying to record its fourth consecutive green candle. It has made a new 15-year high after finally managing to surpass the 159.64 level that has greatly been troubling the bulls over […]
Crypto Industry News: Charles Hoskinson, an American entrepreneur and founder of Cardano, expressed his appreciation for this blockchain platform. During the recent 2023 Cryptocurrency Summit in Dubai, he emphasized the importance of the network. He talked about its role in the development of the crypto space and its position as the leading blockchain in the […]
Crypto Industry News: Will another region of the world have bitcoin ETFs? It is possible, because Hong Kong’s financial market regulator is considering allowing the issuance of this type of products. Securities and Futures Commission (SFC) CEO Julia Leung has now said that Hong Kong is examining the possibility of launching spot cryptocurrency ETFs. The […]
Technical Market Outlook: The GBP/USD pair had hit the level of 1.2427 and reversed sharply lower after the Pin Bar candlestick pattern was made at the top of the rally. The technical resistance is located at 1.2422 and the intraday technical support is seen at 1.2336 and is being testing currently. The momentum on the […]
Technical Market Outlook: The EUR/USD pair had hit the upper channel line seen at the level of 1.0737 and then reversed sharply lower. The new local high was made at the level of 1.0757, but a Bearish Engulfing candlestick pattern was made at the top of the move. The nearest technical resistance is located at […]
GBPUSD trims gains after rejection from 200-SMA Buying appetite falls; support at 1.2260-1.2300 GBPUSD could not find enough buyers to expand Friday’ bull run above its 200-day simple moving average (SMA), closing with marginal losses within the 1.2300 area on Monday. Given the current negative momentum in the price, the question now is whether […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move downward from the level of 1.2338 (closing of yesterday’s daily candle) to test 1.2290, the 38.2% pullback level (yellow dotted line). From there, an upward movement is possible to test 1.2390, the 50.0% pullback level (red dotted line), where the price may continue to move […]
Yesterday, the pair formed several entry signals. Let’s have a look at what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.0748 as a possible entry point. Although the price rose to this level and made its false breakout, there were few of those eager to sell the euro. […]
