Trend analysis (Fig. 1). The EUR/USD currency pair may move downward from the level of 1.0716 (closing of yesterday’s daily candle) to test 1.0692, the 23.6% pullback level (yellow dotted line). Upon testing this level, an upward movement is possible with a target at 1.0756, the upper fractal (daily candle from 06/11/2023). In the case […]
As business activity data in the eurozone matched the preliminary estimates, a small local rebound took place. It may continue to develop today if the report on producer prices indicates growth from -11.5% to -12.6%, which represents easing inflation. Such a scenario will increase the possibility of a decrease in interest rates by the European […]
The Final eurozone PMIs, along with the Composite PMI, matched the flash estimates, so they didn’t bring anything new to the table. This made it easy for the pair to start a minor rebound, and it appears that we will see a continuation of it today. The reason behind this could be the eurozone Producer […]
On the daily chart of Gold commodity asset, there is a Bearish 123 pattern which follow by the appearance of the deviation between price movement with Stochastic Oscillator indicators, so that based on these facts, in a few times ahead, Gold has the potential to weaken up to the level 1953.17. If this level successfully […]
Analysis of GBP/USD 5M On Monday, GBP/USD traded more actively and even showed trends compared to the EUR/USD pair. The main movement occurred during the U.S. trading session, but the price also had its share of action during the European session. As a result, by the end of the day, the pair had already started […]
Litecoin will ideally stay above support at 70.44 for the next push higher towards 87.10 and 104.04 as the next sub-targets on the way higher towards 131.05. So stay focused towards the upside and don’t let temporary setbacks cloud the main direction, which is towards the upside and a rally towards 87.10 as the next […]
EUR/USD should stay above the support at 1.0644 for the next push higher towards 1.1275 and 1.1550 as the next sub-target on the way towards the long-term target at 1.2085. The area between 1.0644 and 1.0685 is loaded with support and we could as well see that 1.0685 acts as the floor for the next […]
If we look at the 4-hour chart of the USD/CHF main currency pairs since the appearance of the first deviation between price movements and the RSI (Pink) indicator coupled with the appearance of the Bearish 123 pattern followed by two Bearish Ross Hooks (RH), it gives a fairly clear indication that Sellers are dominating that […]
Analysis of macroeconomic reports: There are hardly any macroeconomic events on Tuesday, and none of them hold any importance. German industrial production and eurozone producer prices will be in focus. Meanwhile, the U.S. will release import and export data. These are all relatively minor reports, capable of moving the market by 10-20 pips at most. […]
Technical outlook: EUR/USD rallied through the 1.0755-60 zone on Monday as expected before pulling back lower. The currency pair might find support around the 1.0700-10 zone or the 1.0670-80 range intraday and resume higher thereafter. Ideally, bulls should be looking to print at least one more high above the 1.0760 mark before producing a meaningful […]
Early in the European session, Gold (XAU/USD) is trading around 1,972.76, below the psychological level of 2,000 located at 8/8 Murray and above the 21 SMA located at 1,936. We can see an exhaustion of bullish strength and a technical correction after four consecutive weeks of bullishness. According to the weekly chart, it is observed […]
EUR/USD Higher Timeframes Yesterday marked a slowdown in a small range within the influence zone of the weekly resistances 1.0733 – 1.0766. The positioning of key reference points remains unchanged. As a result, the conclusions and expectations voiced earlier also remain relevant. In the course of the movement, the boundaries of the daily cloud will […]
The EUR/USD chart shows bearish momentum, potentially heading towards the 1st support at 1.0678, a pullback support. The 2nd support at 1.0606, coinciding with the 61.80% Fibonacci Retracement, adds to the support zone. On the resistance side, the 1st resistance at 1.0759, a multi-swing high resistance, could lead to selling pressure. The 2nd resistance at […]
Analyzing Monday’s trades: GBP/USD on 30M chart GBP/USD also tried to continue its upward movement on Monday. However, it didn’t have any good reasons to support the upward movement. In the second half of the day, the price gradually went back to the opening levels. So, the short-term uptrend persists, but it mainly consists of […]
Analyzing Monday’s trades: EUR/USD on 30M chart On Monday, EUR/USD tried to continue its upward movement, which started on Friday, but the bullish enthusiasm quickly waned. This is not surprising since there was a specific macroeconomic background for the euro’s rise and the dollar’s fall on Friday, but there was basically nothing important on Monday. […]
The most interesting price movement happened on Friday. On the same day, the market received a very important and intriguing set of reports, which allows us to draw certain conclusions. For instance, the U.S. labor market shows signs of losing momentum, unemployment is rising, and business activity is not as strong as one would hope. […]
The latest CFTC report remained almost unchanged in terms of speculative positioning on major world currencies compared to the previous week. We can only highlight the noticeable increase for the Australian dollar (+520 million), while changes in speculative positions for other currencies such as CAD, EUR, CHF, and NZD were purely symbolic. As a result, […]
The AUD/USD pair reached a two-month price high, testing the 0.6520 mark. The last time AUD approached the 0.65 level was in September, but back then, AUD/USD bulls couldn’t consolidate in that price range. It’s worth noting that the increase is not solely due to the US dollar’s broad weakness. Hawkish expectations regarding the Reserve […]
The unexpected rise in Germany’s industrial orders by 0.2% MoM in September provided a new impetus for the “bullish” attacks on EUR/USD. The indicator has been increasing for the second consecutive month, reducing concerns about the future of the German economy. In the third quarter, it contracted by 0.1%, but the situation may improve in […]
During August, the EUR/USD pair has been trading in a narrow range between 1.0950 and 1.1050, waiting for a clear direction from the market sentiment and the economic data. Shortly after, the pair failed to maintain upside movement above the depicted uptrend. Instead, it was broken-down terminating the sideway movement. Shortly after, an upside pullback […]
The EURUSD pair broke above the key level of 1.0550-1.0600 and continued its bullish trend towards 1.1000 and 1.1200. The bulls reached the resistance zone around 1.1200 but failed to sustain the momentum. Meanwhile, the bears pulled back the price towards 1.0950 where the pair met the short-term uptrend line. The price reversed from this […]
The GBP/USD pair faced a strong resistance near 1.3200 and started a fresh downtrend. It broke the 1.2800 then 1.2600 support levels on a H4 candlestick and extended its decline towards 1.2500 where the pair showed some indecision in a tight range before resuming its bearish trend. The next target for the bears was located […]
First outlook : The GBP/USD pair broke resistance which turned to strong support at the level of 1.2107 this week. The level of 1.2107 is expected to act as major support today. From this point, we expect the GBP/USD pair to continue moving in a bullish trend from the support levels of 1.2107 and 1.2140. […]
SPX is trading around 4,367 today, having started the week on a positive note, as it was ended last week. Price is challenging the Daily Kumo (cloud) resistance. The area around 4,370 is very important resistance and a daily close inside the Kumo would turn trend to neutral from bearish. The tenkan-sen (red line indicator) […]
Red lines- bearish channel Blue lines- Fibonacci retracement levels Eurostoxx50 index has started the week on a negative note. In previous posts we warned traders that the bounce in the Eurostoxx50 index has reached very important channel resistance. Price was challenging the upper channel boundary and today we have rejection signs. Price got rejected at […]
Blue lines- Fibonacci retracement levels Gold price is trading around $1,982. Price has started the week on a negative note. Over the last few trading sessions price is showing a slowing down of the bullish momentum and signs of a possible short-term top and reversal. So far no reversal has been confirmed. With the RSI […]
Blue lines- Fibonacci retracement levels Black line- support trend line Red line- resistance trend line (broken) EURUSD is trading around 1.0740. The week has started on a positive note, exactly as it has ended. Price made a new higher high today getting even closer to the first important Fibonacci retracement resistance at 1.0766. This is […]
Red line- major resistance trend line Blue lines- Fibonacci retracement levels Yellow rectangle- resistance (broken) Black line- major support trend line XRPUSD is currently trading above $0.70. Recently XRPUSD provided us with a bullish reversal signal when price broke above the horizontal resistance area around $0.55. Short-term trend is bullish as price is making higher […]
UK GDP in focus this week; pound could significantly benefit RBA meeting and Chinese data could push aussie even higher vs. the US dollar USDJPY could break below its upward trending channel if Japanese data improve 0:00 Intro 0.31 EUR/GBP 3:09 AUD/USD 6:17 USD/JPY For more information on the topics discussed in this video, including […]
AUDUSD claims 0.6400 zone after fast rally Short-term bias positive, but there are more threats higher RBA to raise interest rates, but the aussie may not gain AUDUSD breached the tough 0.6430-0.6450 zone with strong momentum to rise straight up to the August bar of 0.6520 last Friday. The possibility of a rate hike […]
