EUR/USD Higher Timeframes At the end of yesterday, judging by the mood and the shape of the daily candle, it can be said that the advantage during the day belonged to the bullish players. However, one day did not fundamentally change the situation. The main conclusions and expectations remain the same. For the bulls, it […]
USD/JPY indicates bearish momentum with a potential bearish reaction near the 1st resistance at 149.50, leading to a possible decline to the 1st support at 148.92. The 1st support is reinforced by overlap support, while the 2nd support at 148.42 adds further strength to this support zone. On the resistance side, the 1st resistance at […]
Everything has its limits. There’s a certain boiling point after which everything changes. Bad news can become good news for a currency. I’m not sure if the euro has reached its boiling point, but weak data on German GDP and European economic confidence pushed EUR/USD to rise above 1.06. And yet, the 7% rally in […]
Weekly Review: The EUR/USD pair hit the weekly pivot point and resistance 1, because of the series of relatively equal highs and equal lows. But, the pair has risen down in order to top at the point of 1.0588. Hence, the major support was already set at the level of 1.0545. Today, the EUR/USD pair […]
Weekly review on GBP/USD for October 30-31: The GBP/USD pair will continue rising from the level of 1.2195 5today. So, the support is found at the level of 1.2153. Since the trend is above the 23.6% Fibonacci level, the market is still in an uptrend. Therefore, the GBP/USD pair is continuing with a bullish trend […]
The currency pair retreated after reaching an intraday high of 0.9048. The instrument is trading at 0.9017 at the time of writing. Still, the retreat could be only temporary. The rate could test and retest the near-term support levels before jumping higher again. Today, the Switzerland KOF Economic Barometer came in at 95.8 points above […]
The EUR/USD pair climbed as much as 1.0625 today, registering a new high. Now, it has retreated a little and is trading at 1.0605 at the time of writing. In the short term, the bias remains bullish despite minor retreats. The Euro dragged the pair higher as the USD was punished by the Dollar Index’s […]
The wave analysis for the pound/dollar pair remains relatively simple and clear. The construction of a new downtrend phase continues, with its first wave having a rather extended appearance. In my view, there is no basis for the British pound to resume an upward trend, so I don’t even consider such a scenario. The presumed […]
The wave analysis of the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we have observed only three wave structures that constantly alternate with each other. Over the past few months, I have consistently mentioned that I expected the pair to reach the 1.5 figure, where the construction of the […]
Early in the American session, gold (XAU/USD) is trading at about 2,001.11, around the 8/8 Murray, and around the 21 SMA. During the opening of this week’s trading session, gold left a bearish GAP which was completely covered. Since then, we have seen a technical correction. However, the metal is now showing signs of exhaustion. […]
The NZD/USD pair is trading at 0.5823 at the time of writing and it seems determined to hit new highs as the Dollar Index is bearish. Still, an upside continuation needs confirmation as the rate challenges a strong resistance. Today, the NZD was helped by the Australian Retail Sales data. Later, the New Zealand Building […]
USDJPY distances itself below 150 ahead of BoJ rate decision Bullish trend loses steam; sentiment might worsen below 149.43 USDJPY could not reap strong gains above the 150.00 round level last week, coming under renewed selling pressure on Monday after a muted Friday. The weakening technical indicators and the break below the 20-day simple […]
EURUSD bounces higher as positive bias gains traction Price climbs above moving averages and ascending trendline But how convincing is this rebound? EURUSD is marching higher, pushing above its simple moving averages (SMA), but more importantly, the price action has moved back above the short-term ascending trendline. The momentum indicators are strongly bullish with the […]
Eurozone economy likely stagnated or contracted in third quarter Euro has been under selling pressure and could remain heavy Growth and inflation data will be released at 10:00 GMT Tuesday Flirting with recession The Eurozone economy has struggled this year, as consumers have been squeezed by rising mortgage costs and elevated energy prices. Economic growth […]
Red line- support trend line Black line- bearish RSI divergence Blue lines- Fibonacci retracement levels Gold price made a new higher high last week but the RSI continued to form lower highs. The bearish divergence in the 4 hour Gold chart suggests that bulls should be very cautious as a reversal is imminent. So far […]
Red lines- bearish channel (broken) Green rectangles- higher lows Blue rectangles- higher highs Black line- support trend line EURUSD is trading around 1.0605. So far price continues to respect the black upward sloping support trend line and the recent higher lows. In the near term price has more upside potential than downside potential. EURUSD recently […]
Blue lines- Fibonacci retracement levels Red line- support trend line Yellow lines- expected path green rectangles- overbought spikes in the RSI Bitcoin is trading around $34,680 just below the 38% Fibonacci retracement of the entire decline from its all time highs. Bitcoin has started making higher highs and higher lows over the last nine months. […]
Red lines- bearish divergence Blue line- support trend line USDJPY is trading around 149.78 after making a new higher high at 150.79. Despite making a new higher high in price, the RSI did not follow but instead provided a new bearish divergence. The upside potential in USDJPY is limited. The USDJPY has broken below the […]
Last week, the European Central Bank left the key interest rate unchanged at 4.50%, noting that future monetary policy would depend on statistical data. The regulator pointed out a continued decline in inflation. However, given that it is likely to remain above target levels for an extended period, further tightening cannot be ruled out. Now […]
Analysis of transactions and tips for trading the British pound The pound remains within the channel due to the absence of significant data from the UK. Considering that there are no data releases expected in the US either, trading is likely to appear somewhat choppy and subdued. However, buyers may take advantage of this and […]
The USD/JPY pair dropped as much as 149.47 today, registering a new lower low. Now it has rebounded and is trading at 149.77 at the time of writing. After the last sell-off, the rate tries to rebound. Still, it could only test and retest the near-term resistance levels before going down. Fundamentally, the USD tries […]
On Friday, the EUR/USD pair continued a modest upward move and closed above the level of 1.0561, which suggests the possibility of further growth towards the Fibonacci level of 23.6% (1.0644). If the pair closes below the level of 1.0561, it will favor the US dollar and signal a resumption of the decline towards the […]
On the hourly chart, the GBP/USD pair rebounded from the level of 1.2106 on Friday and made a slight move towards 1.2175. However, they couldn’t reach the target level, and by Monday morning, the quotes returned to the level of 1.2106. Now, a new bounce from this level will work in favor of the pound, […]
The US dollar remains stable, and investors are avoiding major transactions ahead of the Federal Reserve meeting. It is scheduled for October 31. It will end on Wednesday with the publication of the key rate decision. After that, a press conference will start, during which the Federal Reserve Chair will explain the bank’s decision and […]
Let’s take a look at the technical picture of EUR/USD, GBP/USD, USDX and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly forecast based on simplified wave analysis of… April 8, 2024 GBP/USDAnalysis:Since July last year, the main direction of price movement…Weekly forecast based on simplified wave analysis of… April 8, […]
In my morning forecast, I turned your attention to the level of 1.2100 and recommended making decisions on entering the market with this level in focus. Let’s look at the 5-minute chart and try to understand what happened there. The decline and a false breakout at this level produced an excellent entry point into long […]
In my morning forecast, I paid attention to the level of 1.0554 and recommended making decisions on entering the market from there. Let’s look at the 5-minute chart and try to grasp the point what happened there. EUR/USD declined in the first half of the day. A false breakout at 1.0554 generated a buy signal, […]
· Fed to stick to stable rates; will EURUSD rotate higher? · GBPUSD at a discouraging position ahead of BoE rate announcement · USDJPY not bearish yet as clock ticks down to BoJ rate decision 0:00 Intro 0:39 EUR/USD 2:49 GBP/USD 5:11 USD/JPY For more information on the topics discussed in this video, including detailed […]
The price of gold is trading in the red at 1,993 at the time of writing. After Friday’s amazing rally, a retreat is natural. Still, the rate could only test and retest the near-term support levels before jumping higher again. The bias remains bullish, so further growth is natural despite temporary retreats. Fundamentally, XAU/USD extended […]
Gold hits $2,000 as Israel begins ‘second stage’ of war in Gaza, oil jumps too But safe haven demand eases on Monday as focus turns to central banks Dollar slips below 150 yen as yields consolidate ahead of Treasury announcement Markets on edge but no panic as Gaza conflict escalates Israel’s long-expected ground offensive into […]
