Trading plan for GBP/USD on November 8. Simple tips for beginners

Analyzing Tuesday’s trades: GBP/USD on 30M chart GBP/USD continued its downward movement on Tuesday, which had started the previous day. The pound did not have any fundamental or macroeconomic reason to fall. There were no significant reports released in either the U.S. or the UK. However, it’s important to remember that strong movements are often […]

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Trading plan for EUR/USD on November 8. Simple tips for beginners

Analyzing Tuesday’s trades: EUR/USD on 30M chart On Tuesday, EUR/USD continued its downward movement, which began on Monday, and by the end of the day, it was near the level of 1.0673. The pair couldn’t surpass this mark, and overall, volatility was 56 pips. Again, this is a very small value that doesn’t offer good […]

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USD/JPY. Where does the red line lie?

The USD/JPY pair is once again testing the 150.00 level amid a stronger US dollar. This is far from the first attempt to breach this elusive price barrier, which plays a big role. Traders find themselves caught between a rock and a hard place. On one hand, there are no other options for USD/JPY bulls […]

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RBA raises rates, dollar tries to regain initiative. Review of USD, NZD, AUD

After witnessing significant market movements in stocks and bonds last week, the start of this week has been relatively calm. The yield on 10-year US Treasury bonds became steady after retreating from the psychological level of 5%. The dollar is trying to regain the initiative, which may prove challenging given the unexpectedly weak economic reports […]

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Technical analysis on GBP/USD on November 07, 2023

The pair is expected to drop higher towards at least 1.2460 with a view to test the daily pivot point. The level of 1.2543 will act as strong resistance and the double top is already set at the point of 1.2543. On the other hand, if a breakout happens at the support level of 1.2205, […]

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Technical analysis on EUR/USD on November 07, 2023

Overview : A trend in the EUR/USD pair was argumentative as it was trading in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still moving between the levels of 1.0636 and 1.0780. Resistance and support are seen at the levels of 1.0780 (also, the double top […]

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November 7, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

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 […]

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November 7, 2023 : EUR/USD Intraday technical analysis and trading plan.

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 […]

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November 7, 2023 : Analyzing Recent Trends and Trading Opportunities in EUR/USD: A Technical Analysis Perspective.

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 […]

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Oil dives into the abyss

Neither Israel’s invasion of Gaza, nor the increase in Chinese oil imports, nor the extension of production and export reduction commitments by Saudi Arabia and Russia have frightened the Brent bears. The quotes of the North Sea grade plummeted to their lowest level since the end of August against the backdrop of decreasing premiums for […]

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Euro breaks the rules

The market is testing the Federal Reserve’s resilience for the fifth time in the current cycle of monetary policy tightening. The four previous attempts, when the decline in Treasury yields indicated a dovish pivot, turned out to be failures. However, if the Fed does make a mistake regarding the unfinished fight against inflation, there’s an […]

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Technical Analysis – USDJPY bulls test Japanese authorities’ resolve again

USDJPY edges higher again today, back above 150.15 Increased pressure on Japanese authorities to intervene Mixed momentum indicators complicate the outlook USDJPY is higher again today after bouncing off the lower boundary of the ascending trending channel that has been in place since mid-March. The announcements at last week’s Bank of Japan meeting have done little […]

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Technical analysis on Bitcoin for November 7th, 2023.

Blue lines- Fibonacci retracement levels Red line- support trend line Orange rectangles- potential repetition of past action Green rectangles- overbought RSI levels combined with price top Bitcoin is trading around $34,775. Short-term trend remains bullish as price continues making higher highs and higher lows. The RSI has reached overbought levels and is forming bearish divergence […]

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Technical analysis on Nasdaq for November 7th, 2023.

Red line- resistance Blue lines- Fibonacci retracement levels NASDAQ is found at a very crucial price level where bulls challenge the red downward sloping resistance trend line. The trend line provides resistance at 15,185 and a daily close above this level would be a positive sign. Price has already retraced almost 38% of the entire […]

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Technical analysis on Gold for November 7th, 2023.

Blue lines- Fibonacci retracement levels Gold is under pressure for a second day in a row. Price has just slipped below the 23.6% Fibonacci retracement as expected. In previous posts we noted that Gold price is vulnerable to a move lower. The RSI is turning lower from overbought levels. Next downside target is at $1,930 […]

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Technical analysis on EURUSD for November 7th, 2023.

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 […]

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Disney to report higher earnings but will its shakeup plan impress? – Stock Markets

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 […]

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Forex forecast 11/07/2023 : AUD/USD, USD/JPY and Oil from Sebastian Seliga

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 […]

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Bitcoin continues to consolidate near $35k: when to expect bullish momentum?

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 […]

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Could surprise indices explain market movements? – Special Report

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 […]

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XM’s Dubai Seminar – Learning, Networking & Prizes

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 […]

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EUR/USD: Will there be a retest of 1.0735?

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 […]

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AUD/USD dynamics scenarios on November 7, 2023

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 […]

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AUD/USD: Buy on rumors, sell on facts

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 […]

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EUR/USD. November 7th. Germany’s economy is going through challenging times

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 […]

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