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. […]
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 […]
