Technical Market Overview: The EUR/USD pair has broken below the 61% Fibonacci retracement at the level of 1.1170 after the Bearish Engulfing candlestick pattern was made around the level of 1.1265. The price has broken through the short-term trendline support as well and is on its way to the level of 1.1150 first and then […]
USD / JPY pair On Thursday, the USD/JPY pair is managed to stay above the balance line of the daily chart. The line is the red line signal and the MACD line (blue) on the H4 chart. If you’re not in the first place, you should see a 112.58. If you’re on the road to […]
GBP / USD pair On the second attempt of the sterling pound, it could not go above the daily MACD line at1.3060, where it also met with resistance of the Fibonacci level of 38.2%. This is an important sign of a probable decline but not sufficient enough. First of all, the low volatility of the […]
EUR/USD On Thursday, the dollar strengthened, adding 0.2% to the index, which was facilitated by good data on the growth of factory orders – the March figure grew by 1.9% against expectations of 1.0%. The euro lost 22 points, eventually gaining support from the four-hour balance line. The Marlin oscillator on H4 indicates a further […]
Price reversed nicely below our first resistance where we might see a further drop in price to our first support level. Entry : 0.8593 Why it’s good : horizontal pullback resistance, 23.6% fibonacci retracement Stop Loss : 0.8626 Why it’s good : 50% fibonacci retracement, horizontal pullback resistance Take Profit : 0.8525 Why it’s good […]
Price is testing its major support-turned-resistance at 0.7002, a break out will give a confirmation of a further move down towards its support at 0.6934. Entry : 0.7002 Why it’s good : horizontal pullback resistance, 100% fibonacci extension Stop Loss : 0.7071 Why it’s good : Horizontal swing high resistance Take Profit : 0.6934 Why […]
Price is approaching a key resistance at 111.608 where it could potentially reverse to its support. Entry : 111.608 Why it’s good : horizontal swing high resistance,38.2% fibonacci retracement, 61.8% Fibonacci extension Stop Loss : 111.910 Why it’s good :61.8% fibonacci retracement,100% Fibonacci extension, horizontal swing high resistance Take Profit : 111.045 Why it’s good […]
The pound actually ignored the so-called “super-Thursday”: despite the abundance of information, the GBP/USD pair repeated yesterday’s trajectory, remaining within the 30th figure. Although by and large, all the prerequisites for increased volatility for the pair were: within one day, the most important fundamental events took place – the Bank of England meeting, the publication […]
We are looking to sell below major resistance at 1.2506 for a push down to major support at 1.1132. Stop loss would be at 1.1279. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:EUR/USD. Analysis for April 12th. The euro falls down under… April 12, 2024 The wave analysis of the 4-hour […]
4-hour timeframe The amplitude of the last 5 days (high-low): 69p – 42p – 125p – 123p – 73p. Average amplitude for the last 5 days: 86p (82p). Over the past two days, the British pound also moved away from local highs. The Bank of England meeting was held in the UK today, however, it […]
4-hour timeframe The amplitude of the last 5 days (high-low): 45p – 63p – 42p – 53p – 78p. Average amplitude for the last 5 days: 56p (57p). There were few important macroeconomic events for today. In the morning, the index of business activity in the manufacturing sector of Markit for the euro area was […]
Few weeks ago, a bullish Head and Shoulders reversal pattern was demonstrated around 1.1200. This enhanced further bullish advancement towards 1.1300-1.1315 (supply zone) where significant bearish rejection was demonstrated on April 15. Short-term outlook turned to become bearish towards 1.1280 (61.8% Fibonacci) then 1.1235 (78.6% Fibonacci). For Intraday traders, the price zone around 1.1235 (78.6% […]
EURUSD got rejected at the 1.1260 level where we find the upper channel boundary resistance. Price has now pulled back towards short-term support of 61.8% Fibonacci retracement of the last leg higher from 1.1112. Red line – major resistance trend line At 1.1170 we find important short-term Fibonacci support. At 1.1220 we find resistance and […]
Gold price made a low at $1,266 making a double bottom so far as prices bounce towards $1,270. Trend remains bearish in short and medium-term trend. Key level is at $1,300. Red rectangle – horizontal resistance (previous support) Blue line – resistance trend line Gold price is back to its 2019 lows. Gold is forming […]
BTC has traded upward. The price tested the level of $5.715.BTC is at the key resistance $5.655 and buying at this stage looks risky. My advice is to watch for potential selling opportunities and downward correction. Purple rectangle – Swing high (resistance) Smaller yellow channel – short-term channel BTC is on the key short-term resistance […]
To open long positions on GBP/USD, you need: The Bank of England’s decision on interest rates led to a slight surge in market volatility, but the technical picture did not change compared to the morning forecast. At the moment, buyers of the pound need a return and consolidation above the resistance of 1.3057, which will […]
To open long positions on EURUSD, you need: Weak data on eurozone manufacturing activity did not allow euro buyers to resume an upward correction. At the moment, the problematic level is the resistance area of 1.1227, the breakthrough of which will lead to further growth of EUR/USD and the renewal of the maximum of 1.1260, […]
The European currency failed to properly recover from yesterday’s fall against the US dollar after the publication of reports on industrial activity in the eurozone, which continued to show a slowdown. According to the data, the Purchasing Managers Index (PMI) for Italy’s manufacturing sector rose to 49.1 points in April of this year, while it […]
USD/JPY has been trading upwards post FOMC minutes. The price did test the level of 111.65. We are expecting more upside on the USD/JPY In the next period. Yellow horizontal lines – Resistance levels Smaller white lines – bullish flag pattern (continuation) Larger white line – resistance trendline USD/JPY did break the key supply trendline […]
On March 29, the price levels of 1.2980 (the lower limit of the newly-established bearish movement channel) demonstrated significant bullish rejection. This brought the GBPUSD pair again towards the price zone of (1.3160-1.3180) where the upper limit of the depicted bearish channel as well as the backside of the depicted broken uptrend line demonstrated significant […]
Yesterday, the Federal Reserve delivered its verdict on the economy and the fifth interest rates decision of the year. As expected, the Fed left interest rates unchanged and signaled that it will not hike or lower rates this year. Following this decision, attention will be on the Bank of England (BOE), which is expected to […]
In April, the price of crude oil continued the upward trend started in December following the OPEC meeting. The rise in price was mostly because of the continued supply cuts by OPEC, the removal of Iran in the international oil market, the crisis in Libya, Sudan, and Venezuela, and the ongoing trade talks between United […]
The dollar strengthened after the Fed left interest rates unchanged in its fourth meeting of the year. The decision to leave rates unchanged at the 1.75% level was widely expected because of the past guidance by the Fed. After the hawkish December meeting, the bank started walking back that statement and insisted that it will […]
The widely expected US Nonfarm payrolls report is coming out on Friday at 1230 GMT to direct markets over the path of interest rates as this week’s comments by the Fed chairman, Jerome Powell, did not convince investors that the central bank’s next move is going to be a rate cut. Following the Federal Open Market Committee (FOMC) policy […]
EUR/USD has been trading downwards. The price did drop after FOMC report yesterday and tested the level of 1.1187 with a high volume. Since the strong reaction from sellers of resistance at 1.1260, we are expecting further downward continuation. Yellow rectangle – Swing high (resistance) Larger white channel – Upward trend (broken Smaller white lines […]
Bitcoin has been quite impulsive with the recent bullish momentum which resulted in a break above $5,500 area. Reportedly, Bitcoin exchanges in the US received significant investments which enabled the cryptocurrency to attract buyers. So, the ongoing rally is expected to continue. As seen on the H1 chart, the price has already broken above the […]
AUD/USD broke below 0.7050 area and is set to decline further with target towards 0.6850. Australia released a positive employment change report but a negative unemployment rate report. As a result, the Australian currency weakened. Other econmic reports reinforsed the downward pressure. Thus, home prices declined again in April amid lackluster demand and tight credit, […]
USD/CAD has been quite volatile with the recent price action above 1.3400 area. Previously, an impulsive break above this level was seen at a daily close. The Federal Reserve has taken a dovish stance, keeping the rates unchanged. It is expected to lead to further weakness of USD against CAD in the coming days. At […]
BTCUSD is hovering above the Ichimoku cloud and the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, which are ready to post a bullish cross in the next few sessions. The price found strong support near the 23.6% Fibonacci retracement level of the upward rally from 3313 to 5600, around 5062. The technical indicators […]
McDonalds’ stock price has been making higher highs and higher lows since August 2018, creating an upward tilting channel. In the short-term, prices moved lower after the pullback on the multi-month high of 200.00 on April 30. The technical indicators are sending bearish signals, suggesting softness in the market in the near term. The RSI has […]
