The price of gold is trading in the green at 1,929 at the time of writing. The bias is bullish, so further growth is natural. Technically, after such an impressive growth, a correction was natural. The USD’s short-term depreciation helped XAU/USD to hit new highs. Fundamentally, Gold remains bullish as the Canadian and New Zealand […]
Red lines- bearish channel Green line -support trend line GBPUSD is trading around 1.2150. Trend remains bearish as long as price stays inside the red downward sloping channel. Recently price got rejected at the upper channel boundary and so far has formed a higher low. The green support trend line connecting the recent lows is […]
Netflix reports financial results on Wednesday after the closing bell Revenue and earnings set to grow despite stock slide in Q3 Valuation at considerably high levels Poor third quarter jeopardises a solid year Undoubtedly, Netflix has been the best performer in the streaming sector in 2023 as its competitors have been struggling to achieve profitability. The […]
Green line- support trend line Yellow rectangles- horizontal support Blue rectangle- target area USDJPY is trading around 148.77. Trend remains bullish as price continues making higher highs and higher lows above the green upward sloping support trend line. Recent price action with long lower tailed candlesticks suggest that the trend is supported. Price continues making […]
Red lines-bearish channel Blue rectangle- short-term support EURUSD is trading around 1.0550. Earlier today bulls tried to push price higher towards the upper channel boundary at 1.0602. Bulls failed. Price remains inside the red downward sloping channel it was in. After the rejection at 1.0640 price is under pressure. New lows should be expected, specially […]
The GBP/USD pair is trading at 1.2138 at the time of writing and it seems determined to hit new lows. In the short term, it has tried to rebound as the Dollar Index retreated a little. Now, the DXY rallied, boosting the greenback. The bias remains bearish despite temporary rebounds. Fundamentally, the UK Average Earnings […]
Red lines- bearish channel Gold price is trading around $1,921. After the strong bounce last Friday from $1,868 to $1,932, Gold price is now consolidating near its recent highs. This is important resistance area because here we also find the upper channel boundary. Gold longs are still not out of danger. Price remains inside the […]
Let’s take a look at the technical picture of EUR/USD, AUD/USD, USD/CAD and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly Forex Outlook: 12/04/2024 – More inflation data on… April 12, 2024 CPI numbers due in the UK and Japan. China to also…Bitcoin holds above $70,000 as halving event looms – […]
Labour market statistics coming up on Thursday (00:30 GMT) RBA minutes firmly opened the door for a November rate hike Aussie bulls are desperately looking for a push higher against the US dollar RBA paused but minutes tell a different story Conforming with the key central banks globally, the Reserve Bank of Australia kept its […]
In my morning forecast, I emphasized the level of 1.2185 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. A breakout and a subsequent retest of this range generated a sell signal, resulting in a significant drop and allowing traders to capture about […]
The AUD/USD currency pair is demonstrating a corrective rise following an impulsive decline observed last week (the low was fixed at the 0.6290 mark). The pair has been rising for the second consecutive day, paying no attention to the conflicting dynamics of the greenback. The U.S. Dollar Index this week has been unable to determine […]
In my morning forecast, I drew attention to the level of 1.0538 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The decline and the formation of a false breakout at 1.0538 led to an excellent entry point for long positions, resulting in […]
The EUR/USD pair reversed its direction on Monday, moving back to the corrective level of 161.8% (1.0561), bouncing off of it, and turning in favor of the US dollar. Therefore, the downward trend may continue today towards the level of 1.0489. If the pair’s rate consolidates above the 1.0561 level, it will favor the European […]
On the hourly chart, the GBP/USD pair reversed in favor of the British on Monday and rose above the level of 1.2175. However, today there was a return to the level of 1.2175, and if it holds below, it will favor the US dollar and further decline towards the levels of 1.2112 and 1.2039. The […]
Analysis of transactions and trading tips on GBP/USD Further decline became limited because the test of 1.2157 coincided with the sharp downward movement of the MACD line from zero. The decrease in UK average earnings led to a sell-off of pound, which may intensify today after the release of strong US statistics. Any increase in […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0552 earlier in the day took place when the MACD line moved upward from zero, prompting a signal to buy. However, no strong price increase occurred, resulting in losses. Fairly good data from the ZEW for Germany and the eurozone helped euro return to […]
Although market tensions somewhat eased, investors, in the face of uncertainty, continue to look for new trading opportunities. The upcoming corporate earnings season in the US appears to be positive, and this could lead to a local rally in the markets, with consideration of the Middle East crisis. Signals from Fed members indicating the necessity […]
Risk aversion eases as diplomatic efforts to end Israel-Gaza war ramped up Gold off highs, while earnings optimism additionally boosts Wall Street Dollar steady as yields resume climb ahead of US retail sales, Fed speakers Mood improves on diplomacy hopes Risk sentiment was notably more buoyant on Tuesday as fears about the unfolding situation in […]
GBPJPY has been steadily declining since its peak at 186.45, hitting a low of 178.00 earlier this month before rising back above 180.00. The resistance trendline from August’s peak came to cancel last week’s bullish action at 183.80, with the technical indicators currently raising doubts as to whether the pair will find enough buyers to rotate higher again. The […]
The GBP/USD currency pair also recovered to the moving average line on Monday but could not surpass it. Movements in both major currency pairs have been identical in recent weeks, so everything mentioned in the article about EUR/USD is also applicable to the GBP/USD pair. Therefore, the key question for the British currency today is […]
Potential for the breakout mode on Gold… 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 […]
The EUR/USD currency pair recovered to the moving average line on Monday, and now the key question is whether it will breach it once more, which would open the way for further corrections for the euro. We have repeatedly mentioned that we advocate the continuation of the correction, as we believe that a move of […]
Details of the Economic Calendar on October 16 Monday, as usual, was accompanied by an empty macroeconomic calendar. Important statistical data releases in the European Union, the United Kingdom, and the United States did not take place. Analysis of Trading Charts from October 16 The EUR/USD currency pair once again reduced the volume of short […]
Technical analysis: BTC/USD has been trading upside and the price reached upside objective at $28.800 but I found strong reversal and weak close yesterday, which is a sign of the weakness. Key resistance at the price of $28.600 is on the test and we had weak close yesterday, which is a sign of the indecision […]
Yesterday, the pair formed several entry signals. Let’s see what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.2175 as a possible entry point. A rise and a false breakout at this mark produced a sell signal, sending the pair down by more than 39 pips. In the afternoon, […]
Technical analysis: Gold has been trading sideways at the price of $1.918 and I found symmetrical triangle pattern in creation, which is a good sign for potential breakout mode in the next period. In case of the breakout of resistance at $1.922, I see potential for the further rally towards upside reference at $.932 In […]
Technical analysis: EUR/USD has been trading sideways at the price of 1.0550 and I see potential for the rejection or the breakout of the key resistance at 1.0560. In case of the breakout of resistance at 1.0560, I see potential for the further rally towards upside references at 1.0585 and 1.0610 In case of the […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move downward from the level of 1.2210 (closing of yesterday’s daily candle) to test 1.2152, the 14.6% pullback level (red dotted line). Upon testing this level, an upward movement is possible to the 1.2285 resistance level (red thick line). Fig. 1 (daily chart). Comprehensive analysis: Indicator […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move downward from the level of 1.0559 (closing of yesterday’s daily candle) to test 1.0519, the historical support level (blue dotted line). Upon testing this level, an upward movement is possible to the 1.0584 resistance level (red bold line). From here, the price may continue to […]
Analysis of transactions and tips for trading USD/JPY The test of 149.62, coinciding with the upward movement of the MACD line from zero, prompted a buy signal that led to a price increase of around 15 pips. Buyers seem to be hesitant to act around the 150 level, so expecting a strong surge in dollar […]
