Analyzing Wednesday’s trades: EUR/USD on 30M chart EUR/USD dropped for the second consecutive day, and by the end of the day, it fell to the ascending trendline. The euro’s fate for the next few days, and possibly weeks, will be determined in the coming hours. If the pair breaches the trendline, there is a high […]
The yellow metal continues to stay higher, even though the USD appreciated versus its rivals. As you already know, the US Flash Manufacturing PMI and Flash Services PMI came in better than expected yesterday, but XAU/USD remains under upside pressure as the Eurozone and UK manufacturing and services sectors confirmed contraction again. Technically, the price […]
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 […]
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 […]
The GBP/USD pair faced a strong resistance near 1.3200 and started a fresh downtrend. It broke the 1.2800 support level on a H4 candlestick and extended its decline towards 1.2500, where it met a crucial Fibonacci retracement level. This could be a good opportunity for intraday traders to go long, with a stop loss just […]
On Thursday, October 26, the European Central Bank will hold its regular meeting, which is the penultimate one this year. On one hand, the formal outcomes of this meeting are predetermined: the regulator will most likely maintain the parameters of its monetary policy as they are. On the other hand, the October meeting may provoke […]
Regarding the GBP/USD pair, the wave analysis remains relatively straightforward and clear. The construction of a new downtrend segment continues, the first wave of which has taken on quite extensive form. In my view, there is no basis for the British pound to resume an upward trend, so I do not even consider such a […]
Meta to report strong earnings after market closes Focus remains on AI & Metaverse outlook Earnings estimates Meta platforms, the parent company of Facebook and Instagram, will announce third-quarter earnings on Wednesday after the market closes. Forecasts point to notable growth, with the consensus recommendation from analysts polled by Refinitiv being a buy. Total […]
The wave analysis on the 4-hour chart for the EUR/USD currency pair remains quite clear. Over the past year, we have seen only three wave structures that constantly alternate with each other. For the past few months, I have regularly mentioned that I expect the instrument to approach the 1.5-figure, from which the construction of […]
USDX halts retreat at a crucial technical zone Continues to hover between 38.2% and 50.0% Fibonacci Momentum indicators endorse the resumption of the recent rebound The US dollar index (December Futures) has been stuck within a rangebound pattern defined by the 50.0% and 38.2% Fibonacci retracements of the 114.71-99.19 downleg. In the last couple of sessions, […]
Early in the American session, Gold (XAU/USD) is trading around 1,975.78, above the 21 SMA within a downtrend channel formed since October 20. According to the H1 chart, we can see that gold has strong bullish potential but is facing strong resistance. A break and consolidation above 1,978 could accelerate the bullish movement and the […]
As of this writing, USD/CAD was trading near the level of 1.3777, in close proximity to a local high (since the end of March this year) and the level of 1.3785, reached earlier this month. Moreover, the pair is showing an upward trend, trading within the medium-term—above the support level of 1.3460 (200 EMA on […]
Blue lines- Fibonacci retracement levels Red lines- bullish channel Oil price recently broke out of its bullish channel providing a bearish signal after a strong rise from $67. The first part of the decline formed a low around $81.50. Price bounced and back tested the broken channel from below. Price made a lower high at […]
Gold price is trading around $1,975. Today we use the Ichimoku cloud indicator in the 4 hour chart to identify key support and trend change levels. According to the Ichimoku cloud indicator, despite the recent pull back and stop in advance, trend remains bullish as price is still above the Kumo (cloud). The Chikou span […]
Red line- resistance Black line- support USDJPY is trading around 150. Price continues to trade sideways inside a triangle pattern where the upper boundary is almost horizontal around 150 and the lower triangle boundary is rising. The most probable outcome for USDJPY is for the pair to break above 150 and rise towards 152 or […]
It is evident that within the 9% rally in gold over two weeks, starting from the Hamas terrorist attack on Israel, there is a geopolitical risk premium. The incredible part is that the precious metal has severed its connection with the real yield of U.S. Treasury bonds, which has been stable since 2008. Furthermore, it […]
Red lines- bearish channel Black line- support trend line green lines- Fibonacci extension levels EURUSD is under pressure. Price yesterday reached our target after the exit off the bearish channel. Price reached the 100% Fibonacci extension target and is now back testing the black upward sloping support trend line. The black support trend line provides […]
On October 1, we held a popular trading seminar in Ghana for our clients, titled ‘How to identify high quality trades’. Our trading expert Olugbemi Oyewale taught participants how to trade using popular technical and fundamental analysis, plus how to manage their funds via risk and money management strategies. Attendees had the chance to get […]
Technical analysis: BTC/USD has been trading upside and I found breakout of the well defined symmetrical triangle patter. There is potential for the further growth. Due to the breakout of the symmetrical triangle and strong underlying trend in the background, I see potential for the further growth. Upside objectives are set at $35.185 and $36.300 […]
Technical analysis: GBP/USD has been trading downside today and I see consolidation phase in play and potential for the breakout mode. In case of the downside breakout of the support of the consolidation at 1.2114, I see potential for the further drop towards lower reference. Downside objective is set at the price of 1.2090 RSI […]
US stock futures opened lower following several failed attempts to break beyond the previous day’s highs. The S&P 500 futures dropped by 0.2%, while the tech-heavy NASDAQ declined by 0.3%. The yield on 10-year Treasury bonds increased by four basis points, with the dollar strengthening against riskier assets. Rising bond yields continue to dampen risk […]
Technical analysis: Gold has been trading sideways at the price of $1.937 but I see potential for the bullish continuation in the case of the breakout of the resistance. Due to the strong underlying upside trend and potential for the bull flag pattern in creation, I see potential for the further growth in case of […]
The rise of the U.S. dollar after positive macro data received from the U.S. on Tuesday is accelerating on Wednesday. As of writing, the DXY index was trading near 106.27, 19 points higher than the previous day’s closing price and 112 points above the local and over 4-week low reached during the Asian trading session […]
Analysis of transactions and trading tips on GBP/USD Further decline became limited because the test of 1.2153 coincided with the strong downward movement of the MACD line from zero. As for the test of 1.2116, it led to a signal to buy. However, a strong upward surge did not occur. Ahead lies the data on […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0592, which occurred earlier in the day, coincided with the downward movement of the MACD line from zero, leading to a signal to sell. This resulted in a price decrease of over 25 pips. Euro continued to fall despite the good data from the […]
Meta stock pulls back from 2023 peak Halts decline and attempts rebound in the last few sessions But oscillators suggest fading positive momentum Meta’s (Facebook) stock has been in a steep uptrend since it bottomed out in October 2022, while defying the broader market pullback since late summer. In the near-term, the price has been showing some weakness after […]
In my morning forecast, I pointed out the level of 1.2154 and recommended making decisions based on it for market entry. Let’s take a look at the 5-minute chart and analyze what happened there. A breakthrough in this area occurred, but unfortunately, there were just a couple of points missing for a retest. For this […]
Despite all attempts at correction for GBP/USD, the weakness of the British economy doesn’t allow the bulls to expect significant success. They’ve had their fun, and that’s enough. The most aggressive monetary tightening by the Bank of England, with the highest repo rate at 5.25% since 2008, is cooling down the UK economy. The GfK […]
In my morning forecast, I drew attention to the level of 1.0586 and recommended using it to make trading decisions. Let’s look at the 5-minute chart and analyze what happened there. The decline and the formation of a false breakout around 1.0586 occurred, which gave a signal to buy. However, despite good statistics, there was […]
On Tuesday, the EUR/USD pair executed a reversal in favor of the US dollar, dropping to the levels of last Monday’s opening. The ascending trend corridor continues to characterize traders’ sentiment as “bullish.” If the quotes remain below this corridor, it will favor the US currency and cause the formation of a new “bearish” trend. […]
