Analysis of EUR/USD 5M EUR/USD continued to push higher on Friday. The growth was due to the U.S. data. We warned you that the data on unemployment and non-farm payrolls might be even more important and impactful than central bank meetings, simply because the meetings initially lacked any intrigue, while the reports could have a […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move downward from the level of 1.2379 (closing of Friday’s daily candlestick) to 1.2341, the 14.6% pullback level (yellow dotted line). Upon reaching this level, the price may move upward with a target at 1.2473, the 61.8% pullback level (red dotted line). Fig. 1 (daily chart). […]
Global markets edged higher last week, evidently believing more positive news at the moment. Reportedly, the recently-held Fed meeting decided on another pause in the rate hike cycle, and would likely continue to do so in the future. Very weak data on new job creation in the US and the ongoing localization of the Middle […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move upward from the level of 1.0730 (closing of Friday’s daily candlestick) to the upper fractal at 1.0746 (yellow dotted line). In the case of testing this level, a downward movement is possible with a target at 1.0692, the 23.6% pullback level (yellow dotted line). Upon […]
The EUR/USD chart currently demonstrates bullish momentum, suggesting the potential for an upward move towards the 1st resistance. The 1st support at 1.0674, associated with the 23.60% Fibonacci Retracement level, may attract buying interest as a significant level. On the resistance side, the 1st resistance at 1.0765, linked to the 38.20% Fibonacci Retracement level, could […]
At the end of the previous week, the EUR/USD pair continued to push higher, reaching a multi-week price high. For the first time since September, traders were able to break into the 1.07 level. Unexpectedly weak Non-Farm Payrolls (NFP) figures exerted pressure on the dollar, making it possible for EUR/USD bulls to take control. However, […]
Just as needed to be proven. The US labor market report has shown that the economy is starting to cool down. This means that all the talk about raising the federal funds rate is baseless. In reality, the Federal Reserve is content with the work done and has no intention of doing more. However, their […]
Overview : The trend of EUR/USD pair movement was controversial as it took place in the downtrend channel. Due to the previous events, the price is still set between the levels of 1.0850 and 1.0773, so it is recommended to be careful while making deals in these levels because the prices of 1.0850 and 1.0773 […]
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 […]
USDCAD plummets on the back of disappointing NFP data Negative sentiment strengthens; eyes on 1.3680 USDCAD extended Thursday’s freefall below its 20-day simple moving average (SMA) and the 1.3700 round level after US employment growth clocked in lower at 150k than analysts expected. Technically, the short-term bias is leaning on the bearish side as […]
AUDUSD breaks familiar resistance zone after dissapointing NFP data Technical signals improve, but some caution necessary AUDUSD rose rapidly in the wake of a weaker-than-expected US jobs report, crossing above the long-term constraining line from the 2020 low at 0.6450 after a couple of failed attempts. The RSI has finally advanced above its 50 […]
Trade analysis and tips for trading the British pound The test of the price at 1.2195 occurred at a moment when the MACD indicator had just started moving downward from the zero mark, confirming the correct entry point for selling the pound in anticipation of weak data on service sector activity. However, after a 10-point […]
Trade analysis and tips for trading the European currency The seller’s attempts failed. The test of the price at 1.0624 occurred when the MACD indicator had just started moving downward from the zero mark, confirming the correct entry point for selling the euro. However, the pair never dropped as expected, resulting in losses being incurred. […]
The EUR/USD pair continued its upward movement on Thursday and once again tested the corrective level of 23.6% (1.0644), reaching the previous peak. Near this peak, a reversal in favor of the US dollar occurred, and the pair closed below 1.0644, which now allows us to anticipate further downward movement back to the level of […]
On the hourly chart, the GBP/USD pair confirmed yesterday’s close above the level of 1.2175, allowing traders to expect further growth towards the next corrective level of 161.8% (1.2250). A bounce from this level will work in favor of the US dollar, leading to a decline towards 1.2175. Closing quotes below the level of 1.2175 […]
The GBP/USD pair updated a one-and-a-half-week high yesterday, marking at the level of 1.2224. Not a remarkable achievement, but a fact nonetheless. It’s important to understand that the upward rebound of GBP/USD is primarily driven by the weakening of the greenback, rather than the strengthening of the British currency. The Bank of England did not […]
As of this writing, USD/CAD was trading near the level of 1.3743, within the midrange of today’s narrow range between the levels of 1.3760 and 1.3727. In general, USD/CAD remains in the zone of medium-term support—above the level of 1.3485 (200 EMA on the daily chart), long-term support—above the level of 1.3160 (200 EMA on […]
The pound sterling rose following the Bank of England’s meeting. Yesterday, Bank of England Governor Andrew Bailey stated that it was too early to consider rate cuts. However, financial markets have different ideas. After the UK’s central bank paused its fastest tightening in three decades, traders now expect three rate cuts of a quarter point […]
Reserve Bank of Australia could raise rates on Tuesday Chinese trade and inflation stats also in the spotlight UK economy likely contracted in Q3 – can sterling hold on? RBA decision will be a close call With most of the major central bank decisions in the rear-view mirror and volatility in bond markets coming […]
For now, the euro is in demand following the decision of the US Federal Reserve to keep interest rates unchanged. According to Isabel Schnabel, a member of the Executive Board of the ECB, the European Central Bank’s fight against inflation might require another interest rate hike. She stated in her speech on Thursday, “After a […]
Technical analysis: GBP/USD has been trading sideways at the price of 1.1220 and it is still trading inside of the symmetrical triangle pattern. There is potential for the breakout in the net period. In case of the upside breakout of the resistance at 1.2285, there is potential for the growth towards 1.2460 In case of […]
In my morning review, I mentioned the level of 1.2184 as a possible entry point. Let’s have a look at what happened on the 5-minute chart. A fall to this level and its false breakout generated a good entry point into long positions, sending the price up by more than 30 pips. For the second […]
GBPJPY resumes muted tone despite bullish breakout Nearby support levels keep the focus on the upside GBPJPY could not capitalize from Tuesday’s surge above the short-term resistance trendline, staying muted around the 183.55 area. The RSI is above its 50 neutral mark, although weaker, and the MACD is keeping its footing above its red […]
US 500 cash index trades sideways today after strong rally Impressive weekly rebound amidst key market events Momentum indicators cautiously supportive of current upleg The US 500 cash index is trying to record its fifth consecutive green candle and further increase the 5% jump recorded this week. It is now preparing to test the resistance […]
September has become another significant month for gold purchases by central banks worldwide, according to Krishan Gopaul, senior analyst at the World Gold Council. Data from IMF shows global gold reserves of central banks increased by 78 tons in September. The gross volume of sales amounted to just 1 ton, which was offset by a […]
Technical analysis: Gold has been trading upside this morning but the key resistance at the price of $1.991 is on the test. There is potential for the rejection or the upside continuation. In case of the rejection of the resistance at $1.991, there is the chance for the downside movement towards $1.971 and $1.961 In […]
Potential for the downside movement on the BTC The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for April 05, 2024 April 7, 2024 Potential for the further drop on NAS100 ….The material has…Can Q1 earnings season refuel the equity market rally? –… April 7, 2024 Earnings parade unofficially starts on […]
Analysis of Trades and Trading Tips for the British Currency The test of the price at 1.2199 in the afternoon coincided with the moment when the MACD indicator had risen significantly above the zero mark, which limited the pound’s bullish potential. For this reason, I did not buy, especially after the Bank of England announced […]
