Although currently on the 4 hour chart Polkadot Cryptocurrency is inside the selling pressure where this is confirmed by MA 20 which is below MA 200 (Death Cross) as well as Stochastic Oscillator which is on the overbought level, but with the MA 20 condition in the middle of candle body as well as the […]
As we have already discussed, it no longer makes sense to expect a rate cut from the Federal Reserve. The latest Consumer Price Index report showed that inflation exceeds the target mark by almost twice. It will take at least 5-6 months for inflation to slow down to at least 2.5%. And only then will […]
This week has been quite dull, although both FOMC and ECB members made several important statements. The euro saw demand on Wednesday, but this was clearly a correction. Last week, the euro lost enough ground so at least it could execute some kind of upward movement. However, the overall wave structure has not changed just […]
The more we hear positive news from the US economy, the more the market becomes convinced that EUR/USD is moving towards parity. Societe Generale says that if the Federal Reserve does not lower the federal funds interest rate in 2024, the currency pair will plummet to at least 1.05. In this case, consistently low initial […]
The wave analysis of the GBP/USD pair remains quite complex but may become simpler in the coming weeks. A successful attempt to break the Fibonacci level of 50.0% indicates the market’s readiness to build a downward wave 3 or C. If this wave continues its formation, the wave pattern will become much simpler, and the […]
The wave analysis of the 4-hour chart for the EUR/USD pair remains unchanged. At the moment, we observe the construction of the presumed wave 3 within wave 3 or C from the downward trend section. If this is indeed the case, the decline in quotes will continue for quite some time, as the first wave […]
Trade Analysis and Advice for the Japanese Yen The test of the price at 154.45 occurred when the MACD indicator had significantly risen from the zero mark, limiting the upward potential of the pair. For this reason, I refrained from buying, and it was the right decision. As a result, there was no continuation of […]
Trade Analysis and Advice for the British Pound The test of the price at 1.2463 in the first half of the day coincided with the beginning of the MACD indicator’s downward movement from the zero mark, confirming the correct entry point for selling the pound. However, the pair did not decline, and trading remained within […]
Analysis of Deals and Trading Tips for the European Currency The test of the price at 1.0675 in the first half of the day occurred when the MACD indicator had moved significantly down from the zero mark, limiting the further downward potential of the pair, especially within the recent upward correction we have been observing. […]
In my morning forecast, I pointed out the level of 1.2447 and planned to make trading decisions based on it. Let’s look at the 5-minute chart and analyze what happened there. The pair’s decline occurred, but the update of 1.2447 did not happen. Low market volatility and the absence of important statistics from the UK […]
Early in the American session, the EUR/USD pair is trading around 1.0660, within an uptrend channel forming since April 14, above the 2/8 Murray, and above the 21 SMA. This gives us the idea of a bullish advance in the coming days. During the European session, the euro reached the top of the uptrend channel. […]
BTC/USD is trading around $61,927, below the downtrend channel, and bouncing after reaching the low of $59,619, a level that coincided with the area of 3/8 Murray. On the H4 chart, we can see that Bitcoin has been under strong downward pressure since April 11. Only a sharp break above this channel could change the […]
On the hourly chart, the GBP/USD pair continued to trade horizontally on Wednesday. The Fibonacci level of 50.0%–1.2464 is currently being ignored by traders as a new sideways channel has formed. This channel is small, but the pair may spend some time there. Trading signals should not be sought around the level of 1.2464. The […]
Gold is trading around 2,381, above the 21 SMA, and above 6/8 Murray. Technically, gold could continue its rise in the coming days if it consolidates above 2,375. The metal could trade within the uptrend channel and could reach 7/8 Murray located at 2,437. In case gold breaks and consolidates below the uptrend channel forming […]
154.80 is the new price ceiling for USD/JPY. On the wave of the dollar rally, buyers twice approached this resistance level (which, by the way, corresponds to the upper line of the Bollinger Bands indicator on the D1 timeframe) and pulled back twice. However, this does not mean that traders are afraid of the 155 […]
In my morning article, I paid attention to the level of 1.0686 and planned to make decisions on entering the market from there. Let’s look at the 5-minute chart and discuss what happened there. The growth and a false breakout in the area of 1.0686 produced a sell signal, which was never fully realized. Having […]
Recently, the US dollar has not been particularly popular among traders, who have shifted their focus to more attractive risk assets. However, this situation could end as quickly as it began. Obviously, following the latest US inflation data, the Federal Reserve’s course will now change as rapidly as prices do. Yesterday, Cleveland Federal Reserve Bank […]
We introduce you to the daily updated section of Forex analytics where you will find reviews from forex experts, up-to-date monitoring of financial information as well as online forecasts of exchange rates of the US dollar, euro, ruble, bitcoin, and other currencies for today, tomorrow and this trading week. Video Agenda: 00:00 INTRO 00:13 Today’s […]
Potential for the further drop on BTCUSD The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – US dollar on the back foot as nervousness… April 18, 2024 Euro edges higher despite continued hawkish commentary from Fed officials…Hot forecast for EUR/USD on April 18, 2024 April 18, 2024 In the absence […]
In the absence of economic reports or other news that could affect the market, investors finally paid attention to the dollar’s overbought condition. So, there was nothing to prevent the local correction, which, by the way, is still far from over. The market imbalances, although reduced, have not disappeared altogether. And except for the data […]
EUR/USD Higher Timeframes The monthly boundary of 1.0611 is still the most important obstacle for developing bearish bias on this section of the chart. Yesterday, in the process of testing the monthly support (1.0611), the daily rebound was executed. Confirming and developing the rebound will direct the corrective rise to the target levels, which are […]
Analyzing Wednesday’s trades: GBP/USD on 1H chart The GBP/USD pair continued to trade sideways on Wednesday. After the price broke out of the 1.25-1.28 sideways channel, the pair suddenly stopped falling. Unfortunately, in this case, the pair may correct higher. We still expect a new downward trend since the pound doesn’t have any solid reasons […]
Analyzing Wednesday’s trades: EUR/USD on 1H chart EUR/USD failed to surpass the level of 1.0618 for the third time and eventually started a bullish correction after last week’s decline. This isn’t exactly predictable since there were hardly any significant macroeconomic or fundamental events yesterday. However, just a day earlier, Federal Reserve Chief Jerome Powell signaled […]
On Wednesday, the US stock market showed a decline, which is associated with investors’ assessment of the Federal Reserve’s actions in managing interest rates and the observation of moderate financial results at the start of the reporting season. The US dollar and Treasury yields weakened, retreating from their highs in months, while gold retreated from […]
EUR/USD Yesterday, the euro was up 0.49%, while the S&P 500 dropped 0.58%, gold fell 1.04%, and yields on US government bonds decreased. Even Israel’s statement about a pending “retaliatory” strike against Iran did not dampen such a risky rise in the euro. We believe that the euro has used up all its strength. The […]
GBP/USD Yesterday, the British pound failed to settle above the level of 1.2427 and rose by 28 pips while the dollar temporarily showed broad weakness. The signal line of the Marlin oscillator has entered the upper half of its own descending channel. Another drop below the support at 1.2427 makes it possible for the price […]
AUD/USD The Australian dollar has recovered its losses from Wednesday and it seems that it will continue to rise towards 0.6480. However, today’s report showed Australian unemployment ticked up to 3.8% from 3.7% in February. The Marlin oscillator has slowed down its upward movement on the daily chart. The price may not reach the target […]
Analysis of GBP/USD 5M GBP/USD continued to trade sideways on Wednesday. Volatility remains weak, and traders took a break after leaving the 4-month sideways channel. The price is currently 80 pips below the channel where it spent almost half a year. Therefore, we still expect the pound to fall, and take note that there has […]
Analysis of EUR/USD 5M EUR/USD traded mostly sideways with low volatility on Wednesday. The low market activity can be attributed to the weak fundamental and macroeconomic background. There were no significant events during the day. Federal Reserve Chairman Jerome Powell gave a speech on Tuesday evening, and he said there’s been a “lack of further […]
The GBP/USD pair shows that it is willing to fight, as it attempts to start a bullish correction. The bulls are not only counting on the greenback’s weakness, but are also relying on the UK inflation report. The fact that inflation did not fall as expected made it possible for the bulls to push the […]
