USD/JPY: more declines in cards post-US data

The USD/JPY pair dropped as expected in the short term and now is trading at 133.78. Technically, the price action signaled exhausted buyers and announced a new sell-off. You knew from yesterday’s analysis that the price could develop a strong drop after activating the Rising Wedge pattern. Fundamentally, the Japanese SPPI came in worse than […]

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EUR/USD back in buying zone

The EUR/USD pair crashed in the short term as the DXY rebounded after its amazing drop. Still, the bias remains bullish, the rate could only test and retest the immediate support levels before jumping higher. The greenback registered a strong growth ahead of the US economic data. The New Home Sales, HPI, and S&P/CS Composite-20 […]

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Ichimoku cloud indicator analysis on EURUSD for April 25th, 2023.

EURUSD is under pressure. Price is negative territory, despite making a higher high earlier today relative to yesterday. Price is now at 1.0987 but short-term trend remains bullish according to the Ichimoku cloud indicator. Price remains above the 4 hour Kumo (cloud). Support by the cloud is found at 1.0973-1.0953. As long as price is […]

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Ichimoku cloud indicator analysis on USDJPY for April 25th, 2023.

USDJPY is trading around 133.94. Trend is the Daily chart is neutral as price remains inside the Kumo (cloud). Bulls have made several attempts over the last few days to break above the Kumo (cloud) resistance but all have so far failed. Price continues to trade close and below the upper cloud boundary. The tenkan-sen […]

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Ichimoku cloud indicator analysis on Gold for April 25th, 2023.

Gold price remains in a bearish trend in the 4 hour chart according to the Ichimoku cloud indicator. Price made an attempt to bounce higher but price was unable even to penetrate into the Kumo (cloud). Short-term trend remains bearish. Price is again below both the tenkan-sen and kijun-sen indicators. The Chikou span (black line […]

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Technical analysis on Silver for April 25th, 2023.

Blue lines- bullish channel (broken) Violet lines- Fibonacci retracement levels Silver is trading around $24.65. Price has broken out of the upward sloping channel and is showing reversal signs. So far price has only retraced 23.6% of the entire upward movement. Price is challenging once more the 23.6% Fibonacci level. Price is vulnerable to a […]

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Technical Analysis – Mastercard bears might have a chance to recoup recent losses

Mastercard is hovering around the 373 area today as the market prepares for the key earnings releases. The bulls tried to record a new high for 2023, but the rally halted on April 24 at 377.17, breaking the recent series of higher highs and higher lows. The negative news for the bulls doesn’t stop here as the […]

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GBP/USD. Analysis for April 25, 2023

The wave markup for the pound/dollar pair still needs to be simplified. It does not look like a classic corrective or impulsive trend section. Since the current upward wave exceeded the peak of the last wave b, the entire downward trend section consisting of waves a-b-c can be considered complete. Although it is very weakly […]

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Technical Analysis – EURGBP pokes its nose above 0.8865

EURGBP has been edging north since April 19 when it hit support slightly above the 100-day exponential moving average (EMA). The pair is trading above all three of the plotted EMAs, as well as above the uptrend line drawn from the low of August 3, which paints a positive medium-term picture. Our short-term oscillators make […]

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Technical Analysis– Amazon stock pauses advance at 200-day SMA ahead of earnings

Amazon’s stock has been on a steady uptrend after encountering strong support in mid-March. However, the recent rally has temporarily stalled as the price has been battling with the 200-day simple moving average (SMA) in the last couple of daily sessions. Even though the short-term oscillators reflect a slight loss of positive momentum, near-term risks […]

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EUR/USD. Analysis for April 25. Philip Lane supports a rate hike in May

The wave markup of the 4-hour chart for the euro/dollar pair continues to get tangled due to the latest upward waves, but it has not changed in recent days and weeks. These waves are an independent upward trend section (since the last downward one can be considered a three-wave and completed), and it may also […]

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Euro on thin ice

The calendar for the last five days of April looks quite busy. We have data releases on U.S. and European GDP, German inflation, and the U.S. Personal Consumption Expenditures index, as well as statistics on inflation expectations from the University of Michigan. There is enough data for the EURUSD pair to determine its further direction. […]

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How will this week’s reports affect dollar and gold?

On Thursday and Friday this week, two important U.S. government economic reports will be published, which the Federal Reserve will rely on when making the final decision on interest rates at next week’s FOMC meeting. Starting on Thursday, the Bureau of Economic Analysis (BEA) will release a report on gross domestic product for the first […]

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Technical Analysis – USDCAD adds 2% after bounce off 1.3300

USDCAD added more than 2% over the last eight days, surpassing the short-term simple moving averages (SMAs) to the upside. The pair has been developing within a descending triangle over the last six months with the technical oscillators confirming the latest rebound off the 1.3300 psychological mark. Any move higher could take the pair until […]

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Stagnant ad business and high costs to weigh on Meta earnings – Stock Market News

Facebook’s parent company, Meta Platforms Inc, will report its Q1 financial results on Wednesday, April 26, after Wall Street’s closing bell. The social media behemoth is expected to face another tough quarter due to the significant slowdown in digital advertising demand, while the Metaverse project remains a cash black hole without any expected returns in the […]

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Technical Analysis – Intel back inside the rectangle; bearish tendencies intensify

Intel stock settled yesterday at 29.60, below the 200-day simple moving average (SMA) for the first time since March 29. Actually, the stock has been trading inside a tight 24.63-31.27 rectangle that has formed since September 2, 2022 with the early April upside breakout proving to be a false one. History suggests a retest of […]

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U.S. Dollar Index Outlook for April 25, 2023

Market participants are assessing the macroeconomic data coming from the U.S., trying to predict both the likelihood of a recession in the American economy and the actions of the Federal Reserve under current conditions. The prospects for the dollar are deteriorating, as evidenced by the nearly uninterrupted 7-month decline of its DXY index (CFD #USDX […]

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Trading plan for US dollar index for April 25, 2023

Technical outlook: The US dollar index seems to have carved a higher low around 100.80 on Tuesday. The index is seen to be trading close to 101.00 at this point in writing as the bulls are producing a bullish reversal candlestick pattern. Ideally, prices should stay above the 100.34 lows and push higher towards 102.50 […]

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Dollar: Brief Summary and Near-Term Prospects

The growth attempts made by the dollar last week took a significant hit on Monday. The dollar index (DXY), which had strengthened during yesterday’s Asian trading session, sharply fell again by the end of the trading day, testing the 101.00 mark. During today’s Asian trading session, DXY again declined, updating the local low from April […]

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GBP/USD. April 25th. An eventful Monday for the British currency

On the hourly chart, the GBP/USD pair made a new reversal in favor of the British currency on Monday and consolidated above the corrective level of 100.0% (1.2447). Thus, the growth process may continue toward the next level of 1.2546. Closing below the 1.2447 level will favor the US currency and cause some decline towards […]

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EUR/USD and GBP/USD trading plan for beginners on April 25, 2023

Details of the economic calendar on April 24 On Monday, the macroeconomic calendar was empty in the European Union, the United Kingdom and the United States, which did not provide investors and traders with important statistical data for decision-making in the market. In this regard, they focused on the news flow. And the interview with […]

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Trading plan for EURUSD on April 25, 2023

Technical outlook: EURUSD rallied up to the 1.1066 high intraday on Tuesday, threatening to break above its recent swing high at 1.1076. The single currency pair found strong resistance and reversed lower to 1.1025 thereafter. It is seen to be trading close to 1.1035 at this point in writing as the bears remain poised to […]

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US GDP in focus as Fed prepares to play its final card – Forex News Preview

There is a heavy load of US economic releases coming up this week. The highlight will be the latest GDP report on Thursday, which will help shape market expectations about the trajectory of interest rates as the Fed prepares to roll out the final rate increase of this cycle next week. As for the dollar, […]

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Federal Reserve may soon end its rate hike cycle

The current dynamics of Treasury yields and dollar indicate the imminent end of the Fed’s rate hike cycle. While the stock market is focused on the corporate earnings season, Treasury yields have resumed their decline, signaling increased demand for them. Dollar, meanwhile, has weakened slightly against other major currencies. Looking at previous data, particularly on […]

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Oil buys dip

Everyone forgot about America. For a long time, the oil market lived on news from Russia, where, despite Moscow’s announced production cuts, exports did not decrease. From China, from which investors expected a rapid economic recovery and growth in global demand for oil. From the Middle East, where OPEC+ surprised with unexpected production cuts, and […]

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Trading plan for EUR/USD and GBP/USD on April 25

Markets should have behaved calmly yesterday as the economic calendar was empty. However, euro and pound showed growth after an interview with Isabel Schnabel was released. Schnabel said current data prompts another 50 basis point rate hike from the ECB, fueling demand for euro, and in turn, pound. Now, an attempt to rebound can be […]

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Technical analysis of EUR/USD and GBP/USD on April 25

EUR/USD Larger timeframes Despite consolidation and uncertainty, the bulls have become active again with the opening of a new trading week and are pushing the price up. If the high of the current correction at 1.1076 is updated and the price firmly settles above it, this will open the way to the monthly resistance at […]

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Technical Analysis – AUDUSD slips notably below 200-period SMA

AUDUSD has come under renewed selling pressure, falling back below its 200-period simple moving average (SMA). Despite the latest pullback though, the pair has not posted a fresh lower low, which makes one hesitant to trust further declines for now. Looking at momentum oscillators on the 4-hour chart, they suggest further declines may be on […]

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