We can draw two conclusions following the outcome of the Federal Reserve’s November meeting. The first conclusion is the Fed’s willingness to resort to additional interest rate hikes. The second conclusion is the exact opposite of the first. It boils down to the fact that the Fed views further tightening of monetary policy as a […]
Should we move on? This question, according to Jerome Powell, was raised by the members of the FOMC during the meeting on October 31 – November 1. A rate hike on federal funds after two consecutive pauses is still possible, but progress in combating inflation reduces the chances of resuming the monetary restriction cycle. The […]
Blue lines- Fibonacci retracement levels Yellow line- bearish RSI Divergence Gold price is trading around $1,982. Since October 20th, Gold price is mostly moving sideways. Price made a higher high at $2,008 and a low at $1,962 since the end of October. The 23.6% Fibonacci retracement has not be broken. Price has made no real […]
Red line- resistance Black line -support EURUSD is trading around 1.0620. Price tested yesterday the black upward sloping support trend line. Bulls managed to defend the support at 1.0535 and pushed EURUSD towards the 1.0668 level which was today’s high. EURUSD formed another lower high and is showing rejection signs. There are increased chances that […]
Red lines- bearish channel Blue lines- Fibonacci retracement levels Eurostoxx50 index is trading around 4,185. In our last analysis on this index we mentioned that a double bottom around the 38% Fibonacci retracement support will most probably lead to a bounce towards the upper channel boundary. The Eu50 index is now challenging the bearish channel […]
Orange rectangles- similar pattern expected Green rectangles- overbought levels Red line- support trend line Blue lines- Fibonacci retracement levels Black lines- expected price path Bitcoin is trading around $34,967. Short-term trend remains bullish as price continues making higher highs and higher lows. Bitcoin price earlier today touched the short-term target at the 38% Fibonacci retracement. […]
GBPUSD cannot sustain strength above 1.2200 Short-term outlook remains grim Bank of England holds interest rates and guidance steady The Bank of England’s decision to keep interest rates and its guidance for “higher for longer rates” unchanged on Thursday prevented GBPUSD from breaking out of the bearish channel at 1.2170 or from rising above the broken […]
Share price jumps more than 10%, hits 200-day SMA But formation of doji candlestick raises doubts about new uptrend Starbucks stock shot higher on Thursday, opening with a gap higher, after the company reported much stronger-than-expected earnings results for the third quarter. The jump has taken the price above all the simple moving averages (SMA). However, […]
Early in the American session, EUR/USD was trading around 1.0652 with a bullish bias. Yesterday in the American session, the instrument reached the psychological level of 1.05 and from there, it is bouncing. On the daily chart, we can see that the euro is above the 21 SMA and below the 200 EMA. The daily […]
RBA could announce a 25bps rate hike at its November meeting Hawkish bias could be maintained if quarterly forecasts revised higher Aussie/dollar’s current upleg could pick up speed after RBA meeting The meeting statement will be released on Tuesday at 03:30 GMT RBA ready for action The Reserve Bank of Australia is preparing for its 10th rate-setting meeting for 2023. […]
Bitcoin posts fresh 18-month high on Thursday Fed’s neutral stance boosts risk sentiment Are cryptos reestablishing correlation with traditional assets? Cryptos shine as Fed holds rates unchanged Unlike what has been happening lately, macroeconomic forces were the main drivers behind moves in the cryptocurrency space this week. Specifically, Bitcoin and most altcoins surged after the […]
US 100 gains bullish impetus after bouncing near 200-SMA Short-term bias shows improvement, but uncertainty remains A bullish reversal or a dead cat bounce? The US 100 stock index (cash) picked up steam on Wednesday, extending its bounce off a five-month low of 14,057 to a high of 14,833. The price is currently aiming for […]
The euro and the pound sterling grew after the Federal Reserve made it clear that rising long-term Treasury yields were reducing the incentive for further interest rate hikes this year, even though Chairman Jerome Powell left the door open for a new increase to curb inflation. Altough Powell noted that policymakers might still raise rates […]
XM could not be prouder of the assistance we provided to the Manny Pacquiao Foundation, on September 28. Our donation will go to an extremely noble cause, supporting the Cameleon Association, which specializes in the care and rehabilitation of young girls who have been unfortunate victims of abuse and exploitation. By being provided with counselling […]
US stock index futures are rising, continuing the bullish trend from the previous day. The S&P 500 futures have climbed by 0.3%, while the tech-heavy NASDAQ has leaped by 0.5%. The industrial Dow Jones Index has posted a modest gain of 0.2%. Traders seem convinced that the Fed is nearing the end of its historic […]
Analysis of trades and trading tips for the British pound The initial test of the price at 1.2161 occurred when the MACD indicator was in the overbought area, which clearly limited the further downside potential of the pair. For this reason, I refrained from buying the pound. The second test of this level shortly afterward […]
The test of the price at 1.00606 occurred at a moment when the MACD indicator was just beginning its upward movement from the zero mark. This confirmed the correct entry point for buying the euro. As a result, the pair rose by more than 30 points. In the second half of the day, we can […]
In my morning forecast, I pointed out the level of 1.2161 and recommended making entry decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The drop and the formation of a false breakout at this level led to an excellent entry point for long positions, resulting in […]
In my morning forecast, I drew attention to the level of 1.0604 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The upward movement and the formation of a false breakout at this level resulted in a selling signal against the bullish trend. […]
The EUR/USD pair fell to the level of 1.0524 on Wednesday, which it had previously tested twice, bounced from it, and reversed in favor of the European currency. The upward movement toward the corrective level of 23.6% (1.0644) has started, but this process can end at any moment. The current chart pattern is very ambiguous, […]
On the hourly chart, the GBP/USD pair experienced a drop to the level of 1.2106 yesterday, bounced off it, and reversed in favor of the British pound, rising towards the previous peak, which is just above the level of 1.2175. Thus, the upward momentum can continue towards the next corrective level of 161.8% (1.2250). However, […]
Let’s take a look at the technical picture of GBP/USD, USD/JPY and SP500 ahead of BoE interest rate decision. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly forecast based on simplified wave analysis of… April 8, 2024 GBP/USDAnalysis:Since July last year, the main direction of price movement…Weekly forecast based on simplified […]
The test of the 151.13 price level occurred when the MACD indicator had just started moving down from the zero mark, confirming the correct entry point for selling the pair. As a result, USD/JPY dropped by 40 points. The decision of the Federal Reserve put additional pressure on the dollar, so this time, the Bank […]
The GBP/USD currency pair traded in the same mode on Wednesday. If you carefully examine the 4-hour timeframe, it’s evident that the pair has been forming a “narrowing triangle” in recent months. The lower boundary is the range of 1.2054–1.2085, and the upper boundary is the descending trendline. The pair’s trading range is gradually narrowing, […]
GBPAUD erases latest rebound ahead of BoE rate decision Bearish bias strengthens; focus turns on 200-day SMA GBPAUD surrendered all its October gains following the rejection near its 50-day simple moving average (SMA), and is currently flirting with September’s low of 1.8856. The 200-day simple moving average (SMA) is also in sight at 1.8795, as […]
Yesterday, the pair formed several entry signals. Let’s have a look at what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.2161 as a possible entry point. A rise to this level and its false breakout generated a good entry point into short positions, leading to a slump of […]
The currency pair EUR/USD once again did not show any interesting movements on Wednesday. The pair has once again crossed the moving average line, but as mentioned earlier, the current nature of movement allows it to cross the moving average line almost every day. It seems like we’re not dealing with a classic flat, but […]
Powell signals Fed is likely done hiking rates, sparking relief rally Wall Street cheers Powell’s balanced tone, but dollar stays resilient as yields tumble Pound steady ahead of Bank of England decision Fed asks “should we hike more” The Federal Reserve left interest rates unchanged on Wednesday as expected, citing tighter financial conditions as a […]
Gold pulls back to rest near 1,985 key zone Daily oscillators detect slowing upside momentum A break lower could signal the metal’s return within a broader range Gold has been in a retreat mode since October 30, after hitting resistance near the 2,010 zone. The metal has seen massive gains due to concerns surrounding the […]
Potential breakout mode on the Gold… 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 April 12 […]
