USDCAD jumps above 1.3700 ahead of BoC rate decision Will the pair breach the neutral triangle pattern too? USDCAD held its footing above the resistance-turned-support trendline drawn from the 2020 peak and bounced back into the 1.3700 area on Tuesday. The latest bullish action shifted the attention back to the 1.3800-1.3860 region ahead of the […]
When the US dollar sharply fell on Monday, without any apparent reason, there were suspicions that it was due to some speculation. Unfortunately, yesterday’s events seem to confirm this. The dollar has sharply strengthened. Even though there was a formal reason for this in the form of good flash PMIs, in reality, all of this […]
Analysis of GBP/USD 5M GBP/USD bounced downwards strongly on Tuesday. While the euro had formal reasons to decline, the pound did not. The UK released four reports, two of which were favorable and two were weak. The main point is that the Services and Manufacturing PMIs did not continue their negative trend, and the unemployment […]
Analysis of transactions and tips for trading GBP/USD Further decline became limited because the first test of 1.2220 coincided with the sharp downward movement of the MACD line from zero. The second test gave a buy signal, but it ended with losses. Very poor figures on activity in the manufacturing and services sectors led to […]
NZDUSD is in the green again today, a tad above a key level Bearish pressure lingers as NZDUSD traded at a 1-year low Momentum indicators could soon turn bullish NZDUSD is edging higher today, recording its third consecutive green candle but trading only a tad above the key 0.5813 level. The bears remain in control […]
Crypto Industry News: Chainalysis, a leading blockchain analytics company, has categorically disagreed with a recent report by the prestigious Wall Street Journal (WSJ) which claimed that the Palestinian terrorist organization Hamas used cryptocurrencies to raise $90 million to attack Israel. American congressmen used “fake news” to narrate the need to tighten the screws on digital […]
Crypto Industry News: This week, the bitcoin price skyrocketed. Reason? The ticker of the iShares exchange-traded fund (IBTC), which was proposed by BlackRock, appeared on the Trust & Clearing Corporation (DTCC) depository exchange. The market took this as an announcement of the creation of a Bitcoin ETF. The problem is that the ticker was removed […]
Technical Market Outlook: The GBP/USD pair had made a new local high at the level of 1.2287,and then reversed lower after the Pin Bar candlestick pattern was made at the top of the move. The intraday technical support is still located at the level of 1.2142 and the intraday technical resistance is located at 1.2336 […]
Technical Market Outlook: The EUR/USD pair has been seen coming off the local high located at the level of 1.0695 after the ABC corrective pattern had been completed. The price broken below the technical support seen at the level of 1.0614 and is heading towards the level of 1.0566. The nearest technical resistance is located […]
Technical outlook: EUR/USD corrected lower through 1.0582 on Tuesday, testing the potential Fibonacci 0.618 retracement and support of the recent upswing between 1.0480 and 1.0694. A bullish bounce is expected from here and push through 1.0750 in the next few trading sessions. The bears might come back in control thereafter. EUR/USD is unfolding a larger-degree […]
EUR/USD Higher Timeframes Testing the attraction and influence zone of the weekly short-term trend (1.0697) resulted in a significant response from the bears. They managed to nullify all the opponent’s achievements from the day before and bring the pair back to the support zone of the daily cross 1.0595-93 (Tenkan + Kijun), which is now […]
The XAU/USD (Gold/US Dollar) chart currently shows a bearish momentum, indicating the potential for a bearish continuation towards the 1st support level at 1947.23. This support level aligns with an overlap support, suggesting it could serve as a substantial area of price support. Additionally, the presence of a 2nd support at 1932.26, identified as a […]
The EUR/USD chart currently displays bullish momentum, with the potential for a bullish continuation towards the 1st resistance level at 1.0680. The 1st support at 1.0492 aligns with a swing low support, indicating a potential area of price support. Additionally, traders are watching the 1.0580 level for downside confirmation, which is identified as an overlap […]
The GBP/USD chart currently shows bearish momentum with potential for a bearish continuation towards the 1st support at 1.2106, which aligns with a multi-swing low support. The 2nd support at 1.2049, also a multi-swing low support, adds to its significance as it coincides with the 127.20% Fibonacci Extension level. On the resistance side, the 1st […]
Based on what appears on its 4 hour chart of USD/CAD commodity currency pairs, we can see that The Loonie is in the middle of ranging Sideways condition. However, by the appearance of the deviation between price movement with Stochastic Oscillator indicator as well as Ascending Broadening Wedge pattern that has detected, USD/CAD has the […]
With the price movement of AUD/JPY cross currency pairs on the 4 hour chart which is above WMA 30 Shift 2 as well as the appearance of the deviation pattern between price movement with Stochastic Oscillator indicator, gives the clue that actually AUD/JPY has the quite significant upward momentum but unfortunately by the appearance of […]
EUR/USD: It seems that the euro has no strength to rise or fall. Yesterday, EUR/USD pared Monday’s gains. As a result, this morning, the euro is below the level of 1.0613 and below the Fibonacci level. The reason for this movement was the weak eurozone PMI and moderately strong data from the US, although the […]
GBP/USD: The British pound, which fell by 87 pips on Tuesday, returned to the week’s opening level and stopped at the nearest line of the price channel. The Marlin oscillator is still in the uptrend territory. It is quite possible (with a 60% chance) that the pound will resume its upward movement from the support […]
USD/JPY: Apart from the ongoing sideways movement (consolidation below the 150.00 level), not much is happening with the yen. The Marlin oscillator is also moving along the zero line. Evidently, Japanese investors are waiting for the results of the upcoming Federal Reserve meeting next week. The ongoing prolonged consolidation may accumulate the potential for a […]
There’s positive movement in the stock market: the Dow, S&P, and Nasdaq indices are confidently moving upward, showing increases of 0.62%, 0.73%, and 0.93%, respectively. Trading Tuesday on Wall Street ended on a high note. Corporate revenues that surpassed forecasts and positive expectations filled investors with optimism, sparking a widespread interest in stocks. The three […]
Analyzing Tuesday’s trades: GBP/USD on 30M chart GBP/USD has drifted sharply lower on Tuesday, much like the EUR/USD pair. There were few reasons for this. There were almost none, to be precise. The UK reports were more neutral than negative, so they could not have triggered such a sharp decline. The unemployment rate fell, but […]
Analyzing Tuesday’s trades: EUR/USD on 30M chart EUR/USD faced strong negative pressure on Tuesday. Yesterday, we mentioned that the euro’s growth was illogical on Monday. There were no significant events or economic releases that could have triggered such an increase. However, from a technical perspective, the rise was absolutely logical, and we were expecting the […]
I haven’t talked about the US or EU economies recently, although, in my opinion, it’s obvious whose economy is stronger. A strong economy is the key to a strong currency. If we look beyond the past year, the US dollar has been strengthening for 16 years already. Against the euro, the dollar started rising from […]
The AUD/USD pair once again tested the support level at 0.6290, which corresponds to the lower Bollinger Bands indicator line on the D1 timeframe. Bears in the AUD/USD pair have been challenging this price barrier for three consecutive weeks, starting from early October. On Monday, sellers attempted to establish themselves below the 0.62 level, but […]
PMIs from Europe, the UK, and the US indicate that the global economy continues to slow down. The HCOB’s flash eurozone Composite Purchasing Managers’ Index fell to 46.5 in October from September’s 47.2, with a negative trend. The UK PMI Composite Output Index came in at 48.6 in October, rising 0.1 points compared to September […]
The USD/CHF pair turned to the upside in the short term and now is located at 0.8934 at the time of writing. From the technical point of view, the price action signaled an oversold situation, but a new leg higher is far from being confirmed. Fundamentally, USD received a helping hand from the US economic […]
Ripple climbed as much as 0.5860 today, registering a new high. Now, the altcoin erased some of today’s gains and now is located at 0.5500 at the time of writing. Bitcoin’s rally forced the altcoin to extend its leg higher. Still, after such an impressive growth, a retreat was natural. In the last 24 hours, […]
AUD/USD: Sellers Still In Game! The AUD/USD pair is trading at 0.6358 at the time of writing. As you can see on the H1 chart, the rate stands right below the downtrend line. As long as it stays below it, the rate could drop again. In the short term, it’s trapped between 0.6375 and 0.6347 […]
Technical market outlook (Bitcoin | BTC/USD) : If Bitcoin can stay above $30 k, it would mark an end to the recent pullback. Last week, Bitcoin fell remain within a framework of correction from the high price of $33 k to the bottom of 27,858 USD. Currently price sets at $32,630. Closing above the Pivot […]
In a weak economy, there can’t be a strong currency. Yes, the U.S. dollar has hit a rough patch; its previous advantages aren’t working anymore. But this is not enough for a significant correction in EUR/USD. The Eurozone must show signs of life, and unfortunately, that is not happening. In October, the composite Purchasing Managers’ […]
