Last week, Federal Reserve Chair Jerome Powell spoke at the Economic Club of New York, with the key theme of his speech being that the FOMC is “proceeding carefully”. The markets inferred from his speech that the expected rate hike in November likely won’t happen and, there’s a good chance that it may not happen […]
Analysis of Monday trades: EUR/USD 1H chart The EUR/USD currency pair experienced a sharp and unexpected surge during Monday’s trading session. There were no significant events or economic releases scheduled for the first trading day of the week. Mondays are often characterized by lower volatility and a lack of clear trend movements, making them somewhat […]
Overview : The market opened below the weekly pivot point (1.2354). It continued to move downwards from the level of 1.2354 to the bottom around 1.2235. But, the trend rebounded from the bottom of 1.2253 to set around the area of 1.2290. The first resistance level is seen at 1.2354 followed by 1.2390, while daily […]
Weekly review on EUR/USD for October 23-27: The EUR/USD pair was argumentative as it was trading in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still moving between the levels of 1.0534 and 1.0780. Resistance and support are seen at the levels of 1.0780 (also, the […]
Bitcoin Cash is trading in the green at 247.86 at the time of writing. The bias is bullish in the short term, so further growth is natural. Bitcoin’s rally helped the altcoin to jump higher as well. BCH/USD increased by 23.35% from 206.50 October’s low to yesterday’s high of 254.71. In the short term, temporary […]
NZD/USD Upside Reversal! The NZD/USD pair is located at 0.5849 at the time of writing. As you can see on the H1 chart, the rate dropped within a down channel. Its failure to reach and retest the downside line signaled exhausted sellers. Now, it has passed above the downtrend line indicating that the downtrend could […]
The USD/JPY pair is trading in the red at 149.70 at the time of writing and it seems very heavy in the short term as the Dollar Index crashed, while the Japanese Yen Futures bounced back. The price action signaled exhausted buyers and announced a potential correction. Fundamentally, the Japanese BOJ Core CPI may report […]
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 […]
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 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 […]
The EUR/USD pair rallied in the last hours and it seems determined to approach and reach new highs. The USD lost significant ground versus its rivals as the Dollar Index crashed. The currency pair is located at 1.0642 at the time of writing. You knew from my previous analysis that the price could extend its […]
The wave analysis of the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we have seen only three wave structures that continuously alternate with each other. For the last few months, I have regularly mentioned that I expect the pair to approach the 1.5 figure, where the construction of the […]
Early in the American session, EUR/USD is trading around 1.0613 below the 21 SMA and within a symmetrical triangle pattern. In the last few hours, the euro has been bouncing above the 21 SMA (1.0573) but showing exhaustion. The interest rate decision from the European Central Bank (ECB) will be published on Thursday and no […]
Australia’s headline inflation rate probably fell in Q3 But monthly print might be more important after August uptick Can the aussie withstand a selloff from Wednesday’s data (0:30 GMT)? Recent RBA decisions have been a close call The Reserve Bank of Australia’s last few policy decisions have been a close call, but policymakers have nevertheless […]
GBPUSD edges higher today but continues to respect the July 14, 2023 trendline It has been exhibiting lower volatility lately, partly due to busy calendar ahead Momentum indicators could turn more bearish soon GBPUSD is trading higher today and it has been spending its last few sessions in the 1.1957-1.2287 region, respecting the July 14, […]
In my morning forecast, I drew attention to the level of 1.2180 and recommended using it as a reference point for market entry decisions. Let’s examine the 5-minute chart and see what transpired. The rise and the formation of a false breakout at this level provided an excellent selling point, resulting in a drop of […]
USDJPY is trading very close to 150. In Ichimoku cloud terms trend remains bullish as price is clearly well above the Kumo (cloud) without providing any sign of weakness. Price continues to trade above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Both provide support at 149.22 and 148.75 respectively. The […]
Black line- horizontal resistance Blue line- horizontal support Bitcoin is trading once again above $30,000 price level. Short-term trend is bullish after the bounce off the blue horizontal support line at $24,750. Bitcoin bulls are now challenging the black horizontal resistance line around $32,100. Bitcoin price has made no real progress over the last 7 […]
Red lines- bearish channel Black line- support trend line Green lines- Fibonacci extension targets EURUSD is trading around 1.0610. Price has broken above the downward sloping channel providing a sign of strength. Price continues making higher highs and higher lows after the recent low at 1.0496. EURUSD continues to respect the black upward sloping support […]
Having reached a local low at 1.2090 at the end of last week (since October 5th), the GBP/USD pair subsequently corrected by 80 pips, reaching an important short-term resistance level at 1.2170 (200 EMA on the 1-hour chart). At the beginning of today’s European trading session, the price attempted to break above this resistance level, […]
Blue lines – Bullish channel Black line- bearish RSI divergence Gold price is trading around $1,976 today, slightly lower from Friday’s close. Price remains in a short-term bullish trend as price continues making higher highs and higher lows inside the blue upward sloping channel. In the 4 hour chart we observe the RSI has provided […]
Bitcoin is starting the second trading week on a bullish note, testing the $31k level. The previous week was also favorable for the cryptocurrency, with the exception of some consolidation on Tuesday and Wednesday. During that time, macroeconomic factors and relative geopolitical stability positively influenced the cryptocurrency’s upward movement. Given the continued positive momentum over […]
· EUR/USD in neutral zone ahead of ECB policy announcement · USD/CAD needs more upside as BoC rate decision looms · USDJPY at a critical resistance territory; bunch of US data due 0:00 Intro 0:32 EUR/USD 3:03 USD/CAD 5:52 USD/JPY For more information on the topics discussed in this video, including detailed charts and tables, […]
Microsoft earnings to be released after market close on October 24 Both earnings and revenue expected to jump on an annual basis Valuation remains stretched against its tech peers Solid performance driven by AI initiatives Microsoft has fared relatively well in 2023 amid a broader tech rally driven by the Artificial Intelligence (AI) hype. The second most […]
EUR/USD in neutral zone ahead of ECB policy announcement USD/CAD needs more upside as BoC rate decision looms USDJPY at a critical resistance territory; bunch of US data due ECB policy meeting –> EUR/USD EURUSD is stuck in a sideways trend above its 10-month low, but there is hope for a bullish reversal as […]
The new trading week started relatively calm for the EUR/USD pair. During the Asian session on Monday, the dollar slightly strengthened, but only symbolically: during the European session, the pair not only returned to the opening level but also tested the 1.06 level. Overall, the market is quiet—a calm before the storm. The main events […]
In my morning forecast, I emphasized the level of 1.0603 and recommended making market entry decisions based on it. Let’s look at the 5-minute chart and analyze what happened there. The rise and the formation of a false breakout at 1.0603 signaled selling the euro. However, at the time of writing this article, there hasn’t […]
USD/CAD continues to rise, as economic data from Canada show weakness. Reportedly, retail sales in August dropped by 0.1% compared to July, and will likely remain at the same level in September, indicating a slowdown in the domestic economy. This reinforces the expectations that the Bank of Canada will leave the interest rate unchanged, a […]
On Thursday, the EUR/USD pair secured itself above the inconsequential retracement level of 161.8% (1.0561). However, on Friday, it couldn’t continue the upward movement towards the level of 1.0637. A rebound today from the level of 1.0561 will again make us anticipate some growth towards 1.0637. But I would like to remind you that the […]
Gold rose in price amid the ongoing conflict in the Middle East. The latest weekly gold review indicated the very optimistic view of retail investors, contrary to that of market analysts who expect a pullback after a sharp two-week surge. Ole Hansen, Head of Commodity Strategy at Saxo Bank, said prices will likely consolidate this […]
