Weekly Forex Outlook: 17/11/2023 – Fed minutes and Eurozone PMIs on the menu

Fed minutes on Tuesday will be scrutinized for clues on rate path. Eurozone business surveys to shed some light on recession risks. Japanese inflation stats also in focus as yen remains fragile. 0:00 Intro 0:09 FOMC Minutes 1:48 US Dollar 3:24 EZ and UK PMIs 4:51 ECB Minutes For more information on the topics discussed […]

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Weekly Technical Outlook: 13/11/2023 – EURUSD, GBPUSD, AUDUSD

– EURUSD stays above key barrier of 1.0665 ahead of US CPIs – Hotter-than-expected UK inflation could push GBPUSD above 1.2310 – AUDUSD awaits Australia’s jobs report and Chinese data 0:00 Intro 0:43 EURUSD 3:21 GBPUSD 5:24 AUDUSD For more information on the topics discussed in this video, including detailed charts and tables, read the […]

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Weekly Forex Outlook: 10/11/2023 – US and UK inflation data to take center stage

US inflation numbers the next event to shake Fed bets. Pound traders lock gaze on CPIs after BoE’s hawkish hold. Aussie awaits jobs report and Chinese data. 0:00 Intro 0:20 US CPIs and dollar 2:35 UK data and pound 4:19 Aussie and Chinese data For more information on the topics discussed in this video, including […]

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Analysis and trading tips for USD/JPY on November 8

Analysis of transactions and tips for trading USD/JPY Further growth became limited because the test of 150.53 coincided with the sharp rise of the MACD line from zero. Shortly after, another test took place, but sales could not be done because of the lack of overbought conditions for the pair. No other market signal appeared […]

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Trading plan for EUR/USD for November 08, 2023

Technical outlook: EUR/USD is pulling back after hitting the 1.0755-60 potential resistance defined earlier. The single currency pair found initial support around the 1.0680 mark as projected and we can expect an intraday bounce towards 1.0725 at least before bears are back in control. Also, note that 1.0680 is the Fibonacci 0.382 retracement of the […]

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EUR/USD and GBP/USD: Technical analysis for November 8

EUR/USD Higher Timeframes Bears continued the decline yesterday and tested the area of influence of the lower boundary of the daily cloud, but they couldn’t hold onto the achieved levels. Today, the situation remains within the limits, with the boundaries being 1.0733 – 1.0766 (weekly levels) and 1.0638 – 1.0614 (daily levels + weekly short-term […]

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Forecast for EUR/USD on November 8, 2023

EUR/USD On Tuesday, the euro continued to face pressure from Monday, even slightly more so due to the decline in commodity prices (crude oil down 2.1%) and as U.S. Treasury yields fell. German industrial production dropped in September by 1.4% compared with the previous month (-3.86% YoY), which fueled concerns about a European recession. Now […]

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Forecast for GBP/USD on November 8, 2023

GBP/USD Yesterday’s decline was supported by the 1.2271/1.2287 range and the balance indicator line on the daily chart. This morning, the price is staying within this range, and if it settles below it, the target will be 1.2130, which is the nearest line in the price channel. If the price manages to settle above the […]

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Forecast for AUD/USD on November 8, 2023

AUD/USD The Australian dollar, which showed strong movement on Tuesday, tested the support of the MACD indicator line on the daily chart. Thanks to the rebound from this support, the price maintains its potential for growth. The Marlin oscillator is progressing in an uptrend. A likely target is 0.6514. If the price surpasses this mark, […]

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Key events on November 8: fundamental analysis for beginners

Analysis of macroeconomic reports: There are hardly any macroeconomic events on Wednesday, and none of them hold any importance. What can traders pay attention to? Perhaps the inflation data for Germany? This will be the second estimate of the report for October, which is unlikely to differ from the first… Retail sales in the European […]

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Trading plan for GBP/USD on November 8. Simple tips for beginners

Analyzing Tuesday’s trades: GBP/USD on 30M chart GBP/USD continued its downward movement on Tuesday, which had started the previous day. The pound did not have any fundamental or macroeconomic reason to fall. There were no significant reports released in either the U.S. or the UK. However, it’s important to remember that strong movements are often […]

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Trading plan for EUR/USD on November 8. Simple tips for beginners

Analyzing Tuesday’s trades: EUR/USD on 30M chart On Tuesday, EUR/USD continued its downward movement, which began on Monday, and by the end of the day, it was near the level of 1.0673. The pair couldn’t surpass this mark, and overall, volatility was 56 pips. Again, this is a very small value that doesn’t offer good […]

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USD/JPY. Where does the red line lie?

The USD/JPY pair is once again testing the 150.00 level amid a stronger US dollar. This is far from the first attempt to breach this elusive price barrier, which plays a big role. Traders find themselves caught between a rock and a hard place. On one hand, there are no other options for USD/JPY bulls […]

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RBA raises rates, dollar tries to regain initiative. Review of USD, NZD, AUD

After witnessing significant market movements in stocks and bonds last week, the start of this week has been relatively calm. The yield on 10-year US Treasury bonds became steady after retreating from the psychological level of 5%. The dollar is trying to regain the initiative, which may prove challenging given the unexpectedly weak economic reports […]

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Technical analysis on GBP/USD on November 07, 2023

The pair is expected to drop higher towards at least 1.2460 with a view to test the daily pivot point. The level of 1.2543 will act as strong resistance and the double top is already set at the point of 1.2543. On the other hand, if a breakout happens at the support level of 1.2205, […]

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Technical analysis on EUR/USD on November 07, 2023

Overview : A trend in 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 1.0636 and 1.0780. Resistance and support are seen at the levels of 1.0780 (also, the double top […]

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November 7, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

The GBP/USD pair faced a strong resistance near 1.3200 and started a fresh downtrend. It broke the 1.2800 then 1.2600 support levels on a H4 candlestick and extended its decline towards 1.2500 where the pair showed some indecision in a tight range before resuming its bearish trend. The next target for the bears was located […]

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November 7, 2023 : EUR/USD Intraday technical analysis and trading plan.

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 […]

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November 7, 2023 : Analyzing Recent Trends and Trading Opportunities in EUR/USD: A Technical Analysis Perspective.

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 […]

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Oil dives into the abyss

Neither Israel’s invasion of Gaza, nor the increase in Chinese oil imports, nor the extension of production and export reduction commitments by Saudi Arabia and Russia have frightened the Brent bears. The quotes of the North Sea grade plummeted to their lowest level since the end of August against the backdrop of decreasing premiums for […]

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Euro breaks the rules

The market is testing the Federal Reserve’s resilience for the fifth time in the current cycle of monetary policy tightening. The four previous attempts, when the decline in Treasury yields indicated a dovish pivot, turned out to be failures. However, if the Fed does make a mistake regarding the unfinished fight against inflation, there’s an […]

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Technical Analysis – USDJPY bulls test Japanese authorities’ resolve again

USDJPY edges higher again today, back above 150.15 Increased pressure on Japanese authorities to intervene Mixed momentum indicators complicate the outlook USDJPY is higher again today after bouncing off the lower boundary of the ascending trending channel that has been in place since mid-March. The announcements at last week’s Bank of Japan meeting have done little […]

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Technical analysis on Bitcoin for November 7th, 2023.

Blue lines- Fibonacci retracement levels Red line- support trend line Orange rectangles- potential repetition of past action Green rectangles- overbought RSI levels combined with price top Bitcoin is trading around $34,775. Short-term trend remains bullish as price continues making higher highs and higher lows. The RSI has reached overbought levels and is forming bearish divergence […]

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Technical analysis on Nasdaq for November 7th, 2023.

Red line- resistance Blue lines- Fibonacci retracement levels NASDAQ is found at a very crucial price level where bulls challenge the red downward sloping resistance trend line. The trend line provides resistance at 15,185 and a daily close above this level would be a positive sign. Price has already retraced almost 38% of the entire […]

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Technical analysis on Gold for November 7th, 2023.

Blue lines- Fibonacci retracement levels Gold is under pressure for a second day in a row. Price has just slipped below the 23.6% Fibonacci retracement as expected. In previous posts we noted that Gold price is vulnerable to a move lower. The RSI is turning lower from overbought levels. Next downside target is at $1,930 […]

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