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 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 […]
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 price of gold continues to stay higher even if the price action signaled exhausted buyers. It’s located at 1,983 at the time of writing, below today’s high of 1,993. The bias remains bullish, but an upside continuation needs confirmation. Also, despite exhaustion signs, a correction is far from being confirmed. Fundamentally, the ECB maintained […]
For the GBP/USD pair, the wave count remains quite simple and clear. The construction of a new bearish trend section continues, the first wave of which has taken on a fairly extended form. In my opinion, the pound has no reason to resume the bullish trend section, so I don’t even consider such a scenario. […]
The USD/CHF pair is trading in the green at 0.8995 and it seems determined to approach and reach new highs. You knew from my previous analysis that the price could develop a larger growth after taking out the immediate resistance levels. Fundamentally, the USD received strong support from the US economy today. The Advance GDP […]
The wave analysis on the 4-hour chart for the euro/dollar instrument remains quite clear. Over the past year, we have observed only three wave structures, which constantly alternate with each other. In recent months, I have consistently stated that I expect the instrument to reach around the 1.5 figure, from which the construction of the […]
Early in the American session, gold (XAU/USD) is trading around 1,978.66, above the 21 SMA, and within an uptrend channel formed since October 20. Gold has formed a double top between the highs of October 20 at 1,997 and on October 26 at 1,994. Trading below the 8/8 Murray, the instrument could fall to the […]
“Buy the rumor, sell the fact.” Over the past three days, EUR/USD quotes have been declining, reflecting expectations of the U.S. economy accelerating more than twice in the third quarter compared to the second and forecasts for the deposit rate to remain at 4%. When the ECB actually paused and the U.S. GDP expanded even […]
USDJPY unlocks new one-year high Another positive close could confirm bullish formation USDJPY has been moving back and forth around the 150 round level, hitting a high of 150.76 and a low of 149.84 throughout the day. The upbeat US Q3 GDP report did not excite the bulls, but hopes for a continuation higher have not […]
The euro dipped upon receiving news that the European Central Bank has concluded its streak of interest rate hikes in spite of looming inflationary risks. These risks stem from surging oil market asset prices and the ongoing conflict between Israel and HAMAS. It was revealed that the benchmark rate remains fixed at 4.5% after a […]
AMD stock has generated a structure of lower highs and lower lows Its close below the 200-day SMA deteriorates the outlook Momentum indicators aggressively tilted to the bearish side AMD’s stock has been forming a bearish technical pattern following its 2023 peak of 131.90 on June 13. In the previous daily session, the price closed […]
In an unexpected turn, the U.S. economy in the third quarter displayed a resilience that outstripped most projections, fueled predominantly by buoyant consumer demand. This bullish trend emerged even as analysts pointed to heightened interest rates, surging inflation, and a myriad of internal challenges that could have potentially weighed down growth metrics. A report by […]
Let’s take a look at the technical picture of GBP/USD, EUR/USD, USD/JPY and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forecast of GBP/USD pair on May 24, 2024 May 24, 2024 On the hourly chart, the GBP/USD pair reversed in favor…Weekly Forex Outlook: 24/05/2024 – US PCE inflation and… May 24, […]
US stock futures opened lower following the release of several corporate reports from major American companies. S&P 500 futures dropped 0.8%, while the tech-heavy NASDAQ plummeted by 1.0%. Meta Platforms Inc., the parent company of Facebook, saw its shares fall by 4% in premarket trading due to poor performance and concerns about the uncertain economic […]
In my morning forecast, I paid attention to the level of 1.2070 and recommended making decisions on the market entry with this level in focus. Let’s look at a 5-minute chart and figure out what happened there. The price decrease and a false breakout at this level created an excellent entry point for long positions. […]
CHF/JPY Overbought! The CHF/JPY pair is located at 167.50 at the time of writing. As you can see on the H1 chart, the rate moves somehow sideways. It has changed little, that’s why we need confirmation before taking action again. Technically, the price dropped below the uptrend line, signalling exhausted buyers and an overbought market. […]
Despite investors’ concerns about currency interventions by the Bank of Japan, yesterday, the USD/JPY pair finally broke through the psychologically significant level of 150.00, and at the beginning of today’s European trading session, it briefly exceeded the 150.70 mark. However, it then sharply declined below the 149.90 level. The intraday volatility was 96 points. Economists […]
USD/CHF New Uptrend! The USD/CHF pair is located at 0.8980 at the time of writing, below today’s high of 0.8996. As you can see on the H1 chart, the rate jumped above the downtrend line signaling that the downtrend ended and that we may have a reversal. Personally, I’ve drawn an uptrend line which represents […]
For a third day in a row EURUSD is under pressure. Price has broken below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Trend remains bearish and price vulnerable to a deeper decline. Bulls made an attempt to push price above the tenkan-sen and kijun-sen indicators but failed to defend 1.06-1.0590. What […]
Gold price is trading around $1,986. Short-term trend remains bullish as price is supported and remains above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Price is well above the Kumo (cloud) which is our main criteria. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). The tenkan-sen […]
Red lines- bullish channel Blue lines- Fibonacci retracement levels Nasdaq is trading around 14,240. Price recently broke to new lower lows below the 23.6% Fibonacci retracement. As was expected by our previous posts, Nasdaq index is moving lower towards the key Fibonacci 38% retracement level at 13,945. Since the break out of the bullish channel […]
Red lines- bearish RSI divergence blue line- support trend line Black line- resistance trend line Blue rectangle- short-term target USDJPY is trading around 150.40. Short-term trend remains bullish. Price yesterday broke above the black resistance trend line while at the same time respects the blue upward sloping support trend line. USDJPY is approaching our 151.50-152 […]
Analysis of transactions and trading tips on GBP/USD Further growth became limited because the test of 1.2088 coincided with the strong upward movement of the MACD line from zero. During the US session, GDP data for the 3rd quarter will come out, along with the reports on jobless claims and orders for durable goods. FOMC […]
AMD will release its quarterly earnings on Tuesday, October 31 Earnings growth expected to turn positive, after sharp declines Valuation is slightly stretched, but shares seem attractive overall AMD enters the AI wars The artificial intelligence (AI) revolution has taken the semiconductor industry by storm, generating an enormous amount of demand for advanced chips that […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0538, which occurred earlier in the day, coincided with the downward movement of the MACD line from zero, leading to a signal to sell. However, as of the time of writing this article, a sharp price decrease has not yet occurred. Most likely, everything […]
The greenback began the week on a weak note. On Monday, the dollar fell by about 0.5%. During the start of the European session on Tuesday, it dipped to monthly lows around 105.30. However, later, it recouped its early losses and ended the trading session with a rise of almost 0.7% to around 106.20. On […]
In the previous forecast, I drew your attention to the level of 1.0528 and recommended entering the market from it. Looking at the 5-minute chart, the euro/dollar pair did decline in the morning, almost testing 1.0528. The absence of significant data and the European Central Bank’s (ECB) anticipated interest rate decision impacted the pair’s volatility […]
The USD/JPY pair has been testing the 150 level for the second day in a row, despite the risks of currency intervention by the Japanese government. USD/JPY traders have been besieging the key resistance level of 150.00 for over three weeks (since the beginning of October) but have hesitated to conquer new price territories. However, […]
The Bitcoin bull rally above the $34k level continues despite the gradual formation of a local resistance zone. The bulls continue to push the price of the asset above $34k, leading to the formation of a support zone near the psychological mark of $34k. Over the past two days, buyers managed to consolidate above the […]
