Trading plan for GBP/USD on April 25: analysis of trades and simple tips for beginners

Analysis of Monday’s trades GBP/USD 30M Chart On Monday, the GBP/USD currency pair also attempted to resume its upward movement, but it fared worse than the euro. The pound lacked momentum to take any definite direction on Monday, so it had no other choice than moving sideways. The euro was influenced by Wunsch’s speech at […]

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USD/JPY: rising wedge under development

The USD/JPY pair turned to the downside in the short term. It’s traded at 134.39 at writing and it has developed a potential downside reversal pattern. Still, it’s premature to talk about a downside movement as the bias remains bullish. Tomorrow, the fundamentals could move the rate. Japan is to release the SPPI and the […]

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Ichimoku cloud indicator analysis on Gold for April 24th, 2023.

Gold price is trading around $1,980. According to the Ichimoku cloud indicator trend in the 4 hour chart is bearish. Price is trading below the Kumo (cloud). The tenkan-sen (Red line indicator) is below the kijun-sen (yellow line indicator) and both are negatively sloped. The Chikou span (black line indicator) is also below the candlestick […]

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Ichimoku cloud indicator analysis on EURUSD for April 24th, 2023.

EURUSD is trading at new short-term highs as price has broken above the 4 hour Kumo (cloud). Price action above the cloud resistance has provided us with a new short-term bullish signal. Short-term trend remains bullish. Price briefly broke below the 4 hour Kumo but never closed the candlestick below it. The tenkan-sen (red line […]

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Technical analysis on USDJPY for April 24th, 2023.

Red lines- Fibonacci extension targets USDJPY is trading around 134.40. The week has started positively for USDJPY as price is trading above Friday’s levels. Short-term trend remains bullish as price continues making higher highs and higher lows. The recent low of 132 is key short-term support. As long as we trade above this level we […]

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Technical analysis on Bitcoin for April 24th, 2023.

Blue lines- bearish RSI divergence Bitcoin is trading around $27,300. Bitcoin is showing reversal signs and as we explained in our previous posts, price is vulnerable to a pull back towards $25,000. Bitcoin’s up trend has shown weakening signs with the bearish RSI divergence. The chances for a pull back have increased. Although price could […]

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NZD/USD: upside reversal pattern in play

The NZD/USD pair changed little in the short term. It’s trading at 0.6150 at the time of writing. It moves sideways, so we have to wait for the rate to escape from this pattern before going long or short. The currency pair failed to extend its sell-off even if the US services and manufacturing data […]

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CAD/JPY: flag pattern

The CAD/JPY pair rebounded in the short term but the rally seems over. After its massive drop, a bounce back was natural. The rate came back to attract more bearish pressure before reaching new lows. Fundamentally, the NHPI rose by 0.0% versus the 0.1% growth estimated. Tomorrow, the Japanese SPPI is expected to register a […]

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Technical Analysis – GBPUSD has bullish potential despite muted trading

GBPUSD cannot find enough buyers to reclaim the December-January ceiling of 1.2445 following the pullback from April’s border of 1.2520. The pair has been squeezed over the past couple of days, opening and closing near the 1.2445 barrier during the previous muted sessions. Yet, the ascending trendline drawn from the March lows, which seems to be […]

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Technical Analysis – A Boeing breakout is potentially around the corner

Boeing is edging lower today as the market seems to be settling inside a symmetrical triangle. This is a very common pattern in technical analysis with a rather low market performance when confirmed. However, theory states that usually the breakout follows the underlying medium-term trend, which in our case is bullish and has been since the double-bottom pattern formed […]

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GBP/USD at resistance. What now?

The GBP/USD pair moves sideways in the short term, that’s why we have to wait for fresh opportunities before taking action. It’s trading at 1.2441 at the time of writing. The bias remains bullish as the DXY remains under strong downside pressure. Surprisingly or not, the currency pair increased even if the UK Retail Sales […]

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Technical Analysis – EURCHF bears’ resolve is about to be tested

EURCHF is hovering around the 0.9790 area, having recorded a good move since the March 31 high of 0.9989. It is trading well inside the wide 0.9741-1.0006 rectangle that has dominated price action since October 13, 2022, but EURCHF is closing in on the lower boundary for this structure. EUR bears may enjoy another bearish […]

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NZDUSD, H4 | Bounce off from 1st support?

The NZD/USD chart currently exhibits a bullish trend, indicating that the price may potentially continue its upward momentum. As such, it is anticipated that the price may potentially bounce off the first support level at 0.6133 and head towards the first resistance level at 0.6214. The first support level at 0.6133 is considered a strong […]

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GBPUSD, H4 | Falling to 1st support?

he GBP/USD chart currently indicates a bullish overall momentum, suggesting that the price may potentially continue its upward trend towards the first resistance level. The first support level is located at 1.2346 and is considered a strong level of potential support for the price. This level is an overlap support and coincides with the 23.60% […]

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USDCHF, H4 | Strong descending Trendline?

Currently, the USD/CHF chart exhibits bearish characteristics with the price situated below a significant descending trend line, indicating the potential continuation of bearish momentum. It is anticipated that the price may potentially decline towards the first support level at 0.8869, which is a multi-swing low support level and a key area of buying interest. Additionally, […]

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April 24, 2023 : Analyzing Recent Trends and Trading Opportunities in EUR/USD: A Technical Analysis Perspective.

After ascending towards the 1.1500 price zone, the EUR/USD pair encountered significant selling pressure, resulting in declines to levels of 1.0850, 1.0400, 1.0000, and most recently, 0.9600. The market experienced buying pressure until it reached a plateau around 1.0800-1.0850, followed by notable selling pressure that led to a recent decline in prices. The price level […]

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April 24, 2023 : EUR/USD Intraday technical analysis and trading plan.

The EUR/USD pair has recently revisited levels around 0.9600, which were last seen in 2002, resulting in a significant bullish recovery, particularly around this crucial support level. Despite the nearest supply level at 1.0100 not exerting sufficient bearish pressure, there was intensive bullish price action observed around the lower boundary of the depicted movement channel. […]

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April 24, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

A bullish trend emerged in the market between levels 1.0400-1.0600, which acted as a barrier against further decline. Bulls continued to defend the rising bottoms at 1.1150 and 1.1750, signaling an expected continuation of the bullish trend above 1.1750. At 1.2340, an initial rejection by bears was observed, followed by a subsequent bounce in favor […]

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Markets will consolidate ahead of the Fed meeting

World stock markets ended the week with mixed dynamics, heavily influenced by corporate earnings releases. This clearly shows that the recent rate hikes have led to a slowdown in national economies and, as a result, prompted cautious actions from investors over the purchase of company stocks. Interestingly, despite the existing uncertainty, markets are ending the […]

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Bitcoin proves reliability

The Bitcoin rally in 2023 is impressive. The cryptocurrency held up well during a suitable time for investors when a banking crisis occurred in March. This situation gave Bitcoin particular importance as a safe-haven asset. The data confirms that Bitcoin was remarkably stable when Silicon Valley Bank (SVB) and other companies faltered in March. And […]

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Fading bullish sentiment in gold

Ahead of the weekend, gold’s drop below $2,000 per ounce undermined short-term bullish sentiment. However, due to such uncertainty regarding financial markets, few analysts and retail investors expect significant sell-offs of the yellow metal in the near future. The threat of inflation in the economy as a whole, and better-than-expected U.S. economic data have caused […]

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Weekly Technical Analysis – USDJPY, EURUSD, Dollar index

This week the focus of attention will be on the Bank of Japan interest rate decision and the Eurozone flash GDP data as well as on the US Core PCE index. So, the highlight will be how USDJPY, EURUSD and Dollar index may react. BoJ decision → USDJPY If Ueda maintains the status quo on […]

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Technical Analysis – US 500 index pulls back after advance pauses

The US 500 stock index (cash) has been on a steady uptrend since mid-March, slicing through both its 50 and 200-day simple moving averages (SMAs). However, this recent rebound faltered just shy of the 2023 peak of 4,195, with the price experiencing a moderate downside correction. The short-term oscillators are reflecting this loss of positive […]

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EUR/USD. April 24. Horizontal movement in all its glory

On Friday, the EUR/USD pair continued its horizontal movement. Closer to the end of the day, the pair’s quotes reached the 1.1000 level, but there was no rebound and no close above it either. There were no signals on Friday, and traders’ activity was zero. Consolidation of the pair’s rate above the 1.1000 level will […]

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EUR/USD and GBP/USD trading plan for beginners on April 24, 2023

Details of the economic calendar on April 21 UK retail sales data showed a slowdown in the rate of decline from -3.3% to -3.1%. The actual data matched the forecast. The main event on Friday was the publication of business activity indices in Europe, the United Kingdom, and the United States. According to the PMI […]

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GBP/USD: Pound did not gain support from fundamental factors

If the market doesn’t go where it is expected to be seen, the chances of it moving in the opposite direction increase sharply. The pound had enough data to restore the upward trend against the U.S. dollar, yet it did not took advantage of it. As a result, the GBPUSD pair continues to be stuck […]

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GBP/USD. April 24. The British currency can’t break through the 1.2450 level

On the hourly chart, on Friday, the GBP/USD pair completed growth to the corrective level of 100.0% (1.2447), a rebound from it, and a reversal in favor of the US currency. Thus, a new decline process began towards the 1.2342 level, which is unlikely to be reached. Horizontal movement is now observed in the British […]

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Fed members see further increase in interest rates

Fed representatives have been consistently saying that interest rates should increase further. The CME FedWatch tool said there is 85.7% chance that the central bank will pursue a quarter-point rate hike in May, and a 25.4% chance of seeing another one in June, which will result in a final rate of between 5.0% and 5.25%. […]

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