GBPUSD trades sideways between parallel SMAs Remains within its medium-term neutral pattern Momentum indicators improve but stay in negative zones GBPUSD experienced a strong decline following its break above the rangebound structure in place since November. Despite the temporary violation of the 200-day simple moving average (SMA), the pair reversed back higher before the 50-day SMA curbed […]
Analyzing Monday’s trades: GBP/USD on 1H chart The GBP/USD pair edged up on Monday, which doesn’t mean anything significant for the technical picture. Take note that the main point is the flat on the 24-hour timeframe. Not long ago, the price reversed near the lower boundary of the sideways channel at 1.25-1.28, so now, over […]
Analyzing Monday’s trades: EUR/USD on 1H chart EUR/USD returned to its usual mode of movement amid low volatility. In general, if we regularly observe low volatility even on days when there is a strong fundamental background, then what can we possibly say about Mondays, when there are usually no news or reports? Yesterday, the German […]
EUR/USD Yesterday, market sentiment among speculators was neutral; S&P 500 -0.04%, Nasdaq 0.03%. German industrial production increased 2.1% in February against expectations of 0.6%, and the Eurozone Sentix Investor Confidence Index rose from -10.5 in March to -5.9 in April. As a result, the euro expanded its consolidation range in anticipation of the European Central […]
GBP/USD Yesterday, the pound sterling rose to the resistance area of the embedded descending price channel and the daily balance indicator line. In today’s Pacific session, the price thought about its ability to rise while being below the balance line and with the Marlin oscillator in negative territory. In such a situation, along with a […]
USD/JPY The USD/JPY pair covered the entire range of target levels 150.80-151.95 in two days. On Friday, the price turned upwards from the balance line (red moving average) and from the level of 150.80. This morning, the upper boundary of the range and the embedded line of the global price channel (blue) have been tested. […]
EUR/USD Higher Timeframes On the first day of the new trading week, bullish players showed notable activity. They managed to close the day above the daily medium-term trend (1.0854). The following upside targets for today can be noted at 1.0884 – 1.0899 – 1.0918. Breaking through these daily and weekly resistances will allow for considering […]
The Bitcoin exchange rate has significantly strengthened after a series of corrections last week. The latest price movement pushed the main cryptocurrency above the critical resistance zone, instilling optimism among investors ahead of the upcoming halving. Analysts at CryptoQuant emphasize that the rise in the price of Bitcoin above the $72,000 mark is explained by […]
Tug of war. This is what the doves and hawks of the ECB are engaged in. This is what EUR/USD is involved in. On the side of the U.S. dollar are fewer expected rate cuts to the federal funds rate in 2024 than investors anticipate, a stronger U.S. economy, and the risks of Donald Trump’s […]
The wave analysis for the GBP/USD pair remains quite complex. For several months now, we have been observing movements between the Fibonacci levels of 50.0% and 23.6%. Horizontal movement is not the best for wave analysis. As I have already noted, the wave pattern should be simple and understandable in order to work with it. […]
The ECB meets on Thursday with strong indications for a dovish tilt Low chances of a rate cut being announced this week The euro could enjoy a short-term rally against the US dollar if ECB proves hawkish Decision will be announced on Thursday 12.15 GMT, press conference at 12:45 GMT The ECB meets this week […]
The British pound is trading around 1.2625, consolidating for several hours around this area and forming a symmetrical triangle pattern. This pattern could give us a clear signal in case of a breakout. If this scenario occurs, we could look for opportunities to buy above 3/8 Murray, with the target at 1.2695. On the contrary, […]
EUR/USD is trading around 1.0832, within the downtrend channel formed on the H1 chart, and around the 21 SMA. We can see that the euro is above the 200 EMA. It means that there could be a sharp break of this channel and EUR/USD could continue its rise and could reach 5/8 Murray located at […]
The wave analysis of the 4-hour chart for the EUR/USD pair remains unchanged. At the moment, we observe the construction of the presumed wave 3 in 3 or c of the downtrend section. If this is indeed the case, the decline in quotes will continue for a very long time, as the first wave of […]
US CPI inflation expected to have ticked up in March But markets may shrug it off if core figure inches lower Data due at 13:30 GMT, Wednesday, will be followed by FOMC minutes at 18:00 GMT Will CPI report boost rate cut bets? Inflation data according to the CPI and PCE measures have started to […]
AUDUSD lacks clear direction MACD and RSI move horizontally AUDUSD is moving back and forth from the short-term simple moving averages (SMAs) which are standing near the 0.6540 number. The pair is also consolidating within the 0.6485-0.6635 range with the technical oscillators confirming this view. The MACD is moving horizontally below its trigger line and […]
USDJPY has been quiet within a range for a while. Is it time for action? EURGBP keeps looking for a bullish trend reversal as ECB rate decision looms USDCAD maintains positive structure ahead of an interesting BoC meeting US CPI inflation –> USDJPY Wednesday will be an inflation day in the US. The new […]
Potential for the breakout on the USD/JPY…. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly Technical Outlook: 08/04/2024 – USDJPY, EURGBP,… April 8, 2024 USDJPY has been quiet within a range for a while.…EUR/USD and GBP/USD: Technical analysis on April 8 April 8, 2024 EUR/USDHigher TimeframesAt the end of last week, […]
The net long dollar position increased by another $2.4 billion over the reporting week, totaling $16.1 billion, showing confidently bullish positioning. The dollar gained mainly against the euro and the yen, with minor repositioning against other currencies. The increase in the long dollar position is logical and easily explained: the more the market doubts that […]
USDJPY has been quiet within a range for a while. Is it time for action? EURGBP keeps looking for a bullish trend reversal as ECB rate decision looms USDCAD maintains positive structure ahead of an interesting BoC meeting 0:00 Intro 0:41 USDJPY 2:18 EURGBP 3:32 USDCAD For more information on the topics discussed in this […]
EUR/USD Higher Timeframes At the end of last week, the market couldn’t determine its direction and priorities, casting long daily shadows both upwards and downwards, while remaining within the gravitational zone of the main levels of the weekly Ichimoku cross. Today, the levels of the weekly cross (1.0825 – 1.0839) continue to exert their influence […]
Inflation in the euro area fell to 2.44% year-on-year in March, with price growth in the services sector slowing to 4%. Core inflation also declined due to a sharp slowdown in food price growth to 2.7% on an annual basis. According to the ECB, rising core inflation corresponds to a monthly increase of just over […]
The EUR/USD pair dropped to the support zone of 1.0785–1.0801 on Friday, rebounded from it, and resumed the upward process towards the Fibonacci retracement level of 38.2%–1.0866. A new rebound from this level will again benefit the US dollar, as will a return to the zone of 1.0785–1.0801. Consolidation of the pair’s rate below this […]
On the hourly chart, the GBP/USD pair rebounded from the support zone of 1.2584–1.2611 on Friday and turned in favor of the British pound. There wasn’t enough time for a new rise in the pair, but bullish traders still retain the possibility of pushing the pound up this week. If the quotes consolidate below the […]
US 500 creates some downside recovery Oscillators indicate bearish correction The US 500 cash index has lost some momentum in the preceding days, diving beneath the steep uptrend line, but the outlook remains bullish in the long-term view. Technically, the RSI indicator is flattening above the neutral threshold of 50, while the MACD dropped beneath […]
The GBP/USD currency pair also showed illogical and unjustified movements on Friday. It may seem that the downward trend in the pound is still intact, but this is not the case. Just switch to the 24-hour timeframe, where a 4-month flat is clearly visible. Thus, on the 4-hour chart, we observe alternating short-term upward and […]
The EUR/USD currency pair attempted to resume its downward movement on Friday but failed to establish itself even below the moving average. All the necessary information was present, but the pair traded strangely and illogically throughout the past week. The rise of the European currency began as early as Tuesday, and over the next three […]
Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar unable to hold onto gains, as stock markets race higher Gold hits new record highs, defying rising yields and geopolitics US labor market sizzles The American economy continues to hum along, with the labor market still firing on all cylinders. Nonfarm payrolls rose by 303k […]
GBP/USD Analysis: Since July last year, the main direction of price movement in the GBP/USD pair has been determined by a descending wave algorithm. Its structure is developing as a corrective type, resembling a “pennant.” The unfinished section started counting on March 8th. Last week, the price broke through a strong support level, after which […]
EUR/USD Analysis: On the chart of the European currency, the direction of price fluctuations since September of last year sets a descending wave algorithm. The wave structure forms a horizontal corrective plane. Extremes on the chart create a “pennant” pattern. The wave structure is nearing completion, but there are no signals of an imminent reversal […]
