SPX is trading around 4,367 today, having started the week on a positive note, as it was ended last week. Price is challenging the Daily Kumo (cloud) resistance. The area around 4,370 is very important resistance and a daily close inside the Kumo would turn trend to neutral from bearish. The tenkan-sen (red line indicator) […]
Red lines- bearish channel Blue lines- Fibonacci retracement levels Eurostoxx50 index has started the week on a negative note. In previous posts we warned traders that the bounce in the Eurostoxx50 index has reached very important channel resistance. Price was challenging the upper channel boundary and today we have rejection signs. Price got rejected at […]
Blue lines- Fibonacci retracement levels Gold price is trading around $1,982. Price has started the week on a negative note. Over the last few trading sessions price is showing a slowing down of the bullish momentum and signs of a possible short-term top and reversal. So far no reversal has been confirmed. With the RSI […]
Blue lines- Fibonacci retracement levels Black line- support trend line Red line- resistance trend line (broken) EURUSD is trading around 1.0740. The week has started on a positive note, exactly as it has ended. Price made a new higher high today getting even closer to the first important Fibonacci retracement resistance at 1.0766. This is […]
Red line- major resistance trend line Blue lines- Fibonacci retracement levels Yellow rectangle- resistance (broken) Black line- major support trend line XRPUSD is currently trading above $0.70. Recently XRPUSD provided us with a bullish reversal signal when price broke above the horizontal resistance area around $0.55. Short-term trend is bullish as price is making higher […]
UK GDP in focus this week; pound could significantly benefit RBA meeting and Chinese data could push aussie even higher vs. the US dollar USDJPY could break below its upward trending channel if Japanese data improve 0:00 Intro 0.31 EUR/GBP 3:09 AUD/USD 6:17 USD/JPY For more information on the topics discussed in this video, including […]
AUDUSD claims 0.6400 zone after fast rally Short-term bias positive, but there are more threats higher RBA to raise interest rates, but the aussie may not gain AUDUSD breached the tough 0.6430-0.6450 zone with strong momentum to rise straight up to the August bar of 0.6520 last Friday. The possibility of a rate hike […]
Last Friday, the pair formed several signals to enter the market. Let’s have a look at what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.2184 as a possible entry point. A fall to this level and its false breakout generated a good entry point into long positions, sending […]
UK GDP in focus this week; pound could significantly benefit from a strong print RBA meeting and Chinese data could push aussie even higher against the US dollar USDJPY could break below its upward trending channel if Japanese data improve UK GDP Q3 print -> EURGBP The Bank of England kept its main bank rate […]
When the central bank puts an end to the cycle of rate hikes, the markets start anticipating rate cuts. Unlike the Federal Reserve, the Bank of England has made it clear that it won’t rush to ease its monetary policy, regardless of how the British economy may feel. This, along with disappointing October employment data […]
In my morning forecast, I drew attention to the level of 1.2390 and recommended using it as a reference for trading decisions. Let’s examine the 5-minute chart and analyze what happened there. The rise and the formation of a false breakout at this level provided an excellent entry point for short positions, but after a […]
In my morning forecast, I pointed out the level of 1.0748 and recommended using it as a reference for market entry decisions. Let’s examine the 5-minute chart and analyze what happened there. The rise and the formation of a false breakout occurred at this level, but as you can see, there are very few sellers […]
The EUR/USD pair resumed its upward movement on Friday, consolidating above the level of 1.0714. Thus, the euro’s quotes may continue to rise towards the corrective level of 38.2% (1.0765). A rebound from this level or a close below 1.0714 will favor the US dollar and mark the beginning of a decline towards the Fibonacci […]
On the hourly chart, the GBP/USD pair continued its upward movement on Friday, consolidating above the levels of 1.2250 and 1.2336. Thus, the upward movement may continue towards the next corrective level of 127.2% (1.2440). The consolidation of quotes below the level of 1.2336 will favor the US dollar and mark the beginning of a […]
The EUR/USD pair started the trading week fairly calmly. During the Asian session on Monday, sellers attempted to push for a downward correction, but this attempt failed. EUR/USD bears managed to reach only the level of 1.0724, where they lost their initiative. It’s also worth noting another significant point: the absence of a downward gap. […]
GBP/USD Brief Analysis: The direction of the short-term trend of the British pound sterling has been defined by a bearish wave since mid-July of this year. In the structure of this wave, the middle part (B) started on October 4th. At the end of the previous week, quotes moved upward from the border of a […]
Analysis of transactions and trading tips on GBP/USD Further growth became limited because the test of 1.2396 coincided with the sharp upward movement of the MACD line from zero. Pound continued to be in an upward trend even in the face of weak activity data on the UK construction sector. And even though the upcoming […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0749 occurred when the MACD line moved sharply upward from zero. This, along with the overbought conditions and the proximity to monthly highs, limited the upward potential of the pair. Shortly after, another test took place, but this time the MACD lies in the […]
AUDJPY enjoys fastest weekly growth since June Risk skewed to the upside, but gains could be limited RBA policy announcement due on Tuesday at 03:30 GMT AUDJPY has turned its eyes back to June’s peak of 97.65 after a constructive week of strong gains. The RSI and the stochastic oscillator are warning that the latest […]
EUR/USD Analysis: In the short term, an ascending wave structure is relevant. For the main trend, this is a correction. It has been counting since the end of September and has not been completed yet. The wave extremes form a shifting plane on the chart. The structure appears to be complete, but there are no […]
The GBP/USD currency pair also showed a strong upward movement on Friday, with volatility exceeding 200 points, which we haven’t seen in a long time. Thus, the British pound has finally shown the correction we’ve been waiting for over the past few weeks. Now, the upward correction can end at any moment because the dominant […]
Breakout mode on the Gold might be in the play… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Analysis and trading tips for USD/JPY on November 8 November 8, 2023 Analysis of transactions and tips for trading USD/JPYFurther growth became…Trading plan for EUR/USD for November 08, 2023 November 8, 2023 Technical outlook:EUR/USD […]
Let’s take a look at the technical picture of EUR/USD, GBP/USD, USD/JPY and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly Forex Outlook: 05/04/2024 – ECB decision and US… April 5, 2024 Central bank decisions in Eurozone, Canada, and New Zealand. Highlight…Weekly Forex Outlook: 05/04/2024 – ECB decision and US… […]
The EUR/USD currency pair showed a strong upward movement on Friday, but it may end very quickly. It is essential to remember that the pair began an upward correction more than a month ago and has managed to rise by 300 points during this time. This might not seem like much, but anything less would […]
Dollar pummeled after disappointing US employment data Stock markets rally, but gold fails to capitalize on falling yields Australian interest rate decision and Chinese trade data next Dollar hammered after NFP A disappointing US employment report inflicted some serious damage on the dollar last week. Nonfarm payrolls clocked in at 150k in October, missing the […]
Analysis of transactions and tips for trading GBP/USD Further growth became limited because the test of 1.2221 coincided with the sharp upward move of the MACD line from zero. Meanwhile, PMI data for the UK released last Friday did not have much impact on the pair. Upcoming PMI data for the UK’s construction sector, as […]
Even though the price movement on the daily chart of USD/JPY main currency pairs is in a bullish condition and is above its Moving Average, the appearance of a deviation pattern between price movements and the RSI indicator gives an indication that in the next few days, USD/JPY has the opportunity to weaken. USD/JPY has […]
Even though on the 4-hour chart Fiber appears to be moving in a strengthening condition where this is confirmed by its price movement moving within a channel that has a slope that dips upwards and above its WMA 30 shift 2 which also has a slope that dips upwards, but with deviations appearing between price […]
Gold extends last week’s sideways move below 2,000 Bullish structure in progress above 1,980 Gold shifted to a sideways pattern after its impressive rally from a seven-month low of 1,800 run out of steam slightly above the 2,000 mark. The consolidation phase seems to be developing within a bullish pennant formation, feeding hopes that the bulls have more fuel […]
Trend analysis This week, GBP/USD may move downward from the level of 1.2379 (closing price of the last weekly candle) to the 14.6% retracement level of 1.2259 (red dashed line). Upon testing this price, it will turn around and move upward to the 38.2% retracement level of 1.2502 (red dashed line). Fig. 1 (weekly chart) […]
