Analysis of Wednesday trades: GBP/USD 1H chart By the end of the third trading day of the week, the GBP/USD pair once again tested the crucial 1.2107 level. Interestingly, this level has been breached multiple times, yet each time, the price returns and settles above it. The pair has been unable to initiate a new […]
Analysis of Wednesday trades: EUR/USD 1H chart The EUR/USD currency pair continued to decline throughout Tuesday, although the specific reasons remain unclear. It should be noted that the pair has been undergoing a correction in recent weeks, albeit not consistently moving upward. However, when local peaks are updated, the movement is upward, albeit very weak. […]
Inaction can sometimes be an action, as aptly expressed by Christine Lagarde when explaining the ECB’s reluctance to raise rates in October. The Fed will find plenty of reasons to justify another pause in the cycle of monetary policy tightening. This includes progress in combating inflation, rising Treasury yields, which do the central bank’s job […]
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 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 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 […]
Apple stock battles with 200-day SMA ahead of Q3 earnings Dropped to its lowest since May before recouping some losses Oscillators improve but still in negative zone Apple’s share has been in a clear downtrend after recording a fresh all-time high in mid-July, dropping below its 200-day simple moving average (SMA) for the first time […]
Regarding the pound/dollar pair, the wave analysis remains fairly straightforward and clear. The construction of a new downward trend segment continues, with the first wave taking on a fairly extended form. In my view, the British currency has no grounds to resume an upward trend segment, so I do not even consider such a scenario. […]
The wave analysis of the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we have seen only three wave structures that constantly alternate with each other. For the past few months, I have regularly mentioned that I expect the pair to approach the 1.2000 level, where the construction of the […]
Review of trades and trading tips for the British pound The test of the price at 1.2149 occurred when the MACD indicator was in the overbought zone, which clearly limited the further downside potential of the pair. For this reason, I did not buy the pound. The outcome will be determined during the FOMC meeting […]
Review of Trades and Trading Tips for the European Currency The test of the price at 1.0565 occurred when the MACD indicator was just starting to move down from the zero mark, confirming the right entry point for selling the euro. As a result, the pair fell by more than 25 points. In the second […]
In my morning forecast, I pointed out the level of 1.2161 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The rise and the formation of a false breakout at this level resulted in an excellent entry point for short positions, causing the […]
Early in the American session, the Japanese yen (USD/JPY) is trading around 151.15, below the 21 SMA, and below +1/8 Murray. Yesterday during the American session, it reached a high at about 151.70. Since then, we’ve been watching a technical correction to last for a few days until the price reaches the 200 EMA located […]
In my morning forecast, I drew attention to the level of 1.0580 and recommended making entry decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. There was an upward movement, but it did not reach the level of 1.0580 due to a false breakout, as it fell […]
Orange rectangles- similar pattern expected Green rectangles- overbought levels Red line- support trend line Blue lines- Fibonacci retracement levels Black lines- expected price path Bitcoin is trading just below the $35,000 price level. Short-term trend remains bullish. The RSI is at overbought levels as we mentioned in a previous analysis. If we follow a similar […]
USDJPY is trading around 151.30. Daily trend according to the Ichimoku cloud indicator remains bullish. After a couple high volatility days where price challenged the kijun-sen (yellow line indicator), USDJPY is still in a bullish trend well above the Daily Kumo (cloud). Initially USDJPY provided us with a sign of weakness when price pulled back […]
USDCHF edges lower today after a strong upleg July 27 ascending trendline acts as resistance at this stage Momentum indicators point to weakening bullish pressure USDCHF is edging lower today after nine consecutive green candles. A similar move took place during September and pushed USDCHF to a 6-month high of 0.9243. The July 27 ascending […]
BTCUSD surged above 35,000 to its highest since May 2022 Has been flat since then, forming a pennant pattern Momentum indicators remain within overbought territories BTCUSD (Bitcoin) has experienced a massive rally driven by speculation around the approval of spot-Bitcoin ETFs, which sent the price to a fresh 18-month high of 35,187. However, the leading cryptocurrency has […]
Yellow line- bearish RSI divergence Blue lines- Fibonacci retracement levels Gold price is trading around $1,983. Short-term trend remains bullish as price continues making higher lows and higher highs. Price is still trading above the key short-term support by the 23.6% Fibonacci retracement. A break below the 23.6% Fibonacci retracement combined with the bearish RSI […]
EURUSD is under pressure for a second day in a row. After yesterday’s rejection near the cloud resistance, EURUSD today is breaking below the kijun-sen (yellow line indicator). This is a bearish sign and if the day closes below the kijun-sen, we should expect more downside over the coming sessions. Of course the announcement of […]
Gold in 2023 continues to surprise. Despite the strong dollar, soaring to its highest levels since 2016, the yield of 10-year Treasury bonds, and the ongoing capital outflow from gold-oriented ETFs for the fifth consecutive month, it has surged above the psychologically important $2000 per ounce mark. And we can attribute this to de-dollarization and […]
The euro-dollar pair, after a sharp surge towards the resistance level of 1.0670 (the lower boundary of the Kumo cloud on the D1 timeframe), made a 180-degree turn and is currently trading in the middle of the 5th figure. Such price dynamics were primarily driven by the weakening of the euro: yesterday’s report on inflation […]
The EUR/USD pair saw an increase above the corrective level of 23.6% (1.0644) on Tuesday, but it failed to rise significantly. In the second half of the day, there was a reversal in favor of the US currency, and the pair returned to the level of 1.0561. A bounce from this level allows us to […]
On the hourly chart, the GBP/USD pair rose to the level of 1.2175 on Tuesday, but a reversal in favor of the US dollar followed, and a new decline towards the level of 1.2106 began. Lately, the pair has spent a lot of time between the levels of 1.2106 and 1.2175. A rebound from the […]
Review of Trades and Trading Tips for the Japanese Yen The test of the price at 150.32 occurred when the MACD indicator had just started to move upwards from the zero mark. This confirmed the correct entry point for long positions in the continuation of the uptrend. As a result, the pair rose by more […]
The pound sterling advanced amid positive real estate market data, which showed that housing prices in the UK unexpectedly rose in October. This indicates that the real estate market is stabilizing, with the expectation that the Bank of England is nearing the end of its interest rate hiking cycle. According to the data from the […]
The euro and the pound sterling dropped once again due to strong US data, after which market balance was restored. Traders are likely to take a pause now to prepare for the Federal Reserve’s decision, which is set to keep interest rates at a 22-year high for the second consecutive meeting. However, many experts suppose […]
Potential breakout for on the BTC 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 is pulling back after […]
Let’s take a look at the technical picture of EUR/USD, USDX and SP500 ahead of FED interest rate decision tonight. 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: […]
US employment growth expected to slow down in October Dollar retreats ahead of the event but outlook remains bright Nonfarm payrolls to be released at 12:30 GMT Friday US outperforms It’s been a strong year for the United States. Despite a sharp slowdown in manufacturing and sky-high interest rates limiting access to credit, the […]
