In my morning forecast, I drew attention to the level of 1.0586 and recommended using it to make trading decisions. Let’s look at the 5-minute chart and analyze what happened there. The decline and the formation of a false breakout around 1.0586 occurred, which gave a signal to buy. However, despite good statistics, there was […]
On Tuesday, the EUR/USD pair executed a reversal in favor of the US dollar, dropping to the levels of last Monday’s opening. The ascending trend corridor continues to characterize traders’ sentiment as “bullish.” If the quotes remain below this corridor, it will favor the US currency and cause the formation of a new “bearish” trend. […]
On the hourly chart, the GBP/USD pair made a reversal in favor of the American currency on Tuesday, dropping below the level of 1.2175. The consolidation of quotes below this level allows for expectations of further decline towards the level of 1.2106, which serves as a support point for the bulls. If they fail to […]
Potential for the further drop on GBP…. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Dollar pulls back; ECB sends clearer cut… April 12, 2024 Dollar takes a breather, but Fed bets remain unchanged Euro…The market is disappointed and softening expectations for… April 12, 2024 After the latest inflation […]
Details of the Economic Calendar on October 24 Data on the labor market in the United Kingdom was published, and the unemployment rate stood at 4.2%, which was lower than the expected 4.3%. However, it’s worth noting that the number of jobless claims rose by over 20,000 in September, surpassing expectations by 2,000. Employment figures […]
The GBP/USD currency pair on Tuesday once again repeated the movements of the EUR/USD pair. We have already mentioned that while the euro had at least formal reasons for such a decline (weak business activity indices), the pound did not. Certainly, business activity indices in the United Kingdom also did not show a positive dynamic, […]
Tokyo inflation details will be released on Thursday 23.30 GMT Market prepares for the next BoJ gathering as geopolitics affect sentiment A strong set of data could offer some short-term respite to the yen Market prepares for the next BoJ meeting With only a few days left until the next Bank of Japan meeting, the […]
Amazon stock experienced a downside correction from 2023 high Has been trading without clear direction since then Momentum indicators suggest a cautiously positive bias Amazon’s stock had been in a steady uptrend since the beginning of the year, attempting to erase part of its huge 2022 decline. However, in mid-September the stock pulled back from its […]
Let’s take a look at the technical picture of USD/CAD, EUR/CAD and Oil. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly Forex Outlook: 12/04/2024 – More inflation data on… April 12, 2024 CPI numbers due in the UK and Japan. China to also…Hot forecast for EUR/USD on April 12, 2024 April 12, […]
The EUR/USD currency pair sharply and significantly decreased on Tuesday. We’ve already mentioned in our previous articles that the euro currency saw an unjustified increase on Monday, but this rise was logical within a technical framework, as the correction was very weak at that time. Yesterday, we witnessed another “restoration of fairness.” The market almost […]
Yesterday, the pair formed some great market entry signals. Let’s have a look at what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.2281 as a possible entry point. A rise and false breakout at this mark produced a great sell signal, sending the pair down by more than […]
PMIs suggest the US economy entered Q4 on solid footing The divergence between US/Eurozone outlooks weighs on euro/dollar Aussie rallies on stickier inflation, yen pinned near 150-per-dollar mark Wall Street pays attention to corporate earnings Euro/dollar slides from near key resistance on PMI data Although the 10-year US Treasury yield held steady comfortably below the […]
USDCAD jumps above 1.3700 ahead of BoC rate decision Will the pair breach the neutral triangle pattern too? USDCAD held its footing above the resistance-turned-support trendline drawn from the 2020 peak and bounced back into the 1.3700 area on Tuesday. The latest bullish action shifted the attention back to the 1.3800-1.3860 region ahead of the […]
When the US dollar sharply fell on Monday, without any apparent reason, there were suspicions that it was due to some speculation. Unfortunately, yesterday’s events seem to confirm this. The dollar has sharply strengthened. Even though there was a formal reason for this in the form of good flash PMIs, in reality, all of this […]
Analysis of GBP/USD 5M GBP/USD bounced downwards strongly on Tuesday. While the euro had formal reasons to decline, the pound did not. The UK released four reports, two of which were favorable and two were weak. The main point is that the Services and Manufacturing PMIs did not continue their negative trend, and the unemployment […]
Analysis of transactions and tips for trading GBP/USD Further decline became limited because the first test of 1.2220 coincided with the sharp downward movement of the MACD line from zero. The second test gave a buy signal, but it ended with losses. Very poor figures on activity in the manufacturing and services sectors led to […]
NZDUSD is in the green again today, a tad above a key level Bearish pressure lingers as NZDUSD traded at a 1-year low Momentum indicators could soon turn bullish NZDUSD is edging higher today, recording its third consecutive green candle but trading only a tad above the key 0.5813 level. The bears remain in control […]
Crypto Industry News: Chainalysis, a leading blockchain analytics company, has categorically disagreed with a recent report by the prestigious Wall Street Journal (WSJ) which claimed that the Palestinian terrorist organization Hamas used cryptocurrencies to raise $90 million to attack Israel. American congressmen used “fake news” to narrate the need to tighten the screws on digital […]
Crypto Industry News: This week, the bitcoin price skyrocketed. Reason? The ticker of the iShares exchange-traded fund (IBTC), which was proposed by BlackRock, appeared on the Trust & Clearing Corporation (DTCC) depository exchange. The market took this as an announcement of the creation of a Bitcoin ETF. The problem is that the ticker was removed […]
Technical Market Outlook: The GBP/USD pair had made a new local high at the level of 1.2287,and then reversed lower after the Pin Bar candlestick pattern was made at the top of the move. The intraday technical support is still located at the level of 1.2142 and the intraday technical resistance is located at 1.2336 […]
Technical Market Outlook: The EUR/USD pair has been seen coming off the local high located at the level of 1.0695 after the ABC corrective pattern had been completed. The price broken below the technical support seen at the level of 1.0614 and is heading towards the level of 1.0566. The nearest technical resistance is located […]
Technical outlook: EUR/USD corrected lower through 1.0582 on Tuesday, testing the potential Fibonacci 0.618 retracement and support of the recent upswing between 1.0480 and 1.0694. A bullish bounce is expected from here and push through 1.0750 in the next few trading sessions. The bears might come back in control thereafter. EUR/USD is unfolding a larger-degree […]
EUR/USD Higher Timeframes Testing the attraction and influence zone of the weekly short-term trend (1.0697) resulted in a significant response from the bears. They managed to nullify all the opponent’s achievements from the day before and bring the pair back to the support zone of the daily cross 1.0595-93 (Tenkan + Kijun), which is now […]
The XAU/USD (Gold/US Dollar) chart currently shows a bearish momentum, indicating the potential for a bearish continuation towards the 1st support level at 1947.23. This support level aligns with an overlap support, suggesting it could serve as a substantial area of price support. Additionally, the presence of a 2nd support at 1932.26, identified as a […]
The EUR/USD chart currently displays bullish momentum, with the potential for a bullish continuation towards the 1st resistance level at 1.0680. The 1st support at 1.0492 aligns with a swing low support, indicating a potential area of price support. Additionally, traders are watching the 1.0580 level for downside confirmation, which is identified as an overlap […]
The GBP/USD chart currently shows bearish momentum with potential for a bearish continuation towards the 1st support at 1.2106, which aligns with a multi-swing low support. The 2nd support at 1.2049, also a multi-swing low support, adds to its significance as it coincides with the 127.20% Fibonacci Extension level. On the resistance side, the 1st […]
Based on what appears on its 4 hour chart of USD/CAD commodity currency pairs, we can see that The Loonie is in the middle of ranging Sideways condition. However, by the appearance of the deviation between price movement with Stochastic Oscillator indicator as well as Ascending Broadening Wedge pattern that has detected, USD/CAD has the […]
With the price movement of AUD/JPY cross currency pairs on the 4 hour chart which is above WMA 30 Shift 2 as well as the appearance of the deviation pattern between price movement with Stochastic Oscillator indicator, gives the clue that actually AUD/JPY has the quite significant upward momentum but unfortunately by the appearance of […]
EUR/USD: It seems that the euro has no strength to rise or fall. Yesterday, EUR/USD pared Monday’s gains. As a result, this morning, the euro is below the level of 1.0613 and below the Fibonacci level. The reason for this movement was the weak eurozone PMI and moderately strong data from the US, although the […]
GBP/USD: The British pound, which fell by 87 pips on Tuesday, returned to the week’s opening level and stopped at the nearest line of the price channel. The Marlin oscillator is still in the uptrend territory. It is quite possible (with a 60% chance) that the pound will resume its upward movement from the support […]
