USD/JPY The yen has struggled to reach the target level of 150.53 for a long time, which is the embedded line of the price channel. Yesterday, it reached the target, and today, we witnessed a bearish reversal. The Marlin oscillator has failed to develop an upward movement and at the current moment, it seems that […]
Although on the daily chart Ethereum Cryptocurrency still moving in a tough condition which is indicates by the appearance of the deviation between price movement with RSI indicator as well as Bullish 123 pattern which is detected, followed by Bullish Ross Hook (RH) as well as the price movement that is above the WMA (30), […]
If we look on the 4 hour chart of Ripple cryptocurrency, then there will be a deviation between the price movement with RSI indicator as well as the form of Barish 123 pattern where these things gives the clue for Ripple that has the potential to weaken up to the level 0,5349 as the main […]
The world of financial investment has entered a challenging era. In recent days, US, European, and Asian stocks have been declining, and the yield on 10-year Treasury bonds has been plummeting. What really caused this instability? The mystery begins with mixed economic and corporate signals that confuse investors. The US economy seems to be thriving, […]
Analyzing Thursday’s trades: GBP/USD on 30M chart GBP/USD edged higher on Thursday. However, it is quite challenging to explain this specific movement. First, it’s worth noting that the volatility was low, even though there were plenty of important events during the day. The results of the European Central Bank meeting were as uneventful as possible, […]
Analyzing Thursday’s trades: EUR/USD on 30M chart On Thursday, EURUSD traded with an overall volatility of 47 pips. And that’s all you need to know about the market ‘s reaction to the European Central Bank meeting, President Christine Lagarde’s speech, and the release of quarterly GDP and durable goods orders reports in the US. Four […]
The XAU/USD (Gold/US Dollar) chart currently has bullish momentum, indicating a potential move towards the 1st resistance level at 1992.51. The 1st support at 1962.58 is significant, aligning with an overlap support, making it a strong support level. Additionally, the 2nd support at 1946.96 is also an overlap support, reinforcing the potential support zone. On […]
The USD/CHF chart currently shows bearish momentum with a potential move towards the 1st support at 0.8940, which aligns with an overlap support. Another support at 0.8888, a swing low support, further strengthens the potential support zone. On the resistance side, the 1st resistance at 0.8999 is characterized as an overlap resistance, coinciding with the […]
The GBP/USD chart currently shows bullish momentum with potential for an upward move towards the 1st resistance at 1.2213, a significant level due to its alignment with a pullback resistance and the 78.60% Fibonacci Projection. There’s also a 2nd resistance at 1.2288, acting as a swing high resistance. For support, the 1st level at 1.2054 […]
The wave pattern for the GBP/USD pair suggests a decline within the downtrend segment. The most that we can expect from the pound in the near future is the formation of Wave 2 or b. However, there are currently significant issues even with the corrective wave. At this time, I would not recommend new short […]
Now is not the time to talk about future prospects. This was the tone of the European Central Bank’s October meeting, the results of which were revealed on Thursday. Overall, the central bank made the expected decision to maintain interest rates as they were. The likelihood of this scenario being realized was 100%, so the […]
Overview: The EUR/USD pair steadies near 1.0571 after USD slide. The EUR/USD pair reached a peak of 1.0571 following the release of a weak ISM Services PMI report from the US. The EUR/USD pair is currently hovering near the 1.0571 level, unchanged for the day. The EUR/USD pair trades with modest losses, not far above […]
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 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 […]
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 price of gold continues to stay higher even if the price action signaled exhausted buyers. It’s located at 1,983 at the time of writing, below today’s high of 1,993. The bias remains bullish, but an upside continuation needs confirmation. Also, despite exhaustion signs, a correction is far from being confirmed. Fundamentally, the ECB maintained […]
For the GBP/USD pair, the wave count remains quite simple and clear. The construction of a new bearish trend section continues, the first wave of which has taken on a fairly extended form. In my opinion, the pound has no reason to resume the bullish trend section, so I don’t even consider such a scenario. […]
The USD/CHF pair is trading in the green at 0.8995 and it seems determined to approach and reach new highs. You knew from my previous analysis that the price could develop a larger growth after taking out the immediate resistance levels. Fundamentally, the USD received strong support from the US economy today. The Advance GDP […]
The wave analysis on the 4-hour chart for the euro/dollar instrument remains quite clear. Over the past year, we have observed only three wave structures, which constantly alternate with each other. In recent months, I have consistently stated that I expect the instrument to reach around the 1.5 figure, from which the construction of the […]
Early in the American session, gold (XAU/USD) is trading around 1,978.66, above the 21 SMA, and within an uptrend channel formed since October 20. Gold has formed a double top between the highs of October 20 at 1,997 and on October 26 at 1,994. Trading below the 8/8 Murray, the instrument could fall to the […]
“Buy the rumor, sell the fact.” Over the past three days, EUR/USD quotes have been declining, reflecting expectations of the U.S. economy accelerating more than twice in the third quarter compared to the second and forecasts for the deposit rate to remain at 4%. When the ECB actually paused and the U.S. GDP expanded even […]
USDJPY unlocks new one-year high Another positive close could confirm bullish formation USDJPY has been moving back and forth around the 150 round level, hitting a high of 150.76 and a low of 149.84 throughout the day. The upbeat US Q3 GDP report did not excite the bulls, but hopes for a continuation higher have not […]
The euro dipped upon receiving news that the European Central Bank has concluded its streak of interest rate hikes in spite of looming inflationary risks. These risks stem from surging oil market asset prices and the ongoing conflict between Israel and HAMAS. It was revealed that the benchmark rate remains fixed at 4.5% after a […]
AMD stock has generated a structure of lower highs and lower lows Its close below the 200-day SMA deteriorates the outlook Momentum indicators aggressively tilted to the bearish side AMD’s stock has been forming a bearish technical pattern following its 2023 peak of 131.90 on June 13. In the previous daily session, the price closed […]
In an unexpected turn, the U.S. economy in the third quarter displayed a resilience that outstripped most projections, fueled predominantly by buoyant consumer demand. This bullish trend emerged even as analysts pointed to heightened interest rates, surging inflation, and a myriad of internal challenges that could have potentially weighed down growth metrics. A report by […]
Let’s take a look at the technical picture of GBP/USD, EUR/USD, USD/JPY and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April 18, 2024 We introduce you to the daily updated section of Forex…Hot forecast for EUR/USD on April 18, 2024 April 18, […]
US stock futures opened lower following the release of several corporate reports from major American companies. S&P 500 futures dropped 0.8%, while the tech-heavy NASDAQ plummeted by 1.0%. Meta Platforms Inc., the parent company of Facebook, saw its shares fall by 4% in premarket trading due to poor performance and concerns about the uncertain economic […]
In my morning forecast, I paid attention to the level of 1.2070 and recommended making decisions on the market entry with this level in focus. Let’s look at a 5-minute chart and figure out what happened there. The price decrease and a false breakout at this level created an excellent entry point for long positions. […]
CHF/JPY Overbought! The CHF/JPY pair is located at 167.50 at the time of writing. As you can see on the H1 chart, the rate moves somehow sideways. It has changed little, that’s why we need confirmation before taking action again. Technically, the price dropped below the uptrend line, signalling exhausted buyers and an overbought market. […]
Despite investors’ concerns about currency interventions by the Bank of Japan, yesterday, the USD/JPY pair finally broke through the psychologically significant level of 150.00, and at the beginning of today’s European trading session, it briefly exceeded the 150.70 mark. However, it then sharply declined below the 149.90 level. The intraday volatility was 96 points. Economists […]
