Following the results of two inflation releases, the dollar once again made its presence known. Interestingly, traders of dollar pairs completely disregarded the report on the Producer Price Index, all components of which entered the “green zone.” However, they strongly reacted to the rather contradictory Consumer Price Index. Despite the conflicting signals, traders interpreted the […]
On Thursday, the EUR/USD pair rebounded from the level of 1.0637, marking a reversal in favor of the US dollar and a sharp decline below the corrective level of 161.8% (1.0561). The sustained quotes below this level allow us to anticipate further decline towards the next level at 1.0489. A close above 1.0561 today would […]
On the hourly chart, the GBP/USD pair reversed its course near the level of 1.2336 (former 1.2342), favoring the US currency, settling below the ascending trend corridor and the corrective level of 161.8% (1.2250). The decline concluded around the level of 1.2175, where a bounce occurred. However, there was no significant rally, and this morning, […]
The GBP/USD currency pair also sharply and unexpectedly plummeted on Thursday. As we’ve mentioned before, the cause lies in American inflation. More precisely, the cause is the market itself. It’s unclear why the market suddenly started buying dollars based on a report that, by all parameters, fits the definition of “neutral.” However, we’ll discuss this […]
The EUR/USD currency pair sharply plummeted on Thursday. This move was, of course, solely triggered by the U.S. inflation report, which we will discuss shortly. However, it should be noted that, in essence, there were no reasons or grounds for the market to react so strongly to this. Nonetheless, we witnessed a significant drop in […]
Potential for the further rally on the Crude Oil… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for April 11, 2024 April 11, 2024 Potential for the further rally on USD/JPYThe material has been…Overview of the EUR/USD pair. April 11th. The market… April 11, 2024 The EUR/USD currency pair […]
The Khon Kaen and Hat Yai seminars marked the end of our series on gold trading in Thailand which has left a lasting impact on traders. From August to October, XM traders had an opportunity to gain invaluable insights into the correlation between DXY, US10Y, and gold, hone their fundamental analysis skills, and discover psychology […]
Technical analysis: BTC/USD has been trading sideways at the price of $26.800 but I see potential for the further downside movement towards the lower reference. Due to the breakout of the descending triangle pattern to the downside, I see potential for the further drop towards lower reference. Downside objective is set at the price of […]
Details of the Economic Calendar on October 12 Inflation in the USA remained at 3.7% in September, which is higher than the consensus forecast of 3.6%. Recall that the Federal Reserve closely monitors data on the pace of consumer price growth in the country, which is one of the important factors in making decisions regarding […]
Technical analysis: GBP/USD has been trading downside in the background and I found breakout of the rising trend line and change of the short term trend from upside to the downside. Due to the breakout of the rising trend-line and strong momentum in the background, I see potential for the further drop towards lower references. […]
Technical analysis: Gold has been trading upside as I expected and the price has reached the first upside objective at $1.883 but I see potential for the further growth. Due to the strong upside momentum and the bullish trend in the background, I see potential for the further growth towards next upside reference. Upside objective […]
EUR/USD Higher Timeframes The lack of effectiveness in dealing with the resistance of the daily Ichimoku cross (1.0609 – 1.0647) led to the formation of a rebound. After closing the previous day under the daily short-term trend (1.0527), the bears returned the situation to the weekly cloud. Today marks the end of the workweek. The […]
After US CPIs, US retail sales may also impact Fed hike expectations. Will the UK inflation numbers increase the chances for another BoE hike? Aussie and Kiwi traders await Australia jobs report and New Zealand’s CPI. China’s GDP could also impact those commodity-linked currencies. 0:00 Intro 0:23 US data and dollar 2:45 UK data and BoE […]
Stronger-than-expected US CPI data revives rate hike bets Dollar re-energised, heads for weekly gains as yields jumps Stocks come under pressure, but selloff limited ahead of Q3 earnings Dovish Fed bets dented by CPI surprise Markets whipsawed on Thursday after the US consumer price index rose more than expected in September, dashing hopes that the […]
After US CPIs, US retail sales may also impact Fed hike expectations Will the UK inflation numbers increase the chances for another BoE hike? Aussie and Kiwi traders await Australia jobs report and New Zealand’s CPI China’s GDP could also impact those commodity-linked currencies Will retail sales allow the dollar to extend its recovery? The […]
USDCAD treats its wounds with solid bounce Caution needed as familiar resistance nearby USDCAD gathered significant momentum on Thursday, flipping weekly losses into a 0.20% gain after a slightly stronger US CPI report. The pair kept its footing above its simple moving averages (SMAs), but the descending trendline from the 2020 top resumed its resistance […]
Crypto Industry News: ARK Invest and 21Shares have filed revised Bitcoin ETF spot fund applications. Observers hope that this time all the SEC’s fears and doubts will be dispelled. Market analysts are optimistic about this move and see it as a good sign. The amended filing was filed with the U.S. Securities and Exchange Commission […]
Crypto Industry News: On Tuesday’s edition of CNBC’s Squawk Box, Paul Tudor Jones warned of a possible stock market crash in the United States. He believes that the progressive and aggressive tightening of monetary policy by the Federal Reserve will lead the American economy into recession. During the show, Paul Tudor Jones also admitted that […]
Technical Market Outlook: The GBP/USD pair has completed the pull-back at the level of 1.2336 and reversed lower. Moreover, the price fell out of the corrective channel and made a new local low at the level of 1.2170. The intraday technical support is located at the level of 1.2260 and the intraday technical resistance is […]
Technical Market Outlook: The EUR/USD pair has broken back below the 50 and 100 MA level, so the corrective cycle might have been completed. The nearest technical support is seen at the level of 1.0520 and the nearest technical resistance is located at the level of 1.0582. The next target for bulls is the swing […]
Although the condition of Ethereum Cryptocurrency still weaken on its 4 hour chart, where it is seen by all the Ichimoku indicator condition gives the sign that this cryptocurrency is on the downside condition. But, with the appearance of the Descending Wedge pattern gives the clue for the appearance of turning point potential for the […]
If we look on the 4 hour chart of Ripple Cryptocurrency there is still inside the weakness condition where it is confirmed by the price movement which is under the Death Cross Kumo, Tenkan Sen and Kijun Sen, as well as the Chikou Span which position below the price movement and automatically under the Kumo. […]
Early in the European session, the Japanese Yen (USD/JPY) is trading around 149.70, above the 21 SMA, and approaching 8/8 Murray, which coincides with the psychological level of 150.00. This zone could act as a strong resistance so that USD/JPY could face a strong rejection. Hence, a technical correction could occur from that point. Yesterday […]
Technical outlook: EUR/USD reversed from the 1.0620-30 zone seen around the trend line resistance on Thursday in line with our projection. Prices are very close to the potential support around the 1.0300-10 area which is also the Fibonacci 0.618 retracement of the recent rally between 1.0450 and 1.0630. The single currency pair is seen to […]
Litecoin is testing support in the 60.00 – 61.78 area which ideally should act as a floor for the next impulsive rally towards 131.05 and above. That said, we need to see a break above resistance at 64.70 to confirm that wave 2 has been completed and wave 3 higher is in motion. Under no […]
EUR/USD failed to break clear of resistance at 1.0617 and backed off to test support at 1.0540. The failure is of concern and raises the odds for a final dip towards the 1.0435 target before wave 2 finally is complete and a new impulsive rally can take over in wave 3. Only a direct break […]
Analysis of transactions and tips for trading USD/JPY The test of 149.20, coinciding with the upward movement of the MACD line from zero, prompted a buy signal that led to a price increase of over 50 pips. The pair nears the psychological level of 150, where the Bank of Japan could intervene at any moment […]
Analysis of transactions and tips for trading GBP/USD The test of 1.2289, coinciding with the decline of the MACD line from zero, prompted a sell signal that led to a price decrease of over 60 pips. The released GDP data for the UK did not particularly help pound continue its rally, while the data on […]
GBP/USD is exhibiting strong bullish momentum, with the potential to move higher towards the 1st resistance at 1.2259, a historically significant level where price often faces resistance. Conversely, on the support side, the 1st support at 1.2173, identified as a multi-swing low support, and the 2nd support at 1.2118, aligned with the 78.60% Fibonacci Retracement, […]
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 […]
