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 bulls controlled the price action around the key level of 1.0550-1.0600, leading to more bullish continuation towards 1.1000 and 1.1200. The recent bullish movement pursued towards the resistance zone around 1.1200 where lack of bullish momentum seemed to exist. On the other hand, the recent bearish pullback was facing a temporary support around […]
The GBP/USD pair has shown signs of bearish rejection just below 1.3200, initiating the recent bearish movement. After bearish closure below the price level of 1.2800 on a H4 candlestick, it continued to fall toward 1.2500 where the depicted uptrend line comes to meet a significant Fibonacci Level. This should be considered for Intraday traders […]
Analysis of Tuesday’s trades: GBP/USD 1H chart Following the outcomes of the second trading day of the week, GBP/USD demonstrated more of a bearish trend. Although we have been forecasting a resumption of an upward correction for the pound, its macroeconomic backdrop today stood somewhat distinct from that of the euro. While the European currency […]
Analysis of Tuesday’s trades: EUR/USD 1H chart On Tuesday, the EUR/USD currency pair demonstrated a pronounced volatility, underpinned by a flurry of macroeconomic indicators. We had previously cautioned traders about the anticipated release of significant economic data. While these weren’t expected to elicit a robust market reaction, they certainly had the potential for moderate market […]
Neither strong macro statistics in the United States nor the rise in U.S. Treasury yields, nor concerns about the Italian budget and the crisis in the Middle East have prevented the “bulls” on EUR/USD from continuing their counterattack. Speculators are gradually reassessing their positions on the euro, believing that many “bearish” factors are already priced […]
The price of Bitcoin is located at 28,561 at the time of writing and it seems determined to extend its growth. As you already know, the crypto retreated after yesterday’s rally. It has climbed as much as 29,900 where it has found strong resistance. BTC/USD is up by 1.63% in the last 24 hours and […]
CHF/JPY: Uptrend Unharmed! The currency pair resumed its growth and now is trading at 166.29. The uptrend line represents a downside obstacle, so as long as it stays above it, the price could resume its growth. The former high of 166.53 (historical level) represents an upside obstacle. So, it remains to see how it reacts […]
As of writing, USD/CAD was trading near the level of 1.3630, practically at a significant short-term support level (200 EMA on the 1-hour chart). Furthermore, the pair is developing an upward trend, trading in the zone of medium-term (above the 1.3440 support level, 200 EMA on the daily chart), long-term (above the 1.3145 support level, […]
Despite the sharp rise in oil prices amid events in the Middle East, the Canadian dollar has failed to gain significant support. The USD/CAD pair still maintains its positive long-term and medium-term dynamics despite the decline over the past two trading days. Today at 12:30 GMT, fresh inflation data for September will be published in […]
The wave analysis on the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we’ve only seen three-wave structures that constantly alternate with each other. In recent months, I’ve regularly mentioned that I expect the pair to reach around the 1.5 figure, from where the construction of the last upward three-wave […]
Early in the American session, Gold (XAU/USD) is trading around 1,924.42, bouncing above the 21 SMA located at 1,919. During the Asian session, XAU bounced around 1,912 and continued to rise. Now, it has gained more than $12 and is showing a resumption of the upward trend. According to the 1-hour chart, gold has bullish […]
EURUSD bounces up, tests bullish channel The way above 1.0600 may not be easy EURUSD is re-examining its bullish capabilities after bouncing off the 1.0500 round level on Monday, postponing a return to its recent 10-month low of 1.0447. The price pivoted higher with scope to close above the 20-day exponential moving average (EMA) and […]
AUDUSD rotates higher but short-term bias not bullish yet Current resistance at 0.6360; bulls want a rally above 0.6430 China’s Q3 GDP growth figures could move aussie pairs AUDUSD saw fresh buying interest last week near the falling trendline from March 2023. This has increased optimism for the pair to rise towards the resistance […]
The price of gold is trading in the green at 1,929 at the time of writing. The bias is bullish, so further growth is natural. Technically, after such an impressive growth, a correction was natural. The USD’s short-term depreciation helped XAU/USD to hit new highs. Fundamentally, Gold remains bullish as the Canadian and New Zealand […]
Red lines- bearish channel Green line -support trend line GBPUSD is trading around 1.2150. Trend remains bearish as long as price stays inside the red downward sloping channel. Recently price got rejected at the upper channel boundary and so far has formed a higher low. The green support trend line connecting the recent lows is […]
Netflix reports financial results on Wednesday after the closing bell Revenue and earnings set to grow despite stock slide in Q3 Valuation at considerably high levels Poor third quarter jeopardises a solid year Undoubtedly, Netflix has been the best performer in the streaming sector in 2023 as its competitors have been struggling to achieve profitability. The […]
Green line- support trend line Yellow rectangles- horizontal support Blue rectangle- target area USDJPY is trading around 148.77. Trend remains bullish as price continues making higher highs and higher lows above the green upward sloping support trend line. Recent price action with long lower tailed candlesticks suggest that the trend is supported. Price continues making […]
Red lines-bearish channel Blue rectangle- short-term support EURUSD is trading around 1.0550. Earlier today bulls tried to push price higher towards the upper channel boundary at 1.0602. Bulls failed. Price remains inside the red downward sloping channel it was in. After the rejection at 1.0640 price is under pressure. New lows should be expected, specially […]
The GBP/USD pair is trading at 1.2138 at the time of writing and it seems determined to hit new lows. In the short term, it has tried to rebound as the Dollar Index retreated a little. Now, the DXY rallied, boosting the greenback. The bias remains bearish despite temporary rebounds. Fundamentally, the UK Average Earnings […]
Red lines- bearish channel Gold price is trading around $1,921. After the strong bounce last Friday from $1,868 to $1,932, Gold price is now consolidating near its recent highs. This is important resistance area because here we also find the upper channel boundary. Gold longs are still not out of danger. Price remains inside the […]
Let’s take a look at the technical picture of EUR/USD, AUD/USD, USD/CAD and Bitcoin. 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…Bitcoin holds above $70,000 as halving event looms – […]
Labour market statistics coming up on Thursday (00:30 GMT) RBA minutes firmly opened the door for a November rate hike Aussie bulls are desperately looking for a push higher against the US dollar RBA paused but minutes tell a different story Conforming with the key central banks globally, the Reserve Bank of Australia kept its […]
In my morning forecast, I emphasized the level of 1.2185 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. A breakout and a subsequent retest of this range generated a sell signal, resulting in a significant drop and allowing traders to capture about […]
The AUD/USD currency pair is demonstrating a corrective rise following an impulsive decline observed last week (the low was fixed at the 0.6290 mark). The pair has been rising for the second consecutive day, paying no attention to the conflicting dynamics of the greenback. The U.S. Dollar Index this week has been unable to determine […]
In my morning forecast, I drew attention to the level of 1.0538 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The decline and the formation of a false breakout at 1.0538 led to an excellent entry point for long positions, resulting in […]
The EUR/USD pair reversed its direction on Monday, moving back to the corrective level of 161.8% (1.0561), bouncing off of it, and turning in favor of the US dollar. Therefore, the downward trend may continue today towards the level of 1.0489. If the pair’s rate consolidates above the 1.0561 level, it will favor the European […]
On the hourly chart, the GBP/USD pair reversed in favor of the British on Monday and rose above the level of 1.2175. However, today there was a return to the level of 1.2175, and if it holds below, it will favor the US dollar and further decline towards the levels of 1.2112 and 1.2039. The […]
Analysis of transactions and trading tips on GBP/USD Further decline became limited because the test of 1.2157 coincided with the sharp downward movement of the MACD line from zero. The decrease in UK average earnings led to a sell-off of pound, which may intensify today after the release of strong US statistics. Any increase in […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0552 earlier in the day took place when the MACD line moved upward from zero, prompting a signal to buy. However, no strong price increase occurred, resulting in losses. Fairly good data from the ZEW for Germany and the eurozone helped euro return to […]
