On Thursday, the EUR/USD pair secured itself above the inconsequential retracement level of 161.8% (1.0561). However, on Friday, it couldn’t continue the upward movement towards the level of 1.0637. A rebound today from the level of 1.0561 will again make us anticipate some growth towards 1.0637. But I would like to remind you that the […]
Gold rose in price amid the ongoing conflict in the Middle East. The latest weekly gold review indicated the very optimistic view of retail investors, contrary to that of market analysts who expect a pullback after a sharp two-week surge. Ole Hansen, Head of Commodity Strategy at Saxo Bank, said prices will likely consolidate this […]
On the hourly chart, the GBP/USD pair executed a new drop on Friday towards the level of 1.2106, bounced from it, turned in favor of the British pound, and returned to the level of 1.2175, which is not significant at this time. Movement during the past week has mostly resembled a horizontal one. Two bounces […]
US 100 cash index remains under bearish pressure Prepares to test the September lows as geopolitics dictate sentiment Momentum indicators point to a continuation of the current move The US 100 cash index is trying to record its fifth consecutive red candle for the first time since April. The bears continue to take advantage of the […]
Let’s take a look at the technical picture of GBP/USD, EUR/USD, Ethereum and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500… April 16, 2024 We introduce you to the daily updated section of Forex…Hot forecast for EUR/USD on April 16, 2024 April 16, […]
Potential for the breakout mode on the EUR/USD The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for April 18, 2024 April 18, 2024 Potential for the further drop on BTCUSDThe material has been…Market Comment – US dollar on the back foot as nervousness… April 18, 2024 Euro edges higher […]
Technical analysis: BTC/USD has been trading upside in the background and I found breakout of the important resistance at the price of $30.000, which is good sign for the further upside continuation. Due to the breakout of the resistance and the positive reversal on the RSI oscillator, I see potential for the further upside continuation […]
GBP/USD Brief Analysis: On the British pound chart, a large-scale descending wave has been forming since the beginning of September. Throughout October, a complex corrective pattern in the form of a shifting flat structure has been developing within the wave. At the time of the analysis, it did not show signs of completion. The price […]
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EUR/USD Analysis: In the short-term perspective, the price movement of the euro in the main pair is defined by the descending wave algorithm from September 26. The wave’s potential does not go beyond the correction of the previous bullish trend. Over the past month, the quotes of the pair have formed a complex corrective structure, […]
Stock markets get kneecapped by relentless rally in US yields Gold and oil prices lose steam amid lack of geopolitical escalation Euro/dollar stable ahead of key events, yen ignores BoJ reports Stocks get bruised The shockwaves from the seismic rally in US bond yields have started to cause tremors in the stock market. Shares on […]
The GBP/USD currency pair also traded on Friday, seemingly reluctantly, with volatility not being zero but still relatively low. The price remains below the moving average line, so the short-term downward trend persists. Nevertheless, we have a persistent feeling that the upward correction is not yet complete. First, the pair is declining, as if doing […]
Technical analysis: Gold has been trading upside this morning and I found rejection of the support zone at $1.961 and there is the chance for the higher prices. As long as the support zone around $1.957 can hold, higher prices might be in the play and the test of $1.997. The short-term trend is still […]
The EUR/USD currency pair showed absolutely no movement throughout Friday. Volatility amounted to 38 points, so there is essentially nothing to talk about. The price remained above the moving average line, but that does not necessarily imply a continuation of the upward trend. Over the past few weeks, the price has crossed the moving average […]
Last Friday, the pair formed several entry signals. Let’s have a look at what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.0586 as a possible entry point. A rise and a false breakout at this mark formed a sell signal, but the pair did not actively fall. In […]
Technical analysis: GBP/USD has been trading upside this morning and I found breakout of the supply trend-line which is good sign for the further rally. Due to the double bottom formation in the background and the breakout of the supply trend-line, I see potential for the further growth towards upside reference. Upside objective i set […]
Details of the Economic Calendar on October 20 Retail sales in the UK fell by 0.9% month-on-month in September, contradicting economists’ expectations, who had predicted a drop of only 0.1%. These negative data became an additional factor contributing to the continued decline of the British pound at the time of their publication. Analysis of Trading […]
The ECB rate-setting meeting dominates this week’s busy schedule Market does not expect a rate change; focus on statement and overall rhetoric Decision will be announced on Thursday 12.15 GMT, press conference at 12:45 GMT ECB travels to Greece for another meeting The European Central Bank is holding its penultimate meeting for 2023 on Thursday, […]
On October 7, we held a popular trading seminar in Santo Domingo about support and resistance. During the seminar, participants learned to recognize support and resistance levels for different time frames and for various financial instruments, from stocks and currencies to commodities and cryptocurrencies. In addition, advanced techniques to validate and confirm these levels were […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move upward from the level of 1.2159 (closing of Friday’s daily candle) to 1.2215, the 23.6% pullback level (red dotted line). From this level, the price may continue to move up. Fig. 1 (daily chart). Comprehensive analysis: Indicator analysis – up; Fibonacci levels – up; Volumes […]
Gold surges to a 5-month high on geopolitical tensions Retreats slightly before claiming the 2,000 psychological mark Momentum indicators suggest overbought conditions Gold has been in a steep uptrend after bouncing off its October low, jumping back above crucial technical regions such as the 200-day simple moving average (SMA) and posting a fresh five-month peak of […]
BoC expected to hold rates at 5.0% after surprise fall in CPI But persisting wage pressures mean future hike not off the table Quarterly forecasts also eyed when decision is announced Wednesday, 12:30 GMT No change in rates expected The Bank of Canada looks set to keep its overnight rate unchanged at 5.0% at its […]
Analysis of transactions and tips for trading USD/JPY No price tests occurred on Friday due to very low market volatility around 150. Data on Japan’s consumer price index also did not allow buyers to push the pair higher, because the central bank’s active actions around the psychological mark of 150 yen could lead to a […]
Analysis of transactions and tips for trading GBP/USD Further growth became limited because the test of 1.2140 coincided with the sharp rise of the MACD line from zero. Weaker-than-expected retail sales data in the UK led to a decline in pound. However, buyers seized the opportunity to buy at the weekly low, thereby maintaining market […]
Analysis of transactions and tips for trading EUR/USD The test of 1.0580 took place when the MACD line just started to move downward from zero, leading to a signal to sell. However, a sharp price decrease did not occur, as trading continued within the channel. EUR/USD did not move much because the PPI data in […]
On the weekly chart of NZD/uSD commodity currency pairs, it is clearly seen that the seller who dominates this currency pairs where we can see right now that Kiwi is trying to go to level 0.5679 where this is confirmed by the price movement being below Kumo, Future Kumo has also changed color to pink, […]
If we look at the daily chart, the Crude Oil commodity asset is currently seen moving upwards towards level 93.63, especially if it succeeds in breaking above level 90.86, where this is confirmed by the #CL price movement which is above Kumo and the appearance of the Bullish 123 pattern which is followed by the […]
EUR/USD Higher Timeframes The pair retained its position within the weekly cloud last week, so the top priority task for the bulls has stayed the same. They need to eliminate the death cross of the daily Ichimoku cloud (1.0627) while entering the bullish zone relative to the weekly cloud (1.0610). After this, they will have […]
The USD/JPY chart has a weak bearish momentum with low confidence, and there’s a potential scenario of a bearish move towards the 1st support at 144.94, which aligns with an overlap support. On the resistance side, the 1st resistance at 150.13 is a multi-swing high resistance, and beyond that, the 2nd resistance at 152.72 is […]
The EUR/USD chart has a bearish momentum, and there’s a potential scenario of a bearish reaction at the 1st resistance, targeting the 1st support. The 1st support at 1.0363 aligns with an overlap support and the 78.60% Fibonacci Retracement level. Additionally, traders may look for confirmation at the 1.0488 swing low support. On the resistance […]
