Analyzing Monday’s trades: GBP/USD on 30M chart GBP/USD also tried to continue its upward movement on Monday. However, it didn’t have any good reasons to support the upward movement. In the second half of the day, the price gradually went back to the opening levels. So, the short-term uptrend persists, but it mainly consists of […]
Analyzing Monday’s trades: EUR/USD on 30M chart On Monday, EUR/USD tried to continue its upward movement, which started on Friday, but the bullish enthusiasm quickly waned. This is not surprising since there was a specific macroeconomic background for the euro’s rise and the dollar’s fall on Friday, but there was basically nothing important on Monday. […]
The most interesting price movement happened on Friday. On the same day, the market received a very important and intriguing set of reports, which allows us to draw certain conclusions. For instance, the U.S. labor market shows signs of losing momentum, unemployment is rising, and business activity is not as strong as one would hope. […]
The latest CFTC report remained almost unchanged in terms of speculative positioning on major world currencies compared to the previous week. We can only highlight the noticeable increase for the Australian dollar (+520 million), while changes in speculative positions for other currencies such as CAD, EUR, CHF, and NZD were purely symbolic. As a result, […]
The AUD/USD pair reached a two-month price high, testing the 0.6520 mark. The last time AUD approached the 0.65 level was in September, but back then, AUD/USD bulls couldn’t consolidate in that price range. It’s worth noting that the increase is not solely due to the US dollar’s broad weakness. Hawkish expectations regarding the Reserve […]
The unexpected rise in Germany’s industrial orders by 0.2% MoM in September provided a new impetus for the “bullish” attacks on EUR/USD. The indicator has been increasing for the second consecutive month, reducing concerns about the future of the German economy. In the third quarter, it contracted by 0.1%, but the situation may improve in […]
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 then 1.2600 support levels on a H4 candlestick and extended its decline towards 1.2500 where the pair showed some indecision in a tight range before resuming its bearish trend. The next target for the bears was located […]
First outlook : The GBP/USD pair broke resistance which turned to strong support at the level of 1.2107 this week. The level of 1.2107 is expected to act as major support today. From this point, we expect the GBP/USD pair to continue moving in a bullish trend from the support levels of 1.2107 and 1.2140. […]
SPX is trading around 4,367 today, having started the week on a positive note, as it was ended last week. Price is challenging the Daily Kumo (cloud) resistance. The area around 4,370 is very important resistance and a daily close inside the Kumo would turn trend to neutral from bearish. The tenkan-sen (red line indicator) […]
Red lines- bearish channel Blue lines- Fibonacci retracement levels Eurostoxx50 index has started the week on a negative note. In previous posts we warned traders that the bounce in the Eurostoxx50 index has reached very important channel resistance. Price was challenging the upper channel boundary and today we have rejection signs. Price got rejected at […]
Blue lines- Fibonacci retracement levels Gold price is trading around $1,982. Price has started the week on a negative note. Over the last few trading sessions price is showing a slowing down of the bullish momentum and signs of a possible short-term top and reversal. So far no reversal has been confirmed. With the RSI […]
Blue lines- Fibonacci retracement levels Black line- support trend line Red line- resistance trend line (broken) EURUSD is trading around 1.0740. The week has started on a positive note, exactly as it has ended. Price made a new higher high today getting even closer to the first important Fibonacci retracement resistance at 1.0766. This is […]
Red line- major resistance trend line Blue lines- Fibonacci retracement levels Yellow rectangle- resistance (broken) Black line- major support trend line XRPUSD is currently trading above $0.70. Recently XRPUSD provided us with a bullish reversal signal when price broke above the horizontal resistance area around $0.55. Short-term trend is bullish as price is making higher […]
UK GDP in focus this week; pound could significantly benefit RBA meeting and Chinese data could push aussie even higher vs. the US dollar USDJPY could break below its upward trending channel if Japanese data improve 0:00 Intro 0.31 EUR/GBP 3:09 AUD/USD 6:17 USD/JPY For more information on the topics discussed in this video, including […]
AUDUSD claims 0.6400 zone after fast rally Short-term bias positive, but there are more threats higher RBA to raise interest rates, but the aussie may not gain AUDUSD breached the tough 0.6430-0.6450 zone with strong momentum to rise straight up to the August bar of 0.6520 last Friday. The possibility of a rate hike […]
Last Friday, the pair formed several signals to enter the market. Let’s have a look at what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.2184 as a possible entry point. A fall to this level and its false breakout generated a good entry point into long positions, sending […]
UK GDP in focus this week; pound could significantly benefit from a strong print RBA meeting and Chinese data could push aussie even higher against the US dollar USDJPY could break below its upward trending channel if Japanese data improve UK GDP Q3 print -> EURGBP The Bank of England kept its main bank rate […]
When the central bank puts an end to the cycle of rate hikes, the markets start anticipating rate cuts. Unlike the Federal Reserve, the Bank of England has made it clear that it won’t rush to ease its monetary policy, regardless of how the British economy may feel. This, along with disappointing October employment data […]
In my morning forecast, I drew attention to the level of 1.2390 and recommended using it as a reference for trading decisions. Let’s examine the 5-minute chart and analyze what happened there. The rise and the formation of a false breakout at this level provided an excellent entry point for short positions, but after a […]
In my morning forecast, I pointed out the level of 1.0748 and recommended using it as a reference for market entry decisions. Let’s examine the 5-minute chart and analyze what happened there. The rise and the formation of a false breakout occurred at this level, but as you can see, there are very few sellers […]
The EUR/USD pair resumed its upward movement on Friday, consolidating above the level of 1.0714. Thus, the euro’s quotes may continue to rise towards the corrective level of 38.2% (1.0765). A rebound from this level or a close below 1.0714 will favor the US dollar and mark the beginning of a decline towards the Fibonacci […]
On the hourly chart, the GBP/USD pair continued its upward movement on Friday, consolidating above the levels of 1.2250 and 1.2336. Thus, the upward movement may continue towards the next corrective level of 127.2% (1.2440). The consolidation of quotes below the level of 1.2336 will favor the US dollar and mark the beginning of a […]
The EUR/USD pair started the trading week fairly calmly. During the Asian session on Monday, sellers attempted to push for a downward correction, but this attempt failed. EUR/USD bears managed to reach only the level of 1.0724, where they lost their initiative. It’s also worth noting another significant point: the absence of a downward gap. […]
GBP/USD Brief Analysis: The direction of the short-term trend of the British pound sterling has been defined by a bearish wave since mid-July of this year. In the structure of this wave, the middle part (B) started on October 4th. At the end of the previous week, quotes moved upward from the border of a […]
Analysis of transactions and trading tips on GBP/USD Further growth became limited because the test of 1.2396 coincided with the sharp upward movement of the MACD line from zero. Pound continued to be in an upward trend even in the face of weak activity data on the UK construction sector. And even though the upcoming […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0749 occurred when the MACD line moved sharply upward from zero. This, along with the overbought conditions and the proximity to monthly highs, limited the upward potential of the pair. Shortly after, another test took place, but this time the MACD lies in the […]
AUDJPY enjoys fastest weekly growth since June Risk skewed to the upside, but gains could be limited RBA policy announcement due on Tuesday at 03:30 GMT AUDJPY has turned its eyes back to June’s peak of 97.65 after a constructive week of strong gains. The RSI and the stochastic oscillator are warning that the latest […]
EUR/USD Analysis: In the short term, an ascending wave structure is relevant. For the main trend, this is a correction. It has been counting since the end of September and has not been completed yet. The wave extremes form a shifting plane on the chart. The structure appears to be complete, but there are no […]
