Yesterday, the pair formed some great market entry signals. Let’s have a look at what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.2161 as a possible entry point. A decline and false breakout at this mark produced a great buy signal, sending the pair up by 40 pips. […]
Crypto Industry News: The outstanding football team from Bulgaria, PFC Botev Plovdiv, is introducing a modern payment method for its fans. From now on, club supporters have the opportunity to pay with Bitcoin cryptocurrency. This applies to purchases in souvenir shops and catering outlets at the stadium. Anton Zingarevich, president of the club, expressed enthusiasm […]
Crypto Industry News: St.Galler Kantonalbank (SGKB), one of the largest banks in Switzerland, is entering the world of cryptocurrencies by introducing the possibility of trading Bitcoin and Ethereum for its customers. SGKB has partnered with global cryptocurrency-focused bank, SEBA Bank, to offer digital asset custody and brokerage services to its clients. Announcing the news on […]
Technical Market Outlook: The GBP/USD pair has been seen developing the Bearish Pennant price pattern on the H4 time frame chart, which might result in a breakout to the downside soon. The intraday technical resistance is located at 1.2222 and the intraday technical support is seen at 1.2094. The momentum on the H4 time frame […]
Technical Market Outlook: The EUR/USD pair had bounced from the level of 1.0524 and broke out above the 50 and 100 MA zone around 1.0590. The traders are positioning themselves ahead of the NFP-Payrolls data release this afternoon, so the volatility might be lower than usual and the market should be trading inside the range. […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move upward from the level of 1.2197 (closing of yesterday’s daily candle) to 1.2264, the 23.6% pullback level (yellow dotted line). In the case of testing this level, a continued upward movement is possible with a target at 1.2291, the 14.6% pullback level (yellow dotted line). […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move upward from the level of 1.0620 (closing of yesterday’s daily candle) to 1.0682, the upper limit of the Bollinger Band indicator (black dotted line). In the case of testing this level, a continued upward movement is possible with a target at the 1.0713 resistance level […]
USDCAD in the red after reaching 3-year high Aggressive rally since the July 14 low of 1.3091 Momentum indicators appear to support the current downleg USDCAD is moving lower today, registering its third consecutive red candle after trading at a 3-year high of 1.3898. It has been an aggressive rally from the July 14 low […]
The 10Y US Treasury yield bottomed at the onset of the COVID-19 pandemic in March 2020 at 0.33%. Since then, it has rallied nicely in five waves confirming that a long-term bottom is in place. That of course doesn’t mean we will just see the 10Y yield rally all the time. We are clearly in […]
Analysis of GBP/USD 5M On Thursday, the GBP/USD pair showed movement that closely resembled a flat. Although the British pound traded slightly higher by the end of the day, it was a conditional growth at best. On the hourly chart, it’s clear that it recently ended a downward movement. This suggests that the pair could […]
Analysis of macroeconomic reports: Friday has enough macroeconomic events for both pairs to have an active day. Unfortunately, there were plenty of events in the last couple of days, but all we saw were movements with average volatility within the flat trend. Therefore, it would be quite challenging to hope for the market to wake […]
On the four hour chart, BCH/USD Cryptocurrency pairs seems there is a deviation between its price movement with Awesome Oscillator indicator which which coincidentally also touches the level of the Bullish Fair Value Gap area and the Lower Bollinger Band so that in the near future BCH/USD has the potential to appreciate in an upward […]
With the appearance of the hidden deviation between Litecoin price movement on the four hour chart with Stochastic Oscillator indicator, then in the near future, Litecoin has the potential to appreciate upward to the level 70,49 as the main target and the level 72,75 as the second target, unless if on the way to those […]
EUR/USD Higher Timeframes Bulls continue to make efforts and strive to achieve results. The obstacles in their path are currently concentrated in the resistance zone of 1.0614 – 1.0628 – 1.0653 – 1.0665 (monthly medium-term trend + weekly levels + the lower boundary of the daily cloud). Breaking through these boundaries is the first step […]
We can draw two conclusions following the outcome of the Federal Reserve’s November meeting. The first conclusion is the Fed’s willingness to resort to additional interest rate hikes. The second conclusion is the exact opposite of the first. It boils down to the fact that the Fed views further tightening of monetary policy as a […]
Should we move on? This question, according to Jerome Powell, was raised by the members of the FOMC during the meeting on October 31 – November 1. A rate hike on federal funds after two consecutive pauses is still possible, but progress in combating inflation reduces the chances of resuming the monetary restriction cycle. The […]
Blue lines- Fibonacci retracement levels Yellow line- bearish RSI Divergence Gold price is trading around $1,982. Since October 20th, Gold price is mostly moving sideways. Price made a higher high at $2,008 and a low at $1,962 since the end of October. The 23.6% Fibonacci retracement has not be broken. Price has made no real […]
Red line- resistance Black line -support EURUSD is trading around 1.0620. Price tested yesterday the black upward sloping support trend line. Bulls managed to defend the support at 1.0535 and pushed EURUSD towards the 1.0668 level which was today’s high. EURUSD formed another lower high and is showing rejection signs. There are increased chances that […]
Red lines- bearish channel Blue lines- Fibonacci retracement levels Eurostoxx50 index is trading around 4,185. In our last analysis on this index we mentioned that a double bottom around the 38% Fibonacci retracement support will most probably lead to a bounce towards the upper channel boundary. The Eu50 index is now challenging the bearish channel […]
Orange rectangles- similar pattern expected Green rectangles- overbought levels Red line- support trend line Blue lines- Fibonacci retracement levels Black lines- expected price path Bitcoin is trading around $34,967. Short-term trend remains bullish as price continues making higher highs and higher lows. Bitcoin price earlier today touched the short-term target at the 38% Fibonacci retracement. […]
GBPUSD cannot sustain strength above 1.2200 Short-term outlook remains grim Bank of England holds interest rates and guidance steady The Bank of England’s decision to keep interest rates and its guidance for “higher for longer rates” unchanged on Thursday prevented GBPUSD from breaking out of the bearish channel at 1.2170 or from rising above the broken […]
Share price jumps more than 10%, hits 200-day SMA But formation of doji candlestick raises doubts about new uptrend Starbucks stock shot higher on Thursday, opening with a gap higher, after the company reported much stronger-than-expected earnings results for the third quarter. The jump has taken the price above all the simple moving averages (SMA). However, […]
Early in the American session, EUR/USD was trading around 1.0652 with a bullish bias. Yesterday in the American session, the instrument reached the psychological level of 1.05 and from there, it is bouncing. On the daily chart, we can see that the euro is above the 21 SMA and below the 200 EMA. The daily […]
RBA could announce a 25bps rate hike at its November meeting Hawkish bias could be maintained if quarterly forecasts revised higher Aussie/dollar’s current upleg could pick up speed after RBA meeting The meeting statement will be released on Tuesday at 03:30 GMT RBA ready for action The Reserve Bank of Australia is preparing for its 10th rate-setting meeting for 2023. […]
Bitcoin posts fresh 18-month high on Thursday Fed’s neutral stance boosts risk sentiment Are cryptos reestablishing correlation with traditional assets? Cryptos shine as Fed holds rates unchanged Unlike what has been happening lately, macroeconomic forces were the main drivers behind moves in the cryptocurrency space this week. Specifically, Bitcoin and most altcoins surged after the […]
US 100 gains bullish impetus after bouncing near 200-SMA Short-term bias shows improvement, but uncertainty remains A bullish reversal or a dead cat bounce? The US 100 stock index (cash) picked up steam on Wednesday, extending its bounce off a five-month low of 14,057 to a high of 14,833. The price is currently aiming for […]
The euro and the pound sterling grew after the Federal Reserve made it clear that rising long-term Treasury yields were reducing the incentive for further interest rate hikes this year, even though Chairman Jerome Powell left the door open for a new increase to curb inflation. Altough Powell noted that policymakers might still raise rates […]
XM could not be prouder of the assistance we provided to the Manny Pacquiao Foundation, on September 28. Our donation will go to an extremely noble cause, supporting the Cameleon Association, which specializes in the care and rehabilitation of young girls who have been unfortunate victims of abuse and exploitation. By being provided with counselling […]
US stock index futures are rising, continuing the bullish trend from the previous day. The S&P 500 futures have climbed by 0.3%, while the tech-heavy NASDAQ has leaped by 0.5%. The industrial Dow Jones Index has posted a modest gain of 0.2%. Traders seem convinced that the Fed is nearing the end of its historic […]
Analysis of trades and trading tips for the British pound The initial test of the price at 1.2161 occurred when the MACD indicator was in the overbought area, which clearly limited the further downside potential of the pair. For this reason, I refrained from buying the pound. The second test of this level shortly afterward […]
