CADJPY remains within a range despite hitting new high Upside risks exist above 111.50; bears could take the lead below 110.40 BoC rate decision at 13:45 GMT is the highlight of the Canadian calendar CADJPY remained stagnant after entering the 112.00 area, keeping its weak momentum despite reaching a new high of 112.46 last […]
USDJPY trades sideways a tad below 152.00 This level was protected by Japanese authorities in 2022 Momentum indicators approach overbought conditions USDJPY has been in a steady uptrend after finding its feet at the 200-day simple moving average (SMA) in early March. In the near-term, the pair has been trading flat after posting a fresh 34-year high of 151.95, […]
US Dollar and stocks are in the green today ahead of the key US CPI report All eyes will be on equites if CPI surprises on the upside RBNZ remains hawkish; BoC could show a dovish tilt Dollar and stocks in the green ahead of US CPI The US dollar is higher today as the […]
EURUSD trades sideways between 1.0725 and 1.0930 Oscillators confirm the lack of directional momentum A move above 1.0930 may be needed to brighten the outlook EURUSD pulled back on Tuesday, after hitting resistance slightly above the 1.0875 barrier, marked by the high of April 4. In the bigger picture, most of the price action has […]
Gold holds within upper Bollinger band range MACD and RSI indicate bearish retracement Gold is attempting to test yesterday’s record high of 2,365 again with the technical oscillators holding near their overbought territories. The MACD oscillator is falling beneath its trigger line well above the zero level, while the RSI is ticking slightly lower, remaining […]
Analyzing Tuesday’s trades: GBP/USD on 1H chart The GBP/USD pair continued its upward movement, which began last week after traders failed to break out of the 1.25-1.28 sideways channel. An ascending trend line was formed, and according to the laws of the flat, the price may now move towards the upper boundary of the sideways […]
Analyzing Tuesday’s trades: EUR/USD on 1H chart EUR/USD tried to continue its upward movement, although it had no substantial reason to do so (neither fundamental nor macroeconomic). Yesterday, there were absolutely no reports, news, or speeches. Volatility was low again, but even in such conditions, the euro continued to edge up. From a technical perspective, […]
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EUR/USD The euro continues to jump this week, as the European Central Bank meeting is set to take place tomorrow. The price has not yet reached the MACD line on the daily chart. Perhaps this was influenced by the Marlin oscillator, which moved down from the zero line. At the moment, the price is slightly […]
GBP/USD Yesterday, the British pound managed to consolidate above the embedded green channel line. But at the same time, the price remains below the balance indicator line, which tells us about the corrective nature of the pound’s highly volatile movements. The signal line of the Marlin oscillator stopped rising at the border of the uptrend […]
AUD/USD On Tuesday, the Australian dollar managed to break away from the daily MACD line and was able to rise above the target level of 0.6627. This morning, the price is staying exactly at this level, while the Marlin oscillator is slightly moving downwards. Good prospects lie ahead: 0.6690, 0.6730, 0.6780, 0.6874. Tomorrow’s European Central […]
On Tuesday, ahead of the release of key inflation data, the Nasdaq and S&P 500 indices showed moderate growth, despite a decline in the financial sector. This happened ahead of the reporting season for leading US banks, which begins on Friday. The Nasdaq Composite, supported by strength in semiconductors, posted a notable gain, while the […]
EUR/USD pair is trading around 1.0852, below the strong resistance of 4/8 Murray located at 1.0864, and below the 21SMA located at 1.0859 showing signs of exhaustion. On the H1 chart, we can see the formation of a symmetrical triangle pattern which makes us think that the euro could be trading within this pattern between […]
Gold is trading around 2,348, bouncing after having reached a daily low of around 2,338. Yesterday during the European session, gold reached a new high at 2,365 and from this level, it made a technical correction. However, the bullish force is still prevailing. So, if the technical rebound continues in the next few hours, the […]
NZDUSD shows recovery signs ahead of RBNZ decision Resistance near 0.6070; support at 0.6000 NZDUSD entered the week on a positive note as investors awaited to hear the RBNZ’s policy update during Wednesday’s Asian trading hours. The pair stretched Monday’s rebound marginally above the 200-day simple moving average (SMA) to examine the 50% Fibonacci […]
Gold is trading around 2,346.43, retreating after reaching a new high of 2,365.54. This area below 2,375 is considered strong resistance since there is 6/8 Murray, a weekly and monthly resistance. A strong technical correction is expected to occur in the next few hours as we observe the formation of a Doji candle pattern which […]
Dovish BoE encourages more rate cut bets UK GDP for February expected to reveal slowdown The data comes out on Friday at 06:00 GMT Investors add to June rate cut bets after BoE decision With inflation in the UK coming down faster than previously expected, the Bank of England (BoE) appeared more dovish than expected […]
Despite increased demand for riskier assets, the European currency’s bullish run is expected to be limited shortly. The primary reason for this scenario is that ECB officials are gradually preparing for the first interest rate cut, which could occur as early as June this year, especially amid rapidly slowing inflation. Despite increased demand for riskier […]
The euro-dollar pair continues to hold within the range of the 8-figure as it awaits key events of the week. Following yesterday’s decline, the price has returned to previous positions. However, one should approach the current price fluctuations with a considerable degree of skepticism, as the outcomes of the ECB’s April meeting and (especially) the […]
EURUSD recovers somewhat above 1.0800 But MACD and RSI rebounds lose steam EURUSD recorded a stunning rally last week, surpassing the flat simple moving averages (SMAs) following the bounce off the medium-term tentative uptrend line. This week, though, the pair is on the backfoot and the technical indicators suggest that the market could ease a […]
BoC monetary report due on Wednesday 13:45 GMT, press conference at 14:30 GMT Interest rates to remain steady this time, but policymakers might support a June rate cut USDCAD maintains soft uptrend, needs a clear close above 1.3600 to rally BoC closer to its inflation goal than its major peers The Bank of Canada […]
We introduce you to the daily updated section of Forex analytics where you will find reviews from forex experts, up-to-date monitoring of financial information as well as online forecasts of exchange rates of the US dollar, euro, ruble, bitcoin, and other currencies for today, tomorrow and this trading week. Video Agenda: 00:00 INTRO 00:13 Totay’s […]
Potential for the breakout on USD/JPY The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Gold shines bright, yen knocks on… April 9, 2024 Gold prices remain near record highs – is the rally…Trading plan for GBP/USD on April 9. Simple tips for… April 9, 2024 Analyzing Monday’s trades:GBP/USD on […]
EURJPY rebounds off uptrend line Price holds above SMAs Oscillators indicate more bullish movements EURJPY is climbing higher after the turning point near the medium-term ascending trend line and is moving towards the 16-year high of 165.36. The market has been developing within an uptrend since December 7 with the technical oscillators confirming an upside […]
Gold prices remain near record highs – is the rally overstretched? Yen hovers at multi-decade lows, FX intervention still on the radar Dollar inches lower, stocks trade sideways, RBNZ meeting next All that glitters is gold The world’s oldest safe-haven asset has gone on a tear this year, rising more than 13% to reach consecutive […]
AUDUSD bounces off 200-period SMA RSI suggests some losses AUDUSD created consecutive green days after the bounce off the 0.6550 support level, which overlaps with the 200-period simple moving averages (SMAs) in the 4-hour chart. According to the technical oscillators, the RSI is moving marginally down in the positive region, while the MACD is still […]
GBPUSD trades sideways between parallel SMAs Remains within its medium-term neutral pattern Momentum indicators improve but stay in negative zones GBPUSD experienced a strong decline following its break above the rangebound structure in place since November. Despite the temporary violation of the 200-day simple moving average (SMA), the pair reversed back higher before the 50-day SMA curbed […]
Analyzing Monday’s trades: GBP/USD on 1H chart The GBP/USD pair edged up on Monday, which doesn’t mean anything significant for the technical picture. Take note that the main point is the flat on the 24-hour timeframe. Not long ago, the price reversed near the lower boundary of the sideways channel at 1.25-1.28, so now, over […]
Analyzing Monday’s trades: EUR/USD on 1H chart EUR/USD returned to its usual mode of movement amid low volatility. In general, if we regularly observe low volatility even on days when there is a strong fundamental background, then what can we possibly say about Mondays, when there are usually no news or reports? Yesterday, the German […]
EUR/USD Yesterday, market sentiment among speculators was neutral; S&P 500 -0.04%, Nasdaq 0.03%. German industrial production increased 2.1% in February against expectations of 0.6%, and the Eurozone Sentix Investor Confidence Index rose from -10.5 in March to -5.9 in April. As a result, the euro expanded its consolidation range in anticipation of the European Central […]
