Analysis of transactions and tips for trading USD/JPY The test of 149.51, coinciding with the downward movement of the MACD line from zero, prompted a sell signal that led to a price increase of around 15 pips. The Bank of Japan continues to control the currency basket around 150, so expecting a strong surge of […]
Analysis of transactions and tips for trading GBP/USD The first test of 1.2172 coincided with the rise of the MACD line from zero, prompting a signal to buy. However, strong retail sales data in the US prevented the pair from continuing its upward correction. Later on, when sellers realized that the US data actually showed […]
Analysis of transactions and tips for trading EUR/USD The test of 1.0565 took place when the MACD line moved upward from zero, prompting a signal to buy. This resulted in a price increase of around 30 pips, but did not reach the target resistance level. Business sentiment data from the ZEW Institute for Germany and […]
Technical analysis: Gold has been trading upside and I found breakout of the triangle pattern in the background, which is good confirmation for the higher prices. Due to the upside momentum and no signs for the reversal, I see potential for the further growth towards next upside objective. Upside objective is set at the price […]
Despite receiving decent economic reports, the dollar continued to lose ground due to the escalating Palestinian-Israeli conflict. The recent data initially strengthened the US dollar. The forecasts were entirely negative, but retail sales, which were expected to slow from 2.5% to 1.9%, increased from 2.9% to 3.8%. So, the data itself is excellent, and the […]
Technical analysis: GBP/USD has been trading sideways at the price of 1.2200 and I see the triangle pattern is in creation and that there is potential for the breakout or rejection of the resistance. In case of the breakout of the resistance at the price of 1.2220, there is the chance for the upside movement […]
USDJPY edges lower as market focuses on geopolitical events Quieter sessions lately but risk of intervention remains at large Momentum indicators continue to send mixed signals USDJPY is in the red today as market participants’ attention is monopolized by geopolitical developments and the increased risk of another oil price rally. The pair is experiencing a period […]
Analysis of GBP/USD 5M Instead of rising, GBP/USD extended losses on Tuesday, as UK data exerted pressure on the pair. Reports on wages, unemployment, and unemployment claims were supposed to be published, but only a report on wages was released. UK wages remained strong, which is in clear contrast to Huw Pill’s words about declining […]
Analysis of EUR/USD 5M EUR/USD traded positively on Tuesday, but the nature of the movements was quite chaotic. The pair changed direction several times throughout the day, which was confusing. However, the constant reversals were justified by the macroeconomic and fundamental background. We mentioned a day ago that all the economic reports aren’t highly important, […]
EUR/USD Higher Timeframes Yesterday, bulls continued to maintain their initiative; however, significant results are still lacking. The center of attraction, at the moment, is the daily short-term trend (1.0562), while other nearby reference points retain their significance and positions. Bullish players still face the daily Ichimoku cross (1.0571 – 1.0609 – 1.0647), reinforced by the […]
The EUR/USD chart currently shows bearish momentum, indicating the potential for a bearish reaction at the 1st resistance level, with a target towards the 1st support level. The 1st support at 1.0493 is significant as it aligns with an overlap support and the 78.60% Fibonacci Retracement level. Additionally, the 2nd support at 1.0450 is identified […]
The USD/JPY chart currently shows bearish momentum, indicating the potential for a bearish reaction at the 1st resistance level, followed by a decline towards the 1st support level. The 1st support at 149.39 is significant as it aligns with an overlap support, while the 2nd support at 148.93 is also an overlap support and coincides […]
The XAU/USD chart currently has a bearish momentum, indicating the potential for a bearish reaction at the 1st resistance level, followed by a drop towards the 1st support level. The 1st support at 1904.44 is significant as it aligns with a pullback support, and the 2nd support at 1885.88 also serves as a pullback support, […]
Recently, the US market has been experiencing unusual fluctuations. Summarizing the last trading day, it’s worth noting that US retail sales in September exceeded all forecasts. However, the profits of the country’s two largest banks diverged: Bank of America’s profit soared, while Goldman Sachs’ decreased. A highlight of the day was the statement from the […]
Hope for the best, but prepare for the worst. In regards to the conflict in Israel, analysts at JPMorgan said there had been no immediate impact on global oil production. A substantial surge in oil prices is not expected unless there is an escalation. However, a broadening of the conflict may lead to disruption in […]
Analysis of macroeconomic reports: There’s a full plate of macroeconomic events slated for Wednesday. The UK is set to release the most critical report of both the day and week: September’s inflation figures. Although the Consumer Price Index (CPI) no longer exerts the same level of influence over the central bank’s monetary policy and, by […]
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 […]
