The USD/CHF pair turned to the upside in the short term and now is located at 0.8934 at the time of writing. From the technical point of view, the price action signaled an oversold situation, but a new leg higher is far from being confirmed. Fundamentally, USD received a helping hand from the US economic […]
Ripple climbed as much as 0.5860 today, registering a new high. Now, the altcoin erased some of today’s gains and now is located at 0.5500 at the time of writing. Bitcoin’s rally forced the altcoin to extend its leg higher. Still, after such an impressive growth, a retreat was natural. In the last 24 hours, […]
AUD/USD: Sellers Still In Game! The AUD/USD pair is trading at 0.6358 at the time of writing. As you can see on the H1 chart, the rate stands right below the downtrend line. As long as it stays below it, the rate could drop again. In the short term, it’s trapped between 0.6375 and 0.6347 […]
Technical market outlook (Bitcoin | BTC/USD) : If Bitcoin can stay above $30 k, it would mark an end to the recent pullback. Last week, Bitcoin fell remain within a framework of correction from the high price of $33 k to the bottom of 27,858 USD. Currently price sets at $32,630. Closing above the Pivot […]
In a weak economy, there can’t be a strong currency. Yes, the U.S. dollar has hit a rough patch; its previous advantages aren’t working anymore. But this is not enough for a significant correction in EUR/USD. The Eurozone must show signs of life, and unfortunately, that is not happening. In October, the composite Purchasing Managers’ […]
The wave analysis for the pound/dollar pair remains quite straightforward and clear. The construction of a new downtrend segment continues, and its first wave has taken on a fairly extended form. In my opinion, the British pound has no grounds for resuming an upward trend segment, so I do not even consider such a scenario. […]
The wave analysis of the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we have observed only three wave structures, which continually alternate with each other. Over the past few months, I have regularly mentioned that I expect the pair to approach the 1.2500 level, where the construction of the […]
Early in the American session, gold is trading around 1,964.94, below the 21 SMA, and above the 200 EMA. Since October 19, gold has been moving within a bearish trend channel. We have seen that in the last few hours, gold fell sharply towards the support zone of 1953. This fall in gold towards the […]
The USD/JPY pair is regaining its positive momentum and, last week, approached a multi-week high once again. On Friday, Bank of Japan Governor Kazuo Ueda confirmed that the central bank will aim to achieve the 2% inflation target, accompanied by wage growth, while maintaining the current accommodative policy. This indicates a significant divergence compared to […]
The preliminary European PMIs published this morning had a negative impact on the euro. Although some of the data presented were better than forecasts, overall, they indicated a continued economic slowdown in the Eurozone. In response to the data, the euro sharply declined, including against the dollar, even though the EUR/USD pair reached a local […]
EURUSD is trading around 1.0595-1.06. In Ichimoku cloud terms in the Daily chart, trend remains bearish as price is still below the Daily Kumo. Price recently broke above the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator). Price moved closer towards the cloud yesterday but today EURUSD is under pressure. EURUSD today is […]
Black line- resistance Blue line- support Bitcoin is breaking out above the $32,000 resistance. Bitcoin is trading around $35,000 price level as price is making new higher highs. Recent price action is bullish as the RSI is making new higher highs as well. If bulls manage to recapture the $36,000 level, then we should expect […]
Red line- major resistance trend line Black line- support trend line Yellow rectangle- horizontal resistance area Blue lines- trading range XRPUSD is trading around $0.57 today. Today’s price action is promising as price is breaking above the yellow rectangle resistance area and XRPUSD is also breaking above and out of the trading range it was […]
Blue lines- Fibonacci retracement levels Black line- bearish RSI divergence Gold price is trading around $1,964. Gold made a new lower low earlier today around $1,953 where we find the 23.6% Fibonacci retracement of the entire upward move from $1,809. Short-term trend remains bullish despite the recent pull back. This can just be a pause […]
Red lines- bearish channel GBPUSD is trading around 1.2178. Price earlier today made a high around 1.2287 just above the upper channel boundary, but the bullish momentum is not strong enough for price to break the bearish channel. On the contrary, price action today shows us a bearish rejection as price remains inside the downward […]
Dollar takes a step back ahead of quarterly US GDP data Risks seem tilted towards stronger-than-expected report GDP release is scheduled for 12:30 GMT on Thursday US economy outperforms It’s been a solid year for the American economy, which has performed well even in the face of sky-high interest rates. Economic growth seems to have […]
AUDUSD prints a bullish pattern but confirmation needed Technical signals reflect some caution AUDUSD held steady above the 10-month low of 0.6284 for the third time this month, indicating a potential bullish triple bottom pattern. The positive structure needs confirmation above the 0.6435 region, where the broken support trendline drawn from the 2020 trough and the […]
The euro-dollar pair updated its monthly price high yesterday, approaching the 1.0700 resistance level. However, buyers hesitated to storm the 1.0700 resistance level, even in the face of the overall weakening of the greenback. Overall, the current situation eloquently demonstrates how vulnerable and dependent the American currency is on risk sentiment levels. As soon as […]
In my morning forecast, I drew attention to the level of 1.2281 and recommended making decisions based on it for market entry. Let’s take a look at the 5-minute chart and analyze what happened there. Growth and the formation of a false breakout at this level led to an excellent selling entry point, resulting in […]
EURCHF edges lower today after strong rally yesterday Significant sell-off recorded since end-September high Momentum indicators appear ready to turn bullish EURCHF almost tested the all-time low at 0.9403 in an aggressive sell-off since the end-September high. This prompted a reaction from the bulls by recording two strong green daily candles. EURCHF is edging lower […]
Let’s take a look at the technical picture of GBP/USD, EUR/USD, USD/JPY and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forecast of GBP/USD pair on May 24, 2024 May 24, 2024 On the hourly chart, the GBP/USD pair reversed in favor…Weekly Forex Outlook: 24/05/2024 – US PCE inflation and… May 24, […]
In my morning forecast, I drew attention to the level of 1.0664 and recommended making entry decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The decline towards 1.0664 did occur, but we never received a buy signal for the euro. Missing the 1.0664 level only increased […]
The EUR/USD pair reversed in favor of the European currency on Monday, consolidating above the descending trend corridor and the level of 1.0637. Thus, the upward trend can continue towards the next corrective level of 127.2%–1.0714. A rebound of quotes from this level will favor the US currency, with a slight decline towards 1.0637. A […]
USDJPY skids, slipping below moving averages in 4-hour chart But selloff is already fading and rebound underway Bigger picture remains neutral USDJPY came under selling pressure during the past 24 hours, slipping to a one-week low of 149.31 earlier in today’s session. However, not only does the pair remain within its recent tight trading range, […]
On the hourly chart, the GBP/USD pair on Monday secured its position above the corrective level of 1.2175 and later above the Fibonacci level of 161.8%–1.2250. Consequently, the upward momentum can be continued toward the next level of 1.2336. A drop in quotes below the level of 1.2250 would favor the US currency and a […]
Analysis of transactions and trading tips on GBP/USD Further decline became limited because the test of 1.2247 coincided with the strong downward movement of the MACD line from zero. Weak data from the UK led to a significant drop in the pair. The upcoming reports on business activity in the manufacturing and services sectors, together […]
The GBP/USD currency pair on Monday also showed a sharp and substantial rise, as we had expected. However, while the European currency has already managed to break through its recent local maximum, the British pound has not. Therefore, we are more likely to expect the continuation of the upward movement from this pair. The question […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0666, which occurred earlier in the day, coincided with the downward movement of the MACD line from zero, leading to a signal to sell. This resulted in a price increase of over 30 pips. Very weak data from the eurozone led to a price […]
The EUR/USD currency pair significantly increased on Monday. It is still rising, which clearly indicates the nature of such a movement. If the rise of the European currency were due to some fundamental or macroeconomic event, it would not have lasted so long. The usual reaction to any significant event lasts for several hours. In […]
Strong upside condition on BTC The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for May 24, 2024 May 24, 2024 Potential for the further downside movement on the NAS100The material…Market Comment – Sentiment sours after strong US PMIs;… May 24, 2024 Rate cut expectations take another hit after upbeat […]
