On Wednesday, the US stock market showed a decline, which is associated with investors’ assessment of the Federal Reserve’s actions in managing interest rates and the observation of moderate financial results at the start of the reporting season. The US dollar and Treasury yields weakened, retreating from their highs in months, while gold retreated from […]
EUR/USD Yesterday, the euro was up 0.49%, while the S&P 500 dropped 0.58%, gold fell 1.04%, and yields on US government bonds decreased. Even Israel’s statement about a pending “retaliatory” strike against Iran did not dampen such a risky rise in the euro. We believe that the euro has used up all its strength. The […]
GBP/USD Yesterday, the British pound failed to settle above the level of 1.2427 and rose by 28 pips while the dollar temporarily showed broad weakness. The signal line of the Marlin oscillator has entered the upper half of its own descending channel. Another drop below the support at 1.2427 makes it possible for the price […]
AUD/USD The Australian dollar has recovered its losses from Wednesday and it seems that it will continue to rise towards 0.6480. However, today’s report showed Australian unemployment ticked up to 3.8% from 3.7% in February. The Marlin oscillator has slowed down its upward movement on the daily chart. The price may not reach the target […]
Analysis of GBP/USD 5M GBP/USD continued to trade sideways on Wednesday. Volatility remains weak, and traders took a break after leaving the 4-month sideways channel. The price is currently 80 pips below the channel where it spent almost half a year. Therefore, we still expect the pound to fall, and take note that there has […]
Analysis of EUR/USD 5M EUR/USD traded mostly sideways with low volatility on Wednesday. The low market activity can be attributed to the weak fundamental and macroeconomic background. There were no significant events during the day. Federal Reserve Chairman Jerome Powell gave a speech on Tuesday evening, and he said there’s been a “lack of further […]
The GBP/USD pair shows that it is willing to fight, as it attempts to start a bullish correction. The bulls are not only counting on the greenback’s weakness, but are also relying on the UK inflation report. The fact that inflation did not fall as expected made it possible for the bulls to push the […]
As we have already mentioned, it no longer makes sense to expect a rate cut from the Federal Reserve. The latest inflation report exceeded the target mark almost twice. It will take at least 5-6 months for inflation to slow down to at least 2.5%, so that the Fed could finally start discussing monetary policy […]
Tuesday was interesting not only with a whole series of interesting reports in the US and UK but also because of the speeches by Andrew Bailey and Jerome Powell. The reports turned out to be quite dull and secondary, with the market hardly reacting to them. In general, it ignored the speeches of both Powell […]
The IMF raises its GDP forecast for the US economy for 2024 by a significant 0.6 percentage points, to 2.7%. Goldman Sachs highlights the US as the only G10 nation where inflation is accelerating, suggesting potential for continued growth in the USD. American exceptionalism, coupled with the Federal Reserve’s intention to keep the federal funds […]
Gold is trading around 2,386, within an uptrend channel, and below the strong resistance at 2,397. On the H4 chart, we can see a consolidation in the price after it reached the 61.8% Fibonacci at 2,395. Gold is currently bouncing and could try again to break this zone. In case gold breaks and consolidates above […]
GBPCAD keeps knocking on 1.7238 door But bulls unable to break through it yet Momentum stays positive for now GBPCAD has been trying to get past the tough wall around 1.7238 for more than a week now, but each time it has been knocked back. However, after dipping below its 50- and 20-day simple […]
ETH/USD is trading around 3,046.92, below the 21 SMA, and inside the downtrend channel forming since late March. Ether could continue its fall as it comes under bearish pressure and is likely to find immediate support around 1/8 Murray located at 2,812. Technically, it is approaching an oversold zone. If a bounce occurs around 2,800, […]
The wave analysis of the 4-hour chart for the EUR/USD pair remains unchanged. Currently, we observe the construction of the presumed wave 3 in 3 or c from the downtrend section. If this is indeed the case, the decline in quotes will continue for quite some time, as the first wave of this section completed […]
The wave analysis for the GBP/USD pair remains quite complex, but it may become simpler in the coming weeks. A successful attempt to break through the Fibonacci level of 50.0% indicates the market’s readiness to build a downward wave 3 or c. If this wave continues to develop, the wave pattern will become much simpler, […]
Analysis of Deals and Trading Tips for the Japanese Yen The test of the price at 154.63 occurred when the MACD indicator began its upward movement from the zero mark, confirming the correct entry point into the market. However, as you can see on the chart, the dollar didn’t go anywhere, and all I managed […]
Analysis of Deals and Trading Tips for the British Pound The price test at 1.2448 in the first half coincided with the moment of the MACD indicator’s upward movement from the zero mark, which confirmed the correct entry point for buying the pound to continue the pair’s growth observed after the release of fundamental data […]
Trade Analysis and Tips on Trading the European Currency The test of the price at 1.0638 in the first half of the day occurred when the MACD indicator had risen significantly above the zero mark, limiting the further upward potential of the pair. For this reason, I did not buy the euro against the trend, […]
In my morning forecast, I focused on the level of 1.2450 and planned to make trading decisions based on it. Let’s look at the 5-minute chart and analyze what happened there. The breakout and reverse test from top to bottom of this range led to a signal to buy the pound in continuation of the […]
EURUSD tumbles and breaks out of sideways range Despite the brief pause, the outlook remains negative MACD and RSI detect negative momentum A break below 1.0610 could target 1.0520 EURUSD came under strong selling interest last week following the hotter-than-expected US CPI data, breaking below 1.0725, the lower bound of a sideways range that was […]
Market is still in monetary easing mode despite fewer rate cuts priced in across the board Divergent cut expectations for the Fed and the ECB, reflecting economic conditions The ECB and the BoC are seen cutting in July; the RBA might not cut rates this year BoJ is seen hiking again during 2024 The market […]
In my morning forecast, I paid attention to the level of 1.0647 and planned to make trading decisions based on it. Let’s look at the 5-minute chart and analyze what happened there. Growth and the formation of a false breakout around 1.0647 led to a sell signal, which was not fully realized. After a downward […]
EURGBP tests uptrend line as it resumes slide Risks are tilted to the downside But pennant pattern suggests more consolidation EURGBP has been drifting lower after its latest attempt to break above the medium-term descending trendline failed, peaking at 0.8585. The price briefly touched the short-term uptrend line just below 0.8520 earlier today before […]
On Tuesday, the EUR/USD pair traded horizontally near the corrective level of 127.2%-1.0619. Consolidating quotes below this level will allow further decline towards the next Fibonacci level at 161.8%-1.0519. There was no retreat from the level of 1.0619. Bears continue to maintain the initiative and exert pressure on the European currency. The wave situation remains […]
On the hourly chart, the GBP/USD pair executed a new reversal in favor of the American currency on Tuesday and consolidated below the corrective level of 38.2% (1.2453). Thus, the process of the quotes’ decline may continue toward the next level at 1.2370. If the pair’s rate consolidates above the level of 1.2453, it will […]
Tesla reports earnings on April 23 after market close Weak delivery data set the ground for downbeat financials Valuation is overstretched despite a 35% YTD stock decline Devastating start to the year Tesla has been steadily among the ten worst performing stocks of the S&P 500 in 2024 as investors have been raising concerns […]
Potential for the further drop on NAS100 The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forex forecast 04/17/2024: EUR/USD, GBP/USD, Gold, Bitcoin… April 17, 2024 We introduce you to the daily updated section of Forex…GBP/USD: trading tips for beginners for European session on… April 17, 2024 Overview of yesterday’s trading and tips […]
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. Useful links: My other articles are […]
Gold finds support at mid-level of Bollinger band Technical oscillators remain in positive territory Gold prices are finding strong obstacles to surpass the 2,400 resistance level despite the spike towards the record peak of 2,431.48 in the preceding week. The price is still standing at the upper half boundary of the Bollinger band and the […]
Overview of yesterday’s trading and tips on GBP/USD The first price test of 1.2455 in the afternoon occurred at a time when the MACD indicator sharply moved up from the zero mark, which limited the pair’s bullish potential. The second test of this price came at a time when the MACD was already in overbought […]
