Technical analysis on USDJPY for May 26th, 2023.

Red lines- bullish channel USDJPY is trading around 139.75. Short-term trend remains bullish as price continues to trade inside the red upward sloping channel. The momentum remains bullish but it is weakening according the bearish RSI divergence. This divergence is not a bearish sign, but only a warning. As long as price is inside the […]

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Technical analysis on EURUSD for May 26th, 2023.

Red lines -bearish channel EURUSD is trading around 1.0756. Price is bouncing higher today. Price remains inside the downward sloping red channel. Bears remain in control of the short-term trend. After another negative week, traders look to take profits from short positions as the weekend approaches. Thus the bounce higher today. Technically as long as […]

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Technical analysis on Ethereum for May 26th, 2023.

Blue lines- bullish channel Red line- resistance Black line- bearish RSI divergence Ethereum is trading around $1,815. Price continues to trade inside the medium-term upward sloping blue channel. Price is challenging the key lower channel support at $1,750-$1,790. As long as price respects the channel boundary, bulls will remain in control of the trend. In […]

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Ichimoku cloud indicator analysis on Gold for May 26th, 2023.

Gold price is trading around $1,952. In Ichimoku cloud terms, trend in the 4 hour chart remains bearish as price is still below the Kumo (cloud). Price is bouncing from the $1,936. Gold price has broken above the tenkan-sen (Red line indicator) and if it also breaks above the kijun-sen (yellow line indicator), we could […]

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GBP/USD Outlook for May 26, 2023

GBP/USD is trading in the zone of short-term and long-term bear markets while remaining above key medium-term support levels at 1.2290 (50 EMA on the weekly chart) and 1.2245 (200 EMA, 144 EMA on the daily chart). A breakthrough of short-term resistance levels at 1.2417 (200 EMA on the 1H chart) and 1.2441 (200 EMA […]

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GBP/USD: overview and near-term outlook

As noted in our today’s review, the US dollar is still leading the market, while investors are in no hurry to build up holdings of US debt due to unresolved issues regarding its limit. Democrats and Republican representatives have not yet reached an agreement. Differences persist, although there are reportedly fewer contentious issues remaining. As […]

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Bitcoin succumbs to debt-ceiling jitters – Cryptocurrency News

Bitcoin and most major altcoins have lost ground this week, extending their corrections from recent highs. The main driver behind the latest weakness is the uncertainty regarding the debt-ceiling negotiations in the US, while solid macroeconomic data releases have increased bets for further rate hikes by the Fed. Is the 2023 crypto rally starting to […]

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US premarket on May 26: US stock market continues to recover

Futures on US stock indices rose on Friday amid optimism and spreading rumors that a deal to raise the US debt ceiling is very close. S&P 500 futures have returned to the green zone and show a 0.2% increase, while the NASDAQ index has also gained about 0.2%. Treasury bond yields remained at a two-month […]

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Analysis and trading tips for GBP/USD on May 26 (US session)

The test of 1.2353 coincided with the time when the MACD line had already risen upwards, opening the way for a price decline. However, the downward movement was not as large as expected, which forced most traders to close positions after a slight climb above 1.2353. Pound halted its rally as the larger contraction in […]

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Analysis and trading tips for EUR/USD on May 26 (US session)

Market signals did not appear in the morning as no price tests occurred in EUR/USD. But in the afternoon, volatility could increase due to the upcoming data on US core personal consumption expenditure. A decline in the index will lead to a further dip in euro, which could exacerbate amid rising income and expenditure levels […]

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Weekly Forex Outlook: 26/05/2023 – Nonfarm payrolls eyed as dollar rides Fed bets

With investors flirting with the idea of one final Fed rate increase this summer and the dollar making a comeback, there will be increased emphasis on the next round of US employment data on Friday. Debt ceiling negotiations will also be front and center as the clock ticks down to a US government shutdown, while […]

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Week Ahead – Nonfarm payrolls eyed as dollar rides Fed bets

With investors flirting with the idea of one final Fed rate increase this summer and the dollar making a comeback, there will be increased emphasis on the next round of US employment data on Friday. Debt ceiling negotiations will also be front and center as the clock ticks down to a US government shutdown, while […]

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Technical Analysis – USDCHF trims gains within bullish channel

USDCHF drifted down to 0.9017 after facing resistance around the familiar long-term constraining zone of 0.9070. The negative slope in the RSI and the Stochastic oscillator on the four-hour chart suggests market sentiment may remain downbeat in the coming sessions. The MACD has slipped back below its red signal line, increasing the likelihood of another leg […]

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EUR/USD and GBP/USD: Technical analysis for May 26

EUR/USD Higher timeframes Yesterday, the pair continued to decline but failed to reach the support level at 1.0693. As a result, the conclusions and expectations voiced earlier remain relevant. For bears, the nearest level of importance is 1.0693 (weekly medium-term trend). For bulls, a breakout of the daily and weekly resistances around 1.0787 – 1.0796 […]

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EUR/USD. May 26. Statistics from the USA gave additional confidence to the bears

The EUR/USD pair continued downward on Thursday and tested the corrective level of 38.2% (1.0726). There was no significant rebound from this level, but trader activity is currently quite weak, with many levels being tested in non-standard ways. The descending trend corridor is the main focus at the moment. The pair remains within its bounds […]

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GBP/USD. May 26. Bulls may receive positive sentiment

On the hourly chart, the GBP/USD pair continued its downward movement towards the 76.4% correction level at 1.2295 on Thursday. The level of 1.2342 is located nearby. A rebound from either of these levels or another confirmed buy signal would reverse the pair in favor of the British pound and start growing towards the upper […]

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EUR/USD and GBP/USD: Trading plan for beginners on May 26, 2023

Details of the economic calendar on May 25 The second estimate of U.S. GDP data for the first quarter were published yesterday, surpassing analysts’ forecasts. The U.S. economy saw a growth rate of 1.3% annually, while a growth rate of 1.1% was expected. This positive report led to further strengthening of the overbought dollar. At […]

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Video market update for May 26, 2023

Potential for the reaction up on the Gold and GBP… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:EUR/USD and GBP/USD: Trading plan for beginners on May 26,… May 26, 2023 Details of the economic calendar on May 25 The second…Daily Market Comment – Dollar pauses for breath ahead of… May 26, […]

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US inflation data unlikely to move markets. EUR/USD set to rise slightly; USD/JPY on track for decline.

The topic of negotiations regarding the US debt ceiling continues to dominate market attention, with implications expected both in negative and positive terms. However, today, investors’ focus will shift towards the release of crucial inflation indicators. Markets will be closely monitoring the release of the core Personal Consumption Expenditures (PCE) price index data and the […]

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Technical Analysis of Daily Price Movement of Ethereum Cryptocurrency, Friday May 26, 2023.

There are several interesting things if we look at the daily chart of the Ethereum cryptocurrency: 1. The emergence of the Bullish Continuation = Failing Wedge pattern. 2. The appearance of hidden deviations between price movements and the osMA indicator. 3. Price movement was again halted at the Bullish Orderblock support level 1784.28 for the […]

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Technical Analysis – GBPJPY hovers around 7-year high

GBPJPY has been stuck in an uptrend since the beginning of the year, generating a seven-year peak of 172.77 last Wednesday. However, the pair has been flat since then, appearing to be unable to extend its recent rally. The short-term oscillators currently suggest that bullish forces are waning but remain in control. Specifically, the RSI […]

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Technical Analysis – AUDJPY remains above key area as bearish pressure intensifies

AUDJPY is hovering around the 91 level, just a tad above a rather busy area that is key for market sentiment. This pair has actually been trading inside an aggressive upward sloping trend channel, but its upside is currently being capped by the 200-day simple moving average (SMA). Therefore, AUDJPY has failed to record a […]

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Taipei Traders Learn to Tackle a Recession

We’re happy to have completed another successful seminar in Taipei on May 21, where traders learned to equip themselves against a recession and trade in any economic condition. Attendees were guided by renowned mentor Lewis Huang, who showed them how to build a solid trading strategy using short-term swing trading. Attendees learned the different stages […]

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Technical Analysis – USDCAD in bullish mode; resistance at 1.3650

USDCAD bounced off its 200-day simple moving average (SMA) and went as high as 1.3653, surpassing a resistance line that had been in effect since March. The technical picture is feeding optimism for a bullish continuation. The price has bottomed out twice around 1.3300 before drifting higher and beyond its simple moving averages (SMAs). Traders are […]

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Indicator analysis: Daily review of GBP/USD on May 26, 2023

Trend analysis (Fig. 1). The market may move upward from the level of 1.2317 (closing of yesterday’s daily candle) with the target of 1.2361, the 14.6% pullback level (red dotted line). Upon reaching this level, continued upward movement is possible with the target of 1.2393, the 23.6% pullback level (red dotted line). Fig. 1 (daily […]

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BTC update for May 26,.2023 – Testing of the resistance cluster at $26.000

Technical analysis: BTC/USD has been trading upside this morning and I found test of the previous support cluster at the price of $26.600. I see 2 scenarios around this key support level. In case of the upside breakout of the $26.600 and hold above, there is potential for the rally towards next major resistance at […]

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