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:Weekly Forex Outlook: 12/04/2024 – More inflation data on… April 12, 2024 CPI numbers due in the UK and Japan. China to also…Bitcoin holds above $70,000 as halving event looms – […]
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:Market Comment – Dollar pulls back; ECB sends clearer cut… April 12, 2024 Dollar takes a breather, but Fed bets remain unchanged Euro…The market is disappointed and softening expectations for… April 12, 2024 After the latest inflation report showed […]
Details of the Economic Calendar on October 23 Monday, as usual, was accompanied by an empty macroeconomic calendar. There were no significant statistical data publications in the European Union, the United Kingdom, and the United States. Analysis of Trading Charts from October 23 The EUR/USD currency pair opened the new trading week with an upward […]
Crypto Industry News: Almost all listed bitcoin mining companies have recorded since January 1 this year increase by over 100%. Their purchase turned out to be more profitable than investing in BTC. Let’s look at specific examples. A single share of Marathon Digital (MARA) is trading at $8.75 today. At the end of 2022, it […]
Crypto Industry News: There are many indications that the cryptocurrency market will soon see what it has been waiting for a decade. BlackRock’s spot bitcoin ETF will become a reality. This is evidenced by the fact that the iShares exchange-traded fund proposed by this giant is already listed on the Trust & Clearing Corporation (DTCC) […]
Technical Market Outlook: The GBP/USD pair had made a new local high at the level of 1.2287, but the Pin Bar candlestick pattern was made at the top of the move. The intraday technical support is still located at the level of 1.2224 and the intraday technical resistance is located at 1.2336 (swing high from […]
Technical Market Outlook: The EUR/USD pair has been seen coming off the local high located at the level of 1.0695 after the ABC corrective pattern had been completed. Moreover, the wave C of the ABC pattern has hit the 100% extension of the wave A, so there is another indication of a possible down trend […]
Dollar follows US yields lower after rejection from 5% region But gold and yen cannot take advantage of this correction Euro rebound cut short by disappointing business surveys Retreat in yields slams dollar Global markets breathed a sigh of relief yesterday, as the furious rally in US yields finally lost some steam. The yield on […]
Bitcoin surges to an almost 18-month high Broader picture appears overly positive But overstretched rally increases the risk of a correction BTCUSD (Bitcoin) soared to an almost 18-month high on Tuesday, driven by speculation that an exchange-traded fund (ETF) that tracks the price of Bitcoin could soon be approved by the United States. The crypto […]
Technical analysis: BTC/USD has been trading strongly upside and the market tested the level of $35.000. Market has reached my objectives at $31.700. Due to the strong upside momentum and the breakout of the consolidation, I see potential for the further growth after the pullback. Next main upside objective is set at $37.000 RSI oscillator […]
Yesterday, the pair formed some great market entry signals. Let’s have a look at what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.2180 as a possible entry point. A rise and false breakout at this mark produced a great sell signal, sending the pair down by more than […]
Yesterday, the pair formed several entry signals. Let’s have a look at what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.0603 as a possible entry point. A rise and a false breakout at this mark formed a sell signal. As a result, the pair fell by more than […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move upward from the level of 1.2244 (closing of yesterday’s daily candle) to test 1.2316, the 38.2% pullback level (red dotted line). Upon testing this level, a continued upward movement is possible to 1.2397, the historical resistance level (blue dotted line). Fig. 1 (daily chart). Comprehensive […]
Technical analysis: Gold has been trading sideways at the price of $1.974 and I found that symmetrical triangle pattern is in creation and there is potential for the breakout mode. In case of the upside breakout of the resistance at $1.980, there is the chance for the upside movement towards objective at $1.995 In case […]
