In my morning article, I paid attention to the level of 1.0686 and planned to make decisions on entering the market from there. Let’s look at the 5-minute chart and discuss what happened there. The growth and a false breakout in the area of 1.0686 produced a sell signal, which was never fully realized. Having […]
Recently, the US dollar has not been particularly popular among traders, who have shifted their focus to more attractive risk assets. However, this situation could end as quickly as it began. Obviously, following the latest US inflation data, the Federal Reserve’s course will now change as rapidly as prices do. Yesterday, Cleveland Federal Reserve Bank […]
BTCUSD falls temporarily below 60,000 ahead of halving Momentum indicators point to intensifying downside pressures BTCUSD (Bitcoin) experienced a strong pullback following the formation of a triple top pattern, sliding below its 50-day simple moving average (SMA). Meanwhile, the price dropped to a fresh six-week low a tad beneath the 60,000 psychological mark, just a couple of days ahead of […]
EURUSD rebounds off 5-month low near 1.0600; remains beneath symmetrical triangle US 500 index plummets to 2-month low, creating bearish correction WTI crude oil dives for the sixth consecutive day Related Posts:Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024 AUDJPY prints higher highs and higher lows above uptrend line…Technical […]
AUDJPY prints higher highs and higher lows above uptrend line MACD and RSI detect positive momentum A break above 100.80 will confirm a higher high For the outlook to change, a break below 95.80 may be needed AUDJPY pulled back lately, after it hit resistance at around 100.80 on April 9. However, the pair remains above […]
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. Video Agenda: 00:00 INTRO 00:13 Today’s […]
Potential for the further drop on BTCUSD The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – US dollar on the back foot as nervousness… April 18, 2024 Euro edges higher despite continued hawkish commentary from Fed officials…Hot forecast for EUR/USD on April 18, 2024 April 18, 2024 In the absence […]
WTI oil futures complete bearish triangle pattern after Wednesday’s drop Bullish pressures could still resurface as long as the price holds above 81.50 WTI oil futures tumbled by 2.8% to 82.84 on Wednesday, experiencing one of their biggest daily losses so far this year after a short-period of consolidation. The price slid below the […]
Euro edges higher despite continued hawkish commentary from Fed officials Geopolitical developments cast doubt on ECB June rate cut Yen fails to make considerable gains as market looks to Friday’s CPI data Dollar is on the back foot today Euro/dollar is rising today after testing the 1.06 level. The combination of dovish commentary from the […]
In the absence of economic reports or other news that could affect the market, investors finally paid attention to the dollar’s overbought condition. So, there was nothing to prevent the local correction, which, by the way, is still far from over. The market imbalances, although reduced, have not disappeared altogether. And except for the data […]
EUR/USD Higher Timeframes The monthly boundary of 1.0611 is still the most important obstacle for developing bearish bias on this section of the chart. Yesterday, in the process of testing the monthly support (1.0611), the daily rebound was executed. Confirming and developing the rebound will direct the corrective rise to the target levels, which are […]
Analyzing Wednesday’s trades: GBP/USD on 1H chart The GBP/USD pair continued to trade sideways on Wednesday. After the price broke out of the 1.25-1.28 sideways channel, the pair suddenly stopped falling. Unfortunately, in this case, the pair may correct higher. We still expect a new downward trend since the pound doesn’t have any solid reasons […]
Analyzing Wednesday’s trades: EUR/USD on 1H chart EUR/USD failed to surpass the level of 1.0618 for the third time and eventually started a bullish correction after last week’s decline. This isn’t exactly predictable since there were hardly any significant macroeconomic or fundamental events yesterday. However, just a day earlier, Federal Reserve Chief Jerome Powell signaled […]
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 […]
