Analysis of the trading week from May 22nd to 26th for the EUR/USD pair. COT Report. The dollar cannot be derailed from its

Long-term perspective. The EUR/USD currency pair showed a downward movement again during the current week. The European currency has been falling for two consecutive weeks, practically every day. It is worth reminding ourselves that the euro has been rising like a rocket for about two months, raising questions about the reasons behind its behavior. We […]

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Technical analysis of GBP/USD for May 26, 2023

Overview : The GBP/USD pair continues to move upwards from the level of 1.2390. According to the previous events, the GBP/USD pair is still moving between the levels of 1.2390 and 1.2427; for that we expect a range of 110 pips (1.2500 – 1.2390). On the one-hour chart, immediate support level is seen at 1.2390, […]

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Technical analysis of EUR/USD for May 26, 2023

Overview : The EUR/USD pair faced strong resistances at the level of 1.0930 because this price coincided with the double top on the hourly chart since two weeks. So, the strong resistance has been already formed at the level of 1.0930 and the pair is likely to try to approach it in order to test […]

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XRP/USD: upside continuation to be activated

Ripple rallied in the short term and now is located at 0.4626. The altcoin ended its temporary drop and now it has turned to the upside as BTC/USD rallied as well. You knew from my previous analysis that XRP/USD could still jump higher despite the short-term retreat. XRP/USD increased by 5.74% from yesterday’s low of […]

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USD/CAD: 1.3663 key upside obstacle

USD/CAD Upside Reversal! The USD/CAD pair is trading at 1.3625 at the time of writing. You knew from my analysis that, after jumping above the downtrend line, the currency pair signaled an upside reversal. As long as it stays above the uptrend line, the price could extend its upwards movement. Technically, the uptrend line represents […]

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May 26, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

The pair was in an uptrend from 1.0400 to 1.0600, which prevented further losses. The rising lows at 1.1150 and 1.1750 showed that bulls were strong and could push the price higher than 1.1750. Bulls faced resistance at 1.2340, but they overcame it. However, they could not make a new high and instead repeated the […]

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May 26, 2023 : EUR/USD Intraday technical analysis and trading plan.

The EUR/USD pair fell to 0.9600, a level not seen since 2002, and then rebounded strongly, especially near this critical support level. The next resistance level at 1.0100 did not deter the bulls, who lifted the prices higher along the bottom of the shown movement channel. This led to reaching new bullish targets at 1.0250, […]

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Gold: downside scenario takes shape

The price of gold dropped again after reaching 1,957 today’s high. Now, it’s trading at 1,942 at the time of writing and it seems determined to approach and reach new lows. The bias remains bearish despite temporary rebounds. DXY’s further growth forced XAU/USD to turn to the downside again Fundamentally, the US data came in […]

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EUR/USD: deeper drop activated as expected

The EUR/USD pair plunged in the last hours and now is trading at 1.0713 at the time of writing. It’s located far below 1.0758 today’s high. You knew from my analyses, that the bias remains bearish despite temporary rebounds. The currency pair turned to the downside after the US economic data. Core PCE Price Index […]

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Bitcoin insures default risks

If the dynamics of Bitcoin in the first quarter were exciting to watch, then in April, it lost some of its shine, and in May, it turned into a boring asset. The leader of the cryptocurrency sector is lagging behind the technology companies’ index. Nasdaq Composite is growing due to the success in implementing artificial […]

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Trading Signal for EUR/USD for May 26-29, 2023: sell below 1.0742 (21 SMA -0/8 Murray )

Early in the American session, EUR/USD is trading around 1.0735, rebounding after it had reached the low of 1.0707. The encouraging news from the United States keeps the euro under bearish pressure. The comments of some policymakers of the Federal Reserve fueled the expectations of a new rise in interest rates in the coming months. […]

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EUR/USD: Negotiation track and core PCE index

The bears of the euro-dollar pair tested the support level of 1.0710 (the lower Bollinger Bands line on the D1 timeframe) yesterday but failed to overcome this target. Sellers clearly intended to enter the 1.06 area, but the downward momentum faded. After another optimistic remark by U.S. President Joe Biden (stating that default is not […]

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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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Technical analysis – GBPUSD stays within bearish channel despite quick bounce

GBPUSD pivoted quickly higher to 1.2394 on the back of rising rate hike expectations in the UK following the plunge to a seven-week low of 1.2308. Technically, the pair staged another bullish correction within a tight, short-term bearish channel. Despite the bounce in the price, the technical picture in the four-hour chart cannot guarantee a bullish continuation. […]

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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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