BTC update for May 04,.2023 – Triangle pattern in creation

Technical analysis: BTC/USD has been trading sideways at the price of $29.000 and I see potential for the breakout mode in the play. Due to the defined triangle pattern, I see potential for the breakout. In case of the breakout of resistance at $30.000, I see potential for the rally towards $31.000 and $34.000 In […]

Stock Trkr
USD/JPY analysis for May 04, 2023 – Potential for the further downside movement

Technical analysis: USD/JPY has been trading downside as I expected and the first upside objective has been reached at 135.00. Anyway, I see potential for the lower prices towards 133.35. Due to the strong downside momentum and no signs for the reversal, I see potential for the further downside movement towards lower reference. Next major […]

Stock Trkr
GBPUSD, H4 |React off 1st Resistance ?

The GBP/USD chart exhibits bearish momentum, as indicated by the potential for a bearish reaction at the first resistance level of 1.2583 and a subsequent drop towards the first support level of 1.2540. The first support level is considered an overlap support, which may provide a level of support for the price if it reaches […]

Stock Trkr
EURUSD, H4 | Potential Bullish?

The EUR/USD chart exhibits a bullish outlook, as the price has the potential to break above the first resistance level at 1.1095 and advance towards the second resistance level at 1.1158. In case of a pullback, the first support level at 1.1095 could provide a level of support for the price. Additionally, the second support […]

Stock Trkr
NZDUSD, H4 | Break above the descending trendline?

The NZD/USD chart indicates bullish momentum with price positioned above a significant ascending trend line, suggesting potential for further bullish momentum. Moreover, the recent breakout above a descending resistance line has triggered a possible bullish move. Looking ahead, a potential bullish continuation towards the first resistance level of 0.6282 could occur. In case of a […]

Stock Trkr
GBP/USD. Overview for May 4th. The pound continues the “swing” with an upward bias

The GBP/USD currency pair traded with moderate gains on Wednesday before announcing the results of the FOMC meeting. After the announcement, we are still considering the movements and the meeting outcomes. In general, it is unimportant in which direction the pair will move after the meeting, as this will be an impulsive market reaction that […]

Stock Trkr
Technical Analysis of Daily Price Movement of S&P 500 Index, Thursday May 04, 2023.

After successfully break above the level of 4177,57 but failed to touched its Weekly Old High level on 4195,24 as well as supported by the apperance of the deviation between price movement with MACD indicator, then in a few days ahead #SPX has the potential to depreciated down below up to the level 4051,17 where […]

Stock Trkr
EUR/USD. Overview for May 4th. What to expect from the European regulator?

The EUR/USD currency pair traded higher most of Wednesday. We don’t think such a move was logical, but we have long become accustomed to illogical moves. The market traded consciously on Monday and Tuesday, reacting to macroeconomic statistics as expected. However, overall, the pair’s movement remains extremely flat, illogical, and chaotic. Looking at the illustration […]

Stock Trkr
Forecast for EUR/USD on May 4, 2023

EUR/USD At the end of yesterday’s FOMC meeting, the Federal Reserve raised the rate by the expected 0.25%, but the rhetoric, contrary to our expectation, was not firm, as the Committee announced a pause in the rate hike cycle. Nevertheless, yesterday’s euro growth by 59 points might not have happened because for this reason (the […]

Stock Trkr
Forecast for GBP/USD on May 4, 2023

GBP/USD Yesterday, the British pound overdid its growth with the Federal Reserve’s neutral decision (a 0.76% increase against the euro’s 0.57% increase), although the trading volume was high. To break the technical divergence, the price needs to go significantly higher than the target level of 1.2666 (the peak of May 27, 2022), which seems unlikely […]

Stock Trkr
Forecast for AUD/USD on May 4, 2023

AUD/USD The Australian dollar settled at the technical level of 0.6670. The Marlin oscillator has also taken a neutral position. If yesterday the aussie did not react strongly to the Federal Reserve’s rate hike, then it is likely to maintain a neutral position today regarding the European Central Bank’s rate hike. The AUD/USD pair is […]

Stock Trkr
US stock market closes with a decline, Dow Jones drops by 0.80%

The US Services ISM (Institute for Supply Management) Business Activity Index rose to 51.9% in April from 51.2% in March, with a forecast of 51.8%. Meanwhile, the number of private sector jobs in the US increased more than expected in April, with a rise of 296,000 positions, while experts had anticipated an increase of 148,000. […]

Stock Trkr
Technical analysis of GBP/USD for May 03, 2023

Overview : The trend sets above the levels of 1.2390, 1.2425 and 1.2450 since 48-hours. 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 202 pips (1.2588 […]

Stock Trkr
NZD/USD: further growth signaled

The NZD/USD pair rallied in the short term and now is trading at 0.6237 at the time of writing. After its amazing growth, the price dropped a little but this was only temporary before jumping higher again. The rate turned to the upside ahead of the FOMC, even though the ADP Non-Farm Employment Change came […]

Stock Trkr
May 3, 2023 : Analyzing Recent Trends and Trading Opportunities in EUR/USD: A Technical Analysis Perspective.

After ascending towards the 1.1500 price zone, the EUR/USD pair encountered significant selling pressure, resulting in declines to levels of 1.0850, 1.0400, 1.0000, and most recently, 0.9600. The market experienced buying pressure until it reached a plateau around 1.0800-1.0850, followed by notable selling pressure that led to a recent decline in prices. The price level […]

Stock Trkr
May 3, 2023 : EUR/USD Intraday technical analysis and trading plan.

The EUR/USD pair has recently returned to levels around 0.9600, which were last reached in 2002, leading to a significant bullish recovery, especially around this critical support level. Although the nearest resistance level at 1.0100 did not apply enough bearish pressure, there was strong bullish price action around the lower edge of the depicted movement […]

Stock Trkr
May 3, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

The market displayed a positive trend between 1.0400 and 1.0600, which prevented further losses. Bulls kept supporting the increasing lows at 1.1150 and 1.1750, indicating a probable continuation of the positive trend above 1.1750. At 1.2340, bears initially resisted the price, but bulls recovered. However, the GBPUSD bulls could not create a new high and […]

Stock Trkr
NZD/USD: upside continuation confirmed

NZD/USD Strong Buyers! The NZD/USD pair resumed its growth and now is trading at 0.6234. You knew from my previous analysis that the currency pair signaled a larger growth after jumping above 0.6153 and above the downtrend line. Technically, the former high of 0.6219 was seen as an upside obstacle. I told you yesterday that […]

Stock Trkr
Ripple to exit its range soon?

The price of Ripple extended its downside movement and now is trading at 0.4520 at the time of writing. In the short term, the price action developed a range formation, so only escaping from this pattern should bring new opportunities. In the last 24 hours, Ripple is down by 2.28% and by 5.20% in the […]

Stock Trkr
Gold accelerating its growth

The price of gold edged higher and now is trading at 2,022 at the time of writing. It has climbed as much as 2,026 today, registering a new high. You knew from yesterday’s analysis that the XAU/USD is strongly bullish and it could resume its growth. Surprisingly or not, the yellow metal jumped higher, even […]

Stock Trkr
Analysis of GBP/USD on May 3rd. The US labor market is not as bad as it seems

The wave markup for the pound/dollar pair looks complicated because it does not resemble a classical corrective or impulse trend segment. Since the current upward wave has exceeded the peak of the last wave b, the entire downward segment of the trend, consisting of waves a-b-c, can be considered complete. Although it resembles the trend […]

Stock Trkr
Wedge pattern in GBPUSD for May 3rd, 2023.

Black lines- wedge pattern GBPUSD is trading around 1.25. Trend remains bullish as price continues making higher highs and higher lows. However price has formed an upward sloping wedge pattern and as we approach the top end of the pattern the chances for a reversal increase. Apart from the wedge pattern we also have a […]

Stock Trkr
Technical analysis on Bitcoin for May 3rd, 2023.

Blue lines- bearish RSI divergence Bitcoin is under pressure again. Price recently formed a lower high and is turning lower once again. Support is found at $27,670 area and a break below it will open the way for a deeper correction at least towards $25,000. Is Bitcoin starting a new sequence of lower lows and […]

Stock Trkr
Technical analysis on EURUSD for May 3rd, 2023.

Blue lines- bullish channel Red lines- bearish RSI divergence EURUSD is trading again above 1.1030. Despite the selling pressures yesterday, EURUSD bulls managed to hold above 1.0950 support and close the day at 1.10. Today price is even higher showing that bulls remain in control of the trend. Price remains inside the medium-term bullish channel. […]

Stock Trkr
Technical analysis on Gold for May 3rd, 2023.

Black lines- triangle pattern (broken) Gold price is trading above $2,000. Price broke out and above the triangle pattern it was in and reached as high as $2,018. Gold price provided a bullish signal with the break of the resistance at $2,004. Gold yesterday posted the highest daily close in two weeks. Previous resistance is […]

Stock Trkr
EUR/USD. ECB May Meeting Preview

The intrigue surrounding the possible outcomes of the meeting will persist until the last minute: there is no consensus in the market on how much the Central Bank will raise interest rates. The fact of the increase is not up for debate, but the scale of monetary policy tightening and its further prospects are open […]

Stock Trkr