If we look on the 4 hour chart of Nasdaq 100 index, there is the deviation between its price movement with CCI indicator as well as the apperance of Bullish 123 pattern which follow by the appearance of some of Ross Hook (RH), then this is signaled that in the near future #NDX has the […]
Early in the European session, gold is trading around 1,986.25, within a downtrend channel formed since October 30, above the 200 EMA, and above the 21SMA. Yesterday, gold reached a low of 1,969. From there, it is bouncing with an upward bias. In view of the fact that gold is above the key level of […]
The XAU/USD chart currently shows a neutral overall momentum, indicating a lack of a strong directional trend. In this scenario, the price is expected to fluctuate between the 1st support at 1974.67 (overlap support) and the 1st resistance at 1992.18 (overlap resistance). These levels are significant, with the support potentially attracting buyers at 1974.67 and […]
EUR/USD So, yesterday’s Federal Reserve meeting, including Fed Chair Jerome Powell’s press conference, turned out to be entirely neutral. However, neutrality confirms the central bank’s readiness for a softer stance. Markets did not initiate a false bearish move (as we expected) and have turned to play against the dollar. The euro fell just a few […]
GBP/USD At the end of Wednesday, the pound closed at the opening level due to the neutral outcome of the Federal Reserve meeting. The pound tried to test the target support level at 1.2070. Now, when the quote surpasses the October 31st peak at 1.2199, it will open up the target range of 1.2271/87. Afterward, […]
AUD/USD The Australian dollar has surged on the back of increased risk appetite and the Federal Reserve’s neutral stance. Yesterday, the S&P 500 closed the day with a 1.05% gain, and this morning the S&P/ASX200 is up by 1.27%. The yield on 5-year US government bonds fell from 4.84% to 4.63% yesterday. On the daily […]
Analysis of macroeconomic reports: There will be few macroeconomic events on Thursday, and none of them are crucial. might pay attention to the Manufacturing PMIs in the European Union and Germany, but these will be the final estimates, which usually do not differ significantly from the initial ones. Moreover, both PMIs are well below the […]
On Thursday, November 2, the Bank of England will hold its second-to-last meeting of the year. In the lead-up to this event, the GBP/USD pair has been behaving rather cautiously, with the price range narrowing to levels between 1.2100 and 1.2160. However, low volatility has been observed for the second consecutive week. Since October 25, […]
Analysis of Wednesday trades: GBP/USD 1H chart By the end of the third trading day of the week, the GBP/USD pair once again tested the crucial 1.2107 level. Interestingly, this level has been breached multiple times, yet each time, the price returns and settles above it. The pair has been unable to initiate a new […]
Analysis of Wednesday trades: EUR/USD 1H chart The EUR/USD currency pair continued to decline throughout Tuesday, although the specific reasons remain unclear. It should be noted that the pair has been undergoing a correction in recent weeks, albeit not consistently moving upward. However, when local peaks are updated, the movement is upward, albeit very weak. […]
Inaction can sometimes be an action, as aptly expressed by Christine Lagarde when explaining the ECB’s reluctance to raise rates in October. The Fed will find plenty of reasons to justify another pause in the cycle of monetary policy tightening. This includes progress in combating inflation, rising Treasury yields, which do the central bank’s job […]
During August, the EUR/USD pair has been trading in a narrow range between 1.0950 and 1.1050, waiting for a clear direction from the market sentiment and the economic data. Shortly after, the pair failed to maintain upside movement above the depicted uptrend. Instead, it was broken-down terminating the sideway movement. Shortly after, an upside pullback […]
The GBP/USD pair faced a strong resistance near 1.3200 and started a fresh downtrend. It broke the 1.2800 support level on a H4 candlestick and extended its decline towards 1.2500, where it met a crucial Fibonacci retracement level. This could be a good opportunity for intraday traders to go long, with a stop loss just […]
The EURUSD pair broke above the key level of 1.0550-1.0600 and continued its bullish trend towards 1.1000 and 1.1200. The bulls reached the resistance zone around 1.1200 but failed to sustain the momentum. Meanwhile, the bears pulled back the price towards 1.0950 where the pair met the short-term uptrend line. The price reversed from this […]
Regarding the pound/dollar pair, the wave analysis remains fairly straightforward and clear. The construction of a new downward trend segment continues, with the first wave taking on a fairly extended form. In my view, the British currency has no grounds to resume an upward trend segment, so I do not even consider such a scenario. […]
The wave analysis of the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we have seen only three wave structures that constantly alternate with each other. For the past few months, I have regularly mentioned that I expect the pair to approach the 1.2000 level, where the construction of the […]
Review of trades and trading tips for the British pound The test of the price at 1.2149 occurred when the MACD indicator was in the overbought zone, which clearly limited the further downside potential of the pair. For this reason, I did not buy the pound. The outcome will be determined during the FOMC meeting […]
Review of Trades and Trading Tips for the European Currency The test of the price at 1.0565 occurred when the MACD indicator was just starting to move down from the zero mark, confirming the right entry point for selling the euro. As a result, the pair fell by more than 25 points. In the second […]
In my morning forecast, I pointed out the level of 1.2161 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The rise and the formation of a false breakout at this level resulted in an excellent entry point for short positions, causing the […]
Early in the American session, the Japanese yen (USD/JPY) is trading around 151.15, below the 21 SMA, and below +1/8 Murray. Yesterday during the American session, it reached a high at about 151.70. Since then, we’ve been watching a technical correction to last for a few days until the price reaches the 200 EMA located […]
In my morning forecast, I drew attention to the level of 1.0580 and recommended making entry decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. There was an upward movement, but it did not reach the level of 1.0580 due to a false breakout, as it fell […]
Orange rectangles- similar pattern expected Green rectangles- overbought levels Red line- support trend line Blue lines- Fibonacci retracement levels Black lines- expected price path Bitcoin is trading just below the $35,000 price level. Short-term trend remains bullish. The RSI is at overbought levels as we mentioned in a previous analysis. If we follow a similar […]
USDJPY is trading around 151.30. Daily trend according to the Ichimoku cloud indicator remains bullish. After a couple high volatility days where price challenged the kijun-sen (yellow line indicator), USDJPY is still in a bullish trend well above the Daily Kumo (cloud). Initially USDJPY provided us with a sign of weakness when price pulled back […]
Yellow line- bearish RSI divergence Blue lines- Fibonacci retracement levels Gold price is trading around $1,983. Short-term trend remains bullish as price continues making higher lows and higher highs. Price is still trading above the key short-term support by the 23.6% Fibonacci retracement. A break below the 23.6% Fibonacci retracement combined with the bearish RSI […]
EURUSD is under pressure for a second day in a row. After yesterday’s rejection near the cloud resistance, EURUSD today is breaking below the kijun-sen (yellow line indicator). This is a bearish sign and if the day closes below the kijun-sen, we should expect more downside over the coming sessions. Of course the announcement of […]
Gold in 2023 continues to surprise. Despite the strong dollar, soaring to its highest levels since 2016, the yield of 10-year Treasury bonds, and the ongoing capital outflow from gold-oriented ETFs for the fifth consecutive month, it has surged above the psychologically important $2000 per ounce mark. And we can attribute this to de-dollarization and […]
The euro-dollar pair, after a sharp surge towards the resistance level of 1.0670 (the lower boundary of the Kumo cloud on the D1 timeframe), made a 180-degree turn and is currently trading in the middle of the 5th figure. Such price dynamics were primarily driven by the weakening of the euro: yesterday’s report on inflation […]
The EUR/USD pair saw an increase above the corrective level of 23.6% (1.0644) on Tuesday, but it failed to rise significantly. In the second half of the day, there was a reversal in favor of the US currency, and the pair returned to the level of 1.0561. A bounce from this level allows us to […]
On the hourly chart, the GBP/USD pair rose to the level of 1.2175 on Tuesday, but a reversal in favor of the US dollar followed, and a new decline towards the level of 1.2106 began. Lately, the pair has spent a lot of time between the levels of 1.2106 and 1.2175. A rebound from the […]
Review of Trades and Trading Tips for the Japanese Yen The test of the price at 150.32 occurred when the MACD indicator had just started to move upwards from the zero mark. This confirmed the correct entry point for long positions in the continuation of the uptrend. As a result, the pair rose by more […]
