The price of gold retreated a little in the short term but the bias remains bullish. You already know from yesterday’s analysis that XAU/USD could test and retest the immediate support levels before resuming its growth. After its strong rally, a retreat was natural. Fundamentally, the BOJ left its monetary policy unchanged in the October […]
It seemed like the market needed to calm down and catch its breath, but surprisingly, the euro started to become active again, much like the beginning of the past week. Although the macroeconomic calendar is basically empty, and the fundamental background remains generally unchanged. Of course, one could attribute this to mounting Middle East tension, […]
The GBP/JPY pair rallied in the last hours and now is located at 182.49 at the time of writing. The price action invalidated a deeper drop, so a new leg higher is favored. Still, the rate stands right below key resistance levels, so further growth needs confirmation. As expected, the BOJ left the BOJ Policy […]
Crude oil remains fixed on more downside pressure in wave C of the zig-zag correction that began from the September 2023 peak at 95.03 and should see the zig-zag reach a low between 75.63 and 79.34 in the weeks ahead. Once the corrective target between 75.63 and 79.34 is tested, a new impulsive rally is […]
Google or Alphabet will likely end October with a key-reversal candle, indicating that a top is in place for a larger decline in wave C towards the 50% corrective target at 78.58. This is in line with the expected zig-zag correction that began from the 150.97 peak in November 2021. We have seen wave A […]
On the weekly chart of USD/CHF main currency pairs seems there is a price movement which is moving inside the Bearish Pitchfork channel and below the Kumo, also there is the Bearish Y Wave pattern so that USD/CHF has the potential to weaken to the level of 0,8460. Nevertheless, Tenkan Sen which has Golden Cross […]
With the appearance of deviation between price movement with CCI indicator which coicidentaly successfully breakout under its uptrend line, gives the clue that GBP/AUD move in weak condition where currently on the weekly chart, GBP/AUD is trying to break below the level 1,8854, as long as there is no upward correction exceed above the level […]
EUR/USD Yesterday, the euro showed its desire to rise on the day the Federal Reserve announced its monetary policy decision. In a way, market participants are already aware of the central bank’s decision since it was outlined by FOMC representatives—inflation is already close to target levels (core and overall CPI, personal consumption prices, purchase prices, […]
GBP/USD Yesterday, the British pound rose by 48 pips and slightly exceeded the resistance of the embedded descending channel’s price line. Today it opened above this line. The Marlin oscillator is rising in the bullish territory. Now, the pound must reach the target range of 1.2271/87 and, if possible, climb above the MACD line and […]
USD/JPY Over the last two days, the USD/JPY pair has fallen by two figures, finding the October 17 low as the support level. This morning, the pair is recouping losses, and after that we expect the pair to drop towards targets like 148.18 (the October 10th low) and 147.65 (the embedded line of the global […]
EUR/USD Higher Timeframes At the end of yesterday, judging by the mood and the shape of the daily candle, it can be said that the advantage during the day belonged to the bullish players. However, one day did not fundamentally change the situation. The main conclusions and expectations remain the same. For the bulls, it […]
USD/JPY indicates bearish momentum with a potential bearish reaction near the 1st resistance at 149.50, leading to a possible decline to the 1st support at 148.92. The 1st support is reinforced by overlap support, while the 2nd support at 148.42 adds further strength to this support zone. On the resistance side, the 1st resistance at […]
Everything has its limits. There’s a certain boiling point after which everything changes. Bad news can become good news for a currency. I’m not sure if the euro has reached its boiling point, but weak data on German GDP and European economic confidence pushed EUR/USD to rise above 1.06. And yet, the 7% rally in […]
Weekly Review: The EUR/USD pair hit the weekly pivot point and resistance 1, because of the series of relatively equal highs and equal lows. But, the pair has risen down in order to top at the point of 1.0588. Hence, the major support was already set at the level of 1.0545. Today, the EUR/USD pair […]
Weekly review on GBP/USD for October 30-31: The GBP/USD pair will continue rising from the level of 1.2195 5today. So, the support is found at the level of 1.2153. Since the trend is above the 23.6% Fibonacci level, the market is still in an uptrend. Therefore, the GBP/USD pair is continuing with a bullish trend […]
The currency pair retreated after reaching an intraday high of 0.9048. The instrument is trading at 0.9017 at the time of writing. Still, the retreat could be only temporary. The rate could test and retest the near-term support levels before jumping higher again. Today, the Switzerland KOF Economic Barometer came in at 95.8 points above […]
The EUR/USD pair climbed as much as 1.0625 today, registering a new high. Now, it has retreated a little and is trading at 1.0605 at the time of writing. In the short term, the bias remains bullish despite minor retreats. The Euro dragged the pair higher as the USD was punished by the Dollar Index’s […]
The wave analysis for the pound/dollar pair remains relatively simple and clear. The construction of a new downtrend phase continues, with its first wave having a rather extended appearance. In my view, there is no basis for the British pound to resume an upward trend, so I don’t even consider such a scenario. The presumed […]
The wave analysis of the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we have observed only three wave structures that constantly alternate with each other. Over the past few months, I have consistently mentioned that I expected the pair to reach the 1.5 figure, where the construction of the […]
Early in the American session, gold (XAU/USD) is trading at about 2,001.11, around the 8/8 Murray, and around the 21 SMA. During the opening of this week’s trading session, gold left a bearish GAP which was completely covered. Since then, we have seen a technical correction. However, the metal is now showing signs of exhaustion. […]
The NZD/USD pair is trading at 0.5823 at the time of writing and it seems determined to hit new highs as the Dollar Index is bearish. Still, an upside continuation needs confirmation as the rate challenges a strong resistance. Today, the NZD was helped by the Australian Retail Sales data. Later, the New Zealand Building […]
Red line- support trend line Black line- bearish RSI divergence Blue lines- Fibonacci retracement levels Gold price made a new higher high last week but the RSI continued to form lower highs. The bearish divergence in the 4 hour Gold chart suggests that bulls should be very cautious as a reversal is imminent. So far […]
Red lines- bearish channel (broken) Green rectangles- higher lows Blue rectangles- higher highs Black line- support trend line EURUSD is trading around 1.0605. So far price continues to respect the black upward sloping support trend line and the recent higher lows. In the near term price has more upside potential than downside potential. EURUSD recently […]
Blue lines- Fibonacci retracement levels Red line- support trend line Yellow lines- expected path green rectangles- overbought spikes in the RSI Bitcoin is trading around $34,680 just below the 38% Fibonacci retracement of the entire decline from its all time highs. Bitcoin has started making higher highs and higher lows over the last nine months. […]
Red lines- bearish divergence Blue line- support trend line USDJPY is trading around 149.78 after making a new higher high at 150.79. Despite making a new higher high in price, the RSI did not follow but instead provided a new bearish divergence. The upside potential in USDJPY is limited. The USDJPY has broken below the […]
Last week, the European Central Bank left the key interest rate unchanged at 4.50%, noting that future monetary policy would depend on statistical data. The regulator pointed out a continued decline in inflation. However, given that it is likely to remain above target levels for an extended period, further tightening cannot be ruled out. Now […]
Analysis of transactions and tips for trading the British pound The pound remains within the channel due to the absence of significant data from the UK. Considering that there are no data releases expected in the US either, trading is likely to appear somewhat choppy and subdued. However, buyers may take advantage of this and […]
The USD/JPY pair dropped as much as 149.47 today, registering a new lower low. Now it has rebounded and is trading at 149.77 at the time of writing. After the last sell-off, the rate tries to rebound. Still, it could only test and retest the near-term resistance levels before going down. Fundamentally, the USD tries […]
On Friday, the EUR/USD pair continued a modest upward move and closed above the level of 1.0561, which suggests the possibility of further growth towards the Fibonacci level of 23.6% (1.0644). If the pair closes below the level of 1.0561, it will favor the US dollar and signal a resumption of the decline towards the […]
On the hourly chart, the GBP/USD pair rebounded from the level of 1.2106 on Friday and made a slight move towards 1.2175. However, they couldn’t reach the target level, and by Monday morning, the quotes returned to the level of 1.2106. Now, a new bounce from this level will work in favor of the pound, […]
