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, […]
The US dollar remains stable, and investors are avoiding major transactions ahead of the Federal Reserve meeting. It is scheduled for October 31. It will end on Wednesday with the publication of the key rate decision. After that, a press conference will start, during which the Federal Reserve Chair will explain the bank’s decision and […]
Let’s take a look at the technical picture of EUR/USD, GBP/USD, USDX and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly forecast based on simplified wave analysis of… April 8, 2024 GBP/USDAnalysis:Since July last year, the main direction of price movement…Weekly forecast based on simplified wave analysis of… April 8, […]
In my morning forecast, I turned your attention to the level of 1.2100 and recommended making decisions on entering the market with this level in focus. Let’s look at the 5-minute chart and try to understand what happened there. The decline and a false breakout at this level produced an excellent entry point into long […]
In my morning forecast, I paid attention to the level of 1.0554 and recommended making decisions on entering the market from there. Let’s look at the 5-minute chart and try to grasp the point what happened there. EUR/USD declined in the first half of the day. A false breakout at 1.0554 generated a buy signal, […]
The price of gold is trading in the red at 1,993 at the time of writing. After Friday’s amazing rally, a retreat is natural. Still, the rate could only test and retest the near-term support levels before jumping higher again. The bias remains bullish, so further growth is natural despite temporary retreats. Fundamentally, XAU/USD extended […]
Technical analysis: BTC/USD has been trading sideways at the price of $34.340 and there is potential for the breakout mode. In case of the breakout of the resistance at $35.200, there is the chance for the rally and growth towards $36.920 In case of the downside breakout of the support at $33.250, there is the […]
The GBP/USD currency pair didn’t show any interesting movements on Friday. The chances of a renewed downward trend for the British pound are much higher than for the euro. However, the local minimum from October 4th hasn’t been broken yet, indicating that the correction may still continue. The correction, though, appears weak and awkward, but […]
Potential for the downside movement on the EUR The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Outlook for EUR/USD on April 5. The inconsistent market and… April 8, 2024 Analysis of EUR/USD 5M EUR/USD tried to start a logical…Video market update for April 05, 2024 April 7, 2024 Potential for the further […]
Technical analysis: USD/JPY has been trading downside in the background but I found rejection fo the support and bullish divergence in momentum, which is good sign for the further rally. Due to the bullish divergence in momentum and rejection of the support at 149.35, I see potential for the further growth towards upside references. Upside […]
The EUR/USD currency pair attempted to correct itself once again on Friday, but volatility remained low. The price barely managed to reach the moving average. Therefore, the overall ascending correctional movement may persist as the last local minimum has not been breached. This week, the pair may form a new upward correction phase, but strong […]
The EUR/JPY extended its sell-off and now is located at 157.74 at the time of writing. The downside pressure is high, so more declines are favored. You knew from my previous analysis that the price action announced a potential larger drop. Fundamentally, the Spanish Flash CPI reported only a 3.5% growth versus the 3.8% growth […]
Technical analysis: Gold has been trading downside this morning and I found that market is re-testing previous resistance level at $1.993. If market can’t reject of the previous swigns highs, it is the sign for the further weakness. In case of the rejection of the area at $1.993, there is the chance for the re-test […]
#Bitcoin Analysis: The wave analysis of the unfinished segment of the dominant bullish trend since November of last year indicates the completion of the horizontal correction phase. The ascending segment potential from September 12th has reversal potential. After a strong level in the form of a corrective flat was confirmed at the end of last […]
EUR/USD Higher Timeframes Last week, the bears were discouraged by the uncertainty surrounding the last couple of days, and as a result, we recorded a bearish sentiment, represented by a long lower shadow of the weekly candle, on the chart. The pair can leave the area of the bullish correction once it breaches the support […]
Crypto Industry News: U.S. Deputy Treasury Secretary Wally Adeyemo confirmed in a speech on Friday that cryptocurrencies play a significant but still relatively small role in global terrorism financing operations. His words clearly contrast with the claims of congressmen earlier this month, who stated that Hamas had been supported with as much as USD 130 […]
Crypto Industry News: Elon Musk has revealed that he is transforming his X platform (formerly Twitter) into an all-in-one financial platform. “When I talk about payments, I’m really talking about a person’s entire financial life… If it involves money, it will be on our platform,” he said. He added that people would no longer “need […]
Technical Market Outlook: The GBP/USD pair has been seen continuing the down move towards the Octobers low located at the level of 1.2036. The local low was made at the level of 1.2068 and currently bulls are trying to bounce above the 50 MA seen at 1.2129. The intraday technical resistance is located at 1.2161 […]
Technical Market Outlook: The EUR/USD pair had broken below the technical support seen at the level of 1.0584 and is currently trading around the 50 and 100 MA on the H4 time frame chart. The nearest technical resistance is located at the level of 1.0608 and the intraday technical support is seen at the level […]
After a relatively active first half of the previous week, the market seems to have entered a sort of stagnant phase. While we witnessed moderate activity on Friday, volatility was quite modest. In general, the pound stayed put. The market needed to take a break to regroup, especially considering the significant events scheduled for this […]
From the weekly chart, the AUD/USD commodity currency pair appears to be dominated by sellers, where this can be seen from the price movement which is below WMA 30 with a decreasing slope, where in the next few weeks AUD/USD seems to be trying to test the 0.6171 level. If this level If it is […]
On the daily chart of EUR/CHF Cross Currency Pairs is currently moving weaken where this things seens from its price movement under WMA 30, so that in a few days ahead as long as there is no upward correction which is exceed the level 0,9613, EUR/CHF has the potential to go down up to the […]
