“Buy the rumor, sell the fact.” Over the past three days, EUR/USD quotes have been declining, reflecting expectations of the U.S. economy accelerating more than twice in the third quarter compared to the second and forecasts for the deposit rate to remain at 4%. When the ECB actually paused and the U.S. GDP expanded even […]
The euro dipped upon receiving news that the European Central Bank has concluded its streak of interest rate hikes in spite of looming inflationary risks. These risks stem from surging oil market asset prices and the ongoing conflict between Israel and HAMAS. It was revealed that the benchmark rate remains fixed at 4.5% after a […]
In an unexpected turn, the U.S. economy in the third quarter displayed a resilience that outstripped most projections, fueled predominantly by buoyant consumer demand. This bullish trend emerged even as analysts pointed to heightened interest rates, surging inflation, and a myriad of internal challenges that could have potentially weighed down growth metrics. A report by […]
Let’s take a look at the technical picture of GBP/USD, EUR/USD, USD/JPY and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April 18, 2024 We introduce you to the daily updated section of Forex…Hot forecast for EUR/USD on April 18, 2024 April 18, […]
US stock futures opened lower following the release of several corporate reports from major American companies. S&P 500 futures dropped 0.8%, while the tech-heavy NASDAQ plummeted by 1.0%. Meta Platforms Inc., the parent company of Facebook, saw its shares fall by 4% in premarket trading due to poor performance and concerns about the uncertain economic […]
In my morning forecast, I paid attention to the level of 1.2070 and recommended making decisions on the market entry with this level in focus. Let’s look at a 5-minute chart and figure out what happened there. The price decrease and a false breakout at this level created an excellent entry point for long positions. […]
CHF/JPY Overbought! The CHF/JPY pair is located at 167.50 at the time of writing. As you can see on the H1 chart, the rate moves somehow sideways. It has changed little, that’s why we need confirmation before taking action again. Technically, the price dropped below the uptrend line, signalling exhausted buyers and an overbought market. […]
Despite investors’ concerns about currency interventions by the Bank of Japan, yesterday, the USD/JPY pair finally broke through the psychologically significant level of 150.00, and at the beginning of today’s European trading session, it briefly exceeded the 150.70 mark. However, it then sharply declined below the 149.90 level. The intraday volatility was 96 points. Economists […]
USD/CHF New Uptrend! The USD/CHF pair is located at 0.8980 at the time of writing, below today’s high of 0.8996. As you can see on the H1 chart, the rate jumped above the downtrend line signaling that the downtrend ended and that we may have a reversal. Personally, I’ve drawn an uptrend line which represents […]
For a third day in a row EURUSD is under pressure. Price has broken below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Trend remains bearish and price vulnerable to a deeper decline. Bulls made an attempt to push price above the tenkan-sen and kijun-sen indicators but failed to defend 1.06-1.0590. What […]
Gold price is trading around $1,986. Short-term trend remains bullish as price is supported and remains above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Price is well above the Kumo (cloud) which is our main criteria. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). The tenkan-sen […]
Red lines- bullish channel Blue lines- Fibonacci retracement levels Nasdaq is trading around 14,240. Price recently broke to new lower lows below the 23.6% Fibonacci retracement. As was expected by our previous posts, Nasdaq index is moving lower towards the key Fibonacci 38% retracement level at 13,945. Since the break out of the bullish channel […]
Red lines- bearish RSI divergence blue line- support trend line Black line- resistance trend line Blue rectangle- short-term target USDJPY is trading around 150.40. Short-term trend remains bullish. Price yesterday broke above the black resistance trend line while at the same time respects the blue upward sloping support trend line. USDJPY is approaching our 151.50-152 […]
Analysis of transactions and trading tips on GBP/USD Further growth became limited because the test of 1.2088 coincided with the strong upward movement of the MACD line from zero. During the US session, GDP data for the 3rd quarter will come out, along with the reports on jobless claims and orders for durable goods. FOMC […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0538, which occurred earlier in the day, coincided with the downward movement of the MACD line from zero, leading to a signal to sell. However, as of the time of writing this article, a sharp price decrease has not yet occurred. Most likely, everything […]
The greenback began the week on a weak note. On Monday, the dollar fell by about 0.5%. During the start of the European session on Tuesday, it dipped to monthly lows around 105.30. However, later, it recouped its early losses and ended the trading session with a rise of almost 0.7% to around 106.20. On […]
In the previous forecast, I drew your attention to the level of 1.0528 and recommended entering the market from it. Looking at the 5-minute chart, the euro/dollar pair did decline in the morning, almost testing 1.0528. The absence of significant data and the European Central Bank’s (ECB) anticipated interest rate decision impacted the pair’s volatility […]
The USD/JPY pair has been testing the 150 level for the second day in a row, despite the risks of currency intervention by the Japanese government. USD/JPY traders have been besieging the key resistance level of 150.00 for over three weeks (since the beginning of October) but have hesitated to conquer new price territories. However, […]
The Bitcoin bull rally above the $34k level continues despite the gradual formation of a local resistance zone. The bulls continue to push the price of the asset above $34k, leading to the formation of a support zone near the psychological mark of $34k. Over the past two days, buyers managed to consolidate above the […]
The higher the USD/JPY quotes rise, the more often the market recalls currency interventions. The pair flirting with the psychologically significant level of 150 is strikingly similar to the events of autumn 2022. Back then, the Bank of Japan spent about $60 billion to save the yen. It didn’t work the first time, but luck […]
The EUR/USD pair continued its decline on Wednesday, securing its position below the ascending trend corridor and the corrective level of 161.8% (1.0561). Thus, trader sentiment has turned “bearish,” and the decline in quotes may continue towards the next level at 1.0489 or slightly higher, where one of the recent price lows is located. A […]
On the hourly chart, the GBP/USD pair rebounded on Wednesday from the 1.2175 level, reversing in favor of the US dollar and resuming its decline. By the end of the day, it had closed below the 1.2106 level. Thus, the process of falling prices may continue towards the next corrective level at 200.0%–1.2039. A rebound […]
Sentiment in the gold market has become more optimistic. Due to increasing geopolitical uncertainty, the demand for safe-haven assets has further increased, and the prices of the precious metal have returned to $2000 per ounce. Traders should pay attention to the support around $1950 per ounce. However, there is a high probability that $2000 may […]
The GBP/USD currency pair continued its downward movement on Wednesday and has currently descended to the Murray level of “2/8”-1.2085. In principle, this level can also be considered the “last hope” for the pound. If it is breached, then the resumption of the downtrend will remain practically the only available option. In general, it already […]
Details of the Economic Calendar on October 25 The macroeconomic calendar was practically empty on Wednesday, and the only event worth noting was the data on the construction sector in the United States. These data showed a 12.3% increase in new home sales in September. Analysis of Trading Charts from October 25 The EUR/USD currency […]
Potential rally on the AUD/USD The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Dollar pulls back; ECB sends clearer cut… April 12, 2024 Dollar takes a breather, but Fed bets remain unchanged Euro…The market is disappointed and softening expectations for… April 12, 2024 After the latest inflation report showed […]
Yesterday, the pair formed several entry signals. Let’s have a look at what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.0586 as a possible entry point. A decline and a false breakout near this mark generated a buy signal. However, even despite the good reports, the pair failed […]
The EUR/USD currency pair continued its downward movement easily and calmly throughout Wednesday. The euro’s decline persisted even during the night, when significant price changes are not typically expected. In the illustration above, two segments of an upward correction are clearly visible, indicating that the pair has formed a classical corrective structure consisting of three […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move downward from the level of 1.2107 (closing of yesterday’s daily candle) to the lower fractal at 1.2036 (red dotted line). In the case of testing this level, an upward movement is possible to the lower fractal at 1.2089 (daily candle from 10/19/2023). Fig. 1 (daily […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move downward from the level of 1.0565 (closing of yesterday’s daily candle) to 1.0519, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible with a target at 1.0569, the 14.6% pullback level (blue dotted line). Fig. […]
