Indicator analysis: Daily review of GBP/USD on May 11, 2023

Trend analysis (Fig. 1). The market may move downward from the level of 1.2621 (closing of yesterday’s daily candle) with the target of 1.2550, the 38.2% pullback level (blue dotted line). When testing this level, the price may move upward with the target of 1.2582, the historical resistance level (blue dotted line). Fig. 1 (daily […]

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Indicator analysis: Daily review of EUR/USD on May 11, 2023

Trend analysis (Fig. 1). The market may move downward from the level of 1.0981 (closing of yesterday’s daily candle) to 1.0930, the historical support level (blue dotted line). From this level, the price may move upwards with the target of 1.0977, the 23.6% pullback level (red dotted line). Fig. 1 (daily chart). Comprehensive analysis: Indicator […]

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Hot forecast for GBP/USD on 11/05/2023

As predicted, inflation in the United States has decreased from 5.0% to 4.9%. However, the scale of the dollar’s weakening turned out to be modestly small. Investors were puzzled by the monthly data. As consumer prices rose by 0.4% in a month, against a forecast of 0.3%, which somewhat hints at the possibility of maintaining […]

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BTC update for May 11,.2023 – Rejection of the key support

Technical analysis: BTC/USD has been trading downside but I found rejection of the key support level at $27.000, which is good sign for the further upside rotation. Due to the strong rejection of the key support at $27.000 and the strong upside cycle in the background, I see potential for the further rally. Upside objectives […]

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USD/JPY analysis for May 11, 2023 – Potential for the further downside movement

Technical analysis: USD/JPY has been trading downside and the second downside leg is in creation. Potential for the further downside movement. Due to the downside movement and the breakout of the tight range in the background, I see potential for the further drop towards lower references. Downside objectives are set at the price of 133.00 […]

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Analysis and trading tips for EUR/USD on May 11

Analysis of transactions and tips for trading EUR/USD The test of 1.0965 happened when the MACD line had just started to move below zero, which was a good reason to sell. Accordingly, there was a price decrease of about 20 pips. No other market signal appeared for the rest of the day. CPI data from […]

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Technical Analysis of ETH/USD for May 11, 2023

Crypto Industry News: The latest survey conducted by Goldman Sachs among family businesses shows a decrease in interest in cryptocurrencies. The Family Office Investment Insight Report 2023 surveyed 166 family businesses between January 17 and February 23, 2023. 57% of respondents were based in the Americas, 21% in EMEA, and 22% in APAC. Of the […]

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Technical Analysis of BTC/USD for May 11, 2023

Crypto Industry News: May 8 Bittrex Inc. filed for Chapter 11 bankruptcy protection. The move came three weeks after the SEC accused the company of operating an unregistered stock exchange. According to the filing, Bittrex had assets between $500 million and $1 billion. It also stated that there were more than 100,000 creditors. The company […]

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EUR/USD. Overview for May 11th. American inflation did not help the dollar

The EUR/USD currency pair began the new week very calmly and measuredly and continues that way. Yesterday, the first more or less significant report was published in the States. In fact, due to its “significance,” this report is now one of the most important ones, as inflation directly affects the monetary policy of a central […]

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Technical Analysis of Daily Price Movement of Nasdaq 100 Index, Thursday May 11, 2023.

On the daily chart, Nasdaq 100 index seems moving inside the Bullish Pitchfork channel harmoniosly where #NDX currently struggle to continue its rally by trying to test the level of 13720,3. However, with the appearance of deviation between #NDX price movement with Awesome Oscillator indicator gave the clue if there is a potential of downward […]

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USDCAD, H4 | Ranging momentum?

The USD/CAD chart is currently indicating neutral momentum, with the price potentially moving between the 1st resistance and 1st support levels. On the support side, the 1st support level is at 1.3317, an overlap support level that corresponds with a 78.60% Fibonacci retracement. This level may provide support if the price declines. Another intermediate support […]

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WTI, H4 | Continue to 1st Resistance?

The WTI chart is exhibiting a bullish momentum, as the price has broken above a descending resistance line, which could potentially trigger a bullish move. The current price is also on an ascending trend line acting as support. If the bullish momentum continues, the price could potentially move towards the 1st resistance level at 74.38, […]

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USDCHF, H4 | Descending Trendline Acts as Resistance?

The USD/CHF chart is currently displaying bearish momentum, as the price is below a major descending trend line, indicating the likelihood of further bearish movement. In the event that this bearish momentum persists, the price may potentially decline towards the first support level at 0.8862, which is an overlap support level and also corresponds with […]

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Forecast for EUR/USD on May 11, 2023

EUR/USD Yesterday’s US data showed a weak decline in inflation in April. The overall and core CPI decreased by 0.1% to 4.9% YoY and 5.5% YoY, respectively, while in the monthly assessment, the CPI grew by 0.4% in each index. What the markets did: Dow Jones -0.09%, S&P 500 +0.45%, almost all European stock markets […]

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Forecast for GBP/USD on May 11, 2023

GBP/USD The pound traded in a 75-point range yesterday, with trading limited by the target levels of 1.2598 and 1.2666 (slightly crossing over the upper level). Today, the pound awaits the Bank of England’s decision to raise the rate by 0.25% to 4.50%. If investors have not yet forgotten John Williams’ warning from the Federal […]

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Forecast for USD/JPY on May 11, 2023

USD/JPY After the price reached the target level of 135.40 on Wednesday, it returned below the price channel line (134.50). The target on the MACD indicator line is 133.03. The Marlin oscillator approached the zero line and presents two different interpretations: either the oscillator’s signal line will reverse from this zero boundary and pull the […]

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Markets cautious ahead of the US inflation report. Overview of USD, EUR, GBP

Markets were cautious on Wednesday morning as they await the results of talks between Biden and House Speaker McCarthy on the US debt ceiling. Both sides are not willing to consider short-term solutions that would allow raising the borrowing ceiling and are not ready for compromises. A quick solution should not be expected, and perhaps […]

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Technical analysis of GBP/USD for May 11, 2023

Overview: The GBP/USD pair has faced strong support at the level of 1.2585 because resistance became support. So, the strong resistance has been already faced at the level of 1.2678 and the pair is likely to try to approach it in order to test it again. The level of 1.2585 represents a weekly pivot point […]

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Ripple: 0.4101 as critical support

Ripple is trading in the red at 0.4205 at the time of writing and it seems very heavy. Bitcoin’s drop forced the altcoins to drop as well. XRP/USD dropped by 5.08% from today’s high of 0.4340 to 0.4120 daily low. In the last 24 hours, XRP/USD is down by 0.51% and by 7.37% in the […]

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EUR/USD trapped within range

The EUR/USD pair continues to move sideways in the short term. It’s trading at 1.0977 at the time of writing. The price registered sharp movements in both directions today as the US reported high-impact events. The bias is still bullish despite minor retreats as the DXY could drop again anytime. Fundamentally, the US inflation data […]

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Gold: new bearish pattern

The price of gold climbed as much as 2,048 today where it has found resistance. Today’s rally was caused by the US inflation data dump and was only temporary. Technically, the price action developed a downside pattern. Now, it’s trading at 2,026 at the time of writing. Fundamentally, the US inflation figures represented high-impact events […]

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May 10, 2023 : EUR/USD Intraday technical analysis and trading plan.

The EUR/USD pair dropped to 0.9600, a level last seen in 2002, and then bounced back strongly, especially near this crucial support level. The next resistance level at 1.0100 did not stop the bulls, who pushed the prices higher along the bottom of the shown movement channel. This led to reaching new bullish targets at […]

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May 10, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

The market showed a bullish trend from 1.0400 to 1.0600, which stopped more losses. Bulls supported the higher lows at 1.1150 and 1.1750, suggesting a possible bullish continuation above 1.1750. At 1.2340, bears resisted the price at first, but bulls bounced back. However, the GBPUSD bulls failed to make a new high and instead formed […]

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EUR/USD upward trend recovery still slim amid U.S. inflation slowdown

On Forex, there are always two sides. “Bulls” and “bears.” Winners and losers. Fear and greed. And now, the market is divided into two camps. Some argue that the U.S. economy will slide into a recession, and the Fed will make a “dovish” pivot. This gives reason to sell the U.S. dollar. Others, on the […]

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