The EURUSD bulls controlled the price action around the key level of 1.0550-1.0600, leading to more bullish continuation towards 1.1000 and 1.1200. The recent bullish movement pursued towards the resistance zone around 1.1200 where lack of bullish momentum seemed to exist. On the other hand, the recent bearish pullback was facing a temporary support around […]
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 […]
Early in the American session, Gold (XAU/USD) is trading around 1,954, retreating after having reached a new high of around 1,962.56. Gold has been showing strong volatility since the Asian session and is now facing a strongly overbought zone. So, we could expect a technical correction to occur in the next few hours. Since opening […]
For a long time, the market only studied inflation and central banks’ interest rates to understand how to trade in the currency market. That time has passed. Currently, neither inflation, interest rates, nor rate rumors play a decisive role. Let me explain why. Today, consumer price indices for the European Union and the United Kingdom […]
For the pound/dollar pair, the wave analysis remains relatively simple and clear. The construction of a new downtrend segment continues, with the first wave dragging on significantly. In my opinion, the British pound has no grounds to resume the upward trend segment; therefore, I do not even consider such a scenario. I would like to […]
The wave analysis on 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 last few months, I have regularly mentioned that I expect the pair to be near the 5th figure, from where the construction […]
The USD/JPY pair resumed its growth and now is located at 149.85 at the time of writing. The Dollar Index’s growth forced the greenback to drag the price higher. The bias is bullish, so further growth is natural. On the other hand, the Japanese Yen depreciated as the Yen Futures dropped deeper. As you already […]
The EUR/USD pair crashed in the short term as the Dollar Index rallied. Fundamentally, the USD was somehow expected to take the lead after the US retail sales figures, Industrial Production, and Capacity Utilization Rate came in better than expected yesterday. Today, the Eurozone Final Core CPI and Final CPI matched expectations. On the other […]
Red lines- head and shoulders pattern Blue line- neckline support Bitcoin is trading around $28,350 making higher highs and higher lows after the recent low at $25,077. There is a potential Head and Shoulders pattern under formation and maybe we are currently on the right hand shoulder. If price turns lower from current levels towards […]
SPX is trading around 4.355. Today we use the Ichimoku cloud indicator to identify key support and resistance levels. In Ichimoku cloud terms trend in the Daily chart remains bearish as price is still below the Daily KUMO (cloud). SPX is trading around the kijun-sen (yellow line indicator). This is a very important pivot point […]
Red lines- bearish channel Gold price is breaking out of the bearish channel it was in since the May top. Price is trading around $1,948 as it continues making higher highs and higher lows. The RSI has still not reached overbought levels. Gold price has broken above the high from September 20th. This price action […]
Red lines – bearish channel Blue rectangle – horizontal support EURUSD is trading around 1.0555. Price recently made a high at 1.0594 where we find the upper channel boundary. Price is showing rejection signs once again. Price remains inside the red downward sloping channel. Bears remain in control of the trend. Short-term support is found […]
US stock index futures opened slightly down following yesterday’s rise during the regular trading session. S&P 500 futures dipped 0.2% while the tech-heavy NASDAQ dropped around 0.3%. Oil prices surged over 3% as Iran ramped up its rhetoric against Israel after a hospital explosion in Gaza, complicating Middle East conflict resolution efforts. Gold prices climbed […]
During today’s Asian trading session, the Australian dollar sharply strengthened after the release of positive macroeconomic data from China, which turned out to be better than forecasted. AUD/USD reached an intraday high and a 4-day high at 0.6392. Furthermore, the Australian dollar has been actively gaining strength in recent days in the major currency pairs, […]
The GBP/USD currency pair is trading near the 21st and 22nd levels. Despite a fairly busy economic calendar, GBP/USD traders are in no hurry to open large positions, neither the buyers nor the sellers. Overall, the markets are experiencing contradictory dynamics as investors assess the latest macroeconomic reports and news related to the conflict in […]
In my morning forecast, I drew attention to the level of 1.2179 and recommended making market entry decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The decline and the formation of a false breakout at this level provided an excellent entry point for buying, resulting in […]
In my morning forecast, I drew attention to the level of 1.0594 and recommended using it to make entry decisions. 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 1.0594 provided an excellent entry point for short positions, resulting in a […]
On the 4-hour chart, the Silver commodity asset appears to be in an upward rally. This is confirmed by the price movement which is above the Moving Average with an upward slope plus the MACD Histogram which is in the positive area, where previously being in the ranging area has now managed to come out […]
With the appearance of deviations between price movements and the RSI (4) indicator on the 4-hour chart, the AUD/JPY cross currency pair has the potential to continue its strengthening, where it is confirmed by the AUD.JPY price movement moving inside the channel that is going above and the Moving Average indicator is moving upwards that […]
Analysis of transactions and trading tips on GBP/USD Further decline became limited because the test of 1.2180 coincided with the sharp downward movement of the MACD line from zero. The released inflation data did not provide much help to buyers, so market balance remained. equilibrium was maintained. However, during the US session, there will be […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0570 earlier in the day took place when the MACD line moved downward from zero, prompting a signal to sell. This resulted in a price decrease of about 15 pips. Further decline in EUR/USD can be expected, especially after data indicating a decrease in […]
The EUR/USD pair continued to rise on Tuesday and closed above the corrective level of 161.8% (1.0561). Thus, the rise of the European currency may continue today towards the next level at 1.0637. If the pair secures a rate below 1.0561, it will work in favor of the US dollar, renewing the decline towards the […]
According to the annual LBMA survey following the conference, participants stated that gold will outperform the precious metals market. However, certain observations and comments during the conference supported silver, evaluating its affordability compared to its fundamental indicators. As per analysts, despite the Federal Reserve maintaining interest rates at a restrictive level for most of 2024, […]
As the Federal Reserve plays a crucial role in markets, its uncertainty regarding potential interest rate hikes adds intrigue. Currently, everyone awaits Fed Chairman Jerome Powell’s speech tomorrow, since he may clarify the central bank’s stance on the future monetary policy. Of particular interest will be the recent shift in the statements of Fed representatives […]
On the hourly chart, the GBP/USD pair displayed a decline below the 1.2175 mark on Tuesday, followed by a reversal and an ascent beyond 1.2175. In my previous discussion, I pointed out that the 1.2175 level lacks strength, and signals shouldn’t be anticipated near it. The uptrend may persist, heading toward the 161.8% correction level […]
Let’s take a look at the technical picture of EUR/USD, Oil and SP500. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500… April 16, 2024 We introduce you to the daily updated section of Forex…Hot forecast for EUR/USD on April 16, 2024 April 16, 2024 […]
Potential for the further rally on the Gold… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar…Behind the scenes of Wall Street’s rise: the impact of… April 8, 2024 At […]
Details of the Economic Calendar on October 17 At the beginning of the European trading sessions, the publication of labor market data in the United Kingdom was expected. However, an unusual situation occurred when the release of unemployment data was suddenly postponed to the following week, even though wage data was published as planned. These […]
The GBP/USD currency pair traded differently on Tuesday compared to the EUR/USD pair, which happens relatively rarely. However, yesterday in the UK, a set of statistics was released (which is also not very common) and had no relation to the euro, yet it exerted pressure on the British pound. As a result, the pound remained […]
Yesterday, the pair formed several entry signals. Let’s see what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.2185 as a possible entry point. A breakout and retest of this range produced a sell signal, sending the pair down by about 40 pips. Long positions on a false breakout […]
