Technical analysis: GBP/USD has been trading upside in the background and the price has reached upside objective at 1.2222 but I see pullback this morning and potential for teh further rally after the pullback. Due to the breakout of the consolidation and strong momentum in the background, I see potential for the further rally after […]
EUR/USD Higher Timeframes Bullish players decided to utilize the slight advantage they had yesterday and were the first to make themselves known. To achieve their targets, they ventured beyond the weekly cloud (1.0610) and the daily cross (1.0627), rising above the levels of the upcoming resistances. Today, a test of the encountered resistance zone at […]
The US dollar rapidly started losing ground as soon as the US trading session opened, even in the absence of economic reports and news flow. It is unclear what caused such a massive sell-off. One might attempt to link it to calls in the Arab world to impose an embargo on oil supplies to Israel, […]
Trend analysis EUR/USD may begin moving upwards this week, starting from the level of 1.0593 (closing price of the last weekly candle) to the 23.6% retracement level of 1.0673 (red dashed line). Upon reaching this price, the pair will continue rising to the 21 EMA located at 1.0733 (black thin line). Fig. 1 (weekly chart) […]
Trend analysis This week, GBP/USD may move upwards from the level of 1.2159 (closing price of the last weekly candle) to the 23.6% retracement level of 1.2353 (red dashed line). It will continue to the 21 EMA located at 1.2414 (black thin line). Fig. 1 (weekly chart) Comprehensive analysis: Indicator analysis – upward Fibonacci levels […]
Litecoin is currently re-testing resistance at 70.44 after a temporary break above. We expect the former resistance now will act as support, but we could see a setback towards 68.82 before the next strong rally higher to test resistance at 72.69. A break above here will accelerate Litecoin higher towards resistance near 85.00, but ultimately, […]
EUR/USD has broken clearly through resistance at 1.0617 confirming that wave 2 has completed with the test of 1.0448 and wave 3 now is in motion for a rally towards 1.2085. The former resistance at 1.0617 will now act as support, but only an unexpected break back below support at 1.0495 will shift the focus […]
EUR/USD Yesterday’s wait-and-see approach yielded a positive result – late in the evening, the euro broke above the Fibonacci golden ratio and the resistance range at 1.0613/1.0640, signaling its intention to continue the medium-term uptrend. To solidify this intention, the price needs to break above the MACD indicator line around the 1.0714 mark. A significant […]
GBP/USD Yesterday, the pound sterling significantly moved away from the embedded price channel line, getting closer to the balance indicator line and the target level at 1.2307. The uptrend remains intact. There’s a good chance that the pair will surpass the initial target, and will head towards another price channel line, to which the MACD […]
AUD/USD On Monday, the Australian dollar tested the support level at 0.6295 once again, and after bouncing off it, confidently moved towards the target level at 0.6388. US stock markets closed mixed yesterday, showing signs of a reversal into an upward correction. The Australian dollar, as a risk currency, is ready to catch this growth. […]
The XAU/USD chart currently shows bearish momentum, suggesting potential further decline towards the 1st support at 1947.23, which aligns with an overlap support. The 2nd support at 1931.57 adds to this bearish outlook as a pullback support. On the resistance side, the 1st resistance at 1984.47 has historically acted as a strong barrier to upward […]
Analysis of transactions and tips for trading GBP/USD The test of 1.2157, coinciding with the upward movement of the MACD line from zero, prompted a buy signal that led to a price increase of around 30 pips. The pair hit 1.2195 during the mid-US session. The empty macroeconomic calendar in the US helped buyers continue […]
On the 4 hour chart of CAD/JPY commodity currency pairs, there is seems the deviation between its price movement with Stochastic Oscillator indicator so that in the near future CAD/JPY has the potential to weaken, where if it is manage under the level of 109,01, then, CAD/JPY has the potential to continue its weakness up […]
If we look at the 4 hour chart of GBP/AUD cross currency pairs, there is seems the appearance of the deviation between price movement with RSI indicator where it gives the clue that in the near future GBP/AUD has the potential to weaken up to the level 1,9075 as the first target and level 1,8973 […]
Lately, the wave analysis for both instruments has raised no questions. For a long time, the first waves of new downtrends were being formed. Now, the construction of the second waves has begun, which may conclude shortly or take a complex corrective form (e.g., a-b-c-d-e). Regardless, the increase in quotes continues, and economists and analysts […]
The Bank of Canada will hold its meeting on October 25, which is also the penultimate meeting of the year. According to the overwhelming consensus among experts, the central bank will maintain all of its monetary policy parameters as they are. However, some intrigue surrounds the upcoming meeting of central bank members. There is no […]
Last week, Federal Reserve Chair Jerome Powell spoke at the Economic Club of New York, with the key theme of his speech being that the FOMC is “proceeding carefully”. The markets inferred from his speech that the expected rate hike in November likely won’t happen and, there’s a good chance that it may not happen […]
Analysis of Monday trades: EUR/USD 1H chart The EUR/USD currency pair experienced a sharp and unexpected surge during Monday’s trading session. There were no significant events or economic releases scheduled for the first trading day of the week. Mondays are often characterized by lower volatility and a lack of clear trend movements, making them somewhat […]
Overview : The market opened below the weekly pivot point (1.2354). It continued to move downwards from the level of 1.2354 to the bottom around 1.2235. But, the trend rebounded from the bottom of 1.2253 to set around the area of 1.2290. The first resistance level is seen at 1.2354 followed by 1.2390, while daily […]
Weekly review on EUR/USD for October 23-27: The EUR/USD pair was argumentative as it was trading in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still moving between the levels of 1.0534 and 1.0780. Resistance and support are seen at the levels of 1.0780 (also, the […]
Bitcoin Cash is trading in the green at 247.86 at the time of writing. The bias is bullish in the short term, so further growth is natural. Bitcoin’s rally helped the altcoin to jump higher as well. BCH/USD increased by 23.35% from 206.50 October’s low to yesterday’s high of 254.71. In the short term, temporary […]
NZD/USD Upside Reversal! The NZD/USD pair is located at 0.5849 at the time of writing. As you can see on the H1 chart, the rate dropped within a down channel. Its failure to reach and retest the downside line signaled exhausted sellers. Now, it has passed above the downtrend line indicating that the downtrend could […]
The USD/JPY pair is trading in the red at 149.70 at the time of writing and it seems very heavy in the short term as the Dollar Index crashed, while the Japanese Yen Futures bounced back. The price action signaled exhausted buyers and announced a potential correction. Fundamentally, the Japanese BOJ Core CPI may report […]
The EURUSD pair broke above the key level of 1.0550-1.0600 and continued its bullish trend towards 1.1000 and 1.1200. The bulls reached the resistance zone around 1.1200 but failed to sustain the momentum. Meanwhile, the bears pulled back the price towards 1.0950 where the pair met the short-term uptrend line. The price reversed from this […]
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 […]
The GBP/USD pair faced a strong resistance near 1.3200 and started a fresh downtrend. It broke the 1.2800 support level on a H4 candlestick and extended its decline towards 1.2500, where it met a crucial Fibonacci retracement level. This could be a good opportunity for intraday traders to go long, with a stop loss just […]
The EUR/USD pair rallied in the last hours and it seems determined to approach and reach new highs. The USD lost significant ground versus its rivals as the Dollar Index crashed. The currency pair is located at 1.0642 at the time of writing. You knew from my previous analysis that the price could extend its […]
The wave analysis of the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we have seen only three wave structures that continuously alternate with each other. For the last few months, I have regularly mentioned that I expect the pair to approach the 1.5 figure, where the construction of the […]
Early in the American session, EUR/USD is trading around 1.0613 below the 21 SMA and within a symmetrical triangle pattern. In the last few hours, the euro has been bouncing above the 21 SMA (1.0573) but showing exhaustion. The interest rate decision from the European Central Bank (ECB) will be published on Thursday and no […]
In my morning forecast, I drew attention to the level of 1.2180 and recommended using it as a reference point for market entry decisions. Let’s examine the 5-minute chart and see what transpired. The rise and the formation of a false breakout at this level provided an excellent selling point, resulting in a drop of […]
