Analysis of Tuesday’s trades: EUR/USD 1H chart On Tuesday, the EUR/USD currency pair demonstrated a pronounced volatility, underpinned by a flurry of macroeconomic indicators. We had previously cautioned traders about the anticipated release of significant economic data. While these weren’t expected to elicit a robust market reaction, they certainly had the potential for moderate market […]
Neither strong macro statistics in the United States nor the rise in U.S. Treasury yields, nor concerns about the Italian budget and the crisis in the Middle East have prevented the “bulls” on EUR/USD from continuing their counterattack. Speculators are gradually reassessing their positions on the euro, believing that many “bearish” factors are already priced […]
The price of Bitcoin is located at 28,561 at the time of writing and it seems determined to extend its growth. As you already know, the crypto retreated after yesterday’s rally. It has climbed as much as 29,900 where it has found strong resistance. BTC/USD is up by 1.63% in the last 24 hours and […]
CHF/JPY: Uptrend Unharmed! The currency pair resumed its growth and now is trading at 166.29. The uptrend line represents a downside obstacle, so as long as it stays above it, the price could resume its growth. The former high of 166.53 (historical level) represents an upside obstacle. So, it remains to see how it reacts […]
As of writing, USD/CAD was trading near the level of 1.3630, practically at a significant short-term support level (200 EMA on the 1-hour chart). Furthermore, the pair is developing an upward trend, trading in the zone of medium-term (above the 1.3440 support level, 200 EMA on the daily chart), long-term (above the 1.3145 support level, […]
Despite the sharp rise in oil prices amid events in the Middle East, the Canadian dollar has failed to gain significant support. The USD/CAD pair still maintains its positive long-term and medium-term dynamics despite the decline over the past two trading days. Today at 12:30 GMT, fresh inflation data for September will be published in […]
The wave analysis on the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we’ve only seen three-wave structures that constantly alternate with each other. In recent months, I’ve regularly mentioned that I expect the pair to reach around the 1.5 figure, from where the construction of the last upward three-wave […]
Early in the American session, Gold (XAU/USD) is trading around 1,924.42, bouncing above the 21 SMA located at 1,919. During the Asian session, XAU bounced around 1,912 and continued to rise. Now, it has gained more than $12 and is showing a resumption of the upward trend. According to the 1-hour chart, gold has bullish […]
The price of gold is trading in the green at 1,929 at the time of writing. The bias is bullish, so further growth is natural. Technically, after such an impressive growth, a correction was natural. The USD’s short-term depreciation helped XAU/USD to hit new highs. Fundamentally, Gold remains bullish as the Canadian and New Zealand […]
Red lines- bearish channel Green line -support trend line GBPUSD is trading around 1.2150. Trend remains bearish as long as price stays inside the red downward sloping channel. Recently price got rejected at the upper channel boundary and so far has formed a higher low. The green support trend line connecting the recent lows is […]
Green line- support trend line Yellow rectangles- horizontal support Blue rectangle- target area USDJPY is trading around 148.77. Trend remains bullish as price continues making higher highs and higher lows above the green upward sloping support trend line. Recent price action with long lower tailed candlesticks suggest that the trend is supported. Price continues making […]
Red lines-bearish channel Blue rectangle- short-term support EURUSD is trading around 1.0550. Earlier today bulls tried to push price higher towards the upper channel boundary at 1.0602. Bulls failed. Price remains inside the red downward sloping channel it was in. After the rejection at 1.0640 price is under pressure. New lows should be expected, specially […]
The GBP/USD pair is trading at 1.2138 at the time of writing and it seems determined to hit new lows. In the short term, it has tried to rebound as the Dollar Index retreated a little. Now, the DXY rallied, boosting the greenback. The bias remains bearish despite temporary rebounds. Fundamentally, the UK Average Earnings […]
Red lines- bearish channel Gold price is trading around $1,921. After the strong bounce last Friday from $1,868 to $1,932, Gold price is now consolidating near its recent highs. This is important resistance area because here we also find the upper channel boundary. Gold longs are still not out of danger. Price remains inside the […]
Let’s take a look at the technical picture of EUR/USD, AUD/USD, USD/CAD and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly Forex Outlook: 12/04/2024 – More inflation data on… April 12, 2024 CPI numbers due in the UK and Japan. China to also…Bitcoin holds above $70,000 as halving event looms – […]
In my morning forecast, I emphasized the level of 1.2185 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. A breakout and a subsequent retest of this range generated a sell signal, resulting in a significant drop and allowing traders to capture about […]
The AUD/USD currency pair is demonstrating a corrective rise following an impulsive decline observed last week (the low was fixed at the 0.6290 mark). The pair has been rising for the second consecutive day, paying no attention to the conflicting dynamics of the greenback. The U.S. Dollar Index this week has been unable to determine […]
In my morning forecast, I drew attention to the level of 1.0538 and recommended making trading 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 1.0538 led to an excellent entry point for long positions, resulting in […]
The EUR/USD pair reversed its direction on Monday, moving back to the corrective level of 161.8% (1.0561), bouncing off of it, and turning in favor of the US dollar. Therefore, the downward trend may continue today towards the level of 1.0489. If the pair’s rate consolidates above the 1.0561 level, it will favor the European […]
On the hourly chart, the GBP/USD pair reversed in favor of the British on Monday and rose above the level of 1.2175. However, today there was a return to the level of 1.2175, and if it holds below, it will favor the US dollar and further decline towards the levels of 1.2112 and 1.2039. The […]
Analysis of transactions and trading tips on GBP/USD Further decline became limited because the test of 1.2157 coincided with the sharp downward movement of the MACD line from zero. The decrease in UK average earnings led to a sell-off of pound, which may intensify today after the release of strong US statistics. Any increase in […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0552 earlier in the day took place when the MACD line moved upward from zero, prompting a signal to buy. However, no strong price increase occurred, resulting in losses. Fairly good data from the ZEW for Germany and the eurozone helped euro return to […]
Although market tensions somewhat eased, investors, in the face of uncertainty, continue to look for new trading opportunities. The upcoming corporate earnings season in the US appears to be positive, and this could lead to a local rally in the markets, with consideration of the Middle East crisis. Signals from Fed members indicating the necessity […]
The GBP/USD currency pair also recovered to the moving average line on Monday but could not surpass it. Movements in both major currency pairs have been identical in recent weeks, so everything mentioned in the article about EUR/USD is also applicable to the GBP/USD pair. Therefore, the key question for the British currency today is […]
Potential for the breakout mode on 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 the […]
The EUR/USD currency pair recovered to the moving average line on Monday, and now the key question is whether it will breach it once more, which would open the way for further corrections for the euro. We have repeatedly mentioned that we advocate the continuation of the correction, as we believe that a move of […]
Details of the Economic Calendar on October 16 Monday, as usual, was accompanied by an empty macroeconomic calendar. Important statistical data releases in the European Union, the United Kingdom, and the United States did not take place. Analysis of Trading Charts from October 16 The EUR/USD currency pair once again reduced the volume of short […]
Technical analysis: BTC/USD has been trading upside and the price reached upside objective at $28.800 but I found strong reversal and weak close yesterday, which is a sign of the weakness. Key resistance at the price of $28.600 is on the test and we had weak close yesterday, which is a sign of the indecision […]
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 1.2175 as a possible entry point. A rise and a false breakout at this mark produced a sell signal, sending the pair down by more than 39 pips. In the afternoon, […]
Technical analysis: Gold has been trading sideways at the price of $1.918 and I found symmetrical triangle pattern in creation, which is a good sign for potential breakout mode in the next period. In case of the breakout of resistance at $1.922, I see potential for the further rally towards upside reference at $.932 In […]
