Analyzing Wednesday’s trades: GBP/USD on 30M chart After breaking the ascending trendline, GBPUSD retreated further at the end of Wednesday. It has yet to breach the crucial support level at 1.2107, and if it stays above this mark, a new corrective phase may begin. Honestly, we still expect this scenario to unfold, but the pair’s […]
Let’s take a look at the technical picture of USD/JPY, USDX and Gold. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly forecast based on simplified wave analysis of… April 8, 2024 GBP/USDAnalysis:Since July last year, the main direction of price movement…Weekly forecast based on simplified wave analysis of… April 8, 2024 […]
Technical analysis: BTC/USD has been trading sideways at the price of $28.350 but I found testing of the key short-term support at $28.100. There is a chance for rejection or the breakout mode. In case of the rejection of the support, there is potential for the rally towards $29.000-$30.450 In case of the breakout of […]
Potential breakout of the consolidation on the Crude oil The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Stocks slide, dollar soars as rate cut bets… April 16, 2024 Surging US retail sales dampen Fed rate cut expectations Wall…Video market update for April 16, 2024 April 16, 2024 Potential for […]
Technical analysis: EUR/USD has been trading sideways at the price of 1.0540 but I found testing of the key short-term support at 1.0530. There is a chance for rejection or the breakout mode. In case of the rejection of the support, there is potential for the rally towards 1.0585-1.0595. In case of the breakout of […]
The GBP/USD currency pair on Wednesday failed to solidify its position above the moving average line, as we expected. The rebound from the moving average was quite eloquent, but we wouldn’t rush to open the champagne for the resumption of the downward trend. As for the euro, the movement increasingly resembles a flat. In the […]
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 1.2179 as a possible entry point. A decline and false breakout at this mark produced a great buy signal, sending the pair up by almost 30 pips. In the afternoon, defending […]
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 1.0594 as a possible entry point. A rise and a false breakout at this mark formed a sell signal, sending the pair down by more than 30 pips. […]
The EUR/USD currency pair turned downward again during Wednesday and once more crossed the moving average line. Thus, the movements of the past two weeks seem to resemble a simple flat rather than an ascending correction. The market situation has become quite ambiguous. On the one hand, there’s a need for a new phase of […]
Technical analysis Gold has been trading sideways at the price of $1.946 and I see potential exhaustion to the upside and potential for the downside correction. Due to the extension to the upside and testing top of the upside channel, I see potential for the downside rotation towards lower reference. Downside objective is set at […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move upward from the level of 1.2136 (closing of yesterday’s daily candle) to 1.2214, the 23.6% pullback level (red dotted line). In the case of testing this level, a continued upward movement is possible with a target at the 1.2259 resistance level (red thick line). Fig. […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move upward from the level of 1.0535 (closing of yesterday’s daily candle) to 1.0569, the 14.6% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target at 1.0643, the 23.6% pullback level (blue dotted line). […]
The market remained indifferent to U.K. inflation, which remained unchanged at 6.7%. However, the pound eventually retreated. What’s interesting is that this movement started several hours after the release of the U.K. CPI report. Stubborn UK inflation raises the possibility of more tightening for the Bank of England, which should strengthen the pound. Equally intriguing […]
The market remained indifferent to the UK inflation, which remained at 6.7%. However, pound eventually weakened noticeably, even though the stability of inflation at a high level indicates the inevitability of further tightening of the Bank of England’s monetary policy, which should contribute to the strengthening of pound. As for dollar, it rose globally due […]
Analysis of transactions and tips for trading USD/JPY The test of 149.85, coinciding with the upward movement of the MACD line from zero, prompted a signal to buy. However, no strong price increase occurred as traders did not want to enter the market around 150, where the Bank of Japan could intervene at any moment. […]
Analysis of transactions and tips for trading GBP/USD Further decline became limited because the first test of 1.2163 coincided with the sharp rise of the MACD line from zero. Meanwhile, the second test occurred when the MACD line lay in the oversold area, prompting a signal to buy. However, no strong price increase took place, […]
After a few days ago, Nasdaq 100 index hold on to the level area of Bearish Fair Value Gap and failed to break above that level area which act fair enough as level area Resistance, currently #NDX has the potential to weaken again up to the level area 14428,6 – 14254,6 where it is confirmed […]
On the daily chart of Silver commodity asset, it is clearly seen that the price movement still moves under the red color Kumo as well as Chikou Span which is below the price, gives the clue that this commodity asset dominates by the seller, but with the Tenkan Sen which is intersects to golden cross […]
The USD/CHF chart shows bullish momentum, possibly bouncing off the 1st support level at 0.8983 towards the 1st resistance. The 1st support aligns with an overlap support, and the 2nd support at 0.8934 reinforces this potential support. On the resistance side, the 1st resistance is a multi-swing high at 0.9033, with the 2nd resistance being […]
The GBP/USD chart is currently neutral, likely to move between the 1st resistance at 1.2217 and the 1st support at 1.2122. The 1st support is significant, coinciding with a multi-swing low and the 78.60% Fibonacci Retracement level. The 2nd support is at 1.2063, adding another layer of potential price support. On the resistance side, the […]
EUR/USD Yesterday, the euro lacked the courage to initiate consolidation ahead of the strong resistance level at 1.0613. The price retreated from the daily balance indicator line and dropped below the support level at 1.0552. However, the Marlin oscillator managed to stay in the positive territory. Therefore, consolidation to attack the Fibonacci ray at 1.0613 […]
GBP/USD Undoubtedly, the British pound is under significant technical pressure, and it may breach the support level at 1.2070, opening the way to the target level of 1.1900. Yesterday’s trading volume was high. However, the Marlin oscillator is also moving sideways along the trend’s boundary, which could mean that the price may jump. The BW […]
USD/JPY The USD/JPY pair is preparing for a significant reversal. If Fibonacci time zones, as they have been in previous periods since October 2022, prove to be accurate, this reversal will occur in the first week of November, around the 9th Fibonacci line. The Marlin oscillator, which has been steadily falling since the 2nd week […]
The EUR/USD pair is in a narrow range, with boundaries confined to the 5th figure. Mixed fundamental signals have kept traders cautious: both bulls and bears are hesitant to open large positions, preferring to remain in a wait-and-see mode. The market is frozen in anticipation of a significant impetus that could either strengthen the greenback’s […]
Yields rise after strong US retail sales data: the yield on 2-year bonds has reached a 16-year high, and 10-year bonds are near multi-year highs at 4.88%. The Atlanta Fed GDPNow model in the third quarter of 2023 is 5.4%, significantly higher than the previous week’s level. Federal Reserve Chairman Jerome Powell will speak before […]
The surge of EUR/USD in response to strong retail sales and industrial production data appears paradoxical. Especially considering that against this backdrop, the yield on 10-year U.S. Treasury bonds has returned to its highest levels since 2007. According to MUFG, the intriguing deviation of the dollar from previously accepted norms may trigger further sales. Investors […]
Overview : The GBP/USD pair will continue rising from the level of 1.2195 5today. So, the support is found at the level of 1.2153. Since the trend is above the 23.6% Fibonacci level, the market is still in an uptrend. Therefore, the GBP/USD pair is continuing with a bullish trend from the new support of […]
Overview : A trend in 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 double top […]
No matter how chaotic gold’s dynamics may appear, they indeed follow a set of rules. XAU/USD quotes usually decline when Treasury bond yields rise and the USD index strengthens. Precious metals cannot compete with interest-bearing debt instruments and essentially act as an anti-dollar. However, everything was turned upside down in October. Gold broke the rules, […]
The GBP/USD pair has shown signs of bearish rejection just below 1.3200, initiating the recent bearish movement. After bearish closure below the price level of 1.2800 on a H4 candlestick, it continued to fall toward 1.2500 where the depicted uptrend line comes to meet a significant Fibonacci Level. This should be considered for Intraday traders […]
