The EUR/USD pair crashed in the short term and now is located at 1.0547 at the time of writing. The downside pressure is strong as the Dollar Index rallied. Technically, the bias remains bearish despite the last rebound, so more declines are natural. Fundamentally, the USD dominates the currency market as the US reported higher […]
The price of gold is trading in the red at 1,872 at the time of writing and it seems determined to hit new lows as the USD dominates the currency market after the US inflation publication. You knew from yesterday’s analysis that the volatility could be huge today around the US data dump. As you […]
The wave analysis of the pound/dollar pair remains relatively straightforward and clear. The construction of a new downward trend is ongoing, with its first wave being significantly prolonged. In my view, the British currency has no grounds to resume an upward trend, so I don’t even consider such a scenario. Remember, there are no specific […]
The wave analysis of the 4-hour chart for the euro/dollar pair remains clear. Over the past year, we’ve witnessed three wave structures constantly alternating with each other. Over the past months, I’ve been regularly stating my expectation that the pair would approach the 1.5 figure, which marked the beginning of the last upward three-wave structure. […]
A rebound from the Senkou Span B line on the 24-hour timeframe caused Bitcoin to start a new decline on the 4-hour timeframe. Now, we should expect a drop back to the range of $24,350–$25,211, where the fate of the leading cryptocurrency for the next few weeks will be decided once again. The first rebound […]
In my morning forecast, I drew attention to the level of 1.2304 and recommended making decisions based on it for market entry. Let’s take a look at the 5-minute chart and analyze what happened there. The breakout and subsequent retest of 1.2304 signaled a selling opportunity, but significant downward movement for the currency pair has […]
In my morning forecast, I drew attention to the level of 1.0623 and recommended using it to make market entry decisions. Let’s take a look at the 5-minute chart and analyze what happened there. The drop and formation of a false breakout at 1.0623 provided a point of entry for long positions, but the pair […]
The GBP/USD pair started to decline at the beginning of today’s European session after strengthening during the Asian trading session. The driver of the pound’s weakening and the GBP/USD fall was the release of macroeconomic data from the UK at 06:00 (GMT), which came in weaker than expected. GBP/USD had risen at the end of […]
The market has ignored the rise in U.S. producer inflation and the hawkish stance of the Fed officials regarding the prospects of monetary policy. As indicated by the data published on Wednesday, the annual Producer Price Index (PPI) of American producers accelerated in September from 2.0% (revised from 1.6% in August) to 2.2% (against a […]
Even though the final IMF data hasn’t been released, the initial results of gold purchases by central banks showed that buyer activity did not decrease in September, says Krishan Gopaul, senior analyst at the World Gold Council. Last month, China remained the largest buyer, maintaining its record pace of purchasing precious metals. The country’s gold […]
The GBP/USD currency pair reacted weakly to today’s report on the growth of the British economy. The release was contradictory, but the GBP/USD pair literally stood still—both sellers and buyers are in a state of standstill. Such passivity and caution may be related to the anticipation of another report on U.S. inflation. Yesterday, the Producer […]
Analysis of transactions and trading tips on GBP/USD The test of 1.2310, coinciding with the decline of the MACD line from zero, prompted a sell signal that led to a price decrease of around 15 pips. The latest US inflation data lies ahead, and a growth in prices will lead to a rise in dollar, […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0627 earlier in the day took place when the MACD line moved downward from zero, prompting a signal to sell. However, traders decided not to rush ahead of important data, so a large decline did not occur. The latest US inflation data lies ahead, […]
Green line – support trend line (broken) Black line- horizontal support Red line- major resistance trend line XRPUSD is trading around $0.47. This is the sixth straight day that price is negative territory. XRPUSD is still under pressure after break below the green support trend line. Price as expected is approaching the horizontal support area […]
Yellow rectangles- short-term horizontal support Green line- potential bottoming formation USDJPY is trading around 149 for the last 8 days. Price has broken out of the wedge pattern it was in, the RSI provided bearish divergence signals, but price action remains supported. USDJPY has formed so far two higher lows and as the RSI drifts […]
Red lines- bearish channel Blue lines- Fibonacci retracement levels Gold price is trading above $1,880 and continues making higher highs and higher lows in the near term. Price remains inside the medium-term downward sloping red channel. Price as expected by our previous posts, is bouncing higher towards the upper channel boundary around $1,900 Thus far […]
Red lines- medium-term trend channel Blue lines- support trend lines EURUSD is trading around 1.0619. Price has reached the upper channel boundary resistance at 1.0635 and is showing rejection signs. Price continues forming higher highs and higher lows in the near term. Medium-term trend remains bearish as price is still inside the red downward sloping […]
If we look on the 4 hour chart of Nasdaq 100 there is the appearance of bullish 123 pattern followed by Bullish Ross Hook (RH) as well as supported by CCI indicator which manages to break above its main three levels, then the probability of #NDX for rally upward is quite big where the level […]
With deviations between price movements and the MACD Histogram indicator on the 4-hour chart of the main currency pair USD/JPY and followed by confirmation of the appearance of the Bullish 123 pattern which was followed by the appearance of the Bullish Ross Hook (RH) and price movements above the WMA (30) which has a slope […]
On the hourly chart, the GBP/USD pair continued its upward movement on Wednesday towards the level of 1.2342 after closing above the Fibonacci level of 161.8% at 1.2250. A rebound of the pair’s rate from the level of 1.2342 will work in favor of the US dollar and lead to some decline towards the lower […]
On Wednesday, the GBP/USD currency pair continued its upward correction movement, which was once more unaffected by macroeconomic or fundamental factors. Two linear regression channels show that the pair is still in a downward trend. However, the more critical signal was the triple entry of the CCI indicator into oversold territory, after which the upward […]
The currency pair EUR/USD continued its upward correction movement on Wednesday. The movement is weak but stable. In principle, we start our articles with the same words every day because nothing fundamentally changes in the market. We have repeatedly mentioned that we expect the continuation of the upward correction regardless of the macroeconomic and fundamental […]
Let’s take a look at the technical picture of GBP/USD, USD, Bitcoin and Oil. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forecast for EUR/USD on April 16, 2024 April 16, 2024 EUR/USDYesterday, the US retail sales data fueled the dollar’s strength.…Forecast for GBP/USD on April 16, 2024 April 16, 2024 GBP/USDYesterday, […]
On Wednesday, the EUR/USD pair advanced to 1.0637, bounced off it with a further decline, and then rebounded back to this level. The movement took place within the ascending trend channel, meaning that the bullish sentiment is still in place. A new pullback from 1.0637 will favor the US dollar and will most likely result […]
Upside potential 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 the end of […]
EUR/USD Higher Timeframes Bullish players’ activity is currently reduced; nevertheless, they manage to update daily highs, contending with the resistance of the daily Ichimoku cross (1.0609 – 1.0647). The elimination of the daily cross will open the way to the resistance of higher timeframes at 1.0705 – 1.0722 (monthly medium-term trend + weekly short-term trend). […]
Details of the Economic Calendar on October 11 The Producer Price Index (PPI) in the United States exceeded expectations and reached 0.5% on a monthly basis and 2.2% on an annual basis. This price increase in September indicates an increase in inflationary pressure on the American economy, which could lead to higher inflation. The publication […]
Technical analysis: BTC/USD has been trading downside as I expected and the downside breakout of descending triangle is progressing well. I still see further downside movement towards the downside objectives. Due to the breakout of the descending triangle pattern in the background and the downside momentum, I see potential for the further drop towards downside […]
Technical analysis: EUR/USD has been trading sideways at the price of 1.0620 and I found rising wedge pattern in creation and potential for the breakout mode. In case of the downside breakout of the support at 1.0580, there is the chance for the further drop towards downside reference at 1.0485 IN case of the upside […]
Technical analysis: Gold has been trading upside today and the price has reached first upside objective at $1.877 but I see potential for the further upside movement towards second objective. Due to the bullish short-term trend and the momentum to the upside, I see potential for the further rally towards next upside reference. Upside objective […]
