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 1.0538 as a possible entry point. A decline and a false breakout at this mark formed a buy signal, sending the pair up by more than 25 pips. […]
The EUR/USD currency pair held above the moving average line during Tuesday’s session. Yesterday, we were wondering what would happen near the moving average, considering the answer to this question very important. As we can see, the consolidation above the moving average has occurred, opening up further correction prospects for the pair. Recall that we […]
As the 2a year cycle showed Natural Gas (NG) bottomed right on cue at 1.94 and has since been headed higher. The instrument is likely to continue higher until at least mid-2024 and could extend its rally towards October 2025. If this is the case, we should expect NG to peak above the 2022 top […]
Crude oil has just completed wave B of a zig-zag correction and wave C lower to test support near 75.63 is now in progress. A break below minor support at 85.38 will be a strong indication that wave C lower is unfolding while a break below support at 82.31 will confirm wave C lower to […]
Crypto Industry News: For many investors and validators on the Ethereum network, the decline in the queue waiting for staking is a signal of weakening demand for the ETH currency. Just a few months ago the situation was completely different. Last summer, potential validators had to wait up to 45 days to start staking their […]
Crypto Industry News: Cryptocurrency investors in Europe are not yet protected by the European Union’s cryptocurrency market regulations, and it will be some time before this protection comes into effect. On October 17, Europe’s securities regulator, the European Securities and Markets Authority (ESMA), issued a statement regarding the transition to European cryptocurrency regulation known as […]
Technical Market Outlook: The GBP/USD pair has bounced from the level of 1.2121 and moved closer towards the 50 MA seen at 1.2198. The market keeps trading inside a narrow zone located between the levels of 1.2121 – 1.2224. The intraday technical support is still located at the level of 1.2121 and the intraday technical […]
Technical Market Outlook: The EUR/USD pair has broken above the 100 MA around the level of 1.0548 and made a local high at the level of 1.0595 before the reversal. The nearest technical support is seen at the level of 1.0562 and the nearest technical resistance is located at the level of 1.0595. The next […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move upward from the level of 1.2179 (closing of yesterday’s daily candle) to the 1.2271 resistance level (red thick line). In the case of testing this level, a downward movement is possible with the target at 1.2215, the 23.6% pullback level (red dotted line). Fig. 1 […]
Technical analysis: BTC/USD has been trading sideways at the price of $28.600 and I found that wedge pattern is in creation. In case of the breakout of the resistance at $29.000 there is the chance for the rally towards the top of the pin-bar at $30.400 In case of the downside breakout of the support […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move upward from the level of 1.0576 (closing of yesterday’s daily candle) to 1.0588, the 21-period EMA (black thin line). Upon reaching this level, a continued upward movement is possible with a target at 1.0643, the 23.6% pullback level (blue dotted line). Fig. 1 (daily chart). […]
Analysis of transactions and tips for trading USD/JPY The test of 149.51, coinciding with the downward movement of the MACD line from zero, prompted a sell signal that led to a price increase of around 15 pips. The Bank of Japan continues to control the currency basket around 150, so expecting a strong surge of […]
Analysis of transactions and tips for trading GBP/USD The first test of 1.2172 coincided with the rise of the MACD line from zero, prompting a signal to buy. However, strong retail sales data in the US prevented the pair from continuing its upward correction. Later on, when sellers realized that the US data actually showed […]
Analysis of transactions and tips for trading EUR/USD The test of 1.0565 took place when the MACD line moved upward from zero, prompting a signal to buy. This resulted in a price increase of around 30 pips, but did not reach the target resistance level. Business sentiment data from the ZEW Institute for Germany and […]
Technical analysis: Gold has been trading upside and I found breakout of the triangle pattern in the background, which is good confirmation for the higher prices. Due to the upside momentum and no signs for the reversal, I see potential for the further growth towards next upside objective. Upside objective is set at the price […]
Despite receiving decent economic reports, the dollar continued to lose ground due to the escalating Palestinian-Israeli conflict. The recent data initially strengthened the US dollar. The forecasts were entirely negative, but retail sales, which were expected to slow from 2.5% to 1.9%, increased from 2.9% to 3.8%. So, the data itself is excellent, and the […]
Technical analysis: GBP/USD has been trading sideways at the price of 1.2200 and I see the triangle pattern is in creation and that there is potential for the breakout or rejection of the resistance. In case of the breakout of the resistance at the price of 1.2220, there is the chance for the upside movement […]
Analysis of GBP/USD 5M Instead of rising, GBP/USD extended losses on Tuesday, as UK data exerted pressure on the pair. Reports on wages, unemployment, and unemployment claims were supposed to be published, but only a report on wages was released. UK wages remained strong, which is in clear contrast to Huw Pill’s words about declining […]
Analysis of EUR/USD 5M EUR/USD traded positively on Tuesday, but the nature of the movements was quite chaotic. The pair changed direction several times throughout the day, which was confusing. However, the constant reversals were justified by the macroeconomic and fundamental background. We mentioned a day ago that all the economic reports aren’t highly important, […]
EUR/USD Higher Timeframes Yesterday, bulls continued to maintain their initiative; however, significant results are still lacking. The center of attraction, at the moment, is the daily short-term trend (1.0562), while other nearby reference points retain their significance and positions. Bullish players still face the daily Ichimoku cross (1.0571 – 1.0609 – 1.0647), reinforced by the […]
The EUR/USD chart currently shows bearish momentum, indicating the potential for a bearish reaction at the 1st resistance level, with a target towards the 1st support level. The 1st support at 1.0493 is significant as it aligns with an overlap support and the 78.60% Fibonacci Retracement level. Additionally, the 2nd support at 1.0450 is identified […]
The USD/JPY chart currently shows bearish momentum, indicating the potential for a bearish reaction at the 1st resistance level, followed by a decline towards the 1st support level. The 1st support at 149.39 is significant as it aligns with an overlap support, while the 2nd support at 148.93 is also an overlap support and coincides […]
The XAU/USD chart currently has a bearish momentum, indicating the potential for a bearish reaction at the 1st resistance level, followed by a drop towards the 1st support level. The 1st support at 1904.44 is significant as it aligns with a pullback support, and the 2nd support at 1885.88 also serves as a pullback support, […]
Recently, the US market has been experiencing unusual fluctuations. Summarizing the last trading day, it’s worth noting that US retail sales in September exceeded all forecasts. However, the profits of the country’s two largest banks diverged: Bank of America’s profit soared, while Goldman Sachs’ decreased. A highlight of the day was the statement from the […]
Hope for the best, but prepare for the worst. In regards to the conflict in Israel, analysts at JPMorgan said there had been no immediate impact on global oil production. A substantial surge in oil prices is not expected unless there is an escalation. However, a broadening of the conflict may lead to disruption in […]
Analysis of macroeconomic reports: There’s a full plate of macroeconomic events slated for Wednesday. The UK is set to release the most critical report of both the day and week: September’s inflation figures. Although the Consumer Price Index (CPI) no longer exerts the same level of influence over the central bank’s monetary policy and, by […]
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 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 […]
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 […]
Analysis of Tuesday’s trades: GBP/USD 1H chart Following the outcomes of the second trading day of the week, GBP/USD demonstrated more of a bearish trend. Although we have been forecasting a resumption of an upward correction for the pound, its macroeconomic backdrop today stood somewhat distinct from that of the euro. While the European currency […]
