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 […]
Technical analysis: EUR/USD has been trading sideways at the price of 1.0550 and I see potential for the rejection or the breakout of the key resistance at 1.0560. In case of the breakout of resistance at 1.0560, I see potential for the further rally towards upside references at 1.0585 and 1.0610 In case of the […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move downward from the level of 1.2210 (closing of yesterday’s daily candle) to test 1.2152, the 14.6% pullback level (red dotted line). Upon testing this level, an upward movement is possible to the 1.2285 resistance level (red thick line). Fig. 1 (daily chart). Comprehensive analysis: Indicator […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move downward from the level of 1.0559 (closing of yesterday’s daily candle) to test 1.0519, the historical support level (blue dotted line). Upon testing this level, an upward movement is possible to the 1.0584 resistance level (red bold line). From here, the price may continue to […]
Analysis of transactions and tips for trading USD/JPY The test of 149.62, coinciding with the upward movement of the MACD line from zero, prompted a buy signal that led to a price increase of around 15 pips. Buyers seem to be hesitant to act around the 150 level, so expecting a strong surge in dollar […]
Yesterday, the dollar continued to lose ground for almost the entire day. It lost as much as it did on Friday. And what’s interesting is that the pound gained more than the euro. All of this happened when the economic calendar was basically empty. So we can confirm that what we are seeing now is […]
Analysis of transactions and tips for trading GBP/USD Further growth became limited because the first test of 1.2176 coincided with the sharp rise of the MACD line from zero. As for its second test, it occurred when the MACD line went into the overbought area, providing a signal to sell. This resulted in a price […]
EUR/USD Higher Timeframes The support of the daily target (1.0500) continues to exert its attraction and influence, so daily sentiments changed direction once again yesterday. Overall, the situation remains unchanged. The conclusions and expectations voiced earlier still hold relevance. For the bullish players, it’s important to eliminate the daily Ichimoku cross (1.0571 – 1.0609 – […]
Crypto Industry News: Ferrari accepts cryptocurrency payments for its luxury sports cars in the United States. The carmaker also plans to accept cryptocurrency payments in Europe. Enrico Galliera, Ferrari’s chief marketing and commercial officer, confirmed the luxury car brand’s intentions. Ferrari’s choice to accept cryptocurrency payments was driven by market demand and dealer requests. Many […]
Crypto Industry News: Yesterday, fake news appeared on the Internet claiming that the application for the BlackRock group’s Bitcoin ETF had been approved by the US Securities and Exchange Commission (SEC), which caused a real shockwave in the crypto sector. In just a few minutes, the disinformation triggered a cascade of events that led to […]
Technical Market Outlook: The GBP/USD pair has bounced from the level of 1.2121 and moved towards the 100 MA seen at 1.2198. The intraday technical support is still located at the level of 1.2121 and the intraday technical resistance is located at 1.2224. Please notice, that the mid-term outlook remains bearish due to the Bearish […]
Technical Market Outlook: The EUR/USD pair has been seen testing the 100 MA around the level of 1.0548 and made a new high at the level of 1.0563 before the reversal. The nearest technical support is seen at the level of 1.0496 and the nearest technical resistance is located at the level of 1.0559. The […]
Analysis of GBP/USD 5M GBP/USD also started to trade higher on Monday, which can be considered a corrective phase, as we mentioned on Monday. The pound did not have any strong reasons to back its growth. Throughout the day, no significant reports were published, and only the speech of Bank of England Chief Economist Huw […]
Analysis of EUR/USD 5M EUR/USD started a new corrective phase on Monday. There were no fundamental or macroeconomic reasons for this move. Nevertheless, as we have repeatedly mentioned, we were not satisfied with last week’s corrective phase, as it was too small given that the pair had fallen by 800 pips. Therefore, regardless of whether […]
Litecoin is ready to break above resistance seen at 68.80 and 70.14 for a strong rally higher towards 104.04 and ultimately higher towards 131.05 and above. We see support near 62.10 which ideally will be able to act as a floor for the next push higher through resistance at 68.80. At no point can a […]
EUR/USD needs to rally past resistance at 1.0600 and, more importantly, above resistance at 1.6040 to confirm that wave 3 has taken over for an impulsive rally towards 1.2085 in the weeks/months ahead. That said, a break below support at 1.0482 will shift the focus towards a final dip to test the 1.0436 target before […]
EUR/USD Higher timeframes: The daily target support level (1.0500) continues to exert its appeal and influence, so the sentiment changed direction once again. In general, the situation remains unchanged. The conclusions and expectations that were voiced yesterday are still relevant. For those who are bullish, it is important to eliminate the daily Ichimoku cross (1.0571 […]
The USD/CHF chart currently displays bullish momentum, suggesting a possible bounce from the first support towards the initial resistance. The first support at 0.8998 aligns with a prior swing low and the second support at 0.8934 coincides with the 161.80% Fibonacci Retracement, providing strong support potential. On the resistance side, the first resistance at 0.9085 […]
Analyzing Monday’s trades: EUR/USD on 30M chart EUR/USD started to trade higher on Monday. Take note that volatility was 46 pips on the day, and this was in the absence of influential economic releases. Basically, it was quite a dull day, and movements were absolutely lackluster. It was better not to draw significant conclusions based […]
Both instruments were relatively muted on Monday. The euro and the pound started a new upward movement, presumably as part of the third wave within wave 2 or b. I previously mentioned that wave 2 or b should be a three-wave structure because the first wave was very extended for both instruments. Therefore, the price […]
According to the latest CFTC report, the past week was relatively calm in the futures market. One notable change was the value of the net short yen by position, which corrected by 1.2 billion, while changes in other currencies were minimal. The US dollar’s net positioning, after sharply rising the previous week, saw a 0.3 […]
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 […]
The euro is struggling to hold onto $1.05 like a drowning person grasping for a lifeline. However, grim prospects for the Eurozone’s economy, the divergence in monetary policies between the Federal Reserve and the European Central Bank (ECB), the specter of an energy crisis, and the resurgence of fiscal discipline issues in Italy are creating […]
