In my morning forecast, I pointed out the level of 1.2175 and recommended making entry 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 1.2175 allowed for a good entry point for the continuation of the pair’s […]
In my morning forecast, I highlighted the level of 1.0535 and recommended making entry decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The drop and the formation of a false breakout at this level led to a buy signal for the euro, but there was no […]
While the UK economy teeters on the brink of recession and stagflation, the futures market is indicating an 80% probability of another repo rate hike to 5.75%. However, neither Bloomberg experts nor the Bank of England believe this scenario. The pound continues to move under the influence of external factors. Sterling has become one of […]
EUR/USD Higher Timeframes The past week ended with a rejection from the weekly cloud, but with the opening of trading for the new workweek, a downward gap was filled, letting the pair again to trade within the weekly cloud. The nearest downward reference points remain unchanged today: 1.0534 – 1.0500 – 1.0447 (daily short-term trend […]
Green line- wedge pattern Blue line- bearish RSI divergence USDJPY is trading around 149. Price has broken out of the wedge pattern and as we mentioned in a previous post, this is the time for a pull back. USDJPY has provided a sign of weakness by breaking the wedge pattern to the downside and combined […]
Red lines- medium-term bearish channel Black lines- short-term bearish channel Gold price is trading around $1,850. Last Friday Gold price finally broke out of the short-term black downward sloping channel it was in. Last Friday Gold chart provided a short-term reversal signal. In our previous posts we mentioned many times that it was about time […]
Red lines- bearish channel Yellow rectangle- expected bottom area EURUSD is trading around 1.0540 under pressure today. After three positive trading sessions and a bounce from 1.0449 to 1.06, EURUSD starts the week under pressure. EURUSD remains inside the red downward sloping channel. Resistance is found at 1.0630. Bulls need to recapture this price level […]
Blue line- support trend line Bitcoin has started the week under pressure. Bitcoin price is in negative territory at $27,420. Bitcoin is trading above the blue upward sloping support trend line. There are still increased chances that Bitcoin price continues to make higher highs and higher lows. Support by the blue trend line is found […]
The past week saw Bitcoin and the cryptocurrency market under a bullish banner. The main digital asset managed to recover above the $27.5k level, and the cryptocurrency market capitalization grew to $1.1 trillion. Market sentiments also began to shift in a positive direction, and macroeconomic data gave reasons to doubt further tightening of the Federal […]
The GBP/USD pair rose last week. However, this can largely be attributed to the weakening of the dollar rather than the strengthening of the pound. At the beginning of the new week, GBP/USD is declining again, and as of writing, it is testing the important short-term support level of 1.2180 (200 EMA on the 1-hour […]
Analysis of transactions and trading tips on GBP/USD Further decline became limited because the test of 1.2174 coincided with the sharp drop of the MACD line from zero. In the afternoon, pound may rise due to the empty macroeconomic calendar. The soft tone of Fed officials could contribute to the strengthening of the pair. However, […]
Analysis of transactions and trading tips on EUR/USD Further decline became limited because the test of 1.0532 earlier in the day coincided with the sharp drop of the MACD line from zero. In the afternoon, the empty macroeconomic calendar will favor those who expect the pair to trade in a sideways channel, so do not […]
Safe-haven currencies, the U.S. dollar and the Japanese yen, rose on Monday as violence in the Middle East rattled the markets. The Israeli shekel fell by more than 3% early in the Asian session, almost reaching an eight-year low. The Bank of Israel announced that it would sell foreign currency worth up to $30 billion […]
GBP/USD Brief Analysis: In mid-July, a trend change occurred on the chart of the major British pound sterling. A bearish wave in reverse replaced the uptrend. After contacting the upper boundary of a strong support zone, an ascending corrective wave zigzag formation began. After its complete completion, the price decline will continue. Week Forecast: In […]
EUR/USD Analysis: On the chart of the European currency, the downward trend continues to dominate. The price has reached the boundaries of a powerful potential reversal zone on a large scale. Since the end of September, quotes have been forming a corrective zigzag that does not exceed the corrective level. The structure of this wave […]
Since September 20th, when the Federal Reserve left interest rates unchanged, and following the U.S. employment report that led to a drop in the spot price to a new 7-month low of $1,810.46, gold closed in the positive territory for the first time in two weeks on Friday. According to the latest weekly gold survey, […]
On the hourly chart, the GBP/USD pair experienced a decline to the level of 1.2112, bounced from it, and resumed its upward movement towards the Fibonacci level of 161.8%–1.2250. A rebound from this corrective level led to a reversal in favor of the US dollar and the start of a new decline towards the level […]
The GBP/USD currency pair also continued its upward correction on Friday and, in general, showed almost identical movements to the EUR/USD pair. There is nothing surprising about this, as all the macroeconomic statistics on Friday came from across the ocean, which means they had the same impact on both currency pairs. From this, it follows […]
The EUR/USD currency pair continued its overall upward correction on Friday, which had started several days earlier. We have been discussing all of last week that we expected a new, stronger wave of correction as the euro was falling too sharply and too quickly. However, Friday was not just an ordinary day favorable for technical […]
Let’s take a look at the technical picture of EUR/USD, GBP/USD, USD/JPY, USD/CAD and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forex forecast 04/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin… April 9, 2024 We introduce you to the daily updated section of Forex…Forecast for EUR/USD on April 9, 2024 April 9, […]
Potential for the further rally on the USD/JPY The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for April 09, 2024 April 9, 2024 Potential for the breakout on USD/JPYThe material has been provided…Market Comment – Gold shines bright, yen knocks on… April 9, 2024 Gold prices remain near record […]
On Friday, the EUR/USD pair bounced off the Fibonacci retracement level of 161.8% at 1.0561 and fell to 1.0489. Then, it rebounded from this level and resumed its rise, moving above the retracement level of 1.0561. On Monday, the pair closed below 1.0561, suggesting a further decline towards 1.0489. Yet, all these maneuvers on Friday […]
Details of the Economic Calendar on October 6 The report from the United States Department of Labor exceeded expectations, revising job creation estimates upwards. Instead of the projected 150,000 jobs, a total of 336,000 jobs were created, and previous data were also revised upwards from 187,000 to 227,000. As a result of this updated report, […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move downward from the level of 1.0585 (closing of Friday’s daily candlestick) to 1.0519, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.0611, the 21-period EMA (black thin line). Fig. 1 […]
Analysis of transactions and tips for trading USD/JPY The test of 149.04, coinciding with the rise of the MACD line from zero, prompted a buy signal that led to a price increase of nearly 50 pips. The US unemployment rate report played in favor of dollar, as the change in the number of non-farm payroll […]
If there were questions about the relatively low unemployment rate in the United States, despite the very small number of jobs being created, the content of Friday’s report from the Department of Labor has already addressed them. Firstly, the previous data was revised upward from 187,000 to 227,000. Secondly, instead of 150,000, a whopping 336,000 […]
Analysis of transactions and tips for trading GBP/USD The test of 1.2174, coinciding with the downward movement of the MACD line from zero, prompted a sell signal that led to a decline towards 1.2112. Data on the UK house price index went unnoticed by the market, unlike the labor market report from the US, which […]
Analysis of transactions and tips for trading EUR/USD The test of 1.0532, coinciding with the drop of the MACD line from zero, prompted a sell signal that led to a price decrease of around 40 pips. Data on Germany’s industrial orders, Italy’s trade balance, and France’s retail trade volume went unnoticed by the market, unlike […]
Seller yang If we look at the daily chart of the Gold commodity asset, it can be seen that sellers are dominating this commodity asset, which is reflected in the price movement which moves below the Moving Average, but in the candles a few days before, a Bullish Engulfing candle pattern was formed, at the […]
If we look at the weekly chart of this exotic currency pair USD/IDR, it is clear that the USD seems to still have the opportunity to continue its strengthening against the Garuda currency which is still moving above the WMA (300) with the condition of the Tenkan Sen intersecting the Golden Cross above the Kinjun […]
