In my morning forecast, I drew attention to the level of 1.0559 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The rise and the formation of a false breakout at 1.0559 led to an excellent entry point for short positions, resulting in […]
Green line- support trend line Blue lines- bearish channel After breaking below the green upward sloping support trend line at $0.5150, XRPUSD has changed short-term trend to bearish and has started making lower lows and lower highs inside the blue downward sloping channel. Short-term resistance by the blue channel is found at $0.4920. Price is […]
Let’s take a look at the technical picture of AUD/USD, NZD/USD and USD/CAD. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forex forecast 04/23/2024: EUR/USD, GBP/USD, Oil, SP500 and… April 23, 2024 We introduce you to the daily updated section of Forex…Hot forecast for EUR//USD on April 23, 2024 April 23, 2024 […]
Red lines- bearish channel GBPUSD is trading around 1.2172. Yesterday price got rejected at the upper channel boundary resistance at 1.2330 area. Price remains inside the red downward sloping channel. Price is under pressure and as long as we trade inside the channel, GBPUSD is vulnerable to more downside. GBPUSD resistance is at yesterday’s highs […]
Red lines- bearish channel Blue lines- Short-term support trend lines EURUSD is trading around 1.0530. Price remains inside the red downward sloping channel. Price got rejected at the upper channel boundary. Bulls could not break the resistance at 1.0635. The rejection lead to a decline that first pushed price below the first blue support trend […]
NZD/USD is trading in a bearish market zone: medium-term—below resistance levels at 0.6140 (50 EMA on the weekly chart), 0.6110 (200 EMA on the daily chart), long-term—below resistance levels at 0.6400, 0.6485 (200 EMA on the weekly chart and 50% Fibonacci level in the downward wave from 0.7465 in February 2021 to the level of […]
Red lines- bearish channel Blue lines -Fibonacci retracement levels Gold price is trading around $1,912. Gold price has bounced towards $1,900 and the upper channel boundary, as expected by our previous analysis. Gold price has now reached important channel resistance while breaking above the 61.8% Fibonacci retracement level. Gold price has easily broken above the […]
Gold paused its rise Thursday as economic data from America revealed that inflation is higher than expected. Based on this data, the Federal Reserve signaled that it will maintain its restrictive monetary policy until inflation returns to its target level of 2%. Consequently, the Federal Reserve will not be in a hurry to lower interest […]
Analysis of transactions and trading tips on GBP/USD The test of 1.2190, coinciding with the decline of the MACD line from zero, prompted a sell signal that led to a price decrease of around 20 pips. Pressure eased after the pair updated the daily low. The latest US inflation data lies ahead, and a growth […]
Analysis of transactions and trading tips on EUR/USD The test of 1.0539 earlier in the day took place when the MACD line moved downward from zero, prompting a sell signal that led to a price decrease of around 20 pips. The latest US inflation data lies ahead, and a growth in prices will likely exert […]
Following the results of two inflation releases, the dollar once again made its presence known. Interestingly, traders of dollar pairs completely disregarded the report on the Producer Price Index, all components of which entered the “green zone.” However, they strongly reacted to the rather contradictory Consumer Price Index. Despite the conflicting signals, traders interpreted the […]
On Thursday, the EUR/USD pair rebounded from the level of 1.0637, marking a reversal in favor of the US dollar and a sharp decline below the corrective level of 161.8% (1.0561). The sustained quotes below this level allow us to anticipate further decline towards the next level at 1.0489. A close above 1.0561 today would […]
On the hourly chart, the GBP/USD pair reversed its course near the level of 1.2336 (former 1.2342), favoring the US currency, settling below the ascending trend corridor and the corrective level of 161.8% (1.2250). The decline concluded around the level of 1.2175, where a bounce occurred. However, there was no significant rally, and this morning, […]
The GBP/USD currency pair also sharply and unexpectedly plummeted on Thursday. As we’ve mentioned before, the cause lies in American inflation. More precisely, the cause is the market itself. It’s unclear why the market suddenly started buying dollars based on a report that, by all parameters, fits the definition of “neutral.” However, we’ll discuss this […]
The EUR/USD currency pair sharply plummeted on Thursday. This move was, of course, solely triggered by the U.S. inflation report, which we will discuss shortly. However, it should be noted that, in essence, there were no reasons or grounds for the market to react so strongly to this. Nonetheless, we witnessed a significant drop in […]
Potential for the further rally on the Crude Oil… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for April 11, 2024 April 11, 2024 Potential for the further rally on USD/JPYThe material has been…Overview of the EUR/USD pair. April 11th. The market… April 11, 2024 The EUR/USD currency pair […]
Technical analysis: BTC/USD has been trading sideways at the price of $26.800 but I see potential for the further downside movement towards the lower reference. Due to the breakout of the descending triangle pattern to the downside, I see potential for the further drop towards lower reference. Downside objective is set at the price of […]
Details of the Economic Calendar on October 12 Inflation in the USA remained at 3.7% in September, which is higher than the consensus forecast of 3.6%. Recall that the Federal Reserve closely monitors data on the pace of consumer price growth in the country, which is one of the important factors in making decisions regarding […]
Technical analysis: GBP/USD has been trading downside in the background and I found breakout of the rising trend line and change of the short term trend from upside to the downside. Due to the breakout of the rising trend-line and strong momentum in the background, I see potential for the further drop towards lower references. […]
Technical analysis: Gold has been trading upside as I expected and the price has reached the first upside objective at $1.883 but I see potential for the further growth. Due to the strong upside momentum and the bullish trend in the background, I see potential for the further growth towards next upside reference. Upside objective […]
EUR/USD Higher Timeframes The lack of effectiveness in dealing with the resistance of the daily Ichimoku cross (1.0609 – 1.0647) led to the formation of a rebound. After closing the previous day under the daily short-term trend (1.0527), the bears returned the situation to the weekly cloud. Today marks the end of the workweek. The […]
Crypto Industry News: ARK Invest and 21Shares have filed revised Bitcoin ETF spot fund applications. Observers hope that this time all the SEC’s fears and doubts will be dispelled. Market analysts are optimistic about this move and see it as a good sign. The amended filing was filed with the U.S. Securities and Exchange Commission […]
Crypto Industry News: On Tuesday’s edition of CNBC’s Squawk Box, Paul Tudor Jones warned of a possible stock market crash in the United States. He believes that the progressive and aggressive tightening of monetary policy by the Federal Reserve will lead the American economy into recession. During the show, Paul Tudor Jones also admitted that […]
Technical Market Outlook: The GBP/USD pair has completed the pull-back at the level of 1.2336 and reversed lower. Moreover, the price fell out of the corrective channel and made a new local low at the level of 1.2170. The intraday technical support is located at the level of 1.2260 and the intraday technical resistance is […]
Technical Market Outlook: The EUR/USD pair has broken back below the 50 and 100 MA level, so the corrective cycle might have been completed. The nearest technical support is seen at the level of 1.0520 and the nearest technical resistance is located at the level of 1.0582. The next target for bulls is the swing […]
Although the condition of Ethereum Cryptocurrency still weaken on its 4 hour chart, where it is seen by all the Ichimoku indicator condition gives the sign that this cryptocurrency is on the downside condition. But, with the appearance of the Descending Wedge pattern gives the clue for the appearance of turning point potential for the […]
If we look on the 4 hour chart of Ripple Cryptocurrency there is still inside the weakness condition where it is confirmed by the price movement which is under the Death Cross Kumo, Tenkan Sen and Kijun Sen, as well as the Chikou Span which position below the price movement and automatically under the Kumo. […]
Early in the European session, the Japanese Yen (USD/JPY) is trading around 149.70, above the 21 SMA, and approaching 8/8 Murray, which coincides with the psychological level of 150.00. This zone could act as a strong resistance so that USD/JPY could face a strong rejection. Hence, a technical correction could occur from that point. Yesterday […]
Technical outlook: EUR/USD reversed from the 1.0620-30 zone seen around the trend line resistance on Thursday in line with our projection. Prices are very close to the potential support around the 1.0300-10 area which is also the Fibonacci 0.618 retracement of the recent rally between 1.0450 and 1.0630. The single currency pair is seen to […]
Litecoin is testing support in the 60.00 – 61.78 area which ideally should act as a floor for the next impulsive rally towards 131.05 and above. That said, we need to see a break above resistance at 64.70 to confirm that wave 2 has been completed and wave 3 higher is in motion. Under no […]
