As of writing, USD/CAD was trading near the level of 1.3770, close to the local high (since the end of March this year) at 1.3784, reached at the beginning of today’s European trading session. Moreover, the pair is developing an upward trend, trading in the medium-term zone above the support level at 1.3425 (200 EMA […]
On the hourly chart, the GBP/USD pair rebounded from the Fibonacci level of 200.0% (1.2039) on Wednesday, favoring the European currency and pushing it up to the level of 1.2175. A bounce from these levels allowed for a slight decline, but a rebound from 1.2112 suggests a return to 1.2175 and the upper boundary of […]
Judging by the yield curve of U.S. Treasury bonds, the U.S. economy is likely approaching a pivotal moment. Long positions are accelerating in growth. Despite continued strong selling pressure on gold, analysts have noted that the precious metal remains relatively stable amid the maximum rise in long-term U.S. bonds. On Wednesday, the yield of 30-year […]
Let’s take a look at the technical picture of EUR/USD, GBP/JPY, USDX and Oil. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forex forecast 04/17/2024: EUR/USD, GBP/USD, Gold, Bitcoin… April 17, 2024 We introduce you to the daily updated section of Forex…Hot forecast for EUR/USD on April 17, 2024 April 17, 2024 […]
The euro-dollar pair is undergoing a correction in anticipation of the most significant macroeconomic release of the week. Tomorrow, October 6, key labor market data will be published in the United States. As known, this report has the potential to trigger increased volatility in dollar pairs, and the EUR/USD pair will not be an exception. […]
Potential for the further drop 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 […]
On Wednesday, the EUR/USD pair reversed in favor of the European currency and consolidated above the level of 1.0489. Thus, the uptrend may continue towards the next Fibonacci level of 161.8% at 1.0561. A bounce from this level will favor the US dollar and prompt a decline towards 1.0489 and below. Closing above 1.0561 will […]
Details of the Economic Calendar on October 4 Eurozone producer prices fell 11.5% in August compared with the same month last year, marking the fourth consecutive month of decline at record rates. Analysts’ forecasts were slightly more optimistic, expecting a decrease of 11.6%. During the American trading session, special attention was given to the ADP […]
Yesterday, the pair formed just one entry signal. Let’s see what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.2055 as a possible entry point. The decline and false breakout at this level produced an excellent buy signal, pushing the price up by more than 70 pips. In the […]
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 1.0485 as a possible entry point. A rise and a false breakout at this mark formed a sell signal but the pair failed to move down. As a […]
Technical analysis: BTC/USD has been trading upside as I expected but there is still potetnial for the further rally towards the upside reference. Due to the breakout of the supply trend-line in the background and lack of selling power, I see potential for the further rally. Upside objective is set at the price of $28.580 […]
Technical analysis: EUR/USD has been trading upside in the background but I found lack for buying power to push above 1.0530, which is a sign for the potential downside movemenet. Due to the rejection of the resistance cluster and strong downside trend in the background, I see potential for the further drop towards lower reference. […]
Technical analysis: Gold has been trading downside this morning and I found rejection of the key resistance cluster at the price of $1.830 in the background, which is good isgn for the further downside movement. Due to the rejection of the resistance cluster and strong downside trend in the background, I see potential for the […]
Analysis of transactions and tips for trading USD/JPY The test of 149.06, 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 on yen returned shortly after. The Bank of Japan’s intervention yesterday had short-term consequences, so it may continue […]
Analysis of transactions and tips for trading GBP/USD The test of 1.2144, coinciding with the rise of the MACD line from zero, prompted a buy signal that led to a price increase of around 30 pips. Service PMI data in the UK helped pound recover from the monthly lows, and weak ADP report kept the […]
Analysis of transactions and tips for trading EUR/USD Further growth became limited because the test of 1.0525 coincided with the sharp rise of the MACD line from zero. Better-than-expected data on the eurozone’s service PMI, PPI, and retail sales led to the rise of euro in the morning. Then, the upward movement continued in the […]
US private payrolls only increased by 89,000 jobs last month, against economists’ expectations of 160,000. And it doesn’t matter that the data turned out worse than expected; what’s more important is that the latest figures were incredibly low for the US labor market. So, it’s not surprising that the dollar was broadly weak on Wednesday. […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move upward from the level of 1.2131 (closing of yesterday’s daily candle) to 1.2214, the 23.6% pullback level (red dotted line). In the case of testing this level, a continued upward movement is possible to the 1.2279 resistance level (red thick line). Fig. 1 (daily chart). […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move upward from the level of 1.0503 (closing of yesterday’s daily candle) to 1.0568, the 14.6% pullback level (blue dotted line). From this level, a continued upward movement is possible with a target of 1.0642, the 23.6% pullback level (blue dotted line). Fig. 1 (daily chart). […]
Dollar unsurprisingly weakened as employment in the US increased by only 89,000, instead of the forecast of 160,000. It started falling right from the opening of the trading session, primarily due to the forecast itself. To maintain labor market stability, employment should grow by more than 200,000 per month. It may grow less, but in […]
The GBP/USD currency pair also started a new phase of correction on Wednesday and retested the moving average line. A bounce from this line may trigger a resumption of the downward trend that has been ongoing for two months. On the other hand, a consolidation above the moving average may signal to traders the long-awaited […]
The EUR/USD currency pair saw the beginning of a new phase of upward correction on Wednesday and ended the day near the moving average line. In principle, we have seen numerous such movements over the past two months as the pair moved south. Some of them ended with consolidation above the moving average, but each […]
Analysis of GBP/USD 5M GBP/USD bounced back on Wednesday, which is quite logical and natural. The British pound has already fallen by 1000 pips in the past two months, so it needs to enter a corrective phase to have the opportunity to continue its downward movement. Thus, even though the pound did not have a […]
Analysis of EUR/USD 5M EURUSD was in recovery mode on Wednesday. A few days ago, the euro corrected higher, but it was quite short-lived, so we assumed there would be another leg of correction. So far, everything is going exactly in that direction. We have also been saying that the macroeconomic background supports the dollar […]
Crypto Industry News: Ross Ulbricht, the cryptocurrency supporter behind the closed online black market Silk Road, ends ten years in prison in October. The round anniversary fuels debates that have been going on for years about digital currencies, freedom on the Internet and proportionality in the practices of the (especially American) justice system. Ulbricht was […]
Crypto Industry News: Cryptocurrency companies serving clients from the UK are trying to adapt to new, strict rules regarding advertising their services. While the new regime temporarily gives cryptocurrency companies the right to authorize their own promotions in the UK, only companies registered with the Financial Conduct Authority as virtual asset service providers receive this […]
Technical Market Outlook: The GBP/USD pair had retraced 61% of the last wave down and hit the level of 1.2176 during the pullback. The key technical resistance is still located at the level of 1.2271 and only a strong and sustained breakout above this level would change the current situation to more bullish. The intraday […]
Technical Market Outlook: The EUR/USD pair had retraced 50% of the last wave down, so the bounce from the yearly low located at the level of 1.0449 hit the level of 1.0534. The intraday technical resistance seen at the level of 1.0489 was broken as well, so the next technical resistance is located at the […]
From the daily chart, it is clear that Nasdaq 100 Index still inside the Bearish condition where this can be seen from the price movement which is moving below the Moving Average and the CCI indicator is still in a Bearish pattern and the presence of a Bearish 123 pattern followed by a bearish Ross […]
If we look at the daily chart of AUD/USD commodity currency pairs, there is the Seller who seems dominates this commodity currency pairs, where this thing confirmed by the price position below the Kumo, Tenkan Sen which below the Kijun Sen (Death Cross) and Chikou Span below the Kumo and below the price. However, with […]
