Technical analysis: USD/JPY has been trading sideways at the price of 149.50 and there is potential for the breakout play. In case of the breakout of the resistance level 149.65 and hold above, I see potential for the further rally towards 149.90 and 150.20 In case of the downside breakout of the support level at […]
Details of the Economic Calendar on October 13 The acceleration of the decline in industrial production in the EU, from -2.2% to -5.1% (versus expectations of -3.2%), led to the weakening of the European currency. Analysis of Trading Charts from October 13 The EUR/USD currency pair reached the 1.0500 support level during an intense downward […]
Last Friday, 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 1.2224 as a possible entry point. A rise and a false breakout at this mark produced a sell signal, sending the pair down to the support level at 1.2172, making […]
Last Friday, 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 1.0559 as a possible entry point. A rise and a false breakout at this mark formed a sell signal, sending the price down by more than 40 […]
Let’s take a look at the technical picture of EUR/USD, GBP/USD, Bitcoin and Ethereum. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Trading Signals for ETH/USD (Ethereum) for April 12-15,… April 12, 2024 ETH/USD is trading around 3,478, having a technical correction as…Weekly Forex Outlook: 12/04/2024 – More inflation data on… April […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move upward from the level of 1.2139 (closing of Friday’s daily candle) to 1.2215, the 23.6% pullback level (red dotted line). From this level, the price may continue to move up. Fig. 1 (daily chart). Comprehensive analysis: Indicator analysis – up; Fibonacci levels – up; Volumes […]
Trend analysis This week, GBP/USD may move upwards from the level of 1.2138 (closing price of the last weekly candle) to the 23.6% retracement level of 1.2353 (red dashed line). Upon reaching this price, the pair will rise further to the 38.2% retracement level of 1.2504 (red dashed line). Fig. 1 (weekly chart) Comprehensive analysis: […]
Trend analysis EUR/USD may move upward this week, starting from the level of 1.0507 (closing price of the last weekly candle) to the 14.6% retracement level of 1.0602 (red dashed line). After reaching this price, the pair will climb further towards the 23.6% retracement level of 1.0673 (red dashed line). Fig. 1 (weekly chart) Comprehensive […]
The fact that the eurozone industrial production contracted more than expected, from -2.2% to -5.1%, exerted significant downward pressure on the euro. This was exacerbated by the fact that the consensus estimate was a fall to -3.2%. However, this only reinforced the dollar’s overbought condition, so by the end of trading, the pair rebounded. This […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move upward from the level of 1.0507 (closing of Friday’s daily candle) to 1.0568, the 14.6% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target at the 1.0598 resistance level (red thick line). Fig. […]
Even though on the 4-hour chart the EUR/GBP cross currency pair is being corrected upwards, it is actually still moving in a downtrend, which can be seen from the appearance of the Bearish 123 pattern followed by the Bearish Ross Hook (RH) which coincidentally is also confirmed by the appearance of hidden deviations. between its […]
If we look at the 4-hour chart, the AUD/USD commodity currency pair appears to be forming a Double Bottom pattern, but the Stochastic Oscillator indicator makes a deviation, so based on this, in the near future, as long as there is no weakening that passes below the 0.6289 level, AUD/USD has the potential to rally […]
Analysis of transactions and tips for trading USD/JPY The test of 149.65, coinciding with the downward movement of the MACD line from zero, prompted a sell signal that led to a price increase of around 20 pips. The decline from the psychological level of 150 and the intervention of the Bank of Japan hampered dollar […]
Analysis of transactions and tips for trading GBP/USD The test of 1.2188, coinciding with the rise of the MACD line from zero, prompted a signal to buy. However, a strong price increase did not occur, resulting in losses. As for the test of 1.2156, it took place when the MACD line lay in the oversold […]
Analysis of transactions and tips for trading EUR/USD The test of 1.0532 took place when the MACD line from zero had not yet exited the negative area, making it inadvisable to enter long positions. By mid-day, another price test occurred, but this time at 1.0514. It coincided with the moment when the MACD fell considerably […]
EUR/USD Higher Timeframes Towards the end of last week, the initiative shifted towards the bearish players. As a result, instead of confirming a rebound from the weekly cloud formed earlier, the week closed within the cloud. Nevertheless, the pair remains in the zone of daily and weekly correction, which requires updating the low (1.0449) and […]
EUR/USD Last Friday, the euro found support below the target level of 1.0552 on the daily chart. The support level at 1.0483 and the price channel line at 1.0464, which is just below it, are close by. However, the Marlin oscillator, which is moving upward into the bullish territory, brings an opportunity for the price […]
GBP/USD Friday’s black candle for the British pound closed below the price channel line. However, there’s no such confirmation below the zero line for the Marlin oscillator, which is trying to return to the bullish territory. It’s possible that the oscillator’s move into the bullish territory and a breakthrough of Friday’s opening level at 1.2172, […]
AUD/USD On Friday, the Australian dollar tested the support within the 0.6295-0.6388 range, this is where the pair has been trading since October 3rd. This morning, the price hinted at a reversal from the lower band of this range, with assistance from the Marlin oscillator by turning upward. We can confirm this reversal once the […]
Crypto Industry News: The popular MetaMask cryptocurrency wallet was removed from the App Store for several hours. The inability to download the application to the Cupertino company’s devices turned out to be only a temporary problem. Nevertheless, theories quickly began to spread on social media as to why explaining the lack of MetaMask on the […]
Crypto Industry News: Bloomberg analysts Eric Balchunas and James Seyffart revised their percentage chances of Bitcoin ETF approval by the U.S. Securities and Exchange Commission (SEC) in January 2024. This change is the result of an ongoing and constructive dialogue between the market regulator and Ark and 21Shares, two significant industry players awaiting consideration of […]
Technical Market Outlook: The GBP/USD pair has been seen moving lower towards the technical support seen at 1.2105. The intraday technical support is located at the level of 1.2121 and the intraday technical resistance located at 1.2165 is being tested now. Please notice, that the mid-term outlook remains bearish due to the Bearish Cross of […]
EUR below the trend line support Technical Market Outlook: The EUR/USD pair has broken below the trend line support and below the 50 and 100 MA level, so the down trend might be resumed. The nearest technical support is seen at the level of 1.0496 and the nearest technical resistance is located at the level […]
Crude oil is close to completing wave B of a Zig-zag correction. Ideally, wave B will complete near 88.05, but we could see a small extension closer to resistance at 88.80 before wave C takes over for a decline towards 79.34. Once the corrective decline from 95.03 is complete, a new impulsive rally should take […]
If the decline from 1.0640 was a correction, then we should see EUR/USD rally above minor resistance at 1.0559 soon and likely above resistance at 1.0600 without problems too. That said we do see a clear risk for minor resistance at 1.0559, rejecting any attempt to break above for a final dip to test support […]
GBP/USD shows bearish momentum below a descending trend line, indicating a potential bearish continuation. The 1st support at 1.2064, coinciding with the 127.20% Fibonacci Extension, may act as a strong support. The 2nd support at 1.1841, a multi-swing low support, reinforces this. On the resistance side, the 1st resistance at 1.2297, near the 23.60% Fibonacci […]
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 began the second week of October on a high note but ended in decline. The armed conflict in the Middle East and the extensive statements by Federal Reserve officials, indicating that the market is doing the central bank’s job, contributed to a drop in the yields of U.S. Treasury bonds. This allowed the […]
