Looking at how the euro has been falling persistently and hopelessly, one can’t help but be surprised by what’s happening. No matter how strong the trend may be, it doesn’t go without correction. However, EUR/USD has been moving down for 12 consecutive weeks, and even the slightest attempts by the “bulls” to counterattack are swiftly […]
Early in the American session, gold was trading at around 1,824, below the 21 SMA, and above the 2/8 Murray. The strong bearish pressure on gold pushed the price down to a low of 1,815.21. From this level, we observe a technical rebound. However, if gold consolidates above 1,825 in the next few hours, it […]
The decision on the monetary policy of the Reserve Bank of New Zealand (RBNZ) will be published on Wednesday (at 01:00 GMT). It is widely expected that the leaders of the New Zealand central bank will refrain from making changes to the parameters of the current credit and monetary policy, and the interest rate will […]
In my morning forecast, I drew attention to the level of 1.0481 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The breakthrough and subsequent test of 1.0481 led to a buy signal for the euro in anticipation of an upward correction, but […]
As expected by the market, following today’s monetary policy meeting, the leaders of the Reserve Bank of Australia (RBA) decided not to make any changes to the parameters of the current credit and monetary policy, leaving the interest rate at 4.1%. However, they did not rule out the possibility of future rate hikes, stating, “some […]
Red lines -bullish channel blue lines- Fibonacci retracement levels NASDAQ is trading around 14,755.. The index remains under pressure after exiting the bullish channel it was in. Price has stopped at the 23.6% Fibonacci retracement. The index briefly made a new lower low yesterday at 14,428, but the index closed above the recent low. Recent […]
Blue lines- Fibonacci retracement levels Red lines- bearish channel Gold price is trading around $1,827. under pressure for a second day. Price has broken below the 50% Fibonacci retracement level. Next key support is at $1,792 where we find the 61.8% Fibonacci retracement level. Gold remains inside the weekly bearish channel. Gold price could continue […]
Blue lines- Fibonacci retracement levels Red lines- bearish channel Yellow rectangle- expected bottom area EURUSD is trading around 1.0473. Price is making new lower lows . Despite the short-term bounce towards 1.0617, bulls remain weak as price falls to new lows. Trend remains clearly bearish in all time frames as this is the 12th week […]
Red lines- bearish channel Green lines- bullish RSI divergence GBPUSD is trading around 1,2074. Short-term trend remains bearish as price continues making lower lows and lower highs. Price bounced briefly towards 1.2270, but bulls remain weak and price made a new lower low. The RSI however did not follow. The RSI formed a higher low. […]
US stock index futures continued to fall, nearing yesterday’s lows, as the risk of further interest rate hikes by the Federal Reserve faded. S&P 500 futures were down 0.3%, while the tech-heavy NASDAQ dropped by about 0.5%. Treasuries also resumed their declines as investors grew increasingly concerned about historically high borrowing costs. The yield on […]
EUR/USD Higher Timeframes Sellers didn’t hesitate for long; they completely nullified all of the opponent’s achievements yesterday, updating the previous week’s low. The daily close below significant supports (1.0500 – 1.0542) shifted attention to the monthly boundary at 1.0447. If bears find this insufficient, the next target is currently at 1.0295 (the lower boundary of […]
Analysis of transactions and trading tips on GBP/USD The test of 1.2070, coinciding with the drop of the MACD line from zero, prompted a sell signal that led to a price decrease of around 17 pips. Ahead lies the latest data on job openings and labor turnover from the US Bureau of Labor Statistics, as […]
Analysis of transactions and trading tips on EUR/USD No price tests occurred in the morning. Ahead lies the latest data on job openings and labor turnover from the US Bureau of Labor Statistics, as well as a speech by FOMC member Raphael Bostic. If Bostic takes a similar position as his colleagues, talking about raising […]
The euro-dollar pair is once again testing the 4th figure, reflecting the strengthening of the American currency. The U.S. Dollar Index has approached the boundaries of the 107th figure, the highest value since November 2022. All major currency pairs of the ‘major group’ have adjusted their configurations accordingly. Hawkish comments from Federal Reserve representatives and […]
The GBP/USD currency pair resumed its downward movement sharply and significantly on Monday. As we have mentioned in previous articles, the most logical phrase would be “resumed upward movement,” but the correction turned out to be very weak, although the breakout of the moving average did occur. However, this breakout only confused traders. Many were […]
The EUR/USD currency pair resumed its downward movement during Monday and surpassed the last local minimum, which was around the Murray level “2/8” (1.0498). Thus, the decline of the European currency (which we expected and predicted) resumed much faster than one could imagine. We anticipated a much stronger corrective movement, but the market decided otherwise […]
The British pound remains on the defensive near a multi-month low reached during the Asian session, dropping to the level last seen on March 16 of the current year. Following the unexpected decision of the Bank of England to pause its tightening cycle and keep the interest rate unchanged, the British pound (GBP) continues to […]
Let’s take a look at the technical picture of AUD/USD, USD/CHF and Crude Oil. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forecast for EUR/USD on April 11, 2024 April 11, 2024 EUR/USDThe market’s nervousness ahead of the European Central Bank meeting,…Forecast for GBP/USD on April 11, 2024 April 11, 2024 GBP/USDYesterday, […]
Details of the Economic Calendar on October 2 The unemployment rate in the European Union has decreased from 6.5% to 6.4%. However, the European currency continued to depreciate, as the actual data turned out to be below expectations—the previous indicator was revised upward from 6.4% to 6.5%. Analysis of Trading Charts from October 2 The […]
Technical analysis: BTC/USD has been trading sideways at the price of $27.600 but there is the breakout of the triangle pattern in the background to the upside. Due to the breakout of the triangle pattern in the background, I see potential for the further rally towards $30.000 RSI oscillator is showing reading above 60, which […]
The rally of the U.S. dollar and higher yields on U.S. bonds have proven to be too strong for the gold market. Precious metal prices may continue to decline as the U.S. Central Bank is expected to maintain its current monetary policy in the near future. The sell-off in gold occurred against the backdrop of […]
Technical analysis: Gold has been trading downside as I expected in the background but this morning I found weak rally, which is sign for the potential downside continuation. Due to the strong downside trend in the background and negative reversal on the RSI oscillator, I see potential for the further downside movement towards lower reference. […]
Technical analysis: USD/JPY has been trading downside this morning but I see potential for the further rally towards next major upside reference point. Due to the strong upside trend in the background and that positive reversal on the RSI oscillator, I see potential for the further growth towards next upside reference. Upisde objective is set […]
Yesterday GBP/USD generated several signals to enter the market. Let’s look at the 5-minute chart and try to figure out what actually happened. In my morning forecast, I paid attention to the level of 1.2193 and recommended making decisions on entering the market from there. A return and a bottom-up test of this area after […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move downward from the level of 1.0476 (closing of yesterday’s daily candle) to test 1.0435, the lower border of the Bollinger Band indicator (black dotted line). Upon testing this level, an upward movement is possible with a target of 1.0515, the 5-period EMA (red thin line). […]
Trend analysis (Fig. 1). The GBP/USD currency pair may move downward from the level of 1.2083 (closing of yesterday’s daily candle) to test 1.2015, the historical support level (blue dotted line). Upon testing this level, an upward movement is possible to the lower fractal at 1.2109 (red dotted line). Fig. 1 (daily chart). Comprehensive analysis: […]
Formally, the eurozone labor market showed improvement as the unemployment rate was 6.4% in August 2023, down from 6.5% in July 2023. However, in reality, the data was slightly worse than expected, as unemployment was expected to rise from 6.4% to 6.5%. So, in general, unemployment remained unchanged, but the situation was slightly worse than […]
Analysis of transactions and tips for trading GBP/USD The test of 1.2146, coinciding with the decline of the MACD line from zero, prompted a sell signal that led to a price decrease of over 30 pips. Meanwhile, buying on the rebound from 1.2115 resulted in a rise of around 20 pips. Weak data in the […]
Analysis of transactions and tips for trading EUR/USD Further decline became limited because the test of 1.0533 coincided with the sharp drop of the MACD line from zero. Weak business activity data in the eurozone’s manufacturing sector halted EUR/USD growth yesterday morning. Then, the pair continued to decline throughout the day due to similar reports […]
With the unemployment rate decreasing from 6.5% to 6.4%, labor market in the eurozone showed some improvement. However, in reality, the data remains slightly worse than forecasts, as analysts expected unemployment to rise from 6.4% to 6.5%. This resulted to dollar continuing to rise, which dragged euro and pound down. Other markets, such as the […]
