Red lines-bullish channel Blue lines- bearish RSI divergence Oil price is under pressure for a third session in a row. Price is now trading below $90 and as expected is approaching the lower channel boundary. Technically trend remains bullish as price is still inside the upward sloping channel. Last week we warned bulls that the […]
EURUSD has started the week under pressure. In Ichimoku cloud terms price remains in a bearish trend in the Daily chart. Price remains below the Daily Kumo (cloud). Last week price bounced higher as expected only to find strong resistance at the tenkan-sen (red line indicator) at 1.0612. Price is getting rejected at this resistance […]
Trend analysis: Further decline may be seen in EUR/USD in October, starting from the level of 1.0574 (closing of the September monthly candle) to the lower fractal at 1.0488 (red dashed line). It will be followed by a rise to the 23.6% retracement level of 1.0673 (red dashed line) and towards the 38.2% retracement level […]
Trend analysis GBP/USD may continue to move downwards from the level of 1.2195 (closing of the last weekly candle) to the support line at 1.2056 (thick red line). Upon reaching this price, the pair will bounce back and test the historical resistance level of 1.2115 (blue dashed line). Fig. 1 (weekly chart) Comprehensive analysis: Indicator […]
In my morning forecast, I drew attention to the level of 1.2193 and recommended making entry decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The return and test from below this range after the release of rather weak data from the UK led to a selling […]
Trend analysis EUR/USD may continue to move downward this week, starting from the level of 1.0570 (closing of the last weekly candle) to the support line at 1.0504 (thick white line). After reaching this price, the pair will turn around and climb towards the 14.6% retracement level of 1.0788 (red dashed line). Fig. 1 (weekly […]
In my morning forecast, I drew attention to the level of 1.0585 and recommended making entry 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 led to a selling point for the euro, resulting in a drop of […]
Green line- resistance trend line Blue line- horizontal support Bitcoin is trading around $28,450. Bitcoin has broken today above the green resistance trend line. Price recently tested the horizontal support at $24,750 and price is now bouncing higher. Price has started making higher highs and higher lows in the near term. Respecting the blue horizontal […]
Red lines – trading range Blue lines- Fibonacci retracement levels Eurostoxx60 is trading around 4,150. Two weeks ago the index broke out and below the trading range it was in for 5 months. Price broke below the key support at 4,200 and has provided us with a bearish signal. Price last week bounced towards $4,200 […]
Blue lines -Fibonacci retracement levels Red lines- bearish channel Gold price is trading around $1,834. Gold remains in a short-term bearish trend making lower lows and lower highs. Price has broken below the 50% Fibonacci retracement and the RSI is in oversold territory and new lows in the Daily chart. Bears remain in full control […]
Green lines- wedge pattern Blue line- bearish RSI divergence USDJPY is trading around 149.83 making new higher highs. Trend remains bullish as price continues trading inside the green wedge pattern with higher lows and higher highs. This week starts on a positive note after challenging last week the lower wedge pattern boundary. As we said […]
US stock index futures extended Friday’s sell-off and are trading well in the red as the risk of further interest rate hikes by the Federal Reserve faded. Futures on the S&P 500 were down 0.3%, while the tech-heavy NASDAQ declined by about 0.5%. The bond market also suffered a large sell-off, with the 10-year Treasury […]
Despite the correction observed at the end of last week, AUD/USD remains in a bearish zone, short-term—below resistance levels of 0.6420 (200 EMA on the 1-hour chart), 0.6454 (200 EMA on the 4-hour chart), medium-term—below resistance levels of 0.6595 (144 EMA on the daily chart), 0.6640 (200 EMA on the daily chart), and long-term—below key […]
Tomorrow, October 3rd, the Reserve Bank of Australia (RBA) will announce the outcomes of its October meeting, the first meeting under the leadership of Michele Bullock. As known, her predecessor, Philip Lowe, stepped down at the end of September, handing over the reins to his deputy. However, the October meeting is interesting not only for […]
EUR/USD Higher Timeframes Bearish players took a pause after achieving the 100% daily target for breaking through the Ichimoku cloud at 1.0500. It’s worth noting that the target coincides with the testing of the psychological level at 1.0500 and the upper boundary of the weekly Ichimoku cloud at 1.0542. As a result, this led to […]
Let’s take a look at the technical picture of GBP/USD, USD/JPY, EUR/USD and Bitcoin The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly forecast based on simplified wave analysis for… April 15, 2024 GBP/USDAnalysis:On a large scale, a bearish trend has been forming…Weekly forecast based on simplified wave analysis of… April 15, […]
Analysis of transactions and trading tips on GBP/USD Further decline became limited because the test of 1.2173 coincided with the sharp drop of the MACD line from zero. The recently released data on manufacturing activity in the UK kept pound afloat, so chances of an upward correction still exist. Today, much depends on the upcoming […]
At the start of the new trading week, the dollar/yen pair showed a surprising burst of strength and came close to the level of 150, the achievement of which could trigger a Japanese intervention. What caused such a situation, and what results may it have? Why may the US dollar skyrocket? Early on Monday, the […]
Analysis of transactions and trading tips on EUR/USD Further decline became limited because the test of 1.0560 coincided with the sharp drop of the MACD line from zero. The recently released data for the eurozone returned pressure on euro, albeit not as strong as expected. Today, speeches from Fed members lie ahead, and they will […]
Potential for the further downside movement on the Silver… 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 […]
On Friday, the EUR/USD pair managed to close above the corrective level of 161.8% (1.0561) and rose towards the level of 1.0637. However, in the second half of the day, there was a reversal in favor of the US dollar, and the pair returned to the 1.0561 level. A rebound from this level on Monday […]
On the hourly chart, the GBP/USD pair reversed course around the corrective level of 161.8% (1.2250) in favor of the US dollar on Friday, falling to the level of 1.2175. This is a new level; I added it today. A sustained break below this level will favor further declines towards the 1.2112 level. A rebound […]
Gold experienced a sharp sell-off last week, which began after the Federal Reserve left interest rates unchanged and confirmed that rates would remain high longer than anticipated. The latest weekly gold survey shows most analysts are optimistic, while retail investors have split more evenly after seven consecutive sessions of losses. Everett Millman, Chief Market Analyst […]
Details of the Economic Calendar on September 29 Inflation in the EU has slowed down even more than the most optimistic forecasts, decreasing from 5.2% to 4.3%. Analysts had expected a slowdown to 4.7%. Considering the new data, we should no longer expect an increase in the refinancing rate of the European Central Bank. At […]
Another revision of GDP by as much as 2 percentage points showed that the UK economy was 1.8% larger by the end of the second quarter than before the pandemic. Britain is no longer lagging and has surpassed Germany. Its growth rates are comparable to France and only slightly lag behind Italy. This is good […]
Technical analysis: BTC/USD has been trading upside, I found breakout of the triangle pattern in the background, which is good sign for the further rally. Due to the breakout of the triangle pattern and the rising lows, I see potential for the further growth towards next upside references. Upside objectives are set at the price […]
GBP/USD Brief Analysis: The major of the British pound has been pushing the pair’s quotes down on the price chart since mid-July. The price has reached the upper boundary of a potentially reversal zone. Last week, a corrective phase began to form on the chart, which has not yet been completed. Weekly Forecast: At the […]
Technical analysis: Gold has been trading downside as I expected and I see potetnial for the further drop towards next downside reference. Due to the strong downside cycle and no signs for the reversal, I see potential for the further drop towards lower reference. Downside objective is set at the price of $1.808 RSI oscillator […]
Technical analysis: GBP/USD has been trading downside as I expected and I see potetnial for the further drop towards next downside reference. Due to the strong downside cycle and negative reversal on RSI, I see potetnial for the further drop towards lower reference. Downside objective is set at the price of 1.2110 RSI oscillator is […]
EUR/USD Analysis: Quotes of the European currency continue to move in a descending trend. Currently, the price is trading within a range between intermediate support and strong resistance, which was breached downward two weeks ago. Since September 27th, an upward corrective zigzag has been forming. Its structure was not completed at the time of analysis. […]
