On Friday, the EUR/USD pair bounced off the Fibonacci retracement level of 161.8% at 1.0561 and fell to 1.0489. Then, it rebounded from this level and resumed its rise, moving above the retracement level of 1.0561. On Monday, the pair closed below 1.0561, suggesting a further decline towards 1.0489. Yet, all these maneuvers on Friday […]
Details of the Economic Calendar on October 6 The report from the United States Department of Labor exceeded expectations, revising job creation estimates upwards. Instead of the projected 150,000 jobs, a total of 336,000 jobs were created, and previous data were also revised upwards from 187,000 to 227,000. As a result of this updated report, […]
Trend analysis (Fig. 1). The EUR/USD currency pair may move downward from the level of 1.0585 (closing of Friday’s daily candlestick) to 1.0519, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.0611, the 21-period EMA (black thin line). Fig. 1 […]
Analysis of transactions and tips for trading USD/JPY The test of 149.04, coinciding with the rise of the MACD line from zero, prompted a buy signal that led to a price increase of nearly 50 pips. The US unemployment rate report played in favor of dollar, as the change in the number of non-farm payroll […]
If there were questions about the relatively low unemployment rate in the United States, despite the very small number of jobs being created, the content of Friday’s report from the Department of Labor has already addressed them. Firstly, the previous data was revised upward from 187,000 to 227,000. Secondly, instead of 150,000, a whopping 336,000 […]
Analysis of transactions and tips for trading GBP/USD The test of 1.2174, coinciding with the downward movement of the MACD line from zero, prompted a sell signal that led to a decline towards 1.2112. Data on the UK house price index went unnoticed by the market, unlike the labor market report from the US, which […]
Analysis of transactions and tips for trading EUR/USD The test of 1.0532, coinciding with the drop of the MACD line from zero, prompted a sell signal that led to a price decrease of around 40 pips. Data on Germany’s industrial orders, Italy’s trade balance, and France’s retail trade volume went unnoticed by the market, unlike […]
Seller yang If we look at the daily chart of the Gold commodity asset, it can be seen that sellers are dominating this commodity asset, which is reflected in the price movement which moves below the Moving Average, but in the candles a few days before, a Bullish Engulfing candle pattern was formed, at the […]
If we look at the weekly chart of this exotic currency pair USD/IDR, it is clear that the USD seems to still have the opportunity to continue its strengthening against the Garuda currency which is still moving above the WMA (300) with the condition of the Tenkan Sen intersecting the Golden Cross above the Kinjun […]
Technical analysis: BTC/USD has been trading sideways at the price of $27.900 but I see potential for the further rally towards upside references. Due to the breakout of the resistance at $27.200 and successful hold above that level, I see potential for the further upside continuation towards upside references. Upside objective is set at $28.630 […]
Trend analysis GBP/USD may continue to move upwards from the level of 1.2200 (today’s opening of the 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: Indicator […]
Trend analysis EUR/USD may continue to move upward this week, starting from the level of 1.0550 (today’s opening of the weekly candle) to the historical support level of 1.0653 (blue 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) […]
Demand from central banks continues to dominate the gold market. This is also an important factor explaining why, against the backdrop of rising bond yields and the steady strengthening of the U.S. dollar, the precious metal continues to hold long-term support levels. According to the World Gold Council, central banks purchased 77 tons of gold […]
Technical analysis: Gold has been trading upside this morning and I found gap up trough the consolidation high ,which is sign that buyers are in control. Anyway, there is the key resistance zone $1.857-$1.862 which will be critical for the Gold direction. In case of the breakout of the resistance at $1.860 and hold above, […]
Technical outlook: EUR/USD seems to have finally bottomed around 1.0450 last week. The single currency pair initially rallied through the 1.0540-50 range, followed by a sharp corrective decline to 1.0480 last Friday. The bulls were quick to regain control and managed to push prices through 1.0595 before beginning to pull back. EUR/USD has now carved […]
The US Treasury Yield continues to push higher and should see more upside pressure towards the next resistance near 5.24% in the months ahead. Yes, the rally is getting extended but the best part of the rally from 0.54% is clearly behind us. Once the extreme of wave 5 is in place, it will be […]
EUR/USD has broken minor resistance at 1.0494 indicating that wave 2 has been completed and wave 3 is ready to take over. That said, we still need a break above resistance at 1.0617 to confirm that wave 2 indeed has completed and wave 3 is in motion for a rally towards 1.2085 and possibly higher. […]
EUR/USD Friday’s US labor data for September exceeded expectations. In the non-farm sector, 336,000 new jobs were created compared to a forecast of 170,000, and the August figure was raised by 40,000. Unemployment remained at the previous 3.8%, and a broader measure of unemployment dropped to 7.0% from 7.1% in August. The initial market reaction […]
GBP/USD On the daily chart, Friday’s candle opened and closed above the green price channel line, indicating a daily close above this line. We expect the pair to surpass the target level of 1.2307, and the price will continue to rise toward the 1.2444 target, where the price channel line is located near the target […]
USD/JPY Ignoring the short-term price dip caused by the Bank of Japan’s intervention, the yen is consolidating within the range of 148.50 to 150.00. The persistent downward movement of the Marlin oscillator since the second half of August indicates that the price practically doesn’t have a chance to break above the consolidation. Although, for purely […]
The upcoming trading week will be crucial for traders of dollar pairs. By its end, the US dollar will either resume its ascent or weaken further. To recap, last week, the EUR/USD pair tried to settle within the 1.04 level, but failed. The closing price practically coincided with the opening price (1.0586; 1.0570). The US […]
Analysis of macroeconomic reports: There are no economic events scheduled for Monday. We will only highlight Germany’s report on industrial production, which is considered a relatively minor event. Therefore, Monday is likely to be a rather uneventful day. We believe that it was illogical for both pairs to rise on Friday, so we expect a […]
Analyzing Friday’s trades: GBP/USD on 30M chart GBPUSD continued to correct higher on Friday, although the chances of falling was much higher after the release of US data. The reason for this is that at least two very important reports were released. Of course, their significance is not as high as it was half a […]
Analyzing Friday’s trades: EUR/USD on 30M chart EUR/USD was in recovery mode on Friday, marking a new phase that started earlier in the week. The pair tried to start a corrective phase the week before last, which didn’t go well. As a result, we expected the pair to start a new leg of the correction. […]
The EUR/USD pair concluded the trading week at 1.0586, falling just short of the 1.06 level by a mere dozen pips. The closing price almost matches the opening price at 1.0570, despite the week’s low being recorded at 1.0449 (with a high of 1.0601). In general, the pair completed a full circle, essentially returning to […]
Can we say that the Nonfarm Payrolls data was on the US dollar’s side? Judging by the initial market reaction, it seemed so. Despite some flaws, the data provided support to the dollar bulls at the moment. The US Dollar Index surged to 106.63, and the EUR/USD pair returned to the range of the 1.04 […]
By the end of June, the buyers struggled to break above 1.0930, which was a crucial hurdle, and only managed to reach 1.1200 briefly before the bears took over. Shortly after, the EUR/USD pair has been trading in a narrow range between 1.0600 and 1.1000, waiting for a clear direction from the market sentiment and […]
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 […]
Early in the American session, gold (XAU/USD) was trading around 1,816.34. A few minutes ago, the data from the United States about employment in the private sector was published. This caused a fall to a new monthly low for now around 1,810.40. The government Non-Farm Payrolls (NFPs) report for September exceeded expectations and reached the […]
