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 […]
The USD/JPY chart currently exhibits bearish momentum due to its position below the Ichimoku cloud. There’s a potential bearish scenario with the 1st support at 148.44, a pullback support, and the 2nd support at 147.26, an overlap support. On the resistance side, the 1st resistance at 149.98, a swing high resistance, may limit upward movements. […]
Analysis of macroeconomic reports: There are few macroeconomic events on Thursday, and it will be challenging to find anything even moderately significant among them. The UK Construction PMI and the weekly report on US unemployment claims will be released. One out of every 10 such reports deviates significantly from the forecast, but such occurrences are […]
The NZD/USD pair updated a four-week price low on Wednesday, reacting to the results of the Reserve Bank of New Zealand’s October meeting. Although the bulls regained some lost ground (thanks to a correction in the greenback) during the European session, the bearish bias remains intact. This is due not only to the kiwi’s weakness […]
Markets were shaken with the release of the JOLTS report, as job openings in the U.S. rebounded to 9.61 million in August from 8.92 million in July, against forecasts of a decline to 8.8 million. Prior to this, a gradual decline in job openings had been observed in 6 out of the last 7 months, […]
Analysis of Wednesday trades: GBP/USD 30M chart In the aftermath of the week’s third trading day, the GBP/USD pair also displayed notably chaotic movements, particularly on the 5-minute time frame (TF). On the 30-minute TF, the pair initiated a new wave of upward correction, potentially presenting a more convincing and robust demeanor than its predecessor. […]
Analysis of Wednesday trades: EUR/USD 30M chart The EUR/USD currency pair demonstrated notably erratic movements throughout Wednesday, navigating through a sea of macroeconomic data. It would be impractical to isolate specific reports to elucidate the pair’s intraday movements. For instance, at least four reports, albeit of secondary nature, were published in the European Union before […]
Overview : The GBP/USD pair continues to move downwards from the level of 1.2216. According to the previous events, the GBP/USD pair is still moving between the levels of 1.2216 and 1.2122. On the one-hour chart, immediate support level is seen at 1.2153, which coincides with a ratio of 00% Fibonacci retracement – last bearish […]
History repeats itself, and sometimes it rhymes. While the yield on U.S. Treasury bonds is at 16-year highs, the 26th anniversary of Black Monday is approaching. On October 19, 1987, the Dow Jones Index plummeted by more than 22%, marking its worst performance in history. Interestingly, there are many similarities between those events and today’s […]
Another day has passed in the currency market, and the European currency is ending it in far from the best mood. If you look at it this way, the euro has not had a good mood for two months, if not longer. I can’t say that the decline of the European currency during this period […]
The wave analysis for the pound/dollar pair remains quite simple and understandable. The construction of a new downward trend segment, its first wave, continues, and it is significantly prolonged in time. In my opinion, the British pound has no reason to resume its uptrend, so I don’t even consider the scenario of a new upward […]
The wave structure of the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we have seen only three-wave structures that constantly alternate with each other. Over the past few months, I have regularly mentioned that I expect the pair to reach around the 1.5 level, from which the construction of […]
Early in the American session, EUR/USD is trading around 1.0477, above the 21 SMA, and above 2/8 Murray. During the European session, we can see that the euro made a sharp break above the 21 SMA around 1.0470. Since it is now trading above this level, it technically favors a recovery for the pair in […]
Red lines – bearish channel Black lines- bearish channel short-term Blue lines- Fibonacci retracement levels Gold price is still in a bearish short-term trend. Price is trading around $1,817 making lower lows and lower highs. The decline from $1,946 is very close to completion. A bounce higher is expected. Downside potential is limited. Price is […]
Red lines- bearish channel Yellow rectangle – expected bottom area Green lines- bullish divergence Blue lines- Fibonacci retracement levels EURUSD is bouncing today. Price is trading around 1.0491 after making a low yesterday at 1.0449. It is too soon to call a bottom. Technically trend remains bearish as price continues making lower lows and lower […]
Red lines- bullish channel blue lines- bearish divergence Oil price is under pressure again today. Price is trading around $86.70 as it moves closer to the lower channel boundary. In a previous analysis when price was trading above $91, we warned traders that a pull back was imminent and justified. Despite still trading inside the […]
Black line- horizontal resistance Green line- support trend line Red line- major resistance trend line XRPUSD is trading around $0.53. Price has started forming higher highs and higher lows in the near term. There a short-term bullish momentum push XRPUSD higher. Support is found at $0.50 and resistance at $0.55-$0.56. XRPUSD is expected to test […]
In my morning forecast, I emphasized the level of 1.0485 and recommended using it as a reference point for market entry decisions. Let’s examine the 5-minute chart and analyze what happened there. The rise and formation of a false breakout at this level generated a sell signal for the euro, but there was no downward […]
EUR/USD Higher Timeframes The attraction and influence of the monthly support (1.0447) turn out to be so significant that no other targets could deter traders from their desire to test this level. A break below 1.0447 will open the path to the lower boundary of the weekly cloud (1.0295). In turn, the formation and execution […]
Analysis of transactions and trading tips on GBP/USD The test of 1.20758, coinciding with the drop of the MACD line from zero, prompted a sell signal that led to a price decrease of around 10 pips. Pressure eased after due to the fairly good activity data in the UK services sector. Ahead lies the business […]
Analysis of transactions and trading tips on EUR/USD The first test of 1.0457 occurred when the MACD line moved downward from zero, prompting a sell signal. However, no price decrease happened in the pair. As for the second test, it took place when the MACD line went into oversold area, which, together with reasonably good […]
China acted as a dam in the path of gold’s decline. However, at the turn of September and October, this dam collapsed. Neither massive purchases of the precious metal by the People’s Bank of China nor the highest demand for physical gold within the country could hold back the “bears” on XAU/USD for long. The […]
