On Tuesday, the AUD/USD pair reached its highest level in a month at 0.6807 following the release of US economic data. However, it later retreated, reducing its daily gains. The Australian dollar struggled to stay above 0.6800. Although the upward trend remains intact after rising in eight of the last nine trading days, it appears that some consolidation or...
Gold is currently experiencing a period of consolidation, trading within a specific range. However, it faced a notable rejection near the $1,970 price level, coinciding with the 61.8% Fibonacci retracement level. This Fibonacci level is a significant technical indicator that traders often monitor for potential reversals or strong resistance. During this...
The EUR/USD faced downward pressure, remaining below the 1.0800 level. However, it experienced a notable upswing on Thursday, delivering its strongest performance in weeks, primarily driven by a weakened US Dollar. The Greenback faltered across the board as softer employment data from the US emerged ahead of the upcoming FOMC meeting next week. This favorable...
The AUD/USD pair remains in a downward trend as the price continues to rise. Although the AUD/USD climbed to its highest level in almost four weeks, surpassing 0.6700, it later dropped to 0.6650 due to the stronger US dollar overpowering the initial boost from the hawkish Reserve Bank of Australia. The pair's upward momentum stalled after a four-day consecutive...
Unexpectedly, jobless claims in the United States have experienced a sharp increase, reaching the highest level since October 2021. This development has had a negative impact on the US Dollar, causing it to weaken across the board. The DXY, a measure of the dollar's strength against a basket of other major currencies, has dropped below 103.50 as a result. EUR/USD...
The EUR/USD currency pair continues to be confined within a prevailing Bearish channel, indicating a downward trend. Although there has been an increase in trading volume over the past two days, the main trend remains downward. Within the channel, a Shark pattern has been identified, suggesting a potential reversal in the near future. Additionally, the current...
Gold remains within a bearish channel, and the price is expected to continue dropping after a rebound at the 61.8% Fibonacci level. Our target for the price is around $1928.000. The fundamental analysis of gold indicates that it attempted a recovery after reaching near $1,940.00. It has extended its rebound to around $1,950.00, mainly due to a sharp drop in the US...
This is trade idea for EURUSD Day Trade -Buy around FVG according to the confirmation that will occur. -Possible bullish price movement towards the resistance. -Risk Reward 1:3
This is trade idea for GBPUSD Day Trade -Buy around FVG or Orderblock (OTE-Optimum Trade Entry) according to the confirmation that will occur. -Possible bullish price movement towards the resistance. -Risk Reward 1:2
The AUD/USD is currently experiencing bullish momentum, and we are looking to capitalize on the next upward movement using a trend-following setup. However, in terms of fundamental analysis, the AUD/USD pair is facing difficulties in sustaining its current rally above 0.6680. This rally was initially sparked by the unexpected announcement of an interest rate hike...
The Australian AiG Construction Index for May registered a reading of -6.6, showing a slight improvement compared to the April figure of -12.4. Additionally, the AiG Manufacturing Index came in at -5.1, while the AiG Industry Index recorded -10.9. Comparatively, in April, the AiG Manufacturing Index was reported at -20.2, and the AiG Industry Index at...
The price has been steadily increasing, showcasing a strong bullish momentum. Yesterday, the price underwent a retest of the 50% Fibonacci area, bringing us closer to our target at 175.100. This level coincides with the D Leg extension of the ABCD pattern. As we analyze the chart, we are anticipating a continuation of the bullish trend.
EUR/USD slipped below the 1.0700 level during the early European morning, driven down by a strengthening US Dollar and a lackluster risk sentiment. The pair faced additional pressure from mixed German Industrial Production data. Market focus now turns to ECB-related announcements. Yesterday, the price broke the dynamic trendline of the bullish channel,...
Nifty future and banknifty future analysis and intraday plan in kannada. This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post. please consult your financial advisor before taking any action. ----Vinaykumar hiremath, CMT
Having shown bullish intent, EU is headed downwards to collect more long orders and close losing shorts before hitting buy-side liquidity at the 1.07800 level. Trading idea only, use your own judgement before risking money.
Yesterday, the GBP/USD currency pair experienced a pullback at the 50% Fibonacci level, marking the beginning of a new bearish trend. As the downtrend unfolds, the next potential target for the GBP lies around the support area of 1.23400. On the fundamental front, the GBP/USD pair encountered renewed bearish pressure during the European morning, causing it to...
In terms of technical analysis, yesterday the USD/JPY experienced a strong bearish impulse after reaching the 140.400 value. This indicates a downward price change and suggests a bearish setup. On the fundamental side, the US Dollar (USD) has been recovering from a one-week low since the release of the Non-Farm Payrolls (NFP) data. This recovery is seen as a...
This is trade idea for GBPJPY Day Trade -Buy around FVG or Orderblock according to the confirmation that will occur. -Possible bullish price movement towards the resistance. -Risk Reward 1:2