GBPNZD currently exhibits a bearish structure highlighted by this bearish channel. Currently, the price, after bouncing off the bottom of this channel, is at a crucial point. The latest bullish reaction has led to the formation of a demand zone, ranging from 2.0760 to 2.0940. If the bearish trend maintains its strength, it is possible that the price will decline...
The GBP/USD remains in a defensive position, trading in the negative territory around 1.2650 during the American session on Tuesday. The careful market approach is assisting the USD in maintaining resilience against its competitors following a release of mixed data. This cautious sentiment is putting pressure on the currency pair as it approaches the upcoming Fed...
Fed Reaction In the morning update for February 1, 2024, the focus is on the aftermath of the Federal Reserve's recent policy announcement. Fed Chair Jerome Powell acknowledged recent inflation but emphasized the need for more data before making decisions. The market responded with a 1.6% drop in the S&P 500, the most significant since September, although a...
The GBP/USD currency pair is having difficulty finding a decisive short-term direction and is fluctuating within a well-known trading range. Reduced bets on an imminent interest rate cut by the Bank of England support the British Pound (GBP) and provide some backing to the currency pair. Although the short-term technical outlook has yet to reveal a bearish...
EURJPY broke below 159 in the hours leading up to the FED, and as per the manual, the yen gained strength before the most anticipated event of the month. Now the price is in a reversal zone, specifically around the 62-78 Fibonacci levels, and I anticipate a retracement to the 160 level where a supply zone has just been formed after breaking a crucial swing low....
GBPCAD has started to show upward strength after bouncing at the 1.70 level, where a demand zone is located. The price underwent a significant structural change on the M15 timeframe yesterday, presenting a trading opportunity that could have yielded a 1% profit before the release of Canadian data. Personally, I did not execute that trade. Currently, it appears to...
Preferred direction: SELL Comment: The situation with metals is quite ambiguous, but nevertheless, considering this instrument from a medium-term point of view, most likely the instrument does not intend to grow yet. According to our two short scenarios, we expect a false upward move before the fall. Of course, this is the first more positive scenario for...
Preferred direction : SELL Comment: Just as in the case of the euro, the British pound is also under the target of sales, however, it should be noted that the potential for a fall here is lower than that of the former. We have previously written about selling using this instrument and continue to adhere to this. Today marks the start of a rather busy period...
Preferred direction: SELL Comment: As before, despite everything, we continue to adhere to sales in euros. The main target for the fall is the level of 1.07000 , which is also relevant before the upcoming Fed meeting. Of course, more attention will be focused on the press-conference and what mood the regulator will show. If the scenario with the ECB ...
The FED left rates unchanged as expected and removed language talking about potentially raising rates – also fully expected. The hawkish twist came from a comment on waiting to be more confident about falling inflation. That sent the USD up, risk assets down. Then came Powell with a dovish comment – he signaled the Fed only needs a continuation of data, not...
With the FOMC practically concluded, the market is reacting with a strong sell-off in both crypto and stocks. The FED has announced to keep their interest rate stable for the 4th time in a row, as it wants to see a stronger reduction in inflation before cutting rates. Higher rates for longer, the market doesn't like that. As seen on the chart, BTC is trading in...
Short Meltdown Incoming!!! Entry positioned in London High, which turns out to be NY session Fibonacci point, also alligns with classic Fib retracement Golden zone. Stop loss above daily high. Profit target from 2020s and lower. From my fundamental part of analysis, my take is that Fed won't cut the rates and that press conference as Fed statement might be very...
EUR/USD showed little movement earlier but that changed after German CPI was softer than expected. The euro gained 0.40% in the aftermath of the inflation report but has given back about half of those gains. In the North American session, EUR/USD is trading at 1.0857, up 0.11%. Germany's inflation rate dropped to 2.9% y/y in January, down sharply from 3.7% in...
Gold has shown a reversal in trend, dropping below $2,030 after an initial increase to $2,040. Despite the strength of the US dollar, XAU/USD has maintained positive territory thanks to the decline in US yields and growing tensions in the Middle East. On the daily chart, the pair has modest intraday gains but remains below a 20-period simple moving average (SMA)....
During the day on January 26th, the index of US technology stocks, likely the Nasdaq 100, recorded a negative performance, closing with a moderately negative percentage change of 0.55%. The day started with difficulties, opening at 17,430 points, approximately near the lowest level of the previous day. Despite this, the index showed reasonable resilience...
Today, we are expecting FED interest rate decision and FED press conference. In this video, I share a detailed technical outlook and potential scenarios for Dollar Index. Watch carefully, because it will help you to prepare for the coming news. ❤️Please, support my work with like, thank you!❤️
The AUD/USD exchange rate is declining towards 0.6550 early on Wednesday due to mixed China's PMI data and weaker-than-expected inflation data in Australia. The CPI confirms that the RBA's interest rate hike cycle is over. Attention now turns to the decision of the United States Federal Reserve. Despite an erratic performance on Tuesday, the AUD/USD erases the...
For the past two weeks, the DXY has been trading within a frustratingly narrow range, lacking clear direction. Today's FED press conference may provide some resolution to this stagnant pattern. Leading up to this event, prominent Fed members have cautioned against overly optimistic expectations regarding future rate cuts. They emphasized that the Fed does not...