On the 1 hour chart, we can see more closely the recent price action with some consolidation around the 2026 level as the sellers continue to pile in while the buyers keep on pushing for a breakout. If we do get a selloff from this level, we can expect the buyers to step in again around the 2000 support, while the sellers will want to see the price breaking...
The next AUD/USD news to watch will be the upcoming US initial and continuing jobless claims numbers. Expectations are that initial jobless claims rose to 218/7k last week. These numbers will be followed by the latest existing home sales. Existing home sales are expected to come in at 3.95 million in January.
The other important data will be the flash...
Today, the GBPUSD experienced an upward movement, driven by a wave of dollar selling in response to lower interest rates. However, the pair's momentum encountered resistance at a key technical level—the 200-bar Moving Average (MA) on the 4-hour chart. This same MA had previously halted the pair's advance a week ago, leading to a decline in price. The fact that...
The next important EUR/USD news will be the upcoming Federal Reserve minutes, which will provide more information about what to expect later this year. In its first decision of the year, the Fed maintained the status quo, leaving interest rates unchanged between 5.24 and 5.51
With the US doing better than Europe, economists believe that the ECB will cut rates...
The move lower in the dollar has come on the back of a dip in U.S. Treasury yields in line with its global peers.
That followed lower-than-expected Canadian inflation data and euro zone wage growth -- all of which sent domestic yields falling as it ramped up expectations for rate cuts by global central banks this year.
The Canadian dollar was last marginally...
OANDA:USDJPY USDJPY (H4) Will fall to 148 or increase to 152 ?
The USDJPY market on the H4 timeframe exhibits the following characteristics:
The ongoing contraction phase suggests a period of hesitation and gradual consolidation before significant fluctuations occur.
The peaks depict a pattern of lower-high prices, indicating a potential weakening of...
Intraday bias in USD/CAD remains neutral for the moment, as range trading continues. More consolidations could be seen, but further rally is expected as long as 1.3357 support holds. On the upside, firm break of 1.3585 will resume the rebound from 1.3176 for 1.3897 resistance.In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective...
It's been a rather straightforward rebound since testing the 100-day moving average (red line) for gold. That sees price run up to $2,030 as buyers look to keep the bounce going. The next key level to watch will be the trendline resistance closer to $2,050 currently.
Not much has changed from yesterday but this has been one of the more interesting charts in...
During the European session, the Bundesbank noted that Germany’s economy is likely in a recession, in the Buba Monthly Economic Report. The bank noted there’s “still no recovery for the German economy adding that. “Output could decline again slightly in the first quarter of 2024. With the second consecutive decline in economic output, the German economy would be...
Gbpusd on the 1 hour chart, we can see that we have an important zone around the 1.2581 level where the price reacted from several times. We can expect the buyers to step in again around this zone with a defined risk below it to position for a breakout above the trendline. The sellers, on the other hand, will want to see the price breaking lower to start...
Audusd for quite a while. This is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, we got a pullback into the 0.6541 level but given today’s breakout, we might be in front of a reversal. We can see that the buyers kept on leaning on the red 21 moving average and if we get a pullback we can expect them to lean on it again
USD/JPY is extending the consolidation from 150.87 and intraday bias remains neutral. Downside of retreat should be contained by 148.79 resistance turned support to bring another rally. Above 150.87 will resume the rise from 140.25 to 151.89/93 key resistance zone. Decisive break there will confirm larger up trend resumption of 155.51 projection level next....
The US Dollar I is holding its ground above 104.50 in a very calm start of the week. With US traders not present in the markets, expect very thin volumes to occur, on a Monday where volumes are often already rather on the low side compared to the rest of the week. Rather look for the middle of this week for things to finally come alive,
Meanwhile, the Swiss franc is expected to face pressure in the longer term as investors see the Swiss National Bank (SNB) leading the rate cut cycle due to a sharp slowdown in the consumer price inflation data. Price pressures in the Swiss economy have remained below to start reducing interest rates after holding them higher for longer.
Gold On the 1 hour chart, we can see that the price has been consolidating ever since the big drop from the US CPI report. We now have a minor resistance zone around the 1999 level which is what the buyers will need to break to start targeting the 2015 resistance next. The sellers, on the other hand, will keep on defending the level with a defined risk above it to...
committee also pushed back slightly about when the first rate cut will happen. Jay Powell noted that the Fed will be less likely to start cutting in March as many analysts were expecting. The Fed is battling a situation of high inflation and strong economic growth.
The AUD/USD pair has rebounded slightly from its lowest point this month. It now sits slightly below...
On the 4 hour chart, we can see more closely the rangebound price action which is often hard to trade due to its erratic nature. The best strategy is generally to sit out and wait for a clear breakout supported by aThe GBP/USD pair retreated slightly after the latest US inflation data. According to the Bureau of Labor Statistics (BLS), the headline Consumer Price...
Hot US inflation report justified the Fed’s pushback against early and aggressive interest rate cut expectations, triggering a fresh rally in the US Treasury bond yields and the US Dollar. In light of this, GBP/USD reversed sharply from the weekly high of 1.2681 to as low as 1.2572
The correction in the currency pair gained momentum on Wednesday after the annual...
