Intraday bias in GBP/JPY remains neutral at this point, for consolidations below 190.05. Break 190.15 will resume larger up trend. However, break of 187.82 will turn bias to the downside for deeper correction back to 185.22 support instead. In the bigger picture, up trend from 123.92 (2020 low) in in progress. Medium term outlook will stay bullish as long as...
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...
After an impulsive bullish movement, USDCHF stopped, approaching a key daily horizontal resistance. The price formed a double top formation on that on a 4H time frame and violated its neckline during the NY session yesterday. Looks like the pair became too overbought. I expect a retracement to 0.8823 ❤️Please, support my work with like, thank you!❤️
The AUDUSD fell sharply yesterday, and that selling continued in the Asian session today. However after reaching into a key swing area between 0.6445 and 0.6455, momentum slowed, the price bottomed and a rebound was started. That move has now taken the price of 0.64912. Just ahead is a broken 61.8% retracement of the move-up from the October low to the December...
Crude oil today marked a new high for February, reaching $78.73 which exceeded the 38.1% Fibonacci retracement level of the downward move from the September peak at $78.14 (see chart above). This surge represented a significant bullish momentum for the commodity and was a positive tilt for the technical bias.
The USDCHF moved sharply higher yesterday after the stronger-than-expected CPI. The move to the upside extended above the 50% retracement of the move down from the October high. That level comes in at 0.8789. The 100-day moving average. That level comes in at 0.8805, and the 200-day moving average. The level comes in at 0.88464 The breaks of those key targets...
XAUUSD As you can see, after an uptrend and a new high, the price faced a correction from the 2146 range due to the liquidation of buyers. After the correction, the price rebounded slightly from the 1973 range but failed to stabilize above the 2081 liquidity range and saw another range and correction. Currently, the trend is stuck in a range. In the long-term...
Gbpjpy big bullish Unfavorable base effects were expected to lift headline and core CPI last month but in both cases, they stayed at the same level. A small win but a win nonetheless for the BoE. It was already expected to fall back to target in the second quarter before rebounding a little later in the year and this now increases the possibility of inflation...
The sharp move higher in Treasury yields and the dollar yesterday resulted in a steep drop in gold. Of note, the fall took out the January low as well as the $2,000 mark. But at least for the time being, buyers are able to hang on as the 100-day moving average (red line) at $1,989.80 is
EUR/USD news to watch will be the second estimate from Europe. Economists expect the data to show that the economy stalled in Q4. Eurostat will also release the latest weak industrial production data. The EUR/USD pair made a strong bearish breakout this week. It moved below the lower side of the bearish flag pattern. The pair also retreated below the support at ...
The GBP/USD pair retreated slightly after the latest US inflation data. According to the Bureau of Labor Statistics (BLS), the headline Consumer Price Index (CPI) rose by 3.2% in January, higher than the expected 2.7%. Core inflation rose by 3.8%, higher than the expected drop to 3.6%. These numbers mean that inflation is still high in the country and that it will...
The GBP/USD pair retreated slightly after the latest US inflation data. According to the Bureau of Labor Statistics (BLS), the headline Consumer Price Index (CPI) rose by 3.2% in January, higher than the expected 2.7%. Core inflation rose by 3.8%, higher than the expected drop to 3.6%. These numbers mean that inflation is still high in the country and that it will...
GBPAUD may retrace from a key horizontal resistance. After an impulsive yesterday's movement, the pair became overbought and formed a double top pattern on an hourly time frame. I expect a bearish move to 1.946 ❤️Please, support my work with like, thank you!❤️
If they stay higher for longer, it could chase out some springtime home buyers and put a fresh chill on the market. Moreover, Canada's broader economy isn't weathering high rates as well as the US Prolonging high rates could lead to a rougher recession or . if Canada cuts and the US keeps rates high -- open up wider rate differentials. That's something that could...
On the 1 hour chart, we can see more closely the recent price action with the pair ranging between the 1.2612 support and the 1.2643 resistance. We can notice that the price has already broken the triangle to the downside, but we will need also a break below the support zone to confirm the breakout. Watch out for the data today as it will add extra confirmation...
EUR/USD’s consolidation from 1.0722 is still extending and intraday bias remains neutral. While stronger recovery cannot be ruled out, outlook will stay bearish as long as 1.0895 resistance holds. On the downside, sustained break of 1.0732 will argue that whole rise from 1.0446 has completed. Deeper fall would then be seen to target this low
Intraday bias in USD/CHF remains on the upside despite loss of momentum as seen in 4H MACD. Current rise from 0.8333 should target 61.8% retracement of 0.9244 to 0.8333 at 0.896. On the downside, below 0.8724 minor support will turn intraday bias neutral first. But near term outlook will stay cautiously bullish as long as 0.8551 support holds.
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