Take a look at our analysis for GBPJPY. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 192.735. The above observations make me that the market will inevitably achieve 190.389 level. P.S Overbought describes a period of time where there has been a...
Here is our detailed technical review for US500. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 5203.9. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 5153.7...
Long-term Analysis of USDJPY: This pair is navigating through the waves of Dow Theory, and for the past several weeks, it seems to be gearing up in an accumulation phase, setting the stage for a potent rally aimed at the Fibonacci extension target of 1.618 (equivalent to 176.500). However, this scenario hinges entirely on breaking through the 152.000 resistance...
In Thursday's trading session, the EUR/USD pair lost momentum, dropping to around 1.0745 due to the CPI inflation data boosting the value of the US Dollar (USD) and exerting pressure on the EUR/USD pair. The decision on interest rates by the European Central Bank (ECB) is expected to maintain stability at record high levels. From a technical standpoint, on the...
Hey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66450 zone, AUDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.66450 support and resistance area. Trade safe, Joe.
Dear Traders, I'm closely monitoring the GBPUSD pair in today's trading session, and I wanted to share some insights with you. GBPUSD is currently in a downtrend, indicating a general downward movement in prices. However, it's important to note that within this trend, the pair is experiencing a correction phase. This correction phase seems to be leading GBPUSD...
In Thursday's Asian trading session, EUR/USD pair remained around the 1.0740 level. Following the release of CPI inflation data, the US Dollar (USD) strengthened significantly, exerting pressure on this currency pair. On the 1-hour chart, the Simple Moving Average (SMA) 20 is trending downwards, indicating that the downward trend may continue. This signals a...
On this vibrant Wednesday, the GBPUSD saga continues its recovery streak, gracefully dancing above the 34 and 89 EMA lines. The bullish momentum is back in the spotlight as it flirts with the 0.618 Fibonacci zone, currently pirouetting at the 1.267 mark. Short-term wisdom leans heavily towards buy strategies, eyeing a quick win at the 1.270 peak before wrestling...
Hey there! Let's talk EUR/USD. We're not expecting this currency pair to make any big moves until the US Consumer Price Index (CPI) numbers are released. Everyone's got their eyes peeled to see if the US prices have gone up by 3.4% this March compared to last year, which is way above the Fed's comfy zone of 2.0%. And until those prices cool down a lot more, the...
Greetings, fellow traders! The EURUSD is playing it cool today, not straying far from yesterday's hangout spot. It's like we're all in this zen garden of stability, and it just might stick with us till the day's end and beyond. The Bollinger Bands are kicking back, stretching between the resistance at 1.088 and the support at 1.081, just chilling. At the time of...
In Wednesday's US trading session, the sharp decline of Gold after reaching a new peak at $2,365 has rendered the market unstable and caused sudden volatility. This was spurred by the release of US Consumer Price Index (CPI) data, generating uncertain signals in the market. However, upon examining the 4-hour time chart, we can still observe signs of maintaining...
Hey incredible friends! What are your thoughts, will BTCUSDT continue its upward trend? 🚀 Based on the past week's actions, here are my insights: BTCUSDT is currently hovering close to its record highs. The bullish momentum on the daily chart remains intact as BTCUSDT has rebounded off the EMA 34 line, keeping the upward trajectory within a narrowing range. Any...
Short-Term BTCUSDT Trading Strategy: On Tuesday, BTCUSDT experienced a drop, trading around $70,600 and shedding 1.4% over the day. In the short term, bears seem to have the upper hand, with the price moving below the 20 SMA and nearing the lower limit of the Bollinger Band. I plan to sell, following the entry points, TP, and SL outlined in my analysis. What...
XAU/USD dropped sharply after reaching a new high of 2.365 USD in Wednesday's US trading session following the release of US Consumer Price Index (CPI) data, which unsettled the market and caused sudden volatility. Analysis from the 4-hour chart indicates that XAU/USD is trading below both the simple moving averages (SMA) 20 and 50. This is a clear sign of...
Hello, beautiful souls! 🌟 Today, gold's gleaming journey continues as it scales new record highs, powered by central bank buying across Asia. A recent report unveiled a dazzling move by the People's Bank of China, adding a golden stash of 160,000 ounces to its reserves in March. Not to be outdone, Turkey, India, Kazakhstan, and several Eastern European nations...
Today, the price of gold witnessed a notable ascent, initially surging to $2,352.5 as the Asian markets opened, before cooling down and stabilizing at around $2,345. This persistent upswing in the precious metal has been fueled by demand for safe-haven assets amidst concerns over ongoing conflicts. Meanwhile, markets await the release of the Federal Reserve's...
Gold is on a fast track to making history with its eighth consecutive day of gains, barely pausing long enough to offer a better entry point for those looking to ride the uptrend. The precious metal shows hardly any signs of a slowdown, with today's CPI data spotlighted as a potential game-changer. Reflecting on recent events, not even the NFP report could put a...
In the past two days, USD/JPY has maintained below 152.00. However, after the release of the United States' Consumer Price Index (CPI) data, this currency pair underwent a sharp increase, surpassing the 152.00 threshold and reaching 152.64. Based on technical indicators, we can observe that the USD/JPY price is experiencing a strong upward trend. This upward...