GBP/USD continues to decline below 1.2500 due to the strong US dollar and political tensions in the Middle East. This not only puts pressure on the British pound but also weakens the UK economy, causing instability in the currency market. Furthermore, the price has broken through the trendline, indicating that the downward trend of this currency pair is becoming...
Please, check our technical outlook for DXY. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 105.862. The above observations make me that the market will inevitably achieve 105.500 level. P.S Please, note that an oversold/overbought condition can...
Here is our detailed technical review for NZDCHF. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 0.546. Taking into consideration the structure & trend analysis, I believe that the market will reach 0.543 level soon. P.S Overbought describes a period of...
The EUR/USD currency pair continues its downward trend following the release of CPI inflation data, with prices dropping to 2,700 USD during the European trading session on Friday. The CPI inflation data release caused the US Dollar (USD) to strengthen significantly, putting downward pressure on this currency pair. This has raised concerns among investors about...
Hey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.46800 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.46800 support and resistance area. Trade safe, Joe.
EUR/USD SELL 1.0686 Hello Traders 👋If you find this analysis useful, please support me with your likes and comments. SL 1.0782 TP1 1.0606 TP2 1.0511 If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
On Friday morning in the Asian session, GBP/USD remained low around 1.2550. Expectations that the Bank of England might cut rates before the U.S. Federal Reserve are weighing down on the British Pound and the currency pair. Indicators are trending downward, and a bearish crossover between the EMA 34 and 89 is adding pressure to the pair. UK Industrial Production...
Hey folks, so here’s the scoop on EUR/USD: This Friday in the early Asian trading session, the pair was trending down, hovering around 1.0728. There's a bit of a modest recovery happening with the U.S. dollar (USD), especially with all the chatter about the Fed potentially cutting rates in September, and that's really putting some pressure on this major currency...
Hey warriors, let's dive into the EURUSD saga! The EURUSD just went through a rollercoaster, quickly sketching out a double top pattern before taking a sharper nosedive post the breach of the 1.083 support level. Currently at 1.074, it's attempting a slight rebound after brushing the 1.073 support, but don't hold your breath for a long recovery. With the USD...
The price of gold is soaring towards the nearly 2390 mark, with expectations that the Federal Reserve will cut interest rates this year. From a technical perspective, on the 1-hour chart, the upward trend of gold prices remains strong and stable. Gold prices are maintaining above the Simple Moving Average (SMA) lines, suggesting that the upward trend may...
Today's gold price is following a specific wave pattern, experiencing a dip due to the US CPI index from yesterday. Despite geopolitical risks typically benefiting XAU/USD as a safe haven, the rising US dollar could cap further gains. Yet, the short-term downside risk remains. Gold is likely to retest the $2,305 area as per the pattern before a potential uptrend resumes.
The Japanese Yen took a dip against the dollar this Wednesday, thanks to the U.S. serving up some spicy inflation figures hotter than expected. This shift has pushed back the Fed’s rate cut chatter from June to September. Also, digging into the latest FOMC minutes, it looks like U.S. officials are wary about inflation dragging its feet, which could mean keeping...
Hey Traders, in the coming week we are monitoring EURUSD for a selling opportunity around 1.08800 zone, EURUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.08800 support and resistance area. Trade safe, Joe.
Hello,Friends! GBP-JPY uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 191.112 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GBP/JPY pair. ✅LIKE AND COMMENT MY IDEAS✅
Hello,Friends! Previous week’s green candle means that for us the GBP/CHF pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 1.141. ✅LIKE AND COMMENT MY IDEAS✅
Hello,Friends! The BB upper band is nearby so GBP-CAD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.709. ✅LIKE AND COMMENT MY IDEAS✅
Take a look at our analysis for SILVER. Time Frame: 2h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 27.932. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 27.486 level. P.S The term...
In Wednesday's US trading session, the GBP/USD pair plunged to a two-month low at 1.2520 after the release of CPI inflation data. This increased selling pressure and raised concerns about the UK's economy and monetary policy. Despite some signs of short-term adjustment, GBP/USD continues its downward trend, as evidenced by prices declining towards the Simple...