The GBP/USD is extending its recovery rally towards the 1.2500 level in Thursday morning's European session. This currency pair continues to be supported by the prolonged weakness of the US Dollar along with low-interest rates of US treasury bonds. On the 4-hour chart, we observe that the GBP/USD has crossed above the 20-period Simple Moving Average (SMA),...
Here is our detailed technical review for SPX500. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 5062.0. Taking into consideration the structure & trend analysis, I believe that the market will reach 4928.9 level soon. P.S Overbought describes a period...
The EUR/USD currency pair is seizing the opportunity for recovery after a period of sharp decline. This resurgence is being strongly driven by the downward pressure on the US Dollar, opening up a wide door for the Euro to push prices back towards the highs. The target for the EUR/USD pair is the vicinity of the SMA 50 area, close to the 0.5-0.618 Fibonacci level....
The EUR/USD currency pair has surged higher, reaching the level of 1.0672 on Thursday at the start of the Asian trading session. This recovery is being strongly propelled by the downward pressure on the US Dollar, opening up a wide door for the Euro to recover and increase in value. Looking at the chart, we can easily observe the transition from a downtrend to an...
Hello everyone, following last week's sharp decline, EURUSD appears to have stabilized, with prices not showing significant changes from the start of the week, hovering around 1.063. The downward trend remains intact, and the descending trendline continues to be effective, favoring sellers. Looking ahead, the relatively weak economic foundations in the Eurozone,...
Although USD/JPY is still in an upward trend, the market is currently experiencing a notable correction phase. Looking at the chart, it's evident that prices are rebounding and undergoing a downward adjustment, resulting in a certain level of volatility. It is expected that prices will test the SMA 20 moving average area before resuming a stronger upward momentum.
GBP/USD is holding its latest increase above 1.2450 in the European trading session on Wednesday. On the 1-hour chart, we see a positive signal as GBP/USD has surpassed both the simple moving averages SMA 20 and SMA 50. The prediction is that the price will surpass the SMA 100, which is a sign of a strong uptrend. And the target is aimed at the psychological level...
Overall, EUR/USD is currently reflecting a downward trend due to the strong growth pressure of the US dollar (USD). This pressure has pushed prices down near the 1.0620 level in the early Asian trading session on Wednesday. However, technical analysis suggests that the market may experience a short-term upward correction. The possibility of prices rising to touch...
Gold hit its lowest price of the week at 2,354 USD in Wednesday's US trading session, failing to surpass the 2,400 USD mark. The inability to reach the 2,400 USD milestone has cast uncertainty over Gold's upward momentum, leading to a decline in its price. Looking at the 1-hour chart, we can observe the downward trend of the gold price based on trading below the...
The U.S. Dollar has gained against the Japanese Yen in early North American trading, bolstered by strong U.S. economic data and a range of comments from neutral to hawkish by Federal Reserve officials. The USD/JPY is trading at 154.61, up 0.22% from the open, maintaining its upward trajectory. USD/JPY buyers might push the exchange rate to challenge the 155.00...
Gold prices are currently wrestling with the $2,400 mark at the start of Wednesday, following a quiet close the previous day. The precious metal is making another bid to reclaim the $2,400 threshold as the U.S. dollar weakens slightly due to a dip in Treasury yields, all while anticipating a new lineup of speakers from the Federal Reserve. Gold remains at a...
Overall, GBP/USD is still maintaining a downward trend. This currency pair continued to decline during Wednesday's US trading session. Based on technical analysis, the Relative Strength Index (RSI) is currently trading around 40, which is often a sign that prices will continue to decline sharply. In this context, investors need to be cautious and carefully...
At the beginning of Wednesday, the USD/JPY pair continued to hover below 155.00, a clear signal of the strength of the Japanese Yen. This stability is primarily supported by underlying risks of impending intervention from Japan. A slight decline in the US Dollar and US Treasury bond yields is also weighing on this currency pair. However, chart analysis reveals...
Gold prices saw a slight uptick at the close of the North American trading session, rising 0.22% after Fed Chair Jerome Powell’s hawkish remarks. Economic data from the U.S. was mixed, though Monday’s retail sales report and Powell's comments drove U.S. Treasury yields higher, limiting the gains for the yellow metal. From a technical standpoint, XAU/USD is poised...
Overall, EUR/USD is still maintaining a downward trend. EUR/USD has dropped to near the 1.0620 level at the beginning of the Asian trading session on Wednesday. This indicates the strength of the US Dollar compared to the Euro in recent times. However, when looking at the technical charts, we can see some positive signals suggesting that the price may be...
Hello,Friends! SILVER pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 10H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 27.403 because the pair overbought due to its proximity to the upper BB band and a bearish correction is...
Hello,Friends! CAD/JPY is trending down which is obvious from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a great trend following opportunity for a short trade from the resistance line above towards the demand level...
Hello,Friends! AUD/JPY pair is in the uptrend because previous week’s candle is green, while the price is evidently rising on the 4H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 99.363 because the pair overbought due to its proximity to the upper BB band and a bearish correction is...