Based on technical analysis, following the price increase on Monday, the price has continued to maintain stability within the range of 68.480 - 71.740. Technical indicators suggest that prices will still continue rising in the near future, with the potential to break through the nearest resistance level at 71.786. This indicates the strength of buying pressure...
GBP/USD is under relentless selling pressure, dipping just below the 1.2600 mark during Thursday's European trading session. The resurgent dominance of the US Dollar (USD) has exerted a formidable force on GBP/USD throughout the latter part of the week. It is expected that the price will drop sharply if it breaks the support zone of 1.2590.
GBP/USD pair traded lower around the 1.2620 level at the start of the European trading session on Friday. TThe decline of Pound Sterling (GBP) is backed by the growing speculation that the Bank of England (BoE) will begin an interest rate cutting cycle this year. Technically, the GBP/USD price continues to maintain a downward trend as it remains below both the...
Technical analysis indicates that the EMA 34 has crossed above the EMA 89, forecasting a continuation of the upward trend. However, the USD/JPY is currently moving sideways and stabilizing around 151.40, and forecasted decline due to the cautious stance of the Bank of Japan (BOJ) on interest rates. Japanese Finance Minister Suzuki expressed concern about the...
Based on the daily timeframe analysis, the USD/JPY exchange rate has maintained a stable range around 151.20/151.90 this week, despite its overall upward trajectory. The increasing disparity between the EMA34 and EMA89 moving averages indicates potential for a breakthrough above 152.00, aiming for a new high around 153.00. However, it's essential to consider the...
In the backdrop of the continued strength of the US Dollar (USD), the EUR/USD currency pair continues its descent, swayed by the prevailing hawkish sentiment surrounding the Federal Reserve (Fed) and the anticipation of forthcoming interest rate hikes. The strengthening of the US Dollar (USD) is bolstered by recent robust economic indicators emanating from the...
EUR/USD pair broke below the 1.0800 threshold on Thursday, hitting a new low for March at 1.0773-1.0774. Despite bouncing back from such lows, the pair still maintains a negative tone and stability around the 1.0790 price level. The US dollar has benefited from positive comments from the Federal Reserve officials, with Governor Chris Waller confirming that the...
While US bond yields are rising, the price of gold continues to trend upwards. Strong statements from a Federal Reserve policymaker and positive economic data from the US have kept both the US dollar and gold stable. Currently, XAUUSD has increased by more than 1.20%. The upward trend in gold remains intact after surpassing the previous peak at 2,223 and...
At time W1, D1 is currently returning in the form of a three-wave movement after a corrective cycle. Therefore, in the range of the green box, after the failure of the swing, it can continue its growth with a pullback to the specified range, at least up to the range of 0.34, and then in the Fibonacci levels, which are areas with supply areas. 🟩Sup: 0.1587 -...
GBP/USD is facing downward pressure and has slightly dropped below the 1.2600 level during the European trading session. However, market volatility could increase towards the end of the European session, potentially necessitating a retest of the support zone at 1.2584 during the U.S. session.
Hello traders, In the Asian session this morning, the GBP/USD price has shown a downward trend but has yet to break the 1.2586 support level. It is predicted that the price will rise in the short term to the resistance zone at 1.2675 and then retrace back to the support zone at 1.2586.
Currently, the price of Bitcoin is stabilizing at 71,557 and has the potential to break through the nearest resistance zone. Forecasts indicate that if this trend persists and the price surpasses the strongest resistance zone above, there may be a significant uptrend in the near future. However, if there is a reversal, the price can test the nearest support and...
📊 Analysis: Support Zone: PYTH is compressing down to $0.905, indicating a support zone. Building Up: Signs of building up are observed in this support area. Laddering In: Consider laddering into positions at this level. Next Support: If $0.905 fails, next support likely at $0.80. 📈 Trade Plan: Entry: Initiate a trade around $0.905. Take Profit: Target set at...