It is anticipated that the Federal Reserve, which is responsible for managing the US's monetary policy, will raise interest rates again. This could potentially cause the US economy to slow down and enter a recession later this year. In recent weeks, concerns about a banking crisis have affected the oil market. The US government took over First Republic Bank, and...
CADCHF has been trading within a bearish channel since early 2022, and the price is currently consolidating inside bearish channel pattern. The recent price action has approached the support level of the bearish channel, which suggests that there is a possibility of a rebound or a bounce upwards. The stochastic 5,3,3 indicator has crossed below the oversold...
Based on recent price action, EURNZD has formed a bullish channel pattern. Last week, the price breakout from the resistance area of the bullish channel, indicated a strong buy signal. This week, there is a possibility of price correction and the price retraced, but still managed to find support in the bullish region. The stochastic 5,3,3 indicator has crossed...
The US stock market went down because banks and financial companies were selling their stocks. People who invest money were also getting ready to see a report about jobs, which could change how much interest banks charge for loans. There were some reports that showed the US economy is doing well. But this made some people worry that the Federal Reserve, which...
NZDCAD has formed a bearish channel pattern, price has been consistently moving downwards within a defined channel. Currently, the price is approaching the support level of the bearish channel, which is a price level where historically the price has tended to bounce upwards. This suggests that there is a possibility of a price rebound or bounce upwards from the...
GBPNZD currency pair is currently showing a consolidation within a wedge pattern. The price is approaching the resistance level of the wedge pattern, which is historically known to be a price level where the price tends to pullback or bounce downwards. Based on this historical price behavior, there is a potential pullback or downward bounce from the resistance...
GBPCHF is currently within a falling wedge pattern, with the price near the resistance of this pattern. It's likely that the price will pullback, then bearish to the support level of the pattern. Traders should set a stop loss if the closing price is above 1.1408. If this stop loss is triggered, long positions can be taken with bullish targets up to 1.1055. It's...
The NZDCAD price is still in a downtrend channel and currently near the resistance area of this channel. It's likely that the price will pullback to around 0.843, but traders should set a stop loss if the daily closing price breaks out or above the resistance area of the channel. In case of a breakout, the price is likely to be bullish until it reaches the range...
We can observe that the price is currently trading near a resistance area. There are two possible scenarios that could play out - the price could rebound from the resistance level and continue to trade within its current range, or it could break below the resistance level and potentially begin a downtrend. To help identify potential levels of support and...
The recent decision by the Reserve Bank of Australia (RBA) to raise the benchmark interest rate by 25 basis points to 3.6%. When a central bank raises interest rates, it signals that they are trying to control inflation by reducing the amount of money available for borrowing and spending. This can help to stabilize prices and keep inflation under control. It can...
Looking at the four-hour (H4) timeframe and observing that the price has recently broken out of a bullish channel support. A bullish channel is a price pattern that forms when the price is trending upwards within a well-defined channel, with both the upper and lower trendlines sloping upwards. When the price breaks below the lower trendline, it is considered a...
Monetary policy have a significant impact on the value of a currency. The European Central Bank (ECB) is responsible for setting monetary policy in the Eurozone, including interest rates, the money supply, and other factors that influence the availability and cost of credit in the Eurozone. If the ECB implements expansionary monetary policy, such as lowering...
GBPUSD projection for the week ahead. Technically shows a sideways trend, possible price rebound/pullback and breakout is marked with blue and gray arrows. This week, the influence of NFP on the USD exchange rate can be considerable as the strength of the United States economy can influence the US central bank's (Federal Reserve) decisions on monetary policy,...
The correlation between the Nikkei index and the Japanese Yen on the daily timeframe can fluctuate depending on market conditions and fundamental factors affecting both. However, in general, there is an inverse correlation (negative correlation) between the two. NIKKEI225 5th MARCH 2023 This can be seen in situations where the yen strengthens, the Nikkei...
The JAPAN225 (Nikkei index) is close to a significant resistance area, the possibility of a reversal or a change in the direction of the uptrend to a downtrend will increase. This is because a resistance area is a price level that has been tested before and successfully prevented the price from rising, so there is a possibility that this level will once again act...
EURNZD technical analysis shows a consolidation trend. In the short term, market participants can look for opportunities to enter sell near strong resistance levels or in the area of a significant trend reversal. NZD tends to strengthen against several other major currencies AUD, GBP, and EUR. Various factors, such as expectations of future interest rate hikes,...
USD strengthened after a hawkish statement from St. Louis Fed President Bullard regarding the possibility of a 50 basis points hike at the next FOMC meeting. USD rallied after higher-than-expected US Producer Price Index data.
Oil prices fell below US$81 after surging more than 8 percent last week. Although Moscow will reduce supply by half a million barrels per day by March 2023 due to tightening flows, investors remain wary that the Federal Reserve needs to continue pushing interest rates higher to tame inflation. The Fed's push has weighed on the appetite for riskier assets including...