EURUSD stays pressured within a three-week-old falling wedge bullish chart formation as the pair traders await the first readings of German and the Eurozone Gross Domestic Product (GDP) for Q4 2024 early Tuesday. In doing so, the quote fades the previous day’s corrective bounce off the stated pattern’s bottom line while portraying a third consecutive weekly loss...
Based on various data analysis like fib, structure etc. I see a potential sell opportunity in GBPJPY at the marked area. Kindly do follow your own analysis as this not a trade recommendation.
"Hello everyone! Last week, the price of gold continued its slight decline, dropping from $2,029.6 per ounce at the end of the previous week to $2,018.5, a decrease of $8 after a week of trading. Gold is currently under pressure from profit-taking, in the context of recently released US economic data that could impact the Federal Reserve's decision on whether to...
Dear friends, The GBP/USD pair is trading steadily around the psychological level of 1.2700 in the early Asian trading hours on Friday. The optimistic GDP growth figures from the United States have boosted the greenback against its rivals. Next, traders will be monitoring the GfK consumer confidence in the United Kingdom for January. The focus will then shift to...
Hello dear friends, what do you think will happen to GBPUSD in the near future? Today, this currency pair is still maintaining a prolonged sideways trend, with short-term prices favoring buying. However, there is still a lack of momentum for this pair to break out of the range as investors shift their focus towards monetary policy announcements from the Federal...
Dear readers, EUR/USD has once again dropped to a low of 1.0850 as the currency pair continues to fluctuate within familiar levels this week. The downward price trend has pushed the Euro lower against the US Dollar following the ECB's decision to maintain interest rates and better-than-expected US GDP data. On the 4-hour chart, the currency pair is trading near...
Dear friends, overall EURUSD is not receiving much support as the main trend is downward, surpassing the psychological support level of 1.090. The prevailing risk aversion sentiment, driven by escalating geopolitical tensions in the Middle East, is causing traders to favor the US dollar (USD), putting downward pressure on the EUR/USD pair, which is trading near...
The USDJPY has been relatively stable today, hovering around the 147.57 level and near the EMA lines on the 1-hour time frame. There are indications of a short-term price decline, as a double top pattern is forming with support at 147.400. If the pair breaks below this support level, it could open up more opportunities for sellers, with an initial target of 146.70...
The gold price today seems to have remained unchanged from earlier this morning, mainly ranging between 2021 - 2022 USD. Although the US GDP growth has exceeded expectations and core orders have increased, negative factors such as rising unemployment claims and inventory levels, along with reduced personal consumption, will pose challenges to the US economy. As a...
DXY/Dollar Index is currently trading near an overhead supply - It will be very crucial to watch how it exactly reacts to its overhead supply - IMO even if we see a good reaction from the overhead supply it will be still important to watch the reaction. - From a long perspective it's better to wait out and first let the breakout happen - let the base form -...
Gold prices today surged from $2013 to $2020 per ounce at 6 am on January 26th. The reason behind this is the improved economy of the United States and the cooling inflation in the country. Specifically, in 2023, the US GDP is projected to grow by 2.5%, a significant improvement compared to the 1.9% growth in 2022. On the other hand, after excluding food and...
Hello dear friends! Today, USDJPY is trading around 147.66 and is in a corrective wave within its trend, as the currency pair has just experienced a downward breakout from a marked support level. Accordingly, the USD/JPY pair is undergoing a downward trend as market confidence recovers due to expectations that the Federal Reserve will begin implementing interest...
Dear friends, currently the GBP/USD pair continues to trade within an upward channel during the early Asian trading hours on Thursday. The major currency pair has rebounded above the 1.2700 level due to risk acceptance sentiment. However, the release of the US preliminary Q4 GDP growth figures on Thursday could cause market volatility. In the short term, the...
Hello dear friends, today EURUSD continues to decline as widespread forecasts of weak US PMI data have weakened market sentiment and pushed EUR/USD lower as investors anticipate the momentum of the day and retreat to the safe haven of the US Dollar (USD). The price is currently trading within a downtrend channel, while it has completed a correction at the...
Gold price stays defensive near $2,022 as bulls await the key US data to extend the previous day’s rebound from a six-week-old rising support line. That said, the US Core PCE Price Index, also known as the Fed’s preferred inflation gauge, gains additional importance this time amid reducing market bets on the US central bank’s delayed rate cuts. Should the...
Dear friends, currently USDJPY is maintaining a strong upward trend, reaching 147.89 in early week trading. In the short term, technical indicators continue to support the upward trajectory of USDJPY. This currency pair is attempting to recover after finding significant support around 148.00. The upward momentum may be further bolstered by the US Dollar Index...
With the US Dollar’s failure to cheer upbeat PMI details, the EURUSD pair managed to rebound from an upward-sloping support line from early November, especially when the activity data from Germany and the Eurozone came in positive. The recovery moves, however, failed to cross the 50-SMA hurdle on a daily closing basis and tease sellers ahead of the all-important...
GBPUSD Trading Strategy: The GBPUSD currency pair experienced a significant decline towards the end of Tuesday, maintaining a price level around 1.270 at the start of the trading session with a modest recovery of 0.07% throughout the day. However, GBPUSD is currently in a corrective phase after retesting the Breakout zone, and it is expected that the price will...