Technical outlook: GBPUSD dropped through the 1.1933 level on Tuesday before finding bids again. The currency pair managed to rally through 1.2040 thereafter, taking out initial resistance at the 1.2031 mark on the hourly chart. It is seen to be trading around the 1.1990 level at this point of writing and is expected to move […]

The last time we looked at EUR/GBP was on May 23 when we called for a break above minor resistance at 0.8595 for a continuation higher towards the strong resistance at 0.9270 and ultimately a break above here should be expected for more upside progress towards the long-term target at 1.0592. In the short term […]

GBP/JPY dropped to minor support near 165.17 without any problems confirming our expectation of renewed downside pressure as wave Y unfolds towards strong support near 154.41 and maybe even closer to the 50% corrective target at 150.09. But for now, we should remain focused on the downside and a test of the first of our […]

Technical outlook: The US dollar index rose to a high of 105.43 on Tuesday before pulling back. The daily chart has produced a Doji (Hanging Man) candlestick pattern, indicating a potential bearish reversal. A break below 104.50 interim support will confirm the first step of a larger degree bearish turn. Bears would target below 101.00 […]

Technical outlook: EURUSD dropped through the 1.0396 mark on Tuesday before pulling back and finding interim support. The single European currency rallied through the 1.0484 high on the intraday chart before closing lower. The daily chart has produced a Doji candlestick, indicating a potential reversal on Wednesday. A confirmed Morning Star would indicate that bulls […]

GBP/USD 5M The GBP/USD currency pair managed to fall in price by only 275 points on Tuesday… We are talking about moving from the high to the low of the day. Still, at the beginning and at the end of the day, the pair corrected slightly, so the losses turned out to be slightly less. […]

EUR/USD 5M The EUR/USD pair tried to correct on Tuesday, but these impulses ended very quickly. The euro managed to grow only slightly above the level of 1.0459, after which it fell to its local lows, which are already in close proximity to 20-year lows. In principle, the euro currency is now maintaining both a […]

Yesterday, the euro had a respite before today’s difficult day of raising the Federal Reserve rate – according to some data from the current 1.00% to 1.50%, according to others to 1.75%. The main scenario assumes that the price will break the nearest support at 1.0340 and move further towards 1.0170. An alternative scenario – […]

The central event of the current week, and possibly the month, will take place on Wednesday: we will find out the results of the US Federal Reserve’s June meeting. On the one hand, the proposed Fed decision is predictable. The central bank will raise the interest rate by another 50 basis points, reaching a 1.5% […]

Gold is once again under pressure as expectations of higher interest rates sent dollar to a 20-year high and bond yields to an 11-year high. Market analysts say inflation concerns continue to dominate financial markets, and expectations are growing that the Federal Reserve will have to act even more aggressively to bring down inflation. The […]

Let’s take a look at the technical picture of EUR/USD, Gold, SP500 and Bitcoin The material has been provided by InstaForex Company – www.instaforex.com Related Posts:September 6, 2022 : EUR/USD daily technical review… September 6, 2022 In late September, Re-closure below the price level of 1.1700…September 6, 2022 : EUR/USD Intraday technical… September 6, 2022 […]

Bitcoin reached $23k for the first time in two years and continued to decline, updating the local bottom. Buying activity continues to remain low due to the panic situation in the market and fundamental negativity. As a result, the cryptocurrency managed to stabilize around $22.5k. A similar situation occurred on the chart of the market […]

At the close of the New York Stock Exchange, the Dow Jones fell 2.79% to hit a 52-week low, the S&P 500 fell 3.88% and the NASDAQ Composite fell 4.68%. McDonald’s Corporation was the top performer among the components of the Dow Jones in today’s trading, up 1.09 points (0.46%) to close at 238.47. Coca-Cola […]

Red line -support (broken) Blue rectangle- horizontal resistance Gold price was like a roller coaster of the last few sessions. Initially providing a bearish signal with a break below $1,850 and then reaching $1,824 only to make a sharp reversal to the upside and produce higher highs. Gold price broke above the blue horizontal resistance […]

Red lines – bearish channel Silver price is trading around $21. Short-term trend is bearish. In previous posts we warned traders of the bearish pattern of the descending triangle. Price broke support and price very fast reached our first target. Zooming out on the Daily chart we see price still inside a bearish channel. Silver […]

Technical analysis: Gold has been trading sideways at the price of $1.856 in the past few days. I see potential for the downside rotation due to rejection of the resistance in the backgorund. Trading recommendation: Due to the rejection of the resistance in the background and the no bigger buying power, I see potential for […]

Technical outlook: Silver dropped through $21.27 lows on Friday before reversing sharply towards the $22.00 mark. The metal has moved in line with expectations through the $21.30 mark, carving a potential higher low. Bulls will now be inclined to hold prices above $21.27 and keep the short-term structure intact. Silver carved a lower degree upswing […]

EUR/USD Higher timeframes Bears closed last week very optimistically. At the moment, their main task is to eliminate the daily golden cross (1.0516), which will open the road to the restoration of the downward trend on the weekly and monthly timeframes. The local lows of May 2022 (1.0349) and January 2017 (1.0339) serve as benchmarks […]

Technical outlook: Gold rose through $1,879 highs during the Asian session on Monday before reversing sharply. The precious metal dropped through $1,852 lows intraday and is seen trading around the $1,855 mark at this point in writing. Bulls will be now poised to hold prices above $1,825 intermediate support carved on Friday. Gold has carved […]

Blue lines- descending triangle pattern Yesterday in our Silver analysis we noted the bearish descending triangle pattern in the short-term and warned traders that a break in Silver price below $21.82 would be a bearish signal and price should then fall towards $21.20. Today’s low in Silver was at $21.23. Silver remains under pressure and […]

Blue rectangle- horizontal resistance Red line -support trend line (broken) Gold price has provided several signs of weakness since yesterday. Price failed to recapture $1,855 and instead price broke below $1,840 support level and the red upward sloping support trend line. Bears are taking control of the short-term trend. Price has made new lower lows […]

US and European stocks noticeably sank on Thursday, after the ECB announced its decision to start raising interest rates in July and the release of US inflation data today. Reportedly, the ECB said it will only increase rates by 0.25%, not by 0.50%, which most markets expected. They said they refuse to aggressively raise the […]

Due to today’s release of the US Bureau of Labor Statistics’ May Consumer Price Index (CPI) and next week’s FOMC meeting, many analysts, experts, and market participants are extremely concerned that the current inflationary pressure will not ease. Moreover, they believe that the tools available to the Federal Reserve will not control inflation by raising […]

EUR/USD Higher timeframes Another setback was waiting for the bulls yesterday during the rise to 1.0787 (weekly Fibo Kijun). The result turned in favor of the bears, which closed the last working day below the important supports 1.0643–20, thereby making a bid to gain support for their moods from the weekly short-term trend. Confirmation and […]

Watch breakout on good momentum on the Gold…. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:September 6, 2022 : EUR/USD daily technical review… September 6, 2022 In late September, Re-closure below the price level of 1.1700…September 6, 2022 : EUR/USD Intraday technical… September 6, 2022 The EURUSD pair had been trapped […]