The EUR/USD pair has experienced a pullback from its recent highs, facing strong resistance at the 1.12000 level. After two failed attempts to break above this level, the price has corrected to 1.1100, where it found support. Currently, the pair is trading in a range-bound pattern between 1.1200-1.1090. If the price manages to break and
Technical Analysis
The NZD/USD pair has recently rallied above key resistance levels of 0.6050 and 0.6120, indicating a strong bullish trend. This surge has propelled the pair into a positive zone, with the potential for further gains in the near future. A major bullish trend line is currently forming with support at 0.6120 on the 4-hour chart.
GBPUSD has recently broken above the previous peak on 7.14.2023 high at 1.3143, showcasing a higher high bullish sequence from the 9.26.2022 low. This definitive move leaves no doubt about the direction of the pair, which is undeniably higher. The rally from the 4.22.2024 low is currently unfolding as a 5-waves impulse Elliott Wave structure.
The recent strengthening of the Japanese yen against the US dollar has been influenced by key remarks made by the Bank of Japan and the US Federal Reserve. Governor Kazuo Ueda’s hawkish comments regarding a potential adjustment of monetary policy in line with economic trends have raised expectations of an interest rate hike. This comes
Gold prices have surged back to $2500/oz after a notable retracement during the US session on Thursday. This rebound can be attributed to a stronger US Dollar, rising US Yields, and potential profit taking ahead of Fed Chair Powell’s speech at the Jackson Hole Symposium. Market participants are eagerly awaiting Powell’s remarks to gauge the
The JP 225 stock index has seen a reversal of more than half of its July-August losses, indicating a potential bullish trend in the short term. Despite a downturn in the stochastic oscillator, the RSI and MACD are showing positive signs, with the RSI gradually moving upwards and the MACD remaining positively charged. The price
The EUR/USD pair has been on a rollercoaster ride, with the Euro surging against the US Dollar after breaking the 1.0950 resistance. Bulls pushed the pair above the 50-hour simple moving average and 1.1050, eventually testing the 1.1130 resistance. However, the pair is now consolidating gains above the 23.6% Fib retracement level. Immediate support lies
Recently, the US inflation rate has been on the decline, leading to speculation that the Federal Reserve might cut interest rates. This has resulted in a bearish sentiment towards the dollar, causing major currency pairs to approach critical levels that could potentially trigger new trends. Looking at the technical analysis of GBP/USD, there is a
Bitcoin (BTCUSD) has been struggling to gain momentum in recent sessions, with sentiment deteriorating after facing multiple rejections at the 50-day SMA. The cryptocurrency experienced a significant selloff in August, following a disappointing July Non-Farm Payrolls (NFP) report. Unlike traditional stocks, Bitcoin has been unable to recover substantial ground, as the 50-day SMA has consistently
The price of gold has been on a steady rise, with it hovering around $2500 per troy ounce, reaching record peaks. The surge in gold prices can be attributed to the increased demand for safe-haven assets amidst ongoing geopolitical tensions, particularly in the Middle East. The conflict in this region has intensified, with U.S. Secretary
In the realm of trading, particularly in the XAUUSD market, having a clear strategy is essential for success. The article highlights two key scenarios for traders to consider: a bearish scenario with sell positions below 2470, and a bullish scenario with buying positions after a pullback above 2460. On the daily timeframe, price consolidation is
Crude oil prices have been struggling to break through the $80.00 resistance zone, facing hurdles even after a brief spike above this level. The 4-hour chart of XTI/USD shows a downward trend after reaching a high of $80.26, trading below $78.80 and $78.00. The price is currently testing the 100 simple moving average, signaling a