The USD/CHF currency pair exhibits a robust negative correlation with the EUR/USD. Currently, the USD/CHF remains within a bullish channel, despite experiencing a significant retracement in the previous trading session. In today's session, the price has shown a strong upward movement around the 0.9000 level, indicating a potential bullish impulse. Based on our...
In our previous analysis of the EUR/USD, we highlighted that the currency pair has been trading within a range, oscillating between support and resistance levels. Upon further examination, we have identified a bearish shark pattern with an entry point near the resistance zone. Additionally, today, we observed a divergence on the Relative Strength Index (RSI) in...
The EUR/USD is approaching a significant resistance area, marked by the 61.8% Fibonacci retracement level from the previous swing high. We are currently seeking a short setup based on this technical analysis. Meanwhile, from a fundamental perspective, the EUR/USD has experienced a slight decline after its climb towards 1.0800 on Thursday. Investors are exercising...
The EUR/USD currency pair exhibits a decline in value driven by increased demand for the US dollar. This marks the sixth consecutive session of losses for EUR/USD, as it breaches the crucial support level of 1.0700 for the first time since late March. The decline can be attributed to the continued strengthening of the US dollar and a corrective movement in...
The USD/CAD currency pair is experiencing a resurgence in buying interest, leading to a renewed intraday high around 1.3605 during the early hours of Tuesday's European trading session. This positive movement marks the first upward trend in three consecutive days. This notable upward shift is reflected in the Loonie pair's reversal from an upward-sloping support...
The EUR/USD pair has retraced back into the regression channel after dropping below 1.0720. It now faces potential support at the psychological level of 1.0700 and a static level. A sustained four-hour close below this level could attract further selling pressure, potentially pushing the pair towards 1.0660. The release of PCE figures and remarks made by Mester...
EUR/USD has started to recover on Friday, bouncing back from a four-day decline that pushed the pair to its lowest level in over two months near 1.0700. However, the near-term technical outlook still lacks a clear bullish signal in the short term, and the next move will likely be influenced by the upcoming release of the US Personal Consumption Expenditures (PCE)...
The GBP/USD pair is trimming its monthly losses, the first decline in three months, and hovering around 1.2360 during early Monday trading as markets in the UK and the US observe the Memorial Day holiday. Despite the Biden-McCarthy deal on the extension of the debt ceiling, the US Dollar is retreating from its multi-day high, supporting the recovery of the Cable...
GBP/USD has displayed upward momentum in early Friday trading, surpassing the 1.2350 level. However, the technical outlook for the pair has yet to indicate a clear reversal. As the weekend approaches, market participants will closely monitor the release of the US Personal Consumption Expenditures (PCE) Price Index data. Despite a return of risk appetite on...
Gold price has shown improvement as US Treasury bond yields retreat, driven by escalating concerns over the US debt ceiling. The 10-year and two-year Treasury bond yields have pulled back from their recent highs in early March. The lack of progress in negotiations to address the US debt ceiling expiration, coupled with fears of a potential catastrophic default,...
After reaching the Year-To-Date (YTD) high, USD/JPY bulls retreat to 139.50 in early European trading on Thursday. The Yen pair celebrates intraday gains but struggles in mixed markets.However, Bank of Japan (BoJ) Governor Kazuo Ueda told Reuters that the economy is showing signs of improvement but is still far from hitting the inflation target. “BoJ will...
During European trading hours, GBP/USD is experiencing renewed selling pressure, pushing it towards the 1.2400 level. The pair is facing challenges due to a rebound in the US Dollar, driven by uncertainty surrounding the US debt ceiling and a cautious risk sentiment in the market. This uncertainty has revived the safe-haven appeal of the Greenback. From a...
After the German IFO Business Survey was made public, Klaus Wohlrabe, an economist at the institute, expressed concerns about the German economy potentially stagnating in the second quarter. He stated that the German economy is treading water and highlighted a significant decline in expectations within the industry, particularly regarding exports. Wohlrabe's...
During the early European session, the GBP/JPY pair is exhibiting a fluctuating and unpredictable movement within a narrow range above 171.40. The cross is anticipated to maintain high volatility as market sentiment remains divided concerning additional interest rate hikes by the Bank of England (BoE). Despite BoE Governor Andrew Bailey's persistent efforts to...
The price of gold is currently undergoing a recovery as it seeks to regain ground above the $1,960 level, benefitting from a decline in the US Dollar index's upward momentum. Market participants are anticipating neutral policy guidance from Federal Reserve Chairman Powell's upcoming speech, which is influencing sentiment surrounding the precious metal....
EUR/USD Struggles to Find Stability as Bearish Pressure Persists Amid Cautionary Remarks and Market Uncertainty The EUR/USD pair has been facing significant challenges in finding stability around the 1.0800 level, with the near-term technical outlook indicating that sellers are likely to maintain control over the pair's movements in the short term. Adding to the...
EUR/USD is experiencing a decline in the European morning, with the pair approaching the 1.0800 level. The US Dollar is gaining strength as the market adopts a risk-off profile, with traders exercising caution ahead of upcoming US debt-ceiling discussions. In terms of technical analysis, the price initially rebounded from the 61.8% Fibonacci level today,...
GBP/USD reclaims 1.2400 levels as US Dollar weakens anew, focus on Powell's remarks The GBP/USD currency pair is witnessing a resurgence above the 1.2400 threshold, after exhibiting signs of exhaustion in its downward momentum. The Cable is striving to recover ground as the US Dollar experiences a corrective decline in tandem with the retreat in US Treasury bond...