As we approach the FOMC meeting later today, there is anticipation of a potential bullish movement of the EUR against the USD, accompanied by a retest of the 50% Fibonacci level on the short timeframe and an uptick in value. Indicators suggest oversold conditions. Regarding the Federal Reserve, it is expected to maintain a hawkish stance, acknowledging persistent...
In anticipation of the forthcoming FOMC meeting, the AUDUSD currency pair is demonstrating a notable increase in value, defying the backdrop of data indicating a prevailing contraction in private business activity across Australia during March. Despite these domestic economic challenges, market attention remains focused on the Reserve Bank of Australia’s (RBA)...
During the early trading hours of Friday's European session, the USD/CHF pair sustained its downward trajectory for the third consecutive day, with its value depreciating to 0.9080. This extended decline comes on the heels of a recent pullback from a notable seven-month peak, observed around the formidable resistance zone positioned at 0.9200. The retreat in value...
Following a notable rebound at the daily 61.8% Fibonacci retracement level, the GBP/USD appears poised for a potential bullish impulse continuation, particularly from the level around 1.23500. The recent downturn in the US Dollar's value, which concluded the week on a significant decline, correlates with a broader trend of decreasing US yields across various...
The Pound Sterling's recovery has encountered a standstill amidst robust speculation regarding early rate cuts by the Bank of England (BoE). Concurrently, the GBP/CAD pair, after establishing a bottom within its channel around 1.68880, initiated a pronounced bullish surge, propelled by a convergence of technical and seasonal indicators. Technically, the price...
EURUSD with bulls seemingly determined to challenge trendline resistance the event of a retest buyers will need to fend off the advance otherwise
The price of gold has surged to historic highs, reaching around $2170 fueled by a robust bullish rally, with little room for a retracement to catch its breath. However, indicators are signaling an overbought condition, suggesting a potential retracement or pullback in price. Central bank policymakers' dovish commentary has provided tailwinds for the yellow metal....
The EUR/USD currency pair continued its upward momentum, surging to its highest level in seven weeks, surpassing the 1.09550 mark. However, as it nears a significant supply area, market analysts anticipate a potential pullback or retracement in the price. Following the March policy meeting, the European Central Bank (ECB) opted to leave key interest rates...
Key News: Japan - BoJ Press Conference USA - Core PCE Price Index (MoM) (Jun) USA - Core PCE Price Index (YoY) (Jun) The Dow Jones Industrial Average is on the verge of breaking its longest winning streak in 36 years, fueled by Wall Street's tech-driven rally. The index achieved an impressive 13 consecutive...
EUR/USD Records Lowest Daily Close Since July 12 Amid Economic Weakness in Eurozone The EUR/USD pair faced another decline, marking its lowest daily close since July 12. Continuing its downward trend for the fifth consecutive day, the pair is undergoing a corrective phase after reaching its highest level in over a year, near 1.1300, earlier this month. The drop...
Key News: Canada - Manufacturing Sales (MoM) USA - S&P/CS HPI Composite - 20 n.s.a. (YoY) (May) USA - CB Consumer Confidence (Jul) On Monday, the Dow Jones Industrial Average extended its winning streak with an impressive eleventh-straight gain, primarily driven by a surge in energy stocks. Investor sentiment remained upbeat as they embraced the...
After a relatively quiet Asian session, the EUR/USD pair faced an onslaught of bearish pressure, breaking below the critical level of 1.1100. Now, the focus shifts to the next potential support zone around 1.1050, although there may be some reprieve in the near term due to oversold conditions. The latest data from Germany brought concerning news, as the HCOB...
Greetings, traders! Welcome back to our daily Market Analysis. Today, we have gathered the top news and interesting fundamental analysis for your consideration. Let's dive in and stay informed! The market digests positive earnings reports and economic optimism, driving various assets higher. Among them, the Australian Dollar surges on the back of robust...
GBP/JPY maintains its bullish stance around the mid-175.00s, supported by concerns about the dovish stance of the Bank of Japan (BoJ) and selling pressure in Treasury bonds. The currency pair continues to hold onto moderate gains, reaching its highest levels since January 2016. Despite mixed concerns about the UK's economic growth, sellers remain subdued due to...
On Tuesday, the AUD/USD pair reached its highest level in a month at 0.6807 following the release of US economic data. However, it later retreated, reducing its daily gains. The Australian dollar struggled to stay above 0.6800. Although the upward trend remains intact after rising in eight of the last nine trading days, it appears that some consolidation or...
GBP/USD Retreats from Highs, Holding Ground Below 1.2600 Level in Early European Trading GBP/USD, after reaching its highest level since May 10 near 1.2570 earlier on Friday, is currently struggling to gain upward momentum and has entered a consolidation phase during the European trading hours. The pair has edged lower, defending minor bids below the 1.2600...
The EUR/USD faced downward pressure, remaining below the 1.0800 level. However, it experienced a notable upswing on Thursday, delivering its strongest performance in weeks, primarily driven by a weakened US Dollar. The Greenback faltered across the board as softer employment data from the US emerged ahead of the upcoming FOMC meeting next week. This favorable...
EUR/USD is maintaining a steady position near 1.0750 as it consolidates its pullback from Friday's movement in the early hours of Monday. The main currency pair is treading cautiously, influenced by a generally stronger US Dollar and US Treasury bond yields. Market activity remains subdued as investors brace themselves for upcoming events from the Federal Reserve...