Japan FinMin Suzuki: Will Deal With Forex Appropriately But Declines To Say Whether Forex Moves Are Excessive USDJPY breaks higher as inflation came at 1.7% down from 2.5% expectations, and 2.6% prev reading. Thats very interesting reading. Who would think of this data considering how expensive
Gold struggles to stage a rebound following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% ahead of US data, not allowing XAU/USD to gain traction. Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around...
Gold prices have recovered slightly during today's Asian session and are currently trading around the $2,330 resistance level. Gold prices have now recovered after falling sharply following last night's US GDP data and the precious metal is currently trading around $2,330. Although gold's upward momentum has weakened when the RSI indicator on the daily chart...
📈 USDCHF Analysis: Potential Breakout Opportunity Ahead Hey Traders! 👋🏼 Let's dive into the exciting action on USDCHF! 🚀 🔍 Current Situation: USDCHF is currently in the midst of a powerful bullish trend on the daily timeframe. As we speak, it's testing a crucial horizontal resistance level. 📊 This moment could be pivotal! 💡 Trading Strategy: I'm on high alert...
Hello dear traders, 📊 EUR/USD is in a holding pattern ahead of major US economic data 📉 Resistance looms near 1.08000 while support holds at 1.06000. Traders are on edge as key reports like non-farm payrolls and Fed announcements approach 📈 Positive US data could give USD a boost, pushing EUR/USD down, while weaker data might lead to a breakout 📉 Conservative...
The NZD/USD declined towards 0.5871 on Tuesday reflecting a loss of 0.46%, despite. The pair's movements are largely influenced by the market’s adjustments of their expectations and the delay of a rate cut by the Federal Reserve (Fed) by year-end. Rising Treasury yields are also applying downward pressure on the pair. On the data front, in March, Building Permits...
Echoing this sentiment, the ECB's Cipollone observed a rapid decline in inflation, expressing expectations for a return to the 2% path next year and attainment of the target by mid-2025. Should data in June and July confirm growing confidence in achieving the target, consideration would be given to easing some of the restrictive measures imposed in 2023....
In the bigger picture, price actions from 0.8332 medium term bottom as tentatively seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Further rise would be seen as long as 0.8727 support holds. But upside should be limited by 0.9241 resistance, at least on first attempt. However, decisive break of 0.9242 will argue that the...
Bitcoin halving is here, an event expected to raise the curtain on the next market cycle. There has been a lot of turbulence in the market of late. Events such as flows from exchange-traded funds (ETFs) and tensions in the Middle East between Iran and Israel have sent traders into their shells. However, there could be some relief in the market after Iranian...
In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Current fall from 1.1138 is seen as the third leg. While deeper decline is would be seen to 1.0447 and possibly below, Strong support should emerge from 61.8% retracement of 0.9534 to 1.1274 at 1.0199 to complete th
XAU/USD trades near $2,371 and the daily chart shows that the slide may continue. Technical indicators retreat from extreme overbought levels, suggesting the decline may continue. Still, a steeper slide remains out of the picture, as XAU/USD refuses to give up developing its moving averages above all Simple Moving Average (SMA) maintains its firmly bullish slope...
The GBP/JPY pushed into fresh multi-year highs on Thursday as the pair grinds towards the 195.00 handle. The Japanese Yen (JPY) continues to weaken across the broader FX market, prompting increasing rhetoric from the Bank of Japan (BoJ) regarding direct intervention in currency markets to shore up the beleaguered JPY. The BoJ is expected to discuss intervention...
AUD/CAD Long Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. AUD/NZD Short Minimum entry requirements: • 1H impulse down. • If 2 touch 15 min continuation, 5 min risk entry within it.
AUDCHF is bullish on its 1D technical outlook (RSI = 60.496, MACD = 0.002, ADX = 32.323) after a strong bounce and closing above the 1D MA500. The dominant Bullish Megaphone pattern made its previous HH on the 2.0 Fib extension and a new 1D MACD Bullish Cross has validated that it now sets course for the new HH. We target again the 2.0 Fib (TP = 0.61550) which is...
Regarding the Greenback, sellers appeared back in the market after US Q1 GDP figures came in short of expectations and quarterly inflation prints ticked higher, reigniting speculation that the Federal Reserve (Fed) might keep its restrictive stance for longer. Meanwhile, the daily advance in the Australian dollar was accompanied by further improvement in the risk...
Daily chart: GBPJPY is currently in the 194.762 -194.974 key resistance zone from a technical perspective. If the price does not break the 194.974 level, a bearish pattern will be activated. Consider selling in the red zone. >>GooD Luck 😊 ❤️ Like and subscribe to never miss a new idea!
Based on the 4-hour short-term chart of the FX:EURUSD currency pair, the price has been trending upwards from the 1.060 support zone. The price is currently trading above the EMA 60 and moving towards a supply zone. 🔹The current outlook is positive, with a potential for further upside movement towards the target zone of 1.077/1.080. ⏭An alternative scenario...
In the intricate dance of global currencies, the EUR/USD pair has recently found itself swaying to the tunes of central bank pronouncements and economic indicators. The past few days have been particularly eventful, as remarks from key figures like European Central Bank President Christine Lagarde and Federal Reserve Chairman Jerome Powell have reverberated...