DNP-FX

DNP-FX

The Chicago Mercantile Exchange's Commitments of Traders (COT) report for the week ending November 14, 2023, shows that there are signs of weakness for the British pound (GBP). Non-commercial traders, which are typically hedge funds and other large institutional investors, reduced their long positions in GBPZAR by 4,735 contracts. This was the largest weekly...

DNP-FX

The NZDCAD has been in a bearish trend since December 2022, forming a descending resistance trendline. The price is currently touching this resistance. Possible Scenario 1: Breakout to the upside If the price breaks above the resistance trendline, it could signal a reversal to the upside. This would be a bullish signal, and traders could look to buy NZDCAD. ...

DNP-FX

EURCHF rate has been in a bearish trend since March 2021, forming a descending trendline resistance. This week, the pair breakout of this trendline, which had been in place since the start of the 37-month decline. This technical development suggests that the EURCHF could be on the verge of a long-term trend reversal from bearish to bullish.

DNP-FX

In 2023, the RBNZ raised interest rates several times in an effort to combat inflation. This led to an increase in the value of the NZD, as investors sought higher returns in New Zealand. Strong economic growth in New Zealand can lead to an increase in demand for the NZD, as businesses and investors look to invest in the country. New Zealand is a major exporter of...

DNP-FX

EUR/JPY is currently trading at 163.1, and there are a number of factors that suggest that the pair could continue to move higher in the near term. First, the ZEW Economic Sentiment Index for Germany is expected to improve from -1.1 to 5. This would be a significant improvement, and it would suggest that the German economy is on track to continue to grow in the...

DNP-FX

Real interest rate is the interest rate adjusted for inflation. Nominal interest rate is the reported rate, while real interest rate is the actual rate that the borrower receives after accounting for inflation. The formula for calculating real interest rate is as follows: Real interest rate = Nominal interest rate - Inflation rate For example, if the nominal...

DNP-FX

Based on the Daily timeframe for GBPCHF, a clear technical analysis reveals a notable development. The previous support trendline has experienced a downside breakout, now functioning as a resistance zone. Currently, the price is approaching this trendline, showcasing a retest scenario. There's a potential for a bounce off this resistance area. This probability is...

DNP-FX

CADCHF on the daily timeframe reveals significant insights into bullish potential market movements. The chart exhibits a prominent trendline acting as both support and resistance. The price has successfully breakout above the resistance zone. However, a subsequent rebond suggests the possibility of a retest, as indicated by the blue arrow. In this scenario, the...

DNP-FX

The NZDCAD pair on the daily chart displays a prominent trendline acting as both support and resistance. Currently, the price is in close proximity to the resistance area, and traders may consider placing a sell stop order near blue diagonal square area. This technical approach is supported by observations of the stochastic indicator, which has exhibited a...

DNP-FX

The AUDNZD pair on the weekly chart exhibits a bullish trend, characterized by an ascending trendline serving as a strong support area. The trendline has proven its efficacy by facilitating price rebounds on five occasions, marked by blue dots. In the latest candlestick pattern, the price has formed a three black crows pattern, highlighted within a yellow box....

DNP-FX

In the current chart of the EURGBP pair, a prolonged period of consolidation within the confines of a falling wedge pattern has been observed since October 2022. The falling wedge suggests a bullish trend continuation. Falling Wedge Pattern Analysis: The falling wedge pattern is characterized by converging trendlines that slope downward. This pattern indicates...

DNP-FX

I observe a consistent bullish channel that has been forming since September 2022. Within this broader bullish trend, there are notable minor trends exhibiting various patterns. The two most recent instances include the formation of a bearish channel and prior to that, a unfilled order or rectangle pattern. 1. Approach to Bullish Channel Support The current...

DNP-FX

In technical analysis, a "rising wedge" is a pattern that forms when the upper and lower trendlines converge, creating a wedge shape. This pattern typically signifies a potential reversal in the price movement. To identify a rising wedge, look for a minimum of 5 touchpoints on the trendlines. In the example chart of GBPCAD on the daily timeframe, you can see...

DNP-FX Updated 

Based on the weekly chart analysis, Pepsico Inc. ( NASDAQ:PEP ) has been on an overall uptrend, with rising prices supported by observations from the stochastic oscillator. The price has formed a rising wedge pattern. However, it is essential to note that the price has already breakout of the resistance area within the rising wedge pattern, but there is still a...

DNP-FX

GBPUSD pair has been on an upward trend since the end of 2022, as indicated by the rising trendline. This trendline acts as a support line, where prices have bounced higher. Since March, a rising wedge pattern has formed, represented by the blue area on the chart. A rising wedge pattern typically signals a potential reversal in the trend. In this case, there was a...

DNP-FX Updated 

The Swedish economy will not shrink as much as previously expected, and the level of unemployment will stay relatively steady, according to a government agency. However, high inflation and higher interest rates have had a negative impact on Swedish households, leading to a significant decline in housing construction. This, along with a slowdown in exports, will...

DNP-FX

May Inflation Data Release to Heighten Expectations of Rate Hike Next Tuesday, the United States is set to unveil its May inflation figures, impacting the Federal Reserve's upcoming monetary policy decision. Market forecasts anticipate a year-on-year increase of 4.2% in the Consumer Price Index (CPI), while the core annual CPI is expected to rise to 5.6%,...

DNP-FX

On the daily timeframe, the price of USDMXN is displaying a descending channel pattern. This pattern consists of a series of lower highs and lower lows, forming a channel with a downward slope. Currently, the price is within the descending channel pattern and approaching the support level. Given the characteristics of a descending channel pattern, there is a...