During the early Asian session on Wednesday, the GBP/JPY pair grapples with selling pressure, hovering around the 190.000 mark. The price action reveals a swing reversal pattern, notably around the 61.8% to 78.6% Fibonacci levels following a double top formation. This sets the stage for a reversal swing trading strategy. Economically, all eyes are on the Federal...
USD/JPY has taken center stage as it enters a bullish consolidation phase on Monday, treading cautiously just below its recent peak against its American counterpart, recorded in early February. This movement comes amidst intriguing reports circulating over the weekend, hinting at a potential paradigm shift in the Bank of Japan's (BoJ) policy landscape. Speculation...
The Euro faced downward pressure against the US Dollar as investors awaited the Federal Open Market Committee (FOMC) monetary policy decision. Trading around the 1.0872 mark on Monday, we have shifted our attention to the 1.08400 level, where potential demand could drive price growth. This area aligns with the 50% Fibonacci level and sits just above the 200 Moving...
In Monday's Asian session, the EUR/JPY pair maintains a positive stance near 162.55, trading with strength below the resistance zone of 162.00. This uptrend is fueled by investor optimism surrounding the potential shift in the Bank of Japan's (BoJ) monetary policies, expected to occur in March or April. The BoJ's upcoming interest rate decision, scheduled for...
In the H4 timeframe, US Crude Oil prices started the week with a bearish candle, contrasting with the strong gains seen in the previous week. This bearish sentiment seems to be influenced by multiple factors, including technical indicators such as the 61.8% Fibonacci level and overbought stochastic conditions, particularly around the $81.50 mark. The recent...
As GBP/USD faces continued downward pressure, the pair finds itself hovering around 1.2745 in Friday's session, with signs pointing to a potential continuation of selling momentum. Amidst this backdrop, traders are closely monitoring key technical levels and upcoming economic data for insights into future price movements. Technical Analysis and Trading...
Amidst the midweek market dynamics, the Canadian dollar (CAD) has found some upward momentum, positioning itself favorably against the US dollar (USD). This shift comes as investors eagerly anticipate the release of crucial economic data from the United States, particularly the Producer Price Index (PPI) and Retail Sales figures scheduled for Thursday. The USD,...
The Japanese Yen experienced a modest recovery from its one-week low against the US Dollar on Friday, hovering near the daily peak as the European session approaches. Investors are eyeing specific price levels for potential sell positions, as the currency nears key supply areas where a reversal may occur. Additionally, the 61.8% Fibonacci level is attracting...
EUR/USD encountered resistance following an initial bullish surge on Wednesday, subsequently retreating slightly below the 1.09450 level in Thursday's European morning session. The price action indicates a potential reversal, with the currency pair trading within a supply area and the 61.8% Fibonacci level suggesting a bearish setup. Additionally, a sell limit has...
In the Tuesday London opening session, the GBP/USD pair experienced a downward movement, slipping from 1.2890 to 1.2800 as market sentiment shifted with reduced rate cut expectations from the Bank of England (BoE). Following a touch of the 1.2900 area, the price exhibited signs of reversal, with the RSI indicator indicating a departure from overbought conditions,...
In the early Asian session on Monday, the price of gold (XAU/USD) continued its upward rally, surpassing the $2,195 mark. However, as the day progresses, the price appears to be consolidating within a sideways range on lower timeframes, hinting at a potential retracement. Several factors contribute to the current gold market dynamics. The prospect of the Federal...
In 2022, Meta Platforms faced turbulent market conditions amid doubts surrounding CEO Mark Zuckerberg's metaverse ambitions, resulting in a significant 64% decline in share prices. However, the company's trajectory has undergone a remarkable transformation since hitting rock bottom, with shares soaring by 321% since the close of 2022. Despite this impressive...
Last Friday, EUR/USD reached its highest level since early January, climbing above 1.0983 before reversing course during the American session to close the day with minor losses. As Monday's morning session unfolds, the price action is characterized by an Inside bar pattern on the H4 timeframe, indicating a period of consolidation as traders await a breakout in...
Anticipation is mounting within the cryptocurrency industry as the possibility of a spot exchange-traded fund (ETF) for Ethereum looms on the horizon, mirroring Bitcoin's trajectory. With several Wall Street investment firms vying for approval from the Securities and Exchange Commission (SEC), the potential decision, expected by May 23, has stirred optimism among...
Amid the bustling European trading session on Tuesday, the EUR/JPY cross finds itself grappling with a downward shift, slipping beneath the mid-163.22s. This move follows closely on the heels of the Tokyo Consumer Price Index (CPI) report for February, which has ignited speculations about an impending shift in the Bank of Japan's (BoJ) interest rate policy. The...
As investors gear up for this week's consumer and producer price data, Nasdaq ended Monday's session with slight declines, fueling anticipation regarding the Federal Reserve's potential interest rate adjustments in the upcoming months. Technically, Nasdaq exhibited a double top formation around the 18400 level, accompanied by RSI indicator divergence. Analysts...
During Monday's trading session, the WTI oil price commenced a decline, hovering around $77.35, following a bullish candle that countered three consecutive negative days. Market analysts suggest that the price may experience a pullback at the resistance and supply area indicated on the chart (highlighted in the red rectangle). This anticipated pullback is...
The USD/CHF pair is facing resistance around the 0.8830 mark, struggling to regain momentum after a retreat from nearly reaching 0.8900, primarily attributed to encountering a double top formation at 0.88850. This downward movement in the pair is underpinned by the weakened US Dollar (USD) and declining US Treasury bond yields. Market participants are eagerly...