Following the recent market session, the GBP/USD pair is exhibiting signs of compression within a descending channel, facing headwinds as it tests crucial support levels. The upcoming Non-Farm Payrolls (NFP) and unemployment data release may provide further clarity on the direction of the USD, potentially influencing GBP/USD price dynamics. Technical analysis:...
Gold's pricing behavior in the most recent market session suggests a bullish stance, bolstered by positive economic indicators. Despite a higher-than-expected Consumer Price Index (CPI) and the Federal Reserve’s decision to hold off on rate cuts, the latest reports indicating a rise in revised consumer confidence, GDP, and home sales have contributed to investor...
As appraised during the last market session, gold’s position remains bullish, although the Federal Reserve announced that it won't be cutting rates soon amidst a higher-than-expected Consumer Price Index (CPI). The uncertainty brought by the higher-than-expected CPI and upcoming FOMC meeting adds a bullish undertone to the precious metal as investors seek...
In the most recent trading session, GBP/JPY has encountered resistance, potentially indicating a pause in its previous upward trend. The pair's price action seems to be reflecting broader market caution as investors digest disappointing consumer confidence data and anticipate upcoming economic reports including GDP, unemployment claims, home sales, and the Revised...
After the latest market session and subsequent FOMC meeting, where a dovish tone was perceived due to the announcement of future rate cuts, the U.S. Dollar Index (DXY) is demonstrating an interesting technical picture. While the CPI remains high, signaling continued inflation concerns, the DXY's response has been somewhat paradoxical, showing strength instead of...
In light of the last market session's revelations and the Federal Reserve's announcement of future rate cuts, albeit cautious in their application due to persistent inflation, the GBP/USD pair has displayed significant resilience. This robustness could be attributed to the anticipated USD weakness. Technical analysis: The GBP/USD has recently approached a...
The EUR/USD pair has been exhibiting a bearish pattern within a descending channel. Despite the Federal Reserve's decision to wait with the rate cuts and a higher than expected Consumer Price Index (CPI), the pair has yet to show a strong bullish reversal. Technical analysis: The EUR/USD pair recently rebounded off the lower boundary of the descending channel...
In the latest market session, the U.S. Dollar Index (DX) appears to be struggling to regain its footing after a period of decline. The recent rise in Consumer Price Index (CPI), hints at possible underlying USD weakness. Technical analysis: Currently, the DXY is exhibiting signs of a downtrend, capped by the resistance level near 103.00, as denoted by the red...
As scrutinized in the recent market activity, the GBP/USD pair has reasserted its upward trajectory, with economic indicators signaling a dampening strength of the USD. The pause in rate hikes and expected rate cuts by the Federal Reserve, influenced by the moderating Consumer Price Index (CPI) which will be released this week, augments our bullish stance on...
As the markets adjust to the unfolding economic landscape, gold has shattered previous records, establishing new benchmarks. The recent shift in market sentiment, spurred by the US potentially entering a phase of stagflation, has catapulted gold to new all-time highs. Moreover, with Bitcoin on the verge of charting an independent bullish course, the overall market...
Since the last trading session as price broke out of its bullish channel, EUR/USD has continued to exhibit bullish tendencies by consolidating between 1.08 and 1.087. Despite a temporary pause in Federal Reserve rate hikes, the Euro remains robust against the dollar, bolstered by lower CPI indications. Today's Powell speech will be very crucial for the...
The Dollar Index (DXY) is exhibiting signs of recuperation, suggesting a channel trading opportunity. The DXY's recovery is set against a backdrop of a consolidating EUR/USD, which has remained resilient above 1.108. Technical analysis: The Dollar Index is trading inside of a channel it created in the last 3 trading weeks. The DXY is challenging the 103.60...
The GBP/USD has showcased significant bullish momentum, trading inside of a bullish channel and reaching 1.27 resistance. The pair is now testing the key level around 1.262 as a retracement from the resistance, indicating potential for continued upward movement. Technical analysis: Although the price broke out and closed below the ascending channel, it is still...
As we gear into today's session with key economic data on the horizon, including PCE and unemployment claims, gold's technical structure is under scrutiny. The metal remains within a bullish channel but is facing immediate resistance around $2040. The market's reaction to today's economic releases will be crucial. Technical analysis: Gold's recent retest of the...
The USD/CHF pair has been consolidating within a bullish trend, hinting at the dollar's strength against a backdrop of a surging Dollar Index (DXY). This consolidation phase is depicted by the formation of a descending wedge pattern, typically indicative of a potential upward breakout. Today's focus is on the US GDP data release at 13:30 GMT. Despite the...
The DXY has displayed a contraction pattern, signaling uncertainty. Today's anticipated Consumer Confidence and Durable Goods Orders reports could inject volatility. Technical analysis: The DXY is navigating within a descending channel, hinting at a bearish sentiment. After it broke out of a bullish flag pattern, it pushed up to the major resistance of 105.00,...
Reflecting on the previous session, EUR/USD continues to show strength, with market conditions favoring the Euro over the dollar. The pair has successfully maintained support above 1.0800 and is now testing the resistance around 1.0860. Technical analysis: The pair is currently within a bullish channel that stretches from the major support at 1.072 to the...
In the latest session, GBP/USD's bullish run encountered a hurdle as PMI numbers reported today came in lower than expected. This data has tempered the optimism surrounding the Pound, which was previously bolstered by a positive shift in COT sentiment and expectations of robust PMI figures. Technical analysis: As expected in our last analysis, GBP turned bullish...