Reflecting on the prior session, GBP/JPY's price action within a defined range has showcased a market in equilibrium, yet the undercurrents of fundamental shifts suggest a potential breakout. With the market sentiment leaning towards a bullish GBP, catalyzed by a significant shift in COT sentiment, there's anticipation for a stronger-than-expected PMI report from...
In the last trading session, we saw the USD/JPY exhibiting resilience, maintaining its position even amidst diverse economic data from the US. The pair's tenacity points to a market evaluating various economic indicators ahead of the this weeks’s economic reports. Technical analysis: The USD/JPY created clear higher lows and highs, retesting each level while...
As anticipated, gold is currently making a correction after price fell from 2032 to 1986. It broke the support around 2015 which is expected to be retested. The chart indicates that the gold market is at a key level, facing resistance near the $2015 mark. If gold sustains above this level, it could indicate a bullish breakout, potentially targeting the next...
In light of today's scheduled release of key economic reports such as core retail sales, initial jobless claims, and retail sales, the EUR/USD pair's movements will be closely watched. These data points will provide valuable insights into the U.S. economic landscape and could influence the Federal Reserve's monetary policy decisions in the upcoming...
As per the last market session's analysis, the GBP/USD has confirmed its bearish momentum following the recent CPI data release. With the CPI numbers coming out lower than expected, indicating subdued inflation, the market is bracing for an accelerated rate hike timeline. This has resulted in pronounced USD strength against the British Pound. Bank of England...
While the market is anticipating lower CPI numbers than in January, which doesn’t play well for USD’s bullish case, the American dollar has been on a tear. Federal Reserve's decision to maintain interest rates and not cut rates in March was apparently a clear sign for the market to lean towards a more bullish stance on the US Dollar in a complex economic...
The British Pound has been inside of a range for a rather long time, this week it finally broke out. The technical posture of GBP/USD shows that the pair is weakening as the dollar is gaining momentum, with the price currently retesting the key demand zone around the 1.26400 level. This previous support area has capped previous rallies and a decisive break below...
The USD/JPY pair has been trading with resilience, holding steady despite a series of mixed economic reports from the United States. The currency pair's behavior suggests a market that is currently weighing varied signals from economic indicators. Technical Analysis: USD/JPY is currently trying to break the significant resistance level at 148.70. The pair's break...
EUR/USD remains a focal point in the FX markets, especially post-FOMC announcement. The currency pair has been trading within a descending channel, indicating a short-term downtrend within a broader context of market anticipation regarding rate decisions on both sides of the Atlantic. Technical Analysis : EUR/USD is rebounding from the channel's support level...
As gold traders, we've been closely monitoring the consolidation pattern forming on the daily timeframe, denoted by a narrowing price channel that signifies indecision in the market. The precious metal has been hovering around the $2038 resistance level, unable to push through it. The technical structure on the chart suggests that gold is at a critical juncture....
Based on the latest Federal Reserve's decision to maintain interest rates and not cut rates in March, it's clear that the market is currently leaning towards a more bullish stance on the US Dollar in a complex economic landscape. The Federal Reserve's decision to hold interest rates steady at 5.5% aligns with the data, reflecting a cautious stance towards...
The British Pound has been navigating through a dynamic economic backdrop, particularly after the Bank of England's (BoE) recent statement. The technical posture of GBP/USD shows a currency pair at a crossroads, with the price currently pressing against a key supply zone around the 1.27800 level. This resistance area has capped previous rallies, and a decisive...
The recent Federal Reserve decision to hold interest rates steady, keeping it at the 5.5% level, marks a continuation of their cautious approach toward managing inflation and economic growth. The Fed’s statement suggested an openness to reducing rates if inflation continues its downward trajectory, but they made it clear that rate cuts are not imminent, waiting...
EUR/USD is testing crucial levels ahead of today's FOMC statement, having previously exhibited weakness. It has been moving slowly downwards inside of its descending channel. Despite rebounding from support at 1.080 and challenging resistance at 1.0900, the pair broke through a key trendline, underlining the market's bearish sentiment even against a backdrop of...
GJ has been moving inside of its channel between 187.3 and 188.5 for almost 3 trading weeks. Last week price broke out of its supporting trendline that been holding the price for quite some time and now. It has fallen through its strong support around 187.3, it is now in free fall as the next major support lies at 185.9. As the price is making this correction it...
Gold continues to captivate traders' attention, trading within a channel that reflects the market's anticipation of key upcoming U.S. economic reports. The precious metal's price action has been notably stable, with resistance and support levels clearly defined within this channel. Technical analysis: Gold is currently testing resistance near $2038, having...
USD/JPY has displayed a resilient character in the face of recent economic events. Despite a mix of economic data from the U.S. with positive new home sales and GDP, but negative initial jobless claims and core durable goods orders, the pair remains within a consolidation phase. Technical analysis: USD/JPY has been trading below a key resistance level near...
The GBP/USD pair has showcased significant bullish momentum in the latest trading session, spurred by positive manufacturing and services PMI reports from the UK. The data exceeded market expectations, injecting optimism and driving the pair past recent resistance levels. Fundamental analysis : The robust PMI figures have highlighted underlying economic strength...