GBP/USD is testing the waters within a rising channel, showing some vulnerability. Despite this, the higher than expected UK CPI last week has lent some strength to the pair. Technical analysis: The pair has descended from the upper channel line and is now approaching the lower boundary, currently finding interim support near the 1.2710 level. The upcoming GBP...
Since our last GBP/JPY analysis, the pair has demonstrated significant bullish behavior, maintaining levels above the important psychological threshold of 187.00. The higher than expected GBP CPI last week gave the pair a boost, GBP/JPY has remained resilient, indicating persistent bullish sentiment. Technical analysis : GBP/JPY is now experiencing a pullback...
Following our recent analysis, Gold has shown signs of a bullish shift in momentum, quickly recovering from a dip despite the U.S. CPI coming in above expectations. Today's focus shifts to existing home sales data, which may influence Gold's trajectory. Technical analysis: Gold is currently recovering from its downward push to the $2000 mark after not being...
Building on the previous session's momentum, EUR/USD continues to showcase some weakness. Despite a higher Euro CPI, consistent with expectations, and a rise in the U.S. CPI last week, the pair remains weak, hinting at bearish sentiment in the market. Technical analysis: The pair has broken the supporting trendline it was struggling to hold during our last...
After the previous session's analysis, USD/JPY has sustained its upward trajectory, showcasing a bullish stance with a higher-than-expected U.S. CPI. The pair's rise suggests a strong bullish sentiment as it tests the major resistance level. Technical analysis: USD/JPY's advancement is characterized by a newly formed bullish channel, underscoring the pair's...
The GBP/USD pair has experienced a notable downturn during the last trading session, diverging from its previously bullish path. This movement comes in the wake of the U.S. CPI data coming in higher than expected, which has generally strengthened the USD across the board. Technical analysis: The pair broke through the ascending support trendline, indicating a...
In light of the last session's analysis, Gold has displayed resilience, with prices stabilizing despite a higher than expected U.S. CPI which typically would strengthen the USD and pressure Gold prices. Instead, we see Gold maintaining its ground, indicative of underlying strength in the commodity market. Technical analysis: The chart shows Gold oscillating...
As we continue to follow EUR/USD, we closed some positions in profit as the pair is in a consolidation phase. The pair is currently trading around 1.096, trying to break that minor support. As long as the price is following its bullish trend line on the higher timeframes, it remains bullish although it is looking pretty weak with low volume. Technical...
In the recent market sessions, GBP/JPY has shown a robust upward movement, signaling a bullish trend as it climbed above key resistance levels. The pair's strength is noteworthy, particularly in the context of the current economic landscape. Technical analysis : GBP/JPY's momentum is evident as it continues to hold above the significant 185.00 psychological...
Following last week's weakness, GBP/USD is now exhibiting a consolidation pattern, hovering around key levels as market participants evaluate their positions. The pair has been oscillating between the resistance at 1.2620 and support at 1.2820 for quite some time now. Technical Insights: The currency pair remains locked within a tight range between 1.2700 and...
Gold's recent price action reflects a market in a tug of war, with technical indicators painting a cautious picture. The CFDs on Gold chart reveals a struggle to maintain ground above the $2,020 level, a possible pivot point. Technical analysis: The precious metal is currently testing the waters of the lower boundaries of its descending channel, with a short-term...
USD/JPY Market Sentiment & Technical Forecast In our last analysis, we showed how the USD/JPY pair presented a bearish narrative, continuously trading within a descending channel pattern. The crucial moment came when the price broke out of that channel and moved to the upside, retesting its last lower highs at 143.00 and 144.00, retesting and establishing them as...
As we continue to hold some of our EUR/USD positions, we entered a few new positions on the pair. Recent sessions have seen the currency touching the 1.090 support, a 0.618 Fibonacci retracement level from its high, suggesting a potential bullish reversal in the making as this whole week it has been moving downwards making a correction. Technical Landscape: ...
The GBP/USD pair is showing weakness. As USD buyers pushed the dollar higher at the beginning of the new year, GU started falling short. Technical Insights: The cable has been following its supporting trendline from 1.261 up to 1.283, where it reached its peak and rejected the resistance. It made a clear break under this trendline and continued down to its...
Last week we have been doing some scalping on gold, we traded only on the 15 minute timeframe. Since the last analysis we did, gold moved up just as expected and predicted in our analysis and on our TG. We exited our trades in profit. Now, we are looking at the 15MIN chart of gold. Technical analysis: The price was moving in a downwards spiral, through a...
**USD/JPY Market Sentiment & Technical Forecast** In our recent analysis, the USD/JPY pair presents a bearish narrative, continuously trading within a descending channel pattern. The crucial moment came when the price breached below the 146.500 support level, retesting and establishing it as a new resistance, which is a significant indication of the pair's...
As we continue to monitor EUR/USD, the pair's movements reflect a cautious optimism. Recent sessions have seen the currency touching the 1.0930 resistance, a Fibonacci retracement level from its high, suggesting a potential bullish reversal in the making as this whole week it has been moving downwards. Technical Landscape: EUR/USD's current trajectory is testing...
The GBP/USD pair is displaying resilience. With the Federal Reserve's recent halt in rate hikes, the pair benefits from the ensuing USD softness. Technical Insights: The cable has been adhering to support around the 1.2680 region, with an eye on challenging the descending trendline resistance near 1.2720. A clear break above this trendline is critical for the...