Gold is exhibiting bullish behavior as it maintains its ascent above the supportive trendline. Currently, it's challenging the resistance zone around $2055, which if broken, could suggest further upside. Technical View: Gold's price is pressing against a key resistance, with consistent higher lows underpinning its bullish trend. The recent peak near $2055 is the...
As we review the market dynamics, USD/JPY has demonstrated a significant bearish trend, reinforced by recent economic developments. The chart exhibits a steady decline, indicating strong selling pressure. Technical analysis: The USD/JPY pair has breached key support levels, currently navigating below the 141.400 mark. The consolidation box, highlighted on the...
The EUR/USD is demonstrating bullish momentum as it ascends along its newly created ascending support line, indicating a robust recovery. The pair is facing resistance near 1.0940, yet the underlying strength derived from the Fed's recent pause on rate hikes should keet the uptrend intact. Technical Analysis: Recent price action has seen EUR/USD challenging the...
Post-Fed reflections find GBP/USD at a technical crossroads, having broken past a descending trendline, now testing it as potential support around the 1.261 zone. The pair's reaction to this level amid the USD's post-decision dip could set the tone for upcoming sessions. Technical analysis: The cables been creating lower lows and high for some time following its...
After the Fed maintained rates, gold's response was to stabilize near the $2037.50 Fibonacci level, showing resilience. This pause in rate hikes, coupled with no immediate follow-through on the bearish break, presents a technical conundrum. Technical Analysis: Gold's failure to sustain below the $2037.50 level could indicate underlying bullish sentiment. If gold...
In the wake of the Fed's rate decision to hold steady, EUR/USD is showcasing renewed bullish potential, mirroring the resilience seen in the GBP/USD trend. The pair's steadfast bounce from the 1.0755 support, a nexus of Fibonacci significance, suggests an underlying bullish momentum. Technical Analysis: The EUR/USD is currently challenging the 1.0910 resistance...
Current dynamics in GBP/JPY show a decisive moment at the key downtrend line. The struggle at this level underlines the pair's recent bearish momentum. A push beyond the 184.5 resistance could usher in a bullish phase, but without such a move, the outlook remains weighted to the downside. Technical Analysis: The struggle below the trendline suggests caution, with...
As noted in our latest review, USD/JPY is a very bearish reading as it still moves inside of its descending channel. The pair broke its former support at 146.500, retested it and confirmed it as a resistance level which is crucial for this pair. A convincing surge above this level would mark a bullish transition, possibly extending towards the 149.000 resistance,...
As evaluated in the prior market analysis, GBP/USD exhibits enduring bullish trends, buoyed by a weaker USD amid subdued inflationary pressures. Technical Analysis: GBP/USD has broken the pivotal support at 1.261, now turned resistance. The pair's trajectory aligns perfectly with the 0.618 Fibonacci level, suggesting a robust uptrend. Eyes are set on surpassing...
As evaluated in our previous session, the EUR/USD is exhibiting signs of a bullish resurgence, echoing the GBP/USD's trend, driven by a weakening USD after the Fed’s pause in rate hikes in response to softer CPI data. Technical analysis: EUR/USD's rebound off the 1.0755 level, a significant Fibonacci juncture, mirrors the GBP/USD's earlier support retest at...
USD/JPY Technical Analysis: Monitoring Momentum as Bears Take Control In light of recent market dynamics, the USD/JPY has seen a significant selloff, with bearish momentum taking the forefront after a period of consolidation. Technical Outlook The USD/JPY pair has recently broken below a key support level, suggesting further moves to the downside and...
EURUSD falling below its trend line and making a sharp correction this week. This might indicate a trend reversal and further downside momentum. As well as gold, other assets connected to USD have also taken a hit. Following Friday's speech, EURUSD has seen a turn in direction. It pulled back from its highs around 1.1, now trading back around 1.079 and targeting...
In the aftermath of Chairman Powell's dovish speech last Friday, gold has seen a notable pullback from its recent highs. The market's anticipation of a less aggressive monetary policy has led to a softened stance on the U.S. dollar, affecting commodities inversely. Technical Analysis: Gold's rally was halted, and prices sharply declined after testing the $2040...
As observed in the last session, the USD/JPY pair has shown bearish momentum, breaking through the key support zone near 148.00, indicating potential further weakness. Technical analysis: The ongoing bearish trend is validated by the Bollinger Bands, where price is lingering near the lower band, suggesting a continuation of the downtrend. The support zone around...
In the previous trading session, the GBP/USD pair displayed remarkable resilience, reinforcing the bullish trend observed. The currency pair capitalized on the USD’s weakness following the Federal Reserve's pause in rate hikes due to a softer CPI, fuelling bullish momentum for the Pound. Technical analysis: A technical breakout above the pivotal 1.264 resistance...
In the latest trading sessions, Gold has exemplified bullish momentum, persistently testing the resistance zone near the $2014 mark. Technical analysis: The ascending trend line has been supporting price action since the rally from around $1930, guiding the precious metal's ascent. The recent consolidation just below $2014 suggests a potential accumulation phase...
As analyzed during the last market session, the EUR/USD has reasserted its bullish character, with the Federal Reserve pausing rate hikes in light of a lower Consumer Price Index (CPI), we are pretty bullish on EUR/USD due to anticipated USD weakness.. Technical analysis: While the Dollar Index (DX) is recovering, presenting a technical selling opportunity, the...
As scrutinized in the previous session, GBP/USD has maintained a strong bullish trend, with the market sentiment leaning towards further strength due to the weakened USD post-Fed's decision to halt rate hikes amidst lower CPI figures. Technical analysis: The pair's recent break above the key resistance zone around 1.2559, now retesting as support, sets a positive...