The USDCAD currency pair represents the exchange rate between the US Dollar (USD) and the Canadian Dollar (CAD). When you mention a "divergence," you may be referring to a technical analysis concept. Divergence is a situation where the price of an asset and a technical indicator (e.g., RSI, MACD) move in opposite directions, suggesting a potential reversal or...
In the given scenario, XAUUSD is said to be rangebound between 1816 and 1831. This means that the price of XAUUSD is fluctuating within this specific range without any clear upward or downward trend. However, it is mentioned that the trend is down, which suggests that there is a higher probability of the price breaking below the range and continuing its downward...
USDCHF currency pair is currently experiencing an upward movement and is expected to continue its ascent after finding support at the level of 0.9140. You predict that it will rise to 0.92199. It's important to note that predicting currency movements with such precision can be challenging and subject to various factors. Support and resistance levels are commonly...
In order to analyze the potential opportunity to short the EURAUD currency pair, let's break down the given information: Current Price: The current price of EURAUD is 1.6578. This indicates that 1 Euro is equivalent to 1.6578 Australian Dollars. Resistance Level: The resistance level mentioned is 1.6645. This means that the price has faced rejection three times...
In the EURCAD Hour 1 chart, there is a down-channel breakout, indicating a potential shift in market direction. This breakout suggests that the market may retreat towards the support level near 1.4240 before potentially bouncing back up. A down channel is a technical pattern formed by connecting the lower highs and lower lows on the price chart. It indicates a...
The USD Index is a measure of the value of the US dollar relative to a basket of other major currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. When the USD Index breaks out of a channel, it means that the value of the US dollar is experiencing a significant move outside of its previous trading range. A...
USDCAD Trading Analysis: Down Channel and Potential Drop to 1.3383 Introduction: In this presentation, we will analyze the current trading situation of USDCAD, focusing on the down channel pattern and the major resistance level near 1.3530. Additionally, we will explore the Fibonacci 50 level and its significance in predicting a potential drop in the market,...
AUD/JPY remains on the defensive below 95.00 amid the cautious mood, all eyes on BoJ rate decision, the overall trend is Down so follow the Fibonacci level AUD/JPY remains on the defensive around 94.75 ahead of the BoJ key event. Australian Manufacturing PMI dropped to 48.2 from 49.6; Services PMI posted 50.5 in September vs. 47.8 prior. Japan’s National...
AUDCAD is trading down and now at resistance area so its good opportunity to short
Here's a breakdown of the information you provided: Currency Pair: NZD/USD (New Zealand Dollar/US Dollar). Chart Timeframe: One-hour chart. Price Action: The price of NZD/USD touched a resistance level and then retraced upward to reach a price of 0.5918. It's important to note that trading decisions should not be based solely on one data point or price movement....
Its a good probability of shorting this currency pair
Gold on resistance level and Hour 1, chart 200EMA down trending so the market gives correction 1915.00 level in US session.
market ok key support area on Monday morning, The Euro is stronger than the GBP, so it's a good chance for upward movement. target price is 0.8587.
EURUSD M15 chart, there is a good probability to buy with target Fibonacci level 261.8, 1.07447 target price.
GBPAUD H4 chart, Major support is 1.9465, if it is broken then the next target is 161.8 level of Fibonacci 1.9155
NZDUSD is moving up and it's challenging the key line so it's a good opportunity for up-side movement.
The EUR/JPY cross extended its upside for the third consecutive day in the Asian session on Monday. The cross currently trades around 158.35, gaining 0.17% on the day. At the Jackson Hole Symposium, European Central Bank (ECB) President Christine Lagarde stated that the battle against inflation is not yet won. She emphasized the importance of central banks...
GOLD REACHING WEEKLY RESISTANCE WITH A WEAK APPROACH. Gold is expected to fall from current market price. Resistance level of 2050$ will remain the key resistance for the market. Gold may test the levels of 1950$ in upcoming trading sessions.