Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
Disclaimer: Market Analysis is published for informational purposes only and should not be considered as investment advice, recommendations, or suggestions for performing any action with financial instruments. The analysis belongs to their respective authors and “Brokers Watch” is not responsible for their content.
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, which reveals the prevalence of an uptrend. The RSI is testing the support line. In this situation, the quotes are expected to rise above 7/8 (148.43), subsequently reaching the resistance level at 8/8 (150.00). The scenario could be cancelled […]
BTC Remains in Range Bitcoin remains firmly range-bound as we cross through the middle of the week. Following a rebound off the post-SEC lows, the leading crypto asset has failed to gain further bullish momentum and now sits in a congested block mid-way between 40345 – 45520. The price action reflects a market which is […]
TitlePotential Resistance at 61.8% Fibonacci Retracement TypeBearish Reversal Preference:Price could rise towards the pivot point of 0.65586 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64671 which is a pullback support level. Alternative […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Harami reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1.3555. Next, the price might have a chance for a breakout of the level and further development of the uptrend. However, the […]
EURUSD, “Euro vs US Dollar” EURUSD is correcting after a rebound from the lower boundary of the descending channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Kijun-Sen line at 1.0795 is expected, followed by a decline to 1.0615. An additional signal confirming the decline could […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 2045.00. Upon testing the resistance, the price could break it and continue developing the uptrend. However, the quotes might pull back to 2015.50 before rising. […]
The primary currency pair halted its decline on Tuesday but appears weak. The current EURUSD exchange rate stands at 1.0744. The euro is currently at its lowest point since 8 December of the previous year. The market is still absorbing information received earlier from the US Federal Reserve. This pertains to the comments made by […]
FTSE Stuck in Range The FTSE remains within a tight block of consolidation this week as the recent range persists for now. The index attempted a breakout higher earlier today but met selling resistance into last week’s highs. Dovish comments from BOE chief economist Pill yesterday are certainly seen as favourable for the index though […]
The economic tale of two continents persisted through the final quarter of 2023, with the United States outpacing the euro area yet again. According to recent data, the US economy expanded by 0.8% quarter-on-quarter, while economic activity stagnated in the euro area. This divergence brings the 2023 GDP growth rate to 2.5% in the US […]
The Australian dollar has paused its decline against the US dollar. The current AUDUSD exchange rate stands at 0.6500. Following the Reserve Bank of Australia’s meeting, the AUD experienced a slight uptick, but this did not alter the overall picture: the quotes are hovering near eleven-week lows. The interest rate remains at 4.35% per annum, […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, which reveals the prevalence of a downtrend. However, the RSI has formed a convergence, which is a signal for a possible price rise. As a result, the quotes should be expected to rise above 3/8 (0.6530), subsequently reaching the […]
Pound Breaks Down GBPUSD is holding for now at the foot of yesterday’s losses following dovish commentary from BOE chief economist Huw Pill. The BOE policymaker told reporters that the bank is on course to cut rates this year, provided inflation continues to fall. However, there was a slight dovish twist in the commentary as […]