Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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XAUUSD, “Gold vs US Dollar” Gold has formed a Hanging Man reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 1965.00. After testing the support level, the price could rebound and develop an ascending wave. However, the quotes might rise to 2025.00 without a […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, revealing a prevailing downtrend. The RSI has broken the support line. In this situation, the price is expected to test the 3/8 (0.6378) level, break it, and drop to the support at 2/8 (0.6286). The scenario can be cancelled […]
Shop Prices Fall in October There was better news for UK households today with the latest UK BRC retail monitor showing shop prices fell again last month. Retail prices dropped from 6.2% to 5.2% in October, in an encouraging sign that the cost-of-living crisis is finally starting to ease off in the UK. Today’s decline […]
TitleCHFJPY H4 | Rising into 50% Fibo resistance TypeBearish Reversal Preference: Price is rising towards the pivot point of 166.555 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 165.057 which is a […]
The Japanese yen paired with the US dollar is weakening again. The current USDJPY exchange rate stands at 150.11. The Bank of Japan left the interest rate unchanged at -0.10% per annum at today’s meeting, just as expected. At the same time, the central bank announced an increase in the flexibility of the yield curve […]
EURUSD, “Euro vs US Dollar” EURUSD found support at 1.0546 and completed a structure of growth to 1.0585. By now, a consolidation range has formed around this level. Breaking it upwards, the price achieved a local target of 1.0622. Today a link of correction to 1.0585 (a test from above) is expected, followed by another […]
China Manufacturing PMI Falls Copper prices are in the green today but are struggling to break back above local resistance on the back of weaker-than-forecast Chinese manufacturing data overnight. The Chinese manufacturing PMI for last month was seen falling back into negative territory at 49.5 down from 50.2 prior and expected. The data puts emphasis […]
TitleNZDJPY H4 | Heading into pullback resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 87.59 which is a pullback resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 86.845 which is a multi-swing-low support level. Alternative scenario:If price breaks above the […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has gained a foothold above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2170 is expected, followed by a decline to 1.1985. An additional signal confirming the […]
The primary currency pair experienced a minor rise on Tuesday. The current EURUSD exchange rate stands at 1.0591. The US dollar weakened against major currencies at the beginning of the week. Market participants are now primarily focused on the upcoming meeting of the US Federal Reserve System scheduled for Wednesday and the employment sector data […]
Small Tweaks From BOJ The Japanese Yen hit its lowest level against EUR today for the first time since 2008. The fresh rally in EURJPY comes in response to the latest BOJ meeting overnight. The bank once again held headline policy unchanged, reaffirming its commitment to easing, despite making a further adjustment to its YCC […]
Title USDCHF H4 | Bouncing Off Support? Type Bullish Bounce Preference: The price is falling toward our pivot point of 0.9000, which serves as a pullback support level. A bounce from this point could lead the price to rise to the 1st resistance at 0.9064, a pullback resistance. Alternative scenario: However, if the price breaks […]