Market Analysis

EURUSD, “Euro vs US Dollar” The currency pair continues developing a consolidation range around 1.1242. Currently, the range has expanded upwards to 1.1275, and an impulse of decline to 1.1208 has formed. A link of growth to 1.1242 is expected today with a test from below. Next, a decline to 1.1200 might follow. And with […]

USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are under the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is nearing the resistance line. In these circumstances, a test of 3/8 (139.84) is expected, followed by a rebound from this level and a decline to the support level of 1/8 […]

Core CPI Rises The final eurozone CPI readings for June, released today, confirmed headline CPI at 5.5%, as expected. However, core CPI was once again seen rising slightly to 5.5% from 5.4% prior. Stickiness in inflation at elevated levels has been a major issue for the ECB and is keeping hawkish expectations entrenched. The ECB […]

TitleGBPUSD H4 | Bounce off support level? TypeBullish Bounce Preference: Price is falling to our pivot point of 1.28511 which is a pullback support level that aligns with 50% Fibo retracement. A bounce off from here, price could rally to 1st resistance at 1.3136. Alternative scenario: However, if price breaks below the pivot, it could […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting after an aggressive rise. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.2945 is expected, followed by a rise to 1.3185. An additional signal confirming the rise will be a rebound […]

XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument is going by the reversal signal in a corrective wave. The pullback target might be 1965.00. Upon testing the support level, the price could get a chance to rebound from it and continue the uptrend. […]

Lllama Launch Drives Shares Higher Shares in Meta are trading higher ahead of the US open today as investors respond to the launch of the group’s ChatGPT and Bard rival, Llama. An AI competitor has been touted for a while. However, the new program was officially launched today, and comes on the back of the […]

Bitcoin Rally Stalls Despite the heavy sell-off in the Dollar last week, Bitcoin was unable to capitalise on the move and breakout above the 32185 resistance level.  Instead, we’ve seen BTC futures correcting around 8% lower as regulatory and macro concerns weigh on sentiment. Bitcoin prices had been driven sharply higher just a few weeks […]

Crude Caught Between Opposing Drivers Oil prices are looking a little more stable today on the back of two days of heavy selling. An uptick in USD alongside fresh fears over the health of the Chinese economy have combined to weigh on sentiment with crude futures correcting around 4% lower from recent highs. Crude prices […]

TitleXAUUSD H4 | Bearish Reversal? TypeBearish Reversal Preference:Price is at our pivot point of 1962 which is a multi swing high resistance. A reverse from here, price could fall to 1st support level at 1951 which is a pullback support level, Alternative scenario:However, if price breaks above the pivot, it could rally to 1st resistance […]

The Australian dollar stopped declining against the US dollar. The current AUDUSD quote is 0.6829. The minutes of the last meeting of the Reserve Bank of Australia did not provide any clues. The monetary policy is currently restrictive, and the Central Bank is ready to continue it for as long as it takes. The Reserve […]

The major currency pair has not lost momentum by Tuesday and keeps ascending. The current EURUSD quote is 1.1250. The US dollar remains weak; the problem is in the expectations concerning the interest rate. In one way or another, market talks are mostly concentrated on the credit costs in the US and the Eurozone as […]