Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Crypto Collapse Continues Bitcoin futures are extending losses today as the sell off from recent highs around the 31110 level continues to build. The crypto sector has been hit with negative news flow this week which has rocked investor sentiment. News of processing issues at Binance, the largest crypto exchange, has struck a sour note […]
UK Rates Hit 15yr Highs The British Pound came under heavy selling pressure yesterday as traders reacted to the latest rate adjustment from the BOE. The UK central bank hikes rates for a 12th consecutive meeting to highs of 4.5% from 4.25% prior. Additionally, the BOE signalled that with inflation still high and expected to […]
The British pound looks weaker against the US dollar on Friday. The GBPUSD pair is currently quoted at 1.2528. The Bank of England decided at its May meeting to raise the interest rate to 4.50% per annum from 4.25% previously. The decision was agreed by seven votes out of nine. The BoE commented that inflation […]
EURUSD, “Euro vs US Dollar” On H4, near the support level, the pair has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The corrective target could become 1.0965. However, the price might drop to 1.0890 and continue the downtrend without testing the resistance level. USDJPY, […]
Daily Market Outlook, May 12, 2023 Asian equities experienced mixed performance to close out the week, as a result of tepid earnings Stateside and lingering concerns over US regional banks, with several names hitting circuit breakers during US trading. The subdued performance in the United States, coupled with disappointing initial jobless claims, contributed to an […]
TitleES1! H4 | Approaching 78.6% Fibo resistance TypeBearish Reversal Preference:Price could approach the pivot point of 4179.09 and potentially reverse from here, we could see momentum carry price down to its 1st support of 4124.77. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 4205.94.. To discuss this trading […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of decline to 1.0900. Today the market is forming a consolidation range above this level. A structure of growth could develop to 1.0950, followed by a decline to 1.0892. If the price escapes the range upwards, , the potential for a correction to […]
USDJPY, “US Dollar vs Japanese Yen” On H4, USDJPY quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to keep growing to the nearest resistance at 7/8 (135.93). This scenario can be cancelled by a downward […]
TitleAUDUSD H4 | Falling to 61.8% Fibo support TypeBullish Bounce Preference:Price is approaching the pivot point of 0.6667 and could potentially reverse from here, we could see momentum carry price up to its 1st resistance of 0.67483. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 0.66394. To discuss […]
TitleUSDCHF H4 | broken above a symmetrical triangle TypeBullish bounce Preference:Price has just reversed from our pivot at 0.89026 which lines up with a 61.8% Fibonacci retracement. A reverse from here, price could push up to 1st resistance at 0.89475 which is multi swing high resistance Alternative scenario:However, if price breaks below the pivot, it […]
EURUSD, “Euro vs US Dollar” EURUSD has secured above the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.0955 is expected, followed by a decline to 1.0815. An additional signal confirming the decline will be a rebound from the upper border of […]
BTC has fallen to 26,323 USD by Friday. The weekly loss is currently 9.55%. So, the market has passed below important support at 26,500 USD. What’s next? Next, we should all be cautious because it seems that buyers have not put much effort into defending this support. Exchanges closed long positions in BTC at 21.6m […]