Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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After shedding 4% last week, greenback was offered support near the 106 level on DXY in the first half of this week and eventually rallied on Thursday: The rally was likely driven by US October retail sales report. Headline reading beat estimates (+1.3% MoM), core sales also rose faster than expected (+0.9% MoM). The solid […]
Oil Traders Increase Longs The latest CFTC COT institutional positioning data shows that oil traders increased their net long positions last week, taking the total upside position to 274k contracts from 254k contracts prior. With this increase, oil upside exposure is now at its highest level since the first week of July. Disappointingly for bulls, […]
The British pound against the US dollar is aiming up high. The current quote is 1.1910. Sky-rocketing of British inflation and verbal interventions of the Bank of England have given the pound a foothold for growth. No one knows whether for long or not, yet for now the GBP is growing. The British CPI in […]
The market major on Thursday starts growing again. The current quote is 1.0390. The evening statistics from the US turned out mixed. Retail sales volume in October grew by 1.3% m/m, while the forecast had been 0.9%. The growth amounted to 8.3% y/y. Industrial production in the US in October dropped by 0.1% m/m upon […]
Biden Offers Reassurance Over China Perhaps the key takeaway from the G20 meetings so far has been the subtle scaling back of tensions between the US and China. Given the geopolitical tensions linked to the Russia-Ukraine conflict as well as the situation between China and Taiwan, this development has come at a good time and […]
The October US retail sales report beat expectations, monthly growth in nominal terms amounted to 1.3% against 1% forecast. Excluding volatile components (fuel, cars), growth amounted to 0.9% against 0.2% forecast. The dollar rallied on the news, but trimmed down gains later, as markets apparently priced in a recovery in risk appetite on a favorable […]
EURUSD, “Euro vs US Dollar” The currency pair continues developing a consolidation range around 1.0357. The main scenario suggests an escape from the range downwards to 1.0280. And with a breakaway of this level a pathway to 1.0175 will open. The goal is local. GBPUSD, “Great Britain Pound vs US Dollar” The currency pair continues […]
USDJPY, “US Dollar vs Japanese Yen” The currency pair is testing the Tenkan-Sen line of the indicator, going under the Ichimoku Cloud, which indicates a downtrend. A test of the Kijun-Sen line is expected at 139.95, followed by falling to 133.26. An additional signal confirming the decline will be a bounce off the upper border […]
Type: Bearish Momentum Key Levels:Resistance:671.75Pivot:661.50Support:632.50 Preferred Case:On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly head towards the support line at 632.50 where the 50% fibonacci line is located. Alternative […]
Type: Bullish Momentum Key Levels:Resistance:1.06680Pivot:1.01265Support:1.03965 Preferred Case:The current bias for 6E1! on the H4 chart is bullish . To add to this bias, the price is currently trading above the Ichimoku cloud and breaking the descending trendline, indicating a bullish market. If the bullish momentum continues, price may head towards the resistance at 1.06680, where […]
EURUSD, “Euro vs US Dollar” On H4, at the resistance level the pair has formed a Shooting Star reversal pattern. Currently, the pair may go by the signal in a correctional wave. The goal of the decline will be 1.0311. However, the price may still continue the uptrend with our correcting to the support level. […]
Technical & Trade View AUDUSD Bias: Bullish Above Bearish below .6650 .6760 Target Achieved, New Pattern Emerging Technicals Primary support is .6650 Primary upside objective is .6900 Next pattern confirmation, acceptance above .6775 Failure below .6620 opens a test of .6550 20 Day VWAP bullish , 5 Day VWAP bullish Today’s New York Cut Option […]