Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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TitleGBPJPY H4 | Potential bullish bounce TypeBullish Bounce Preference:The price is on a downtrend and could fall to the pivot point at 189.989, the pullback support that aligns closely with the 50% Fibonacci retracement. Price could bounce off the pivot and rise to the 1st resistance at 191.277, the swing-high resistance. Alternative scenario:Price could breakout […]
US Data Due The US Dollar continues to trade in a very tight range ahead of today’s US ISM services PMI. Price action in DXY has stagnated over the last week in response to a slew of weaker-than-forecast data which seems at odds with the Fed’s message over keeping rates in restrictive territory. A sharp […]
TitleGBPUSD H1 | Bearish reversal TypeBearish Drop Preference:Price is currently at the pivot point of 1.273 a swing-high resistance. A reverse from this level could lead the price to fall to 1st support at 1.2643, a pullback support level. Alternative scenario:If the price breaks above the pivot, it could rise to 1st resistance at 1.2672, […]
TitlePotential Bullish Bounce TypeBullish Bounce Preference:Price could fall towards the pivot point of 84.045 which is a pullback support that aligns with the 23.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price up to its 1st resistance at 84.955 which is a pullback resistance level. Alternative scenario:If price breaks […]
EURUSD, “Euro vs US Dollar” EURUSD is rising after a rebound from the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1.0820 is expected, followed by a rise to 1.0915. An additional signal confirming the […]
EURUSD, “Euro vs US Dollar” EURUSD quotes have broken the 200-day Moving Average on H4 and are currently above it, indicating the development of an uptrend. The RSI has broken the resistance line. As a result, in this situation, the 4/8 (1.0864) level is expected to break, with the price rising to the resistance at […]
The price of Ethereum is hitting the yearly maximum points again. The asset’s price might potentially rebound to the broken psychological level of 3000 and rise. Hence, it would be important to follow the candlestick formations to forecast the upcoming price movements. The price of gold rebounded from the broken downtrend and supporting zone and […]
TitleFalling to Pullback Support TypeBullish Bounce Preference:Price is falling towards the pivot point of 22.986 which is a pullback support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 23.241 which is a pullback resistance level. Alternative scenario: If price breaks below the pivot point, […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a decline wave, reaching 1.0799. Amid the news, the market received support at this level, creating upward momentum towards 1.0841. Today it is forming a consolidation range around the 1.0837 level, which could expand to 1.0850. Subsequently, the price might decline to 1.0837. Practically, a […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Harami reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be the 2065.00 level. Upon testing the support, the quotes might rebound from it and continue developing the uptrend. However, the price could rise to 2100.00 […]
The primary currency pair remains in equilibrium on Monday. The current EURUSD exchange rate stands at 1.0844. The USD’s position deteriorated earlier due to the release of weaker-than-expected statistics from the US. For example, industrial production declined in February, while employment levels at manufacturing facilities fell to a seven-month low. Construction spending also dropped in […]
The Australian dollar is depreciating against the US dollar. The current AUDUSD exchange rate stands at 0.6519. The Aussie had been rising for two days but then stumbled upon some not-really-important statistics. In January, the number of building permits in Australia dropped by 1.0% m/m, following a previous decline of 10.1% and against the forecasted […]