Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
Disclaimer: Market Analysis is published for informational purposes only and should not be considered as investment advice, recommendations, or suggestions for performing any action with financial instruments. The analysis belongs to their respective authors and “Brokers Watch” is not responsible for their content.
Soft Data Weighing on USD The US Dollar remains muted as we move through into the back end of the week. Yesterday, advance Q1 GDP came in a touch below forecasts at 3.2% vs 3.3% expected. On the back of a run of weaker-than-forecast prints recently (retail sales, ISM services PMI, consumer confidence), the […]
The price of Bitcoin keeps renewing the many years’ maximum points. Currently, the price of this asset is testing the level of 60000. This might turn out to be a significant event. However, it is important to remember that the prices of cryptocurrencies can quickly fluctuate. The price of Bitcoin might potentially rebound to the […]
EURUSD, “Euro vs US Dollar” EURUSD is rising after a rebound from the support. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.0825 is expected, followed by a rise to 1.0925. An additional signal confirming the rise might be a rebound […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Shooting Star reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 1.3545. Next, the price might rebound from the support and extend the uptrend. However, the quotes could rise to 1.3635 without […]
Crypto Boom Helping Shares Shares in the leading global crypto-broker Coinbase are trading sharply higher this week as the ongoing surge in crypto prices drives up trading volumes and deposits. Coinbase shares suffered heavily over the crypto devaluation which took place across 2022. With the crypto market falling sharply from highs over that period, retail […]
TitleHeading into Resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 39,023.47 which is a pullback 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 38,460.30 which is a pullback support that aligns with the […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has corrected to 1.0845. Today the market is forming a consolidation range around 1.0836. With an escape from the range upwards, the correction might extend to 1.0853. With a downward escape, the potential for a decline to 1.0800 could open. And if this level also breaks, the […]
The primary currency pair is consolidating on Thursday. The current EURUSD exchange rate is standing at 1.0835. The market is conserving its strength as the most critical inflation component, which the US Federal Reserve pays attention to, is due to be released tonight. This is the Core PCE index. Given investors’ uncertainty about the timing […]
TitlePotential Bearish Reversal TypeBearish Reversal Preference:Price could rise towards the pivot point of 0.61197 which is an overlap resistance that aligns with the 23.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 0.60559 which is a swing-low support level. Alternative scenario:If price breaks […]
TitleApproaching Overlap Support TypeBullish Bounce Preference:Price is falling towards the pivot point of 0.87715 which is an overlap support that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.88329 which is a pullback resistance that aligns with […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be 2020.00. After testing the support, the price might break below it and maintain its downward trajectory. However, the quotes could correct to 2040.00 before falling. […]
EURUSD, “Euro vs US Dollar” The EURUSD currency pair extends a decline wave to 1.0830. Practically, a consolidation range continues developing around this level. With an upward escape from the range, the correction might extend to 1.0870. A downward escape could open the potential for a decline wave to 1.0790, from where the trend might […]