Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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The British pound sterling has stepped back from the three-month peak against the US dollar and continues its decline. The current GBPUSD exchange rate stands at 1.2643. The instrument rose to 1.2730 on 29 November but is now compelled to decline due to the stabilisation of the US dollar. Despite this movement, the pound, paired […]
EURUSD, “Euro vs US Dollar” EURUSD has found a foothold under the lower boundary of the bullish channel. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper boundary of the Cloud at 1.0920 is expected, followed by a decline to 1.0735. A signal confirming the decline will […]
TitleEURJPY H4 | Bearish reaction off pivot? TypeBearish Reversal Preference:Price could react to our pivot point at 161.52, which is a pullback resistance level. If price reacts bearishly, then we can expect price to fall to the 1st support at 160.67, which is an overlap support and at the 100% fibo projection. Alternative scenario:If price […]
OPEC in Focus Crude oil futures are hovering around the $78 mark today ahead of the OPEC+ meetings taking place later. The market has seen better trading over the last few days, taking advantage of a weaker US Dollar to recover some ground to the topside. Expectations of an extension (and possibly a deepening) of […]
The Dollar Index rose at the beginning of the European session, gaining about 0.3% in a short period, attempting to consolidate above the 103 level. The primary surge was driven by a decline in the Euro – EURUSD depreciated by approximately 0.5%. The pair is approaching the 1.09 level, having tested the 1.10 level yesterday […]
TitleGBP/USD day I Bearish reversal? TypeBearish Reversal Preference: The price is rising toward our pivot point of 1.2786, which serves as a multi-swing resistance level. A reverse from this point could lead the price to fall to the 1st support at 1.2637, a pullback support. Alternative scenario: However, if the price breaks above the pivot, […]
The main currency pair appears neutral on Thursday. The current EURUSD quote stands at 1.0970. Since yesterday, the currency market has successfully corrected its excessive overbought conditions. The US statistics turned out interesting. The GDP for Q3 in the second reading increased by 5.2% q/q, surpassing the forecasted 4.9% rise and the previous 2.1% increase. […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes and the RSI on H4 are in their oversold areas. A rebound from -1/8 (0.8728) is expected followed by a price rise to the resistance at 1/8 (0.8850). This scenario could be cancelled by a downward breakout of -1/8 (0.8728). In this case, the pair might drop […]
Title:EURGBP H4 | Bullish reversal off 161.8% fibo? TypeBullish Bounce Preference:Price could bounce off our pivot point at 0.8639, which is a multi-swing low support level, and at the 161.8% fibo extension. If price bounce off from our pivot point, price could rise towards the 1st resistance at 0.8660, which is an overlap resistance level. […]
Copper Stalling on Weak China Data On the back of the strong rally we’ve seen recently, copper prices are stalling on Thursday as traders digest the latest data weakness out of China. The October Manufacturing PMI was seen falling further into contractionary territory at 49.4 down from 49.5 last and below the 49.8 the market […]
EURUSD, “Euro vs US Dollar” EURUSD is forming a corrective structure to 1.0943. After the correction is over, a new growth structure to 1.1030 might develop. Next, a decline wave to 1.0850 could start. This is the first target. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has completed a decline link to 1.2664 and […]
The Japanese yen is solidifying its gains against the US dollar. The current USDJPY exchange rate stands at 147.13. A group of Asian currencies is consolidating against the US dollar today. However, they might strengthen during the day as US Treasury bond yields decline. Hawkish comments from some Federal Reserve policymakers fuelled the weakness of […]