Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be 1.3620. Next, the price could break the resistance and continue the uptrend. However, the quotes could correct to 1.3500 before rising. AUDUSD, […]
TitleGBPUSD H4 | Reacting off Resistance level? TypeBearish Reversal Preference: Price has just reacted off our pivot point of 1.27233, which serves as an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.26179 , an overlap support level. Alternative scenario:However, if the price breaks […]
Gold Higher on Softer USD Gold prices are rising sharply ahead of the next round of key US data today. On the back of weaker-than-forecast JOLTS job opening, consumer confidence, services and manufacturing PMIs and now also ADP employment and prelim Q2 GDP, it’s safe to say that the market has firmly reigned in its […]
The major currency pair shows stability on Wednesday. The current EURUSD exchange rate stands at 1.0867. Yesterday’s release of the US Consumer Confidence Index (CCI) for August by the Conference Board was disappointing. The index dropped to 106.10 points from the previous 117.00 points. The forecast had implied a decrease to only 116.00 points. These […]
A batch of weaker-than-expected economic data from the United States yesterday and today has led to a significant inflow of investors back into Treasury bonds and reduced demand for the dollar. JOLTS reported that the number of job openings in July decreased to 8.8 million, indicating that there were approximately 1.5 open positions for every […]
Falling Dollar Supports Gold Gold prices were seen rallying more than 1% yesterday as softer-than-forecast US data weighed on the Dollar. US Consumer Confidence was seen falling to 106.1 from 114 prior, below the 116 the market was looking for. Additionally, the JOLTS job openings number was seen falling to 8.81 million, down from 9.17 […]
The BTC exchange rate climbed to 27,434 USD on Wednesday. The daily gain was 5.26%. The cryptocurrency’s value started appreciating last night after the market heard about Grayscale’s victory in court. The judicial authorities ruled in favour of Grayscale in the company’s case against the US Securities and Exchange Commission (SEC). The lawsuit was filed […]
The British pound paired with the US dollar is consolidating after recently experiencing weakness. The current GBPUSD exchange rate stands at 1.2630. First, the US dollar’s pressure on the pound has eased., allowing the GBP to restore some positions. Second, inflation data has shown that the Bank of England might not need to raise the […]
TitleSPX500USD H4 | Bearish reversal off pivot? TypeBearish Reversal Preference:Price has broken previous highs, creating several break of structures. This could mean that price could potentially head towards our pivot point at 4541.8. We can expect a bearish reversal from our pivot point, which is an overlap resistance, 78.6% fibo retracement and 161.8% fibo extension. […]
TitleEURUSD H4 | Bearish continuation Expected? TypeBullish Bounce Preference: Price has just fallen from our pivot point of 1.08376 which is an overlap resistance level. A reverse from here, price can fall to 1st support at 1.07763 Alternative scenario: However, if price breaks above the pivot, it could rise to 1st resistance at 1.09014 which […]
EURUSD, “Euro vs US Dollar” EURUSD got supported at the level of 1.0783 and performed a link of growth to 1.0836. At a certain point, the market formed a consolidation range around this level. Exiting the range upwards, the market continued the corrective wave to 1.8900. Today it is forming a link of decline to […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to rise above 6/8 (146.87) and continue growing to the resistance at 7/8 (148.43). The scenario can be […]