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” On H4, the currency pair has formed a Hanging Man reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decline target might be 1.3510. Next, the price could break the level and continue the downtrend. However, the quotes could correct to 1.3635 […]
EURUSD, “Euro vs US Dollar” The currency pair completed a wave of decline to 1.0635. Today the market has performed a correction to 1.0692. At the moment, a consolidation range is forming under this level. A breakout of the range downwards and further development of the wave to 1.0643 are expected. And if this level […]
Silver is undergoing correction right now. Currently, the asset is approaching the broken neckline of the double top located at the level of 24.75. Silver might potentially rebound from the broken level and drop to gain the required support at the level of 22.40. Oil has approached the supporting level of 71.50, forming the candle […]
TitleGBPUSD H1 | React off 61.8% TypeBullish Bounce Preference: Price has just bounced off our pivot point at 1.23724 which is a pullback support level that aligns with a 61.8% Fibonacci retracement. A reverse from here, price could rally to 1st resistance ar 1.24231 which is a pullback resistance level Alternative scenario:However, if price breaks […]
Iron Ore Gaps Lower We’re seeing plenty of volatility in the iron ore market on Wednesday following the release of the latest China economic data overnight. The manufacturing PMI was seen dropping further into negative territory last month at 48.8, down from 49.2 prior and below the 49.5 reading the market was looking for. Concerns […]
Tesla Trying to Breakout Shares in Tesla are trading a little lower ahead of the open today following a breakout move higher earlier in the week. Tesla shares started the week on a positive footing amidst encouraging signs that a debt ceiling deal will be done, preventing default on US debt. However, lingering concerns around […]
The British pound sterling remains under pressure against the US dollar. The current GBPUSD quote is 1.2385. Previously published statistics showed that business confidence in the UK dropped for the first time in three months in May. The Lloyds Bank Business Barometer reflected a decline of 28%. This is because higher inflation has deteriorated the […]
The Japanese yen has strengthened markedly against the US dollar. The current USDJPY quote is 139.39. The JPY rose on news of an emergency meeting of Japanese high-ranking monetary policy officials. The outcome of the meeting was neutral: Japan will watch currency market movements and react if deemed necessary. The monetary policymakers reacted rather due […]
CPI Still Not Falling Fast Enough The latest Australian inflation data overnight no doubt makes difficult reading for the RBA . Annual CPI was seen rising 6.8% last month, above the 6.4% the market was looking for. While a slight reduction from the prior month’s 7% reading, given the RBA’s insistence that it needs to […]
TitleEURUSD H4 | Retracement to 23.6% Fibo resistance TypeBearish Reversal Preference:Price could approach the pivot point of 1.07619 and potentially reverse from here; we could see momentum carry price own to its 1st support of 1.06688. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 1.08323. To discuss this […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of correction to the 1.0745 level. Today the market is forming a structure of another wave of decline. At the moment, a consolidation range has been formed around the 1.0703 level. A breakout downwards to the 1.0673 level is expected. Next, a technical […]
The BTC on Wednesday is balancing around 27,148 USD. While the technical trading picture of the BTC is favourable for a price increase, investors are clearly not ready to buy. This is probably due to the high correlation of the BTC with the S&P 500 index and Nasdaq indices. Markets are focused: today the House […]