Market Analysis

Daily Market Outlook, May 4, 2023 As widely expected the US Federal Reserve raised interest rates by 25bps at their meeting last night, in his press conference the Fed Chief Powell was reticent about the notion of any Fed rate cuts into the back of the year, Powell’s rhetoric during the press conference certainly hinted […]

USDCAD, “US Dollar vs Canadian Dollar” USDCAD has secured under the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.3530 is expected, followed by a decline to 1.3345. An additional signal confirming the decline will be a rebound from […]

EURUSD, “Euro vs US Dollar” The currency pair completed a declining wave to 1.0985. Today the market has performed a link of growth to 1.1044. A consolidation range is forming around this level at the moment. If the price escapes the range upwards, it may rise to 1.1077. If the range breaks downwards, the potential […]

Traders Brace For ECB Today’s ECB meeting holds the potential to create plenty of fireworks. On the back of the Fed signalling a pause along with yesterday’s .25% hike, the ECB is expected to push ahead with its own .25% hike. However, the bank is expected to retain a more hawkish tone than the Fed […]

The price of the currency pair EUR/USD keeps moving within the resistance area formed between the levels 1.1000 and 1.1075. Let’s observe when the asset price will exit this zone and make the next move. Bitcoin is undergoing correction towards the supporting level of 25200. It would be interesting to follow the price movements around […]

TitleGBPUSD H4 | Potential bounce off support TypeBullish Bounce Preference: Price is approaching our pivot point of 1.25417 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 1.25928. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 1.24969.. To discuss this […]

EURJPY Correction EURJPY is at a critical juncture ahead of the ECB meeting today. Following a breakout above the 148.37 level last week, price has since reversed from highs above 152 and is now retesting the breakout area. JPY has gained firmly over recent days amidst the downturn in risk appetite ahead of the FOMC […]

USDJPY, “US Dollar vs Japanese Yen” On H4, the quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI has reached the oversold area. In this situation, a rebound from 6/8 (134.37) is expected, followed by growth to the resistance at 7/8 (135.93). The scenario can be cancelled by a […]

EURUSD increased noticeably overnight, having good reasons for it. The current EURUSD quote is 1.1090. The US Federal Reserve System raised the rate by 25 base points to 5.25% per annum, which was not unexpected. The unusual part was the Fed’s signals: it seems that the cycle of interest rate hikes is coming to an […]

Oil Traders Cut Longs  The latest CFTC COT institutional positioning report shows that oil traders cut their net long positions last week. Bullish exposure was trimmed to 236k contracts from 244k contracts prior, putting an end to the recent run of increased upside positioning we’d seen. The recent sell off in oil has seen crude […]

TitleXAUUSD H4 | Bounce off 1st support level TypeBullish Bounce Preference:Price is approaching our pivot at 2032.969 which is a pullback  resistance level that lines up with 38.2% Fibonacci retracement. A bounce off from this level, price could rally to 1st resistance at 2045.629 which is an overlap resistance Alternative scenario:However, if price breaks below […]

EURUSD, “Euro vs US Dollar” The currency pair has formed a consolidation range around the level of 1.1040, and if the quotes escape the range upwards, the wave could continue to 1.1133. After reaching this level, a new declining wave to 1.1040 is expected. And if this level also breaks, the trend could continue to […]