Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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GBPUSD, “Great Britain Pound vs US Dollar” The currency pair is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which indicates prevalence of an uptrend. A test of the upper border of the Cloud at 1.2145 is expected, followed by growth to 1.2640. An additional signal confirming the […]
American stock index S&P500 broke the uptrend and got back to it. Currently, the asset is trying to pull from the broken trendline. However, the index will have to break the level of 3930 first. After that, it might potentially hit the level of 3600. So, let’s wait and see what is going to happen […]
Metals Markets Await US CPI & Fed Following the rallies we’ve seen over the last month or so, both gold and metal look hungry to break out here. Both metals have seen choppier action in recent weeks though have still been grinding higher amidst a broadly lower US Dollar. The key decider this week will […]
The BTC failed to keep balance and on Monday dropped to 16,934 USD. The second attempt in a row to rise above the intermediate support level of 17,200 USD failed. The market stepped back to the comfortable consolidation area. Now the support levels of 16,600 USD and 16,300 USD turn out working. If they are […]
On Monday, the British pound against the US dollar is decreasing a bit. The current quote is 1.2240. Nonetheless, the pound looks stable even with the domestic events and news. Morning statistics from Great Britain demonstrated that industrial production in October dropped by 2.3% y/y, which turned out better than the forecast of 2.8% and […]
GDP Rises on Month, Dips on Quarter The latest UK GDP data this morning paints a bleak picture ahead of the BOE meeting on Thursday. At first glance, the 0.5% rise in October looks promising, marking an uptick from the prior month’s -0.6% reading and a beat on the 0.3% the market was looking for. […]
EURJPY Pattern Play EURJPY price action is looking very interesting here ahead of the ECB meeting this week. The pair has been trading higher this year, underpinned by the rising trend line from the March lows. Similarly to what we saw over June – September, price has recently been correcting lower within a bear channel. […]
Chinese currency has risen significantly over the past few days after the government announced a further easing of social distancing measures and travel curbs. However, the rally may be at its initial stages as upside surprises in economic data will likely emerge with a lag in the coming months. Renminbi could strengthen even further against […]
The past week featured quiet volatility on FX and equity markets. The key gauge of US equity’s performance, the S&P 500, oscillated in a relatively narrow range (4050-3930) and is likely to end the week in the red. The price tested the 200-day moving average from the bottom up, but could not move much higher […]
Technical Trade Set Ups For Gold, USDJPY & AUDCAD Source: Tickmill
PPI In Focus Ahead of the November US CPI release next week and of course, the December FOMC, today’s US PPI release will be closely watched. The reading will be interpreted as an indicator of how CPI is likely to print next week with a strong reading raising the chances of a bounce back in […]
Type: Bullish Rise Key Levels:Resistance:2023.0Pivot:1945.0Support:1808.5 Preferred Case:On the H4 chart, we have a bullish bias. To add confluence to this, price is above the Ichimoku cloud which indicates a bullish market. If this bullish momentum continues, expect price to possibly break the pivot at 1945.0, where the 50% Fibonacci line is before heading towards the […]