Category: Technial Analysis
EURUSD on Monday remains cautious after sky-rocketing and correcting earlier. The current quote is 1.0980. The flow of statistics on Friday turned out, indeed, patchy. However, its components made the USD as relatively balanced as it can be. For example, retail sales in the US in March dropped 1% m/m instead of 0.4% forecast and […]
GBPUSD, “Great Britain Pound vs US Dollar” The pair is pushing off the lower border of the bullish channel. The instrument is going above the Ichimoku Cloud, which indicates the prevalence of an uptrend. A test of the lower border of the Cloud is expected at 1.2395, followed by growth to 1.2645. An additional signal […]
EURUSD, “Euro vs US Dollar” The currency pair has completed an impulse of decline to 1.0970. Today the market is forming a consolidation range above this level. With a breakout of the range downwards, a decline to 1.0933 could follow. After the price reaches this level, a link of correction to 1.1000 could develop. GBPUSD, […]
Metals Correct As USD Demand Returns Both gold and silver are starting the week just off recent highs following the correction lower we saw on Friday in response to fresh USD strength. The Dollar found fresh demand as better performance from big names in the US banking sector suggested room for the Fed to press […]
The currency pair EUR/USD has tested the upper boundary of the daily range, that is, the zone formed between the levels 1.1000 and 1.1030. The asset formed a bearish engulfing at the end of the last trading week. The price of the currency pair EUR/USD is likely to drop and gain the required support at […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, the currency pair has formed a Hammer reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The target for the correction might be 1.3395. Next, the price could rebound from this level and continue the downtrend. However, the price may drop […]
EURUSD, “Euro vs US Dollar” On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is testing the support line. In this situation, the price could rise above 2/8 (1.0986) and reach the resistance at 3/8 (1.1108). The scenario can be canceled by a rebound from […]
The chances of the Federal Reserve keeping its policy unchanged in May have increased after the release of US production inflation data for March. Overall production inflation unexpectedly turned negative in March: prices fell by 0.5% in a month, although it was forecasted that they would remain at the same level: The market enthusiastically received […]
The money management decision is taken to dictate the level of involvement within a market. The following step is the actual purchase or sale which sometimes can be the most difficult part of the whole process. To actually place a trade as to how and where to enter the market is a combination of technical […]
The labour market report for March left mixed feelings, as it did not confirm the slowdown in employment growth that seemed to be evident in a number of other reports (initial jobless claims, ISM in the service sector, JOLTS job openings, etc.). Therefore, it was expected that the US inflation report for March would clarify […]