Tag: Technical analysis

Crude oil prices have been on the rise after surpassing the crucial $80 resistance level, driven by various positive factors in the market. The decision by OPEC+ to extend voluntary output cuts, along with...

The US Dollar (USD) continues to show strength, with a potential test of the resistance at 162.00 on the horizon. If the USD manages to break above 162.00, the next level to keep an...

This week in the forex market, there are several key events and data releases to keep an eye on. On Monday, we have important data coming out of China, Switzerland, and the US, including...

GBPJPY has been on a winning streak, marking a new 16-year high at 203.57 after ten consecutive days of gains. While this positive momentum is evident in the market, indicators like the RSI and...

The US dollar continues to be supported by strong economic data, such as the recent US PMIs and Consumer Confidence report. This data helps keep interest rate expectations stable and supports risk sentiment, which...

The USD/JPY pair surged to a new multi-decade high above the 160 level on Wednesday, signaling a strong bullish momentum in the market. Despite concerns about potential intervention from Japanese authorities to support the...

USDJPY is currently trading below the critical 160 level with weak momentum. There are signs of overbought conditions, indicating that sellers may be waiting below the 158.35-159.00 range. The possibility of BoJ intervention is...

The US Dollar (USD) is expected to increase in value according to analysts at UOB Group. However, they do not foresee the USD reaching the major resistance levels at 7.3000 and 7.3100.In the short-term...

EUR/USD is currently in a consolidation phase after reaching 1.0667, and the short-term bias is neutral. The resistance level at 1.0760 is expected to hold, leading to a potential further decline in the exchange...

This week, the focus will be on speeches by Fed officials, with five out of eight scheduled appearances featuring hawkish members. This could push back against market expectations of rate cuts this year and...

The EUR/USD pair saw a bounce on Monday as traders took profits from the previous week's fall. Despite weaker than expected German Ifo data, the single currency gained traction due to improving sentiment on...

The EUR/USD pair bounced back strongly from a weekly low of 1.0670 in Monday's European session as the demand for risky assets increased. This was fueled by speculations that the Federal Reserve (Fed) might...

The USD/JPY currency pair's daily forecast shows that the intraday bias is currently on the upside. The ongoing rally is expected to reach the 160.20 high, with a possibility of extending to the 100%...

The USD/CHF pair took a dive to 0.8825 last week before making a strong recovery. Currently, the initial bias is neutral for consolidations above 0.8825, with a bearish outlook in the near term as...

The recent data from Eurostat has shown a rise in inflation in the Eurozone countries, reaching 2.6% in May. This increase in consumer prices led to a slight hope among euro bulls that the...

Silver prices experienced a significant drop, falling 3.86% due to the influence of strong US Treasury bond yields and a robust US Dollar. The current trading price for silver stands at $29.53, marking a...

The GBP/USD pair continued to decline last week, falling from the short-term high of 1.2859 despite a temporary recovery. This week, the initial bias is towards further downside movement. If the key support-turned-resistance level...

The upcoming events for the week include various economic indicators from different countries. On Monday, we have the Bank of Japan releasing the Summary of Opinions and German IFO data. Tuesday will see the...

The New Zealand Dollar (NZD) versus the US Dollar (USD) pair experienced a three-day losing streak, closing the week on a negative note with the pair stabilizing at 0.6115. The outlook for NZD/USD continues...

The USD/JPY pair saw a significant increase last week, rising from 151.68 to 159.81, showing no clear signs of a peak yet. The initial bias for this week remains on the upside, with a...

The week ended on a soft note for US equities, with key events and releases to watch in the upcoming week. Gold saw a short-lived rally before falling $40. MUFG predicts that the BOJ...

USD/JPY bulls are taking big risks. The pair has been on the rise for seven consecutive days following a strong US services PMI report. The PMI reading of 55.1 is the highest in 26...

The NZD/JPY cross has been on an upward trend, reaching new cycle highs above 97.00. This positive movement continued on Thursday as the cross surpassed the previous resistance level and set a fresh cycle...

The USD/CAD pair is currently trading in a narrow range but is holding steady above the key support level of 1.3700 during the European session on Wednesday. This consolidation is happening amidst uncertainty surrounding...

Last week, we received some positive news as both the CPI and PPI numbers came in lower than expected. This news is likely to support the stock market overall, as it may give the...

The USD lost ground last week due to a soft US CPI report, leading to market expectations of two rate cuts by the end of the year. However, the market reversed its moves after...

The NZD/USD pair experienced some selling pressure for the third consecutive day on Monday. This was influenced by mixed Chinese data that did not excite buyers or give a boost to the New Zealand...

The USD/JPY pair showed a choppy rise from 151.86 and broke through the 157.70 resistance last week. This led to a continuation of the upward movement, with the initial bias leaning towards the upside...

The NZD/USD pair has been stabilizing near the 20-day Simple Moving Average (SMA) of 0.6140 after a dip to a low of 0.6115. Bulls and bears are currently locked in a tight battle, with...

Last week, the Euro saw a significant decline indicating that the rebound from 1.0601 may have already ended as a correction to 1.0915. This week, the initial bias is towards the downside with a...

Last week, the EUR/USD experienced a drop due to political news from France, causing it to open the new week with a gap down. Although the gap was eventually filled later in the week,...

The past week in the world of Forex and cryptocurrency trading was filled with significant events and developments that impacted the markets. Let's take a closer look at some key highlights from the recent...

The S&P 500 (SPY) had a strong week, reaching the long-awaited target of 5400-412. This prompted a re-assessment rather than a rush to close positions and go short. The positive momentum was supported by...