Nigeria’s currency, the naira, has plunged to a historic low against the dollar, marking a concerning trend despite efforts by the central bank to stabilize the exchange rate. Central Bank Governor Olayemi Cardoso addressed the Nigerian legislative parliament, revealing that the bank had injected over $1 billion into the economy by selling one trillion naira […]
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Bulls are in control of USDCHF market USDCHF Price Analysis – 09 February If the purchasing momentum can sustain over the $0.88 resistance level, USDCHF can cross the $0.89 resistance level and approach the $0.91 barrier level. If sellers apply enough pressure, they might be able to move the price past $0.86 and into the […]
Market Analysis – February 9th FTSE100 buying force slows down as buyers need to regroup and recover before making their next move. The FTSE100 has witnessed a market twist that has favored both traders for several months. Even in a ranging market, the index price has maintained strong liquidity. As the year 2033 came to […]
The U.S. dollar showcased resilience on Thursday, bolstered by encouraging figures on unemployment benefits, signaling a robust labor market and diminishing prospects of a Federal Reserve rate cut. According to the latest report from the Labor Department, initial jobless claims decreased by 9,000 to 218,000 during the week ending February 3, surpassing expectations set at […]
Market Analysis – February 8th US30 buyers regain control as bullish sentiment prevails. The US30 has experienced a recent resurgence as buyers have chosen to reclaim strength in the market. Despite a setback caused by sellers just yesterday, the bullish sentiment that has been holding out for a while remains intact. This can be traced […]
Market Analysis – February 8th EURCHF buyers gain dominance. The currency pair has recently witnessed a refocus of strength as buyers gain dominance. The bulls have been steadily building up their strength since the start of this month. This indicates a significant shift in market dynamics. The Euro market has shown signs of growing stronger, […]
AUDJPY Analysis – February 8 AUDJPY seeks a breakthrough amidst consolidation. The currency pair is currently in a consolidation phase, but it is seeking a stronger direction rather than remaining stagnant this week. The market has yet to show a significant improvement this year. However, the bears are actively seeking a breakthrough. The significant level […]
The pound exhibited resilience on Wednesday, bolstered by the revelation of a significant uptick in UK house prices. According to data released by Halifax, a prominent mortgage lender, house prices surged by 2.5% in the year leading up to January, marking the fastest pace of growth in a year. This surge hints at a robust […]
Key Resistance Levels: 160.00, 162.00, 164.00Key Support Levels: 150.00, 148.00, 146.00 EUR/JPY Price Long-term Trend: BearishThe EUR/JPY’s drop subsides above the low of 158.50 as it achieves bearish exhaustion. Furthermore, the currency pair has been caught between the moving average lines since January 31, 2024. On February 1, bulls bought dips when the Yen fell […]
