Key Resistance Levels: 160.00, 162.00, 164.00Key Support Levels: 150.00, 148.00, 146.00 EUR/JPY Price Long-term Trend: BullishThe EUR/JPY currency pair is still trading above the moving average line but risks an additional drop. The current upswing ended after hitting a high of level 161.86. The pair has retraced and is now trading above the 160.00 support […]
In a turbulent Thursday session, the euro touched a six-week low at $1.08215, marking a 0.58% decline. The dip came as the European Central Bank (ECB) decided to maintain its interest rates at an unprecedented 4%, causing concern about the eurozone’s economic trajectory. ECB President Christine Lagarde, addressing the media, emphasized that it was premature […]
The Bank of Canada (BoC) announced on Wednesday that it would maintain its key interest rate at 5%, signaling a cautious approach amidst the delicate balance of rising inflation and sluggish economic growth. BoC Governor Tiff Macklem emphasized a shift in focus from contemplating rate hikes to determining the optimal duration to sustain the current […]
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Buyers’ pressure increases Sponge Price Analysis – 23 January If the price breaks above the $0.000998 barrier level and encounters resistance in the range of $0.001158 to $0.001298, the bulls might be able to maintain their advantage in the market. The price may drop to the support levels of $0.000695 and $0.000577 if the $0.000886 […]
The yen displayed resilience against the dollar today, spurred by the Bank of Japan’s (BOJ) decision to maintain its current monetary policy while dropping hints of a potential exit from negative interest rates in the coming months. What’s Going on With the Yen? In the initial trading hours, the dollar faced a 0.75% decline, slipping […]
AUDJPY Analysis – January 23 AUDJPY faces a downside as the bullish momentum falters. Despite the ongoing pullback, the market’s order flow is still bullish. With the inability to break through the bearish order block at the premium zone, the bullish momentum in AUDJPY seems to have stopped. There will likely be another downward crash […]
NZDUSD Analysis – January 21 NZDUSD Sharp Drop Triggers Prolonged Descent From the premium zone of the market’s current trading range. NZDUSD experienced a sharp drop from $0.63690 due to a Fair Value Gap. Despite recent highs, a looming decline may unfold gradually, with a potential correction or reversal at the 79.0% Fibonacci retracement level. […]
Market Analysis – January 23rd Nasdaq bullish power remains in control. NAS100 has been capitalizing on its bullish extension as the buyers maintain a solid grip on the index market. The recent breakthrough above the significant level of 16945.000 has provided a significant boost for the buy market. It has, however, ignited a sense of […]
Market Analysis – January 22nd GBPUSD market remains in a deadlock as bulls struggle. The GBPUSD market continues to remain in a state of deadlock, with bullish momentum kept at bay for weeks. This prolonged period of consolidation is a clear indication of the struggle faced by buyers. Since December, the buyers have been grappling […]
