AUDJPY Analysis – January 15 AUDJPY’s retracement sets the stage for potential bullish momentum. Overbought conditions signalled a potential crash in June 2023. From 97.670, a retracement to 91.800 followed, sustaining a bullish trend. Previous highs were invalidated despite hesitant purchases. The price is now moving into a discount zone, although from the bullish order […]
In a recent Fitch Ratings report, the Nigerian naira is grappling with a challenging future, hampered by a substantial backlog in foreign exchange demand and a burdensome debt load. The official market sees the naira trading at approximately 895 to the dollar, but on the parallel market, it weakens considerably, fetching around 1,350 naira per […]
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 resumes its upward trajectory, breaking above the moving average lines. On January 10, 2024, the bulls broke and retested the 21-day SMA before resuming their upward trend. During the January 11 rise, a retraced candle body […]
In response to disappointing Chinese economic data and mixed signals from global central banks, the dollar experienced a robust surge against major currencies on Wednesday, reaching its highest level in a month. The dollar index, gauging the greenback against a basket of six currencies, climbed by 0.32% to 103.69, marking its zenith since December 13. […]
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AUDUSD bounces off $0.675 level AUDUSD Price Analysis – 17 January If sellers can hold the $0.660 resistance level, AUDUSD may fall to the support levels of $0.654, $0.620, and $0.610. If buyers can push past the $0.660 resistance level, pricing may tilt toward $0.666 and potentially even hit $0.675 as a result of their […]
Market Analysis – January 16th US30 faces downward pressure and a potential break below the 37155.30 key level. The US30 index has experienced a significant decline and could potentially proceed lower, breaking below the significant zone of 37155.30. The stock market has opened in the red this week, indicating heightened volatility and a higher likelihood […]
Introduction: The recent approval of Bitcoin ETFs marks a significant milestone in the financial landscape, ushering in a new era for cryptocurrency investors. Drawing parallels with the evolution of Gold ETFs, we delve into the transformative potential and implications of this development. Gold ETFs: Streamlining Precious Metal Investments Investors have long cherished gold for its […]
The Moscow Exchange, Russia’s largest stock exchange, saw a surge in the trading volume of the Chinese yuan in 2023, surpassing that of the U.S. dollar for the first time, according to Reuters, citing a report by the Kommersant daily on Tuesday. Data from the report reveals that the yuan’s trading volume on the Moscow […]
Market Analysis – January 15th GBPUSD price stays in a choppy stage as traders find it hard to strike a deal. Cable, as GBPUSD is commonly referred to, has failed to gain a solid flow since the beginning of the year. The market has been in a decisive state, with both buyers and sellers battling […]
