Market Analysis – September 29 EURCHF experiences a prolonged downtrend as the bears continue to rule. The bearish break in the structure confirmed the continuation of the downtrend in early July 2022. Since then, the price has been steadily falling without any significant pauses. It finds support at the 0.94000 level. EURCHF Key Levels Demand […]
The British pound experienced a surge in value on Friday, driven by robust economic data indicating a faster-than-expected recovery from the COVID-19 pandemic. Despite this positive development, the pound remains on course for its weakest quarterly performance against the U.S. dollar in a year. Data released by the Office for National Statistics (ONS) revealed that […]
Market Analysis – September 29 Gold (XAUUSD) declines as buyers lose grip. The bearish dance for gold continues. Gold has extended its recent declines amidst wavering buyer control. In a market scenario as unpredictable as this, the advent of additional selling opportunities cannot be ruled out. The effects of this predicament have started showing. The […]
Market Analysis – September 29 FTSE 100 sellers finally regained their stance again this week. The sellers have successfully recaptured the stock with formidable underlying strength. Now gaining firm footing, it appears that the bearish momentum is set to advance further. A strong sell display seems imminent, especially below the significant 7647.70 level as we […]
The U.S. dollar has retreated from a 10-month high, shedding 0.5% of its value in response to surging U.S. yields. Just a day earlier, the dollar had reached its highest point since November. Its recent upward trajectory, with a September gain of 2.32%, marks its 11th consecutive weekly increase. Investors are anticipating that the Federal […]
The Indian rupee managed to eke out a modest gain against the resurgent U.S. dollar on Wednesday, thanks to timely intervention by the Reserve Bank of India (RBI). Trading at 83.19 per dollar, the rupee showed resilience, recovering slightly from its previous close of 83.25. During the session, it grazed a low of 83.28, uncomfortably […]
Market Analysis – September 26 AUDJPY bulls aim for the 99.000 resistance level. The AUDJPY pair experienced a bullish break of structure, leading to a shift in price action from bearish to bullish. Despite the 95.000 level initially acting as resistance for price bulls, it could not hold, indicating the presence of bullish momentum. AUDJPY […]
Market Analysis – September 27 Nasdaq 100 (NAS100) buyers struggle to recapture strength. This struggle has manifested itself in several attempted reversals above the significant 14609.40 level, only to be met with strong resistance. Indeed, despite buying pressure, the tide seems to lean towards the strength of the sellers. This therefore suggests a potential downward […]
The U.S. dollar continued its remarkable ascent, reaching a 10-month high fueled by surging U.S. bond yields and the growing anticipation of forthcoming interest rate hikes by the Federal Reserve. Boosted by the dollar’s strength, the yield on the 10-year U.S. Treasury—a key influence on global borrowing costs—surged to 4.566%, its highest point since October […]
