Market Analysis – August 7th GBPUSD buyers defend key market level amidst selling pressure. The buyers are actively defending the 1.27010 market zone as they strive to counter the prevailing selling trend. Following a failed penetration beyond the 1.31370 level in July, sellers took control. As a result, the sellers dominated the market from mid-July […]
In a concerning turn of events, the Russian ruble finds itself in a precarious position, hitting a new 16-month low on Wednesday. The currency’s recent woes can be attributed to a combination of factors, with robust foreign currency demand and a limited supply acting as the primary culprits. These challenges are further compounded by Russia’s […]
AUDJPY Analysis – August 9 The AUDJPY currency pair has recently exhibited a notable bullish flag pattern, reflecting a strong market sentiment shift. This bullish stance was particularly evident in the first half of June, characterized by a rapid and virtually unhindered price surge until it reached the peak of 97.60. However, it’s worth noting […]
In an unexpected twist of events, the British pound encountered a minor stumble on Tuesday, holding its ground above recent one-month lows. This follows the release of a thought-provoking survey shedding light on subdued sales growth for British retailers over the past 11 months. This downturn in fortunes has been attributed to a combination of […]
Market Analysis – August 8 EURCHF has displayed a strong inclination to rise as it launches from the in-demand level of 0.9550. The breakout from a downward-sloping triangle resulted in a bearish displacement, leading the price to purge to the support level of 0.9550. EURCHF Key Levels: Demand Levels: 0.9550, 0.9370, 0.9300 Supply Levels: 0.9650, […]
The U.S. dollar has shown its mettle once again, staging a remarkable recovery from a recent one-week low on Monday. This resurgence follows a nuanced U.S. jobs report that graced headlines on Friday, deftly redirecting market attention toward the imminent release of inflation data from the globe’s two largest economies. The euro, on the other […]
Market Analysis – August 4th US Oil (WTI) buyers aim for a breakout above the 83.440 key zone. The buyers are focused on achieving a breakout above the significant zone at 83.440. Their determination to push for a breakthrough remains strong. While there has been progress in price, an additional effort is required to surpass […]
Market Analysis – Augustus 3rd Gold (XAUUSD) faces a potential decline below the 1938.000 market strength as bullish momentum weakens. The yellow metal had been on a bullish trajectory after a period of bearish sentiment from March to July. During this time, the market dropped from the key level of 2051.270 to the price zone […]
The Australian Dollar (AUD) embarked on a rollercoaster ride last week, exhibiting a turbulent pattern of trading before eventually succumbing to a two-month low. The catalyst for this dramatic descent was none other than Fitch Ratings, whose decision to downgrade the United States’ sovereign credit rating from AAA to AA+ sent shockwaves throughout the global […]
