Market Analysis – June 7 The USDCAD market has been characterized by a battle between buyers and sellers, resulting in volatile price action. Recent observations indicate that swing highs and lows have been easily breached, making it advisable to exercise caution and adopt appropriate risk management strategies until the market conditions become clearer. USDCAD Key […]
Market Analysis – June 6 EURCHF is experiencing a downward trend, characterized by a bearish parallel channel, which has influenced its price action. The upper boundary of the channel, serving as a resistance level, has been tested, leading to increased short positions during this trading week. EURCHF Key Levels Demand Levels: 0.9640, 0.9550 0.9480 Supply […]
In a surprising turn of events, the Australian dollar stood its ground despite a slight miss on the trade balance data. Market attention quickly shifted toward the recent interest rate decisions made by the Reserve Bank of Australia (RBA) and the Bank of Canada (BoC). Both central banks caught investors off guard by raising their […]
The U.S. dollar, a major player in the global currency arena, recorded a notable dip on Wednesday, with the DXY index slipping by around 0.45% to 103.66. Surprisingly, this happened despite the surge in U.S. Treasury yields. Things really got interesting when the Bank of Canada (BoC) made a surprise move and raised rates, catching […]
Market Analysis – June 7 FTSE 100 has experienced a price surge from the bullish order block on the 7450 support zone. The price is rapidly soaring to the next resistance level of 7219.0 FTSE 100 Key Levels Demand Zones: 7450.0, 7330.0, 7203.0Supply Zones: 7719.0, 7805.0, 7937.0 FTSE 100 Long-Term Trend: Bearish A bearish reversal […]
Market Analysis- June 6 US 30 has declined steadily in a falling wedge. The buyers utilized the demand level of 32751.0 to engineer a price surge, which halted the bearish correction phase. US 30 Significant Levels Demand Levels: 32751.0, 31718.0, 31250.0Supply Levels: 33438.0, 34228.0, 34628.0 US 30 Long-Term Trend: Bullish The US 30 market took […]
In a twist that has left market participants scratching their heads, the Japanese yen continues to defy expectations and remain remarkably resilient, even in the face of mounting calls for a policy shift from the Bank of Japan (BoJ). While many had hoped for a swift change under the leadership of Governor Ueda, his unwavering […]
Key Resistance Levels: 132.00, 133.00, 134.00Key Support Levels: 129.00, 128.00, 126.00 EUR/JPY Price Long-term Trend: Bearish The EUR/JPY is now falling after being rejected twice at level 151.00 high as it revisits level 148.59 low. The Yen is falling as it breaks below the 21-day SMA. The selling pressure could increase once the moving average […]
The US dollar hit a speed bump as the gauge of US business services activity stumbled in May. According to the Institute for Supply Management (ISM), its services PMI index took a nosedive, dropping to 50.3. This unexpected decline is fueling worries about the economic outlook, with overly restrictive monetary policy and stubbornly high inflation […]
