In a surprising turn of events, the Canadian dollar (CAD) flexed its muscles against its American counterpart on Tuesday, buoyed by an unexpected surge in domestic inflation. Rent prices and mortgage interest costs played the role of inflationary superheroes, propelling the headline Consumer Price Index (CPI) to new heights. As a result, the USD/CAD pair […]
Market Analysis- May 15 GBPUSD has experienced a false breakout above the resistance level of 1.2640. Multiple rejection candles hung on the resistance level before the aggressive dive in price to signal the shorting of the whales. The market has turned bearish with the break of the bullish trendline. GBPUSD Trade Levels Support Levels: 1.2450, […]
EUR/USD kicked off the week with a moderate bounce, managing to find its footing at the crucial support level of 1.0840. The currency pair’s resilience is commendable, considering the tumultuous ride it experienced last week when a resurgent US dollar and souring market sentiment exerted downward pressure. ECB Policymaker Sending Mixed Signals The European Central […]
Market Analysis – May 12 The crude Oil market has offered a sell-side delivery of the bullish swing, which originated from the demand level of 66.000 to the supply zone of 83.370. The market price is currently on a free fall, aiming to sweep the previous low of 64.000. US Oil Key Levels Demand Levels: […]
Market Analysis – May 14 NZDUSD witnessed a notable change in direction, indicating a shift toward bearish sentiment. The price rebounded from the oversold prices, as evidenced by the Williams % R (Range), igniting a sudden price rise that propelled it higher than the previous swing high of 0.63170. The bullish breakout has failed as […]
USDCAD Analysis – May 15 USDCAD surges upward after bouncing off the rising trendline five times. The market is in a phase of consolidation over a long horizon. For more than six months, the USDCAD price has been ranging between 1.386200 and 1.322600. However, the price continues to abide by a rising trendline, giving the […]
Market Analysis – May 15 The USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade market has displayed a very discernible direction since the previous year. The market has not experienced consolidation for a long time. USDJPY – Guide, Tips & Insights | Learn 2 […]
Market Analysis- May 14 In recent trading sessions, the US100 index has been displaying an impressive uptrend. This has been marked by the index breaking through the resistance level of 13195.0 on April 27, 2023. For approximately eight months, the price has been fluctuating below this key resistance level, but the bulls have shown remarkable […]
The British pound (GBP) is enduring a continued decline following the recent meeting of the Bank of England (BoE). In Friday’s trading, the GBP/USD pair slipped below the critical psychological level of 1.2500, hitting 1.2448. Although the sell-off is primarily influenced by the strength of the US dollar, it’s worth noting that the pound managed […]
