Key Resistance Levels: 132.00, 133.00, 134.00Key Support Levels: 129.00, 128.00, 126.00 EUR/JPY Price Long-term Trend: RangingThe EUR/JPY pair is beginning its range-bound move as it faces rejection at level 142.00. The Yen has been ranging between levels 138.00 and 143.00 since December 28, 2022. Today, buyers have raised the moving average lines for the currency […]
The EUR/USD has failed to show any significant moves this morning despite the European Commission raising its 2023 growth forecast for the EU. Market sentiment remains risk-averse ahead of tomorrow’s release of EU GDP and US inflation data. The EU economy has started the year in a better position than expected in the fall. This […]
Market Analysis – February 12 NZDUSD remains trapped between the supply level of 0.650 and the demand level of 0.620. Relatively higher lows and highs formed in the consolidation region. NZDUSD Key Zones Demand Zones: 0.620, 0.590, 0.560 Supply Zones: 0.650, 0.670, 0.700 NZDUSD Long-term Trend: Bullish NZDUSD bullish momentum has greatly declined since the […]
Market Analysis – February 13 The AUDJPY market structure has turned bullish as higher highs and lows are assembled from the 87.890 demand level. An ascending uptrend channel is also visible on the daily chart. AUDJPY Key Levels Demand Levels: 91.180, 87.890, 85.920 Supply Levels: 95.140, 98.230, 102.00 AUDJPY Long-term Trend: Bullish The AUDJPY market […]
Market Analysis – February 12 US100 has reached the major supply level of 12864.0. The bulls are facing resistance pushing through the zone. US100 Key Levels Demand Levels: 11324.0, 10691.0, 10347.0Supply Levels: 12864.0, 13703.0, 15270.0 US100 Long-term trend: Bullish US100 experienced multiple long-term downtrends in 2022.The first of the bearish swings started in April. It […]
Market Analysis – February 10 USOil experienced a significant rise in price the previous year. Just before 2022 opened, a double bottom shape was displayed at 66.00, which revealed the course the following year was to follow. The market took off to the moon without any resistance. The buying pressure was so strong that there […]
GBPJPY market has been trading between the 160.80 resistance level and the 156.0 support level, since the beginning of 2023. Range traders can take advantage of the back-and-forth paddling between the key zones. GBPJPY Key Levels Demand Levels: 156.00, 150.00, 140.00 Supply Levels: 160.80, 164.50, 168.00 GBPJPY Long-term Trend: Bullish GBPJPY’s ascent was obvious during […]
USD/JPY has been one of the most active currency pairs in the foreign exchange market, with investors closely monitoring the Bank of Japan (BoJ) governor’s position as Haruhiko Kuroda’s term is set to expire on April 8. A former BoJ policymaker, Kazuo Ueda, is expected to be appointed as the next governor, according to The […]
Market Analysis – February 9 Gold has been soaring easily through multiple resistance levels on the daily chart. The market is drawing toward liquidity pools at resistance levels. Gold Key Levels: Demand Levels: 1871.0, 1786.0, 1740.0 1727.0Supply Levels: 1999.0, 2067.0, 2150.0, 2200.0 Gold Long-term Trend: Bullish Gold buyers attempted to strike at 1999.0 but got […]
