On Thursday, the British pound bulls still have the six-month highs reached in December against the US dollar firmly in their sights, but a London morning with nothing in the way of domestic economic data may be dampening their desire to attempt it again soon. The idea that interest rates in the UK still […]
The price of XAU/USD has significantly increased for about two months. Price action in this market, even at this point, continues to show more upside potential. Major Price Levels: Top Levels: $1,909, $1,939, $1,969 Floor Levels: $1,900, $1,880, $1,860 XAU/USD (Gold) May Regain Upside Traction from Here On the daily market, the XAU/USD price action […]
Market Analysis: January 17 EURCHF experienced a successful breakout after long-term consolidation in the market. A bullish displacement pierced through the resistance trendline like a hot knife through butter on the 11th of January. EURCHF Key Zones: Demand Zones: 0.98210, 0.97230, 0.96470, 0.94300 Supply Zones: 0.99120, 0.99500, 1.00600, 1.01520 EURCHF Long-term Trend: Bullish EURCHF’s uptrend […]
On Wednesday, the USD/CHF fell by about 100 pips after cutting some losses during the previous hour, although it has rebounded halfway at the time of writing. The pair hit its lowest point since November 2021 at 0.9084 before recovering and moving back above 0.9166. The US dollar was weaker, while the Swiss franc was […]
Market Analysis – January 16 AUDJPY market has ascended into a bearish confluence. A bearish trendline crossed the resistance level at 91.180 to form a confluence point for a selloff. AUDJPY Key Zones Resistance Zones: 91.180, 95.140, 98.230 Support Zones: 87.890, 85.920, 83.900 AUDJPY Long-term Trend The sellers gained control of the market after a […]
Tuesday’s tumultuous trading saw the dollar decline versus the majority of the world’s currencies due to predictions of a potential Bank of Japan policy change that might terminate the central bank’s so-called “yield curve management” and pave the way for a tighter monetary policy. Over the past few weeks, expectations have caused the yen to […]
Price action in the US30 market is weakening after it successfully broke through the resistance of $33,902. And, since the previous trading session, the bears have been winning, although with low magnitudes. Let’s look into what may likely happen as trading activities progress. Major Price Levels: Top Levels: $34,300, $34,350, $34,400 Floor Levels: $34,255, $34,200, […]
Market Analysis – 15 NZDUSD has retraced to retest the bearish trendline after the breakout from the falling wedge. Buyers seek to utilize the supporting trendline as a launching pad to shoot higher in the market. The bulls are set to ascend to 0.650. NZDUSD Key Zones Supply Zones: 0.650, 0.660, 0.680 Demand Zones: 0.620, […]
The dollar had a rough start to the week, falling to a seven-month low against a basket of significant rivals in Asian trade before stabilizing. The yen was in special focus since traders were betting that the Bank of Japan would further modify its yield control strategy. The dollar index (DXY), which measures the value […]
