On Monday, the dollar (USD) slightly increased, temporarily pulling away from recent six-month lows against a basket of key currencies. Recent market speculation is that the US Federal Reserve’s tightening cycle may be coming to an end, and the fragile state of sentiment has caused it to decline. Additionally, the first trading day of the […]
GBP/USD started the year’s trading with moderate profits, which have extended until today. Also, technical indicators are still showing that this observed profit may progress further. Important Price Marks: Resistance: 1.2085, 1.2120, 1.2170 Support: 1.2040, 1.2000, 1.1980 GBP/USD Is Gathering Moderate Profits GBP/USD has been recording moderate gains midway between the 50 and 38.20 Fibonacci levels […]
Since nine trading sessions ago, the Nasdaq 100 price action ripped through the Fibonacci support level of 78.60. Currently, price action has rebounded upwards from near $10,600 to $10,939. However, trading indicators continue to point to the possibility of further price increases. Major Price Levels: Top Levels: $10,939, $11,000, $11,050 Floor Levels: $10,900, $10,850, $10,800 […]
After a year in which it was pushed lower by abrasive interest rate increases everywhere, economic limits in China, and concerns for global growth, the Australian dollar ended 2022 with a 7% annual decline, its largest since 2018. Another risky currency, the New Zealand dollar, ended the year 7.5% lower than it started, which would […]
Better-than-expected home prices originally caused the British pound to react favorably, but markets rapidly turned against the currency as investors realized that the UK housing industry is slowing down both YoY and MoM. Due to reduced demand from the UK public, higher interest rates have unavoidably been pulling down property prices. The pound’s gains in […]
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Bulls may dominate USDCHF market soon USDCHF Price Analysis –30 December USDCHF will break through the $0.93 level and go up toward the resistance levels of $0.94 and $0.95 if buyers apply additional pressure and defend the $0.92 support level. In case the sellers apply further pressure, the $0.92 support level may be breached on […]
Market Analysis – December 29 GBPJPY price declines rapidly as a result of the breakout from the ascending triangle. The market direction has been established by the massive displacement to the downside. GBPJPY Key Zones Demand Zones: 158.760, 156.080, 154.000 Supply Zones: 163.290, 168.800, 171.300 GBPJPY Long-Term Trend: Bearish The market initiated a bullish trend […]
USOil prices appear to have encountered a moderate headwind over the last four trading sessions on the daily market. This has caused prices in this market to decline from $80.00 to $78.38. With careful observation, we can see that attempts are already being made to abate the downward retracement. So let’s zoom in for a […]
Market Analysis – December 27 EURCHF lurks in consolidation between the 0.9900 supply level and the 0.9820 demand level. Throughout December, the market has been stuck in a range. EURCHF Key Levels Demand Levels: 0.9820, 0.9790, 0.9650 Supply Levels: 0.9900, 0.9950, 1.0000 EURCHF Long-term Trend: Ranging EURCHF is currently moving sideways on the daily chart. […]
