The US dollar-to-Japanese yen currency pair (USD/JPY) made an impressive comeback on Friday after losing ground in the early hours. The sudden surge was sparked by better-than-anticipated economic data from the United States, which sent the pair soaring from 133.55 to 134.35 in just a few minutes. The S&P Global Flash US Composite PMI, which […]
Market Analysis – April 21 Bitcoin retraced to gain momentum for an ascent to break the 24826.0 resistance level. The failure to push through the major level was revealed with the double top that formed in February. Currently, the buyers have opted for a pullback once again to gain bullish momentum for an ascent. Bitcoin […]
Market Analysis – April 20 The USDCAD market experienced a bullish breakout in February. A retracement followed to establish a retest upon the breakout. After a bounce off the previous resistance trendline, the price fell below the confluence zone. USDCAD Key Levels Demand Levels: 1.3180, 1.2980, 1.2820 Supply Levels: 1.3520, 1.3690, 1.3880 USDCAD Long-term Trend: […]
It’s a tale as old as time: the euro and the U.S. dollar (EUR/USD) battling it out for currency supremacy. And in recent days, it seems the euro has gained the upper hand, as the pair rebounded on Thursday after a subdued performance in the previous session. While gains were limited, the euro managed to […]
Market Analysis – April 18 The EURCHF market structure has remained bearish since the formation of the swing high of 1.0090 in January. Multiple swing lows have assembled in an orderly manner to form lower highs. EURCHF Key Levels Demand Levels: 0.9820, 0.9720, 0.9700 Supply Levels: 0.9970, 1.0060, 1.0090 EURCHF Long-term Trend: Bearish The market […]
Key Resistance Levels: 132.00, 133.00, 134.00Key Support Levels: 129.00, 128.00, 126.00 EUR/JPY Price Long-term Trend: BullishThe EUR/JPY has been rising since it soared to a high of level 147.62 but faces rejection at level 148.00. The current surge is projected to continue moving upward. The pair is once more testing the historical price level of […]
Market Analysis – April 19 FTSE 100 price is currently within the premium range. The retracement accent seems to trend steadily without the formation of a lower time frame shift in market structure, the pullback might like to turn into a total reversal. FTSE 100 Key Levels Demand Levels: 7712.0, 7576.0, 7288.0Supply Levels: 7848.0, 8015.0, […]
Market Analysis – April 18 The US 30 market, also known as the Dow Jones Industrial Average Index, has failed to soar beyond the resistance level of 34381.0 since April last year. The Bulls are attempting to bridge the resistance level, but reduced momentum has been noticed on the 24-hour chart. US 30 Key Levels […]
The dollar’s recent gains have been attributed to rising Treasury yields, which helped boost the currency against a basket of its peers. However, experts are divided over whether the dollar’s rise is sustainable, with some predicting a bumpy road ahead. Bipan Rai, North America head of FX strategy at CIBC Capital Markets in Toronto, believes […]
