USDCAD, the currency pair consisting of the US dollar and the Canadian dollar, is currently on the path to recovery after a significant decline in December. While positive momentum is gaining traction, it is still uncertain whether this is just a temporary respite or the beginning of a sustained rebound. After reaching a five-month low
Technical Analysis
The Australian Dollar (AUD) has seen a fresh increase against the US Dollar (USD), moving above key resistance levels. On the hourly chart of AUD/USD at FXOpen, the pair started a positive move from the 0.6725 support. After clearing the 0.6760 resistance, the Aussie Dollar was able to enter a positive zone. It also closed
GBPUSD has recently reached a four-month peak of 1.2826, signaling a positive bias. The pair has been forming a profound structure of higher highs since breaking above a crucial descending trendline in early November. This rally may be short-lived, but the impending completion of a golden cross between the 50- and 200-day simple moving averages
After failing to maintain stability above the 145.00 support level, USD/JPY has embarked on a major decline. The 4-hour chart reveals that the pair has broken below the 143.20 support zone, indicating a shift into a bearish zone. Furthermore, USD/JPY has dropped below the 142.50 level, as well as the 100 and 200 simple moving
Gold prices have surged higher, surpassing the significant level of $2,075, as the festive period contributes to increased demand for the precious metal. This surge in gold prices can be attributed to the low liquidity during the holiday season, which has fueled the buying momentum. Additionally, several momentum indicators are supporting the current upward movement,
The AUDUSD pair hit a fresh five-month peak on Thursday, signaling a strong recovery from its 2023 bottom in October. However, with oscillators in overbought levels for several sessions, there are concerns about whether the rally can continue or if a pullback is on the horizon. Both the RSI and stochastics have been within their
The price of Ethereum (ETH) has recently surpassed $2,440 per token, reaching a new high for 2023. Surprisingly, Bitcoin (BTC) did not mirror this bullish sentiment, hovering around the $43,000 level for the past five days. So, what has been fueling the growth of ETH/USD from a fundamental perspective? While there is no clear trigger
In recent days, crude oil prices have shown signs of recovery from the $67.70 zone. This upward movement has allowed the price to break through the $70.00 zone and enter into a positive zone. Analyzing the 4-hour chart of XTI/USD, we can see that the price has settled above the $73.50 zone, as well as
EURUSD is once again edging higher today, extending its recent bullish momentum. It has reached a key resistance area above the 1.1032 level, which has proven to be a challenge for the bulls since February 2023. Despite this hurdle, the currency pair has managed to record a higher high, demonstrating the continuation of the established
Financial markets are currently experiencing a decline in trading activity, which is a typical pattern associated with the holiday period. However, amidst this slowdown, there are notable events shaping the market dynamics. This article will analyze the recent developments in the market, including the stock indices, the weakening dollar, and the rising oil prices due
The Euro has exhibited a bullish trend against the US Dollar, gaining momentum above the 1.0985 resistance zone. On the hourly chart of EUR/USD at FXOpen, the pair initiated a fresh upward move above the 1.0930 level and continued to climb. It surpassed the key resistance level of 1.0985 and settled above the 1.1020 resistance
The British Pound (GBP) has shown strength against the US Dollar (USD) as it formed a base above the 1.2600 zone. The pair, GBP/USD, has climbed higher and is now eyeing more gains above the 1.2750 level. To understand the potential upside, let’s analyze the technical indicators. On the 4-hour chart, GBP/USD has settled above