EUR/USD has shown bullish momentum as it surpassed the crucial resistance level of 1.0800. This bullish trend has been supported by a key bullish trend line with a support level around 1.0790 on the hourly chart. The pair managed to climb above the resistance zone and settled above the 50-hour simple moving average, indicating a
Technical Analysis
The Australian dollar faced a significant decline last Tuesday, dropping by 1.18% due to higher-than-expected US inflation figures. This surge in US inflation boosted the US dollar, causing the Aussie to plummet. However, the currency has since bounced back and is currently trading at a two-week high against the US dollar. Investors are eagerly awaiting
Recent data has revealed that both the UK and Japan are facing a technical recession, marked by a consecutive decline in gross domestic product. While the UK’s economic downturn can be attributed to high inflation and strict policies imposed by the Bank of England, Japan’s recession may be linked to its ongoing population decline spanning
The recent analysis from Commerzbank indicates a positive outlook for the New Zealand Dollar (NZD) in the upcoming months, despite facing downward pressure. The currency has been affected by broader U.S. Dollar strength and domestic issues, which have kept it below last year’s highs. However, the strong labor markets in both New Zealand and Australia,
The rally from the low of 2.1.2024 appears to be in progress, showing a five-wave impulse Elliott Wave structure. This suggests that the market is currently in an upward trend. In this article, we will analyze the wave patterns and discuss the potential future movements of the market. Wave (i) and (ii) After the 2.1.2024
The recent release of CPI data had a significant impact on the price of Gold, causing it to drop from its recent peak of $2,000 to around the $1980 mark. As we await the release of Retail sales data from the US, it is crucial to carefully analyze the current state of the XAUUSD market
The gold market has been facing a significant decline recently, as it failed to clear the $2,032 resistance level against the US Dollar. The price corrected lower and traded below a short-term rising channel, with support at $2,020. This downward movement has caused the price to consolidate losses near the $1,990 level. There are several
Gold prices have experienced a fresh decline after failing to break above the resistance level of $2,060. This decline has been triggered by a strengthening US Dollar and a bearish trend in the EUR/USD pair. As a result, gold has traded below key support levels, suggesting the possibility of further downsides in the near term.
The Euro has been experiencing a decline against the US Dollar, falling below the 1.0800 level. However, there are signs of a recovery wave as EUR/USD tests the 1.0720 zone. On the 4-hour chart, the pair has managed to climb above the 1.0750 resistance zone. This move is significant as it surpasses the 23.6% Fib
AUDJPY has been experiencing an upward trend, with the Australian dollar strengthening against the Japanese yen. The pair has cleared the 100-day Simple Moving Average (SMA) and continues to trade higher. However, a contracting triangle pattern has emerged, indicating a period of consolidation and declining volatility. Momentum indicators suggest a lack of interest in the
The US 30 index, also known as the Dow Jones Industrial Average, is currently showing a bullish outlook, supported by technical indicators. Despite trading slightly below its all-time high of 38,782, the index remains above a medium-term rising trend line. This indicates the potential for an upward move. However, the key question now is whether
In a bearish scenario, sales are expected to be below 78.99. The first take profit level is set at 77.93, followed by a second take profit level at 77.45. If the price breaks out below 76.56, the third take profit level is at 76.56, and the fourth take profit level is at 75.70. To manage