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
Technical Analysis
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
EUR/USD has displayed resilience as it maintains its gains above the 1.0980 level. The pair has formed a key bullish trend line with support near 1.0980 on the 4-hour chart. This indicates the potential for further upside momentum in the near future. Similarly, GBP/USD has been consolidating gains near the 1.2700 level. The pair has
The USDCHF currency pair has recently tested an eight-year low, signaling a significant decline in value. However, while sellers may currently hold power, this dominance may not last long. Additionally, market participants eagerly anticipate the release of the Core PCE inflation figures, set to be announced at 13:30 GMT. In recent times, the USDCHF pair
The USDCAD currency pair has experienced a sharp downturn recently, as the 20-day and 200-day Simple Moving Averages (SMA) have formed a dreaded Death Cross. This technical indicator is a bearish signal that indicates further selling pressure in the short-term. The Death Cross is a widely-followed technical pattern that occurs when the short-term moving average
The currency pair GBPJPY has been displaying a perplexing lack of direction in the past two weeks. Traders and analysts have been scratching their heads as the GBPJPY chart fails to provide any clear trend or indication of future movement. This period of ambiguity has left investors on edge, uncertain about when and how to
The USD/JPY pair made an attempt to break above the 145.00 resistance level, but failed to gain momentum, resulting in a fresh decline. Looking at the 4-hour chart, it is evident that the pair has settled below the 144.00 level, as well as the 100 and 200 simple moving averages. The bears have pushed the
The Bank of England (BoE) is currently facing scrutiny and criticism for its slow response to the significant decline in UK price growth. The latest official data has shown a substantial drop in consumer price growth, with figures plummeting to 3.9% in November from 6.7% in September. This unexpected decrease in price growth has triggered