EURUSD, a major indicator of Euro’s strength, is currently experiencing a period of indecision. The currency pair is showing sideways movement near the 1.0850 level after two consecutive weeks of negative performance. This lack of a clear recovery signal in the near-term technical outlook reflects the cautious stance of market participants. Traders and investors are
Technical Analysis
The EUR/USD currency pair is currently experiencing minimal fluctuations as it consolidates around the 1.0840 level. Traders and investors are closely watching the upcoming meeting of the US Federal Reserve System, which is expected to be the pivotal event of the week. This meeting will provide crucial insights into whether the Fed plans to lower
The USD/JPY pair is currently experiencing a downside correction after reaching a peak near 148.80. The pair has traded below a key bullish trend line with support at 147.75 on the 4-hour chart, signaling a possible decline in the near future. Furthermore, the pair has tested the 146.80 support zone and the 23.6% Fibonacci retracement
Gold prices have witnessed a slight decrease of 1% over the past week and a 2% dip since the start of 2024, currently standing near $2,030. This dip in gold prices may be attributed to various factors, including market uncertainties and changes in investor sentiment. The overall market structure on the daily timeframe of XAUUSD
The price of gold has been facing significant challenges in its road to recovery, with resistance at the $2,040 mark posing a major obstacle. This article explores the technical analysis of gold as well as the struggles faced by Bitcoin, providing insights into their future price movements. Gold recently found support around the $2,000 zone
The New Zealand dollar (NZD) begins the week at 0.6116, with minimal change. However, last week witnessed a significant 2% dip, causing the NZD to hit a five-week low. The economic landscape in New Zealand remains challenging, as evidenced by the Performance of Services Index (PSI). The PSI report indicates three contractions in the second
Brent crude oil prices are experiencing a moderate increase as the new week begins, currently hovering around $78.40 per barrel. This upward trend can be attributed to the evolving perspective on energy demand. Recent macroeconomic data has raised some concerns about future demand, which has somewhat offset the factors that were previously bolstering prices, such
The USDCAD pair has recently extended its rebound to reach a fresh 1-month high. However, despite the positive momentum indicators, it has failed to close above the 50-day simple moving average (SMA). This article analyzes the current state of the USDCAD pair and explores potential scenarios for its future movement. Despite its solid recovery from
Bitcoin (BTCUSD) has been in a state of uncertainty, struggling to maintain its recent bullish momentum. After reaching a peak of 49,051, the cryptocurrency has faced a significant decline, plummeting to as low as 41,400. This article will examine the current market conditions surrounding Bitcoin and analyze the key support and resistance levels to watch
Gold price experienced a significant rally, surpassing the $2,040 resistance level and reaching as high as $2,060 against the US Dollar. However, the bullish trend was short-lived as the price underwent a downside correction. The bears managed to push the price below key support levels including $2,030 and the 50-hour simple moving average. The price
The ongoing hostilities in the Middle East region and the Red Sea shipping route have introduced a potential “floor” in oil prices due to the increasing risk of supply disruptions. However, the demand side has remained weak as China’s top policymakers have signaled a less forceful approach in enacting stimulus measures. This article analyzes the
The price of Brent crude oil has been on the rise for three consecutive days, reaching $79.00 per barrel as of today. This surge can be attributed to the unfolding events in the Red Sea, where transportation disruptions could potentially impact crude oil supply. With numerous tankers carrying energy carriers passing through these waters, any