The EUR/USD pair has recently seen a recovery wave from the 1.0600 zone, signaling a possible bullish trend. A key bullish trend line has formed with support at 1.0680, indicating potential for further upward movement. While the pair faced resistance at 1.0740, there is optimism for a clear break above the 1.0775 zone which could
Technical Analysis
The GBP/USD pair is currently in the midst of a recovery wave from the 1.2300 level. It started an upward movement above the 1.2400 resistance, indicating a positive trend for the British Pound. However, there is a key bearish trend line forming with resistance near 1.2520 on the daily chart of GBP/USD at FXOpen. This
The US 100 cash index is currently in the red, trading slightly below the 100-day simple moving average. Despite recent positive earnings, market sentiment remains bearish as investors await key US data releases. Momentum indicators are mostly bearish, with the Average Directional Movement Index (ADX) pointing towards a bearish trend and the Relative Strength Index
When considering the trends exhibited by WTI oil futures, it is clear that a bullish channel has been maintained since December. This bullish trend has been evident since the price reached a low of 69.97 and surged to a six-month high of 86.90 on April 12. Despite a recent pullback from this peak, the price
The GBP/USD pair has experienced a recent downtrend, breaking below key support levels and testing the 1.2300 zone. However, there are signs of a potential recovery as the pair has started to move higher. On the 4-hour chart, GBP/USD has managed to surpass the 23.6% Fibonacci retracement level and also broke a bearish trend line
Gold has experienced a significant pullback this week, dropping to $2300 per troy ounce. The decline since Friday has been over 3.7%, with the trigger being a less severe escalation in the Palestinian-Israeli conflict than initially anticipated. Despite the recent pullback, many analysts view this as a much-needed technical correction. There is a possibility that
The AUD/USD pair has been on an upward trend for two consecutive days, reaching a one-week high near 0.6453. This positive movement follows a period of rapid decline and is supported by encouraging economic data from Australia. The latest manufacturing PMI report for April showed a significant increase to 49.9 points, up from 47.3 the
Gold prices recently experienced a downside correction from its recent high of $2,430. The price traded below a key bullish trend line with support at $2,375 on the 4-hour chart. This correction led to a breach of the 23.6% Fib retracement level of the previous upward move from $2,147 to $2,431. Additionally, the price is
EURJPY is currently showing signs of upward movement, with the bulls gearing up to challenge the recent 165.34 high. Despite attempts by the bears to push the pair lower, the ascending trendline from December 7, 2023, has remained intact. The threat of intervention from Japanese officials, along with the upcoming BoJ meeting and dovish remarks
With gold prices surpassing $2400.00 USD and reaching a new all-time high, it is evident that market demand for “safe-haven” assets is on the rise. The current economic and geopolitical landscapes are rife with uncertainty, leading investors to seek out stable and secure investment options. The escalating tensions in the Middle East have only exacerbated
Upon examining the short term Elliott Wave view in EURJPY, it is evident that the rally to 165.35 marked the end of wave 3. The subsequent wave 4 pullback unfolded as a double three Elliott Wave structure. The detailed breakdown of the waves, such as wave ((w)), wave ((x)), wave (w), wave (x), and wave
The short-term Elliott Wave view in Nikkei Futures (NKD) indicates that the rally to 40960 marked the end of wave 3. Currently, the market is experiencing a pullback in wave 4, which is unfolding as a double three Elliott Wave structure. The downward movement from wave 3 saw wave (a) ending at 40025 and wave