EUR/USD Advances to Near 1.0850
EUR/USD Advances to Near 1.0850 MARCH 26 2024 After gaining ground in Tuesday’s early European session, the EUR/USD pair is currently trading close around 1.0850. A new decline in the US dollar puts downward pressure on the pair even as risk appetite improves. mid-tier US economic data, with an eye toward ECB talk. On the […]
AUD/USD Extended the Rebound
AUDUSD Extended Rebound As the selling pressure on the Greenback subsided, the AUD/USD pair smiled again and moved up to the limits of the important 200-day SMA near 0.6550 at the start of the new trading week. If the AUD/USD gains more momentum, it may break above the March high of 0.6667 (March 8) and […]
XAUUSD Price Forecast
XAUUSD Price Forecast In Monday’s Asian trade, the price of gold is steadily rising toward the $2,200 mark as the US dollar’s recovery takes a break due to low US Treasury bond yields and a choppy state of the market. Gold price benefits from US Dollar decline With respect to its main competitors, the US […]
EUR/USD extends recovery toward 1.0850
EUR/USD Extends Recovery Toward 1.0850 EURUSD held below the 50% retracement at 1.0840 but rebounded from the 1.0694/1.0981 rally’s 61.8% Fibonacci retracement at 1.0803. Technical indicators on the daily chart indicate that the risk is still tilted to the negative as the pair continues to decline below each of its key moving averages. Simultaneously, technical […]
EURGBP – Top Down Analysis
EURGBP – Top Down Analysis Starting with the 4hr chart, RSI is suggesting a bearish correction to the upside in spite of the bullish rejection candle. Price action is still holding below the 200 SMA but I have my intraday bullish target set around that level. Let’s now take a look at why I’m only […]
AUDUSD – Top Down Analysis
Why USDCAD May Top Off Taking a look at the 4hr chart above, price action is trading within a triangle formation. The bottom level of support is actually the ascending support on the daily timeframe. Currently I’m waiting for price action to break out of this triangle but I believe a bullish breakout is more […]
Reasons Why USDCAD May Top Off
Why USDCAD May Top Off Taking a look at the daily timeframe, I pointed out several technical indications that this pair may begin to top off. Categories Market Analysis Education August 23, 2023 EURGBP – Top Down Analysis August 10, 2023 AUDUSD – Top Down Analysis August 3, 2023 Reasons Why USDCAD May Top Off […]
GBPUSD – Hit Second Target
GBPUSD – Hit Second Target Taking a look at the 1hour chart, you can see price-action is just about to hit my second target from the trade plan I post just a few days ago. See below. However, as of writing this update, I decided to take my profit early as RSI beginning to show […]
BTCUSD – Likely to Trade Lower
BTCUSD – Likely to Trade Lower Taking a look at the daily timeframe, this instrument is likely to trade lower towards the 200 SMA or around the 26000 handle. This level also lines up with the 78.6% retracement level from the most recent bullish impulse to the upside. Note that this setup is for swing […]
XAUUSD – Supported by 50 SMA
XAUUSD – Supported by 50 SMA Taking a look at the daily chart, gold is currently trading above 50 with RSI. Price-action is also supported by the 50 SMA along with other technical support levels causing a support confluence zone. Should price-action break below the 50 SMA, I would expect RSI to follow suit and […]