Technical analysis of Forex market

GBP/USD Freefall: Where Will It Stop?

Cable traders will remember today for a LONG time. The UK government’s announcement of a “mini” budget cutting taxes and capping energy bills has spooked international investors, leading to a ...
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Gold Falls Below $1650 as US Dollar Soars

On the back of fresh data via the PMI flashes out of the EU and UK, which showed that both economies are in contractionary territory, the EUR/USD and GBP/USD are ...
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GBP/USD: Sterling Falls to New Multi-year Low after Disappointing Data

Cable accelerates below 1.12 mark on Friday and hit new lowest since 1985, in extension of steep bear-leg from 1.1738 (Sep 13 lower top), which is a part of larger ...
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USD/JPY Dips As Bulls Take Breather, Gold Consolidates

Key Highlights USD/JPY started a downside correction from the 145.90 high. It broke a major bullish trend line at 143.75 on the 4-hours chart. Gold price is still consolidating below ...
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CHFJPY Sinks to 2-Week Low; Bullish Structure Intact

CHFJPY lost almost 2.0% within two hours during Thursday’s European trading hours, plunging to a two-week low of 143.92 before edging slightly higher. The technical oscillators followed the price sharply ...
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AUDUSD Wave Analysis

AUDUSD broke key support level 0.6700 Likely to fall to support level 0.6600 AUDUSD currency pair recently broke the key support level 0.6700 (previous monthly low from July, which also ...
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US Dollar Index Reaches Highest Level Since June 2002 ahead of the Fed

The US Dollar Index (DXY) reached its highest level in over 20 years today rising to an intra-day high of 110.87, eclipsing the September 7th highs of 110.79. With the ...
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XAG/USD: The Price in Bearish Correction (b) May Fall to 15.055

XAGUSD seems to be forming a correction wave b of the cycle degree, which is part of the global zigzag. It is assumed that the correction b is a primary ...
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AUD/USD At Risk of More Losses, Fed Decision Next

Key Highlights AUD/USD declined below the key support at 0.6780. It is facing resistance near 0.6750 and 0.6780 on the 4-hours chart. Gold and crude oil price is showing signs ...
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EUR/USD: Euro Loses Steam on Disappointing Economic Data, All Eyes on Fed

The Euro turned to red in European trading on Tuesday, following a four-day recovery after a sharp post-US inflation report’s drop. Bounce rose above parity level but failed to register ...
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Natural Gas Futures Drop Sharply after Rebound Falters

Natural gas futures (October 2022 delivery) have drifted lower again after their recent advance failed to cross above the 9.210 mark. Even though the latest downward spike seems to have ...
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GBP/USD: Cable Falls to Multi-Decade Lows as Downbeat UK Data Add to Negative Outlook

Sterling falls further on Friday and breaks below 1.14 mark vs dollar, trading at the lowest levels since 1985 during the European session. In addition to persisting pressure from strong ...
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EUR/USD Pair is Now Consolidating Losses Near $1.0000

The Euro started a fresh decline from well above the 1.0150 level against the US Dollar. The EUR/USD pair declined below the 1.0100 and 1.0080 support levels. There was close ...
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GBPUSD Revisits Pandemic Lows as Bears Persist

GBPUSD corrected forcefully to the downside early on Friday, breaking below the critical 1.1400 pandemic low, where the bears halted the 2022 downtrend on September 7. The MACD is extending ...
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USDCAD Storms to Fresh 22-Month High

USDCAD has been in an uptrend since early August when the price encountered strong support at the 200-day simple moving average (SMA). Moreover, in the past few sessions, the technical ...
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USD/JPY Could Correct Gains, Gold Takes A Hit

Key Highlights USD/JPY seems to be forming a double top near 145.00. It is testing a major bullish trend line at 142.85 on the 4-hours chart. Gold price declined heavily ...
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Ethereum Quiet Within a Triangle Range

Ethereum (ETHUSD) has been in the red so far this week, gradually retreating after almost touching the 1,800 round level. Despite the soft negative mood, the short-term bias has not ...
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Crude Oil Price Could Gain Bullish Momentum, Gold Consolidates

Key Highlights Crude oil price started a steady increase above the $85 resistance. It broke a major bearish trend line with resistance at $87.50 on the 4-hours chart. Gold price ...
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Brent is Stressed Again

The commodity market remains extremely volatile. On Monday, a Brent barrel is declining to 91.50 USD and looks unstable. Previously, the market was afraid that Russia will cut down on ...
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USD/CAD Seen in Late Stages of an Ending Diagonal

USDCAD is coming lower, after 75bp increased by BoC, but Rogers noted that the rates will need to be rised further. At the same time, we see USD making a ...
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