Daily Market Analytics - Forex

Discussion in 'Forex - Currencies Forums' started by FXOpen Trader, Feb 6, 2024.

  1. FXOpen Trader

    FXOpen Trader Senior Investor

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    GBPUSD Technical Analysis – 22nd FEB, 2024

    GBPUSD – Bullish Trend Reversal
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    GBPUSD had a strong bullish momentum today when the prices touched a high of 1.2708 after which we saw a downwards retracement in its levels touching a low of 1.2611.
    We can see that the prices remained in a consolidation channel after which we can see the resumption of the bullish trend.

    We can see the formation of Bullish Trend Reversal pattern with the Adaptive Moving Average AMA20 and AMA50 in the daily timeframe.
    The prices of GBPUSD are ranging near the support of triangle in the weekly timeframe.

    The price is back over the Pivot point in the weekly timeframe indicating the bullish tone present in the markets with immediate targets of 1.2696.
    GBPUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving average.
    • Pound bullish reversal seen above the 1.2611 mark.
    • Short-term range appears to be Mild Bullish.
    • GBPUSD continues to remain above the 1.2600 levels.
    • Average true range ATR is indicating high market volatility.

    GBPUSD is now trading below its Pivot levels of 1.2660 and is moving into a Bullish channel.
    The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2664 and the next target is located at 1.2696 which is a 14-3 Day Raw Stochastic at 70%.

    Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

    For in-depth analysis, please check FXOpen Blog
     
  2. FXOpen Trader

    FXOpen Trader Senior Investor

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    Market Analysis: AUD/USD and NZD/USD Grind Higher Steadily
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    AUD/USD is moving higher and might rally if it clears 0.6600. NZD/USD is also rising and could extend its increase above the 0.6220 resistance zone.

    Important Takeaways for AUD/USD and NZD/USD Analysis Today

    • The Aussie Dollar is moving higher from the 0.6540 zone against the US Dollar.
    • There is a key bullish trend line forming with support at 0.6555 on the hourly chart of AUD/USD at FXOpen.
    • NZD/USD is showing positive signs above the 0.6180 support.
    • There is a major bullish trend line forming with support at 0.6190 on the hourly chart of NZD/USD at FXOpen.

    AUD/USD Technical Analysis
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    On the hourly chart of AUD/USD at FXOpen, the pair remained stable near the 0.6500 zone, as discussed in the previous analysis. The Aussie Dollar formed a base and started a decent increase above the 0.6540 resistance against the US Dollar

    The bulls pushed the pair above the 0.6550 resistance zone. There was a close above the 0.6565 resistance and the 50-hour simple moving average.

    The pair is now consolidating near the 50% Fib retracement level of the downward move from the 0.6595 swing high to the 0.6542 low. On the upside, the AUD/USD chart indicates that the pair is now facing resistance near 0.6575.

    The 61.8% Fib retracement level of the downward move from the 0.6595 swing high to the 0.6542 low is also near 0.6575. The first major resistance might be 0.6600. An upside break above the 0.6600 resistance might send the pair further higher.

    The next major resistance is near the 0.6650 level. Any more gains could clear the path for a move toward the 0.6720 resistance zone.

    If not, the pair might correct lower below the 50-hour simple moving average at 0.6555. There is also a key bullish trend line forming with support at 0.6555. The next support could be 0.6540. If there is a downside break below the 0.6540 support, the pair could extend its decline toward the 0.6510 zone. Any more losses might signal a move toward 0.6450.

    VIEW FULL ANALYSIS VISIT - FXOpen Blog...

    Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
     
  3. FXOpen Trader

    FXOpen Trader Senior Investor

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    EURUSD Technical Analysis – 26th FEB, 2024

    EURUSD – Bullish Trend Reversal
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    EURUSD started this week moving into a consolidation channel after which we can see a breakout in the form of a bullish momentum touching a high of 1.0859 today in the US Trading session.
    We are now looking for some market consolidation as the prices have corrected lower, after which a fresh upside wave is expected towards the 1.0917 which is a 50% Retracement From 13 Week High/Low.

    We have seen a Bullish opening of the markets this week.
    The Momentum indicator is back over zero in the weekly timeframe indicating the bullish tone present in the markets with immediate targets of 1.0917.

    The prices of EURUSD are ranging near the support of the triangle and channel in the weekly timeframe.
    In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0897 which is a 1 Months high.

    EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.

    • Euro bullish reversal seen above the 1.0814 mark.
    • Short-term range appears to be Neutral.
    • EURUSD continues to remain above the 1.0830 levels.
    • Average true range ATR is indicating high market volatility.

    The next resistance is located at 1.0917 which is a 50% Retracement From 13 Week High/Low.
    EURUSD is now trading below its Pivot levels of 1.0848 and is moving into a Mild Bullish Channel. The price of EURUSD remains above its Classic support levels of 1.0840 and is moving towards its next target of 1.0897.

    Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

    For in-depth analysis, please check FXOpen Blog
     
  4. FXOpen Trader

    FXOpen Trader Senior Investor

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    GBPUSD Technical Analysis – 26th FEB, 2024

    GBPUSD – Aroon Indicator Bullish Trend

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    GBPUSD started his week into a consolidation channel after which we can see some upside moves touching a high of 1.2698 in the US Trading session.
    Now again the prices of Pound have entered into a consolidation wave which is expected to last for around 12 hrs.

    We can see the formation of Aroon indicator Bullish Trend in the 2-hourly timeframe.
    The prices of GBPUSD are ranging near the support of channel in the 15-minutes timeframe.

    We can see the formation of Bullish price crossover pattern with the Moving Average MA50 in the daily timeframe.
    GBPUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving average.

    • Pound bullish reversal seen above the 1.2657 mark.
    • Short-term range appears to be Mild Bullish.
    • GBPUSD continues to remain above the 1.2650 levels.
    • Average true range ATR is indicating high market volatility.

    GBPUSD is now trading below its Pivot levels of 1.2674 and is moving into a Bullish channel.
    The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2677 and the next target is located at 1.2702 which is a 38.2% Retracement From 13 Week High.

    Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

    For in-depth analysis, please check FXOpen Blog
     
  5. FXOpen Trader

    FXOpen Trader Senior Investor

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    EURUSD Technical Analysis – 05th MAR, 2024

    EURUSD – Ichimoku: price is over the cloud
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    EURUSD started this week on a bullish note and managed to touch a high of 1.0866 after which we can see some market consolidation. We are now looking to Re-enter the bullish channel after the current consolidation phase gets over.
    We can see the formation of Bullish Trend reversal pattern with adaptive moving average AMA20 in the 1-hourly timeframe.

    We can see that the Ichimoku: price is over the cloud in the 4-hourly timeframe indicating the bullish nature of the markets.
    The Williams percent range indicator is back over zero in the weekly timeframe indicating the bullish tone present in the markets with immediate targets of 1.0869.

    The prices of EURUSD are ranging near the support of the triangle and channel in the weekly timeframe.
    In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0869 which is a 3-10 Day MACD Oscillator Stalls.

    EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages:
    • Euro bullish reversal seen above the 1.08004 mark.
    • Short-term range appears to be Neutral.
    • EURUSD continues to remain above the 1.0840 levels.
    • Average true range ATR is indicating less market volatility.

    The next resistance is located at 1.0917 which is a 50% Retracement From 13 Week High/Low.
    EURUSD is now trading below its Pivot levels of 1.0852 and is moving into a Mild Bullish Channel. The price of EURUSD remains above its Classic support levels of 1.0848 and is moving towards its next target of 1.0917.


    Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

    For in-depth analysis, please check FXOpen Blog
     
  6. FXOpen Trader

    FXOpen Trader Senior Investor

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    GBPUSD Technical Analysis – 05th MAR, 2024

    GBPUSD – Price is back over the pivot point
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    GBPUSD started his week into a consolidation channel after which we can see some downside moves touching a low of 1.2670 today in the Asian trading session.
    Now again the prices of Pound have entered into a consolidation wave which is expected to last for around 12 hrs.

    We can see that the Price is back over the pivot point in the 4-hourly timeframe indicating a bullish trend present in the markets.
    We have also seen a bullish opening of the markets this week.

    We can see the formation of Bullish trend reversal pattern with the adaptive moving average AMA20 in the 1-hourly timeframe.

    GBPUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving average:
    • Pound bullish reversal seen above the 1.2600 mark.
    • Short-term range appears to be Mild Bullish.
    • GBPUSD continues to remain above the 1.2670 levels.
    • Average true range ATR is indicating less market volatility.

    GBPUSD is now trading below its Pivot levels of 1.2682 and is moving into a Bullish channel.
    The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2691 and the next target is located at 1.2702 which is a 38.2% Retracement From 13 Week High.

    Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

    For in-depth analysis, please check FXOpen Blog
     
  7. FXOpen Trader

    FXOpen Trader Senior Investor

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    EURUSD Technical Analysis – 11th MAR, 2024

    EURUSD – Bullish Trend Reversal
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    EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0980 on 8th March we saw downwards retracement towards the lows of 1.0914 seen today in the US trading session.
    We can see that the prices of Euro have now stabilized and are looking to enter into a consolidation zone after which we can see some upwards recovery.
    We can see the formation of Bullish Trend reversal pattern in both the 15-minutes and weekly timeframes.
    The MACD crosses UP its Moving Average in the weekly timeframe.

    The prices of EURUSD are ranging near the support of the triangle in the weekly timeframe indicating the bullish nature of the markets.
    In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0959 which is a 61.8% Retracement from the 52 Week Low.

    EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.
    • Euro bullish reversal seen above the 1.0870 mark.
    • Short-term range appears to be Neutral.
    • EURUSD continues to remain above the 1.0900 levels.
    • Average true range ATR is indicating high market volatility.

    The next resistance is located at 1.0969 which is a 38.2% Retracement From 13 Week High.
    EURUSD is now trading below its Pivot levels of 1.0923 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0917 and is moving towards its next target of 1.0959.

    Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

    For in-depth analysis, please check FXOpen Blog
     
  8. FXOpen Trader

    FXOpen Trader Senior Investor

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    GBPUSD Technical Analysis – 11th MAR, 2024

    GBPUSD – Resistance of Channel is Broken
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    GBPUSD was unable to sustain its bullish momentum and after touching a high of 1.2883 we saw downwards retracement towards the low of 1.2795 formed today in the US trading session.
    The prices of Pound are expected to enter into a consolidation zone after which we can see some upwards correction.
    We can see that the Resistance of the channel is broken in the daily timeframe indicating a bullish trend present in the markets.
    We have also seen a bullish opening of the markets this week.

    We can see the formation of Bullish trend as the prices of GBPUSD are ranging near horizontal support in both the 15-minutes and 1-hourly timeframes.
    GBPUSD is now trading above its 100-hour SMA and its 200-hour SMA simple moving average.
    • Pound bullish reversal seen above the 1.2700 mark.
    • Short-term range appears to be Neutral.
    • GBPUSD continues to remain above the 1.2800 levels.
    • Average true range ATR is indicating high market volatility.

    GBPUSD is now trading below its Pivot levels of 1.2805 and is moving into a Consolidation channel.
    The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2830 which is a 14-3 Day Raw Stochastic at 80%.

    Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

    For in-depth analysis, please check FXOpen Blog
     
  9. FXOpen Trader

    FXOpen Trader Senior Investor

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    EURUSD Technical Analysis – 12th MAR, 2024

    EURUSD – Bullish Price Crossover
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    EURUSD continues to move into a consolidation channel having touched a high of 1.0938 after which we can see some minor correction downwards towards a low of 1.0921 levels.
    The prices of EURUSD are looking to enter into a bullish channel with the formation of Bullish price crossover pattern in both the 15-minutes and 1-hourly timeframes.
    We can see the formation of Parabolic SAR indicator bullish reversal pattern in the 30-minutes timeframe.
    The MACD crosses UP its Moving Average in the 15-minutes timeframe.

    We have also seen the formation of Bullish Harami pattern in the daily timeframe.
    In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0969 which is a 38.2% Retracement From 13 Week High.

    EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.
    • Euro bullish reversal seen above the 1.0915 mark.
    • Short-term range appears to be Neutral.
    • EURUSD continues to remain above the 1.0900 levels.
    • Average true range ATR is indicating less market volatility.

    The next resistance is located at 1.0969 which is a 38.2% Retracement From 13 Week High.
    EURUSD is now trading below its Pivot levels of 1.0931 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0928 and is moving towards its next target of 1.0969.

    Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

    For in-depth analysis, please check FXOpen Blog
     
  10. FXOpen Trader

    FXOpen Trader Senior Investor

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    GBPUSD Technical Analysis – 12th MAR, 2024

    GBPUSD – Moving Average Bullish Crossover
    [​IMG]
    GBPUSD was unable to sustain its bullish momentum and after touching a high of 1.282 we saw downwards retracement towards the low of 1.2776 formed today in the European trading session.
    The prices of Pound are expected to enter into a consolidation zone after which we can see some upwards correction.
    The RSI indicator is back over 50 in the 4-hourly timeframe indicating a bullish trend present in the markets.

    The prices of GBPUSD are ranging near horizontal support in the 1-hourly timeframe.
    We can see the formation of Moving Average bullish crossovers with MA20 and MA50 in the daily timeframe.

    GBPUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving average.
    • Pound bullish reversal seen above the 1.2749 mark.
    • Short-term range appears to be Neutral.
    • GBPUSD continues to remain above the 1.2780 levels.
    • Average true range ATR is indicating less market volatility.

    GBPUSD is now trading below its Pivot levels of 1.2794 and is moving into a Consolidation channel.
    The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2803 after which we can see an upwards bullish pressure towards the 1.2835 levels which is a 14-3 Day Raw Stochastic at 80%.

    Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

    For in-depth analysis, please check FXOpen Blog
     

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