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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    EURUSD Technical Analysis – 13th MAR, 2024

    EURUSD – Resistance of Channel is Broken
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    EURUSD continued its bullish momentum today after the consolidation phase and managed to touch a high of 1.0963 in the US trading session after which we can see some consolidation coming into the markets.
    We are now looking to re-enter the bullish zone after the current wave of consolidation gets over and touch the 1-months high of 1.0980 soon.
    We can see that the resistance of the channel is broken in the 1-hourly timeframe indicating a bullish tone present in the markets.

    The Aroon indicator is giving a bullish trend signal in the 4-hourly timeframe.
    Some of the technical indicators are also giving a neutral tone indicating the presence of the consolidation wave at present in 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 1.0980 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 1.0920 mark.
    • Short-term range appears to be Neutral.
    • EURUSD continues to remain above the 1.0950 levels.
    • Average true range ATR is indicating high market volatility.

    The next resistance is located at 1.0975 which is a Price 3 Standard Deviations Resistance.
    EURUSD is now trading below its Pivot levels of 1.0957 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0942 and is moving towards its next target of 1.0980.

    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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    GBPUSD Technical Analysis – 13th MAR, 2024

    GBPUSD – Bullish Trend Reversal
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    GBPUSD was indecisive today moving in a zigzag pattern after which we can see some fresh bullish confirmations coming into the markets.
    The prices of Pound are expected to enter into a consolidation zone after which we can see some upwards correction towards the 1.2838 levels.
    We can see the formation of Bullish Trend Reversal pattern with Moving Average MA50 in the 1-hourly timeframe.

    We have also detected the formation of Ichimoku - Bullish crossover: Tenkan & Kijun pattern in the 1-hourly timeframe which is a bullish pattern.
    The RSI indicator is back over 50 in the 2-hourly timeframe indicating a Bullish tone present in the markets.

    GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average.
    • Pound bullish reversal seen above the 1.2775 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 1.2813 after which we can see an upwards bullish pressure towards the 1.2851 levels which is a 3-10 Day MACD Oscillator Stalls.

    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
     
  3. FXOpen Trader

    FXOpen Trader Senior Investor

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    EURUSD Technical Analysis – 20th MAR, 2024

    EURUSD – Bullish Trend Reversal
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    EURUSD started this week on a bearish note touching a low of 1.0834 on 19th March after which we can see that the prices have entered into a consolidation channel.
    Today we saw that the prices of EURUSD were able to manage a breakout and we saw the emergence of a bullish momentum with a continuous uptick in the prices of EURUSD.
    We can see the formation of Bullish Trend Reversal pattern with the Adaptive Moving Average AMA20, AMA50 and AMA100 in the 4-hourly timeframe.

    The MACD indicator is back over zero in the 2-hourly timeframe indicating a bullish tone present in the markets.
    Most of the technical indicators are giving a bullish tone with further upsides located at 1.0943 which is a 14-3 Day Raw Stochastic at 80%.
    In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0948 at which the Price Crosses 9 Day Moving Average Stalls.

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

    • Euro bullish reversal seen above the 1.0936 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 1.0943 which is a 14-3 Day Raw Stochastic at 80%.
    EURUSD is now trading above its Pivot levels of 1.0915 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0907 and is moving towards its next target of 1.0948.

    Disclaimer: 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. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

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

    FXOpen Trader Senior Investor

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    GBPUSD Technical Analysis – 20th MAR, 2024

    GBPUSD – Resistance of Channel is Broken
    [​IMG]

    GBPUSD opened this week on a bearish note and touched a low of 1.2666 on 19th March after which we can see the prices moving towards the consolidation phase in the markets.
    Today we saw a bullish breakout in the markets with the prices of GBPUSD touching a high of 1.2786 in the US Trading session.
    The Resistance of the channel is broken in the 1-hourly timeframe. We can also see the formation of Moving Average Bullish crossovers: AMA20 and AMA50 in the 1-hourly timeframe.

    We have also detected the formation of Bullish Harami pattern in the weekly timeframe.
    Some of the technical indicators are also giving a neutral stance indicating the presence of the consolidation wave in the markets.

    GBPUSD is now trading above its 100-hour SMA and its 200-hour SMA simple moving average.

    • Pound bullish reversal seen above the 1.2683 mark.
    • Short-term range appears to be Neutral.
    • GBPUSD continues to remain above the 1.2770 levels.
    • Average true range ATR is indicating high market volatility.

    GBPUSD is now trading above its Pivot levels of 1.2779 and is moving into a Consolidation channel.

    The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2791 after which we can see an upwards bullish pressure towards the 1.2808 at which the Price Crosses 9 Day Moving Average Stalls.
    GBPUSD is poised to continue its bullish moves with the immediate targets of 1.2835 which is a 14-3 Day Raw Stochastic at 80%.

    Disclaimer: 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. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

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

    FXOpen Trader Senior Investor

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    The price of the S&P 500 set a historical record amid news from the Fed
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    On March 14, we wrote: “The US500 stock index market is showing signs of positivity, indicating that an attempt to overcome the resistance of 5,200 points with a new record high may be made in the near future.” Yesterday's event created the momentum that allowed the bulls to do this.

    On Wednesday evening it became known that it was decided to keep the interest rate at 5.5% in the US — this was expected. What market participants paid more attention to was the dovish tone of the Fed. Thus, it became known that by the end of 2024 there may be 3 consecutive rate cuts.

    According to Jerome Powell:
    → recent inflation data turned out to be hotter than expected;
    → however, “in fact, the overall story has not changed, it is a gradual decline in inflation along a somewhat bumpy road.”

    Thus, fears associated with a longer period of tight monetary policy have been dispelled. As a result, the US dollar fell in price against a number of currencies, and the US stock market index S&P 500 soared to a new historical high around the level of 5,250.

    [​IMG]

    TO VIEW THE FULL ANALYSIS, VISIT THE 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.
     
  6. FXOpen Trader

    FXOpen Trader Senior Investor

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    USD/CHF Analysis: SNB Decision Breaks Multi-month Trend
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    According to Reuters, on the sidelines of the World Economic Forum in Davos in January, the head of the Swiss National Bank (SNB) Thomas Jordan told the Swiss press that the appreciation of the franc creates problems for exporters. Thus, indicating intentions to weaken the CHF.

    His words in January seem to be in line with how events are developing — the franc has weakened against the US dollar by more than 6% since the start of the year.

    Moreover, today, quite unexpectedly, the Swiss National Bank decided to lower the interest rate: actual = 1.50%, forecast = 1.75%, previous value = 1.75%.

    The result of the decision today was a sharp weakening of the franc against other currencies, including the US dollar.

    [​IMG]

    TO VIEW THE FULL ANALYSIS, VISIT THE 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.
     
  7. FXOpen Trader

    FXOpen Trader Senior Investor

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    EURUSD Technical Analysis – 25th MAR, 2024

    EURUSD – Bullish Harami Pattern
    [​IMG]

    EURUSD started this week on a bearish note touching a low of 1.0801 today in the early Asian trading session, after which we can see that the prices have entered in a consolidation phase.
    We can see the start of a Bullish Trend from the 1.806 levels with a continued escalation in the prices of Euro towards the 1.0840 levels.
    We can see the formation of Bullish Harami pattern in the daily timeframe and now we are looking to cross 1.0866 which is a 14 Day RSI at 50%.

    The price of EURUSD is back over the pivot point in the daily timeframe indicating the presence of the bullish trend in the markets.
    The price of Euro is ranging near the support of the Channel and Triangle in the weekly timeframe.
    Most of the technical indicators are giving a bullish tone with further upsides located at 1.0866 which is a 38.2% Retracement From 4 Week Low.


    EURUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
    • Euro bullish reversal seen above the 1.0807 mark.
    • Short-term range appears to be Neutral.
    • EURUSD continues to remain above the 1.0825 levels.
    • Average true range ATR is indicating less market volatility.

    The next resistance is located at 1.0866 which is a 38.2% Retracement From 4 Week Low.
    EURUSD is now trading below its Pivot levels of 1.0838 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0835 and is moving towards its next target of 1.0866.


    Disclaimer: 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. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

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

    FXOpen Trader Senior Investor

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    GBPUSD Technical Analysis – 25th MAR, 2024

    GBPUSD – Bullish Engulfing Lines
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    GBPUSD opened this week on a bearish note from its decline last week and touched a low of 1.2594 after which we can see a continuous upsurge in its levels.
    We can see the formation of Bullish Engulfing lines in the 1-hourly timeframe.
    The Aroon indicator is giving a bullish trend in the 15-minutes timeframe.

    We have also detected the formation of Moving Average bullish crossovers: MA50 & MA100 in the 30-minutes timeframe.
    The support of the channel is broken and the prices of GBPUSD are ranging near horizontal support in the daily timeframe.

    GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average.
    • Pound bullish reversal seen above the 1.2594 mark.
    • Short-term range appears to be Neutral.
    • GBPUSD continues to remain above the 1.2620 levels.
    • Average true range ATR is indicating less market volatility.

    GBPUSD is now trading below its Pivot levels of 1.2637 and is moving into a Consolidation channel.
    The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2639 after which we can see an upwards bullish pressure towards the 1.2661 which is a 38.2% Retracement From 13 Week Low.

    GBPUSD is poised to continue its bullish moves with the immediate targets of 1.2670 which is a 14-3 Day Raw Stochastic at 30%.

    Disclaimer: 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. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

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

    FXOpen Trader Senior Investor

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    EURUSD Technical Analysis – 16th APR, 2024

    EURUSD – Bullish Trend Reversal
    [​IMG]

    EURUSD started this week moving in a zigzag pattern and we can see that the prices entered into a consolidation phase yesterday after which we can see the resumption of the Uptrend.
    We can see the formation of a Bullish Trend Reversal pattern with both the Moving Average and the Adaptive Moving averages in the 30-minutes timeframe.
    Some of the Technical Indicators are also giving a Neutral stance present into the markets.

    We can see that the MACD crosses UP its Moving Average in the 4-hourly timeframe indicating a Bullish Trend present into the markets.
    The Resistance of the channel is broken in the 15-minutes timeframe indicating the Bullish tone of the markets.

    EURUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
    • Euro bullish reversal seen above the 1.0607 mark.
    • Short-term range appears to be Neutral.
    • EURUSD continues to remain above the 1.0620 levels.
    • Average true range ATR is indicating less market volatility.

    The next resistance is located at 1.0663 which is a Price 2 Standard Deviations Resistance.
    EURUSD is now trading below its Pivot levels of 1.0627 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0601 and is moving towards its next target of 1.0663.

    Disclaimer: 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. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

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

    FXOpen Trader Senior Investor

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    GBPUSD Technical Analysis – 16th APR, 2024

    GBPUSD – Resistance of Channel is Broken
    [​IMG]
    GBPUSD opened this week on an uncertain note after which we can see that the prices have started to move towards the consolidation phase.
    We can see the resumption of the Uptrend within the Hourly chart of GBPUSD today.
    The Resistance of the Channel is Broken in the 15-minutes Timeframe.
    The MACD Indicator is back over Zero indicating the Bullish Trend formation in the 30-minutes timeframe.
    The prices of GBPUSD are ranging Near the Support of the Channel in the Daily Timeframe.
    GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average.
    • Pound bullish reversal seen above the 1.2426 mark.
    • Short-term range appears to be Neutral.
    • GBPUSD continues to remain above the 1.2440 levels.
    • Average true range ATR is indicating less market volatility.

    GBPUSD is now trading below its Pivot levels of 1.2448 and is moving into a Consolidation channel.
    The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2460 after which we can see an upwards bullish pressure towards the 1.2483 which is a 14-3 Day Raw Stochastic at 20%.

    Disclaimer: 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. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

    For in-depth analysis, please check FXOpen Blog
     

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