Daily Market Forecast By Capitalcore

Discussion in 'Forex - Currencies Forums' started by Capitalcore, Jun 7, 2024.

  1. Capitalcore

    Capitalcore Senior Investor

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    BTC/USD Price Action Forecast for H4 Chart

    Bitcoin, often nicknamed "Digital Gold," is paired with the US Dollar (BTCUSD), creating one of the most watched forex and cryptocurrency trading pairs in global markets. BTCUSD represents the exchange rate between the decentralized cryptocurrency Bitcoin and the fiat USD, showcasing its susceptibility to both crypto-specific developments and USD macroeconomic trends. Today, key USD-related events such as the Producer Price Index (PPI), NFIB business sentiment, and a speech by a Federal Reserve member will likely influence market dynamics. A higher-than-expected PPI indicates inflationary pressure, which could strengthen the USD and potentially dampen BTCUSD's bullish movements. Conversely, dovish signals from Federal Reserve commentary could support Bitcoin's bullish recovery.
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    Chart Notes:
    • Chart time-zone is UTC (+02:00)
    • Candles’ time-frame is 4h.

    The BTC USD H4 chart indicates significant bullish momentum as recent candles sharply increased, breaking through key resistance levels. Initially moving below the Ichimoku Cloud, the BTC/USD price has now pierced the lower boundary and is challenging the upper boundary near the Fib 0.5 retracement level. The Fib 0.5 level aligns with the cloud's top line, creating a critical resistance zone. Concurrently, the MACD indicator and histogram show bullish crossovers, signaling increasing bullish momentum. If BTC-USD manages to close above this confluence zone, it could aim for higher Fibonacci levels. However, failure to break above this level may result in consolidation or a retracement.

    • DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

    Capitalcore
     
  2. Capitalcore

    Capitalcore Senior Investor

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    EURUSD Forecast: CPI Impact and Technical Levels


    The EUR/USD forex pair, often nicknamed "Fiber," is one of the most heavily traded currency pairs globally, representing the exchange rate between the Euro and the US Dollar. Known for its liquidity and volatility, this pair’s forecast reflects economic and monetary policy dynamics in the Eurozone and the United States.

    For today’s EURUSD fundamental overview, the market’s attention is focused on U.S. inflation data, including the Core Consumer Price Index (CPI) and CPI metrics, which are pivotal indicators of economic health and influence the Federal Reserve's monetary policy. Additionally, speeches by prominent Federal Reserve officials, including Richmond and Minneapolis Fed Presidents, could provide further clues regarding the Fed's interest rate strategy. On the Eurozone side, wholesale price index figures and manufacturing production updates are expected to have a relatively moderate impact, with the focus remaining on the broader inflationary trends. As traders assess these data points, the EURUSD prices may see heightened volatility, especially if the inflation data outperforms or underperforms forecasts.
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    Chart Notes:
    • Chart time-zone is UTC (+02:00)
    • Candles’ time-frame is 4h.

    The H4 chart of EURUSD indicates an ongoing recovery from recent lows, with the pair’s price action attempting to breach the upper Bollinger Band. The Bollinger Bands show widening, which often signals increasing volatility. The Fiber is trading near the middle and upper bands, suggesting its bullish trend may continue if resistance levels are broken.

    The MACD (Moving Average Convergence Divergence) indicator shows bullish divergence, with the MACD line crossing above the signal line and histogram bars turning positive. This setup further confirms the likelihood of upward momentum. However, a rejection from the current resistance zone could trigger a reversal to test the middle or lower Bollinger Band. Overall, traders should monitor key resistance at 1.0320 and support near 1.0190 for directional cues.

    • DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.


    Capitalcore
     
  3. Capitalcore

    Capitalcore Senior Investor

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    GBPUSD H4 Technical Indicators and Trends

    The GBPUSD, often referred to by its nickname "Cable," is one of the most actively traded currency pairs in the forex market. It represents the exchange rate between the British Pound (GBP) and the United States Dollar (USD). Today’s upcoming news on UK RICS House Price Balance and UK GDP data, coupled with key USD figures like retail sales and jobless claims, can significantly influence the pair's price movements. A positive GDP and RICS figure may signal economic resilience in the UK, boosting GBP strength, while stronger-than-expected US retail sales or a hawkish stance from the Fed President could drive USD gains. These opposing fundamentals suggest potential volatility, with traders keeping a close eye on the economic calendar.
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    Chart Notes:
    • Chart time-zone is UTC (+02:00)
    • Candles’ time-frame is 4h.

    From the uploaded H4 GBPUSD chart, the price action indicates a tentative bullish trend recovery but remains below the Ichimoku cloud and the 0.236 Fibonacci retracement level at 1.22668. The pair attempted to break this level but faced strong resistance, failing to maintain momentum above it. Indicators such as the MACD and histogram show divergence, with the histogram moving closer to the zero line but not yet signaling a confirmed reversal. The Ichimoku cloud acts as dynamic resistance, suggesting further consolidation or a potential retest of lower support levels before a decisive breakout occurs.

    • DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

    Capitalcore
     
  4. Capitalcore

    Capitalcore Senior Investor

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    SILVERUSD Price Action and Resistance Levels Analysis

    The SILVER/USD pair, also known as XAG/USD, represents the value of silver in terms of US dollars. Silver, often referred to as "the poor man's gold," is a widely traded precious metal that serves as both a safe-haven asset and an industrial commodity. Trading this pair provides valuable insights into the global economic outlook, as its price is influenced by factors such as inflation, interest rates, and industrial demand. Today’s key USD-related news, including Residential Building Permits and Housing Starts data, could indirectly impact SILVERUSD. Strong results could strengthen the USD, creating downward pressure on silver prices. Additionally, the upcoming Federal Reserve reports on Capacity Utilization and Factory Output may provide further market signals. A stronger-than-expected USD performance could dampen silver’s appeal as a hedge against currency depreciation. However, persistent market uncertainty and potential economic slowdowns maintain silver's safe-haven status, suggesting a balanced outlook for the pair in the short term.
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    Chart Notes:
    • Chart time-zone is UTC (+02:00)
    • Candles’ time-frame is 4h.

    On the H4 chart, SILVER/USD has been in a bullish trend but is now showing signs of a potential reversal. The last two bearish candles suggest reduced buying momentum, while the MACD indicator shows weakening bullish momentum with the histogram approaching neutral levels. Despite this, the price remains above the Ichimoku Cloud, indicating that the uptrend may still hold as support levels remain intact. The thickening cloud provides a strong support zone below the current price. Traders should closely watch for confirmation of a bearish reversal or a continuation of the uptrend, depending on whether the MACD crosses into bearish territory and price action breaks below the cloud.

    • DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

    Capitalcore
     
  5. Capitalcore

    Capitalcore Senior Investor

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    EURUSD H4 Price Action Insights

    The EUR USD currency pair, also known as "Fiber," represents the exchange rate between the Euro and the US Dollar and is the most traded currency pair in the forex market. As a barometer of the Eurozone and US economies, it often reacts to macroeconomic data and geopolitical events. Today, the Eurozone's Producer Price Index (PPI) and insights from the World Economic Forum (WEF) and Eurogroup discussions could provide key economic clues. The PPI’s influence on inflation and remarks from influential figures at Davos may steer the Euro's direction. On the other side, US markets observe Martin Luther King Jr. Day, signaling low liquidity and irregular volatility for the Dollar.
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    Chart Notes:
    • Chart time-zone is UTC (+02:00)
    • Candles’ time-frame is 4h.

    The uploaded EUR/USD H4 chart highlights a prevailing bearish trend, with four bearish candles in the last six sessions. Despite the bearish momentum, recent bullish candles suggest a potential attempt to reverse. The EUR-USD price is currently in the middle of the Ichimoku cloud, attempting to break above it. The flat upper cloud line reflects indecisiveness, often an indication of consolidation. The MACD indicator shows bullish momentum, with the histogram turning positive and MACD lines crossing upward. However, the broader trend remains bearish, and a decisive break above the cloud will be needed for confirmation of a trend reversal.

    • DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

    Capitalcore
     
  6. Capitalcore

    Capitalcore Senior Investor

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    GBPCAD Forex Pair Overview

    The GBPCAD currency pair represents the exchange rate between the British Pound (GBP) and the Canadian Dollar (CAD), often referred to as "Loonie" for the CAD. It is an essential currency pair in the forex market, reflecting the economic conditions of both the United Kingdom and Canada. The pair is sensitive to geopolitical events, oil price fluctuations (since Canada is a major oil exporter), and economic data releases from both nations.
    Today's economic data will likely impact the GBPCAD pair, as both the UK and Canadian economies release key indicators. The GBP is set to release the Claimant Count Change, Average Earnings Index, and Unemployment Rate, which are expected to show a slight uptick in earnings and stable employment. These figures should support the strength of the Pound in the short term. On the other hand, the CAD will publish its Consumer Price Index (CPI) data, with the m/m change expected to show deflationary pressures (-0.7% vs 0.0% forecast). A weaker CPI might indicate cooling inflation in Canada, potentially weakening the Loonie. As such, GBPCAD could see volatility depending on these releases, with traders paying close attention to inflation data from Canada and employment figures from the UK.
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    Chart Notes:
    • Chart time-zone is UTC (+02:00)
    • Candles’ time-frame is 4h.

    Looking at the GBPCAD H4 chart, the price has recently started a bullish move and is currently touching the Ichimoku Cloud. However, there are signs that the bullish momentum may be fading. The Ichimoku Cloud is currently red, indicating that the market is in a bearish phase, and this could reverse the recent upward movement. The MACD is showing negative divergence, as the price is rising while the indicator is trending lower, a typical sign of weakening bullish momentum. This divergence suggests that the market could be nearing a peak and might reverse into a bearish phase. Traders should be cautious, as the price's interaction with the cloud could signal the start of a potential bearish trend.

    • DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

    Capitalcore
     
  7. Capitalcore

    Capitalcore Senior Investor

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    GOLD Price Action and Technical Insights for H4

    GOLD USD, also known as "XAU/USD," is a popular currency pair that reflects the exchange rate between Gold and the US Dollar. Known for its role as a safe-haven asset, Gold is sensitive to both economic data and geopolitical events. Today’s USD news, including weekly jobless claims and crude oil inventory data, will be pivotal. Lower-than-expected unemployment claims could strengthen the USD, potentially pressuring Gold. Meanwhile, discussions at the World Economic Forum could drive significant volatility. With market sentiment hinging on these developments, traders are closely monitoring GOLD/USD price movements for potential opportunities.
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    Chart Notes:
    • Chart time-zone is UTC (+02:00)
    • Candles’ time-frame is 4h.

    The GOLDUSD price on the H4 chart remains in a bullish trend, trading within a clearly defined ascending channel. The price is currently above the Ichimoku Cloud, a strong indication of sustained bullish momentum. Additionally, the Gold price has successfully broken above the 0.236 Fibonacci retracement level, signaling the potential for further upside toward the 0.382 Fibonacci level at $2,771.96. The MACD indicator supports this bullish outlook, with the MACD line above the signal line and a positive histogram showing strengthening momentum. The channel's structure, with consistent higher highs and higher lows, emphasizes the strength of the current trend. Traders should watch for further price consolidation above the cloud and Fibonacci levels to confirm continued bullish movement.

    • DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

    Capitalcore
     
  8. Capitalcore

    Capitalcore Senior Investor

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    USDJPY Fundamental and Technical Overview Today

    The USD/JPY currency pair, often referred to as "The Ninja," represents the exchange rate between the US Dollar and the Japanese Yen. As a major currency pair, USDJPY is influenced heavily by economic fundamentals and monetary policies from both the United States and Japan. Today’s news agenda highlights key Japanese CPI data and PMI indicators, alongside critical US PMI releases and housing market updates. The Japanese CPI data, measuring inflation trends, and PMI figures, indicating manufacturing activity, are central to Yen volatility. Simultaneously, US PMI updates and housing data could influence the dollar by reflecting the underlying economic strength. A higher-than-expected CPI for Japan could strengthen the Yen, while robust US PMI figures might bolster the dollar, creating potential turbulence for USD JPY movements.
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    Chart Notes:
    • Chart time-zone is UTC (+02:00)
    • Candles’ time-frame is 4h.

    The USDJPY price action on the H4 chart exhibits a persistent bearish trend, with the pair recently breaking below the Ichimoku cloud—indicating sustained downward momentum. Currently, the price is trading below the 0.786 Fibonacci retracement level, suggesting further potential downside movement toward the 1.0 Fib level. RSI readings hover near oversold territory but have yet to confirm a reversal. The descending trendline above the price action reflects strong bearish pressure, and the RSI's bearish divergence supports the case for continued selling. Unless there’s a catalyst from today’s news, USDJPY could test lower support zones, with 155.140 being a key level to monitor.

    • DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

    Capitalcore
     
  9. Capitalcore

    Capitalcore Senior Investor

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    EUR/USD H4 Chart Technical Outlook Today

    The EUR/USD, often referred to as "Fiber," is the most traded currency pair globally, representing the Eurozone’s euro against the United States dollar. As a major forex pair, it reflects the economic interplay between the European Union and the United States, with its price action influenced heavily by macroeconomic data and monetary policy announcements. Today's focus is on key events, including a speech by ECB President Christine Lagarde and business confidence reports from the Eurozone. Lagarde's remarks could provide valuable insights into the ECB's monetary policy trajectory, potentially signaling upcoming rate hikes, which would boost the euro. Additionally, German ifo Business Climate and Belgium NBB Confidence data will gauge sentiment within the Eurozone’s economy, with stronger-than-expected results likely to reinforce EUR strength. On the USD side, the New Home Sales report offers insights into the U.S. housing market, a critical economic barometer. Together, these events create a volatile environment for the EURUSD.
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    Chart Notes:
    • Chart time-zone is UTC (+02:00)
    • Candles’ time-frame is 4h.

    The EUR-USD H4 chart reveals a pivotal moment. The price is currently above the Ichimoku cloud, signaling a bullish trend. However, the Senkou Span B line is starting to flatten, hinting at potential trend exhaustion. After testing and reacting to the resistance from the upward trendline, the EUR USD price is now correcting downward, aiming toward the support level at 1.04465. The MACD indicator shows weakening momentum, as its histogram begins to shrink and the signal line prepares for a possible bearish crossover. This correction may provide opportunities for re-entry on a dip near support levels.

    • DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

    Capitalcore
     
  10. Capitalcore

    Capitalcore Senior Investor

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    EURUSD Price Action Analysis Trading Strategies and Outlook

    The EUR/USD, often referred to as the "Fiber," is the most traded currency pair in the forex market, representing the economies of the Eurozone and the United States. As the world's most liquid currency pair, it is highly sensitive to macroeconomic indicators and central bank policies. Today's fundamental outlook for EUR-USD is influenced by key U.S. data releases, including the Core PCE Price Index, which is the Federal Reserve’s preferred measure of inflation. If inflation comes in higher than forecast, it could strengthen the USD as it would increase the likelihood of further Fed tightening. Additionally, the U.S. Employment Cost Index will provide insight into labor costs, another key factor for inflation. Fed Governor Michelle Bowman's speech could also bring volatility if any hawkish remarks suggest further rate hikes. Personal income and spending data will be crucial in assessing consumer strength, with higher spending potentially reinforcing a stronger dollar. Meanwhile, the Chicago PMI will shed light on business activity. If today's U.S. economic indicators come in stronger than expected, the USD could gain momentum, pressuring EUR USD lower.
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    Chart Notes:
    • Chart time-zone is UTC (+02:00)
    • Candles’ time-frame is 4h.

    From a technical analysis perspective, the H4 EUR/USD chart shows a clear shift in trend dynamics. The Fiber pair had been in a strong uptrend (green trendline) but encountered resistance near the 1.0545 Fibonacci retracement level (23.6%), leading to a pullback. Currently, the price has broken below the Ichimoku cloud, which is still green but narrowing; indicating a weakening bullish momentum. The EUR USD price is hovering inside the cloud, testing the critical 0.618 Fibonacci retracement level (1.0398), which is acting as an important support level. This area aligns with previous price reactions and the lower boundary of the Ichimoku cloud, making it a potential turning point. If this support level holds, EURUSD might consolidate before a potential bullish attempt. However, a clear breakdown below the cloud would confirm a bearish shift. The RSI is currently around 43.46, reflecting weak momentum, and the downward slope suggests further bearish potential unless it finds support. The short-term outlook remains cautious, with 1.0398 as a key level to watch; a decisive break below could accelerate selling pressure towards 1.0311 (Fib 0.786), while a rebound could bring another test of 1.0457 resistance.

    • DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

    Capitalcore
     

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