While the Eurozone seems relatively quiet on the fundamental front, the Japanese yen appears more active. Consequently, this has created some headwinds in the market, driving it lower. At this point, price action has broken through a key support level. Let’s see how the market may proceed from here. Key Price Levels:Resistance Levels: 160.00, 165.00,…
Fundamentals surrounding the US dollar suggest that the greenback is gaining traction. Consequently, this has initiated a continued downward correction in the GBP/USD pair. From the better-than-expected Nonfarm payroll data to the decreasing unemployment rate, the US seems to be performing well. This may influence the upcoming rate cut. Key Price Levels:Resistance Levels: 1.3100, 1.3250,…
Market Analysis: GBPJPY Market to Commence New Bearish Momentum The GBPJPY pair has recently deviated from its previous bullish trend, marked by a noticeable shift in market sentiment. This change was highlighted by a series of significant bearish candlesticks, interrupted only by occasional bullish retracements. The downward movement found support at the 179.980 level, from…
EURCHF Continues to Struggle as Bearish Momentum Persists in the Market The EURCHF price is struggling to gain momentum as bearish sentiment continues to dominate. The currency pair has faced significant challenges in making substantial gains in the current market environment, with sellers consistently outweighing the efforts of buyers trying to push prices higher. EURCHF…
The AUD/USD experienced a sharp downward retracement last Thursday as the market anticipated the Federal Reserve interest rate decision. Currently, the Australian government is attempting to stabilize the economy due to slow growth, which has caused the Aussie dollar to lose its momentum. As a result, the pair saw a significant drop below the 0.6700…
Weekly FX Chart Outlook Run for the exits! After whipsaw trading following a weaker US jobs report, the market has to pick up the pieces after a tough end to the week where it ended in a risk off mood led by the sell-off in stocks.. In the week ahead, the focus will…
Newsquawk Week Ahead: 9th-13th September – Forex Forum September 7, 2024 /Posted byGVI Forex / 340 / Source link
EUR/USD: Markets Await ECB and Fed Meetings ● If the US economy is growing, investors buy up dollars to invest in the US stock market. As a result, the DXY Dollar Index rises. But as soon as the dark shadow of an impending recession falls over the rosy picture, the countdown begins. Moreover, an economic…
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Want multi-daily Signals? Subscribe to our mql5 channel: tips / settings / trade plans Thanks for joining us ^^ You will find hereunder 3 valuable resources in your trading journey: ✅ A FREE major tool for Strategic Levels and your Entries and Exits 📍 PowerZONES. https://www.mql5.com/en/market/product/116086?source=Site+Market+Product+Page 👉 Download it👉 Leave a Review or Comment to keep…