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The USD/JPY currency pair demonstrated a remarkable V-shaped recovery, bouncing back from the 140.00 level, subsequent to the Bank of Japan (BoJ) Governor Kazuo Ueda's announcement of an unchanged interest rate decision. Governor Ueda's decision to maintain the current monetary stimulus aims to stimulate wages and overall demand, considering that the prevailing...

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The EUR/USD currency pair continued its upward momentum throughout the week and reached its highest level since May 11, peaking at 1.0962 on Friday, before experiencing a modest retreat. The Euro's outperformance against its counterparts can be attributed to the hawkish rhetoric from the European Central Bank (ECB). However, when considering the technical outlook,...

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The GBP/USD currency pair has displayed a persistent upward trend, continuing its growth without any notable retracement in recent trading sessions, extending into yesterday and today. During our analysis, we have identified the formation of a Reversal Crab pattern, which adds a technical perspective to the price action. The Reversal Crab pattern is characterized...

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In the Asian session, the USD/CHF pair is facing significant resistance near the 0.9040 level. The Swiss Franc is striving to continue its upward trajectory, supported by the impressive recovery of the US Dollar Index (DXY). In Tokyo, S&P500 futures are displaying minor losses as investors exercise caution, fearing that additional interest rate hikes by the...

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GBP/JPY remains at its highest levels since January 2016, showing a lack of direction. UK economic data for April was mixed, with improved GDP figures. The market is currently in a consolidation phase ahead of the Federal Reserve's monetary policy announcement, with mixed concerns about the Bank of Japan versus the Bank of England influencing buyers of the...

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The USD/JPY pair is currently experiencing a moderate increase, with a gain of approximately 0.13%. The price has rebounded from a low of 133.89 and has climbed to 134.73 thus far. The bullish side has shown strength in defending the trendline support and maintaining control over levels above 133.50. The recent rebound from the 61.8% Fibonacci level suggests...

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The EURAUD currency pair continues to exhibit a persistent bearish trend, with recent price action indicating a rebound from the previous resistance area. Our analysis suggests that this rebound is likely to be a temporary retracement within the broader bearish trajectory. Therefore, our perspective aligns with the idea of a bearish continuation, as we anticipate...

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In May, the Annual Consumer Price Index (CPI) in the US is projected to show a 4.2% increase, marking a slowdown compared to April's 4.9% rise. The Core CPI inflation, which excludes volatile food and energy prices, is anticipated to grow at a slightly faster pace of 5.6% year on year, surpassing April's 5.5% growth. The forthcoming release of US CPI inflation...

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The GBP/CAD pair is currently experiencing a pullback phase following a notable reversal at the 50% and 61.8% Fibonacci levels. This retracement suggests a temporary correction in the price movement. However, there is potential for a new bullish impulse to emerge, which could propel the price towards the 1.6900 level. If this bullish momentum continues, the pair...

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For the second consecutive day, EUR/JPY has scaled higher, reaching a two-week high on Tuesday. The ongoing upward move is supported by the policy divergence between the European Central Bank (ECB) and the Bank of Japan (BoJ), favoring bullish sentiment. Traders are now eagerly awaiting the upcoming ECB decision and BoJ meeting before making fresh directional...

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The USD/CHF currency pair exhibits a robust negative correlation with the EUR/USD. Currently, the USD/CHF remains within a bullish channel, despite experiencing a significant retracement in the previous trading session. In today's session, the price has shown a strong upward movement around the 0.9000 level, indicating a potential bullish impulse. Based on our...

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In our previous analysis of the EUR/USD, we highlighted that the currency pair has been trading within a range, oscillating between support and resistance levels. Upon further examination, we have identified a bearish shark pattern with an entry point near the resistance zone. Additionally, today, we observed a divergence on the Relative Strength Index (RSI) in...

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Today, the GBP/USD witnessed a rebound towards the resistance level at 1.2560, indicating a potential reversal in the price action. Our analysis suggests a target of 1.2450 for the upcoming movement. The RSI indicator remains in the overbought area, further supporting our bearish outlook. Consequently, we are actively seeking a short setup in this currency...

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The EUR/USD remains within a defined range, showing signs of rejection at the resistance area around the 1.07800 level. This rejection coincided with the RSI indicator indicating overbought conditions, suggesting a potential weakening of bullish momentum. Given these observations, our analysis suggests the likelihood of a robust bearish impulse in the near future,...

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The EUR/USD currency pair continues to be confined within a prevailing Bearish channel, indicating a downward trend. Although there has been an increase in trading volume over the past two days, the main trend remains downward. Within the channel, a Shark pattern has been identified, suggesting a potential reversal in the near future. Additionally, the current...

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The GBP/USD currency pair remains confined within a persisting Bearish channel, characterized by a downward trend. Notably, yesterday, the price experienced a significant rebound upon reaching the 61.8% Fibonacci retracement level. As of today, the price is displaying some efforts to regain its lost value; however, our overall perspective remains inclined towards...

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The price of GOLD appears to have entered a bearish channel, exhibiting a downward trend. In the recent hours, there was a pullback observed around the 61.8% Fibonacci retracement level from the previous swing. Based on this development, our trading idea is to capitalize on the ongoing bearish momentum and consider taking a bearish position on GOLD with a target...

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Our analysis on GOLD remains unchanged as we continue to anticipate a bearish setup. The current price action indicates a rebound occurring at the 50% and 61.8% Fibonacci levels, adding further weight to our bearish outlook. From a fundamental perspective, Gold price (XAU/USD) witnessed a significant decline, approaching the $1,960.00 mark during the European...