USDZAR on the daily timeframe presents an intriguing technical setup characterized by the formation of an ascending triangle pattern. An ascending triangle typically indicates a bullish bias in the market sentiment. Consequently, there are two potential scenarios to consider. Firstly, the price action may encounter support around the lower boundary of the...
GBPUSD pair analyzed on a monthly timeframe, exhibits a notable approaching trendline resistance. This indicates a potential upcoming pullback, favorable for long-term positions. The projected bearish trajectory suggests a target level reaching down to the psychological barrier at 1.1800. Anticipated price action signals a likelihood of descending below the...
NZDJPY on the daily timeframe indicates a potential bearish trend. The price has recently breached below the trendline support, signaling a probable breakout. This breach suggests a weakening of buying pressure and a potential shift towards selling momentum. As per this analysis, the target for the bearish movement is anticipated to extend towards the...
GBPCHF on the weekly timeframe indicates a potential trading opportunity based on technical analysis. Currently, the price is nearing a resistance trendline, suggesting a possible impending pullback. The rationale behind this analysis lies in the observation that the price has approached a significant resistance trendline. Historically, such levels have acted as...
The overall sentiment for gold prices in February is bullish. While the medium-term trend is sideways, the year of the Wood Dragon and technical indicators suggest potential for upward movement. Year of the Wood Dragon: According to Chinese tradition, the year of the Wood Dragon is considered an auspicious time to save in gold. This could potentially drive up...
EURCNH daily chart is consolidating and has formed a new higher low. This higher low can be connected with a trendline to create a support trendline. The price is currently approaching this support trendline, and there is a chance for a bullish bounce or rebound from support line.
GBPCAD consolidating between a support trendline and a resistance trendline. The price has repeatedly rebounded from the support trendline, forming new higher lows. The price has also repeatedly pulled back from the resistance trendline, forming new lower highs. There are four potential outcomes for the GBPCAD pair: 1. Rebound If the price rebounds from the...
AUDNZD pair suggests a potential bullish scenario. Today, the price has touched the support line on the daily timeframe chart, indicating a possible rebound at this support level. If the price breaks through the support area, a sustained downtrend. Traders should monitor the price action closely to confirm the direction of the market.
As of January 13, 2024, the price of Bitcoin (BTC) is trading around $42,000. From a technical perspective, the price is approaching the support area of the blue trendline. This trendline has been in place since Sep 2023. If the price breaks below this trendline, it could open the door to further decline. On the other hand, if the price is able to hold above the...
USOIL has been forming a bearish channel for the past few months. The channel is defined by two parallel lines, with the upper line representing resistance and the lower line representing support. Resistance Test The price has recently reached the resistance line of the bearish channel. This is a sign that the trend may be changing. The price could bounce off...
The chart shows two trendlines: a green one acting as resistance and a blue one acting as support. Both trendlines have been breakout as marked by the yellow areas. However, the price has since returned to the vicinity of the trendlines, suggesting that they may still be valid. Potential buy opportunity in the first month of 2024, marked by the orange line as a...
The Chicago Mercantile Exchange's Commitments of Traders (COT) report for the week ending November 14, 2023, shows that there are signs of weakness for the British pound (GBP). Non-commercial traders, which are typically hedge funds and other large institutional investors, reduced their long positions in GBPZAR by 4,735 contracts. This was the largest weekly...
The NZDCAD has been in a bearish trend since December 2022, forming a descending resistance trendline. The price is currently touching this resistance. Possible Scenario 1: Breakout to the upside If the price breaks above the resistance trendline, it could signal a reversal to the upside. This would be a bullish signal, and traders could look to buy NZDCAD. ...
EURCHF rate has been in a bearish trend since March 2021, forming a descending trendline resistance. This week, the pair breakout of this trendline, which had been in place since the start of the 37-month decline. This technical development suggests that the EURCHF could be on the verge of a long-term trend reversal from bearish to bullish.
In 2023, the RBNZ raised interest rates several times in an effort to combat inflation. This led to an increase in the value of the NZD, as investors sought higher returns in New Zealand. Strong economic growth in New Zealand can lead to an increase in demand for the NZD, as businesses and investors look to invest in the country. New Zealand is a major exporter of...
EUR/JPY is currently trading at 163.1, and there are a number of factors that suggest that the pair could continue to move higher in the near term. First, the ZEW Economic Sentiment Index for Germany is expected to improve from -1.1 to 5. This would be a significant improvement, and it would suggest that the German economy is on track to continue to grow in the...
Real interest rate is the interest rate adjusted for inflation. Nominal interest rate is the reported rate, while real interest rate is the actual rate that the borrower receives after accounting for inflation. The formula for calculating real interest rate is as follows: Real interest rate = Nominal interest rate - Inflation rate For example, if the nominal...
Based on the Daily timeframe for GBPCHF, a clear technical analysis reveals a notable development. The previous support trendline has experienced a downside breakout, now functioning as a resistance zone. Currently, the price is approaching this trendline, showcasing a retest scenario. There's a potential for a bounce off this resistance area. This probability is...