DNP-FX

DNP-FX Updated 

Based on the weekly chart analysis, Pepsico Inc. ( NASDAQ:PEP ) has been on an overall uptrend, with rising prices supported by observations from the stochastic oscillator. The price has formed a rising wedge pattern. However, it is essential to note that the price has already breakout of the resistance area within the rising wedge pattern, but there is still a...

DNP-FX

GBPUSD pair has been on an upward trend since the end of 2022, as indicated by the rising trendline. This trendline acts as a support line, where prices have bounced higher. Since March, a rising wedge pattern has formed, represented by the blue area on the chart. A rising wedge pattern typically signals a potential reversal in the trend. In this case, there was a...

DNP-FX Updated 

The Swedish economy will not shrink as much as previously expected, and the level of unemployment will stay relatively steady, according to a government agency. However, high inflation and higher interest rates have had a negative impact on Swedish households, leading to a significant decline in housing construction. This, along with a slowdown in exports, will...

DNP-FX

May Inflation Data Release to Heighten Expectations of Rate Hike Next Tuesday, the United States is set to unveil its May inflation figures, impacting the Federal Reserve's upcoming monetary policy decision. Market forecasts anticipate a year-on-year increase of 4.2% in the Consumer Price Index (CPI), while the core annual CPI is expected to rise to 5.6%,...

DNP-FX

On the daily timeframe, the price of USDMXN is displaying a descending channel pattern. This pattern consists of a series of lower highs and lower lows, forming a channel with a downward slope. Currently, the price is within the descending channel pattern and approaching the support level. Given the characteristics of a descending channel pattern, there is a...

DNP-FX

UK100 (FTSE 100) index has shown a significant price movement. The price initially formed a resistance level, which has been successfully broken out. This breakout indicates a potential shift in market sentiment. The previous resistance level has now become a support level. This means that traders and investors are now viewing this level as a price floor, where...

DNP-FX

The Reserve Bank of New Zealand (RBNZ) recently made a decision to raise interest rates. Normally, when a country raises its interest rates, it tends to strengthen its currency. in this case, the opposite happened in this situation. The price of the New Zealand dollar actually went down because of a dovish statement from the RBNZ. A dovish statement means that the...

DNP-FX

It is anticipated that the Federal Reserve, which is responsible for managing the US's monetary policy, will raise interest rates again. This could potentially cause the US economy to slow down and enter a recession later this year. In recent weeks, concerns about a banking crisis have affected the oil market. The US government took over First Republic Bank, and...

DNP-FX

CADCHF has been trading within a bearish channel since early 2022, and the price is currently consolidating inside bearish channel pattern. The recent price action has approached the support level of the bearish channel, which suggests that there is a possibility of a rebound or a bounce upwards. The stochastic 5,3,3 indicator has crossed below the oversold...

DNP-FX

Based on recent price action, EURNZD has formed a bullish channel pattern. Last week, the price breakout from the resistance area of the bullish channel, indicated a strong buy signal. This week, there is a possibility of price correction and the price retraced, but still managed to find support in the bullish region. The stochastic 5,3,3 indicator has crossed...

DNP-FX

The US stock market went down because banks and financial companies were selling their stocks. People who invest money were also getting ready to see a report about jobs, which could change how much interest banks charge for loans. There were some reports that showed the US economy is doing well. But this made some people worry that the Federal Reserve, which...

DNP-FX

NZDCAD has formed a bearish channel pattern, price has been consistently moving downwards within a defined channel. Currently, the price is approaching the support level of the bearish channel, which is a price level where historically the price has tended to bounce upwards. This suggests that there is a possibility of a price rebound or bounce upwards from the...

DNP-FX

GBPNZD currency pair is currently showing a consolidation within a wedge pattern. The price is approaching the resistance level of the wedge pattern, which is historically known to be a price level where the price tends to pullback or bounce downwards. Based on this historical price behavior, there is a potential pullback or downward bounce from the resistance...

DNP-FX

GBPCHF is currently within a falling wedge pattern, with the price near the resistance of this pattern. It's likely that the price will pullback, then bearish to the support level of the pattern. Traders should set a stop loss if the closing price is above 1.1408. If this stop loss is triggered, long positions can be taken with bullish targets up to 1.1055. It's...

DNP-FX

The NZDCAD price is still in a downtrend channel and currently near the resistance area of this channel. It's likely that the price will pullback to around 0.843, but traders should set a stop loss if the daily closing price breaks out or above the resistance area of the channel. In case of a breakout, the price is likely to be bullish until it reaches the range...

DNP-FX

We can observe that the price is currently trading near a resistance area. There are two possible scenarios that could play out - the price could rebound from the resistance level and continue to trade within its current range, or it could break below the resistance level and potentially begin a downtrend. To help identify potential levels of support and...

DNP-FX

The recent decision by the Reserve Bank of Australia (RBA) to raise the benchmark interest rate by 25 basis points to 3.6%. When a central bank raises interest rates, it signals that they are trying to control inflation by reducing the amount of money available for borrowing and spending. This can help to stabilize prices and keep inflation under control. It can...

DNP-FX

Looking at the four-hour (H4) timeframe and observing that the price has recently broken out of a bullish channel support. A bullish channel is a price pattern that forms when the price is trending upwards within a well-defined channel, with both the upper and lower trendlines sloping upwards. When the price breaks below the lower trendline, it is considered a...