DNP-FX

DNP-FX

Monetary policy have a significant impact on the value of a currency. The European Central Bank (ECB) is responsible for setting monetary policy in the Eurozone, including interest rates, the money supply, and other factors that influence the availability and cost of credit in the Eurozone. If the ECB implements expansionary monetary policy, such as lowering...

DNP-FX

GBPUSD projection for the week ahead. Technically shows a sideways trend, possible price rebound/pullback and breakout is marked with blue and gray arrows. This week, the influence of NFP on the USD exchange rate can be considerable as the strength of the United States economy can influence the US central bank's (Federal Reserve) decisions on monetary policy,...

DNP-FX

The correlation between the Nikkei index and the Japanese Yen on the daily timeframe can fluctuate depending on market conditions and fundamental factors affecting both. However, in general, there is an inverse correlation (negative correlation) between the two. NIKKEI225 5th MARCH 2023 This can be seen in situations where the yen strengthens, the Nikkei...

DNP-FX

The JAPAN225 (Nikkei index) is close to a significant resistance area, the possibility of a reversal or a change in the direction of the uptrend to a downtrend will increase. This is because a resistance area is a price level that has been tested before and successfully prevented the price from rising, so there is a possibility that this level will once again act...

DNP-FX

EURNZD technical analysis shows a consolidation trend. In the short term, market participants can look for opportunities to enter sell near strong resistance levels or in the area of a significant trend reversal. NZD tends to strengthen against several other major currencies AUD, GBP, and EUR. Various factors, such as expectations of future interest rate hikes,...

DNP-FX

USD strengthened after a hawkish statement from St. Louis Fed President Bullard regarding the possibility of a 50 basis points hike at the next FOMC meeting. USD rallied after higher-than-expected US Producer Price Index data.

DNP-FX

Oil prices fell below US$81 after surging more than 8 percent last week. Although Moscow will reduce supply by half a million barrels per day by March 2023 due to tightening flows, investors remain wary that the Federal Reserve needs to continue pushing interest rates higher to tame inflation. The Fed's push has weighed on the appetite for riskier assets including...

DNP-FX

NASDAQ:XRX is technically showing bullish indications: 1. Price breakout from trendline resistance. 2. Price retests above trendline resistance. 3. Micro trend forming bullish channel pattern Bullish opportunity: 18 - 19.27 (as take profit) Beware of the risk of potential bearish if it forms a lower low or false breakout below 16.33 - 15 (as stop loss)

DNP-FX

The trendline is the most common part of technical analysis in forex trading. But when compared to support and resistance, trendlines are less commonly used. The trendline should be more significant due to the number of touches. Trendlines are very suitable in combination with several technical indicators, one of which is the Money Flow Index ( MFI ). MFI is an...

DNP-FX

USDCAD is technically showing bullish indications: 1. Price is close to the trendline 4th Touch support . a rebound is possible. 2. If the 4th touch support fails to rebound, the next rebound target is the 8th touch support .

DNP-FX

AUDCHF is technically showing bullish indications: 1. Price is close to trendline support. 2. CCI 20 Crossed -90 lower band, reinforced oversold area. Be aware of this risk, the presence of bearish marubozu candlestick, the lower bearish potential is also possible

DNP-FX

EURAUD is technically showing bearish indications: 1. Price is above BB20 upper band. 2. Sotchastic 5 3 3 %K crossed %D, reinforced overbought area. 3. Price is close to trendline resistance. With the presence of three white soldiers candlestick, the higher bullish potential could also occur

DNP-FX

USOIL is expected to be sideways within the ascending triangle area. The price has a possibility to reach the resistance area of the 8th touch. Breakout or rebound scenarios can occur at the touch point of the trendline, but if the price turns out to be a breakout from the support/resistance area. a big trend will likely occur. The existence of horizontal support...

DNP-FX

Crude oil prices in most of the world's physical markets have started the year with a rally, as China has shown signs of buying more, and traders fear sanctions against Russia could tighten supplies. Early indications show there has been an increase in activity, which means oil demand will increase. The EU and G7 coalition will cap the prices of Russian products...

DNP-FX

Bank of England is projected to raise interest rates by 50 basis points (bp) to 4% on February 2nd. There is another possibility that the Bank will add 25 basis points in March, making the peak rate 4.25%. This news could support a buy the rumor sentiment in Pound Sterling. GBPNZD is in the H4 support area and RSI 10 is oversold. Technically, if both reasons are...

DNP-FX

Dow Jones and S&P 500 fell nearly 2% in Wednesday's overnight market, which was the biggest daily drop for both indices in a month. The decline came after weak economic data was released overnight, reigniting fears of a recession. In addition, hawkish comments from Federal Reserve officials also further worsened the fundamental mood of investors. Before the wall...

DNP-FX

The fall in the yen exchange rate cannot be separated from the BoJ's move to maintain the yield curve control (YCC) policy at 0.5%. YCC is a BoJ policy that holds 10-year bond yields close to 0.5%. When the yield starts to move away from 0.5%, the BoJ will purchase bonds. The purchase means the BoJ is injecting liquidity into the economy. The policy was widened...

DNP-FX

AUDCHF is in a potential support area. Stochastic 5,3,3 is oversold and stochastic value %K crosses above %D. Historically, if both reasons are valid, the price will be bullish in the future. Today, Market participants still waiting for clarity on SNB's monetary policy stance. The price will tend to be sideways and it's at the bottom to return higher.