Fundamental analysis: EUR/USD
Inflation
Monthly inflation in the EU fell by 0.1%, as did core inflation.
CPI in the US is still positive, but we'll have to wait and see if PCE is the same. PCE is more important to the Fed.
If monthly inflation in the US remains at the current level or higher, we can forget about the Fed's target of 2.0%.
In Jackson Hole, Powell...
Of the three central banks that I primarily trade, the Bank of England (BOE) has the biggest puzzle. Today's data was the worst possible for Governor Bailey and his team. Specifically, employment fell by 66,000 and the unemployment rate ticked higher by 0.2% for the second month in a row to 4.2% (the Federal Reserve would be delighted with this turn of...
The Nasdaq is approaching the key zone of 14,850-14,930 . It is marked by the largest correction in the uptrend that began at the beginning of 2023.
Additionally, the last bottoms are located in this zone.
A break of this zone could bring the index down to the 100-day MA around 14,400 .
The daily chart is already a bit more interesting than the weekly chart described earlier.
The round $30,000 level is playing an important role at the moment, where the price tried to stay above it after breaking it in February until the end of July, where the bears broke through this zone. And now the roles have reversed and the bears are trying to keep the...
Since June, Bitcoin has not been pampering us with its volatility. The bulls slowed down at the first resistance of a very strong supply zone of $31,580 - $35,900 .
It consists of 50% Fibonacci from the downtrend in March 2022 supported by the Price Action zone from May-June 2021. The upper band of this zone is 38.2 Fibonacci measured from the ATH in November...
On August 3, GBPUSD reacted impulsively to a very strong technical zone. This zone was a combination of the Fibonacci levels 38.2 and 61.8, also known as a DiNapoli cluster. In addition, the area saw a simple ABC correction with an equal-sized AB=CD wave (a very strong correction). The zone was located between 1.2650 and 1.2637 . The reaction was excellent, but...
