Forex48_TradingAcademy

Forex48_TradingAcademy

The USD/JPY exchange rate reached a temporary support level at 149.50 after the strengthening of the US dollar. Economists predict a 4.2% growth in the US economy in the third quarter of 2023. The Bank of Japan (BoJ) announced an unplanned bond-buying operation. The USD/JPY rate found support after a correction from the key resistance level of 150.00. S&P500...

Forex48_TradingAcademy

The controlled progress of the US technology stocks index led to a 0.30% increase in the closing. The day started with an initial weakness and an opening at 14,514.1 points, below the lows of the previous session, but during the day, we witnessed a strengthening of prices. The technical analysis of the Nasdaq 100 reveals an expansion of the downtrend line, with a...

Forex48_TradingAcademy

The USD/CAD exchange rate has reversed, reaching the resistance at 1.3750. The Canadian dollar has gained momentum due to support from the U.S. dollar (DXY) at 106.00. The S&P500 has started declining due to market uncertainty linked to tensions in the Middle East and quarterly results. The Israeli leader has ordered an operation in Gaza, raising concerns about...

Forex48_TradingAcademy

In the Asian session on Monday, the EUR/USD exchange rate dropped below 1.0600 due to developments in the Middle East, weakening the bullish prospects of the pair. The US dollar gained strength due to higher yields and a decline in stocks. However, there are some positive signals for EUR/USD, with technical indicators showing the potential for further gains if it...

Forex48_TradingAcademy

Gold prices have continued their upward trajectory, reaching nearly $1,990 on Friday, a level not seen in five months. The XAU/USD pair has benefited from the growing interest in safe havens, with investors actively seeking to mitigate their exposure to risk. Furthermore, the decline in U.S. yields has provided additional support to the price of gold. The precious...

Forex48_TradingAcademy

In this update on GBP/USD, the currency pair initially dropped to the 1.2100 level due to disappointing economic data from the UK. However, it managed to recover to around 1.2150. Market sentiment remains negative, with investors focused on news related to the conflict between Israel and Hamas. The Relative Strength Index (RSI) indicator on the 4-hour chart has...

Forex48_TradingAcademy

The relationship between the Euro (EUR) and the US Dollar (USD) is maintaining a tight range below 1.0600 towards the end of the week. The lack of significant data releases is contributing to the cautious market attitude, which is supporting the strength of the US Dollar. This situation makes it challenging for the EUR/USD relationship to gain momentum. Over the...

Forex48_TradingAcademy

The price of gold has risen to nearly $1,980, reaching its highest level since July. This increase has been driven by escalating tensions between Gaza and Israel, despite the ongoing rise in US Treasury yields. Gold has surpassed significant technical indicators and is now aiming to breach the $1,988 threshold before potentially reaching $2,000. The 14-day RSI...

Forex48_TradingAcademy

The EUR/USD is trading below 1.0550 in the early European session on Thursday, primarily due to ongoing tensions in the Middle East, which are bolstering the safe-haven US Dollar. Investors are cautious ahead of a speech by Fed Chair Powell. The EUR/USD briefly touched 1.0595 but then retreated, forming a short-term double-top pattern. A drop below 1.0560...

Forex48_TradingAcademy

Initially, the exchange rate between the British pound (GBP) and the US dollar (USD) showed an increase, surpassing 1.2130 but encountering resistance at 1.2175. Despite inflation in the UK, the pair consolidated with slight losses due to the strength of the US dollar. Currently, it fluctuates between 1.2190 and 1.2200, in line with Fibonacci retracement levels at...

Forex48_TradingAcademy

The USD/JPY exchange rate is holding around 149.75 during the early Asian trading hours, supported by an increase in US Treasury bond yields. Investors are on alert for the possibility of intervention by Japanese authorities near the 150.00 level. Despite a brief dip towards 148.80, the pair quickly recovered around 149.50, anticipating the upcoming inflation...

Forex48_TradingAcademy

During the first half of Tuesday, the EUR/USD exchange rate maintained stability around 1.0550, showing a narrow range. Buyers continued to exert upward pressure, capitalizing on the persistent weakness of the US dollar. Additionally, positive data from Germany supported the euro, with the German ZEW Survey for October indicating an improvement in Economic...

Forex48_TradingAcademy

The recent decline in the price of gold is primarily due to increased risk aversion, leading to a surge in demand for the US Dollar as a safe-haven asset. This shift is driven by persistent concerns regarding the Chinese property market, particularly the potential default of Country Garden's offshore debt if a payment due on Tuesday is not made. Additionally, the...

Forex48_TradingAcademy

The USD/CAD pair is struggling to make significant moves, hovering near 1.3650 during the European session. The start of the week for the US Dollar is lackluster, showing signs of stalling after a positive surge following the recent release of the US Consumer Price Index. Accommodative comments from various Federal Reserve officials suggest a likely continuation...

Forex48_TradingAcademy

The GBP/USD pair initially attempted a recovery but later reversed, falling below 1.2100 on Friday due to escalating geopolitical tensions, favoring the US Dollar. The Relative Strength Index (RSI) dropped to 40, signaling a short-term bearish outlook. The crucial level at 1.2200 holds psychological and technical significance. If confirmed as support, GBP/USD...

Forex48_TradingAcademy

In the final part of the American session, EUR/USD dropped to 1.0500 due to negative market sentiment, resulting in weekly losses despite a previous bullish movement. The pair fell below 1.0570, a significant level represented by the 100-period SMA and the 23.6% Fibonacci retracement. The RSI on the 4-hour chart dropped below 50, signaling a short-term bearish...

Forex48_TradingAcademy

Gold continued its upward movement, surpassing $1,910 on Friday after two weeks. The 10-year US Treasury bond yield dropped almost 2%, prompting an upward push for XAU/USD as investors sought safety ahead of the weekend. The Gold price briefly reclaimed the crucial 21-Day Moving Average (DMA) at $1,878 but didn't close above it. The 14-day Relative Strength Index...

Forex48_TradingAcademy

The situation with the US technology stocks index in the last session was indeed rather dull, with a 0.37% decline in closing. The beginning was neutral, and then the trend continued to weaken during the trades. Currently, for the Nasdaq 100, a decisive ascent is anticipated, with a target set at 15,292.4. In case of a temporary correction, the nearest target is...