Forex48_TradingAcademy

Forex48_TradingAcademy

GBP/USD showed a strong daily rebound, surpassing the level of 1.2150 on Wednesday. The US Dollar is under bearish pressure after ADP reported a modest increase in private sector employment in September. Currently, the pair is around 1.2130, close to the upper limit of a descending regression channel. Buyers could remain interested if the level of 1.2130 confirms...

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Decline for the US technology stocks index, closing the session sharply lower with a loss of 1.83% from previous values. The start was weak for the index, which began the day at 14,744 points above the previous session's bottom, only to worsen its performance throughout the meeting and end even lower at 14,565.6, the session's lowest level. The technical picture...

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The EUR/USD pair hit a new yearly low, nearly reaching 1.0450 on Tuesday before a slight bounce to around 1.0480. This drop was driven by a strong US dollar, supported by positive economic data and higher yields. However, the euro has slightly recovered. The daily chart shows a bearish trend with negative prospects below 1.0640. On the 4-hour chart, the pair is...

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The price of gold experienced a correction and stabilized above $1,820 after falling to a multi-month low of $1,815 during the Asian trading hours on Tuesday. The benchmark 10-year US Treasury bond yield holds above 4.7% ahead of US data, not allowing XAU/USD to extend its rebound. The Relative Strength Index (RSI) on the daily chart is signaling extremely...

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The USD/CAD pair continues to rise after a strong rebound last week near the crucial 200-day Simple Moving Average (SMA) level around 1.3400. Tuesday marks the third consecutive day of growth. During the Asian session, spot prices reach the highest level since late March, and investors await further strengthening beyond the 1.3700 threshold before placing new...

Forex48_TradingAcademy

The EUR/USD faced renewed bearish pressure, sliding towards 1.0500 on Monday, due to positive US Manufacturing PMI data in September. The daily chart for the EUR/USD pair suggests a downward extension, as technical indicators resumed their descent into negative levels after correcting oversold conditions from last week. Meanwhile, the 20-day Simple Moving Average...

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The USD/JPY exchange rate is continuing to rise towards the 150.00 mark, approaching new highs of the last year in Asian trading on Monday. The pair is supported by the renewed increase in US Treasury bond yields and accommodating comments from the Bank of Japan (BoJ). However, Japanese intervention risks in the foreign exchange market are accumulating. The...

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The price of gold experienced a significant oscillation, reaching $1,880 and then dropping to $1,860 after an initial rebound. The Relative Strength Index (RSI) indicates excessive sales, suggesting the need for consolidation before any further declines. Factors such as the potential real estate crisis in China and the risk of a partial US government shutdown...

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GBP/USD reversed its direction and dropped below 1.2200 during the American session on Friday, after rising above 1.2270 earlier in the day. Position readjustments and profit-taking on the last trading day of the quarter seem to be weighing on the British Pound. If the pair stages a technical correction, it could face resistance at 1.2200 (20-period Simple Moving...

Forex48_TradingAcademy

EUR/USD slipped below 1.0600 during Friday's American session, retracting part of its daily gains, despite a positive market tone following PCE inflation data. The rebound from the year's lowest daily close improved the Euro's outlook, although the overall trend remains bearish. A potential recovery could reach 1.0700 without altering the bearish trend. On the...

Forex48_TradingAcademy

The price of gold (XAU/USD) struggled to find direction during the Asian session, remaining above the recent low around $1,858-1,857. The US dollar (USD) retreated from ten-month highs, alleviating pressure on gold. Concerns emerged about a possible US government shutdown on October 1 and issues in the Chinese real estate market, supporting gold as a safe-haven...

Forex48_TradingAcademy

EUR/USD recently peaked at 1.0579, the highest in two days, before retracting to 1.0550, showcasing its best monthly performance despite an overall bearish trend. Market attention now centers on an upcoming speech by Fed Chair Powell. A sharp rebound post a yearly low's daily close has improved the Euro's outlook, potentially reaching 1.0700 without altering the...

Forex48_TradingAcademy

During the Asian session on Thursday, the GBP/USD pair rose from its recent low near 1.2110, indicating a move away from the lowest point touched since March 17. However, it remained below the mid-1.2100s, suggesting vulnerability to the persistent downtrend observed over the past two months. The Relative Strength Index (RSI) on the 4-hour chart stayed well below...

Forex48_TradingAcademy

The USD/JPY exchange rate is rising for the third consecutive day, driven by the strength of the US dollar, which has almost reached 106.30 on the DXY index despite a decline in consumer confidence in September. To keep Japanese inflation above 2%, higher wage growth is needed. Investors express concern about the long-term future as the Federal Reserve (Fed) is...

Forex48_TradingAcademy

EUR/USD hovers near six-month lows around 1.0550 during the Wednesday European session, facing a bearish phase. Despite the decline in US Treasury bond yields, the US Dollar retains recent gains, negatively impacting the pair. EUR/USD is near the lower limit of the descending regression channel, with the 4-hour chart's Relative Strength Index (RSI) slightly below...

Forex48_TradingAcademy

On Tuesday, Spot Gold (XAU/USD) experienced a sharp decline, reaching a two-week low of $1,900.83, largely driven by a strong surge in the US Dollar amid a worsening market sentiment at the week's start. Investor concerns grew due to central banks' commitments to prolong higher interest rates and disappointing US economic data. The technical analysis for XAU/USD...

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The USD/JPY exchange rate is consolidating its recent rise to 149.00, the highest in the last 11 months, supported by the increase in US Treasury yields due to the determined stance of the Federal Reserve. However, there is a risk of Japanese intervention in the foreign exchange market. USD/JPY has recovered the losses caused by the Bank of Japan's decision to...

Forex48_TradingAcademy

The EUR/JPY continues to depreciate for the tenth consecutive day, with resistance at 158.17 and proximity to the Ichimoku Cloud (Kumo) suggesting potential downside risks. Currently trading at 157.60 (-0.19%), the Euro is weak due to recessive prospects in the Eurozone. The ECB is maintaining steady rates, following the Fed's approach of keeping rates higher for...