Forex48_TradingAcademy

Forex48_TradingAcademy

EUR/USD Analysis Current Overview EUR/USD is retreating towards 1.0700 during the European session on Wednesday. The pair is under pressure as the US Dollar finds stability after dovish comments from Fed Chair Powell. Cooling inflation in the EU keeps the Euro under pressure. Eyes are on the US ADP report and Fed Minutes. Key Support and Resistance Levels...

Forex48_TradingAcademy

USD/JPY Analysis 1. Recent Performance Current Trend: USD/JPY trades around 159.70 on Monday, maintaining a bullish bias. The pair is testing the upper boundary of an ascending channel pattern on the daily chart. Japanese Yen Stability: The Japanese Yen (JPY) holds its ground, likely due to verbal intervention by Japanese authorities. Masato Kanda, Japan's top...

Forex48_TradingAcademy

GBP/USD Analysis 1. Recent Performance Current Trend: GBP/USD trades in positive territory above 1.2650 in the second half of Monday. Following a strong performance due to upbeat PMI data on Friday, the US Dollar has weakened amid a positive shift in risk sentiment, allowing GBP/USD to extend its rebound. Previous Movements: GBP/USD fell below the 100-day Simple...

Forex48_TradingAcademy

EUR/USD Analysis 1. Recent Trend Recovery Trend: EUR/USD is showing a recovery momentum, approaching 1.0750 after closing the previous week in negative territory. Improved Risk Sentiment: The improved risk sentiment hampers USD demand, aiding EUR/USD's rise. 2. Technical Analysis Moving Averages: On the daily chart, EUR/USD is below all its moving averages. The...

Forex48_TradingAcademy

EUR/USD has regained buying interest and reclaimed the 1.0700 level due to renewed weakness in the US Dollar and expectations of Fed rate cuts. A continued downtrend could see EUR/USD revisit the June low of 1.0667, the May low of 1.0649, and eventually the 2024 bottom of 1.0601. On the upside, the 200-day SMA appears at 1.0788, followed by the weekly high of...

Forex48_TradingAcademy

The price of gold witnessed a reversal in trend during Monday's Asian session, halting a two-day losing streak. Weaker-than-expected US employment reports bolstered the likelihood of a September rate cut by the Federal Reserve. Consequently, the US dollar declined while dollar-denominated gold rose. Upon reviewing the daily chart, I observed sellers rejecting...

Forex48_TradingAcademy

This week, the Japanese Yen is poised to deliver a remarkable performance against the US Dollar. The Yen has surged by over 3% following Japan's intervention to bolster the currency and the Federal Reserve's less hawkish tone. Around 152.00, not only is there a crucial level, but the 55-day Simple Moving Average (SMA) is also nearby, along with a long-term...

Forex48_TradingAcademy

EUR/USD witnessed a significant rebound on Thursday, returning to the upper end of recent consolidation above the 1.0700 level as market sentiment stabilized ahead of another US Nonfarm Payrolls Friday. The pair faces initial resistance at the weekly high of 1.0750, followed by key levels such as the 200-day SMA at 1.0798 and the April peak of 1.0880. On the...

Forex48_TradingAcademy

The GBP/USD exchange rate shows a lack of direction, hovering below 1.2500 early on Wednesday, amidst US Dollar strength and cautious sentiment ahead of key US employment data and Federal Reserve policy communications. The exchange rate experienced a sharp decline on Tuesday, erasing previous gains amid subdued trading activity due to the closure of European...

Forex48_TradingAcademy

The USD/JPY has recently surged to a multi-decade high of 154.88, reflecting a steady climb. However, uncertainty looms over the pair, with traders refraining from placing new bets due to the threat of Japanese currency market interventions. Widespread weakness in the US dollar is also curbing bullish potential. Despite reaching a new high for April and the past...

Forex48_TradingAcademy

The analysis on gold presents a complex picture influenced by various factors. Initially, the precious metal recorded a significant loss, exceeding 2% during the day and dropping below $2,340. This decrease was primarily attributed to the easing geopolitical tensions, which prompted a deep correction in the XAU/USD market. Additionally, the resilience of US...

Forex48_TradingAcademy

EUR/USD has shown a significant upward trend, surpassing the key level of 1.0650. This upward movement was primarily driven by a shift in risk sentiment, with investors moving away from safe-haven assets, thereby weakening the US Dollar. The Relative Strength Index (RSI) on the 4-hour chart indicated a recovery towards the 50 level, signaling a reduction in...

Forex48_TradingAcademy

Detailed Analysis on USD/JPY Recent Market Dynamics The Japanese Yen has recently attracted some buyers and recovered a portion of the losses incurred after Wednesday's US CPI release. Concerns about potential intervention by Japanese authorities, coupled with a weaker risk tone, have supported the JPY and exerted pressure on USD/JPY. Divergent Monetary Policy...

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The analysis of USOIL (West Texas Intermediate) takes into account multiple factors influencing the current oil market. Geopolitical tensions: Growing tensions in Gaza and concerns about potential attacks from Iran in the Middle East are adding a risk premium to oil prices. These events could lead to disruptions in oil supply, increasing price volatility. Supply...

Forex48_TradingAcademy Updated 

Recent trend in the price of gold: The price of gold has seen strong gains up to a historical peak reached on Monday. This suggests a bullish momentum in the short term. Factors influencing the price of gold: Federal Reserve monetary policy expectations: Expectations that the Fed may delay interest rate cuts are limiting further gains in gold. This could be due...

Forex48_TradingAcademy Updated 

The pound started the week with a slight bullish tone against the US dollar. This increase was favored by a slightly weaker dollar, accompanied by a moderate risk appetite in the market. This scenario allowed the pair to extend its recovery from the lows recorded after the Nonfarm Payrolls (NFP) report, bringing it back towards the 1.2600 level. Positive...

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The British Pound experienced a significant decline during the mid-North American session, primarily due to the outlook of US economic data, which could influence the Federal Reserve's interest rate decisions. Optimism regarding the strength of the US economy bolstered the US Dollar, while US Treasury yields increased significantly, exerting additional pressure on...

Forex48_TradingAcademy

The analysis on EUR/USD shows a strong bearish pressure that led the cross to touch its lowest level since mid-February, dropping below the level of 1.0750. The daily chart indicates that EUR/USD is confined within a 20 pip range below the level of 1.0803, which corresponds to the 61.8% Fibonacci retracement of the previous rally from 1.0694 to 1.0981. In the...