Mohammad_Mirdehghan

Mohammad_Mirdehghan Updated 

With the completion of this structure, the market is ready to continue the upward trend in the intraday time frames

Mohammad_Mirdehghan Updated 

Sustaining the support range of $41.25 - $42.30 enhances the likelihood of the price continuing to rise towards the $49.20 level.

Mohammad_Mirdehghan

The Ethereum to Bitcoin price ratio chart indicates that Ethereum's price remains influenced by the fluctuations in Bitcoin's price. The pattern displayed on this chart suggests that Ethereum is likely to endure buying pressure from Bitcoin in the market. However, the ideal range to anticipate a more substantial movement for Ethereum against Bitcoin would be...

Mohammad_Mirdehghan Updated 

U.S. inflation, which had been rising since the last quarter due to a resurgence in oil prices, is now leading investors to anticipate lower inflation next month as oil prices stabilize. This trend is causing global banks to become sellers of dollars. The price of oil is expected to decline in the upcoming days and reach the $77 level.

Mohammad_Mirdehghan Updated 

As the dollar experiences significant appreciation against other currencies, the price of oil is gradually declining as concerns about the Middle East conflict diminish. This further supports expectations of lower inflation, which ultimately does not bode well for the dollar.

Mohammad_Mirdehghan

Bitcoin, which has been driven upwards by the fundamental weaknesses in the dollar's return, is now experiencing a surge in investor interest. In light of the dollar's fundamental weaknesses, Bitcoin is swiftly striving to sustain its upward trajectory, aiming to bring further joy to investors by the end of 2023.

Mohammad_Mirdehghan Updated 

In recent days, the euro's movements against the Australian dollar have widened within a converging range. More recently, the price has resumed a downward trajectory within this pattern. Meanwhile, the emergence of a harmonic bat pattern could signal a potential reversal towards the upper boundary of the pattern.

Mohammad_Mirdehghan Updated 

Federal Reserve Chair Jerome Powell said in his testimony to Congress that further interest rate rises are likely ahead if the economy maintains its current trajectory. Meanwhile, the Bank of England delivered a larger-than-expected 50 basis point rate hike on Thursday, stoking fears of an economic slowdown in the UK.

Mohammad_Mirdehghan Updated 

The UK's higher inflation rates and the certainty of a continued increase in the UK bank interest rate have contributed to the pound's strength against the dollar, causing some hesitations in the market.

Mohammad_Mirdehghan Updated 

As the announcement of US GDP data approaches, the market is reverting back to previous price levels.

Mohammad_Mirdehghan Updated 

The U.S. dollar is pricing in ahead of Powell's speech tomorrow, reclaiming levels that were established last week before Powell's testimony.

Mohammad_Mirdehghan

The ongoing weakening of the yen is propelling the pound higher, leading to a significant bullish movement. The bullish trend within a new channel is pushing the pound to reach and surpass the next levels of upward momentum.

Mohammad_Mirdehghan

As the dollar continues to weaken and intensify, the expectation of support for the Japanese yen will increase at the previous support level

Mohammad_Mirdehghan Updated 

Following the market's reaction to Powell's speech last night, the pound-dollar trend is showing signs of stabilization within a neutral range in anticipation of next week's news.

Mohammad_Mirdehghan Updated 

This week, as the stock market experienced a decline, prices reached levels that are considered low-risk and can be seen as suitable for support. Despite Powell's statements, American investors remain hesitant to make quick moves, as they perceive the possibility of it being a bluff. Powell's testimony in Gangreh concluded with a series of ambiguous statements,...

Mohammad_Mirdehghan Updated 

The Australian dollar fell toward $0.615 after the Reserve Bank of Australia said in its latest policy meeting minutes the decision to raise interest rates by 25 basis points in June was “finely balanced,” easing expectations of further tightening in the coming months. Still, the board said they will do what is needed to bring inflation back to the 2%-3% target...

Mohammad_Mirdehghan Updated 

There is still room for the weakening of the dollar in the market, but what happened this week has slowed down the process. Holding meetings to determine bank interest rates in Switzerland and England and Powell's testimony in Congress have all made the market cautious.

Mohammad_Mirdehghan Updated 

Here, from a comparative perspective, we observe similarities between the current situation and the beginning of the previous upward movement in 2020. A spike pattern was formed as a result of a bullish crash in the US dollar, which acted as a closing move for the dollar's decline. In contrast, the current crash was triggered by an intra-market event specific to...