Mrsam36

Mrsam36

The USDJPY has raced higher on the back of the stronger US jobs report this morning, and in the process took out technical levels including a downslope trendline at 147.827 and swing highs for the week including the Monday high at 148.42 The price rise has moved to another swing area between 148.459 and 148.49 and is finding some cause for pause ahead of the...

Mrsam36

Gbpusd gathered bearish momentum and closed in positive territory on Thursday after dipping below 1.2650 with the immediate reaction to the Bank of England's (BoE) policy announcements. The pair holds its ground in the European session on Friday and trades modestly lower on the day low 1.2740.

Mrsam36

Xauusd aims for a strong weekly gain as investors choose the early rate-cut narrative in the US, shrugging off recent doubts over its timing. In the monetary policy statement, the Federal Reserve (Fed)  didn’t explicitly refer to upcoming rate cuts amid the absence of enough evidence that underlying inflation will sustainably return to the 2% target. However,...

Mrsam36

The eurusd pair has displayed a bearish trend since the beginning of the year, characterized by a structured decline on lower timeframes and navigating within a downward trend channel. Notably, the currency pair breached the 45-day exponential moving average (EMA) channel on the daily chart and is now nearing the 200-day EMA support level. A critical juncture for...

Mrsam36

GBP/JPY rebounded after brief dip to 185.41 and intraday bias is turned neutral first. On the downside, below 185.31 will extend the correction from 188.70 to 55 D EMA (now at 184.89) and below. On the upside, break of 187.50 minor resistance will argue that the pull back has completed, and bring retest of 188.90 instead

Mrsam36

USD/CAD remains neutral for the moment. On the downside, firm break of 1.3342 support will argue that rebound from 1.3176 has completed at 1.3530, and target this low for resuming whole fall from 1.3887. On the upside, however, break of 1.3530 will resume the rebound from 1.3166 instead.

Mrsam36

Ethereum ETF would be a strong bullish signal, mirroring the impact of the ETF. An Ethereum ETF would pave the way for institutional investment, providing a regulated and accessible means for traditional investors to gain exposure to ETH. This could secure Ethereum's future as a mainstream financial asset and provide a stable foundation for long-term growth.eth will go up

Mrsam36

GBP/JPY’s break of 186.14 minor support confirms short term topping at 188.80. Intraday bias is back on the downside for deeper pull back to 55 D EMA (now at 184.79) and possibly below. On the upside, break of 187.10 minor resistance will argue that the pull back has completed, and bring retest of 188.90 instead.

Mrsam36

EUR/USD is back on the downside with breach of 1.0785 temporary low. Fall from 1.1148 is trying to resume to 1.0732 structural support. Decisive break there will argue that whole rise from 1.0457 has completed, and target this low. On the upside, however, break of 1.0941 will turn bias back to the upside for stronger rebound instead.

Mrsam36

Oil prices are finding a floor near $75, backed by the OPEC statement being released after the only meeting earlier this Thursday. A panel of OPEC+ members said no policy changes are foreseen for now, while the US has reportedly hit a six-month high in November on production. Add the stockpile buildup number from the Energy Information Administration (EIA)...

Mrsam36

Btcusd analysis two days ago that the technical picture had become more bullish but I thought that bulls may have run out of momentum after the price failed to clear the resistance level at $43,309. I was still looking for a long trade following two consecutive higher hourly closes above $43,509 but only targeting the next resistance level at $44,408. This was a...

Mrsam36

Dxy buying area chart It’s been a phenomenal start to 2024 for the US dollar, which has already risen more than 2% against a basket of major currencies as a streak of encouraging economic data reinstilled confidence in the US economy, forcing traders to dial back bets of immediate Fed rate cuts. Economic growth has been faster than expected, empowered by strong...

Mrsam36

Usdcad showed some resilience below the 200-period Simple Moving Average (SMA) on the 4-hour chart and the subsequent recovery favours bullish traders. Moreover, oscillators on the said chart have started gaining positive traction and holding in the bullish territory on the daily chart. This further validates a constructive outlook and suggests that the path of...

Mrsam36

After closing the second consecutive day in negative territory on Wednesday, GBP/USD continued to edge lower early Thursday and was last seen trading at around 1.2650 Although the technical outlook points to a bearish tilt in the near term, the pair faces a two-way risk heading into the Bank of England's (BoE) policy announcements.

Mrsam36

Gold On the daily chart, we can see that  has recently broke through the key trend that was defining the downtrend and it has opened the door for a rally into the 2060 resistance zone. The buyers will now look for dip-buying opportunities on the lower timeframes while the sellers will need some key breakouts to the downside to gain back control.but we see the sell

Mrsam36

Usdjpy On the 1 hour chart, we can see more closely the price action inside the channel with the price now close to a level where we got rejections from in the past few days. More aggressive traders might want to trade either a rejection from the level or a breakout to the upside, but ultimately the best levels, from a risk to reward perspective, are the...

Mrsam36

The USDCHF fell below a KEY FLOOR LEVEL that I have been monitoring from a technical perspective at 0.86048. That break opened the door for further downside momentum the price has since fallen below its 200 bar moving average on the 4-hour chart at 0.8573 (see chart below), and the 38.2% retracement of the move up from the December low at 0.85765 Staying below...

Mrsam36

The US Dollar Index (DXY) might find its catalyst this Wednesday.dxy fall more because of FOMC For nearly two weeks now it has been unable to trade away from both the 55-day (103.03) and the 200-day (103.54) Simple Moving Averages despite several false breaks and both MAs getting all chopped up.  Although the Fed meeting this Wednesday is unlikely to usher in any...