TradingFXio

TradingFXio

As we gear into today's session with key economic data on the horizon, including PCE and unemployment claims, gold's technical structure is under scrutiny. The metal remains within a bullish channel but is facing immediate resistance around $2040. The market's reaction to today's economic releases will be crucial. Technical analysis: Gold's recent retest of the...

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The USD/CHF pair has been consolidating within a bullish trend, hinting at the dollar's strength against a backdrop of a surging Dollar Index (DXY). This consolidation phase is depicted by the formation of a descending wedge pattern, typically indicative of a potential upward breakout. Today's focus is on the US GDP data release at 13:30 GMT. Despite the...

TradingFXio

The DXY has displayed a contraction pattern, signaling uncertainty. Today's anticipated Consumer Confidence and Durable Goods Orders reports could inject volatility. Technical analysis: The DXY is navigating within a descending channel, hinting at a bearish sentiment. After it broke out of a bullish flag pattern, it pushed up to the major resistance of 105.00,...

TradingFXio

Reflecting on the previous session, EUR/USD continues to show strength, with market conditions favoring the Euro over the dollar. The pair has successfully maintained support above 1.0800 and is now testing the resistance around 1.0860. Technical analysis: The pair is currently within a bullish channel that stretches from the major support at 1.072 to the...

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In the latest session, GBP/USD's bullish run encountered a hurdle as PMI numbers reported today came in lower than expected. This data has tempered the optimism surrounding the Pound, which was previously bolstered by a positive shift in COT sentiment and expectations of robust PMI figures. Technical analysis: As expected in our last analysis, GBP turned bullish...

TradingFXio Updated 

Reflecting on the prior session, GBP/JPY's price action within a defined range has showcased a market in equilibrium, yet the undercurrents of fundamental shifts suggest a potential breakout. With the market sentiment leaning towards a bullish GBP, catalyzed by a significant shift in COT sentiment, there's anticipation for a stronger-than-expected PMI report from...

TradingFXio

In the last trading session, we saw the USD/JPY exhibiting resilience, maintaining its position even amidst diverse economic data from the US. The pair's tenacity points to a market evaluating various economic indicators ahead of the this weeks’s economic reports. Technical analysis: The USD/JPY created clear higher lows and highs, retesting each level while...

TradingFXio

As anticipated, gold is currently making a correction after price fell from 2032 to 1986. It broke the support around 2015 which is expected to be retested. The chart indicates that the gold market is at a key level, facing resistance near the $2015 mark. If gold sustains above this level, it could indicate a bullish breakout, potentially targeting the next...

TradingFXio

In light of today's scheduled release of key economic reports such as core retail sales, initial jobless claims, and retail sales, the EUR/USD pair's movements will be closely watched. These data points will provide valuable insights into the U.S. economic landscape and could influence the Federal Reserve's monetary policy decisions in the upcoming...

TradingFXio

As per the last market session's analysis, the GBP/USD has confirmed its bearish momentum following the recent CPI data release. With the CPI numbers coming out lower than expected, indicating subdued inflation, the market is bracing for an accelerated rate hike timeline. This has resulted in pronounced USD strength against the British Pound. Bank of England...

TradingFXio

While the market is anticipating lower CPI numbers than in January, which doesn’t play well for USD’s bullish case, the American dollar has been on a tear. Federal Reserve's decision to maintain interest rates and not cut rates in March was apparently a clear sign for the market to lean towards a more bullish stance on the US Dollar in a complex economic...

TradingFXio

The British Pound has been inside of a range for a rather long time, this week it finally broke out. The technical posture of GBP/USD shows that the pair is weakening as the dollar is gaining momentum, with the price currently retesting the key demand zone around the 1.26400 level. This previous support area has capped previous rallies and a decisive break below...

TradingFXio

The USD/JPY pair has been trading with resilience, holding steady despite a series of mixed economic reports from the United States. The currency pair's behavior suggests a market that is currently weighing varied signals from economic indicators. Technical Analysis: USD/JPY is currently trying to break the significant resistance level at 148.70. The pair's break...

TradingFXio

EUR/USD remains a focal point in the FX markets, especially post-FOMC announcement. The currency pair has been trading within a descending channel, indicating a short-term downtrend within a broader context of market anticipation regarding rate decisions on both sides of the Atlantic. Technical Analysis : EUR/USD is rebounding from the channel's support level...

TradingFXio

As gold traders, we've been closely monitoring the consolidation pattern forming on the daily timeframe, denoted by a narrowing price channel that signifies indecision in the market. The precious metal has been hovering around the $2038 resistance level, unable to push through it. The technical structure on the chart suggests that gold is at a critical juncture....

TradingFXio

Based on the latest Federal Reserve's decision to maintain interest rates and not cut rates in March, it's clear that the market is currently leaning towards a more bullish stance on the US Dollar in a complex economic landscape. The Federal Reserve's decision to hold interest rates steady at 5.5% aligns with the data, reflecting a cautious stance towards...

TradingFXio

The British Pound has been navigating through a dynamic economic backdrop, particularly after the Bank of England's (BoE) recent statement. The technical posture of GBP/USD shows a currency pair at a crossroads, with the price currently pressing against a key supply zone around the 1.27800 level. This resistance area has capped previous rallies, and a decisive...

TradingFXio

The recent Federal Reserve decision to hold interest rates steady, keeping it at the 5.5% level, marks a continuation of their cautious approach toward managing inflation and economic growth. The Fed’s statement suggested an openness to reducing rates if inflation continues its downward trajectory, but they made it clear that rate cuts are not imminent, waiting...