TradingFXio

TradingFXio Updated 

EUR/USD is testing crucial levels ahead of today's FOMC statement, having previously exhibited weakness. It has been moving slowly downwards inside of its descending channel. Despite rebounding from support at 1.080 and challenging resistance at 1.0900, the pair broke through a key trendline, underlining the market's bearish sentiment even against a backdrop of...

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GJ has been moving inside of its channel between 187.3 and 188.5 for almost 3 trading weeks. Last week price broke out of its supporting trendline that been holding the price for quite some time and now. It has fallen through its strong support around 187.3, it is now in free fall as the next major support lies at 185.9. As the price is making this correction it...

TradingFXio

Gold continues to captivate traders' attention, trading within a channel that reflects the market's anticipation of key upcoming U.S. economic reports. The precious metal's price action has been notably stable, with resistance and support levels clearly defined within this channel. Technical analysis: Gold is currently testing resistance near $2038, having...

TradingFXio

USD/JPY has displayed a resilient character in the face of recent economic events. Despite a mix of economic data from the U.S. with positive new home sales and GDP, but negative initial jobless claims and core durable goods orders, the pair remains within a consolidation phase. Technical analysis: USD/JPY has been trading below a key resistance level near...

TradingFXio

The GBP/USD pair has showcased significant bullish momentum in the latest trading session, spurred by positive manufacturing and services PMI reports from the UK. The data exceeded market expectations, injecting optimism and driving the pair past recent resistance levels. Fundamental analysis : The robust PMI figures have highlighted underlying economic strength...

TradingFXio Updated 

GBP/USD is testing the waters within a rising channel, showing some vulnerability. Despite this, the higher than expected UK CPI last week has lent some strength to the pair. Technical analysis: The pair has descended from the upper channel line and is now approaching the lower boundary, currently finding interim support near the 1.2710 level. The upcoming GBP...

TradingFXio

Since our last GBP/JPY analysis, the pair has demonstrated significant bullish behavior, maintaining levels above the important psychological threshold of 187.00. The higher than expected GBP CPI last week gave the pair a boost, GBP/JPY has remained resilient, indicating persistent bullish sentiment. Technical analysis : GBP/JPY is now experiencing a pullback...

TradingFXio

Following our recent analysis, Gold has shown signs of a bullish shift in momentum, quickly recovering from a dip despite the U.S. CPI coming in above expectations. Today's focus shifts to existing home sales data, which may influence Gold's trajectory. Technical analysis: Gold is currently recovering from its downward push to the $2000 mark after not being...

TradingFXio

Building on the previous session's momentum, EUR/USD continues to showcase some weakness. Despite a higher Euro CPI, consistent with expectations, and a rise in the U.S. CPI last week, the pair remains weak, hinting at bearish sentiment in the market. Technical analysis: The pair has broken the supporting trendline it was struggling to hold during our last...

TradingFXio

After the previous session's analysis, USD/JPY has sustained its upward trajectory, showcasing a bullish stance with a higher-than-expected U.S. CPI. The pair's rise suggests a strong bullish sentiment as it tests the major resistance level. Technical analysis: USD/JPY's advancement is characterized by a newly formed bullish channel, underscoring the pair's...

TradingFXio

The GBP/USD pair has experienced a notable downturn during the last trading session, diverging from its previously bullish path. This movement comes in the wake of the U.S. CPI data coming in higher than expected, which has generally strengthened the USD across the board. Technical analysis: The pair broke through the ascending support trendline, indicating a...

TradingFXio

In light of the last session's analysis, Gold has displayed resilience, with prices stabilizing despite a higher than expected U.S. CPI which typically would strengthen the USD and pressure Gold prices. Instead, we see Gold maintaining its ground, indicative of underlying strength in the commodity market. Technical analysis: The chart shows Gold oscillating...

TradingFXio

As we continue to follow EUR/USD, we closed some positions in profit as the pair is in a consolidation phase. The pair is currently trading around 1.096, trying to break that minor support. As long as the price is following its bullish trend line on the higher timeframes, it remains bullish although it is looking pretty weak with low volume. Technical...

TradingFXio

In the recent market sessions, GBP/JPY has shown a robust upward movement, signaling a bullish trend as it climbed above key resistance levels. The pair's strength is noteworthy, particularly in the context of the current economic landscape. Technical analysis : GBP/JPY's momentum is evident as it continues to hold above the significant 185.00 psychological...

TradingFXio

Following last week's weakness, GBP/USD is now exhibiting a consolidation pattern, hovering around key levels as market participants evaluate their positions. The pair has been oscillating between the resistance at 1.2620 and support at 1.2820 for quite some time now. Technical Insights: The currency pair remains locked within a tight range between 1.2700 and...

TradingFXio

Gold's recent price action reflects a market in a tug of war, with technical indicators painting a cautious picture. The CFDs on Gold chart reveals a struggle to maintain ground above the $2,020 level, a possible pivot point. Technical analysis: The precious metal is currently testing the waters of the lower boundaries of its descending channel, with a short-term...

TradingFXio

USD/JPY Market Sentiment & Technical Forecast In our last analysis, we showed how the USD/JPY pair presented a bearish narrative, continuously trading within a descending channel pattern. The crucial moment came when the price broke out of that channel and moved to the upside, retesting its last lower highs at 143.00 and 144.00, retesting and establishing them as...

TradingFXio

As we continue to hold some of our EUR/USD positions, we entered a few new positions on the pair. Recent sessions have seen the currency touching the 1.090 support, a 0.618 Fibonacci retracement level from its high, suggesting a potential bullish reversal in the making as this whole week it has been moving downwards making a correction. Technical Landscape: ...