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Market Analysis

GBP/USD Consolidates Below 1.2350

July 29, 2022

GBP/USD is facing strong resistance near 1.2400. Bearish trend line has formed resistance near 1.2420. The British Pound, US Dollar pair declined sharply from the 1.2500 level. GBP/USD traded as low...

What Next For USD/MXN After Sudden Surge in Mexican CPI

July 8, 2022

The USD/MXN price is hovering near the highest point since March this year after Mexico published strong consumer inflation data. The pair is trading at 20.6157, slightly below this week’s high of...

Below 19.50 USD, a Silver (XAG/USD) Recovery Remains Difficult

July 8, 2022

\ Talking Points: XAG/USD Price increases bids to recoup losses at a two-year low. Dojis during the past two days suggests a lack of consensus among traders, and an oversold relative strength index...

The Gold Price Could Slide Further

July 7, 2022

Gold price failed to recover above $1,770. Bearish trend line has formed resistance near $1,812. The Gold, US Dollar price attempted a recovery above the $1,810 level before declining rapidly....

West Texas Intermediate (WTI) Hits Biggest Daily Loss in Four Months Around 99.00 USD

July 6, 2022

Talking Points: WTI continues the corrective pullback to its lowest levels since late April. After a turbulent day where fears of an economic slowdown flooded commodities, bears take a break. In the...

GBP/USD at Risk of Further Losses

July 6, 2022

GBP/USD broke below support at 1.2000. Bearish trend line has formed resistance near 1.2190. The British Pound, US Dollar pair started to decline from the 1.2400 resistance level. GBP/USD traded...

Could the Japanese Yen Be Starting To See Signs Of Recovery?

July 6, 2022

2022 turned out to be the year of the JPY pairs breakout. The yen’s depreciation against its peers continues, with many traders seeing the move already as overextended. Sure enough, the yen...

EUR/GBP Pair Remains Bullish Above 0.8600

July 5, 2022

Talking Points: Within a 13-day-old bullish channel, EUR/GBP remains slightly bid. The 200-day simple moving average (SMA) reinforces support at 0.8560, and a stable relative strength index (RSI)...

USD/TRY Surges After Latest Inflation Data Revealed

July 5, 2022

The Turkish lira continued its bearish trend on Monday after the latest consumer inflation data. The USD/TRY price jumped to a high of 16.82, which is the highest it has been since June 27th of this...

US Dollar Index (DXY) Bulls Approach the Previous Two Week’s High of Around 105

July 1, 2022

Talking Points: DXY records its largest daily loss in two weeks. Before the most recent rally, worries of a US recession and unfavourable statistics weighed on the USD. The USD gains additional...

AUD/USD Pulls Back Below 0.6900

July 1, 2022

AUD/USD tested resistance near 0.6920. Bearish trend line has formed resistance near 0.6960. The Australian Dollar, US Dollar started to decline from above the 0.7250 level. AUD/USD corrected higher...

What Does a Strengthening Dollar Mean for Silver?

June 30, 2022

Silver extended its correction from its recent highs above $26, and we could see even lower prices in the weeks ahead if the U.S. dollar remains strong. The demand for the dollar continues to grow as...

USD/CAD Looks Set for Fresh Climb

June 30, 2022

USD/CAD tested resistance near 1.3080. Bullish trend line broken near 1.2975. The US Dollar, Canadian Dollar pair corrected lower after testing resistance near the 1.3080 level. USD/CAD broke below a...

Gold (XAU/USD) Eyes Further Downside Towards 1,800 USD

June 29, 2022

Talking Points: The three-day slump continues as XAU/USD recovers off the weekly/daily low but remains under pressure. Price pressure from inflation and recession worries, news about China, and the...

Will West Texas Intermediate Rebound From its Recent Dip?

June 29, 2022

A lot has happened in the energy markets in 2022, especially in the oil markets. WTI crude oil price surged to $130 in the second quarter of the year, after only in 2020 it had traded in negative...

EUR/USD Eyes Further Gains

June 28, 2022

EUR/USD started to recover after testing support near 1.0360. Bullish trend line has formed support near 1.0535. The Euro, US Dollar pair declined sharply from the 1.0780 level. EUR/USD traded as low...

Bears Take Control of EUR/CHF After Sliding 400 Pips

June 28, 2022

June ends this week, and it brought several surprises to currency traders. One of them, perhaps the most unexpected, was the Swiss National Bank (SNB) hiking the interest rate by 50bp. Before going...

USD/JPY Corrects from 24-Year High

June 24, 2022

USD/JPY rallied to a 24-year high of 136.70. Connecting resistance trend line at 137.00. The US Dollar, Japanese Yen pair continued bullish above the 130.00 level. USD/JPY gained strength after...

After Unchanged Interest Rate Decision, What’s Next For USD/TRY?

June 24, 2022

The USD/TRY price continued rising after the Turkish Central Bank (CBRT) concluded its two-day monetary policy meeting. The pair is trading at 17.36, which is slightly below the all-time high of...

In a Cautious Market, AUD/USD Continues Losses Towards Critical Support Around 0.6855

June 23, 2022

Talking Points:  After an early comeback to close at 0.6930 the AUD/USD pair is in decline. Fears of a recession increase demand for the USD as a safe haven as Powell falls short. A test of the...

The Crude Oil Price Could Decline Further

June 23, 2022

Crude Oil price declined rapidly from the $113.00 level. Bullish trend line broken near $117.00. The West Texas Crude Oil price found strong resistance near the $125 level. WTI/USD broke below...

How Much Longer Can The NZD/USD Remain In Its Bearish Trend?

June 23, 2022

The NZD/USD price continued its bearish trend as investors focused on the weak consumer confidence and strong New Zealand trade data. The pair slipped to a low of 0.6240, which was the lowest level...

Gold (XAU/USD) Falls Below 1,830 USD As Concerns About Fed Chairman Powell’s Speach Later

June 22, 2022

Talking Points: After falling below the support level of 1,830.00 USD, XAU/USD prices have continued their losses. Given the out-of-control inflation rate, Fed Powell’s speech is anticipated to...

Is Polkadot (DOT) Worth a Punt After The Recent Sell-off?

June 22, 2022

Polkadot DOT/USD has weakened from $23.86 to $6.34 since April 02, and the current price stands at $7.81. Polkadot is an open-source project that enables cross-blockchain transfers of any type of...

USD/CHF Consolidates Above 0.9600; Further Losses May Follow

June 22, 2022

USD/CHF fell rapidly after testing resistance near 1.0050. Bullish trend line broken near 0.9900. The US Dollar, Swiss Franc pair fell rapidly from above the 1.0000 level. USD/CHF broke below support...

GBP/USD Looks Set for Fresh Gains

June 21, 2022

GBP/USD tested support near 1.1935. Bearish trend line has formed resistance near 1.2340. The British Pound, US Dollar started to decline from above the 1.2500 level. GBP/USD broke below the 1.2000...

AUD/JPY Bulls Flirt With the 200-Day Simple Moving Average (SMA) Above 94.00

June 21, 2022

Talking Points: The AUD/JPY pair has been grinding upward for the third day in a row but has recently retreated from its daily high. The minutes of the Reserve Bank of Australia (RBA) show the...

After a Hectic 2 Weeks, What Lies Ahead For Bitcoin?

June 21, 2022

Bitcoin BTC/USD is the largest cryptocurrency in terms of market capitalization, even despite the recent bearish run it has experienced. Hovering around the $20,000 price point, Bitcoin might...

EUR/USD Could Continue to Fall

June 20, 2022

EUR/USD found strong resistance near 1.0600. Bullish trend line broken near 1.0680. The Euro, US Dollar pair started to decline from above the 1.0750 level. EUR/USD broke below support at 1.0600 and...

In the Midst of Recession Fears, the S&P 500 Futures Remain Under Pressure

June 20, 2022

Talking Points: As economic uncertainties combine with aggressive Fed bets, the market mood remains negative. On the Juneteenth holiday, the S&P 500 futures remain depressed around the annual...