Market Analysis
May 31, 2022
GBP/USD broke resistance at 1.2600. Bullish trend line has formed support near 1.2550. The British Pound, US Dollar pair started to climb after breaking above the 1.2400 resistance level. GBP/USD...
May 31, 2022
Bitcoin (BTC) rose more than 10% late yesterday as bulls pushed higher following a nice breakout earlier in the day. The BTC price inched to intraday highs above $32,000 ( BTC/USD hit highs of...
May 30, 2022
Talking Points: Refreshing daily tops, the NZD/USD pair takes trades and moves higher around the monthly top. Paul Convay from the Reserve Bank of New Zealand (RBNZ) predicts lower inflation in H2...
May 30, 2022
EUR/USD turned bullish after testing support near 1.0350. Bullish trend line has formed support near 1.0665. The Euro, US Dollar pair gained momentum after breaking above the 1.0500 level. EUR/USD...
May 27, 2022
USD/JPY started to decline after breaking below support at 128.80. Bearish trend line has formed resistance near 127.65. The US Dollar, Japanese Yen pair started a fresh decline from well above...
May 27, 2022
Corn price is trading at its lowest level in about six weeks. Improved pace of planting and waivers related to the summer gasoline blend are the key bearish drivers. In the WASDE Report released...
May 26, 2022
The Crude Oil price continues to trade above $109.00. Bullish trend line has formed support near $108.50. The Crude Oil, US Dollar price corrected lower after testing resistance near $113.20. XTI/USD...
May 26, 2022
The Turkish lira continued its downward trend ahead of the upcoming interest rates by the Central Bank of the Republic of Turkey. The USD/TRY pair rose to a high of 16.36, which was the highest level...
May 26, 2022
Talking Points: XAG/USD accepts trades to extend the previous day’s decline from the two-week high and renews the daily low. Within a one-week-old ascending channel, a three-day-old descending...
May 25, 2022
EUR/GBP started a fresh climb after testing support near 0.8430. Bullish trend line has formed support near 0.8460. The Euro, British Pound pair started to climb from below the 0.8440 level. EUR/GBP...
May 24, 2022
GBP/USD started an upside correction from below 1.2200. Bearish trend line broken with resistance near 1.2460. The British Pound, US Dollar pair started to recover after breaking above the 1.2300...
May 24, 2022
Talking Points: On stronger Japan PMI, the GBP/JPY has recovered a little after falling to around 160.30. To address the inflation problem, the Bank of England (BOE) is likely to raise interest rates...
May 24, 2022
The US dollar index has retreated as constituent currencies retreated. DXY is trading at $102.30, which is about 2.16% below the highest level this year. It still remains about 8.12% above the...
May 23, 2022
EUR/USD started an upside correction after testing support near 1.0350. Bearish trend line broken with resistance near 1.0490. The Euro, US Dollar pair started to recover from below the 1.0400 level....
May 23, 2022
Talking Points: Inside a five-week bullish chart setup, XAU/USD defends its first weekly gain in five weeks. The USD is under pressure ahead of the Federal Open Market Committee (FOMC) Minutes due to...
May 23, 2022
Wall Street’s three main indexes weakened last week as surging inflation and rising interest rates continue to keep investors in a negative mood. Recent disappointing forecasts from big retailers...
May 20, 2022
USD/JPY started a downside correction after testing resistance near 131.50. Bullish trend line broken with support near 129.40. The US Dollar, Japanese Yen pair started downside correction after a...
May 20, 2022
US stocks continued to sell off on Thursday as a volatile trading day ended with the major indexes down again. After closing lower by 4% on Wednesday, the S&P 500 gave up late gains to close 0.6%...
May 19, 2022
USD/CAD started to decline after testing resistance near 1.3080. Bearish trend line has formed resistance near 1.2860. The US Dollar, Canadian Dollar pair started to decline from above the 1.3000...
May 19, 2022
Crude oil price has bounced off Tuesday’s lows following an improved demand outlook. Brent futures are back above $113.00 per barrel to $113. 55 as at 08:12 a.m GMT. At the same time, WTI futures...
May 18, 2022
AUD/USD started to recover after testing support near 0.6828. Bullish trend line has formed resistance near 0.6970. The Australian Dollar, US Dollar pair started to recover from below the 0.6850...
May 18, 2022
Talking Points: LTC is trading around 72.8 USD, indicating a speedy return to the norm. If LTC can break through the 82.3 USD barrier, bulls can expect a 30 % increase. The bullish premise will be...
May 18, 2022
EUR/GBP reacted the most to the better than expected UK employment data. Earlier today, the Claimant Count Change and the Unemployment Rate declined more than the market expected, triggering a rally...
May 17, 2022
GBP/USD started to correct upwards after testing support at 1.2150. Bearish trend line broken with resistance near 1.2250. The British Pound, US Dollar pair tested support near 1.2150 before...
May 17, 2022
Talking Points: On Reserve Bank of Australia (RBA) Minutes, AUD/JPY receives trades to refresh intraday highs. According to the Minutes, policymakers also discussed a rate hike of 40 base points...
May 17, 2022
The Swiss franc relentless crash continued on Monday. The USD/CHF pair has risen in the past seven straight weeks and is trading at the highest point since May 2019. Similarly, the EUR/CHF pair has...
May 16, 2022
EUR/USD started a fresh decline after testing resistance near 1.0640. Bearish trend line has formed resistance near 1.0470. The Euro, US Dollar pair continues to trade below the 1.0800 level. EUR/USD...
May 16, 2022
Talking Points: XAU/USD maintains its rebound off a three-month low despite a cautious outlook. As softer data joins Powell’s 50 basis point (bps) rate hike forecast, the US Dollar Index (DXY)...
May 16, 2022
Wall Street’s three main indexes advanced on Friday after Federal Reserve Chair Jerome Powell said that a 75 basis point increase is not being “actively” considered. Federal Reserve Chairman...
May 13, 2022
Bitcoin BTC/USD is by far one of the largest cryptocurrencies in terms of market capitalization.Many cryptocurrencies have been inspired by it, and some are even utilizing it for various use-cases....