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GBP/USD Recovery, Expected to Extend the Upward MomentumGBP/USD is rebounding towards the 1.2450 level in early Europe on Friday, after testing the 1.2400 mark. Looking at the chart, we can see an upward trend being established, with prices surpassing the simple moving averages (SMA), indicating the strength of the recovery. Additionally, the Relative Strength Index (RSI) is trading above the 50 level and is expected to reach 60, showing that the growth is being fueled and could develop strongly in the near future.
by Stephen_Anders
Chart Analysis: GBP/USD DowntrendGBP/USD is rebounding towards the level of 1.2450 in early Europe on Friday, after testing the level of 1.2400. The GBP/USD pair still maintains its weakness due to the deepening geopolitical tensions, particularly following Israel's attack on Iran. Looking at the chart, we can see that the price is still maintaining below the SMA line, despite the recovery effort, it faces resistance near the SMA 20 line. Furthermore, the Relative Strength Index (RSI) is trading below the 50 level, signaling that the price may continue its downward trend.
by Daisy_Anna
"EUR/USD Continues Decline Below 1.0640 Amid Fed CommentsIn Friday's Asian trading session, EUR/USD continued to decline below the 1.0640 level after reaching a peak near 1.0690 on the previous Thursday. Comments from officials at the Federal Reserve (Fed) provided some support for the US Dollar, driving down the EUR/USD pair. On the 4-hour chart, we observe that prices have tested all the SMA lines, indicating that the downward trend is gaining strength. This suggests that selling pressure is increasing in the market and the US Dollar is strengthening significantly against the Euro.
by Daisy_Anna
Gold Shows Signs of Recovery, Targets $2,400 MarkGold experienced a volatile session on Wednesday, dropping to $2,354 in the US trading session. Despite the price decrease, there are signs of a mild recovery. Expectations are high for gold to surpass the $2,400 mark. Based on technical analysis, the price is gradually recovering and heading upwards. If the price continues to rise and surpasses the 60 level, it could be predicted that the price will reach the psychological threshold of $2,400 and continue its upward momentum to the previously established peak of $2,431.
OANDA:XAUUSD
by Stephen_Anders
5
LTC/USDT 1DInterval ChartHello everyone, let's take a look at the LTC to USDT chart on a one-day time frame. As you can see, the price had a dynamic decline and a temporary descent below the upward trend line, but has now returned to the trend line level. Let's start by determining the support line and as you can see, the price dropped and quickly returned to support around the level of $77.74, then there is an important support level at $68, and then a very strong support level at $56. Looking the other way, you can see how strong the resistance level is again at $92.5, which may stop the price from rising again to the resistance zone from $102.5 to $115. Looking at the RSI indicator, we can see how we remain in a downward trend and the confirmation of a return to the downward trend, while the STOCH indicator bounced off the lower end of the range with room to give a greater increase in the current price rebound.
by cryptodailyuk
Seize the Crypto Momentum: Double Bottom Training for a Bright FAn exceptional opportunity looms on the horizon for the JUV cryptocurrency! The chart reveals a perfectly orchestrated Double Bottom formation, marking a potential bull turn. With the two troughs aligned, we hit a sturdy stand, indicating constant buying pressure. The recent rupture of the neck line, accompanied by an increase in volume, confirms the trend. This is the critical moment when previous resistances become supports, paving the way for soaring prices. By applying W amplitude measurements from the neck line, we project bold bullish targets.
Long
by ATheDay
USD/JPY Rebounds: Japan's Intervention Boosts USD/JPYThe strong recovery of the USD/JPY pair is attracting attention, reflecting Japan's intervention to temporarily address the weakness of the Japanese Yen (JPY). Technically, on the chart, the strength of the upward momentum is clearly evident. The Relative Strength Index (RSI) is stabilizing around the 60 level, indicating a significant upward trend of this currency pair. Additionally, the price is gradually adjusting on the Simple Moving Average (SMA), signaling a positive indication of the potential continuation of the upward trend.
by Stephen_Anders
Strong Momentum: Japanese Intervention Boosts USD/JPYThe USD/JPY pair is currently demonstrating a strong upward momentum, attracting significant attention from investors. This increase is driven by momentum from Japan, particularly through interventions by the Japanese government and the Bank of Japan (BoJ). Looking at the chart, we observe that the Relative Strength Index (RSI) is trading above the 60 level, a positive sign indicating that USD/JPY is on a strong upward trajectory. However, investors need to exercise caution and continue monitoring economic conditions and fluctuations in monetary policy to make informed investment decisions.
by Daisy_Anna
GBP/USD's Rise Outlook, Targeting 1.2500 Resistance LevelThe British Pound (GBP) extended its gains to 1.2480 in Thursday's European trading session. The GBP/USD pair is experiencing a period of heightened increase, propelled by a strong adjustment in the US Dollar, alongside growing expectations that the Bank of England (BoE) will postpone interest rate cuts. The GBP/USD pair is rebounding from the 1.2400 level and focusing on surpassing the psychological resistance level of 1.2500. The Relative Strength Index (RSI) is currently trading above the 60 level, a positive sign indicating that GBP/USD may continue its strong growth trajectory in the near future.
by Stephen_Anders
GBP/USD Extends Recovery Amid Dollar WeaknessThe GBP/USD is extending its recovery rally towards the 1.2500 level in Thursday morning's European session. This currency pair continues to be supported by the prolonged weakness of the US Dollar along with low-interest rates of US treasury bonds. On the 4-hour chart, we observe that the GBP/USD has crossed above the 20-period Simple Moving Average (SMA), signaling positive signs of price recovery. If prices continue to rise and surpass both the SMA 50 and SMA 100, we can expect a stronger upward movement.
by Daisy_Anna
EUR/USD Seizes Recovery Opportunity Amid Dollar PressureThe EUR/USD currency pair is seizing the opportunity for recovery after a period of sharp decline. This resurgence is being strongly driven by the downward pressure on the US Dollar, opening up a wide door for the Euro to push prices back towards the highs. The target for the EUR/USD pair is the vicinity of the SMA 50 area, close to the 0.5-0.618 Fibonacci level. This marks a significant step in restoring strength and momentum for the Euro, laying the groundwork for further growth phases.
by Stephen_Anders
2
EUR/USD Surges in Asian Trading, Driven by US Dollar WeaknessThe EUR/USD currency pair has surged higher, reaching the level of 1.0672 on Thursday at the start of the Asian trading session. This recovery is being strongly propelled by the downward pressure on the US Dollar, opening up a wide door for the Euro to recover and increase in value. Looking at the chart, we can easily observe the transition from a downtrend to an uptrend. It is predicted that prices will continue to rise and reach the area near the 0.5 - 0.618 Fibonacci retracement level, closely approaching the Simple Moving Average SMA 50.
by Daisy_Anna
Short-Term Outlook: Potential Upside Correction in EUR/USDOverall, EUR/USD is currently reflecting a downward trend due to the strong growth pressure of the US dollar (USD). This pressure has pushed prices down near the 1.0620 level in the early Asian trading session on Wednesday. However, technical analysis suggests that the market may experience a short-term upward correction. The possibility of prices rising to touch the SMA 50 area and approaching the 0.5 - 0.618 Fib zone indicates support for short-term price declines against the strong pressure of the US dollar (USD).
by Stephen_Anders
1
Chart Analysis: Gold's Downward Trend and Potential ReboundGold hit its lowest price of the week at 2,354 USD in Wednesday's US trading session, failing to surpass the 2,400 USD mark. The inability to reach the 2,400 USD milestone has cast uncertainty over Gold's upward momentum, leading to a decline in its price. Looking at the 1-hour chart, we can observe the downward trend of the gold price based on trading below the Simple Moving Averages (SMA). Despite signs of adjustment and recovery, the market remains unstable. Predictions suggest that the price may recover to the SMA 100 level before continuing its sharp decline.
OANDA:XAUUSD
by Daisy_Anna
How far can the price of BTC go ?The chart shows the levels to which the BTC price may drop in the coming days/weeks. Currently, we can see that the price is based on the support at the 0.382fib level at the price of $60,000. I further identified a strong support zone from $55,000 to $52,000, which is between 0.382fib and 0.618fib, taking into account two fib retracement grids and trend-based fib extension. The third place is the second very strong zone from $43,487 to $38,591, located between the 0.618fib and 1fib levels of the previously mentioned fib grids. When we look at the RSI indicator, we will see a break at the bottom from the trend line, under which there is room to continue the downward trend. However, the STOCH indicator shows a descent below the lower limit, which previously resulted in a change of movement path, which in this case may return the price to the upward trend. Currently, the correction level reaches 18%, which is a relatively small decrease compared to the earlier stages of the growth market. However, here I do not expect a descent below the first support zone, at which the correction would be around 30%.
Short
by cryptodailyuk