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Analyzing Market USD/JPY: Japanese Intervention Risks At the beginning of Wednesday, the USD/JPY pair continued to hover below 155.00, a clear signal of the strength of the Japanese Yen. This stability is primarily supported by underlying risks of impending intervention from Japan. A slight decline in the US Dollar and US Treasury bond yields is also weighing on this currency pair. However, chart analysis reveals that the price is still supported by an upward trend, bolstered by technical indicators such as the Relative Strength Index (RSI) and the Simple Moving Average (SMA). If the price breaks above the defensive level of 155.00, we could witness a strong upward momentum for this currency pair.
by Stephen_Anders
EUR/USD Analysis: Downward Momentum Holds as Dollar (USD) StrenOverall, EUR/USD is still maintaining a downward trend. EUR/USD has dropped to near the 1.0620 level at the beginning of the Asian trading session on Wednesday. This indicates the strength of the US Dollar compared to the Euro in recent times. However, when looking at the technical charts, we can see some positive signals suggesting that the price may be preparing for a corrective phase. It is predicted that the price will test the SMA 20 area before it could bounce back and continue the downward trend.
by Daisy_Anna
Technical Analysis: Gold Market Continues Upward TrendDespite the fluctuations, Gold has maintained a stable upward momentum due to the crisis and political tensions in the Middle East region. Investors continue to bet on the Federal Reserve's interest rate cut in July, currently placing bets at around a 41% likelihood. Based on technical analysis, the upward trend of Gold appears likely to continue. On the 4-hour chart, the price of Gold is supported by the SMA 20 line and technical indicators such as the RSI also show positive signals. This suggests that the Gold market may continue its upward trend in the near future, providing opportunities for investors.
OANDA:XAUUSD
by Stephen_Anders
1
Chart Analysis: Rising Risk of Gold Price DeclineOverall, the price of Gold is still maintaining its upward momentum. In the Asian trading session on Tuesday, the price of gold continued to rise below the $2,400 mark. However, political tensions in the Middle East are gradually easing, and strong economic data from China could potentially slow down the pace of gold's ascent. Looking at the 4-hour chart, we also see an increasing risk of decline. The support level of the Simple Moving Average SMA 20 is currently at $2,356, while longer-term SMAs are indicating a loss of some upward momentum. Predicted that if the price surpasses the SMA 20 level and continues to decline towards the support levels of SMA 50 and SMA 100, there is a possibility that the price of gold will start a significant downward trend.
OANDA:XAUUSD
by Stephen_Anders
1
Gold Prices Rise on Powell's Remarks Amid Middle East TensionsAt the end of Tuesday's US trading session, the price of gold rose higher by 0.22%, following Federal Reserve Chairman Jerome Powell's hawkish remarks. This provided a favorable momentum for gold's growth amid escalating political tensions between Iran and Israel. Looking at the chart, it's evident that the price of gold is heading towards the target of 2,400 USD. Breaking through this threshold won't just mark a significant milestone but also present an opportunity for gold to surge further, with potential subsequent levels reaching 2,431 USD and 2,450 USD.
OANDA:XAUUSD
by Daisy_Anna
BNB/USDT 4HInterval ChartHello everyone, let's look at the 4H BNB to USDT chart, as we can see the price is approaching the lower border of the horizontal trend channel, which is located in the support zone from $517 to $486, while a break from the bottom of the channel and a drop below this zone can give a strong downward movement towards the support level of $396. Looking the other way, if the declines were stopped, the price has several significant resistance levels. And here you can see the first resistance at $558, then the second one at $592, the third one at the last peak at $645, and then you can see the way towards $732. Looking at the RSI indicator, there is still room for a greater recovery, while the STOCH indicator indicates that the lower limit has been exceeded and confirms the current price rebound.
by cryptodailyuk
BTC - A look at 12H chart - Possible bounce back#BTC/USDT #Analysis Description --------------------------------------------------------------- + BTC is presently retracing from the resistance line and moving towards the next support level around 66-67K. + It's reasonable to anticipate a price rebound once it reaches the support level. Such a rebound could provide substantial momentum for breaking out from the resistance line. + We'll consider initiating a long trade once the resistance breakout is confirmed. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 73000 Stop Loss: 64000 ------------------------------ Target 1: 77000 Target 2: 79000 Target 3: 82000 Target 4: 86000 ------------------------------ Timeframe: 12H Capital Risk: 1-2% of trading capital Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
Technical Analysis: Adjustment in USD/JPYUSD/JPY is still maintaining a strong upward trend, reflecting the strength of the USD against the Japanese Yen. However, when looking at the chart, the Relative Strength Index (RSI) indicates signs that the market is trading in overbought territory. This suggests that there is a possibility for USD/JPY to experience a correction or a price decrease before continuing its upward trajectory. Therefore, investors may need to wait for a pullback or adjustment before making new investment decisions.
by Daisy_Anna
GBP/USD Volatility: Short-Term Upward PotentialThe British Pound continued its decline to $1.2410 USD as the UK's Office for National Statistics (ONS) reported weak labor market data. From a technical perspective, the GBP/USD pair remains supported in its downward trend, with expectations of further decline towards the round support level at $1.2400 USD. However, there are positive signs when looking at the 4-hour chart, as prices are gradually adjusting and shifting towards a short-term upward trend. Anticipated that there will be a phase of increase towards the Simple Moving Average SMA 20, before a subsequent downward adjustment.
by Stephen_Anders
2
GBP/USD Stability and Future TrendsGBP/USD traded slightly lower on Tuesday, below the 1.2450 level during the early European trading session. Despite some minor fluctuations, overall, the GBP/USD pair maintains a downward trend. This stability is encouraging investors to proceed with caution when entering the market. However, prices are gradually adjusting and expected to rise again. Yet, they still encounter resistance at the SMA 50 level. If prices surpass this barrier and advance towards the SMA 100 line, we may witness a strong upward momentum, unveiling new opportunities in the market.
by Daisy_Anna
The Potential for EUR/USD Price AppreciationEUR/USD continues to decline sharply, trading near the 1.0610 USD level during the Asian session on Tuesday. This downward trend is attributed to the strength of the USD, driven by strong signals of economic growth in the United States. On the 1-hour chart, we can observe that the price is gradually rebounding after a period of steep decline. It is forecasted that the price will test the Simple Moving Average (SMA) 20. If the price continues to test above SMA 20 and then advances towards the resistance levels around SMA 50 and subsequently SMA 100, the strong recovery of the price could be the result of market reassessment of the economic and political situations of the involved countries.
by Daisy_Anna
EUR/USD Downtrend Intact, Signals Further DeclineThe EUR/USD pair continues to drop sharply, nearing the 1.0610 USD level during the Asian trading hours on Tuesday. This decline is driven by the strong growth momentum of the USD, propelled by pressure from higher bond yields in the United States. From a technical standpoint, the downtrend of EUR/USD remains firmly intact. On the 4-hour chart, the downward trend is still evident, supported by prices trading below the simple moving averages (SMA). Additionally, the Relative Strength Index (RSI) has slipped below the 23 level, indicating an imbalance between buying and selling pressure and the potential for further decline
by Stephen_Anders
ETH is in a loss phase againHello everyone, let's look at the 4H ETH to USDT chart, you can see how the price is moving in a downtrend channel, from which exiting at the bottom could result in a strong downward movement in the height of the channel itself. Let's start by setting goals for the near future that we can include: T1 = $3,327 T2 = $3,622 T3 = $4,104 AND T4 = $4863 LONG TERM Now let's move on to the stop-loss in case of further market declines: SL1 = $2,903 SL2 = $2580 SL3 = $2166 AND SL3 = $2166 Looking at the RSI and STOCH indicators, we can see that there is still room to continue the current recovery.
by cryptodailyuk
Bitcoin Volatility Market AnalysisBitcoin (BTC) is currently experiencing a rather volatile period. Generally, the downward trend is still being maintained. However, it is noteworthy that the price of BTC is gradually adjusting and showing signs of resurgence. Based on technical analysis, the 4-hour chart indicates that BTC may test the SMA 20 area in the near future. However, this does not guarantee that BTC will sustain this upward trend. After testing the SMA 20 area, the price may face strong downward pressure. Therefore, investors need to be cautious and closely monitor market fluctuations to make informed investment decisions.
OANDA:BTCUSD
by Daisy_Anna
Technical Outlook: USD/JPY's Surge USD/JPY surpassed the 154.00 level during Monday's U.S. trading session. On the 4-hour chart, technical indicators are strongly supportive of further price increases. However, the Relative Strength Index (RSI) suggests that the market is overbought, which could lead to a short-term price correction before resuming its upward trend. While this may temporarily decrease prices, it also presents a buying opportunity for investors looking to join the uptrend.
by Daisy_Anna
GBP/USD is expected to undergo a short-term upward correction GBP/USD has recently experienced a period of lackluster recovery and has dropped below the 1.2450 USD. Overall, the price of the GBP/USD currency pair is maintaining a downward trend due to lingering political tensions from the Middle East countries. Technical indicators also support this downward trend, bolstering its strength. However, prices are gradually correcting upwards and showing signs of testing the SMA 20 area in the near future.
by Daisy_Anna
Analyzing GBP/USD Volatility In the European trading session on Monday, the GBP/USD currency pair experienced a strong surge, pushing the price towards the 1.2500 level. This indicates that the US dollar has depreciated against the British pound. On the 4-hour chart, the Relative Strength Index (RSI) has crossed above the 30 threshold, indicating that the GBP/USD is undergoing a corrective phase to recover and continue its upward momentum. The downward trend of the GBP/USD could be attributed to various factors, including the economic and political situation in both the UK and the US, as well as global factors such as market volatility. Analyzing and evaluating these factors is crucial to achieving an effective and successful trading strategy.
by Stephen_Anders
Forecast EUR/USD to Recover in the Short TermThe EUR/USD pair is showing strength with a recovery above 1.0650 during the European trading session on Monday. However, it cannot be denied that the pair is facing downward pressure as the European Central Bank (ECB) and the Federal Reserve (Fed) announce differing prospects for monetary policy. Although the price continues to maintain a downtrend, this currency pair is encountering a challenge. This is evidenced by the price being in oversold territory, which is a positive sign of adjustment and a resurgence in upward movement. It is expected that the price will increase in the short term and touch the SMA 20 area before undergoing a sharp decline.
by Stephen_Anders