Category: Market News

Reduced retail sales curbs the pound
June 29, 2023 BY Steffy Bogdanova

Technical analysis: Sterling under pressure following gov. Bailey’s comments

Higher Timeframe Technical View The technical position for GBP/USD reveals price fading long-term resistance on the weekly scale at $1.2767, boasting historical significance as far back as 2016. Consequently, GBP selling should not surprise. Support on the weekly scale is relatively nearby, nevertheless, in the shape of a trendline resistance-turned-support taken from the high of…

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June 27, 2023 BY Steffy Bogdanova

Weekly data: GBPUSD & gold price action

GBPUSD, daily The negative Claimant change on the 13th as well as the decline in unemployment figures in the United Kingdom had a positive effect on the quid against the dollar while the pausing of the Fed on the 14th had also contributed to the gains seen on the daily chart of the cable pair.…

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European stock market experiences positive change
June 27, 2023 BY Steffy Bogdanova

Technical analysis: Buyers to likely remain in control on USD/JPY

H1 Timeframe Working with ¥144 and ¥143 Finally, from the H1 timeframe, we can see that price recently recoiled from ¥143 and is on the verge of approaching resistance from ¥143.90 and the ¥144 psychological handle. While follow-through upside could be seen, as suggested by the higher timeframes (through a lack of resistance), which may…

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Reduced retail sales curbs the pound
June 21, 2023 BY Steffy Bogdanova

Technical analysis: GBP/USD ahead of CPI data

On the daily timeframe, however, support is not visible until $1.2665, indicating that further downside could be seen for the pair. In terms of resistances, $1.3001 calls for attention on the daily timeframe, followed by weekly resistance at $1.3134. From the H1 chart, the US cash open welcomed an AB=CD harmonic support level at $1.2722…

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June 13, 2023 BY Steffy Bogdanova

Weekly data: Focus on EURUSD and AUDUSD

EURUSD Euro doesn’t have any significant driving narrative against the US dollar, that’s why it’s likely to observe a reversal after the interest rate publication. The overall dynamics of EURUSD remain to be “technical”, as there’s no clear fundamental narrative is detected. AUDUSD The Australian dollar gained significant momentum after RBA raised the interest rate…

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Market Analysis
June 13, 2023 BY Steffy Bogdanova

Daily Report: GBP/USD Ahead of UK Jobs and US CPI Data

$1.25 Resistance? Out of the H1 timeframe, I see the unit elbowed through $1.25 recently and is poised to retest the lower boundary as resistance. I know some traders will be watching the structure to the left of the price between $1.2427 and $1.2453 to form potential support (blue curve), though trendline support taken from…

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June 07, 2023 BY Steffy Bogdanova

Weekly data: Gold and AUDUSD in focus

AUDUSD  The Australian dollar had performed an uptick following the unexpected rise of the interest rate from RBA. This reaction might be temporary, though now Aussie is of the few currencies, gaining higher yields in real-time. Considering the position of AUDUSD at the intermediate-term resistance area, it may pull back as shown on the chart,…

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