Tag: forex

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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Weekly data: Oil and Gold price action before the NFP
May 26, 2023 BY Steffy Bogdanova

Daily Report: XAU/USD appears vulnerable

Short-Term Support Breach? While the bigger picture (daily chart) displays room to push lower, H1 support at $1,945 is vulnerable. Overhead resistance at $1,955 remains on the radar, but the zone surrounding the base (often recommended to draw support/resistance as a zone rather than a defined price point) has been tested. Therefore, a decisive H1…

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May 25, 2023 BY Steffy Bogdanova

Daily Report: GBP/USD Continues to Navigate Deeper Waters

GBP/USD Direction Given the scope to post additional underperformance, GBP/USD is likely to cross beneath H1 support from $1.2356 and target $1.23, followed by daily support mentioned above at $1.2272. A H1 close lower, therefore, could ignite breakout selling. (Chart: TradingView) Last week's report: Daily Report: Commodities displaying bearish tone... Read More Disclaimer: The information…

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Market Analysis
May 17, 2023 BY Steffy Bogdanova

Daily Report: Commodities displaying bearish tone

WTI Oil Daily Timeframe. The price of oil has been on a downward slide since topping at $126.35/bbl, pencilling in a series of lower lows and lower highs since March 2022. I did note that since the unit chalked up a lower low at $63.94 (4 May), a move which reaffirmed the market’s bearish bias,…

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May 15, 2023 BY Steffy Bogdanova

Weekly data: GBPUSD & USOIL action before GDP data

On the technical side, the price on the cable chart has found resistance on the upper band of the Bollinger bands and has since corrected to the downside, with today's candlestick ticking to the upside at the time of this report. The 50 SMA has crossed is still trading well above the 100 SMA, indicating…

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Reduced retail sales curbs the pound
May 12, 2023 BY Steffy Bogdanova

Daily Report: GBP/USD eyeing break of $1.25

GBP/USD: Downside Move Unsurprising GBP/USD initially rose following the announcement to increase the Bank Rate, though it failed to find acceptance north of the $1.26 level. Subsequent flow witnessed a one-sided decline unfold to $1.25 during US trading. The recent bout of selling should not have raised too many eyebrows, particularly for those who adopt…

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