On the hourly chart, the GBP/USD pair returned to the resistance zone of 1.2788–1.2801 yesterday. Another reversal in favor of the dollar may occur around this zone, initiating a downtrend toward the support zone of 1.2690–1.2705. The decline is still very weak as the market awaits new data on the labor market and unemployment, which…
On Wednesday, the EUR/USD pair rebounded from the corrective level of 76.4%–1.0892, a slight decline, and today—a new return to this level and a new rebound. Trader activity yesterday was quite low, but it may sharply increase today. The decline in quotes may continue towards the Fibonacci level of 61.8%–1.0837. Consolidating the pair’s rate below…
Analysis of transactions and tips on trading the British pound The price test of 1.2782 came when the MACD indicator started rising from zero, which seemed like a suitable option to buy the pound. Unfortunately, after an increase of 10 points, the pressure on the pair returned. By the middle of the American session, there…
Analysis of transactions and tips on trading the Japanese yen The price test of 155.94 came when the MACD indicator was starting to move down from zero, which confirmed the scenario for the dollar sale. However, losses were recorded on the deal since it never came to a downward movement. Strong statistics on activity in…
Trade Analysis on Wednesday: 1H Chart of the GBP/USD Pair The GBP/USD pair also traded with an upward trend on Wednesday. Three reports were published in the UK and the US throughout the day, which could have influenced the pair’s movement. The UK Services PMI did not show a significant value. The US ADP employment…
Analysis of Macroeconomic Reports: There are a few macroeconomic events scheduled for Thursday. In the Eurozone, a more or less significant report on retail sales will be published. In the UK, a secondary report on the Construction PMI will be published. In the US, a secondary report on jobless claims will be published. These reports…
On the hourly chart, the GBP/USD pair on Tuesday consolidated above the zone of 1.2363–1.2370 and rose to the corrective level of 50.0% (1.2464). A rebound of quotes from this level will allow traders to count on a reversal in favor of the American currency and some decline toward the zone of 1.2363–1.2370. Consolidation of…
In my morning forecast, I pointed out the level of 1.0688 and planned to make decisions based on it for market entry. Let’s take a look at the 5-minute chart and analyze what happened there. The decline and the formation of a false breakout led to a signal to buy euros. However, significant pair growth…
In my morning forecast, I focused on the level of 1.2423 and planned to make decisions based on it for market entry. Let’s take a look at the 5-minute chart and analyze what happened there. The decline and the formation of a false breakout around 1.2423 led to a signal to buy the pound in…
EUR/USD is trading around 1.0695 within the uptrend channel forming since April 15, above the 21 SMA, and above the 2/8 Murray. On the H4 chart, we can see that the euro is showing signs of exhaustion. So, a technical correction is likely to occur in the coming hours. The key point for the euro…