GBP/USD Analysis: The daily chart scale of the major pair of the British pound since last summer demonstrates the formation of a horizontal descending correction. By now, quotes have reached the boundaries of a strong potential reversal zone. The wave structure has developed a stretched flat correction since the beginning of March. Last week, the…
EUR/USD Analysis: Quotes of the European currency in the main pair have been forming a horizontal descending pennant since July of last year. The final part (C) is developing within the wave structure. Major quotes have pressed the upper level of a powerful potentially reversal zone. Last week, the price drifted, forming an intermediate retracement….
Overview of trading and tips on GBP/USD The price test of 1.2454 in the afternoon occurred at a time when the MACD indicator was just starting to move up from the zero mark, which confirmed the correct entry point to buy the pound. However, despite the bulls’ efforts, the pair did not sharply rise. The…
Overview of trading and tips on USD/JPY The tests of the levels I identified in the afternoon did not materialize. The pair managed to recover its losses, and it stayed near the daily high during the US session. It is unlikely that amid the lack of important US data, buyers will somehow take the initiative…
We introduce you to the daily updated section of Forex analytics where you will find reviews from forex experts, up-to-date monitoring of financial information as well as online forecasts of exchange rates of the US dollar, euro, ruble, bitcoin, and other currencies for today, tomorrow and this trading week. Video Agenda: 00:00 INTRO 00:16 Totay’s…
Analyzing Friday’s trades: EUR/USD on 1H chart EUR/USD traded with low volatility on Friday. The hourly chart shows that the previous week was quite dull with low activity. The price mostly moved sideways, and the macroeconomic background was weak. Although there were several fundamental events that could have potentially triggered a new rise in the…