Technical Analysis

22 May 2024

GBP/USD Stands Firm as Traders Anticipate UK CPI; Technical Patterns Signal Potential Shift Ahead of BoE Rate Decision

GBP/USD is showing signs of stability as it hovers near recent highs, with traders eyeing the upcoming UK Consumer Price Index (CPI) data set to be released on Wednesday.

21 May 2024

EUR/USD Stabilizes Amid Fluctuating Yields and Fed Rhetoric; Consolidation Phase Holds as Markets Eye Central Bank Moves

EUR/USD experienced some volatility in New York trading, opening near 1.0875 after touching an overnight high of 1.0884

20 May 2024

GBP/USD Faces Technical Resistance Near 1.27 Ahead of Key UK Inflation Data, Potential BoE Policy Shift in Focus

GBP/USD began Monday trading in a relatively flat position, remaining capped near Thursday's high of 1.27.

17 May 2024

"GBP/USD Pauses Near 1.2700 After Soft CPI Data, Eyes on May 22 UK Inflation Report for BoE Clues

Sterling bulls hit a pause near the 1.2700 mark after reaching a five-week high of 1.2701 early Thursday.

16 May 2024

EUR/USD Hits 1-1/2 Month High as U.S. Inflation Data Boosts Rate Cut Expectations

The EUR/USD pair surged to a 1-1/2-month high on Wednesday

15 May 2024

USD/JPY Faces Key Resistance at 157 Ahead of Crucial U.S. CPI and Retail Sales Data

The USD/JPY pair is in a critical phase, with its recent recovery from this month’s low of 151.90 being closely watched by market participants.

14 May 2024

USD/JPY Surges Past 156.05 on Inflation Concerns; Eyes 158.28 as Key Technical Pivot Amid US Data and BoJ Rate Hike Expectations

The USD/JPY pair has gained 0.28%, surpassing 156.05, marking a significant 50% retracement of its recent plunge.

13 May 2024

EUR/USD Faces Technical Crossroads at 1.0790 Amidst Central Bank Signals and US Data Anticipation

Last Friday, EUR/USD encountered notable resistance at 1.0790, influenced by multiple factors signaling potential market shifts.

10 May 2024

USD/JPY Rebounds to 155.70 on Strong Japanese Importer Demand Despite Weakening Japan Economic Indicators

When yields on US Treasury bonds decrease, it can lead to a decreased demand for the US dollar, thereby causing its value t decline against other currencies like the Japanese yen.

09 May 2024

GBP Softens Ahead of BoE Meeting Amid Uncertainty Over June Rate Cut Odds

The pound softened ahead of Thursday's Bank of England (BoE) meeting, with the possibility of a rate cut in June hovering near 50% odds.