Technical Analysis

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. This modest breakout was triggered b...

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. The resistance stemme...

10 May 2024
USD/JPY Rebounds to 155.70 on Strong Japanese Importer Demand Despite Weakening Japan Economic Indicators

USD/JPY Initial Dip to 155.20 in Early Asia: This indicates that initially, in the Asian trading session, the exchange rate for the US dollar (USD) ag...

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. GBP/USD close...

08 May 2024
GBP/USD Technical Analysis: Support and Resistance Levels in Focus Ahead of BoE Meeting

The GBP/USD currency pair experienced a 0.30% decline, reaching 1.2520 and slipping below recent lows. Traders are closely monitoring key support leve...

07 May 2024
USD/JPY Rebounds Amidst Intervention Concerns, Eyes on U.S. Data for Direction

The USD/JPY pair experienced a significant 0.6% increase on Monday, albeit with potential limitations on further upside movement expected before the r...

06 May 2024
GBP/USD Technical Analysis: Struggles with 200-day SMA Amidst Momentum Concerns

GBP/USD saw an upward movement recently but struggled to maintain momentum, particularly evident in its failure to close above the 200-day SMA. Trader...

03 May 2024
EUR/USD Recovers from Intraday Lows as US Dollar and Yields Weaken

The EUR/USD currency pair opened trading near the 1.0700 level, with the most recent transaction occurring at 1.0725. Initially, the pair experienced...

02 May 2024
The euro to surges to 1.0694 post Fed Interest Rate Decision

The recent market movements in the EUR/USD pair reflect a complex interplay of economic indicators and central bank communications. Despite mixed sign...

01 May 2024
GBP/USD Faces Downward Pressure Amid Hawkish Fed Stance and Strengthening USD

The recent trading activity in GBP/USD indicates a downward trend, evidenced by a 0.5% decline and a test of the critical support level at 1.25. Notab...