In the recent analysis of the Nikkei 225 chart, it was reported that the index was experiencing a significant upward trend, as indicated by the blue channel. The price had surged to a yearly high above 42,500 points on 10th July, following a notable increase of more than 6%. However, a subsequent decline occurred after
Technical Analysis
The GBP/USD pair is currently showing signs of strength as it trades above the 1.2900 resistance level. A key bullish trend line is forming with support near 1.2910 on the hourly chart. The pair has successfully climbed above the 50-hour simple moving average and the 1.2900 mark. Despite a minor decline, the bulls have managed
The AUDUSD pair has recently broken decisively above a sideways pattern that had kept it range-bound for more than two months. This breakout has propelled the price to its highest level since January 2024, indicating a significant shift in market sentiment. Despite the bullish momentum, oscillators are flagging overbought conditions, suggesting that the recent rally
Silver prices have been on the rise, driven by a supply and demand gap that has persisted for the fifth year in a row. With demand continuing to outstrip supply, the market deficit is expected to almost double by the end of 2024. Historically, the demand for silver was evenly split between industrial use and
The recent monetary policy statement released by the Reserve Bank of New Zealand (RBNZ) has caused a significant shift in the performance of the Kiwi against its major counterparts, particularly the Australian Dollar. The RBNZ, for the eighth consecutive meeting, decided to keep its official cash rate at 5.50%. However, the surprising aspect was the
The recent movement in the price of gold, as depicted by the XAU/USD chart, has been quite volatile. While there was a significant rise above the $2390 level on Friday, indicating a bullish trend, the price subsequently fell to $2360 per ounce on Monday. This sudden decline suggests that the bulls were unable to maintain
The AUD/USD pair has been on an upward trajectory, reaching a six-month high of 0.6752. This surge in the currency’s strength is attributed to market expectations that the Reserve Bank of Australia (RBA) may diverge from the global trend of reducing interest rates. The anticipation of a potential rate hike in response to rising inflation
The recent uptrend in the USD/JPY pair led to a new multi-year high at 161.95, but a correction lower has been observed. The pair traded below a key bullish trend line with support at 161.50 on the 4-hour chart, indicating a potential shift in momentum. The downward correction found immediate support near the 160.65 level
After reaching a high near the 0.6735 zone, AUD/USD has started to correct gains against the US Dollar. The pair is currently facing a downside correction, showing signs of weakening momentum. This correction is evident on the hourly chart of AUD/USD at FXOpen, where a key bullish trend line is forming with support at 0.6700.
The AUD/USD pair has recently reached 0.6676, showing signs of a sideways pattern. This lack of clear direction indicates a mixed sentiment in the market. The positive movement of the Australian dollar can be attributed to the weakening stance of the US dollar, primarily influenced by the recent comments made by Federal Reserve Chair Jerome
GBPCAD has recently bounced back above the 50-day simple moving average (SMA) following a 2% correction in June. This correction led the price below the SMA towards the upper ascending trendline that has been established since the autumn of 2023. While momentum indicators are showing positive signs, there are concerns that the current upswing may
The UK 100 stock index (cash) has been struggling for the past six trading days, with a significant downturn towards the critical support level of 8,110. Despite attempts to break above the key resistance area of 8,300, the index has failed to establish a new higher high, leading to concerns about a potential negative reversal
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