The GBPJPY pair has been on an uptrend, reaching a high of approximately 202.50, the highest level since 2007. The Daily Relative Strength Index (RSI) indicates ongoing bullish momentum, but nearing overbought territory could suggest a potential correction. The Moving Average Convergence Divergence (MACD) also shows bullish momentum with rising green bars, although it may
Technical Analysis
The yen’s recent depreciation against the US dollar has raised concern among Japanese officials, leading to a potential intervention by the Bank of Japan. This weakening trend was last observed in late April when the yen traded above 160 yen per USD. The volatility in the currency market has prompted warnings against excessive fluctuations, signaling
The EUR/USD failed to break through the 1.0765 resistance level and subsequently experienced a decline. The pair is now trading below the 1.0720 support level, as well as the 100 simple moving average and the 200 simple moving average on the 4-hour chart. Currently, it is consolidating near the 1.0670 support zone. A major bearish
In the world of trading, understanding the technical analysis of gold prices is crucial for making informed decisions. Gold prices recently experienced a decent increase above the $2,335 resistance level, showcasing a bullish momentum. On the hourly chart of Gold at FXOpen, a connecting bullish trend line is forming with support near $2,345, indicating a
In recent trading sessions, the USD/JPY pair has shown strength as it cleared the key resistance level at 158.20. Looking at the 4-hour chart, we can see the formation of a major bullish trend line with support at 158.20. The pair has also managed to rise above both the 100 and 200 simple moving averages
As geopolitical tensions continue to escalate in both the Middle East and Asia, investors are turning to safe-haven assets such as gold and silver. The recent news of a potential conflict on the northern border between Lebanon and Israel has sparked renewed demand for these precious metals. The implications of a wider conflict could have
The AUD/USD pair has been experiencing a rollercoaster of movement, with a recent recovery attempt from the 0.6590 support level. After a decline from the 0.6700 resistance zone, the pair found a new low near 0.6590 before starting to correct its losses. The bulls stepped in near 0.6600 and pushed the pair higher, breaking above
The article discusses the uncertainty observed in the price behaviour of the Nasdaq 100 near the resistance level of 18,840. This uncertainty was highlighted by a decline in price following the test of the resistance level and a subsequent test of the former resistance at 18,250. The long lower shadow on the candle indicated aggressive
At the beginning of this week, gold prices took a hit as they slipped below the $2320 mark. This downward pressure was also influenced by the lack of safe-haven appeal due to quiet geopolitical events over the weekend. The back-and-forth price action last week, driven by market reactions to potential interest rate hikes and the
The gold price has fallen to its lowest level in a month, indicating a downward trend in the market. This drop comes after hitting an all-time high of 2,450 and breaking below the 50-day simple moving average (SMA). The price reached a one-month low on June 7, signaling a significant pullback from its record peak.
The Japanese yen exchange rate against the US dollar has been under scrutiny as of late, and the latest developments do not paint a promising picture. The USD/JPY pair saw a rise to nearly 158.00 following the June meeting of the Bank of Japan where the interest rate remained unchanged. The market response seemed to
When analyzing the NZDUSD pair, it is evident that the pair has faced significant resistance around the 0.6220 level. Despite attempts to break through, the pair settled at 0.6170, indicating a struggle to move past this key resistance level. The Relative Strength Index (RSI) at 56 trending downwards suggests a drop in buying pressure. Additionally,