On Friday morning, the EURJPY rose above 149 yen per euro on news from Japan. There, unemployment rose to 2.8% (expected 2.5%, last month 2.6%, a year ago 2.6%), it was higher only in the summer of 2021 (2.9%).
Market participants also followed the meeting of the Bank of Japan, which is now managed by Kazuo Ueda. As expected, the Bank of Japan said it would...
Crude oil price is consolidating losses and struggling to recover above $75.20.
Important Takeaways for Oil
· Crude oil prices declined heavily below the $79.00 and $76.50 support levels.
· There is a major bearish trend line forming with resistance near $75.20 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly chart of Crude...
Gold price is struggling to gain momentum above the HKEX:2 ,003 resistance.
Important Takeaways for Gold
· Gold price seems to be trading in a range below the HKEX:2 ,010 resistance against the US Dollar.
· A key bullish trend line is forming with support near HKEX:1 ,982 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly...
Yesterday's report showed that inflation in Australia in the first quarter of 2023 fell from a 33-year high. The consumer price index rose only by 1.4% in annual terms, although analysts had expected +1.9%.
Now market participants are focusing on the meeting of the Reserve Bank of Australia on May 2; it is expected that it will resume raising rates and thereby...
USD/CHF is rising and might aim for more gains above the 0.8930 resistance.
Important Takeaways for USD/CHF
· USD/CHF started a fresh increase above the 0.8900 resistance zone.
· There was a break above a major bearish trend line with resistance near 0.8895 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen,...
EUR/USD started a downside correction from the 1.1070 resistance.
Important Takeaways for EUR/USD
· The Euro started a fresh decline from the 1.1070 resistance against the US Dollar.
· There is a key bullish trend line forming with support near 1.0970 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at...
Have you ever noticed that market movements often seem to occur in repeatable patterns? Well, that’s where Fibonacci extensions come into play. Join us in this article as we dive into the world of Fibonacci extensions and discover how they can be a strong addition to your trading arsenal.
A Primer on Fibonacci Ratios
Fibonacci ratios are derived from the...
EUR/GBP is now consolidating losses above the 0.8825 support.
Important Takeaways for EUR/GBP
· EUR/GBP started a downside correction from the 0.8860 resistance zone.
· There is a major bullish trend line forming with support near 0.8825 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the pair started a...
GBP/USD is eyeing a key upside break above the 1.2470 resistance zone.
Important Takeaways for GBP/USD
· The British Pound is slowly moving higher from the 1.2365 support against the US Dollar.
· There is a key bearish trend line forming with resistance near 1.2440 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of...
NZD/USD is also moving lower and might decline below the 0.6150 support.
Important Takeaways for NZD/USD
· NZD/USD failed to clear the 0.6220 resistance zone and reacted to the downside.
· There is a major bearish trend line forming with resistance near 0.6180 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of NZD/USD...
AUD/USD started a fresh decline from the 0.6770 resistance zone.
Important Takeaways for AUD/USD
· The Aussie Dollar started a fresh decline below the 0.6740 support against the US Dollar.
· There is a key bullish trend line forming with support at 0.6715 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the hourly chart of AUD/USD at...
USD/JPY is rising and might rally further above the 134.30 resistance.
Important Takeaways for USD/JPY
· USD/JPY is showing a lot of bullish signs above the 133.85 support zone.
· There is a major bearish trend line forming with resistance near 134.30 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at FXOpen, the...
EUR/USD started a downside correction from the 1.1075 resistance.
Important Takeaways for EUR/USD
· The Euro struggled to stay above 1.1000 and corrected lower.
· There is a key bearish trend line forming with resistance near 1.0990 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair...
A bearish engulfing pattern (1) has formed on the gold price chart. Two facts make it important:
→ the pattern has formed at the line (2) of the resistance of the trend channel, originating at the end of 2019;
→ the pattern was formed against the background of the discussed news about the US economy, which affected the value of the US dollar.
On Thursday, the...
USD/CAD is recovering and might gain pace if it clears the 1.3370 resistance.
Important Takeaways for USD/CAD
· USD/CAD declined below the 1.3450 and 1.3400 support levels.
· A major bearish trend line is forming with resistance near 1.3370 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at FXOpen, the pair started a...
GBP/USD faced resistance near 1.2540 and started a downside correction.
· The British Pound started a downside correction below the 1.2500 zone.
· There was a break below a key bullish trend line with support at 1.2455 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen, the pair was able to climb above...
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WTI is consolidating and might aim for a fresh increase above $83.25.
Important Takeaways for Oil
Crude oil price also gained pace and was able to climb above the $82.00 resistance.
There is a key contracting triangle forming with support near $82.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly chart of XTI/USD...
