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Fxsignals

GBP/USD: Favorable Long Position on Upward MomentumIn accordance with our analysis from the previous session, the GBP/USD currency pair has exhibited movement consistent with our predictions, having achieved the initial level of take-profit. Moreover, the pair appears to be demonstrating rapid upward momentum, reinforcing our notion of a further sustained bullish trend. As such, our present recommendation is to consider initiating a new long position in GBP/USD in anticipation of continued price appreciation.
by DAY_PROFITS
1
EUR/USD Breaks Free from Pullbacks and Looks to Bullish Impulse EUR/USD has gained decently above the 1.0900 hurdle and broken free from two consecutive daily pullbacks, despite increased selling pressure on the dollar. Currently, the focus is on upcoming data releases. The possibility of further tightening by the ECB in May is still on the cards, with investors anticipating a 25 bps rate raise. However, some ECB policy makers have hinted at a larger rate increase in recent sessions. Later in the day, the ZEW institute for Germany and the euro bloc will release their Economic Sentiment gauge, alongside trade balance figures for the euro area. In the NA session, the spotlight will be on housing data and a speech by FOMC’s M. Bowman. As we explained yesterday, the price had a pullback to the 61.8% Fibonacci level, which coincided with a strong support area, and the dynamic trendline acted as additional support. Currently, the price is on an upward trend and we are expecting a fresh bullish impulse to emerge.
Long
by FOREXN1
5
Don't miss out on the GBP/JPY Bull runYesterday, we discussed how the GBP/JPY had recently experienced a bullish rally, but had been in a consolidation phase for the past two days. During this period, the price appeared to be forming a reversal head and shoulders pattern, which caused some concern among traders. However, the pattern was invalidated when the price broke through the local resistance, leading to the formation of a bullish flag continuation pattern. As of today, the price is pushing higher in the long direction setup that we had anticipated. We are currently on the lookout for a long setup, which we believe will present a profitable opportunity for our trading strategy. It is worth noting that the bullish flag continuation pattern suggests that the price may continue to rise, so we will be monitoring the situation closely and adjusting our strategy accordingly. Overall, we remain optimistic about the prospects for the GBP/JPY and are excited to see how the market will evolve in the coming days and weeks.
Long
by FOREXN1
4
Bullish Trend Continues for GBP/USD PairThe GBP/USD pair is currently in an uptrend and has been continuing its rally despite experiencing a pullback at the previous 61.8% Fibonacci level. We have observed that the price has rebounded in this area, and our forecast remains bullish as we anticipate a new and fresh impulse to push the price towards the upside of the chart. To elaborate further, it seems that the currency pair is gaining momentum, and traders can expect a positive trend to emerge. Based on the technical analysis, we can anticipate a steady rise in the GBP/USD price, which may be fueled by a range of economic factors, such as strong market sentiment and a robust global economy. Therefore, we advise traders to stay vigilant and keep a close eye on the market as it evolves. The current trend suggests that the GBP/USD pair has a potential for further growth, and investors should capitalize on this opportunity. In conclusion, the GBP/USD pair is showing signs of strength, and the market outlook remains positive. We recommend traders to exercise caution, but at the same time, take advantage of the prevailing bullish trend.
Long
by DAY_PROFITS
1
EUR/USD in Correction Mode: Potential Pullback Ahead.The EUR/USD currency pair has witnessed a decline in its value and subsequently bounced back from the 1.0975 region. Over the past week, the EUR/USD has been retreating from its recent highs in the proximity of 1.1100. This drop can be attributed to the correction in the upside movement of the dollar. As of now, the price movement of the EUR/USD is expected to continue to follow the dynamics of the dollar closely. It is also expected to be influenced by the diverging intentions of the Fed and ECB banks regarding potential interest rate changes. Despite the hawkish stance of the ECB, which supports further rate hikes, there seems to be a loss of momentum in economic fundamentals in the region, which contrasts this view. Our analysis suggests that the EUR/USD might experience a pullback in the 50%-61.8% Fibonacci area before setting up for a new long position. However, if the price falls below the 78.6% Fibonacci level, it could indicate a short entry opportunity.
by FOREXN1
12
GBP/JPY Faces Bearish Chart Formation with Mild Gains: AnalysisAt the start of the London trading session on Monday, GBP/JPY shows a slight increase in value, hovering around 166.50. However, the cross-currency pair is facing a challenge in maintaining its upward momentum over the past four days, as it is currently caught in a bearish chart pattern, known as the Head and Shoulders pattern. If the dynamic trendline of the pattern, referred to as the "Neckline," is broken, this could confirm a downside trend for the pair. However, if the price manages to rise above the level of the Right Shoulder, it may indicate a long setup.
by FOREXN1
5
USD/JPY Bears Eye Downward Trend as US Dollar Faces PressureThe current market for USD/JPY is dominated by the bears, who are eagerly anticipating a continuation of the downward trend. At this crucial moment, the trendline support is highly vulnerable. As Tokyo traders enter the market on Friday, the price of USD/JPY remains stagnant, resting below a significant resistance area near 132.70 on the 4-hour charts. The US Dollar is facing pressure, mainly due to the week's data that has led to the belief that the Federal Reserve will pause in its tightening policy campaign, with just one last rate hike scheduled for May. The primary focus of the market has been on the inflation data, with the Consumer Price Index (CPI) showing a year-on-year decrease from 6% in February to 5% in March. Furthermore, the Producer Price Index (PPI) for final demand, which was released on Thursday, also indicated a continued decrease in inflationary pressures, with a 0.5% drop last month. Over the twelve months leading to March, the PPI increased 2.7%, representing the smallest year-on-year rise since January 2021, following a 4.9% increase in February. In the event that the price breaks out of the dynamic trendline, we can expect to see a further pushdown in the price, moving in a downward direction.
by FOREXN1
7
EUR/USD Shows Potential for Growth...In the early Asian session today, the EUR/USD currency pair made a noteworthy move by touching the psychological resistance level of 1.1000. This marks the first time in over two months that the major currency pair has reached this level. While the pair is facing obstacles in extending its rally beyond this point, the upside momentum is still holding strong. This is partly due to the fact that the United States inflation has softened as predicted by market participants. As of now, it remains to be seen whether the price will continue to rise throughout the day. Nevertheless, the current trend suggests that there is potential for further growth.
Long
by FOREXN1
11
GBP/USD Showing Bullish Continuation Pattern 50% Fibo 1.2400 SUPDuring early Easter Monday morning in London, the GBP/USD currency pair is experiencing a drop for the fourth consecutive day, as it takes offers to refresh the intraday low near 1.2400. This is a result of the US Dollar rebounding due to risk aversion and hawkish bets on the US Federal Reserve (Fed), following last week's pullback from a 10-month high. Meanwhile, the Bank of England's (BoE) next move is uncertain, causing doubts about the pair's future direction. Based on our analysis, the GBP has experienced a pullback towards the 1.2400 area, which coincides with the 50% Fibonacci level. We have identified a bullish flag pattern of continuation, indicating that there is a high probability of a new bullish impulse for the Cable.
by FOREXN1
10