UtoForex

UtoForex

After a prolonged period of consolidation above the 1.43 support level, this currency pair now appears poised for a corrective move. In this scenario, a bearish outlook and selling opportunity would be confirmed by a break of the 1.43 support, with entry upon a pullback to this level.

UtoForex

In the previous analysis, we highlighted an important supply zone around 158, where this currency pair faced resistance, leading to a decline and strengthening of the Japanese yen. A key factor for further decline has been the break of the descending trendline. However, the most crucial confirmation would be the breakdown of the key 150 support level, which would...

UtoForex

Weak business activity data from China has put additional pressure on the Australian dollar. Last week's rise above 0.6300 was temporary, driven more by U.S. dollar weakness than by positive domestic factors. In our previous analysis, we noted a short-term rally after breaking the trendline, but this move has proven to be temporary, as weakness in the...

UtoForex

On the daily timeframe, a bullish confirmation requires breaking the 1.06 resistance and holding above it. However, caution is still warranted for further gains, as this move could be a temporary rally within a corrective phase.

UtoForex

Gold experienced an uptrend last week, aligning with the bullish scenario mentioned in our previous post. This strong rally and the formation of a robust weekly candlestick suggest the potential for breaking the previous high and reaching the initial target of $2,850. On the daily timeframe, a price correction near the previous high is possible. If this...

UtoForex

On the 4-hour time frame, we are still waiting for gold to stabilize above $2,700. However, the pullback on Friday has increased the likelihood that gold may fail to break the $2,700 resistance again. We should wait for the market's reaction after Mr. Trump's inauguration event. On the 4-hour chart, we are seeing a reaction to the identified supply zone. It...

UtoForex

Contrary to the previous analysis, gold posted a significant rally, reaching around $2,700. Two scenarios are under consideration for its next move. The first involves a continuation of the rally, which requires breaking the $2,700 resistance and consolidating above it, a level gold has failed to surpass three times. The second scenario suggests completing a...

UtoForex

As noted in the previous analysis, the pair reversed from the identified supply zone. On the daily time frame, aside from the marked support levels, no significant factors suggest a reversal. A key element for a potential turnaround would be the break of the descending trendline, which has yet to occur, requiring patience for now. Additionally, the risk of...

UtoForex

As anticipated, oil continued its upward movement and has now broken a significant historical trendline. This breakout could pave the way for oil to reach the $80 resistance level. There is a likelihood of the price touching the marked supply zone, which could attract more buyers. This zone presents a potential opportunity for entering a buy position.

UtoForex

In the previous analysis, the rise in oil prices was examined. As observed, after breaking the multi-week consolidation zone and retesting it, oil prices climbed. We anticipate a similar scenario could unfold again, with a break of the historical descending trendline followed by a retest. For a better entry into a buy position, it is advisable to wait for this...

UtoForex

In the previous analysis, we discussed the continued decline of the EURUSD pair. On the weekly time frame, the 1.03 support level is crucial, and breaking it could pave the way toward parity. On the daily time frame, as long as the descending trendline remains intact, the outlook favors further declines. The identified supply zone offers a potential...

UtoForex

The decline of the Australian dollar against the U.S. dollar was addressed in the previous analysis. However, the situation for this pair remains critical, and further declines are not unexpected. As shown on the chart, the next key support is at 0.6169. Yet, it seems likely that the pair may fall further, potentially rebounding from around 0.6, a historical...

UtoForex

The EURUSD pair declined as predicted in the previous analysis. Current fundamental conditions and the dollar's strength hinder the consideration of a bullish scenario for this pair. Additionally, no strong demand zones are currently visible on the chart. As a result, any upward moves in this pair are viewed as opportunities for renewed selling. Breaking the...

UtoForex

As anticipated in the previous analysis, gold experienced a decline. However, it appears another corrective wave, effectively wave C, may still be ahead. Before the next drop, a slight upward movement in gold prices is not unlikely, allowing sellers to re-enter the market. On the 4-hour time frame, supply zones have been identified. Gold may rise to around...

UtoForex

As noted in the previous analysis, the pair saw an upward movement and reached the 158 supply zone. Given the current fundamental conditions, we don't view a bearish scenario for this pair as likely unless the Bank of Japan intervenes in the currency market. Otherwise, if the pair experiences a correction, a buy opportunity may arise again. The valid demand zone...

UtoForex

Following the breakout of the 1.39 historical resistance and a pullback near this level, as noted in the previous analysis, the pair has continued to rise. On this time frame, the price is approaching the key 1.43 resistance, last touched on March 31, 2020. The reaction to this level will largely depend on dollar movements and the outcomes of the U.S. Federal...

UtoForex

With the breakout of the consolidation zone marked on the chart and its subsequent retest, an increase in oil prices is anticipated. On the 4-hour time frame, reaching the supply zone could trigger a price correction, creating conditions for a re-entry. In this scenario, retesting the $70 level may position oil for further upward movement.

UtoForex

In the previous analysis, we examined the supply zone around $2,730 and gold's pullback from this level. Given the strong bearish daily candle and the initial break of the trendline, a further decline in gold seems plausible. However, breaking the marked support zone on the chart will be the turning point for this scenario, providing stronger confirmation of a...