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US30 neutral 1. we are currently consolidating in a tight controlled price range - this clearly illustrates to me that we are waiting a big price move soon (most likely after the high impact new releases today) 2. i believe a break below the line below wil lead to a bullish continuation upwards or a break below the line above will lead to a short term bearish break down of price to the downside. Always maintain a open mindset about the outcome of news as nothing is guareteed in the trading market at any time
BLACKBULL:US30
by TakeTheRisknProsper
OIL 20/5/2024 AnalysisDue to serious geopolitical scenario happening in the middle east usoil has a potential tendency to go long. the Israel strike over Rafa and death of iranian president has created a serious tension in the middle east zone which can be affecting the price of black gold the oil. Bullish targets: 79.60 79.80 80.10 bearish targets : 79.00 78.80 supports: 79.23 78.57 78.21 pivot 78.85 resistance 79:85 80.25 until and unless the pivot is not broken oil will continue buy. boost follow and share us for more such trade analysis.
TVC:USOILLong
by realmillionairefx
xauusd recent update In our previous analysis quoted above we have referred 2407 area as the area of retracement as there is strong support in that zone. and as we predicted the same happened the market retraced from than zone and again hit back the zone creating a DOUBLE BOTTOM and again goin up to nearby resistance zone. support and pivot 2407-2405 if this area is not breached then market will fly back to 2445 zone. bullish targets : 2415 2421 2433 2445 bearish targets : 2401 2397 2391 2382 2376 follow us share us and like us happy trading❤️
OANDA:XAUUSDLong
by realmillionairefx
XAUUSD Short Setup: Potential Sell Opportunity!We're eyeing a short opportunity on XAUUSD around the $2355-2360 range, where the price is expected to encounter resistance. This level coincides with the Fibonacci 0.50 retracement level, a key trendline test, and upcoming PMI news, suggesting a potential reversal. Heightened geopolitical tensions further support the bearish bias. Stay tuned for detailed analysis and trade insights!#XAUUSD #ForexTrading #ShortSetup #TechnicalAnalysis #GeopoliticalFactors #PMINews
FXOPEN:XAUUSDShort
by goldsniperfxreal
Fundamental and technical analysis in the world of cryptocurrenOn the 1-day timeframe chart. Hello! We have conducted an analysis of Bitcoin prices at the time of various forums and events in the cryptocurrency and blockchain space. Now let's dive deeper and examine the fundamental and technical aspects of this data. We will look at how forums influence the price of Bitcoin, what factors determine price movement after events, and what conclusions can be drawn from the technical analysis of charts. I have divided the entire list of events into groups based on their names for a clearer and more detailed study of patterns, and let's consider the differences between them: Displaying technical analysis. Bitcoin Events - Orange color. Consensus Events - Green color. Blockchain Events - Pink color. Group 1: Bitcoin Conference: Bitcoin 2012 Conference Bitcoin 2013 Conference Bitcoin 2014 Conference Differences: These conferences are focused on Bitcoin as the first and most well-known cryptocurrency. Probably, these events discussed technologies and innovations related specifically to Bitcoin. Perspectives on the development and future of Bitcoin could have been considered. Group 2: Consensus: Consensus 2015 Consensus 2016 Consensus 2017 Consensus 2018 Consensus 2019 Consensus 2021 Consensus 2023 Differences: Consensus is the largest annual event organized by CoinDesk dedicated to cryptocurrencies and blockchain. These conferences usually discuss a wide range of issues, including technical, regulatory, economic, and other aspects of cryptocurrencies and blockchain. Consensus often attracts attention from major industry players, including representatives of financial institutions, technology companies, government agencies, and other stakeholders. Group 3: Blockchain Expo: Blockchain Expo North America 2016 Blockchain Expo Europe 2017 Blockchain Expo Europe 2018 Blockchain Expo Global 2020 Blockchain Expo North America 2024 Differences: These events are oriented not only towards cryptocurrencies but also towards blockchain technology as a whole. Various applications of blockchain in different industries, such as finance, healthcare, logistics, and others, are discussed. Both technological innovations and practical examples of blockchain usage are presented. These groups have different inclinations and focuses in their themes, allowing participants to choose events based on their interests and expectations. Technical Analysis: Let's develop a trading idea, considering all forums and Bitcoin prices at the time of each event. We will also examine the further movement of the price after each forum and add some reflections on technical analysis. 1. Bitcoin 2012 Conference: - Date: September 15-16, 2012. - Bitcoin price at the time: $12. - Further price movement: After the forum, the price continued its upward trend, increasing to $105 by the next forum. - Technical analysis reflections: The upward trend is confirmed by increasing trading volumes, and highs/lows are rising. 2. Bitcoin 2013 Conference: - Date: May 17-19, 2013. - Bitcoin price at the time: $122. - Further price movement: After the forum, the price continued to rise, reaching $444 by the next forum. - Technical analysis reflections: The upward trend intensified, indicating a bullish market continuation. It's important to note that after the forum, the price decreased by -44%, suggesting possible manipulation by a large player (shaking out weak hands). 3. Bitcoin 2014 Conference: - Date: May 15-17, 2014. - Bitcoin price at the time: $440. - Further price movement: After the forum, the price initially rose to $666 but then began to fall, reaching $230 by the next forum. - Technical analysis reflections: The price increase was driven by news surrounding the forum, but technically, the asset price was approaching an upward trend. It's also crucial to note that the price of Bitcoin decreased by 61.3% leading up to the forum - this could have created an illusion of a bottom! Overall, after the forum, the asset price decreased by an additional 62.2%. 4. Consensus 2015: - Date: May 10-12, 2015. - Bitcoin price at the time: $244. - Further price movement: After the forum, the price of Bitcoin began to gradually rise, reaching $444 by the next forum. - Technical analysis reflections: A rising trend begins to form on the chart after a correction. It's important to note that the price at the time of the forum was at resistance of a descending trendline, which was later breached. 5. Consensus 2016: - Date: May 2-4, 2016. - Bitcoin price at the time: $444. - Further price movement: After the forum, the price of Bitcoin continued to rise, reaching $733 by the next forum. - Technical analysis reflections: The upward trend intensified, potentially leading to increased interest in the asset. After the forum, the asset price tested the ascending trendline and saw an impulse rise of +74%. 6. Blockchain Expo North America 2016: - Date: November 29-30, 2016. - Bitcoin price at the time: $733. - Further price movement: After the forum, the price of Bitcoin continued its rapid rise, reaching $2,424 by the next forum. - Technical analysis reflections: There is an increase in volatility and acceleration of the upward trend. Similar to the previous forum, there was an impulse rise of +52% from the support of the ascending trendline. Important! After forums 5 and 6, the price aggressively rose, but the most crucial aspect was the return of the price to the ascending trendline, thus deflating all rises by 70-90%! 7. Consensus 2017: - Date: May 22-24, 2017. - Bitcoin price at the time: $2,424. - Subsequent price movement: After the forum, the Bitcoin price continued to rise, reaching $2,525 by the next forum. - Technical analysis reflections: The trend continues to strengthen, and the market experiences a phase of active participation in the bull rally. It's also worth noting that the price leading up to the forums increased by +150% from the same ascending trendline on which forums 5 and 6 were held. 8. Blockchain Expo Europe 2017: - Date: June 1-2, 2017. - Bitcoin price at the time: $2,525. - Subsequent price movement: After the forum, the Bitcoin price began a rapid ascent, reaching $8,131 by the next forum. - Technical analysis reflections: There is a continuation of the aggressive upward trend with high volatility, attracting traders' and investors' attention. After the forum, the price renewed all previous highs and peaked at $19,111. Important! It's worth noting that the next forums 9 and 10 will take place after the global ascending trendline has already been breached... 9. Consensus 2018: - Date: May 14-16, 2018. - Bitcoin price at the time: $8,131. - Subsequent price movement: After the forum, the Bitcoin price fell to $6,069 by the next forum. - Technical analysis reflections: The market experiences volatility and correction after a prolonged period of growth. While the forum carried a positive sentiment, technically, the price was in a descending trend. A decline of -29% was observed. 10. Blockchain Expo Europe 2018: - Date: June 27-28, 2018. - Bitcoin price at the time: $6,096. - Subsequent price movement: After the forum, the Bitcoin price initially rose to the levels of the previous forum at $8,131, but then began to fall again, forming global lows at $3,181. - Technical analysis reflections: The market undergoes a period of correction after a prolonged downward trend, and the price even attempts to stabilize after breaking through the descending trendline. However, the global descending trend continues. 11. Blockchain Expo Global 2019: - Date: April 25-26, 2019. - Bitcoin price at the time: $5,125. - Subsequent price movement: After the forum, the Bitcoin price continued to rise, reaching $6,363 by the next forum. - Technical analysis reflections: There is an acceleration of the upward trend with increasing trading volumes. 12. Consensus 2019: - Date: May 13-15, 2019. - Bitcoin price at the time: $6,636. - Subsequent price movement: After the forum, the Bitcoin price initially fluctuated in the range of $7,300 - $8,777, but then began to increase, reaching $13,000, forming an important local maximum. - Technical analysis reflections: The market steadily rose, forming lows through which ascending trendlines could be drawn! It's important to note that forums 9 and 10 formed resistance levels, which the asset price surpassed due to the news background at forums 11 and 12. Thus, each forum has its own unique context and impact on the future movement of the Bitcoin price. These data can be used to develop trading strategies and make decisions about entering or exiting positions in the cryptocurrency market. Continuing the analysis: Forums 9, 10, 11, and 12 formed the meridian of the global accumulation channel. Attention should have been focused on forum 13 and technical analysis! 13. Blockchain Expo Global 2020: - Date: March 17-18, 2020. - Location: London, UK. - Note: Many events in 2020 shifted to an online format due to the COVID-19 pandemic. - Bitcoin price at the time: $5,666. - Subsequent price movement: After the event, the Bitcoin price continued to rise, reaching $40,000 by the next forum. - Reflections: In the face of market uncertainty and the transition of events to an online format, it was possible to rely on a stable trend and consider long-term investments. The price confirmed a global ascending trendline from which there was aggressive buying. 14. Consensus 2021: - Date: May 24-26, 2021. - Bitcoin price at the time: $35,000. - Subsequent price movement: After the forum, the Bitcoin price continued to rise, reaching $40,000 by the next forum. - Technical analysis reflections: The market experienced a bull rally with increased volatility and heightened investor interest. However, the forum took place when the asset price had already breached a local ascending trendline, so despite the positivity, the price continued to decline to a more significant ascending trendline by -26.71%. After its confirmation, the price formed a global maximum at $69,000, from where a global downward trend began to the levels of $15,479. 15. Blockchain Expo Europe 2022: - Date: June 1-2, 2022. - Bitcoin price at the time: $31,000. - Subsequent price movement: After the forum, the Bitcoin price initially dropped to $30,000, but then began to rise again, reaching $31,000, and continued its downward movement. - Technical analysis reflections: The market experienced a correction after a rise and was at the support level of an already formed channel ranging from $30,000 to $69,000. However, despite positive news, a support breach occurred, and the asset price fell by -49.01% from the forum date. 16. Consensus 2023: - Date: May 22-24, 2023. - Bitcoin price at the time: $26,000. - Subsequent price movement: After the forum, the Bitcoin price continued to rise overall, reaching $73,000 by the next forum in Dubai (Blockchain Life). - Technical analysis reflections: The market maintained its upward trend. 17. Blockchain Life 2024: Date: April 15-16, 2024. Bitcoin price at the time: $65,858. Subsequent price movement: After the forum, the Bitcoin price began to decline towards the $61,000 mark. Technical analysis reflections: The market maintains its upward trend, but it's worth noting that below today's price are trendline supports. Analyzing past upward trends, there is a possibility of a price decrease to these trendlines! The news background is very positive - this may precede a good decline - the reason being that the asset price is at global highs (a local distribution zone). 18.Blockchain Expo North America 2024: Date: September 18-19, 2024. Bitcoin price at the time: $???.???(assumed). Thus, analyzing all the forums conducted and the Bitcoin prices at the time of their occurrence, trends can be identified and the impact of events on cryptocurrency prices understood, which can help in making investment decisions. After analyzing all the presented events and forums, as well as conducting technical analysis of the Bitcoin price, the following conclusions can be made: Fundamental Analysis: Forums and events such as conferences and exhibitions have a significant impact on the cryptocurrency market, especially when new technologies, regulations, and investment opportunities are discussed. The transition of events to online formats due to the COVID-19 pandemic influenced market perception but did not diminish investors' interest in cryptocurrencies. Rising trends in Bitcoin price may be associated with optimistic news and announcements at major events, whereas descending trends may be caused by uncertainty or negative news. Technical Analysis: Bitcoin price charts show clear growth trends after forums and events, especially if the Bitcoin price starts to increase before the event and continues to rise afterward. Support and resistance levels on the charts often correlate with the timing of events, confirming their influence on the market. Conclusion: Fundamental analysis and technical analysis confirm the importance of events such as forums and conferences for the cryptocurrency market. Investors can use information about event schedules and price analysis to make decisions about entering or exiting positions in the market. However, it's important to remember that the cryptocurrency market is always volatile, and no analysis guarantees successful investments. It's always important to conduct your own research and diversify your portfolio.
BITSTAMP:BTCUSD
by SHARK1318
The TradingView Digest - April 8thHey everyone! Welcome back to the TradingView Weekly Digest. In today’s edition, we’re highlighting the top ideas from our community, which includes a write-up on Tesla, an informative post about Keltner channels and Bollinger bands, a hot script on trailing stop management, and all the latest headlines, earnings, and economic events. We hope you find this week's edition exciting and engaging. Let's dive in! 😀 💡 Tesla Stock Down 30% This Year. What Happened to the EV King? - by TradingView The electric-car maker is in dire need of charging after losing more than $260 billion this year and turning Elon Musk into the biggest loser among the world’s wealthiest. Tesla stepped into 2024 as the world’s largest EV seller with a valuation of more than $780 billion. None of that is true today. 💡 Keltner Channels vs Bollinger Bands - by FXOpen If you're a trader, you likely know that indicators are valuable tools for identifying trends and determining entry and exit points. Two popular indicators are Keltner Channels and Bollinger Bands. Both help measure volatility, but which one is better? In this article, we'll delve into the differences between the two, explain their components, and discuss which one is best. 🔝 Top Stories 📰 U.S. March Nonfarm Payrolls +303K; Unemployment Rate 3.8% 📰 Johnson & Johnson to Buy Shockwave Medical in $13.1 Billion Deal 📰 Gold Shines Above $2,300, Ends Another Week At Record High 📰 Solar Eclipse On April 8 Could Give Whopping $1.5 Billion Boost To Businesses 📰 New users flock to Ethereum while long-term holders are less active than ever 💵 Earnings highlights from the previous week: 💲 Levi Strauss (LEVI) Q1 Earnings and Revenues Surpass Estimates 💲 BlackBerry reports surprise profit on demand for cybersecurity services 💲 Conagra (CAG) Q3 Earnings Beat, Organic Sales Decline Y/Y 💲 Lamb Weston (LW) Q3 Earnings Lag Estimates, Guidance Lowered 💲 Greenbrier 2Q Revenue Declines But Beats Wall Street's Forecast 💡 Nvidia - Entering a Bear Phase! - by basictradingtv For more than 6 years, Nvidia stock has been trading in a long-term rising channel formation. The last retest of support occurred in 2021, followed by a +650% rally to the upside. As of now, Nvidia stock is retesting the upper resistance of the channel, and we might see a short-term correction towards the downside to retest the previous all-time high. 💡 Don't Get Duped by the RSI - by ParabolicP The Relative Strength Index (RSI) is a common technical analysis tool used by traders to gauge whether an asset is overbought (priced too high) or oversold (priced too low). It analyzes price movements over a specific period (often 14 days) and displays a score between 0 and 100. Generally, an RSI above 70 suggests an overbought condition, while an RSI below 30 suggests an oversold condition. 📆 Economic Calendar ⚡️ April 10th (United States) — Core Inflation Rate YoY ⚡️ April 10th (United States) — Inflation Rate YoY ⚡️ April 10th (United States) — FOMC Minutes ⚡️ April 12th (United States) — Michigan Consumer Sentiment Prel ⚡️ April 16th (China) — GDP Growth Rate YoY 🔥 What's New? ✅ New chart type — Volume candles 🌟 Script of the Week 📜 Trailing Management - by Zeiierman This tool provides an automated and visual approach to trailing stop management, aiding in systematic decision-making for trade entries and exits based on risk-reward metrics. 💭 Our Weekly Thought: “The trend is your friend.” We hope you found this helpful. Please share your feedback, remarks, or suggestions with us in the comments below. 💖 TradingView Team 📣 Want to be among the first to know all the news? Give us a follow !
COINBASE:BTCUSD
by TradingView
7
🔥🔥GOLD TO 2330🔥🔥❤️MY FOREX TEAM❤️ INFORMATION Gold price climbs steadily, eyeing Wednesday's $2,300 psychological figure amid high US Treasury bond yields and a soft US Dollar. Speeches from Federal Reserve officials, strong jobs data, and a dip in services business activity weighed on the American currency. Therefore, the XAU/USD spot price is at $2,295, refreshing all-time highs and gaining more than 0.60%. Recently, Fed Chair Jerome Powell stated the US central bank has time to deliberate about rate cuts, given the strength of the economy and the inflation readings. He reiterated that if the economy evolves as expected, they will cut borrowing costs “at some point this year.” 💲BUY / SELL SIGNAL UPDATES SHORTLY💲 Follow channel for regular updates Everyone success..👍👍👍 ❤️MY FOREX TEAM - Technical Analysis Technical indicators SMA | EMA | MACD | SAR | VWAP | RSI | MARKET TREND | NEWS ❤️NOTE Gold price soars, supported by weakening US Dollar in face of high Treasury yields. XAU/USD was boosted by Fed Chair Powell hinting at rate cuts within the year, contingent on sustained inflation decline. Despite a strong job market as shown by ADP data, indications of a slowdown in services activity contribute to the precious metal's gains. ❤️MONEY CAPITAL MANAGEMENT ⚡️ Only Trade With Risk Capital ⚡️ Cut Losses Short, Let Profits Run On ⚡️ Avoid Using Too Much Leverage ⚡️ Avoid Taking Too Much Heat ⚡️ Do Not Give in to Greed ⚡️ Take profit equal to 4-6% of your capital ⚡️ Stop lose equal to 2-3% of your capital
FOREXCOM:XAUUSDLong
by My_Forex_Team
The TradingView Digest - April 3rdHey there! Welcome back to the TradingView Weekly Digest. We are thrilled to announce the successful conclusion of our first-ever paper trading competition - The Leap ! With immense joy, we share that over 90,000 traders enthusiastically participated, executing a staggering 2,700,000 trades and securing an impressive $119 million in profits. Heartiest congratulations to all the winners, and our sincere gratitude to every participant for their overwhelming love and support. In this edition, we’re excited to spotlight the top posts and ideas from our community. This includes an informative post on using stop-loss orders , a write-up on trading symmetrical triangle patterns , a hot script on volumes , and all the latest headlines , earnings , and economic events . We hope you find this week's edition exciting and engaging. And don't forget to participate in our Bitcoin halving contest for a chance to win our exclusive T-shirt. Without further ado, let's dive right in! 😀 💡 How to Use Stop Loss Orders in Trading? - by TradingView In trading, reducing risks is oftentimes all that matters to achieving success. One of the essential tools to protect your investments from steep or unexpected losses is the stop loss order. Understanding how to use stop loss orders can unlock your path to profitability by allowing you to balance your risk and reward ratio. 💡 A Comprehensive Guide to Fibonacci Retracements - by XForceGlobal Fibonacci Retracements are a set of ratios defined by the mathematically important Fibonacci sequence. This allows traders to identify key levels of support and resistance for price action. The Fibonacci retracement tool, although widely used by many traders, is almost always not correctly used by new traders. 💡 Bitcoin Halving Contest: Time’s Ticking, But When’s It Kicking? - by TradingView Buckle up, crypto enthusiasts! The Bitcoin Halving is on the horizon, and the countdown has begun. But here’s the twist - every Bitcoin clock out there is telling a different time for when block 840,000 will hit the scene. It’s like they’re all watching different episodes of the same thrilling show. 🍿 🔝 Top Stories 📰 Japan Manufacturers Sentiment Deteriorated for First Time in Four Quarters 📰 AMC Shares Drop 14% to Hover Near Record Lows After Filing to Sell $250M of Stock 📰 Reddit Stock Can’t Get Off the Volatility Train After Another Double-Digit Drop 📰 Bitcoin Halving Countdown: BTC Skyrockets to $71,000 Amidst Market Anticipation 📰 SEC May Delay Ethereum ETF Until December: Bitwise 💵 Earnings highlights from the previous week: 💲 McCormick (MKC) Q1 Earnings & Sales Top Estimates, Grow Y/Y 💲 GameStop Q4 Earnings Highlights: Retail Favorite Stock Plunges After Revenue, EPS Miss 💲 Compared to Estimates, Carnival (CCL) Q1 Earnings: A Look at Key Metrics 💲 Jefferies Financial Group Fiscal Q1 Earnings, Revenue Rise; Dividend Maintained 💲 Walgreens Sees Steep Loss After Major Write-Down of Clinic Operator VillageMD 💡 How To Trade A Symmetrical Triangle Break-Out - by TVM_MENA A symmetrical triangle is a geometric formation found in technical analysis, often appearing during periods of market consolidation. It's characterized by converging trendlines, typically drawn by connecting a series of lower highs and higher lows. This pattern reflects a balance between buyers and sellers, signaling indecision in the market regarding the future price direction. 💡 Bitcoin Heading Below 20K is A Good Thing! - by WicktatorFX/ This one is a bit of a hack but follows on from my video on how to set 'Stop Losses' on TradingView for Connected Brokers. To set a trailing stop loss, you need to open your broker account, place the trade there, and it will then be reflected on the TradingView interface. 📆 Economic Calendar ⚡️ April 3rd (United States) — Fed Chair Powell Speech ⚡️ April 5th (Canada) — Unemployment Rate ⚡️ April 5th (United States) — Non Farm Payrolls ⚡️ April 5th (United States) — Unemployment Rate 🔥 What's New ✅ New launch: predict market activity with unerring accuracy ✅ Scan your watchlists in Stock, ETF, and Crypto Coins screeners 🌟 Script of the Week 📜 Periodic Activity Tracker - by LuxAlgo This tool visualizes cumulative buy and sell volume for user-defined periods, offering insights into volume dynamics with customizable options. 💭 Our Weekly Thought: “ Weak traders focus on results - Strong traders focus on process. ” We hope you found this helpful. Please share your feedback, remarks, or suggestions with us in the comments below. 💖 TradingView Team 📣 Want to be among the first to know all the news? Give us a follow!
COINBASE:BTCUSD
by TradingView
4
US OIL (WTI) MARKET ANALYSE. (READ CAPTION)Technical Analysis: Incorporate key trading indicators such as the double line resistance breakout, pullback support, and demand zone analysis to assess price movements in the US Oil market. Identify channels and trendlines to spot potential breakout or breakdown points, confirming with volume and momentum indicators like relative strength index (RSI) and moving average convergence divergence (MACD). Additionally, monitor the US Dollar Index (DXY) for its impact on oil prices, considering its inverse correlation. Stay vigilant for opportunities at support and demand zones, utilizing these levels for entry and exit points in your trading strategy. If you like this idea please support with boost comment and follow thanks for with us.
TVC:USOILLong
by Alexview009
Gold is moving above $2,200...in this case (read-caption)Gold is moving above $2,200...in this case, it will head towards $2,300 Gold prices did not witness noticeable movements during these moments of trading today, Thursday, after they ended yesterday’s trading at record levels, with investors looking forward to more US economic data to obtain evidence of the course of monetary policy. Ilya Spivak, head of global macro at Tastylive, said: “The Fed has signaled it wants to lower interest rates, and there are geopolitical risk concerns that remain in the markets around the wars going on right now, whether in Ukraine or in the Middle East, which is... Supports gold. Spivak added: “Gold prices are range-bound most of the time this month, and a break above the current resistance level at $2,225 per ounce could send prices heading towards the $2,300 level.” Like support and follow bundle of thanks for your love.
OANDA:XAUUSDLong
by Alexview009
1
The USD/JPY pair rises to its highest levels since 1990The USD/JPY pair rises to its highest levels since 1990 The Japanese yen continued its losses during trading on Wednesday, with the USD/JPY pair falling to its lowest levels since July 1990, that is, in nearly 34 years, with the continued strong upward momentum of the American currency and the failure of the recent shifts in monetary policy at the Bank of Japan to give sufficient support to the yen. Japanese. The dollar/yen pair rose to the level of 151.975 yen during early trading in the session, which is the highest level recorded by the pair since the beginning of July 1990, after the Governor of the Bank of Japan, Kazuo Ueda, stated that the Bank of Japan will continue to maintain its current accommodative policy as long as necessary. To support economic growth. But the yen was then able to regain some ground and recovered a bit after Japan's Finance Minister, Shunichi Suzuki, came out with an immediate warning, calling for decisive action by the government, a phrase he last used in late 2022, before the Bank of Japan intervened in the forex market. To buy yen and sell dollars. Last week, the Bank of Japan raised interest rates for the first time in 17 years, but despite this, the Bank of Japan's tightening is expected to occur very gradually, which has reinforced the yen's losses, especially in light of growing expectations that the Federal Reserve may have to wait. longer before he could cut rates, which gave additional support to the dollar.
by Alexview009
GBP/USD Analysis: Support Channel Breaks as Dollar Strengthens,GBP/USD Analysis: Support Channel Breaks as Dollar Strengthens, Retest of Demand Zone Imminent The GBP/USD pair has experienced a significant shift in momentum as the support channel, marked by the crucial level of 1.28063, has been breached. This breach comes amidst a notable surge in the value of the US dollar, which has exerted downward pressure on the GBP pair. Moreover, recent data indicates a pronounced strengthening of the dollar against various currencies, including the British pound. This strengthening has intensified the bearish sentiment surrounding the GBP/USD pair. In light of these developments, market sentiment suggests that the GBP/USD pair is now poised for a retest of the demand zone, situated around the level of 1.25030. This zone represents a critical area of support where buying interest could potentially resurface, leading to a temporary halt or reversal of the downward movement. Traders and investors are closely monitoring the price action around the demand zone for potential signs of bullish reversal or further downside continuation. Factors such as economic data releases, central bank statements, and geopolitical developments will likely play a crucial role in shaping the near-term trajectory of the GBP/USD pair. Overall, the breach of the support channel coupled with the prevailing strength of the US dollar indicates a bearish outlook for the GBP/USD pair, with attention now turned towards the retest of the demand zone for potential trading opportunities.
by Alexview009