The GBPJPY currency pair has been experiencing a lack of clear direction over the past two weeks. This is evident from the absence of a consistent trend in its price movement. In this article, we will delve into the technical indicators that have contributed to this indecisiveness in the market. One significant factor that has
Technical Analysis
The USDCHF currency pair has recently tested July’s eight-year low, indicating a bearish trend in the market. Sellers have been dominating, but their hold on the market may be temporary. Core PCE inflation data, set to be released at 13:30 GMT, could potentially disrupt their current position. Over the recent period, sellers have been able
In recent trading sessions, the USDCAD pair has experienced a significant sell-off, which has caused the currency to weaken against the Canadian dollar. This downward movement has been reinforced by the occurrence of a death cross pattern on both the short-term (20-day) and long-term (200-day) simple moving averages (SMA). The death cross is a technical
The USD/JPY pair has been struggling to break above the 145.00 resistance zone and has now started to decline. A major bearish trend line is forming with resistance at 144.00 on the 4-hour chart, indicating that the bears are in control. Looking at the technical indicators, the pair has settled below the 144.00 level, the
The Bank of England (BoE) has recently come under fire for its slow response to the significant decline in UK price growth. Official data has revealed a sharp drop in consumer price growth from 6.7% in September to 3.9% in November, catching many by surprise. This sudden decrease in price growth has triggered market reactions,
The cryptocurrency market has been closely following Ethereum’s price movements, particularly its structure of forming lower highs and lower lows. However, recent developments suggest that Ethereum may be breaking this pattern. In this article, we will analyze the latest rebound in ETHUSD and explore the strengthening positive bias indicated by momentum indicators. For a considerable
The UK 100, also known as the FTSE 100, has been showing signs of reaching the upper Bollinger band. This technical indicator is used to measure the volatility and potential reversal points in the market. As the UK 100 meets the upper Bollinger band, it suggests that the market is potentially overbought and may be
NZDUSD has been on a remarkable streak of positive performance, heading for its eighth consecutive day of gains. This bullish momentum has captured the attention of traders and investors alike, as the pair continues to strengthen. However, as with any extended period of growth, questions arise about the sustainability of this trend. The ongoing rally
The Australian Dollar (AUD) has gained traction against the US Dollar (USD), breaking above the crucial 0.6700 resistance level. This surge comes after a steady increase from the 0.6620 level. The AUD/USD pair managed to surpass several obstacles, including the 0.6650 and 0.6700 levels, putting it in a positive zone. Examining the 4-hour chart, we
Over the past month, CHFJPY has experienced a slight decline in value. However, it is crucial to assess this setback within the broader context of the currency pair’s overall performance. While there has been a minor loss, the overall picture of CHFJPY remains overwhelmingly positive. It is worth noting that a decisive break below the
The COVID-19 pandemic has brought about significant changes in the labor force in the United States, leading to what experts are calling “The Great Reshuffle.” In 2022, over 50 million workers resigned from their jobs, a trend that continued from the previous year. However, by August 2023, resignations had tapered to 30.5 million, indicating a