See also
Pound's volatility turned out to be one of the highest, but still did not exceed fifty points. Nevertheless, there will be strong movements today, and perhaps an end to the current situation.
Recently published data on durable goods orders, although carrying slightly more weight than the data on existing home sales, did not have a noticeable impact on the market. However, forecasts say it will decrease by 4.0%, indicating that consumer activity has declined, which could lead to a slowdown in the US economy. It may be too early to talk about a recession, but signs indeed point to such a development. If that happens, dollar demand will fall, pulling the market out of the stagnation that began last Thursday.
EUR/USD adheres to a bullish sentiment, indicated by the stabilization of the price above 1.0850. In the case of further growth, a movement towards 1.0900 will be possible. As for the bearish scenario, the price needs to return to 1.0800 and consolidate below it.
Once again, long positions in GBP/USD decreased around 1.2700, leading to a rebound. However, consistently reaching 1.2700 means that there may be a breakdown soon.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
On Tuesday, the GBP/USD pair continued its moderate downward movement, which is clearly of a technical and corrective nature. On both Monday and Tuesday, there were no significant macroeconomic events
On Tuesday, the EUR/USD currency pair continued its mild downward movement in line with the prevailing trend. After a fairly strong upward move, the market began a correction. The nature
Monday Trade Analysis: GBP/USD 1H chart On Monday, the GBP/USD pair was clearly trading sideways. On the hourly timeframe, it consolidated below the ascending trendline, but in our view, this
Monday Trade Review: EUR/USD, 1H Chart On Monday, the EUR/USD pair traded with a downward bias, and the U.S. dollar posted a fairly strong gain. As we've mentioned before, even
In my morning forecast, I highlighted the 1.1749 level and planned to base market entry decisions around it. Let's look at the 5-minute chart and break down what happened
Forex Chart
Web-version
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.