Forex Trading Blog and Market Insights

Intraday Market Analysis 18.01.2023

Jing Ren Jan 18, 2023 86 0

USDCAD builds base The Canadian dollar steadied after inflation eased more than expected in December. From the daily chart’s perspective, the pair is still in a prolonged consolidation between 1.3230 and 1.3800. A bounce off the daily…
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Fundamental Analysis

BOJ Interest Rate Decision: Another Surprise?

Daniel John Grady Jan 17, 2023 162 0

Yen pairs have been extraordinarily active these last couple of days. Implied volatility in the USDJPY rose to a six-month high. There is a lot of apprehension about what might happen at the BOJ's interest rate decision overnight. Which is…
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Technical Analysis

Dow Jumps to Test Previous Resistance!

David Kindley Jan 17, 2023 94 0

The Dow Jones nears a previous resistance target as the Fed continues to drive the market. In addition, the Dollar has dropped over 11% from its peak in the last three months. With the Fed ending its aggressive rate hikes, how far…
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Technical Analysis

USOIL Triple Zigzag Heads to $100!

Roman Onegin Jan 17, 2023 91 0

USOIL suggests the formation of a triple zigzag pattern Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The primary waves Ⓦ-Ⓧ-Ⓨ seem to be fully completed. In the last section of the chart, we see the formation of an ascending primary intervening wave Ⓧ. This takes the…
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Technical Analysis

Intraday Market Analysis 17.01.2023

Jing Ren Jan 17, 2023 90 0

EURUSD keeps high ground The US dollar struggles on speculation that the Fed is nearing the end of its tightening. The pair is holding on to its gains after breaking above May’s high of 1.0780. A bearish RSI divergence suggests a…
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Technical Analysis

UK Employment and Inflation Data for December: Some Relief for the BOE?

Daniel John Grady Jan 16, 2023 80 0

Last Friday, the UK reported a surprise growth in GDP. That was even a surprise for the normally overly optimistic government analysts, who were expecting the UK to remain in recession for the coming quarters. Of course it was just…
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Technical Analysis

Oil Boosted as China Reopens!

David Kindley Jan 16, 2023 89 0

Oil prices had their biggest weekly gain since last October. This came amid cooling inflation in the US and an improved outlook for growing demand from China. Following China’s reopening, will we now see crude hit $100 before Q1…
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Technical Analysis

XAUUSD Intermediate Triple Zigzag To End Near $2K!

Roman Onegin Jan 16, 2023 206 0

XAUUSD continues developing a large correction pattern that forms a cycle triple zigzag. There is a possibility that the cycle wave z also takes the form of a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. It is possible that the primary…
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Technical Analysis

Intraday Market Analysis 16.01.2023

Jing Ren Jan 16, 2023 120 0

USDCHF hits resistance The US dollar softened after Fed policymakers cheered the news of easing inflation. On the daily chart, the pair has remained under pressure after a tentative break below last April’s low of 0.9200. The…
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Technical Analysis

The Week Ahead – Turning point?

Jing Ren Jan 13, 2023 363 0

USDJPY falters over Japan’s rising inflation The Japanese yen extended gains as accelerating inflation may pressure the BoJ to act soon. One of the major themes of 2023 could be Japan finally normalising its monetary policy. Consumer…
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