Forex Trading Blog and Market Insights

Intraday Analysis 09.03.2023

Jing Ren Mar 9, 2023 115 0

EURUSD tests critical floor The euro dips further over weaker-than-expected eurozone GDP in Q4. On the daily chart, the pair came under pressure on the 30-day SMA (1.0700). A subsequent liquidation below 1.0630 then 1.0550 has…
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Technical Analysis

Surfing the Waves with Gregor Horvat 08.03.2023

Gregor Horvat Mar 8, 2023 102 0

In today’s advanced ElliottWave analysis, Gregor dives into the five most interesting opportunities for the week ahead! Watch how he analyses #equities, FXMajors, and #Commodities and discover how he applies EW principles to come up with…
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Fundamental Analysis

Upcoming Interest Rate Decisions: BOC and BOJ

Daniel John Grady Mar 8, 2023 111 0

The two remaining major central bank meetings for this week are expected to conclude with no change in monetary policy. But there are particulars from each that could make each event noteworthy. The global cycle of rate hikes will…
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Technical Analysis

Gold Pressured by Fed Testimony!

David Kindley Mar 8, 2023 98 0

Gold reached its lowest level this week as Jerome Powell reiterated his willingness to raise rates at a faster pace. Given that the latest economic data came in stronger than expected, there is room for more aggression. With gold…
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Technical Analysis

USDJPY Intervening Wave Ⓧ Lifts Prices Above 1.40!

Roman Onegin Mar 8, 2023 99 0

The USDJPY pair continues to form a bearish trend which takes the form of a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Wave Ⓧ is a double zigzag consisting of intermediate sub-waves (W)-(X)-(Y). If this scenario is confirmed, a fall in wave Ⓩ…
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Technical Analysis

Intraday Analysis – USD gains momentum

Jing Ren Mar 8, 2023 137 0

USDCHF bounces back The US dollar popped after Fed Chair Jerome Powell hinted at a return to larger rate increases. On the daily chart, after pulling back from its three-month high at 0.9440, the greenback found…
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Fundamental Analysis

Does Windsor Protocol Mean Brexit is Over?

Daniel John Grady Mar 7, 2023 114 0

There was quite a bit of fanfare around the signing of what is now called the "Windsor Protocol". The agreement between the EU and the UK was supposed to put an end to the Northern Ireland Protocol that had dogged the Brexit procedure for…
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Technical Analysis

EURUSD Bearish Impulse Completes Primary Wave Ⓧ

Roman Onegin Mar 7, 2023 121 0

The EURUSD currency pair seems to form a large corrective wave within the global impulse trend. Cycle correction IV, most likely, takes the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ. The first actionary leg Ⓦ is completed in the form…
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Technical Analysis

Intraday Analysis – USD falls behind

Jing Ren Mar 7, 2023 81 0

EURUSD breaks resistance The US dollar retreats as the market awaits Fed Chair Jerome Powell’s testimony before Congress. A break above the first resistance of 1.0640 eased some of the downward pressure. Then the bulls managed…
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Technical Analysis

RBA Expected to Keep Hiking

Daniel John Grady Mar 6, 2023 500 0

The RBA is set to meet tonight (or tomorrow, depending on where you're located in the world), and raise rates by another 25bps to 3.60%. That is according to the latest surveys of economists which show near-universal agreement with the…
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