Author: forex24pro

Currency pair US Dollar Canadian Dollar USD/CAD continues to move within the framework of the development of growth and a bullish channel. At the time of publication of the forecast, the US Dollar to Canadian Dollar exchange rate is 1.3883. Moving averages indicate the presence of a short-term upward trend for the pair. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and potential continuation of the price pair’s growth in the near future. At the moment, it is worth considering an attempt to develop the fall in the Canadian Dollar price and…

XAU/USD quotes continue to move within the development of growth and a bullish channel. At the time of publication of the forecast, the price of Gold for today is 2424 Dollars per Troy Ounce. Moving averages indicate the presence of a short-term bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from asset buyers and potential continuation of growth from current levels. At the moment, we should expect an attempt to develop a bearish correction and a test of the support level near the 2405 area. From where we should expect an upward rebound…

The quotes of XAG/USD continue to move within the framework of the development of the fall and the descending channel. At the time of publication of the forecast, the Silver price is 27.72. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines downwards, indicating pressure from sellers and a potential continuation of the fall in price from current levels. At the moment, we should expect an attempt to develop growth in the metal price and a test of the resistance level near the 28.30 area. From where we should expect a rebound downwards…

The quotes of the currency pair NZD/USD continue to move within the development of a fall and a descending channel. The moving averages indicate the presence of a short-term bearish trend for the pair. Prices broke through the area between the signal lines upwards, which indicates pressure from sellers of the currency pair and a potential continuation of the decline in the value of the instrument from the current levels. At the time of publication of the Forex forecast, the New Zealand Dollar to US Dollar exchange rate is 0.5922. At the moment, we should expect an attempt to develop…

The USD/CHF currency pair continues to move within the development of a fall and a descending channel. At the time of publication of the Forex forecast, the US Dollar to Swiss Franc exchange rate is 0.8503. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers and a potential continuation of the asset’s fall from the current levels. At the moment, we should expect an attempt to develop an increase in the US Dollar against the Swiss Franc and a test…

BTC/USD quotes are trading at 52615 and continue to move within the development of the fall and the descending channel. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices have broken through the area between the signal lines downwards, which indicates pressure from buyers of “Digital Gold” and a potential continuation of the growth in the value of the asset from the current levels. As part of the cryptocurrency rate forecast for tomorrow, August 6, 2024, we should expect an attempt to develop a bullish correction in the value of the digital asset and a test…

ETH/USD are trading at 2309 and continue to move within the framework of the development of the fall and the bearish channel. Moving averages indicate a short-term bearish trend for Ethereum. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers and a potential continuation of the asset’s value decline from current levels. At the moment, we should expect an attempt to develop a bullish correction in the coin’s value and a test of the resistance level near the 2495 area. From where we should again expect a downward price rebound and a continuation…

The Euro/Dollar currency pair EUR/USD ends the trading week with a strong gain near the 1.0890 area. The dollar fell amid weak US unemployment data. In July, the US economy added 114,000 jobs, which is significantly lower than the expected 175,000 jobs. The unemployment rate unexpectedly rose to a 2021 high, reaching 4.3%, and wage growth slowed more than expected. This led to the fact that the markets priced in a 100 basis point cut in the Fed rate this year, including a 50 basis point cut and two 25 basis point cuts at three meetings of the regulator before…

BRENT oil quotes are ending the trading week near the $77.54 per barrel area. There is still potential for the completion of the Triangle pattern. The moving averages indicate a bullish trend. Prices have broken through the area between the signal lines downwards, which indicates pressure from raw material sellers and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a decline and test the support area near the 74.65 level. Then, we should consider an upward rebound and continued growth of oil to the area above the level…

The currency pair Pound/Dollar GBP/USD ends the trading week as part of the development of a correction near the level of 1.2820. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and potential continuation of the growth of the British Pound against the US Dollar from the current levels. At this point, we should expect an attempt to develop a decline and test the support area near the level of 1.2765. Next, an upward rebound and continued rise in Pound Dollar quotes to the area above the…