Bitcoin BTC/USD ends the trading week at the level of 54379 and continues to move as part of the development of the fall and the completion of the formation of the Double Top reversal pattern. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continued growth in the asset’s quotes. At the moment, we can expect an attempt to develop a bullish correction in the price of the coin and a test of the resistance area near the level of 56305. From where…
Author: forex24pro
forex24pro
I trade in the foreign exchange market, and also invest in cryptocurrencies. I am 35 years old. Trade experience is 12 years. In trade, I use several unique trading systems, as well as simple tools for technical analysis. I plan to write my own book on trading.
Ethereum ETH/USD ends the trading week at 2871 and continues to move within the fall and left the bullish channel. Moving averages indicate a bullish trend for ETH/USD. Prices have broken through the area between the signal lines downwards, which indicates pressure from cryptocurrency sellers and a potential continuation of the fall from current levels. At the moment, we can expect an attempt to develop a price rise and a test of the resistance level near the 3195 area. From where we can again expect a downward rebound and a continuation of the fall in the rate and value of…
Quotes of Silver XAG/USD end the trading week near the 30.51 area. Quotes continue to move within the development of growth and a bullish channel. Moving averages indicate a bullish trend for an asset. Prices have broken through the area between the signal lines upward, which indicates pressure from metal buyers and potential continued growth from current levels. At the moment, we should expect an attempt to develop a bearish correction in the value of the asset and a test of the support level near the area of 28.05. Next, the price of Silver will continue to rise with a…
Litecoin LTC/USD ends the trading week at 58.54 and continues to move in a strong fall and a downward channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines downwards, this indicates pressure from sellers of the digital asset and a potential continuation of the fall in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a bullish price correction and a test of the resistance area near the level of 66.05. Where can we again expect a downward rebound and an attempt to…
The American currency showed a decline on Wednesday, July 4, 2024, influenced by disappointing economic data from the United States. A weak services report and ADP jobs report, signaling a slowdown in economic growth, weighed on the dollar versus the euro. Initial jobless claims data, which showed rising unemployment, also contributed to the dollar’s decline. Currency strategists at Rabobank said the data reinforces expectations that the labor market is weakening, which could force the Fed to cut rates this year. Participants are already pricing in two interest rate cuts by the Federal Reserve in 2024. The first reduction of 25…
The Pound/Dollar GBP/USD currency pair continues to move as part of the development of the rise and has consolidated above the upper boundary of the downward channel. At the time of publication of the forecast, the Pound to US Dollar exchange rate on Forex is 1.2749. Moving averages indicate a short-term bullish trend. Prices have broken through the area between the signal lines upward, which indicates pressure from buyers of the currency pair and potential continued growth of the instrument. At the moment, we should expect an attempt to develop the growth rate of the British Pound against the American…
The currency pair Australian Dollar to US Dollar (AUDUSD) continues to move as part of the development of the rise and the beginning of the development of the “Triangle” model. Moving averages indicate a short-term bullish trend. Prices have broken through the area between the signal lines upward, which indicates pressure from buyers of the currency pair and a potential continuation of the growth in the value of the instrument from current levels. At the time of publication of the forecast, the Australian Dollar to US Dollar exchange rate is 0.6716. At the moment, we should expect an attempt to…
The quotes of the USD/JPY currency pair continue to move as part of the development of a minor correction and a bullish channel. At the time of publication of the forecast, the US Dollar to Japanese Yen exchange rate is 161.33. Moving averages indicate a short-term bullish trend for the pair. Prices have broken through the area between the signal lines upward, which indicates pressure from buyers of the US Dollar and a potential continuation of price growth from current levels. As part of the forecast for the Japanese Yen rate on July 5, 2024, we should expect an attempt…
Oil prices remain near a two-month high. This was due to a significant reduction in US oil reserves. The data was presented last week, along with an optimistic outlook for US fuel demand. The US Energy Information Administration (EIA) reported a decrease in crude oil inventories of 12.2 million barrels, which significantly exceeded expectations for a decrease of 680 thousand barrels. Additionally, weaker U.S. economic data has fueled expectations that the Federal Reserve will cut interest rates in September, bolstering confidence in economic growth and energy consumption. Brent Forecast for July 5, 2024 Brent oil quotes continue to move as…
Currency pair US Dollar Canadian Dollar USD/CAD continues to move as part of the development of the correction and the formation of the “Triangle” pattern. At the time of publication of the forecast, the US Dollar to Canadian Dollar exchange rate is 1.3623. Moving averages indicate a short-term bullish 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 fall of the price pair in the near future. At the moment, it is worth considering an attempt to develop a price decline and a…