Author: forex24pro

Litecoin LTC/USD ends the trading week at 65.64 and continues to move within the correction and bullish 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 72.05. Where can we again expect a downward rebound and an attempt to continue the…

Quotes of Silver XAG/USD end the trading week near the 21.52 area. Quotes continue to move within the framework of a strong downward correction and a bullish channel. Moving averages indicate a bullish trend for an asset. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers of the metal and a potential continuation of the fall from current levels. At the moment, we should expect an attempt to develop a minor bearish correction in the value of the asset and a test of the support level near the 20.65 area. Next, the price…

In foreign exchange (forex) trading, those who can decipher and capitalise on hidden connections often find success. Behind the fluctuations of currency pairs lies a complex web of relationships that can offer valuable insights into market trends and potential profit opportunities. This is where the concept of forex correlation steps in – a strategy that involves analysing the interdependence between different currency pairs to make more informed trading decisions. Just as in life, where relationships between individuals can shape actions and outcomes, the forex market also exhibits a series of relationships that can significantly impact price movements. These relationships, known…

The Euro/Dollar currency pair EUR/USD continues to move as part of the development of an upward correction and a bearish channel. Moving averages indicate the presence of a short-term downward trend in the pair. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the European currency and a potential continuation of the fall in quotes of the asset pair from current levels. At the time of publication of the forecast, the Euro to US Dollar exchange rate is 1.0497. As part of the Forex forecast for October 6, 2023, we should expect an…

The currency pair British Pound to US Dollar (GBP/USD) continues to move as part of the development of a bullish correction and a bearish channel. At the time of publication of the forecast, the Pound to US Dollar exchange rate on Forex is 1.2125. Moving averages indicate a short-term bearish trend. Prices have broken through the area between the signal lines, which indicates pressure from sellers of the currency pair and a potential continuation of the instrument’s decline. At the moment, we should expect an attempt to develop a slight bullish correction of the British Pound against the American Dollar…

The currency pair Australian Dollar to US Dollar (AUD/USD) continues to move as part of the development of a strong fall and a downward channel. Moving averages indicate a short-term bearish trend. Prices have broken through the area between the signal signals downwards, which indicates pressure from sellers of the currency pair and a potential continuation of the decline 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 0.6302. At the moment, we should expect an attempt to develop the growth of the…

The quotes of the USD/JPY currency pair continue to move within the framework of growth and a bullish channel. At the time of publication of the forecast, the US Dollar to Japanese Yen exchange rate is 149.05. Moving averages indicate a short-term bullish trend for the pair. Prices moved up from the area between the signal lines, which indicates pressure from buyers of the US Dollar and a potential continuation of price growth from current levels. As part of the Japanese Yen exchange rate forecast for October 6, 2023, we should expect an attempt to develop a price correction and…

The quotes for Brent crude oil continue to move within the correction and bullish channel. At the time of publication of the forecast, the price of Brent oil is $89.34 per barrel. Moving averages indicate a short-term bullish trend for oil. Prices have broken through the area between the signal lines upward, which indicates pressure from buyers of Black Gold and a potential continuation of growth in the value of the asset from current levels. At the moment, we should expect an attempt to develop a correction and a test of the support level near the area of 87.25 dollars…

The currency pair USD/CAD continues to move within the framework of strong growth and a bullish channel. At the time of publication of the forecast, the US Dollar to Canadian Dollar exchange rate is 1.3706. 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 and the potential continued growth of the price pair in the near future. At the moment, it is worth considering an attempt to develop a correction and test the support level near the 1.3625 area. Next, a rebound upwards…

The quotes of XAU/USD continue to move within the fall and downward channel. At the time of publication of the forecast, the price of Gold is 1825 Dollars per Troy Ounce. Moving averages indicate a short-term bearish trend. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers of the asset and a potential continuation of the fall from current levels. At the moment, we can expect an attempt to develop a bullish correction and a test of the resistance level near the 1835 area. From where we can expect a downward rebound and…