Quotes of Silver XAG/USD complete the trading week near the area of 24.65. Quotes continue to move within the growth and bullish channel. Moving averages indicate the presence of a bullish trend for the asset. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the metal and a potential continuation of the fall already from current levels. At the moment, we should expect an attempt to develop a slight increase in the value of the asset and a test of the resistance level near the area of 25.75. Further, the continuation of…
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.
The euro hit its highest level against the US dollar since February 2022. The reason for this was the increased expectations of the completion of the current tightening of the US Federal Reserve policy due to weaker-than-expected inflation data in the country. Meanwhile, investors believe that the European Central Bank has yet to cope with inflationary pressures in the eurozone, despite the slowdown in economic growth and lower inflation in the region. In June, inflation in the Eurozone fell to 5.5%, reaching a 17-month low, but the base rate is still well above the European Central Bank’s target of 2%.…
Quotes of BRENT oil complete the trading week near the area of 79.81 dollars per barrel. The asset continues to move within the framework of growth and the beginning of the development of the “Triangle” model. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines, which indicates pressure from sellers of raw materials and a potential continuation of the decline already from current levels. At the moment, we should expect an attempt to develop a decline and test the support area near the level of 77.05. Then, it is worth considering a rebound…
The currency pair Pound/Dollar GBP/USD completes the trading week as part of the development of growth and the formation of the bearish Wolfe Wave model with the aim of working out at the level of 1.1465. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers and a potential continuation of the growth of the British Pound against the US Dollar already from current levels. At this point, we should expect an attempt to develop a rise and test the resistance area near the level of 1.3205. Further,…
Currency pair Dollar Ruble USD/RUB completes the trading week near the level of 90.24 Rubles per US Dollar. The pair continues to move within the growth and bullish channel. Moving averages indicate a bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the US dollar and a likely continuation of the pair’s growth already from these levels. In the current trading week July 17 — 21, 2023, we should expect an attempt to develop a correction and test the support area near the level of 87.05. Where should we expect a…
Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the area of 0.6839. The pair continues to move as part of the development of strong growth and the formation of a bearish Wolfe Wave pattern. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the asset and a potential continued growth in the value of the currency pair. At the moment, we should expect an attempt to develop a bullish correction and test the resistance area near the level of 0.6905. Then,…
Currency pair Canadian Dollar to US Dollar USD/CAD completes the trading week near the level of 1.3208. The pair continues to move as part of the development of a strong downward correction and a bullish channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the currency pair and a potential continuation of the fall in the near future. At the moment, we should expect an attempt to develop a fall and test the support level near the area of 1.3045. Then, a rebound upwards and…
Quotes of the currency pair Dollar to Yen USD/JPY complete the trading week with a strong correction near the area of 138.83. The pair continues to move within the framework of a strong correction and a bullish channel. Moving averages indicate a bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the US dollar and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop a price reduction and a test of the support level near the area of 137.65. Then, a…
Gold ends the trading week with growth near the 1959 area. XAU/USD quotes continue to move as part of a slight rise and a bullish channel. Moving averages indicate the presence of a bullish trend for Gold. Prices have broken through the area between the signal lines up, which indicates pressure from buyers and a potential continuation of price growth. At the moment, we should expect an attempt to develop a decrease in prices and a test of the support level near the 1910 area. Further, a rebound in prices and continued growth of Gold with a potential target above…
Quotes of the currency pair New Zealand Dollar against the US Dollar NZD/USD complete the trading week as part of a correction near the level of 0.6374. Moving averages indicate the presence of a bearish trend for the pair. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the currency pair and a potential continuation of growth already from current levels on the market. At the moment, we should expect an attempt to develop the rise of the currency pair on Forex and test the resistance area near the level of 0.6365.…