Author: forex24pro

The ETH/USD quotes are trading at 1585 and continue to move as part of the development of the fall and the downward channel. The capitalization of the Ethereum cryptocurrency at the time of publication of the forecast is $191,045,798,698. Moving averages indicate a short-term bearish trend for Ether. Prices moved down from the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the value of the asset from current levels. At the moment, we can expect an attempt to develop a rise in the value of the coin and a test…

Against the backdrop of recent events in the eurozone, including the growth of the HCOB Eurozone Composite PMI indicator to 47.1 in September 2023, we have to consider interesting dynamics in the forecast for the euro/dollar exchange rate. Although this figure increased moderately compared to the previous month, it still indicates a significant decline in business activity towards the end of the third quarter, especially in manufacturing. Across the eurozone, there has been a significant decline in orders, with the backlog at its lowest level in several years. The rate of new job creation in the current growth period remains…

Quotes of BRENT oil end the trading week near the area of 92.53 dollars per barrel. The asset continues to move within the correction and has left the long-term bearish channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines upward, which indicates pressure from buyers of raw materials and a potential continuation of growth from current levels. At the moment, we should expect an attempt to develop a decline and test the support area near the level of 87.65. Then, it is worth considering a rebound upward and continued growth of oil…

The currency pair Pound/Dollar GBP/USD ends the trading week in a downward trend. Moving averages indicate a bullish trend. 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 British Pound against the US Dollar from current levels. At this time, we should expect an attempt to develop a rise and test the resistance area near the level of 1.2565. Next, a rebound downwards and a continuation of the fall of Pound/Dollar quotes to the area below the level of 1.1265. GBP/USD Weekly Forecast September…

Currency pair Australian Dollar to US Dollar AUD/USD ends the trading week near the 0.6431 area. The pair continues to move as part of the development of the correction and the formation of the “Triangle” pattern. Moving averages indicate a 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 in the value of the currency pair. At the moment, we should expect an attempt to develop a bullish correction and a test of the resistance area near the level of 0.6475.…

Currency pair Canadian Dollar to US Dollar USD/CAD ends the trading week near the level of 1.3467. The pair continues to move as part of the development of the correction and the bullish channel. Moving averages indicate a 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 in the near future. At the moment, we should expect an attempt to develop a bearish correction and a test of the support level near the 1.3325 area. Then, a rebound upward and continued growth of…

Quotes of the currency pair Dollar to Yen USD/JPY complete the trading week with growth near the area of 148.25. The pair continues to move within the rise and bullish channel. Moving averages indicate a bullish trend. 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 growth from current levels. At the moment, we should expect an attempt to develop a price decline and a test of the support level near the 141.75 area. Then, a rebound upward and continued growth of the pair…

Gold ends the trading week with growth near the 1928 area. XAU/USD quotes continue to move within the correction and bullish channel. Moving averages indicate a bullish trend in Gold. Prices are again testing the area between the signal lines, which indicates pressure from buyers and a potential continuation of price growth. At the moment, we should expect an attempt to develop a decline in prices and a test of the support level near the 1895 area. Next, a rebound in prices and continued growth of Gold with a potential target above the level of 2080. GOLD Weekly Forecast September…

Quotes of the currency pair New Zealand Dollar against the US Dollar NZD/USD end the trading week within the framework of the fall near the level of 0.5953. Moving averages indicate a bearish trend for the pair. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers of the currency pair and a potential continuation of the fall from current levels in the market. At the moment, we should expect an attempt to develop a bullish correction of the currency pair on Forex and a test of the resistance area near the level of…

Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.9051. The pair continues to move within the framework of growth. Moving averages indicate a bearish trend. There is still potential for the formation of a Head and Shoulders reversal pattern. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the American currency and a potential continuation of the instrument’s fall from current levels. At the moment, we should expect an attempt to develop a price fall and a test of the support area near the level of 0.8805. Next,…