The currency pair EUR/USD completes the trading week near the area of 1.0609 and continues to move within the correction and the downward channel. Moving averages indicate the presence of a sideways trend. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the European currency and a likely continuation of the fall from current levels. At the moment, we should expect an attempt to develop a bullish correction of quotes and a test of the resistance area near the level of 1.0745. Where is the expected rebound down and 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.
BRENT complete the trading week near the area of 84.34 dollars per barrel. The asset continues to move within the framework of growth and the beginning of the development of the formation of the reversal pattern “Wedge”. 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 bearish correction and test the support area near the level of 78.35. Then, it is worth considering…
Currency pair Pound Dollar GBP/USD completes the trading week as part of the development of a correction near the area of 1.1970. The pair continues to move within the formation of the double top reversal pattern. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines down, which indicates pressure from sellers and a potential continuation of the fall 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 1.2265. Further,…
Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 73.56 Rubles per US Dollar. The pair continues to move within the growth and bullish channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines up, 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 March 6 — 10, 2023, we should expect an attempt to develop a decline and test the support area near the level of 70.05. Where…
Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the area of 0.6748. The pair continues to move as part of the development of the fall and the long-term downward channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines down, 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 test the resistance area near the level of 0.6845. Then, a rebound…
The pair Canadian Dollar to US Dollar USD/CAD completes the trading week near the level of 1.3578. The pair continues to move as part of the growth and the formation of the “Triangle” pattern. Moving averages indicate a bullish trend. 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 in the near future. At the moment, we should expect an attempt to develop a slight correction and a test of the support level near the area of 1.3325.Then, a rebound upwards and the…
Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week with growth near the area of 136.44. The pair continues to move as part of the growth and the formation of the bullish “Wolfe Wave” pattern. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines up, which indicates pressure from US dollar buyers and a potential continuation of growth. At the moment, we should expect an attempt to develop growth and test the resistance level near the area of 137.05. Then, a rebound down and the continuation of the…
GOLD ends the trading week with strong growth near the 1842 area. XAU/USD quotes continue to move as part of the growth and the bullish channel. Moving averages indicate the presence of a bullish trend for 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 price decline and test the support level near the 1785 area. Further, the continuation of the growth in the price of Gold with a potential target above the level of…
Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week as part of the fall near the level of 0.6222. Moving averages indicate the presence of a bearish trend for the pair. 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 growth already from current levels on the market. At the moment, we should expect an attempt to develop a correction of the currency pair on Forex and a test of the resistance area near the level of 0.6315. Then,…
Currency pair USD/CHF Dollar/Franc completes the trading week near the level of 0.9396. The pair continues to move within the framework of growth and a downward channel. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the US currency and a potential continuation of the fall of the instrument from current levels. At the moment, we should expect an attempt to develop the price growth and test the resistance area near the level of 0.9525. Further, a rebound down and an attempt to continue the fall of…