Author: forex24pro

LTC/USD are trading at 91.83 and continue to move within the growth and bullish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $6,658,406,745. Moving averages indicate the presence of a short-term bullish trend for Litecoin. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the asset and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop a correction of the digital asset and a test of the support level near the area of…

We have a busy week ahead of us with rate decisions from several central banks at once. The Fed plans to raise rates at a slower pace a week earlier as inflation eases. But the ECB and the Bank of England may raise their rates more than the Fed, which may have a negative impact on the US dollar. It is believed that the abnormally hot winter in Europe played a role in strengthening the EUR/USD pair and, in general, slowing down the upcoming problems in the eurozone. As for the UK, the economy is in the worst condition here,…

BRENT complete the trading week near the area of 88.19 dollars per barrel. The asset continues to move within the framework of growth and the beginning of the development 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 78.05. Then, it is worth considering a rebound upwards…

Currency pair Pound Dollar GBP/USD completes the trading week as part of the development of a bullish correction near the area of 1.2371. The pair continues to move as part of the formation of the bearish “Wolfe Wave” pattern, the target of the pattern is the level of 1.1755. Moving averages indicate a bearish 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…

Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 67.21 Rubles per US Dollar. The pair continues to move within the correction and the bullish channel. Moving averages indicate a bearish 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 January 30 — February 3, 2023, we should expect an attempt to develop a decline and test the support area near the level of…

Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the area of 0.7109. The pair continues to move as part of the development of a bullish correction and a downward channel. 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 0.7345. Then, a rebound and continued…

The pair Canadian Dollar to US Dollar USD/CAD completes the trading week near the level of 1.3314. The pair continues to move within the correction and the 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 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 1.3065. Then, a rebound upwards and the continuation of the rise of…

Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week of corrections near the area of 129.76. The pair continues to move within the correction and the downward channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines down, which indicates pressure from US dollar sellers and a potential continuation of the fall. At the moment, we should expect an attempt to develop a fall and test the support level near the area of 129.15. Then, a rebound upwards and the continuation of the growth of the pair to…

GOLD ends the trading week with strong growth near the 1985 area. XAU/USD quotes continue to move as part of growth 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 area of 1855. Further, the continuation of the growth in the price of Gold with a potential target…

Quotes of the New Zealand Dollar to US Dollar NZD/USD complete the trading week as part of the growth near the level of 0.6492. There is potential for a downward Wolfe Wave to form, which could poison the pair towards 0.5915. Moving averages indicate the presence of a bearish trend for the pair. Prices have broken through the area between the signal lines upwards, 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 continue the development of the…