Daily Market Analytics - Forex

GBPUSD Technical Analysis – 03rd JUNE, 2024

GBPUSD – Resistance of Channel is Broken

GBPUSD 3rd June 2024.png


GBPUSD was unable to sustain its bearish momentum and after touching a low of 1.2685, the prices started correcting upwards crossing the 1.2780 handle today in the European Trading session.
We have detected the formation of Moving Average Bullish crossover pattern with the MA20 & MA50 in the 15-minutes timeframe.
The resistance of the channel and triangle is broken in the 1-hourly timeframe.

We can see the Super Trend indicator bullish reversal signal in the 1-hourly timeframe.
The Parabolic SAR indicator is giving a bullish reversal signal in the 2-hourly timeframe.
The Ichimoku price is over the cloud in the 4-hourly timeframe.

GBPUSD is now trading above its 100-hour SMA and above its 200-hour SMA simple moving average.

• Pound Bullish Reversal seen Above the 1.2685 mark.
• Short-term range appears to be Mild Bullish.
• GBPUSD continues to remain Above the 1.2760 levels.
• Average true range ATR is indicating High market volatility.

GBPUSD is now trading just above its Pivot levels of 1.2771 and is moving into a Strongly Bullish channel.
The price of GBPUSD is aiming to cross its Classic Resistance levels of 1.2785 after which we can see the breach of 1.2800 levels which is a 1-months High.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
EURUSD Technical Analysis – 06th JUNE, 2024

EURUSD – Bearish Price Crossover pattern

EURUSD 6th June 2024.png


EURUSD was unable to sustain its bullish momentum and after touching a low of 1.0895 started its bearish correction phase coming down below the 1.0880 handle today in the European Trading session.
We can see the formation of Bearish Price Crossover pattern with the Moving Average MA20 and MA50 in the 1-hourly timeframe.
The prices of Euro are ranging near the resistance of the channel in the 1-hourly timeframe indicating the bearish nature of the markets.

We can also see the formation of Doji which is indicative of the Neutral stance present in the markets.
The RSI Indicator is back under 50 in the 1-hourly timeframe indicating the Bearish Trend.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.
• Euro Bearish Reversal seen Below the 1.0895 mark.
• Short-term range appears to be Mild Bearish.
• EURUSD continues to remain Below the 1.0880 levels.
• Average true range ATR is indicating less market volatility.

The next Support is located at 1.0873 which is a 3-10 Day MACD Oscillator Stalls.

EURUSD is now trading below its Pivot levels of 1.0879 and is moving into a Mild bearish channel. The price of EURUSD remains below its Classic resistance levels of 1.0883 and is moving towards its next target of 1.0862 which is a 50% Retracement From 52 Week High/Low.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
GBPUSD Technical Analysis – 06th JUNE, 2024

GBPUSD – Bearish Trend Reversal

GBPUSD 6th June 2024.png


GBPUSD was unable to sustain its bullish momentum and after touching a high of 1.2808, the prices started correcting downwards crossing the 1.2780 handle today in the European Trading session.
We have detected the formation of Bearish Trend Reversal pattern with the Adaptive Moving Average AMA50 in the 1-hourly timeframe.
The MACD crosses DOWN its Moving Average in the 2-hourly timeframe indicative of the Bearish Trends.

The price of GBPUSD is back under the Pivot point in the 4-hourly timeframe which indicates the bearish pressure present into the markets.
The prices are ranging near the resistance of the channel in the daily timeframe indicating the Bearish Trends.

GBPUSD is now trading above its 100-hour SMA and above its 200-hour SMA simple moving average.
• Pound Bearish Reversal seen below the 1.2808 mark.
• Short-term range appears to be Mild Bearish.
• GBPUSD continues to remain Below the 1.2780 levels.
• Average true range ATR is indicating less market volatility.

GBPUSD is now trading just below its Pivot levels of 1.2782 and is moving into a Strongly Bearish channel.
The price of GBPUSD is aiming to cross its Classic support levels of 1.2765 which is a 14-3 Day Raw Stochastic at 70%.

We are also looking for the breach of the levels of 1.2758 in the immediate short term at which the Price Crosses 9 Day Moving Average.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
AUDUSD Technical Analysis – 06th JUNE, 2024

AUDUSD – Bearish Price Crossover pattern

AUDUSD 6th June 2024.png


AUDUSD was unable to sustain its bullish momentum and after touching a low of 0.6682 started its bearish correction phase coming down below the 0.6650 handle today in the European Trading session.
We can see the formation of Bearish Price Crossover pattern with the Moving Average MA100 in the 2-hourly timeframe.
The prices of AUDUSD are ranging near the resistance of the channel in the daily timeframe indicating the bearish nature of the markets.

The MACD crosses DOWN its Moving Average in the 2-hourly timeframe indicating the Bearish Trends.
The Super Trend Indicator is giving a Bearish Signal in the 1-hourly timeframe.

AUDUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
• AUDUSD Bearish Reversal seen Below the 0.6682 mark.
• Short-term range appears to be Mild Bearish.
• AUDUSD continues to remain Below the 0.6650 levels.
• Average true range ATR is indicating less market volatility.

The next Support is located at 0.6636 which is a 50% Retracement From 4 Week High/Low.

AUDUSD is now trading below its Pivot levels of 0.6649 and is moving into a Mild bearish channel. The price of AUDUSD remains below its Classic resistance levels of 0.6652 and is moving towards its next target of 0.6627 at which the Price Crosses 9 Day Moving Average Stalls.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
NZDUSD Technical Analysis – 06th JUNE, 2024

NZDUSD – Bearish Trend Reversal

NZDUSD 6th June 2024.png


NZDUSD was unable to sustain its bullish momentum and after touching a low of 0.6214 started its bearish correction phase coming down below the 0.6190 handle today in the European Trading session.
We can see the formation of Bearish Trend Reversal pattern with the Adaptive Moving Average AMA100 in the 1-hourly timeframe.

The prices of NZDUSD are ranging near the resistance of the channel in the weekly timeframe indicating the bearish nature of the markets.
We can also see that the MACD crosses DOWN its Moving Average in the 4-hourly timeframe.
The RSI Indicator is back under 50 in the 2-hourly timeframe indicating the Bearish Trend.

NZDUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.
• NZDUSD Bearish Reversal seen Below the 0.6214 mark.
• Short-term range appears to be Mild Bearish.
• NZDUSD continues to remain Below the 0.6190 levels.
• Average true range ATR is indicating less market volatility.

The next Support is located at 0.6175 which is a 14-3 Day Raw Stochastic at 80%.

NZDUSD is now trading below its Pivot levels of 0.6186 and is moving into a Mild bearish channel. The price of NZDUSD remains below its Classic resistance levels of 0.6189 and is moving towards its next target of 0.6153 at which the Price Crosses 9 Day Moving Average.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
EURUSD Technical Analysis – 07th JUNE, 2024

EURUSD – Bearish Price Crossover Pattern

EURUSD 7th June 2024.png


EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0901 the prices started declining against the United States Dollar.
We can see the formation of Bearish Price Crossover pattern with the Adaptive Moving Average AMA20 and AMA50 in the 30-minutes timeframe.
The CCI Indicator is giving a Bearish Divergence signal in the 15-minutes timeframe.
The MACD crosses DOWN its Moving Average in the 30-minutes timeframe.

The Ichimoku price is under the cloud in the 30-minutes timeframe which is indicative of the Bearish Tendencies present into the markets.
We can also see the formation of a Long Black Line in the 30-minutes timeframe which is a Bearish formation.
The Super Trend indicator is also giving a bearish reversal signal in the 1-hourly timeframe.

EURUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
• Euro Bearish Reversal seen Below the 1.0901 mark.
• Short-term range appears to be Strongly Bearish.
• EURUSD continues to remain below the 1.0840 levels.
• Average true range ATR is indicating high market volatility.

The next support is located at 1.0828 which is a 14 Day RSI at 50%.
EURUSD is now trading below its Pivot levels of 1.0896 and is moving into a Strongly Bearish channel.

The price of EURUSD remains below its Classic support levels of 1.0875 and is moving towards its next target of 1.0826 which is a 14-3 Day Raw Stochastic at 30%.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
GBPUSD Technical Analysis – 07th JUNE, 2024

GBPUSD – Bearish Price Crossover Pattern

GBPUSD 7th June 2024.png


GBPUSD was unable to sustain its bullish momentum and after touching a high of 1.2811, the prices started correcting downwards crossing the 1.2725 handle today in the European Trading session.
We have detected the formation of Bearish price crossover pattern with the Adaptive Moving Average AMA 20, AMA50 and AMA100 in the 30-minutes timeframe.
The MACD crosses DOWN its Moving Average in the 30-minutes timeframe indicative of the Bearish Trends.

Both the Parabolic SAR indicator and RSI indicator are giving a bearish reversal signal in the 30-minutes timeframe.
We can also see the Ichimoku price is under the cloud in the 30-minutes timeframe.

GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average.
• Pound Bearish Reversal seen below the 1.2811 mark.
• Short-term range appears to be Strongly Bearish.
• GBPUSD continues to remain Below the 1.2730 levels.
• Average true range ATR is indicating high market volatility.

GBPUSD is now trading below its Pivot levels of 1.2761 and is moving into a Strongly Bearish channel.
The price of GBPUSD is aiming to cross its Classic support levels of 1.2704 with further progression towards the 1.2702 which is a 3-10-16 Day MACD Moving Average Stalls.
We are also looking for the breach of the levels of 1.2686 which is a 14 Day RSI at 50%.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
AUDUSD Technical Analysis – 07th JUNE, 2024

AUDUSD – Bearish Trend Reversal

AUDUSD 7th June 2024.png


AUDUSD was unable to sustain its bullish momentum and after touching a high of 0.6680 started its bearish correction phase coming down below the 0.6600 handle today in the European Trading session.
We can see the formation of Bearish Trend Reversal pattern with the Moving Average MA20, MA50 and MA100 in the 1-hourly timeframe.
The Parabolic SAR indicator is giving a bearish reversal signal in the 2-hourly timeframe.

We can also see the formation of Long Black line which is indicative of the bearish tendencies present in the markets.
The MACD crosses DOWN its Moving Average in the 4-hourly timeframe indicating the Bearish Trends.
The Super Trend Indicator is giving a Bearish Signal in the 4-hourly timeframe.

AUDUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
• AUDUSD Bearish Reversal seen Below the 0.6680 mark.
• Short-term range appears to be Strongly Bearish.
• AUDUSD continues to remain Below the 0.6600 levels.
• Average true range ATR is indicating high market volatility.

The next Support is located at 0.6585 which is a 50% Retracement From 52 Week High/Low.
AUDUSD is now trading below its Pivot levels of 0.6628 and is moving into a Strong bearish channel. The price of AUDUSD remains above its Classic resistance levels of 0.6585 and is moving towards its next target of 0.6582 at which the Price Crosses 40 Day Moving Average.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
NZDUSD Technical Analysis – 07th JUNE, 2024

NZDUSD – Moving Average Bearish Crossovers

NZDUSD 7th June 2024.png


NZDUSD was unable to sustain its bullish momentum and after touching a high of 0.6202 started its bearish correction phase coming down below the 0.6130 handle today in the European Trading session.
We can see the formation of Moving Average Bearish Crossovers pattern with the MA20 and MA50 in the 1-hourly timeframe.
The Aroon indicator is giving bearish trend signal in the 2-hourly timeframe.

The Ichimoku price is under the cloud in the 2-hourly timeframe indicating the bearish trends.
The Super Trend indicator is also giving bearish reversal signal in the 2-hourly timeframe.

NZDUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
• NZDUSD Bearish Reversal seen Below the 0.6202 mark.
• Short-term range appears to be Strongly Bearish.
• NZDUSD continues to remain Below the 0.6130 levels.
• Average true range ATR is indicating high market volatility.

The next Support is located at 0.6109 which is a 14-3 Day Raw Stochastic at 20%.
NZDUSD is now trading below its Pivot levels of 0.6159 and is moving into a Strongly bearish channel. The price of NZDUSD remains above its Classic resistance levels of 0.6117 and is moving towards its next target of 0.6101 which is a 14 Day RSI at 50%.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
EURUSD Technical Analysis – 11th JUNE, 2024

EURUSD – Bearish Price Crossover Pattern

EURUSD 11th June 2024.png


EURUSD continues its bearish momentum from last week after failing to clear the resistance of 1.0780 the prices of Euro continue to decline against the United States Dollar.
We can see the formation of Bearish Price Crossover pattern with the Adaptive Moving Average AMA20 and AMA100 in the weekly timeframe.
The Parabolic SAR indicator is giving a bearish reversal signal in the 2-hourly timeframe.
The Ichimoku price is under the cloud in the 15-minutes timeframe indicating the bearish trends.

The support of the channel is also broken in the 15-minutes timeframe.
The prices of EURUSD are back under the Pivot point in the 2-hourly timeframe indicative of the bearish trends present in the markets.
We can also see the formation of a Downside GAP in the weekly timeframe which also suggests the continuation of the selling pressure in the markets.

EURUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
• Euro Bearish Continuation seen Below the 1.0780 mark.
• Short-term range appears to be Mildly Bearish.
• EURUSD continues to remain below the 1.0800 levels.
• Average true range ATR is indicating less market volatility.

The next support is located at 1.0739 which is a 38.2% Retracement From 13 Week Low.
EURUSD is now trading below its Pivot levels of 1.0751 and is moving into a Mild Bearish channel.

The price of EURUSD remains above its Classic support levels of 1.0715 and is moving towards its next target of 1.0736 which is a 3-10 Day MACD Oscillator Stalls.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
GBPUSD Technical Analysis – 11th JUNE, 2024

GBPUSD – Near Resistance of Channel

GBPUSD 11th June 2024.png


GBPUSD continues its bearish momentum from last week after failing to clear the resistance located at 1.2750 as the prices continue to decline against the United States Dollar.
The prices of GBPUSD are near the resistance of channel in the 1-hourly timeframe indicating the bearish trends present in the markets.
We can see the formation of Bearish Trend Reversal pattern with the Adaptive Moving Average AMA20 in the 2-hourly timeframe.

Some of the technical indicators are also giving a bullish stance which means that prices may be due for a short-term upwards correction.
The prices of GBPUSD are ranging near a new record low of 1-months.

GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average.
• Pound Bearish Continuation seen below the 1.2737 mark.
• Short-term range appears to be Mild Bearish.
• GBPUSD continues to remain Below the 1.2750 levels.
• Average true range ATR is indicating less market volatility.

GBPUSD is now trading above its Pivot levels of 1.2726 and is moving into a Mild Bearish channel.
The price of GBPUSD is aiming to cross its Classic support levels of 1.2720 with further progression towards the 1.2718 which is a 14-3 Day Raw Stochastic at 30%.

We are also looking for the breach of the levels of 1.2700 at which the Price Crosses 9 Day Moving Average Stalls.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
AUDUSD Technical Analysis – 11th JUNE, 2024

AUDUSD – Near Resistance of Triangle

AUDUSD 11th June 2024.png


AUDUSD continues its bearish momentum from last week after failing to clear the resistance levels located at 0.6620 as we can see a continuous decline in its levels today in the European Trading session.
The prices of NZDUSD are ranging near the resistance of triangle in the weekly timeframe which indicates the bearish trends present in the markets.
The prices are back under the Pivot point in both the 4-hourly and daily timeframe indicating the bearish tendencies.

We can see the formation of Bearish price crossover pattern with the Adaptive Moving Average AMA20 in the 2-hourly timeframe.
The MACD crosses DOWN its Moving Average in the 1-hourly timeframe indicating the Bearish Trends.
The Momentum indicator is back under Zero in the 30-minutes timeframe.

AUDUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
• AUDUSD Bearish Continuation seen Below the 0.6612 mark.
• Short-term range appears to be Mild Bearish.
• AUDUSD continues to remain Below the 0.6600 levels.
• Average true range ATR is indicating less market volatility.

The next Support is located at 0.6585 which is a 50% Retracement From 52 Week High/Low.
AUDUSD is now trading below its Pivot levels of 0.6597 and is moving into a Mild bearish channel.

The price of AUDUSD remains below its Classic resistance levels of 0.6601 and is moving towards its next target of 0.6579 which is a 38.2% Retracement From 13 Week High.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
NZDUSD Technical Analysis – 11th JUNE, 2024

NZDUSD – Aroon Indicator Bearish Trend

NZDUSD 11th June 2024.png


NZDUSD continues its bearish momentum from last week after failing to clear the resistance located at 0.6140 as the prices continue to decline against the United States Dollar.
The prices of NZDUSD are ranging near the resistance of the triangle in the weekly timeframe indicating the bearish trends.

The Aroon indicator is giving bearish trend signal in the 15-minutes timeframe.
The prices are also ranging near a new record low of 1-months in the weekly timeframe.
Some of the technical indicators are also giving a Bullish trend signal which indicates that the prices may be due for upwards correction in the immediate short term.

NZDUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
• NZDUSD Bearish Continuation seen Below the 0.6132 mark.
• Short-term range appears to be Mild Bearish.
• NZDUSD continues to remain Below the 0.6130 levels.
• Average true range ATR is indicating less market volatility.

The next Support is located at 0.6122 which is a 14-3 Day Raw Stochastic at 30%.
NZDUSD is now trading just near to its Pivot levels of 0.6126 and is moving into a Mild bearish channel.

The price of NZDUSD remains below its Classic resistance levels of 0.6130 and is moving towards its next target of 0.6115 at which the Price Crosses 9 Day Moving Average Stalls.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
 
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