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BTCUSD analysis for 27.02.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

In the current analysis of BTCUSD, the 4-hour chart exhibits a bullish pattern, propelled by fundamental influences like regulatory changes and investor sentiment, alongside technical momentum. Bitcoin's decentralized nature and reaction to geopolitical and macroeconomic factors enhance its appeal and influence its market value. The chart's depiction of higher lows and highs points to an ongoing bullish momentum, with previous resistance levels now acting as support, potentially paving the way for further increases.

Technical indicators such as the MACD and RSI align with a bullish perspective, while the positioning of the price above moving averages suggests sustained positive momentum. Nonetheless, traders are reminded of the cryptocurrency's inherent volatility and the importance of staying informed on relevant news. A disciplined approach to risk management and not solely depending on technical analysis is recommended.

Disclaimer: This analysis is intended for informational purposes only and should not be taken as investment advice. Trading decisions should be based on individual risk tolerance, market knowledge, and thorough analysis.

To read more about the BTCUSD's technical and fundamental prospects, please click on this link (https://fxglory.com/2024/02/27/btcusd-analysis-for-27-02-2024/)

FXGlory
27.02.2024

NZDCAD analysis for 28.02.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The NZD/CAD currency pair reflects the exchange rate between the New Zealand Dollar and the Canadian Dollar, two commodity-dependent economies. The NZD is often influenced by dairy prices and New Zealand's economic indicators, while the CAD is closely tied to oil prices and economic developments in Canada. Trade relationships with global partners, especially China and the United States, can significantly impact these currencies. Additionally, monetary policy announcements from the Reserve Bank of New Zealand and the Bank of Canada, as well as changes in global risk sentiment, are important to monitor for their potential influence on the NZD/CAD exchange rate.

Price Action:
The H4 chart for NZDCAD displays a zigzag pattern, indicating a period of consolidation with clear swings between support and resistance levels. The price appears to be within a downtrend channel but recently showing signs of recovery, with the latest candles suggesting a potential reversal or pullback.

Key Technical Indicators:
MACD: The MACD line is close to the signal line, with the histogram showing minimal bars, indicating a lack of strong momentum in either direction. This could suggest a market in balance or indecision among traders.

RSI (Relative Strength Index): The RSI indicator is around the midpoint of 50, which does not indicate an overbought or oversold market. This suggests a neutral momentum currently in the market.
Ichimoku: The price is navigating around the Ichimoku cloud, which could be indicative of a potential trend change if the price breaks through the cloud.

Support and Resistance:
Support: The current support level can be identified by the lower boundary of the recent price channel and the consolidation area.

Resistance: Resistance is likely at the upper boundary of the price channel and the previous high points within the consolidation range.

Conclusion and Consideration:
The H4 chart for NZDCAD shows a market experiencing consolidation, with potential for a breakout in either direction. While recent price action suggests a slight bullish recovery, the key technical indicators do not present a clear direction, indicating a wait-and-see approach may be prudent. Traders should keep abreast of economic indicators from both New Zealand and Canada, as well as global commodity prices, to anticipate potential shifts in the currency pair's movement.

Disclaimer: This analysis is intended for informational purposes only and should not be taken as investment advice. Trading decisions should be based on individual risk tolerance, market knowledge, and thorough analysis.

FXGlory
28.02.2024

BTCUSD analysis for 29.02.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Bitcoin, unlike traditional currencies or commodities, is influenced by factors such as regulatory news, technological developments, and its adoption by businesses and consumers. Market sentiment can also be significantly affected by global economic factors, security of the exchanges, and broader financial market trends. Bitcoin's decentralized nature makes it sensitive to perceived risk in blockchain technology and changes in sentiment towards cryptocurrency as an asset class.

Price Action:
The BTCUSD H4 chart exhibits a strong uptrend, with the price moving sharply higher. This rally signifies a bullish market sentiment with increasing buyer dominance. Recently, the price has reached new highs, indicating a continued bullish outlook in the short term.

Key Technical Indicators:
Bollinger Bands: The price has been consistently riding the upper Bollinger Band, indicating a strong uptrend. This could suggest that the market is potentially overbought, but in a strong trend, the price can remain overbought for an extended period.

RSI (Relative Strength Index): The RSI is above 70, suggesting that the market may be overbought. However, in strong trending markets, the RSI can remain in overbought or oversold territories for prolonged periods.

MACD (Moving Average Convergence Divergence): The MACD line is above the signal line and has been expanding, which indicates strong bullish momentum. This could suggest that the uptrend is likely to continue.

Parabolic SAR: The last 14 dots of the Parabolic SAR are below the candles, which confirms the bullish trend. This indicator suggests that the uptrend is strong and has been consistent over the last several periods.

Support and Resistance:
Support: The nearest support level can be identified by the recent lows before the latest upward price movement.

Resistance: Given the recent price surge, the resistance would be at the all-time highs or yet to be established as the price is in discovery mode.

Conclusion and Consideration:
In the H4 chart for BTCUSD, the market is exhibiting a strong bullish trend, as indicated by the Bollinger Bands and the Parabolic SAR, with the MACD supporting the view of sustained bullish momentum. The RSI suggests that the market is overbought, which in the context of a strong trend, does not necessarily imply an immediate reversal. Traders should consider the possibility of continued bullish momentum, but also be cautious of potential retracements, as nothing moves up in a straight line. It's advisable for traders to monitor the market for signs of trend exhaustion and to employ proper risk management strategies, given the volatility of Bitcoin. Keeping an eye on crypto-related news and market sentiment is also crucial for anticipating potential price movements.

Disclaimer: This analysis is intended for informational purposes only and should not be taken as investment advice. Trading decisions should be based on individual risk tolerance, market knowledge, and thorough analysis.

FxGlory
29.02.2024

AUDJPY analysis for 05.03.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

The AUD/JPY currency pair is currently showing a positive trend reversal, transitioning from a decline to an upward trajectory, evidenced by the formation of higher highs and higher lows. The recent recovery from the lower Bollinger Band is a strong indicator of a possible continuation of this upward trend. Additionally, the Parabolic SAR points to a bullish outlook in the near term, complemented by the MACD, which is leaning towards an increase in bullish momentum, despite the RSI hovering around a moderate level of 46. Support is primarily found at the lower Bollinger Band and the recent low points, whereas resistance is likely encountered at the middle Bollinger Band and the heights reached previously. The direction of this pair will be significantly influenced by fluctuations in commodity prices, shifts in global risk appetite, and policy decisions from the Reserve Bank of Australia and the Bank of Japan. Traders are encouraged to keep a close watch on these determinants and prioritize risk management practices in their decision-making.

Disclaimer: This analysis is for informational purposes only and should not be taken as investment advice. It's crucial for traders to conduct their own research and consider their risk tolerance before trading.

Explore in-depth market insights and strategic trading tips by clicking here (https://fxglory.com/2024/03/05/audjpy-analysis-for-05-03-2024/).

FXGlory
05.03.2024

GOLD analysis for 07.03.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

On the H4 chart, the GOLD/USD pairing exhibits a pronounced upward momentum. Fundamentally, the precious metal's value often climbs in response to certain economic signals, like central bank decisions or periods of uncertainty, solidifying its role as a refuge for investors. From a technical vantage point, gold prices are trending well above the Ichimoku cloud, hinting at strong bullish sentiment but facing imminent resistance, underscored by the market's volatility near the upper Bollinger Band. The RSI suggests an overbought market, potentially foreshadowing a downturn, yet the bullish MACD aligns with the uptrend's persistence. Notable support resides at the lower boundary of the Ichimoku cloud, with pivotal resistance appearing near the recent highs and round number markers. Vigilance regarding global economic and political news, combined with sound risk management, is recommended in navigating gold's dynamic pricing landscape.

Disclaimer: This overview is provided for information only, without constituting financial advice. It's imperative for market participants to perform independent research and tailor their strategies to their risk profile before engaging in trades.

For further detailed market insights and expert trading strategies, click here. (https://fxglory.com/2024/03/07/gold-analysis-for-07-03-2024/)

FXGlory
07.03.2024

USDJPY analysis for 08.03.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

The USD/JPY pair has been exhibiting a marked downtrend on the H4 chart, as indicated by consistent lower highs and lower lows, hinting at continued bearish sentiment. The fundamental outlook hinges on U.S. economic indicators and the Bank of Japan's monetary policy, with the yen's safe-haven status also playing a role amid global financial volatility. Technical indicators support the downtrend: the price below the Ichimoku cloud suggests bearishness, the Bollinger Bands indicate a sustained downward push into oversold territory, and the MACD's divergence below the signal line reveals increasing selling momentum. The RSI's dip below 30 could signal an oversold market, potentially leading to a retracement. Resistance and support are identified at 148.180 and 147.530, respectively. Traders are advised to watch for economic updates and maintain risk management practices.

Disclaimer: This analysis is for informational purposes only and should not be taken as investment advice. It's crucial for traders to conduct their own research and consider their risk tolerance before trading.

Explore in-depth market insights and strategic trading tips by clicking here (https://fxglory.com/2024/03/08/usdjpy-analysis-for-08-03-2024/).

FXGlory
08.03.2024

Dear BADecker,

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We wish you the best of luck on your trading journey! ;)
Remember, knowledge, patience, and discipline are key to navigating the markets successfully. Stay informed, continuously refine your strategy, and don't forget to manage your risks wisely. Happy trading!

EURUSD analysis for 12.03.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

The EURUSD pairing is experiencing a period of equilibrium above the Ichimoku cloud after its ascent, indicating a bullish backdrop with emerging caution. Economic metrics and policy shifts from the Eurozone and the US are pivotal to its course. Technically speaking, the bullish stance is suggested by the Ichimoku, yet the RSI around 59 and a narrowing MACD hint at a decelerating climb. Support is established at the lower span of the Ichimoku cloud and further at 1.0895, while resistance is faced near the recent top at 1.0935 and then at 1.0954. Vigilance is advised concerning the forthcoming financial disclosures from both economies, and traders should remain vigilant, employing risk management in anticipation of potential market changes.

Disclaimer: This analysis is for informational purposes only and should not be taken as investment advice. It's crucial for traders to conduct their own research and consider their risk tolerance before trading.

Explore in-depth market insights and strategic trading tips by clicking here. (https://fxglory.com/2024/03/12/eurusd-analysis-for-12-03-2024/)

FXGlory
12.03.2024

EURUSD analysis for 18.03.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

In the current climate, the EUR/USD's trajectory is heavily influenced by economic news from the Eurozone and the US. The downtrend on the H4 chart is evident, with a noteworthy bearish pattern in play. The RSI suggests the pair is oversold, hinting at a possible slowdown in the bearish trend, while the MACD indicates continued downward momentum. Key levels to watch include the recent low as support and the initial descent base as resistance, along with the Ichimoku cloud boundary. Market participants may look for trading signals such as an RSI uptick or a shift in the MACD, but should remain vigilant of the macroeconomic forces that could abruptly affect the pair's direction.

Disclaimer: This analysis is for informational purposes only and should not be taken as investment advice. It's crucial for traders to conduct their own research and consider their risk tolerance before trading.

Discover detailed market insights and strategic trading advice by clicking here (https://fxglory.com/2024/03/18/eurusd-analysis-for-18-03-2024/).

FXGlory
18.03.2024

Analysis of BTCUSD as of March 21, 2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

The BTC/USD pair demonstrates signs of a turnaround, with the market structure on the 4-hour chart forming a pattern of increasing lows and highs, hinting at a potential shift in trend from bearish to bullish. The driving factors for Bitcoin's market value against the US Dollar are a mixture of Bitcoin’s adoption curve, global regulatory shifts, technological breakthroughs, and key US economic indicators. The MACD's position above the signal line and a positive RVI suggest bullish market conditions. The RSI, positioned just above the midpoint, indicates there's room for upward price movement. Price is approaching the upper Bollinger Band, signaling potential upcoming resistance, while the price also approaches the 50% Fibonacci retracement level, an area known for resistance. Support lies at the latest low, in line with the lower Bollinger Band, and the pivotal 0% Fibonacci level.

Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Traders are advised to do their own research and consider their risk tolerance prior to trading.

For detailed market analysis and strategic trading insights, visit here (https://fxglory.com/2024/03/21/btcusd-analysis-for-21-03-2024/).

FXGlory
21.03.2024

XRPUSD Analysis for 25.03.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Analyzing XRP/USD on the four-hour chart reveals a recovering market, with price action currently testing the upper boundary of recent trading ranges. A definitive break above the 9-period and 17-period moving averages signals a possible bullish trend inception. The MACD's bullish divergence underpins this trend, while the RSI, poised at a balanced 54, indicates potential upside without the immediate risk of overvaluation. The trend's continuity is further bolstered by the Parabolic SAR indicators below the price. The chart identifies a key support level near the $0.58 to $0.60 zone, with near-term resistance encountered at the current price level. A successful breach could invite further advances. Traders should monitor Ripple's industry news and the US Dollar's performance for broader market cues.

Disclaimer: This analysis is for informational purposes only and should not be taken as investment advice. It's crucial for traders to conduct their own research and consider their risk tolerance before trading.

Discover detailed market insights and strategic trading advice by clicking here (https://fxglory.com/2024/03/25/xrpusd-analysis-for-25-03-2024/).

FXGlory
25.03.2024

GOLD analysis for 26.03.2024 (https://fxglory.com/2024/03/26/gold-analysis-for-26-03-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Gold, as a traditional safe-haven asset, is impacted by global economic conditions, monetary policies, and geopolitical tensions. Interest rate changes and inflationary pressures can significantly influence gold prices. The demand for gold from consumers, investors, and central banks also plays a pivotal role in its valuation. Currently, market sentiment towards gold could be driven by such fundamental factors.

Price Action:
The GOLD H4 chart shows a fluctuating trend with a recent sharp rise followed by consolidation. This pattern reflects a market with mixed sentiment, where both buyers and sellers are struggling for dominance. The latest candlesticks are relatively small and close to each other, indicating indecision in the market.

Key Technical Indicators:
MACD (Moving Average Convergence Divergence): The MACD histogram is below the baseline, suggesting bearish momentum. However, the lines are converging, indicating a potential shift in momentum.
Ichimoku Kinko Hyo: The price is currently below the Ichimoku cloud, which could be interpreted as bearish. The recent crossover of the Tenkan-sen above the Kijun-sen may hint at a possible change in trend.

Support and Resistance:
Support: The nearest support level is around the recent lows where the price has shown a reluctance to move lower.
Resistance: Resistance can be identified at the level where the price has peaked before retracting, indicating a level where selling pressure begins to outweigh buying pressure.

Conclusion and Consideration:
The H4 chart for GOLD shows a market experiencing volatility with a tendency towards bearish momentum as indicated by the MACD and the price position relative to the Ichimoku cloud. However, the recent bullish crossover in the Ichimoku indicator and the consolidation in price action suggest a cautious approach. Traders should stay alert for signs of a definitive trend and consider global economic indicators, central bank policies, and geopolitical developments that could impact gold prices. Proper risk management is essential given the unpredictability of gold markets.

Disclaimer: This analysis is intended for informational purposes only and should not be taken as investment advice. Trading decisions should be based on individual risk tolerance, market knowledge, and thorough analysis.

FxGlory
26.03.2024

CHFJPY analysis for 28.03.2024 (https://fxglory.com/2024/03/28/chfjpy-analysis-for-28-03-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The Swiss Franc (CHF) is often considered a 'safe-haven' currency and may appreciate during global economic uncertainty, while the Japanese Yen (JPY) is influenced by Japan's economic indicators and Bank of Japan's monetary policy. Factors such as Swiss National Bank's interest rate decisions, global risk sentiment, and economic data releases from both Switzerland and Japan can significantly impact the CHF/JPY pair. Japan's export data can particularly affect the JPY due to the country's export-driven economy. The ongoing global trade tensions and market volatility can also drive investor movement between these two currencies.

Price Action:
On the H4 chart of CHF/JPY, the price action indicates a downtrend, as evidenced by consistent lower highs and lower lows. The market has shown a bearish bias over the observed period, with the price moving below the Ichimoku cloud. The recent candles are forming near the lower boundary of the cloud, suggesting that the downtrend is still intact.

Key Technical Indicators:
chimoku Cloud: The price is below the cloud, and the cloud is bearish, indicating a strong downtrend. The future cloud appears to be bearish as well, suggesting the downtrend may continue.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line and the histogram bars are below the zero line, both of which support the bearish momentum in the market.
RSI (Relative Strength Index): The RSI is below 50, hovering around 40, which aligns with the bearish sentiment, indicating that the sellers are currently dominating but not yet in oversold territory.

Support and Resistance:
Support: The nearest support level can be identified around the recent lows at 167.315.
Resistance: The immediate resistance level is indicated by the lower boundary of the Ichimoku cloud, around 168.575, with the upper cloud boundary serving as a potential secondary resistance.

Conclusion and Consideration:
The technical analysis of the CHF/JPY on the H4 timeframe presents a bearish picture, with price action and key indicators like the Ichimoku Cloud, MACD, and RSI all pointing to a continuing downtrend. Traders should consider looking for bearish signals and confirmations such as a bounce off the cloud's lower boundary or a further decline in the MACD and RSI to initiate short positions. It's crucial to stay informed about key economic indicators from both countries as they can quickly alter market sentiment. Risk management is essential, and traders should consider setting stop losses above the Ichimoku cloud resistance to mitigate potential losses due to sudden trend reversals.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
28.03.2024

GBPNZD analysis for 29.03.2024 (https://fxglory.com/2024/03/29/gbpnzd-analysis-for-29-03-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBPNZD pair reflects the economic dynamics between the United Kingdom and New Zealand. Key factors influencing this currency pair include interest rate differentials between the Bank of England and the Reserve Bank of New Zealand, trade balance data, and geopolitical events affecting either economy. In addition, the impact of commodity prices, especially dairy products which are significant to New Zealand's exports, and post-Brexit trade policies of the UK, play vital roles in shaping the pair's fundamental outlook.

Price Action:
The H4 chart for GBPNZD shows a consistent uptrend, with the price sustaining above the key moving averages. The series of higher highs and higher lows suggests the presence of strong bullish momentum. The price has recently made a bullish breakout, signaling the potential for continued upward movement.

Key Technical Indicators:
Bollinger Bands: The price is trading near the upper Bollinger Band, indicating that the market is in a high volatility phase with potential resistance near the band's edge.
Ichimoku Cloud: Price candles are above the Ichimoku cloud, and the cloud is green, suggesting that the trend is bullish and the cloud is acting as a support zone.
RSI (Relative Strength Index): The RSI is above 60, signaling strong buying pressure, although approaching overbought territory could suggest a near-term pullback.
MACD (Moving Average Convergence Divergence): The MACD histogram is above the baseline and the MACD line is above the signal line, confirming the bullish momentum in the market.

Support and Resistance:
Support: Immediate support is found at the top boundary of the Ichimoku cloud, followed by the middle Bollinger Band.
Resistance: Resistance can be anticipated at the recent high, with further resistance potentially near the upper Bollinger Band.

Conclusion and Consideration:
The GBPNZD pair on the H4 chart suggests a strong bullish trend, backed by the indicators like the Bollinger Bands, Ichimoku, RSI, and MACD. The technical outlook is supported by a bullish price action pattern. Traders should consider the impact of upcoming economic releases and any changes in monetary policy from the respective central banks, which could affect this trend. As the price is near the upper Bollinger Band and RSI indicates overbought conditions may be near, careful risk management and readiness for potential pullbacks are essential.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
29.03.2024

GOLDEURO Analysis For 02.04.2024 (https://fxglory.com/2024/04/02/goldeuro-analysis-for-02-04-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Gold priced in euros reflects not only the inherent characteristics affecting gold's demand and supply but also the relative strength of the euro currency. Factors influencing gold include central bank policies, inflation rates, and economic uncertainty, which often boosts its appeal as a safe-haven asset. Conversely, the euro's value is impacted by the European Central Bank's interest rate decisions, economic data from the Eurozone, and geopolitical events within Europe. The ongoing economic recovery from global disruptions could impact gold as investors balance risk with the security of gold investment.

Price Action:
The H4 chart for GOLDEURO demonstrates a strong uptrend, with price action forming a consistent pattern of higher highs and higher lows. Recently, the market has moved upwards with increased momentum, indicating strong buyer interest. The price is maintaining well above the moving averages, suggesting a solid uptrend with potential for continuation.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI is above 70, indicating a strong buying momentum, although it also suggests caution as the market may soon enter overbought territory.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line and the histogram is positive, supporting the current bullish trend. However, the histogram bars appear to be shortening, which could indicate a slowdown in momentum.
Bollinger Bands: The price is trading near the upper Bollinger Band, showing that it is at the higher end of its current volatility range. The widening of the bands suggests increased market volatility.

Support and Resistance:
Support: The nearest level of support is likely the middle Bollinger Band, which aligns with a recent consolidation area.
Resistance: The immediate resistance is potentially the recent high, which could be at or near the upper Bollinger Band.

Conclusion and Consideration:
The GOLDEURO pair is in a strong uptrend on the H4 chart, as indicated by price action and the alignment of technical indicators. The RSI and position of the price relative to the Bollinger Bands call for vigilance for a potential retracement due to overbought conditions. Investors should monitor Eurozone economic indicators and any changes in market sentiment towards gold. As the price approaches potential resistance, incorporating risk management strategies is prudent. Any trading decision should consider both the technical posture and the broader fundamental economic context.

Disclaimer: This analysis is for informational purposes only and should not be considered investment advice. Traders should perform their own due diligence before engaging in any transactions.

FxGlory
02.04.2024

EURAUD analysis for 03.04.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EURAUD pair is influenced by various factors including economic indicators from the Eurozone and Australia, such as GDP growth rates, employment data, and inflation. Central bank policies, particularly from the European Central Bank (ECB) and the Reserve Bank of Australia (RBA), play significant roles. Trade balance reports and political stability within both regions also affect the pair. It's crucial to monitor these elements for a comprehensive understanding of the potential movement.

Price Action:
Examining the H4 timeframe for EURAUD, the pair seems to be experiencing some consolidation, indicated by the trading pattern within a confined range. The current price movement doesn't show a strong trend but rather indecision among traders.

Key Technical Indicators:

Ichimoku The price is currently interacting with the Ichimoku Cloud, which may act as support or resistance in the short term. The future cloud appears to be slightly bullish.

RSI: The RSI is hovering around the 50 mark, indicating a lack of clear momentum and a neutral market sentiment at this moment.

MACD: The MACD line is above the signal line but converging towards it, signaling weakening bullish momentum. The MACD line is close to the signal line, suggesting that the momentum is neither strongly bullish nor bearish. The histogram bars are short, indicating minimal momentum.

Support and Resistance:

Support: Looking at the Ichimoku setup, support may be forming at the baseline of the cloud.

Resistance: Resistance could be near the recent swing highs. If the price remains within the cloud, this could indicate a possible trend continuation or reversal.

Conclusion and Consideration:
The mixed signals from the Ichimoku Cloud, MACD, and RSI suggest a neutral to slightly bullish outlook for the EURAUD in the near term. Traders should watch for a definitive break above or below the cloud for clearer directional bias. Keeping an eye on fundamental news is crucial as it can swiftly change the sentiment and price direction.

Disclaimer: This analysis is for informational purposes only and should not be construed as investment advice. Each trader should conduct their own research and consider their risk tolerance before making any trading decisions.

FXGlory
03.04.2024

GBPCAD analysis for 04.04.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The GBPCAD pair reflects the economic interplay between the United Kingdom and Canada. Factors influencing the pair include differences in interest rates set by the Bank of England and the Bank of Canada, oil prices due to Canada's status as a major oil exporter, and political events such as Brexit negotiations. Economic data releases from both countries, such as employment reports, GDP growth rates, and trade balance data, also provide critical insight into the currency pair's movements.

Price Action:

The GBPCAD H4 chart displays a recent bearish trend with the price consistently closing below the moving averages, indicating a potential continuation of the downtrend. The series of lower highs and lower lows suggests that the bears are in control. Currently, the price seems to be in a slight retracement phase, possibly seeking equilibrium before the next move.

Key Technical Indicators:

Alligator: The Alligator lines are intertwined, indicating a phase of consolidation; however, the price staying below these lines could signal that the downtrend might resume.

MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, and the histogram bars are decreasing in height, which supports the bearish momentum.

RSI (Relative Strength Index): The RSI is positioned around the midpoint at approximately 53, which is neutral, suggesting neither overbought nor oversold conditions.

William's %R: The indicator is hovering around -23, which does not denote an extreme of market sentiment, aligning with the RSI's neutral stance.

Support and Resistance:

Support: The nearest support level is potentially around the recent swing low seen on the chart.

Resistance: Resistance can be identified at the recent swing high, where price reversed to continue the downtrend.

Conclusion and Consideration:

The GBPCAD pair, in the H4 timeframe, appears to be in a bearish trend with a short-term consolidation. The key technical indicators present a mixed sentiment with a slight bearish inclination. It’s important to monitor upcoming economic reports from both the UK and Canada that could inject volatility and potentially drive new trends. Traders should consider maintaining flexible strategies, incorporating stop losses, and adjusting to shifts in fundamental factors impacting this currency pair.

Disclaimer: This analysis is intended for informational purposes only and should not be construed as investment advice. Decisions should be made based on individual research and risk tolerance.

FxGlory
04.04.2024

GBPAUD analysis for 08.04.2024 (https://fxglory.com/2024/04/08/gbpaud-analysis-for-08-04-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/AUD currency pair reflects the dynamics between two major economies: the United Kingdom and Australia. Fundamental factors affecting GBP/AUD include interest rate differentials set by the Bank of England and the Reserve Bank of Australia, economic data releases from both countries, and global risk sentiment. The Australian dollar is often influenced by commodity prices, especially metal and mining exports, while the British pound is swayed by political developments, particularly those related to Brexit and trade agreements. Recent economic trends and policy decisions will play a crucial role in the upcoming trading sessions for this pair.

Price Action:
On the H4 chart for GBP/AUD, the pair has experienced a decline, evidenced by the formation of lower highs and lower lows. The price has recently made a corrective rally but remains under the influence of a broader bearish trend. The market is showing some hesitation, with the latest candles indicating indecision among traders.

Key Technical Indicators:

Alligator: The GBP/AUD is trading below the Alligator’s lines, indicating that the market is in a bearish phase.

MACD: The MACD histogram is below the zero line but showing a reduction in negative momentum as the histogram bars shorten, suggesting a possible slowdown in the bearish movement.

RSI: The RSI is near the 40 level, which could indicate that the market is neither oversold nor overbought, providing no strong directional bias at this time.

%R: The Williams Percent Range is hovering near the -65 mark, which tends to indicate a neutral to slightly bearish sentiment.

Support and Resistance:

Support: The nearest support level for GBP/AUD is the recent swing low on the H4 chart.

Resistance: The closest resistance is formed by the Alligator’s lines and the previous price consolidation area.

Conclusion and Consideration:
The GBP/AUD pair shows signs of a bearish trend in the short term on the H4 chart, with a slight pause in downward momentum as indicated by the MACD and indecisive recent price action. Traders should watch for either a continuation of the bearish trend or signs of a bullish reversal, which could be suggested by a breakout above the Alligator’s lines. Fundamental factors from both the UK and Australia, along with global commodity and risk sentiment, should be closely monitored as they could significantly impact the pair’s direction. Given the mixed signals from technical indicators, a cautious approach with diligent risk management would be prudent for traders considering positions in this market.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
08.04.2024

USDZAR analysis for 10.04.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The USD/ZAR pair reflects the economic dynamics between the United States and South Africa. Key fundamental factors that could influence USD/ZAR include interest rate decisions from the Federal Reserve and the South African Reserve Bank, economic data releases such as employment statistics, GDP growth, trade balances, and manufacturing data. The U.S. dollar is a primary reserve currency and is often influenced by global risk sentiment and international trade policies, while the South African rand is significantly impacted by domestic economic performances, political stability, and commodity exports, particularly precious metals.

Price Action:

The H4 chart for USD/ZAR indicates a volatile trend with recent bullish momentum, marked by higher highs and higher lows. The price action has breached the upper Bollinger band, which might signify potential overbought conditions or a strong uptrend continuation.

Key Technical Indicators:

Bollinger Bands: The price is currently above the upper Bollinger Band, which can sometimes indicate an overextended market. However, this can also signify a strong uptrend if the price remains persistently above the band.

MACD: The MACD histogram is above the baseline, with the signal line below the histogram, which supports the bullish momentum. The divergence of the lines suggests increasing bullish strength.

RSI: The RSI is above the 50 mark, leaning towards overbought territory, which suggests strong buying pressure. However, caution should be taken if it approaches the overbought threshold of 70.

Support and Resistance:

Support: The nearest support level for USD/ZAR on the H4 chart is at the lower Bollinger Band or the most recent swing low.

Resistance Should the bullish trend continue, the resistance may form at new highs, or profit-taking levels historically significant.

Conclusion and Consideration:
USD/ZAR shows signs of bullish continuation on the H4 chart, as suggested by the recent price action above the Bollinger Bands and the bullish MACD. Traders should monitor for potential overbought conditions given the RSI level. Any upcoming economic data from the U.S. or South Africa could further influence the pair’s direction. Given the bullish signals, traders may look for buying opportunities, keeping in mind the potential for pullbacks or corrections from overbought conditions. As always, traders should employ sound risk management strategies and consider the larger economic trends when making trading decisions.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
10.04.2024

BTCUSD analysis for 15.04.2024 (https://fxglory.com/2024/04/15/btcusd-analysis-for-15-04-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The BTCUSD pair's valuation can be influenced by various fundamental factors such as adoption rates, regulatory news, technological advancements within the blockchain ecosystem, and macroeconomic factors that affect the USD, including Federal Reserve policy changes and inflation data. Cryptocurrency markets are also sensitive to global economic sentiment, with Bitcoin often seen as a hedge against fiat currency inflation or as a risk asset in times of market stress. Additionally, Bitcoin's fixed supply cap and halving events play a crucial role in its long-term valuation prospects.

Price Action:

On the H4 timeframe for BTCUSD, the market exhibits a strong downtrend. The price has broken through previous support levels and is currently making new lows. The formation of consecutive bearish candles indicates a firm grip by sellers on market momentum. A lack of bullish presence suggests the trend may continue in the near term unless a significant change in market sentiment occurs.

Key Technical Indicators:

MACD: The MACD line is well below the signal line, and the histogram bars are increasing in height, reinforcing the bearish momentum in the market.

RSI: The RSI is firmly in the oversold territory, which may suggest either a potential for a price correction or a pause in the downtrend if the market deems Bitcoin oversold at these levels.

Bollinger Bands: The price is trading below the lower Bollinger Band, indicating an extension of the bearish trend, but also signaling a potential for mean reversion as prices have deviated significantly from the moving average.

Support and Resistance:

Support: The current level where the price seems to be consolidating, around $65264.84, may act as temporary support.

Resistance: Previous support around $69379.94, now potentially acting as resistance, could be the first barrier if a reversal or pullback occurs.

Conclusion and Consideration:

BTCUSD's H4 chart points to a prevailing bearish trend, underpinned by negative signals from the MACD and the continuation of trading below the Bollinger Bands. The RSI suggests a deeply oversold market, which could precede a rebound or consolidation in the short term. Traders should be cautious and consider current fundamental factors such as regulatory news or macroeconomic changes that could impact the market's direction. Proper risk management and watching for any signs of trend reversal or continuation are essential in these volatile market conditions.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
15.04.2024

EURAUD analysis for 16.04.2024 (https://fxglory.com/2024/04/16/euraud-analysis-for-16-04-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/AUD pair represents the currency exchange rate between the Eurozone and Australia. This pairing is largely influenced by contrasting economic health indicators and policy decisions made by the European Central Bank (ECB) and the Reserve Bank of Australia (RBA). The Euro is influenced by factors such as EU economic stability, monetary policy adjustments, and political events within member countries. Meanwhile, the Australian dollar is often swayed by commodity export prices, especially iron ore and coal, and shifts in global risk appetite. The Euro has been under scrutiny due to economic indicators suggesting a slowdown in some Eurozone economies, and the ECB's monetary policy stance will be key in determining its short- to medium-term strength. On the flip side, Australia's reliance on commodity exports to China makes it sensitive to changes in the Chinese economy and trade relations. In recent times, the Australian economy has shown resilience, but any changes in trade dynamics or commodity prices could quickly reflect on the AUD's strength. Traders should pay attention to the upcoming economic reports and policy announcements from both regions, as these will likely affect the EUR/AUD's movement.

Price Action:
On the H4 chart, the EUR/AUD has demonstrated a bullish trend, with the latest candles forming a series of higher highs and higher lows. The price is pushing against the upper Bollinger Band, suggesting an expansion in volatility and possible continuation of the bullish momentum. However, caution is warranted as the price nears the upper band, which could act as a resistance level.

Key Technical Indicators:
MACD: The MACD lines are above the zero line and have diverged, demonstrating strong bullish momentum as the market continues to push higher.
RSI: The Relative Strength Index (RSI) is above the 60 mark, which points to ongoing buying interest, but still below the overbought threshold of 70. This suggests there is room for further upward price movement before the market becomes overextended.
Bollinger Bands: The EUR/AUD price is currently trading near the upper Bollinger Band. If the price sustains above this level, it may signal the continuation of the bullish trend. A retreat from the band could mean a temporary pullback before the trend resumes.

Support and Resistance:
Support: Support levels for EUR/AUD are presently situated at the lower Bollinger Band, which also aligns with the previous swing lows. This could serve as a cushion for any retracements.
Resistance: On the resistance side, the upper Bollinger Band is the immediate hurdle, and a sustained break above this level could signal further bullish potential. The mid-band of the Bollinger Bands may act as a secondary level of support in case of a pullback.

Conclusion and Consideration:
While the EUR/AUD pair shows bullish signs on the technical front, it's important to factor in the fundamental elements that may influence price action. Traders should consider both sets of analysis when planning their trades, with a close eye on the identified support and resistance levels for potential entries and exits. Monitoring key economic indicators and policy decisions will be crucial in the coming days.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
16.04.2024

Gold Price Analysis for 17.4.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

Jobless report from the Department of Labor is to be published at April 18th and it is possible to highly effect gold prices. Basically, if the report shows fewer people are out of work than it was expected, it means the economy is probably doing alright, and the dollar could get stronger; and when the dollar bulks up, gold usually doesn't shine as much, and its price could take a hit. On the flip side, if the report isn't great and shows more people without jobs, it could mean trouble for the US economy, and the dollar might weaken. That's when gold could can start its next move, and we might see its price start to climb. Keep an eye on that report—it's going to be a strong trading signal for where gold heads next!

Price Action:

A technical analysis of the XAU/USD price action shows the commodity is approaching a significant resistance area between $2420 and $2460. This price level could serve as a turning point for the current bullish momentum. The candlestick formation on the H4 chart indicates that if the price fails to break through this resistance zone, a bearish wave may ensue, leading to potential target levels at $2280.00 and then $2196.50 .

Key Technical Indicators:

MACD: The Moving Average Convergence Divergence (MACD) is showing signs of a potential sharp bearish wave as it forms lower tops, showing potential finish to the current bullish momentum.

RSI: The Relative Strength Index (RSI) exhibits negative divergence, a bearish signal indicating that the upward price momentum is losing strength despite the increase in price.

Gold Bearish Signals:

There are a few bearish signals lining up for the gold market, hinting at a possible downturn. We're seeing gold approach a resistance level that it might struggle to break through. At the same time, the MACD chart is shaping up in a way that suggests a bearish trend might be on the horizon, and the RSI indicator is also hinting at a downward swing with its negative divergence. When you fold in the latest unemployment rate into this mix, it definitely adds an interesting angle to any gold price prediction. It looks like these technical signs, along with the fundamental economic data, are suggesting we keep our eyes peeled for a potential drop in gold prices.
While the market's focus is often on short-term fluctuations, the broader view of gold's fundamentals, coupled with technical analysis, provides insights for future gold price directions. The anticipation surrounding the unemployment rate forecast and its implications for monetary policy will be critical in shaping the long-term outlook for XAU/USD.

Conclusion:

Investors and traders considering the gold market must weigh both fundamental economic indicators and technical analysis. The impending unemployment report serves as a near-term catalyst that could influence investor sentiment and gold price trends. While technical indicators suggest the possibility of a bearish reversal, it's imperative to stay updated with the upcoming fundamental news to make informed trading decisions.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
17.04.2024

BTCUSD analysis for 18.04.2024 (https://fxglory.com/2024/04/18/gold-price-analysis-for-17-4-2024-cloned-23704/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

Bitcoin's valuation against the US Dollar is greatly influenced by a mix of market sentiment, technological developments, regulatory news, and macroeconomic trends. Global economic uncertainties and inflation rates are fundamental factors that can drive investors toward Bitcoin as a potential hedge. Additionally, changes in regulatory stances in key markets, such as recent legislation or enforcement actions, can significantly impact Bitcoin's price. The growing interest in decentralized finance (DeFi) and institutional investment in cryptocurrency also contribute to BTCUSD dynamics.

Price Action:

The H4 timeframe for BTCUSD shows a downtrend with the price moving below the Ichimoku cloud and key moving averages. The market has been forming lower highs and lower lows, which is indicative of a bearish sentiment in the short to medium term. There has been a slight recovery in the most recent price action, but the market remains under bearish pressure.

Key Technical Indicators:

Williams %R: The Williams Percentage is currently indicating oversold conditions, which could hint at a potential short-term reversal if buyers step in.

RSI (Relative Strength Index): The RSI is below the 50 threshold, which typically suggests bearish momentum, although it is not in the oversold territory, leaving room for potential downward movement.

Ichimoku Cloud: Price is trading below the Ichimoku cloud, indicating that the path of least resistance is to the downside and confirming the current bearish trend.

Support and Resistance:

Support: The nearest support is found at the recent low around $59,025, with a more substantial support zone near $58,000.

Resistance: Immediate resistance can be seen near the lower boundary of the Ichimoku cloud, followed by a stronger resistance at the $62,388 level, which aligns with the cloud's upper boundary.

Conclusion and Consideration:

The BTCUSD pair on the H4 chart is exhibiting bearish tendencies with the price action and technical indicators suggesting a continuation of the downtrend. The market could be ripe for a short-term bounce due to the oversold Williams %R indicator, but the overarching trend remains downward. It’s critical for traders to keep an eye on global economic indicators and crypto-specific news, which could abruptly influence the market. Implementing robust risk management strategies is vital, particularly given Bitcoin’s historical volatility.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
18.04.2024

BCHUSD analysis for 19.04.2024 (https://fxglory.com/2024/04/19/bchusd-analysis-for-19-04-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Bitcoin Cash (BCH) trades against the US Dollar in the BCHUSD pair. As a cryptocurrency, BCH is influenced by factors such as regulatory news, technological advancements, and the overall sentiment in the crypto market. Given that Bitcoin Cash is a fork of Bitcoin, its value can also be affected by the performance and changes in the larger Bitcoin ecosystem. Market liquidity and adoption rates of BCH for transactions and by exchanges play a crucial role as well.

Price Action:
On the H4 chart for BCHUSD, there is a clear bearish trend in progress with the price action creating lower highs and lower lows. Recently, the price has consolidated, forming a slight range as buyers and sellers negotiate the next move. This consolidation is within the context of the larger downtrend, indicating hesitancy among traders.

Key Technical Indicators:
Bollinger Bands: The price is currently near the middle Bollinger Band, showing a neutral position but within a downtrend context.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line and the histogram bars are on the downside, reinforcing the bearish momentum.
RSI (Relative Strength Index): The RSI is near the 40 mark, suggesting bearish momentum without being in the oversold territory, leaving room for further downward movement.

Support and Resistance:
Support: The nearest support level can be identified around the $460 price zone, where recent lows have formed.
Resistance: The first layer of resistance appears to be at the 0.618 Fibonacci retracement level, near $490, with further resistance possible at the upper Bollinger Band.

Conclusion and Consideration:
The BCHUSD pair is currently in a bearish phase on the H4 chart, with technical indicators supporting the continuation of this trend. However, there is potential for a short-term pullback, considering the market's attempt to stabilize recently. It's important for traders to watch for a decisive break out of the current range for direction, and keep an eye on broader market sentiment and news which can significantly impact cryptocurrencies like BCH. Proper risk management should be a priority due to the inherent volatility in the crypto market.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
19.04.2024

EURUSD analysis for 22.04.2024 (https://fxglory.com/2024/04/22/eurusd-analysis-for-22-04-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The EUR/USD currency pair is highly influenced by economic policies, interest rates, and economic data from both the Eurozone and the United States. With the European Central Bank's monetary policy decisions, including changes in interest rates or asset purchasing programs, traders should carefully consider their impact on the euro. Similarly, U.S. Federal Reserve policies, inflation reports, and employment data are critical for the USD's strength. Geopolitical tensions and trade relations between the U.S. and Europe can also sway the pair's direction. Current fiscal stimulus or austerity measures within the Eurozone may further affect the EUR/USD dynamics.

Price Action:

In the H4 timeframe, EUR/USD appears to be consolidating after a significant downtrend, forming a potential base for a reversal. The pair has been making a sequence of higher lows, which may indicate a gradual shift in market sentiment. The current price has bounced off the recent lows, suggesting a pause in the bearish momentum and a possible preparation for an upward move.

Key Technical Indicators:

Bollinger Bands: The price is trading near the middle Bollinger Band, indicating a neutral market. A breach above the upper band could signal increasing volatility and potential uptrend acceleration.

RSI (Relative Strength Index): With an RSI reading of around 53.17, there is neither overbought nor oversold pressure, suggesting balanced market conditions.

MACD (Moving Average Convergence Divergence): The MACD histogram is showing positive bars, and the MACD line is above the signal line, hinting at growing bullish momentum.

Support and Resistance:

Support: The recent low at around 1.06500 acts as the immediate support level, with further support potentially near the lower Bollinger Band.

Resistance: The immediate resistance can be found near the recent high around 1.06920, with additional resistance possibly at the upper Bollinger Band.

Conclusion and Consideration:

The EUR/USD on the H4 chart is showing signs of a consolidation phase with potential for a bullish reversal as indicated by the positive MACD. However, the market remains cautious, as reflected by the RSI. Traders might anticipate a breakout above immediate resistance for a stronger bullish confirmation. It is important to consider the ongoing and upcoming economic events in both the U.S. and Europe, as they can significantly influence the pair's movement. Risk management strategies should be in place to navigate the pair's volatility and potential reactions to economic data releases.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
22.04.2024

SILVER analysis for 23.04.2024 (https://fxglory.com/2024/04/23/silver-analysis-for-23-04-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Silver, as depicted by the SILVER/USD currency pair, is influenced by a spectrum of fundamental factors including industrial consumption, mining output, and economic indicators that drive the US Dollar, like interest rates and inflation figures. Silver's dual nature as an industrial metal and a monetary instrument means its demand could be shaped by technological advancements and economic trends. The metal's price is also sensitive to global political climate shifts and its correlation with other commodities, especially within the precious metals sector.

Price Action:
The H4 chart reveals that silver has been undergoing a strong bearish trend, evidenced by a consistent series of lower lows and lower highs. The recent price movement has breached past the lower Bollinger Band, indicating a strong downward push. However, this could also signify potential overselling, warranting caution for any continuation of the trend.

Key Technical Indicators:
Bollinger Bands: Price has broken below the lower Bollinger Band, suggesting an extension of the bearish move or a potential retracement if it is an oversold situation.
MACD: The MACD line remains below the signal line and continues to diverge negatively, which supports the bearish momentum observed in the price action.
RSI: The RSI is firmly in the oversold territory, signaling a significant bearish strength that might lead to a possible reversal if buyers step in.

Support and Resistance Levels:
Support: Immediate support is found at the recent low of the price action, with further support potentially near the 27.05 mark.
Resistance: The previous low around the 26.75 level may now act as resistance, with additional resistance likely at the midline of the Bollinger Bands.

Conclusion and Considerations:
In summary, SILVERUSD is exhibiting strong bearish momentum as indicated by the technical indicators and recent price action. While the oversold RSI suggests a potential pullback, the prevailing downward trend could persist if the bearish sentiment continues. Traders should consider the impact of macroeconomic factors and market sentiment on silver prices and employ prudent risk management strategies. Monitoring for any signs of a reversal or stabilization around key support levels would be crucial for traders looking to enter positions.

Disclaimer: This analysis is intended for informational purposes only and should not be construed as financial advice. It is important for individuals to perform their own due diligence before engaging in trading activities.

FxGlory
23.04.2024

Platinum analysis for 24.04.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

Platinum's price is largely influenced by supply-demand dynamics, industrial usage, especially in automotive catalytic converters, and investment demand. It's important to consider the industrial health and economic indicators such as automobile sales, manufacturing data, and investment trends which can drive platinum prices. Additionally, mining supply disruptions or changes in recycling volumes can impact the market significantly.

Price Action:

The platinum market on the H4 chart has been experiencing a downtrend, evidenced by the formation of lower highs and lower lows. Recently, there seems to be a slight bullish retracement, as the price has moved up from its latest low. This could suggest a temporary slowing down of the downward trend, possibly presenting a short-term buying opportunity.

Key Technical Indicators:

Bollinger Bands: Platinum's price is hovering around the lower Bollinger Band, which usually indicates an oversold condition or a strong downtrend. A push back towards the middle band could signal a temporary reversal or consolidation.

RSI (Relative Strength Index): The RSI is below the 50-level, indicating bearish momentum. However, it is not in the oversold territory, leaving room for further downward movement or a potential reversal if the market sentiment shifts.

MACD (Moving Average Convergence Divergence): The MACD line is below the signal line and the histogram shows an increase in negative momentum, reinforcing the current bearish trend.

Support and Resistance:

Support: The most recent low acts as the immediate support level. Should the price break below this level, it may find further support near previous lows not visible on the current chart frame.

Resistance: Immediate resistance may be encountered at the level where the retracement began. A more significant resistance level would be where the price intersects with the middle Bollinger Band.

Conclusion and Consideration:

The current technical outlook for platinum on the H4 chart suggests a continuation of the bearish trend with a minor retracement in the short term. Traders should monitor the RSI for signs of a reversal and the MACD for changes in momentum. It is crucial to keep abreast of industrial and economic developments that could affect platinum prices. Risk management remains essential due to the inherent volatility in the commodities market.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
24.04.2024

XRPUSD analysis for 25.04.2024 (https://fxglory.com/2024/04/25/xrpusd-analysis-for-25-04-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
XRP, often known as Ripple, is a cryptocurrency that operates on a digital payment platform known as Ripple Net, which is on top of a distributed ledger database called XRP Ledger. XRP's price can be influenced by regulatory news concerning cryptocurrencies, partnerships secured by Ripple with financial institutions, and the overall sentiment in the crypto market. Additionally, legal proceedings, such as the ongoing SEC lawsuit, can have a significant impact on XRP's price. Its utility in enabling rapid and cost-effective cross-border transactions makes it sensitive to changes in international remittance volumes and financial sector technology adoption.

Price Action:
The H4 chart for XRPUSD indicates a period of consolidation following a recent uptrend. Price action has seen the formation of smaller body candles with wicks on both sides, suggesting indecision in the market. The consolidation appears to be occurring around the 38.2% Fibonacci retracement level, acting as a potential pivot point for the next directional move.

Key Technical Indicators:
Bollinger Bands: The price is trending just above the middle Bollinger Band, suggesting a neutral to slight bullish bias in the short term.
RSI (Relative Strength Index): The RSI is around the 45 mark, which is neutral territory, suggesting no clear momentum to the upside or downside.
MACD (Moving Average Convergence Divergence): The MACD histogram is positive, but the MACD line is close to the signal line, indicating that bullish momentum is not strong.

Support and Resistance:
Support: The immediate support for XRPUSD is the 38.2% Fibonacci level, followed by the lower Bollinger Band and the 23.6% retracement level.
Resistance: On the upside, the 50% Fibonacci level acts as the first resistance, with further resistance possibly at the 61.8% level and the upper Bollinger Band.

Conclusion and Consideration:
The technical setup for XRPUSD on the H4 chart suggests a wait-and-see approach as the market digests its recent gains and decides on its next move. The near-term indicators lean slightly bullish but call for caution as they show no strong momentum. Given the current consolidation phase, a breakout above the 50% Fibonacci level could indicate the resumption of the uptrend, while a fall below the 38.2% level might hint at a deeper retracement. It is crucial to consider the impact of ongoing legal challenges and macroeconomic factors influencing the cryptocurrency market when making trading decisions.

Disclaimer: The analysis provided is for informational purposes only and should not be considered as investment advice. Market participants should conduct their independent research and exercise caution when trading in volatile markets.

FxGlory
25.04.2024

Quote from: FXGlory Ltd on April 25, 2024, 02:41:30 AM

Great analysis! Really appreciate the detailed breakdown of XRPUSD's current situation. Your insights provide valuable guidance for navigating the cryptocurrency market. Keep up the fantastic work!

GBPNZD analysis for 26.04.2024 (https://fxglory.com/2024/04/26/gbpnzd-analysis-for-26-04-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBPNZD pair reflects the economic dynamics between the UK and New Zealand. Factors such as interest rate differentials, economic releases from both nations, and global risk sentiment significantly influence this pair. The UK’s economic health can be assessed by indicators like GDP, employment data, and Brexit developments, while New Zealand’s dairy exports and tourism sector are critical to its currency's strength. Trade relations and commodity price fluctuations also play pivotal roles in the direction of this pair.

Price Action:
On the H4 chart, GBPNZD has shown volatility with a mix of bullish and bearish candlesticks. Recently, there has been a slight bearish movement, indicated by the presence of long upper wicks, suggesting rejection at higher levels. The price has fluctuated around the Ichimoku cloud, indicating uncertainty and a potential transition phase.

Key Technical Indicators:
Ichimoku: Price is interacting with the Ichimoku Cloud, which suggests indecision in the market. The cloud ahead appears to be turning bullish, potentially forecasting an upcoming positive trend.
MACD: The MACD histogram shows weak momentum as it hovers around the baseline, with the MACD line slightly above the signal line, indicating a weak bullish momentum.
RSI: The RSI is near the 50-level, which is neutral territory, suggesting a balance between buyers and sellers without clear dominance from either side.

Support and Resistance:
Support: The nearest support is observed around the lower boundary of the Ichimoku Cloud.
Resistance: Immediate resistance can be identified at the recent highs just above the cloud.

Conclusion and Consideration:
The GBPNZD pair is currently exhibiting signs of indecision. The mixed signals from the technical indicators suggest traders should proceed with caution. Considering the fundamental backdrop, traders should stay attuned to economic releases and policy decisions from the UK and New Zealand. Risk management is crucial, as the market could pivot in either direction. A break above the Ichimoku cloud could signal bullish momentum, while a drop below could indicate bearish pressure.

Disclaimer: The analysis provided is for informational purposes only and should not be construed as investment advice. Always perform your own due diligence before making trading decisions.

FxGlory
26.04.2024

BTCUSD analysis for 29.04.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

Bitcoin, traded against the US Dollar as BTC/USD, is influenced by a myriad of fundamental factors, including regulatory news, adoption by institutional investors, and broader economic indicators that affect cryptocurrency market sentiment. Technological advancements and network upgrades, such as improvements in blockchain scalability and security, can also affect Bitcoin's value. Macroeconomic uncertainty, like inflation or currency devaluation, often increases interest in Bitcoin as a potential hedge. Given its status as a leading digital asset, global cryptocurrency regulatory discussions and decisions can greatly impact Bitcoin’s price movements.

Price Action:

The H4 chart shows BTC/USD experiencing a period of consolidation with some bearish momentum, as evidenced by the latest red candlestick breaking below prior green candlesticks. The market seems to be attempting a recovery after a significant pullback, forming a potential base for the next directional move. The recent price movement has been constrained within a tight range, signaling indecision among traders.

Key Technical Indicators:

Bollinger Bands: The price is currently near the lower Bollinger Band, suggesting that the market could be in an oversold state, which sometimes precedes a potential upward price correction.

MACD (Moving Average Convergence Divergence): The MACD histogram is below the baseline and the MACD line is below the signal line, indicating bearish momentum in the short term.

RSI (Relative Strength Index): The RSI is near 40, suggesting bearish momentum without being in the oversold territory, implying there may be room for further downside before a potential reversal.

StDev (Standard Deviation): The increasing standard deviation indicates rising market volatility, suggesting a less stable price environment which may lead to significant price swings.

Support and Resistance:

Support: The recent low around the $63,000 area is acting as the nearest support level. A breach below could lead to further declines, with subsequent support potentially at lower Fibonacci retracement levels.

Resistance: Immediate resistance is observed at around $65,500, with stronger resistance near the $66,500 zone. The upper Bollinger Band may also act as dynamic resistance in the case of a price rally.

Conclusion and Consideration:

BTC/USD on the H4 timeframe is showing signs of bearish momentum, with technical indicators suggesting that the bearish trend could persist in the short term. However, proximity to the lower Bollinger Band could indicate a potential reversal if support holds firm. Traders should keep an eye on fundamental factors such as regulatory news and economic indicators that could impact investor sentiment. Given the current volatility, as indicated by the StDev, maintaining strict risk management strategies and looking for confirmatory signals on both the charts and fundamental news before entering trades is advisable.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
29.04.2024

EURAUD analysis for 30.04.2024 (https://fxglory.com/2024/04/30/euraud-analysis-for-30-04-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/AUD pair is greatly influenced by the economic health and monetary policies of the Eurozone and Australia. Interest rate differentials, economic growth disparity, and global risk sentiment are key drivers. Europe's energy situation and Australia's export performance, particularly in minerals and resources, provide additional context. The Euro might be pressured by internal political dynamics, while the Australian Dollar might react to commodity cycles and trade relationships, especially with China.

Price Action:
The downtrend indicated in the H4 chart has shown signs of a potential pause or reversal, with the last candle closing positively and the ongoing candle showing a sharp rise. This could indicate buying pressure entering the market, suggesting a bullish retracement or even a reversal if further bullish candles follow.

Key Technical Indicators:
Ichimoku Cloud: Price below the cloud suggests a bearish trend; however, a short-term bullish signal might be emerging if price breaks above the cloud.
MACD: Current positioning below the signal line points to bearish momentum, but convergence towards the signal line could indicate weakening bearish momentum.
RSI: Slightly below the mid-point at 44.81, suggesting neither overbought nor oversold conditions, aligning with a potential turning point in market sentiment.
Standard Deviation (StdDev): Low StdDev points to a consolidating market, which could precede a breakout.

Support and Resistance:
Support: The chart suggests 1.6375 as a recent support level where the price has shown some rebound.
Resistance: Resistance is anticipated around 1.6450, indicated by recent price peaks and the Ichimoku cloud's lower boundary.

Conclusion and Consideration:
The EUR/AUD pair, in the current H4 timeframe, suggests a bearish trend with potential early signs of a bullish correction. The recent positive closure of a candle and an ongoing sharp rise could provide opportunities for a bullish entry with caution. Traders should closely monitor upcoming fundamental data releases affecting both the Euro and the Australian Dollar. It is essential to apply prudent risk management, considering the volatility inherent in the forex market.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should perform their own due diligence before making any investment decisions. own research and analysis before making any trading decisions.

FxGlory
30.04.2024

USCAD analysis for 01.05.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The USD/CAD pair reflects the economic interplay between the United States and Canada, with factors like oil prices, trade policies, and relative economic performance playing significant roles. The strength of the US dollar is influenced by America's economic indicators, Federal Reserve policies, and global market sentiment. Conversely, the Canadian dollar often reacts to shifts in commodity prices, especially crude oil, given Canada's status as a major exporter. Additionally, economic data releases from both countries, such as employment statistics and GDP reports, provide critical context for currency valuation.

Price Action:

The recent price action on the USD/CAD H4 chart shows a pronounced upward movement, breaking past previous resistance levels. This rally indicates a strong bullish sentiment, potentially driven by favorable economic data or shifts in risk appetite. The price has just breached the Ichimoku Cloud, suggesting a shift from a bearish to a bullish market environment.

Key Technical Indicators:

Ichimoku Cloud: The price moving above the Ichimoku Cloud indicates a potential change in trend from bearish to bullish.

RSI: The Relative Strength Index is approaching 70, pointing towards increasing bullish momentum, though nearing overbought conditions which could suggest a future pullback or consolidation.

Volume: There is noticeable increase in trading volume accompanying the price rise, supporting the strength of the current move.

Support and Resistance:

Support: The key support level now sits at the top boundary of the Ichimoku Cloud, around 1.3720, which could serve as a new baseline for the currency pair.

Resistance: The next major resistance level is near the recent high around 1.3785, which might challenge further upward movements.

Conclusion and Consideration:

The USD/CAD pair, in the current H4 timeframe, exhibits a bullish trend with strong upward momentum as indicated by the breakout above the Ichimoku Cloud and supported by robust volume. Traders should consider the potential for overbought conditions as indicated by the RSI and prepare for possible resistance at higher levels. Monitoring upcoming economic releases from both the U.S. and Canada will be crucial in maintaining an informed trading strategy. Effective risk management remains essential, given the inherent volatility in the forex market.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should perform their own due diligence before making any investment decisions. own research and analysis before making any trading decisions.

FxGlory
01.05.2024

USDCAD analysis for 02.05.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The USD/CAD currency pair, often referred to as the "Loonie," mirrors the exchange rate between the U.S. Dollar and the Canadian Dollar. Key economic factors include oil prices due to Canada's substantial crude exports, interest rate differentials set by the Federal Reserve and the Bank of Canada, and trade balance data between the U.S. and Canada. Additionally, geopolitical events and market sentiment towards the U.S. dollar globally play essential roles in influencing this pair. Recent data suggest a mixed economic outlook for both countries, potentially leading to heightened volatility in the USD/CAD exchange rate.

Price Action:

The H4 timeframe exhibits a recent pullback in the USD/CAD pair after a significant uptrend. The pair has formed consecutive bearish candles, suggesting a possible corrective phase or even a trend reversal. Despite this, the price remains within the Ichimoku cloud, indicating uncertainty in the current trend with a potential for range-bound movement until a clearer signal emerges.

Key Technical Indicators:

Ichimoku Cloud: The pair is trading within the Ichimoku Cloud, suggesting a lack of clear trend direction in the near term. The cloud acts as a support area currently but is becoming thinner, indicating potential volatility ahead.

MACD (Moving Average Convergence Divergence): The MACD histogram is trending below the signal line, demonstrating bearish momentum, but the lines are close to zero, suggesting weak momentum overall.

RSI (Relative Strength Index): RSI is near the 50 mark, which indicates a neutral momentum state and supports the idea of an indecisive market at the moment.

Standard Deviation (StdDev): A low standard deviation points to a period of low volatility, which typically suggests a consolidation phase after the recent price movements.

Support and Resistance:

Support: The initial support is around 1.3680, marking the recent lows.

Resistance: Resistance can be seen near 1.3740, aligning with the upper edge of the Ichimoku cloud and recent high points.

Conclusion and Consideration:

The USD/CAD in the H4 chart currently exhibits a period of consolidation within the Ichimoku cloud, coupled with bearish signals from the MACD and neutral RSI readings, suggesting a cautious approach. Traders should keep an eye on oil price fluctuations and upcoming economic announcements from both the U.S. and Canada, which could drive the next significant move in this pair. Market participants should prepare for possible breakouts or continuations of the trend depending on external economic influences and technical confirmations.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
02.05.2024

EURJPY Technical Analysis for 06.05.2024 (https://fxglory.com/2024/05/06/eurjpy-technical-analysis-for-06-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The EUR/JPY exchange rate analysis reflects interactions between the Euro and the Japanese Yen, influenced by economic, political, and geopolitical events within Europe and Japan. Upcoming economic releases like Spanish Unemployment Change, French and German Services PMIs, and German Trade Balance are poised to impact the Euro. These indicators, coupled with speeches from European central bank officials, could sway EUR/JPY dynamics, particularly through shifts in investor sentiment and intra-day trading volatility.

Price Action:

The recent trading sessions on the H4 chart show a pullback with the last three candles closing higher, suggesting a potential recovery or a short-term bullish reversal in EUR/JPY. The current candle formation indicates a continuation of this trend with a slight uptick in buying pressure, possibly challenging the upper levels of recent trading ranges.

Key Technical Indicators:

Ichimoku Cloud: The price is below a thickening cloud, indicating potential resistance overhead. This suggests a bearish sentiment in the medium term.

MACD: The MACD line has crossed below the signal line but shows signs of curling upwards, hinting at a possible regain in upward momentum.

RSI (14): The RSI is at 45, reflecting neither overbought nor oversold conditions but indicates the potential for price recovery following recent declines.

Standard Deviation (20): Currently at 1.5811, suggesting moderate market volatility and some degree of price instability.

Support and Resistance:

Support: The recent lows around 164.480 provide a short-term support level.

Resistance: The recent high near 168.290 and the lower boundary of the Ichimoku cloud serve as resistance levels.

Conclusion and Consideration:

The EUR/JPY technical analysis chart currently displays potential for a short-term bullish recovery within a broader bearish context. The upcoming European economic news could introduce volatility, influencing the pair's short-term trajectory. Traders should monitor these releases closely, as positive news may strengthen the Euro, testing resistance levels, while negative news could reinforce the bearish trend. Risk management and vigilant monitoring of economic indicators are advisable.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
06.05.2024

EURCHF Technical Analysis for 07.05.2024 (https://fxglory.com/2024/05/07/eurchf-technical-analysis-for-07-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Recent economic data releases across Europe provide a mixed yet cautiously optimistic outlook for the Euro, influencing the EUR/CHF exchange rate. The performance in service sectors across major European economies has generally exceeded expectations:
Spanish Services PMI reported at 56.2, slightly above the forecast and previous figures, suggesting robustness in Spain's service sector.
Italian Services PMI showed a minor dip to 54.3 from 54.6, indicating a slight contraction but still reflecting overall sectoral strength.
French Final Services PMI marked a significant improvement to 51.3 against a forecast of 50.5, pointing to expansion contrary to expectations.
German Final Services PMI and the overall Eurozone Final Services PMI both posted solid figures, indicating ongoing resilience in the services sector despite broader economic challenges.
Additionally, the Sentix Investor Confidence index improved to -3.6, better than both the previous -5.9 and the expected -4.8, suggesting a recovery in investor sentiment within the Eurozone.

Price Action:
The EUR/CHF pair has responded to these economic indicators with a notable trend on the H4 chart. After a recent pullback to the 38.2% Fibonacci retracement level, the pair is potentially setting up for a bullish reversal. This technical posture is supported by the RSI which remains neutral, hinting at neither overbought nor oversold conditions, thus supporting a potential for price recovery.
The combination of stronger-than-expected service sector performance and improving investor confidence could underpin the Euro's strength against the Swiss Franc. Technically, the EUR/CHF pair seems primed for a bullish movement, suggesting an opportune moment for traders to consider long positions, especially as the market sentiment aligns with these fundamental improvements on EURCHF forex pair.

Key Technical Indicators:
RSI Indicator: The Relative Strength Index is currently stabilizing around the mid-line, suggesting balanced market conditions without overt signals of overbought or oversold states. This stabilization is particularly noteworthy after the price touched the Fibonacci retracement, indicating that the pullback may have provided sufficient consolidation for a new bullish momentum.
Fibonacci Retracement: The 38.2% level has served as a strong support, bouncing the price into what could be an early phase of a bullish trend. The adherence to this Fibonacci level enhances the reliability of the bullish outlook in the near term.

Support and Resistance:
Support: The recent lows around 0.97270 provide a short-term support level.
Resistance: The recent high near 0.97900 and 0.98228 serve as resistance levels.

Conclusion and Consideration:
Given the current technical setup, the EUR/CHF is poised for potential upward movement, affirming the forex live analysis and bullish trend forecast. Traders should consider the strength at the 38.2% Fibonacci level as a solid basis for potential entries, with expectations of upward momentum as market conditions align with technical indicators. As always, it's advisable to employ prudent risk management strategies, keeping an eye on any shifts in market sentiment or unexpected geopolitical events that could influence forex dynamics.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
07.05.2024

USD/CAD Technical Analysis for 08.05.2024 (https://fxglory.com/2024/05/08/usd-cad-technical-analysis-for-08-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

Recent economic news releases from Canada and the United States are set to significantly influence the USD/CAD exchange rate. Here's a brief on the upcoming economic indicators:
Canadian Employment Change: Expected to show a rise of 20.9K, a significant recovery from the previous -2.2K, suggesting an improving labor market in Canada.
Canadian Unemployment Rate: Forecast to slightly increase to 6.2% from 6.1%, indicating minor fluctuations in the job market.
U.S. Unemployment Claims: Projected at 212K, up from 208K, which could reflect slight volatility in the U.S. job sector.
U.S. Prelim UoM Consumer Sentiment: Expected to decrease to 76.3 from 77.2, possibly hinting at a dip in consumer confidence.

Price Action:

The USD/CAD pair is currently reacting to a dynamic support indicated by the descending red line on the chart, marking a critical support area that could signal a pivotal point for the currency pair’s future movements. This juncture is crucial for investors monitoring the US Dollar price forecast against the Canadian Dollar, as it offers insights for potential USD/CAD investment strategies and short trading opportunities. Given the technical indicators, including the positioning of the RSI and MACD, this moment could lead to significant shifts in USD/CAD investment analysis outcomes. Investors should keep a close eye on this development, as it might dictate the immediate directional trends and offer short-term trading opportunities in the forex market.

Key Technical Indicators:

RSI Indicator: Positioned on a static resistance line, suggesting potential pressure but still under the overbought threshold, hinting that there might be room for upward movement if fundamental data supports it.

MACD Indicator: Showing bearish potential as the MACD line is trending downwards, which could indicate upcoming selling pressure or a continuation of the current downtrend.

Support and Resistance:

Support: The recent lows around 1.37000 provide a short-term support level.

Resistance: The recent high near 1.37810 and 1.38355 serve as resistance levels.

Conclusion and Consideration:

Given the proximity to critical support and impending economic data releases, the USD/CAD pair is at a juncture that could lead to significant volatility. Traders should watch the interaction between the price and the descending resistance, as a break above could suggest bullish potential, particularly if Canadian data underperforms or U.S. data shows unexpected strength.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
08.05.2024

GBP/NZD Technical Analysis for 09.05.2024

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The GBP/NZD analysis reflects the dynamic between the British Pound and the New Zealand Dollar. Today, key economic indicators such as the Official Bank Rate and speeches by BOE Governor Bailey may significantly influence GBP. The Bank Rate has aligned with forecasts in recent months, stabilizing expectations, but any deviation today could sway GBP value. The MPC's unanimous vote projection suggests a more hawkish monetary policy stance, which traditionally strengthens the currency.

Price Action Analysis:

In the H4 timeframe, the GBP/NZD price action analysis shows a volatile trend with recent bullish momentum. The formation of a series of higher lows over the past sessions suggests an upward corrective movement within a broader bearish context. The price is currently testing a key resistance level, and the reaction here will indicate whether the bullish sentiment can sustain.

Key Technical Indicators:

Ichimoku Cloud: The price is approaching the lower boundary of the Ichimoku cloud, indicating potential resistance. If the price breaks through, it may signal a stronger bullish trend reversal.

MACD (Moving Average Convergence Divergence): The MACD line is above the signal line but still below zero, indicating improving bullish momentum yet within an overall bearish trend.

RSI (Relative Strength Index): The RSI is above 50, suggesting increased buying momentum, but is not yet indicating overbought conditions, allowing room for further upside.

Fibonacci Retracement: Key Fibonacci levels from recent highs to lows show the price nearing the 61.8% retracement level, which may act as significant resistance.

Support and Resistance:

Support: The recent swing low around 1.9280 serves as the primary support level.

Resistance: Immediate resistance is found near the 61.8% Fibonacci retracement level at 1.9500.

Conclusion and Consideration:

The GBPNZD analysis is currently experiencing a bullish correction within a larger bearish trend on the H4 chart. The upcoming economic announcements and BOE Governor Bailey's speech could heavily impact GBP strength. Traders should monitor these events closely, as any hawkish surprise could reinforce the bullish trend. However, the presence near significant resistance levels suggests caution, with potential reversal risks if the bullish momentum cannot sustain.

Disclaimer: The provided GBPNZD chart forecast is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
09.05.2024

EUR/USD technical analysis for 10.05.2024 (https://fxglory.com/2024/05/10/eur-usd-technical-analysis-for-10-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR USD pair forecast is poised for potential volatility with upcoming economic releases. The Italian Industrial Production month-over-month, expected at 0.3%, could strengthen the EUR if results exceed forecasts, signaling economic robustness. Conversely, the ECB Monetary Policy Meeting Accounts will provide deeper insights into the eurozone's economic conditions and future monetary policy, where a more hawkish stance is typically supportive of the EUR. On the USD front, multiple key events, including speeches from FOMC members and the Preliminary University of Michigan Consumer Sentiment Index, are due. Notably, a higher consumer sentiment than forecasted could bolster the USD by reflecting stronger consumer confidence, potentially influencing Federal Reserve policies.

Price Action:
EUR USD chart analysis has displayed a consolidation pattern in the H4 chart, indicating uncertainty as traders await key economic news. Recent sessions show a slight bullish sentiment as the pair attempts to recover from previous lows.

Key Technical Indicators:
Fibonacci: The retracement levels from the recent high to low provide potential resistance and support zones, critical for identifying reversal points.
MACD (Moving Average Convergence Divergence): Currently below the signal line, suggesting bearish momentum in the short term. However, traders should watch for any crossover above the signal line as a potential bullish indicator.
RSI (Relative Strength Index): Positioned around the mid-50s, indicating neither overbought nor oversold conditions, reflecting a balance in market sentiment.

Support and Resistance Levels:
Support: The pair finds initial support at the 1.0800 level, which has historically acted as a psychological and technical floor, preventing further declines in previous trading sessions.
Resistance: On the upside, the 1.0950 mark serves as a key resistance level, representing a previous high that the forex EURUSD chart struggled to surpass, making it a critical point for traders to watch for potential reversals or breakthroughs.

Conclusion and Consideration:
The EUR/USD analysis on the H4 chart suggests cautious trading in the short term, with key economic releases likely to drive significant price action. Traders should monitor the upcoming economic indicators and central bank communications closely, as these will provide further clues about the strength and direction of the respective currencies. Given the balanced RSI and the bearish hint from the MACD, any strategic positions should be accompanied by tight risk management to navigate the potential market volatility effectively.

FxGlory
10.05.2024

Quote from: FXGlory Ltd on May 10, 2024, 03:07:42 AM

Thank you for sharing such a comprehensive analysis! Your breakdown of both fundamental factors and technical indicators provides valuable insights for traders navigating the EUR/USD pair. Your attention to detail and clear explanation make it easier for traders to assess potential trading opportunities and manage risk effectively. Grateful for your contribution to the trading community!

USDCHF Daily Chart Analysis for 13.05.2024 (https://fxglory.com/2024/05/13/usdchf-daily-chart-analysis-for-13-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
For USD/CHF forecast today, upcoming economic events for both the U.S. and Switzerland could impact the currency pair significantly. In Switzerland, the SECO Consumer Climate index and the SNB Chairman's speech may provide insights into the economic sentiments and monetary policy expectations, respectively. A more hawkish stance from the SNB could strengthen the CHF. In the U.S., speeches by FOMC members, including Governors Jefferson and Mester, will be closely watched for hints on future monetary policies. Additionally, U.S. mortgage delinquencies data, though a lagging indicator, could influence market sentiment regarding the health of the housing market and, by extension, broader economic conditions.

Price Action:
The USD/CHF analysis has shown a clear downtrend on the H4 timeframe, marked by consecutive lower highs and lower lows within a declining channel. Recently, there's a consolidation phase noticeable as the price moves closer to the lower boundary of the Bollinger Bands, indicating potential for either a continuation of the trend or a temporary reversal if support levels hold.

Key Technical Indicators:
Bollinger Bands: The bands are currently narrow compared to last week, suggesting reduced volatility. The price trading near the lower band hints at a potential oversold condition which might precede a price rebound or stabilization.
MACD (Moving Average Convergence Divergence): The MACD shows a continuation below the signal line and near zero, indicating weak upward momentum and prevailing bearish sentiment.
RSI (Relative Strength Index): The RSI is currently around 44, suggesting slight bearish momentum without entering the oversold territory, which supports the downtrend but also indicates caution for potential reversal signals.

Support and Resistance Levels:
Support: The first level of support can be found at the recent low around 0.90550, which if breached could see further decline towards 0.90000.
Resistance: Immediate resistance is observed at around 0.90850, which aligns with recent minor peaks. A more significant resistance level is at 0.91350, marked by the convergence of the 23.6% Fibonacci retracement and a previous support level.

Conclusion and Consideration:
The USD CHF analysis today is currently in a bearish trend with potential for further declines as indicated by key technical indicators and the current economic sentiment. However, the upcoming economic speeches and indicators from both the U.S. and Switzerland should be closely monitored as they may induce volatility and potentially shift market dynamics. Traders should maintain a cautious approach, monitoring for any signs of reversal or stronger bearish continuation, especially around key support and resistance levels. It's crucial to adjust strategies based on both technical setups and fundamental news flows.

Disclaimer: The USD/CHF provided price action and technical analysis today is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
13.05.2024

USD/CAD Technical Analysis for 14.05.2024 (https://fxglory.com/2024/05/14/usd-cad-technical-analysis-for-14-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDCAD pair could experience volatility due to a mix of upcoming economic data and news from both the US and Canada. For Canada, the Wholesale Sales report might slightly impact the CAD if results are better than expected, hinting at potential consumer spending increases. On the US side, high-impact news like the Core PPI and speeches from Fed Chair Jerome Powell could significantly sway the USD. A hawkish stance from Powell or higher than forecasted PPI could strengthen the USD, affecting the pair.

Price Action:
The usd/cad trend has shown a slight bearish movement in the latest candle within a generally mixed live trend over the past sessions. While there have been several green, bullish candles within the Bollinger Bands' lower half, the most recent candle is bearish, indicating potential uncertainty or a shift in market sentiment.

Key Technical Indicators:
Bollinger Bands: The price has lingered in the lower half of the Bollinger Bands, suggesting bearish pressure, although the recent green candles indicate some buying interest.
MACD: The MACD line is below the signal line, signaling bearish momentum, although the histogram shows minimal divergence, suggesting the momentum might not be very strong.
RSI:The RSI is hovering around 45, which is slightly below neutral, indicating a bearish bias but no extreme oversold conditions that might suggest an imminent reversal.

Support and Resistance Levels:
Support: The lowest points of the recent candles around 1.3630 serve as the immediate support level.
Resistance: The upper line of the Bollinger Band and recent peaks around 1.3720 act as resistance levels.

Conclusion and Consideration:
Given the current technical setup and upcoming fundamental events, traders should monitor the USDCAD daily chart closely. The bearish signals from MACD and the position within the Bollinger Bands suggest potential further downside, but upcoming economic reports could drive volatility and directional changes. Risk management and staying updated on the economic news are advisable for trading in such conditions.

Disclaimer: The provided technical and fundamental analysis and insight is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
14.05.2024

GBPUSD Price Analysis for 15.5.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The recent news includes key economic indicators from both the UK and the US that could significantly affect the GBP/USD exchange rate. The US economic data analysis shows mixed signals with a steady Consumer Price Index (CPI) but a decline in the Empire State Manufacturing Index, suggesting potential vulnerabilities in the manufacturing sector. On the other hand, the UK data presents a stable unemployment rate with a slight increase in the Claimant Count. These economic indicators are essential to watch, as they provide insights into the economic health of both countries, influencing currency strength.

Price Action:

The GBP/USD chart currently shows that the price has rebounded to test a former support level at around 1.26000, which is now acting as resistance. The failure to break above this resistance level could lead to a bearish reversal. The price movement suggests a critical juncture where the pair might start a downward trend if the resistance holds firm.

Key Technical Indicators:

MACD: MACD The Moving Average Convergence Divergence (MACD) is showing a lack of momentum with the histogram tightening and the MACD line flattening, which could indicate a potential shift in GBPUSD current trend.

RSI: The RSI is hovering around 45, which is slightly below neutral, indicating a bearish bias but no extreme oversold conditions that might suggest an imminent reversal.

Support and Resistance Levels:

Support: The lowest points of the recent candles around 1.3630 serve as the immediate support level.

Resistance: The upper line of the Bollinger Band and recent peaks around 1.3720 act as resistance levels.

Conclusion:

Traders should closely monitor both the upcoming economic news and the GBPUSD reaction at the 1.26000 resistance level. A failure to break through could confirm the bearish price prediction, leading to potential short opportunities. Conversely, a strong push above this level could invalidate the bearish scenario for this pair. Given these dynamics, it's essential to stay updated with the latest economic reports and adjust strategies accordingly to navigate the volatile forex market effectively.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
15.05.2024

USD/JPY daily chart analysis for 16.05.2024 (https://fxglory.com/2024/05/16/usdjpy-daily-chart-analysis-for-16-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The USD-JPY chart analysis is influenced by economic indicators from both the U.S. and Japan. Recent Japanese economic data shows a contraction in GDP with the Preliminary GDP q/q at -0.5% versus the forecast of -0.3%. This indicates weaker economic activity, which generally weakens the JPY. Additionally, the GDP Price Index came in higher than expected at 3.6%, suggesting rising inflation which can pressure the Bank of Japan to adjust monetary policy. The Revised Industrial Production m/m came in below expectations, signaling weaker industrial output, which further weighs on the JPY.
In the U.S., high-impact news includes Jobless Claims with a forecast of 219k. A lower-than-expected figure would be positive for the USD as it indicates a stronger labor market. Additionally, the Building Permits and Philly Fed Manufacturing Index, both of medium impact, will provide insights into the housing market and manufacturing sector's health. The Industrial Production m/m data will also be crucial as it indicates the overall industrial output, and a figure higher than the forecast of 0.1% could further strengthen the USD. Positive economic indicators from the U.S. could support the USD, especially against the backdrop of weaker Japanese data.

Price Action:

On the H4 timeframe, the USD/JPY analysis shows a marked downtrend characterized by successive lower highs and lower lows. Recently, there has been a slight recovery with the formation of a bullish candle, suggesting a possible retracement or reversal in the short term. However, the broader trend remains downward as indicated by the overall movement and the positioning of the latest price below previous resistance levels.

Key Technical Indicators:

Bollinger Bands: The bands have been widening recently, indicating increasing volatility. The price is currently near the lower band, which could suggest a potential rebound or consolidation at this level.

MACD: The MACD line is below the signal line and close to the zero line, signaling bearish momentum. However, the histogram shows a slight decrease in bearish momentum, which may suggest a possible slowdown in the downtrend.

RSI: The RSI is at 31.50 and moving upwards, indicating that the pair is close to oversold territory. This upward movement can signal a potential reversal or at least a pause in the current downtrend.

Support and Resistance:

Support: Immediate support is around 153.760, with stronger support at 151.615, which aligns with recent lows.

Resistance: Initial resistance is around 154.475, with more significant resistance at 155.905, near the mid-range of the Bollinger Bands and the 50% Fibonacci retracement level.

Conclusion and Consideration:

The USD/JPY daily chart analysis is currently in a bearish trend on the H4 chart, with indicators showing potential for short-term support or a minor rebound. The fundamental usdjpy outlook favors the USD due to weaker Japanese economic data and potential positive U.S. economic reports. Traders should monitor key support and resistance levels closely, along with upcoming U.S. economic data releases, to identify potential trading opportunities and manage risk effectively. Given the current technical setup, cautious optimism for a short-term bounce could be warranted, but the overall bearish trend suggests remaining vigilant for further downside risks.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
16.05.2024

EURNZD Analysis for 17.05.2024 (https://fxglory.com/2024/05/17/eurnzd-analysis-for-17-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EURNZD pair reflects the exchange rate between the Euro and the New Zealand Dollar. Recent economic data from New Zealand shows the PPI Input at 0.7%, slightly above the forecast of 0.6%, and PPI Output at 0.9%, significantly above the forecast of 0.5%. These figures indicate stronger-than-expected producer prices, supporting the NZD currency. For the Euro currency, the Final Core CPI y/y is forecasted at 2.7% and the Final CPI y/y at 2.4%, reflecting mild inflationary pressures. While these figures suggest a stable economic environment in the Eurozone, their impact is expected to be low due to the nature of these data releases.

Price Action:
In the EUR NZD technical analysis on H4 time frame, the EUR-NZD chart shows a clear downtrend, characterized by successive lower highs and lower lows. The price is currently consolidating near a recent low, suggesting potential for either a continued downward move or a short-term rebound. The bearish candles indicate strong selling pressure, and a break below the current support level could signal further declines.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands have widened and continue to widen, indicating increased volatility. The price is currently near the lower band, which suggests potential oversold conditions and a possible bounce.
MACD: The MACD line is below the signal line and in negative territory, indicating bearish momentum. The histogram shows increasing bearish divergence, suggesting that the downtrend may continue.
RSI: The RSI is at 33.55, which is approaching the oversold zone. This indicates that the pair might be due for a short-term correction or consolidation before continuing its downtrend.

Support and Resistance:
Support: The immediate support level is at 1.7748, which is a recent low. A break below this level could lead to further declines towards 1.7700.
Resistance: The immediate resistance level is at 1.7864 (23.6% Fibonacci retracement level). The next significant resistance is at 1.7900 (38.2% Fibonacci retracement level).

Conclusion and Consideration:
The EURNZD chart analysis shows a strong bearish trend on the H4 chart, as indicated by the widening Bollinger Bands and the bearish MACD signal. While the RSI suggests the pair is approaching oversold conditions, the overall EURNZD technical outlook remains bearish. Traders should monitor the support level at 1.7748 closely; a break below this level could signal further declines. Conversely, if the pair bounces, the resistance levels at 1.7864 and 1.7900 should be watched for potential selling opportunities. Given the current market conditions and economic data, traders should exercise caution and implement proper risk management strategies.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
17.05.2024

USDCAD technical analysis for 20.05.2024 (https://fxglory.com/2024/05/20/usdcad-technical-analysis-for-20-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The USD/CAD price is influenced by various economic factors, including interest rate differentials between the Federal Reserve and the Bank of Canada, economic indicators such as GDP growth rates, and commodity prices, particularly oil, which is a major export for Canada. Today, the US has several FOMC members speaking, which might provide subtle hints about future monetary policy, potentially impacting the USD. Additionally, a bank holiday in Canada (Victoria Day) could lead to lower liquidity and increased volatility in the market.

Price Action:

The H4 forex USDCAD chart shows a downward channel indicating a bearish USDCAD trend. The price has been consistently making lower highs and lower lows. Currently, the price is moving towards the lower boundary of the channel, suggesting continued bearish pressure. The recent USDCAD price action with four consecutive candles near the lower Bollinger Band indicates strong selling momentum.

Key Technical Indicators:

Bollinger Bands: The bands are tightening, suggesting reduced volatility. The current price is moving towards the lower band, indicating bearish momentum. This could either mean a continuation of the downtrend or a potential bounce if the lower band acts as support.

MACD (Moving Average Convergence Divergence): The MACD line is below the signal line and in negative territory, which confirms the bearish trend and suggests that downward momentum is still in play.
RSI (Relative Strength Index): The RSI is around 38.42, indicating that the market is not yet oversold, leaving room for further downside before a potential reversal or consolidation.

Support and Resistance:

Support: The immediate support level is around 1.3550, which coincides with the lower boundary of the descending channel.

Resistance: The first resistance level is at 1.3660, followed by a more significant resistance around 1.3740, which is near the upper boundary of the channel.

Conclusion and Consideration:

The USD/CAD pair forecast on the H4 chart is exhibiting a clear bearish trend within a descending channel. The key technical indicators, such as Bollinger Bands, MACD, and RSI, support this bearish outlook. Traders should watch for a break below the immediate support level of 1.3550 for further downside potential. Conversely, any hawkish comments from FOMC members today could provide some strength to the USD, leading to a potential reversal or correction. Given the low liquidity due to the Canadian bank holiday, traders should be cautious of potential volatility spikes.

Disclaimer:

The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
20.05.2024

GBPAUD analysis for 21.05.2024 (https://fxglory.com/2024/05/21/gbpaud-analysis-for-21-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/AUD price is influenced by various economic factors, including interest rate differentials between the Bank of England and the Reserve Bank of Australia, economic indicators, and geopolitical events. Today, Bank of England Governor Bailey is scheduled to speak, which could provide insights into the future monetary policy stance of the UK, potentially impacting the GBP. Traders will be attentive to any hawkish comments that might bolster the GBP, especially given the recent market volatility. This speech could offer significant insights into the economic outlook and monetary policy adjustments, influencing the Great Britain pound against the Australian dollar.

Price Action:
The H4 forex GBP/AUD chart shows a recovery trend after the price touched the 23.6% Fibonacci retracement level. The price action suggests a potential bullish momentum as the MACD is showing strong potential for a bullish wave, indicating a chance for bulls to take control of the market once more. Additionally, the price has recently broken the resistance level at 1.90230, and a retest of this level is probable. This retest could provide a significant buying opportunity if the level holds as support, suggesting further upward movement.

Key Technical Indicators:
MACD (Moving Average Convergence Divergence): The MACD indicator is showing a bullish crossover, indicating increasing upward momentum. This crossover suggests that the price may continue to rise as buying pressure builds.
RSI (Relative Strength Index): The RSI is currently above the 60 level, indicating that the market is gaining bullish strength but is not yet overbought. This suggests there is still room for further upward movement before reaching overbought conditions.

Support and Resistance:
Support:[/b] The immediate support level is at 1.90230, which was recently broken and is now likely to be retested. If this level holds, it could act as a strong foundation for further bullish moves.
Resistance: The next significant resistance level to watch is around 1.9150, followed by a higher resistance at approximately 1.9275, which aligns with the 50% Fibonacci retracement level.

Conclusion and Consideration:
The GBP/AUD pair on the H4 chart is showing promising signs of a bullish reversal after rebounding from the 23.6% Fibonacci retracement level. Key technical indicators, such as the MACD and RSI, suggest increasing bullish momentum, indicating potential further upside. Traders should keep an eye on the retest of the 1.90230 support level, as holding above this level could confirm the bullish trend. Additionally, any hawkish comments from BOE Governor Bailey today may strengthen the GBP further, supporting the bullish outlook. It is essential to monitor these developments closely for informed trading decisions.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
21.05.2024

USDSEK Analysis for 22.05.2024 (https://fxglory.com/2024/05/22/usdsek-analysis-for-22-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The USD/SEK pair is influenced by economic factors such as interest rate decisions by the Federal Reserve and the Riksbank, as well as broader economic indicators from the United States and Sweden. Recently, the Federal Reserve's cautious stance on interest rate hikes has created uncertainty in the market, impacting the USD. Meanwhile, Sweden's economic performance has been robust, with recent data showing strong GDP growth and low unemployment rates. These factors contribute to the SEK's strength. Traders should keep an eye on upcoming economic reports, including US GDP figures and Swedish industrial production data, as these can provide further direction for the USD/SEK pair.

Price Action:

The H4 forex USD/SEK chart shows a bearish trend with the price recently touching new lows. The price action indicates a potential continuation of the downward momentum as the MACD is showing a bearish signal, suggesting that bears might maintain control of the market. Additionally, the price has recently tested the support level around 10.6800, and a break below this level could accelerate the bearish move. Conversely, a bounce from this support could provide a temporary relief rally.

Key Technical Indicators:

MACD (Moving Average Convergence Divergence): The MACD indicator is showing a bearish crossover, indicating increasing downward momentum. This crossover suggests that the price may continue to decline as selling pressure builds.

RSI (Relative Strength Index): The RSI is currently around the 44 level, indicating that the market is bearish but not yet oversold. This suggests there is still room for further downward movement before reaching oversold conditions.

Ichimoku Cloud: The price is trading below the Ichimoku Cloud, indicating a bearish trend. The cloud itself is thick, suggesting strong resistance above the current price level.

Support and Resistance:

Support: The immediate support level is at 10.6800, which is a critical level to watch. A break below this level could lead to further declines.

Resistance: The next significant resistance level to watch is around 10.7500, followed by a higher resistance at approximately 10.8000.

Conclusion and Consideration:

The USD/SEK pair on the H4 chart is showing signs of continued bearish momentum after touching recent lows. Key technical indicators, such as the MACD and RSI, suggest increasing bearish pressure, indicating potential further downside. Traders should monitor the 10.6800 support level closely, as a break below this level could confirm the bearish trend. Additionally, any economic data or statements from the Federal Reserve and Riksbank could impact the USD/SEK pair significantly. It is essential to stay informed and adjust trading strategies accordingly.

Disclaimer:

The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
22.05.2024

AUD/NZD daily chart analysis for 23.05.2024 (https://fxglory.com/2024/05/23/aud-nzd-daily-chart-analysis-for-23-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The AUD NZD price analysis reflects dynamics influenced significantly by economic releases and central bank communications from both Australia and New Zealand. Recently, the economic indicators show a mixed but potent impact on the currencies. Notably, the RBNZ Governor's speech and unexpected retail sales data from New Zealand have provided support to the NZD, suggesting a potentially hawkish monetary stance. Meanwhile, Australia's lower-than-expected Flash Manufacturing PMI suggests a slight economic contraction, contrasting with a stronger Services PMI, indicating resilience in the service sector. These factors cumulatively guide the nuanced fundamental backdrop affecting the AUD-NZD exchange rate.

Price Action:

In the H4 timeframe, the AUDNZD chart forecast demonstrates a distinct movement towards the lower Bollinger Band, touching this boundary multiple times in recent sessions, indicating strong selling pressure. The widening of the bands suggests increasing volatility with a bearish bias as price action continues to test these lower limits. The formation of the recent bearish candles, particularly with significant shadows, underscores a rejection at higher levels, pointing towards a continuation of the current downtrend.

Key Technical Indicators:

Bollinger Bands: The widening of the bands coupled with frequent touches of the lower band underscores heightened volatility and a strong downward momentum. This repeated testing indicates robust support levels that may soon become a pivot point for price action.

MACD: The MACD line remains below the signal line, affirming the bearish sentiment in the market. The proximity to the zero line also suggests a lack of strong momentum upwards, reinforcing the current bearish trend.

RSI: The RSI is currently hovering near the 40 level, which often suggests bearish momentum but not yet oversold, implying there could be more room for downward movement before a potential reversal.

Support and Resistance Levels:

Support: The current and previous touches of the lower Bollinger Band around the 1.0800 mark act as a critical support zone.

Resistance: On the upside, the recent highs near the 1.0850 level form a temporary resistance, beyond which further recovery might face hurdles.

Conclusion and Consideration:

The AUDNZD forecast chart on the H4 timeframe, shows a strong bearish trend underpinned by both technical and fundamental factors. The approaching speech by RBNZ Governor Orr and recent positive retail sales figures in New Zealand contrast with weaker economic signs from Australia, likely fueling the NZD's strength against the AUD. Traders should monitor these levels closely, considering the potential for increased volatility around upcoming economic events and central bank communications.

Disclaimer: This analysis is provided as a general market commentary and does not constitute investment advice. Financial trading involves risks, and it is advised to conduct thorough research or consult a professional advisor before making any investment decisions.

FxGlory
23.05.2024

GBPCAD Daily Chart Analysis for 24.05.2024 (https://fxglory.com/2024/05/24/gbpcad-daily-chart-analysis-for-24-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/CAD currency pair reflects the exchange rate between the British Pound and the Canadian Dollar. Fundamental drivers include economic indicators such as consumer confidence, retail sales, and corporate profits. Today, low-impact data from the UK shows GfK Consumer Confidence better than forecasted, which is positive for GBP currency. However, high-impact retail sales data is expected, which could provide significant market movement. On the Canadian side, core retail sales and overall retail sales are anticipated, with both having the potential to impact the CAD. Traders should keep a close eye on these releases as they are pivotal in understanding market sentiment and economic health.

Price Action:
The GBPCAD pair analysis in the H4 timeframe has been showing a bullish trend, characterized by consistent upward movement and price action primarily above previous resistance levels. The pair has been adhering to a series of higher highs and higher lows, reflecting strong buying momentum. Recently, price action has been navigating the upper Bollinger Bands, indicating strong upward pressure and a potential overbought condition in the short term.

Key Technical Indicators:
Bollinger Bands: The candles have been moving on the upper side of the Bollinger Bands for the past 10 days, signaling a strong bullish momentum. This indicates that the pair might be overextended and could face a correction if it doesn't break above the upper band convincingly.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line and situated well above the zero line, showing strong bullish momentum. This suggests that the buying pressure remains robust, but traders should watch for any divergence or a potential crossover that might indicate a weakening trend.
RSI (Relative Strength Index): The RSI is hovering above 70, indicating that the pair is in overbought territory. This suggests a potential for a corrective pullback or consolidation as the market might need to absorb the recent gains before continuing its upward trajectory.

Support and Resistance:
Support: The immediate support level is found around 1.73700, where the price has previously found buyers and rebounded.
Resistance: The current resistance level is around 1.74600, a psychological level and the recent high, which might be tested if the bullish momentum continues.

Conclusion and Consideration:
The GBPCAD pair on the H4 chart shows strong bullish momentum, underpinned by the GBPCAD’s technical indicators and price action analysis. The Bollinger Bands, MACD, and RSI all point to a continuation of the upward trend, though the RSI warns of a possible short-term correction. Traders should monitor the upcoming economic data releases closely, as they can provide crucial insights and potentially trigger significant price movements. It is prudent to consider risk management strategies given the potential volatility from the economic news.

Disclaimer: The GBPCAD’s provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. The market conditions can change rapidly, and it is essential to stay updated with the latest information.

FxGlory
24.05.2024

USDJPY Daily Technical and Fundamental Analysis for 27.05.2024 (https://fxglory.com/2024/05/27/usdjpy-daily-technical-and-fundamental-analysis-for-27-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/JPY currency pair reflects the exchange rate between the US Dollar (USD) and the Japanese Yen (JPY). Today, the USD is expected to experience low liquidity due to a Bank Holiday in observance of Memorial Day. This typically leads to irregular volatility and less market activity, as US banks will be closed. On the other hand, significant volatility is anticipated for the JPY with Bank of Japan (BOJ) Governor Kazuo Ueda scheduled to speak. Traders will scrutinize his speech for clues on future monetary policy and interest rate changes, which could impact the value of the JPY currency.

Price Action:
The USDJPY pair analysis in the H4 timeframe shows a clear bullish trend. Over the past 10 days, the USD-JPY pair’s price has been moving within an ascending channel. Recently, the price has been closer to the middle Bollinger Band line, suggesting a potential consolidation phase. The last five candles indicate a minor pullback, but the price remains within the upper half of the Bollinger Bands, maintaining a bullish stance.

Key Technical Indicators:
Bollinger Bands: Analyzing the USDJPY’s key technical indicators, the Bollinger Bands have been narrowing, which often precedes a period of low volatility followed by a breakout. The USD JPY’s price has been moving in the upper half of the Bands for the last 10 days, and in the last five candles, it's getting closer to the middle line but remains above it, indicating ongoing bullish momentum albeit with caution for potential consolidation.
MACD (Moving Average Convergence Divergence): The MACD line is slightly above the signal line but the histogram shows decreasing momentum. This suggests that while the bullish trend is intact, the buying pressure may be weakening. Traders should watch for a potential bearish crossover which could indicate a shift in momentum.
RSI (Relative Strength Index): The RSI is currently at 59.42, below the overbought level of 70. This indicates that there is still room for the price to move higher before hitting overbought conditions. The RSI supports the ongoing bullish trend but suggests that the market is not yet overextended.

Support and Resistance:
Support: Immediate support is located at 156.300, which aligns with the middle Bollinger Band and a recent price consolidation area.
Resistance: The nearest resistance level is at 157.600, which coincides with the upper boundary of the ascending channel and recent highs.

Conclusion and Consideration:
The USDJPY pair on the H4 chart forecast shows sustained bullish momentum, supported by the Bollinger Bands, MACD, and RSI indicators. The USDJPY’s current price action within the ascending channel indicates that the bulls are still in control, though the narrowing Bollinger Bands and weakening MACD histogram suggest caution. Traders should be mindful of the potential for increased volatility due to the BOJ Governor's speech, which could impact the JPY significantly. Given the upcoming US Bank Holiday, liquidity might be low, leading to irregular volatility.

Disclaimer: The USD-JPY’s provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis of USDJPY before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FxGlory
27.05.2024

EURUSD Price Analysis for 28.5.2024 (https://fxglory.com/2024/05/28/eurusd-price-analysis-for-28-5-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The recent news includes key economic indicators from both the Eurozone and the US that could significantly affect the EUR/USD exchange rate. On May 29th, the Eurozone will release the German Prelim CPI m/m, a crucial indicator of inflation trends in Europe's largest economy. For the US, significant data releases on May 30th include the Prelim GDP q/q with a forecast of 1.3% against the previous 1.6%, and Unemployment Claims expected to come in at 218K compared to the previous 215K. These economic indicators are essential to watch, as they provide insights into the economic health of both regions, influencing currency strength.

Price Action:
The EUR/USD H4 chart currently shows that the price has broken out of its bearish channel, which could indicate the end of the correction phase and suggest the potential for another bullish leg. The breakout from the bearish channel suggests a possible shift in momentum towards the upside. Traders should watch for confirmation of this breakout with sustained movement above the upper channel line, indicating the continuation of the bullish trend.

Key Technical Indicators:
MACD: The Moving Average Convergence Divergence (MACD) shows a lack of bearish momentum, with the histogram tightening and the MACD line showing signs of turning upwards. This could indicate a potential shift in the EUR/USD current trend towards bullishness.
RSI: The Relative Strength Index (RSI) is hovering around 58, which is slightly above neutral, indicating a mild bullish bias without being in overbought territory, suggesting room for further upward movement.

Support and Resistance Levels:
Support: The lower points of the recent candles around 1.08300 serve as the immediate support level.
Resistance: The upper line of the former bearish channel around 1.08750 acts as a resistance level.

Conclusion and Consideration:
Traders should closely monitor both the upcoming economic news and the GBPUSD reaction at the 1.26000 resistance level. A failure to break through could confirm the bearish price prediction, leading to potential short opportunities. Conversely, a strong push above this level could invalidate the bearish scenario for this pair. Given these dynamics, it's essential to stay updated with the latest economic reports and adjust strategies accordingly to navigate the volatile forex market effectively.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
28.05.2024

USDCAD Price Analysis for 29.5.2024
(https://fxglory.com/2024/05/29/usdcad-price-analysis-for-29-5-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

Economic indicators from Canada and the United States continue to play a significant role in influencing the USD/CAD exchange rate. Key data such as employment reports, inflation rates, and central bank statements should be closely monitored. For instance, changes in oil prices significantly impact the Canadian dollar due to Canada's substantial oil exports. Meanwhile, economic recovery signals from the U.S., including GDP growth or Federal Reserve policy shifts, could sway USD strength. Traders should stay attuned to these economic releases to gauge potential impacts on currency movements.

Price Action:

The USD/CAD chart shows a bearish sentiment as the price remains below the Ichimoku Cloud. This alignment typically indicates a continuation of the downward trend, with the cloud acting as resistance in the near term. The candles being consistently below the cloud without any significant bullish breakouts suggest that the bearish momentum is strong. Traders should watch for any candle formations or price actions that might indicate a potential reversal or stabilization.

Key Technical Indicators:

MACD: The Moving Average Convergence Divergence (MACD) indicator is below the histogram, which typically suggests a bearish momentum. However, a closer inspection reveals that the MACD line is showing signs of leveling off, which might hint at a potential slowdown in the bearish momentum or a stabilization of prices..

RSI: The Relative Strength Index (RSI) is above 50, hovering around 50.69, which indicates a mild bullish undercurrent or at least a reduction in bearish momentum. This suggests that while the market has been bearish, there may be potential for some stabilization or a mild upward correction.

Ichimoku Kinko Hyo: The USD/CAD chart shows that the candles are currently below the Ichimoku Cloud, suggesting a bearish trend. The green cloud indicates potential support levels below the current price, but as long as prices remain below the cloud, the overall market sentiment remains bearish.

Support and Resistance Levels:

Support: The immediate support can be identified by the lower boundary of the Ichimoku Cloud and the recent lows around the 1.36300 level.

Resistance Resistance is likely formed by the base of the Ichimoku Cloud above the current price level, around 1.36900. Prices would need to break above the cloud to indicate a shift to a bullish outlook.

Conclusion:

While the market shows a bearish trend with prices below the Ichimoku Cloud and MACD below the histogram, the RSI above 50 suggests some resistance to further downward movement. Traders should watch for potential signs of a bullish reversal if the price attempts to break above the Ichimoku Cloud. However, until such a breakout occurs, the bearish sentiment is likely to prevail.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
29.05.2024

AUDUSD Daily Technical and Fundamental Analysis for 30.05.2024 (https://fxglory.com/2024/05/30/audusd-daily-technical-and-fundamental-analysis-for-30-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUDUSD currency pair chart represents the exchange rate between the Australian Dollar (AUD) and the US Dollar (USD). This pair is highly influenced by economic indicators from both Australia and the United States, making it a critical focus for forex traders. Monitoring the AUD/USD chart price is essential for understanding market trends and potential trading opportunities in the forex market. Today, the Australian Dollar (AUD) is influenced by low-impact economic events. RBA Assistant Governor Sarah Hunter's speech is unlikely to introduce significant market volatility but could offer subtle insights into future monetary policy. Additionally, data on Building Approvals (forecasted at 1.8%) and Private Capital Expenditure (forecasted at 0.6%) are due, which are essential indicators of economic health, though they are expected to have low impact. In contrast, the US Dollar (USD) faces high-impact events including Preliminary GDP data (forecasted at 1.2%), Unemployment Claims (forecasted at 218K), and Pending Home Sales (forecasted at -1.1%). These events are pivotal and could induce substantial market movements, reflecting the USD's overall economic health.

Price Action:
AUDUSD On the H4 timeframe, has been displaying a mix of bearish and bullish sentiments. Over the last five candles, three were bearish, showing a downward trend, while the last two candles are bullish, suggesting a potential reversal. This AUD/USD price action is notable as it indicates a shift in market sentiment with the possibility of further upward movement of the AUD USD chart price if the bullish momentum continues.

Key Technical Indicators:
Bollinger Bands: The bands are widening smoothly, indicating increased volatility. The last five candles have been moving in the lower part of the bands, showing a bearish trend. However, the last two bullish candles suggest a possible upward correction or reversal in the AUD-USD price.
Parabolic SAR: The Parabolic SAR dots have been above the candles for the last 10 spots, which is a bearish signal. This indicates that the market is still in a downtrend, but traders should watch for any shift below the price, which would indicate a potential trend reversal.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, and both are below the zero line, reflecting bearish momentum. However, the histogram shows a slight decrease in bearish pressure, hinting at a potential bullish crossover if the current trend continues.
RSI (Relative Strength Index): The RSI is at 38.55, indicating that the AUDUSD is approaching oversold territory. This level suggests a potential for an upward correction if the buying pressure increases.

Support and Resistance:
Support Levels: The immediate support is at 0.6580, a psychological level and a recent low. Below this, further support can be found at 0.6560.
Resistance Levels: The nearest resistance is at 0.6640, a level tested by recent price action. Above this, significant resistance lies at 0.6685, aligned with the 50% Fibonacci retracement level.

Conclusion and Consideration:
The AUDUSD on the H4 chart shows mixed signals. The widening Bollinger Bands suggest increased volatility, and the Parabolic SAR indicates a prevailing bearish trend. However, the recent bullish candles, combined with an RSI approaching oversold levels, and a potentially converging MACD, hint at a possible upward correction. Traders should closely monitor upcoming US economic data releases, as they are likely to drive significant market movements. It's prudent to consider both bullish and bearish scenarios, implementing appropriate risk management strategies.

Disclaimer: The provided AUDUSD chart analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FxGlory
30.05.2024

EURJPY Daily Technical and Fundamental Analysis for 31.05.2024 (https://fxglory.com/2024/05/31/eurjpy-daily-technical-and-fundamental-analysis-for-31-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/JPY currency pair chart is expected to be influenced by several economic data releases today. Key among these is the French Final Private Payrolls report, which is forecasted to show a 0.2% increase. A higher than expected result would be positive for the Euro. Additionally, other data such as German Import Prices, German Retail Sales, French Consumer Spending, and various CPI figures will be released, though these are expected to have low impact. On the Japanese side, the Tokyo Core CPI y/y is forecasted at 1.9%, indicating mild inflation pressures, which could influence the JPY.

Price Action:
The EUR JPY forex pair has been experiencing a gradual bullish trend in the H4 timeframe. The price has recently retraced but remains above the critical support levels, suggesting the potential for continued upward movement. The recent candles show a consolidation phase, with the price moving towards the middle band of the Bollinger Bands.

Key Technical Indicators:
Bollinger Bands:
The Bollinger Bands are widening, indicating increased volatility. The EUR-JPY price has been mostly moving between the middle and upper bands, showing bullish momentum. The last few candles of EURJPY suggest a retracement towards the middle band, but the overall direction remains upwards.
Parabolic SAR:
The Parabolic SAR dots are currently positioned below the candles, which is a bullish signal. This indicator supports the ongoing upward trend, as the last three dots confirm the bullish stance.
MACD (Moving Average Convergence Divergence):
The MACD line is slightly above the signal line, and the histogram shows decreasing bearish momentum in EUR/JPY price. This suggests that the bullish trend might be losing some strength, but it is not yet reversing. Traders should watch for a potential bullish crossover which could reaffirm the uptrend.
RSI (Relative Strength Index):
The RSI is at 46.86, indicating a neutral stance. This suggests that there is room for further upward movement before reaching overbought conditions. The RSI supports the current consolidation phase within the broader bullish trend.

Support and Resistance:
Support Levels:
Immediate support is at 169.000, which aligns with the 61.8% Fibonacci retracement level and recent price action od EURJPY. Further support is found at 167.860, coinciding with the 50% Fibonacci retracement.
Resistance Levels:
Immediate resistance is at 170.825, where the recent highs align with the upper Bollinger Band.
Further resistance is at 171.415, the recent peak and 100% Fibonacci extension.

Conclusion and Consideration:
The EURJPY pair on the H4 chart shows a predominantly bullish trend with temporary consolidation. Key technical indicators such as the Bollinger Bands, Parabolic SAR, MACD, and RSI support the likelihood of continued upward movement, though with some caution due to the consolidation phase. Traders should monitor upcoming economic data releases from the Eurozone and Japan, as they could introduce volatility and influence the pair’s direction.

Disclaimer: The provided EURJPY analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis of EURJPY forex pair before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FxGlory
31.05.2024

EUR/USD Technical Analysis for 3.06.2024 (https://fxglory.com/2024/06/03/eur-usd-technical-analysis-for-3-06-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The EUR/USD currency pair is influenced by various economic data releases today. Key among these is the Eurozone Retail Sales report, which is expected to show a 0.3% increase. A higher-than-expected result would be positive for the Euro. Additionally, other data such as German Factory Orders, Eurozone GDP, and various CPI figures will be released, though these are expected to have a moderate impact. On the US side, the Non-Farm Payrolls report and the Unemployment Rate are crucial indicators, with the NFP forecasted at 200K, indicating steady job growth, which could influence the USD.

Price Action:

The EUR/USD forex pair has been experiencing a bearish trend in the H4 timeframe. The price has recently retraced but remains above the critical support levels, suggesting the potential for continued downward movement. The recent candles show a consolidation phase, with the price moving towards the lower band of the Bollinger Bands.

Key Technical Indicators:

Ichimoku:

The Ichimoku Cloud analysis shows a bearish signal as the last cloud is red, indicating a negative outlook. Both the conversion line (Tenkan-sen) and the base line (Kijun-sen) are below the candles, which supports the bearish sentiment.

MACD (Moving Average Convergence Divergence):

The MACD line is below the histogram, indicating bearish momentum and suggesting a downward trend. The histogram also shows increasing bearish momentum, reinforcing the possibility of further declines.

Elliott Wave Analysis:

The Elliott Wave analysis for EUR/USD indicates that the pair is in a corrective phase. The recent waves suggest that the pair might continue its downward trajectory before completing the current wave structure.

Support and Resistance:

Support Levels:

Immediate support is at 1.0800, which aligns with the recent price action and the lower boundary of the Ichimoku Cloud. Further support is found at 1.0750, coinciding with previous swing lows.

Resistance Levels:

Immediate resistance is at 1.0900, where the recent highs align with the upper Bollinger Band. Further resistance is at 1.0950, the recent peak and psychological level.

Conclusion and Consideration:

The EUR/USD pair on the H4 chart shows a predominantly bearish trend with temporary consolidation. Key technical indicators such as the Ichimoku Cloud, MACD, and Elliott Wave analysis support the likelihood of continued downward movement. Traders should monitor upcoming economic data releases from the Eurozone and the US, as they could introduce volatility and influence the pair’s direction.

Disclaimer: The provided EUR/USD analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis of the EUR/USD forex pair before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FxGlory
3.06.2024

Gold Price Analysis for 04.06.2024 (https://fxglory.com/2024/06/04/eurusd-price-analysis-for-28-5-2024-cloned-23971-cloned-23982/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Gold, also known as XAU/USD, continues to be influenced by a mix of economic data and geopolitical factors. Recent data from the United States, including robust employment figures and persisting inflation concerns, has kept the Federal Reserve on a path of potential interest rate hikes, strengthening the US Dollar and exerting downward pressure on gold. Furthermore, geopolitical uncertainties, particularly in Europe and Asia, add to the volatility, with investors often seeking gold as a safe-haven asset during times of heightened uncertainty. This context provides crucial insights into the XAU/USD technical analysis today live, offering a broader understanding of the current market dynamics.

Price Action:
The H4 timeframe for XAU/USD shows a predominantly bearish trend. The price action has been characterized by lower highs and lower lows, indicating sustained downward momentum. Despite occasional attempts to break above resistance levels, the price remains constrained below the Ichimoku cloud and a descending trendline, reinforcing the bearish sentiment. Observing the gold news today, it is evident that these factors are shaping the current price movement.

Key Technical Indicators:
Ichimoku Cloud:
The price is trading below the Ichimoku cloud, signaling a bearish outlook as the cloud acts as a major resistance zone. This aligns with the gold forecast news live, suggesting a continuation of the bearish trend.
MACD (Moving Average Convergence Divergence):
The MACD histogram is negative, with the MACD line below the signal line, indicating ongoing bearish momentum and potential for further price declines.
RSI (Relative Strength Index):
The RSI is at 55.30, suggesting a neutral to slightly bearish sentiment. The indicator shows room for the price to decline further before reaching oversold conditions.

Support and Resistance:
Support Levels:
Immediate support is found at 2333.73 and 2320.29. A break below these levels could lead to a decline towards 2302.93.
Resistance Levels:
Key resistance levels are located at 2350.54 and 2366.77. A sustained move above these levels could challenge the prevailing bearish trend.

Conclusion and Consideration:
The XAU/USD pair on the H4 chart exhibits a strong bearish trend, with key technical indicators confirming downward momentum. The price remains below significant resistance levels, including the Ichimoku cloud and descending trendline. Traders should monitor economic data releases and geopolitical developments closely, as these can impact gold prices significantly. In the current environment, considering short positions while setting appropriate stop-loss levels to manage risk could be prudent. Watch for any signs of trend reversals, especially if the price begins to break above key resistance levels. Keeping up with the gold forecast news live and XAU/USD technical analysis today will be essential for making informed trading decisions.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
04.06.2024

USDCAD Price Analysis for 05.06.2024 (https://fxglory.com/2024/06/05/usdcad-price-analysis-for-05-06-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The USDCAD pair continues to be influenced by a combination of economic data and geopolitical factors. Recent US economic reports, such as strong employment figures and ongoing inflation concerns, are pushing the Federal Reserve towards potential interest rate hikes, thereby strengthening the US Dollar. This, in turn, affects the USDCAD currency trend. Additionally, Canadian economic data and oil prices play significant roles in shaping the pair's movements. Staying updated with the USDCAD news analysis is crucial for understanding the broader market dynamics.

Price Action:

On the H4 timeframe, USDCAD is showing a mixed market sentiment. While the price is above the Ichimoku cloud, suggesting an uptrend, the red cloud indicates potential future bearishness. The candles are above the cloud, with the base line (Kijun-sen) in the cloud and the conversion line (Tenkan-sen) below the candles. The market appears to be ranging, awaiting a clear direction.

Key Technical Indicators:

Ichimoku Cloud: The last cloud on the USDCAD chart is red, signaling possible future bearish sentiment. The candles are above the cloud, indicating a current uptrend. The base line is in the cloud, and the conversion line is below the candles, suggesting consolidation.

Order block: Identified order blocks indicate key support and resistance areas. Monitoring the market’s reaction to these areas is crucial for potential trading opportunities.

Support and Resistance:

Support Levels: Watch for reactions around key support zones, which may provide buy opportunities if the price bounces.

Resistance Levels: Key resistance areas could serve as sell points if the price fails to break through.

Conclusion and Consideration: The USDCAD pair exhibits a mixed sentiment on the H4 chart. While the current uptrend is indicated by the price being above the Ichimoku cloud, the red cloud suggests caution due to potential bearish future movements. The MACD also points to a downtrend, adding to the mixed signals. Traders should closely watch the market's reaction to the identified order blocks and key support and resistance levels.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
05.06.2024

GBPUSD H4 Technical and Fundamental Analysis for 06.06.2024 (https://fxglory.com/2024/06/06/gbpusd-h4-technical-and-fundamental-analysis-for-06-06-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The GBPUSD forecast today reflects the relationship between the British Pound (GBP) and the US Dollar (USD). Fundamental factors influencing the GBPUSD pair include interest rate differentials, economic growth, and geopolitical stability. For the GBP, upcoming Construction PMI data is expected to impact market sentiment, with a forecast of 52.5 indicating expansion. For the USD, high-impact Unemployment Claims data, with a forecast of 220K, will be closely watched as it provides insights into the labor market, influencing the USD's strength.

Price Action:

On the H4 timeframe, the GBPUSD pair shows a steady uptrend, characterized by higher highs and higher lows. The GBPUSD price forecast today indicates a potential bullish continuation if the pair breaks above the immediate resistance levels. The market has recently tested significant resistance near 1.2836, suggesting a possible consolidation before further upward movement.

Key Technical Indicators:

Ichimoku Cloud: The price is above the Ichimoku Cloud, indicating a bullish trend. The leading span lines (Senkou Span A and B) are widening, reinforcing the bullish sentiment.
The Tenkan-sen (red line) and Kijun-sen (blue line) are bullishly aligned, with the Tenkan-sen above the Kijun-sen.

Volume: The recent increase in volume suggests strong buying interest, supporting the bullish momentum. Volume spikes coincide with upward price movements, confirming the validity of the uptrend.

RSI (Relative Strength Index): The RSI is at 58.32, which is moderately bullish. This indicates that there is room for further upward movement before reaching overbought conditions (above 70).

Support and Resistance:

Support Levels: The nearest support level is at 1.2763, followed by stronger support at 1.2703.

Resistance Levels: Immediate resistance is at 1.2788, with a more significant resistance at 1.2836.

Conclusion and Consideration: The GBPUSD trend predictions suggest a continuation of the bullish trend, supported by positive technical indicators and robust price action. Traders should monitor key resistance levels at 1.2788 and 1.2836 for potential breakout opportunities. As per the GBPUSD news analysis today, given the upcoming GBP Construction PMI and USD Unemployment Claims data, market volatility is expected. Proper risk management, including setting stop-loss levels, is crucial in navigating the current market conditions.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
06.06.2024

EURUSD H4 Daily Technical and Fundamental Analysis for 07.06.2024 (http://"https://fxglory.com/2024/06/07/eurusd-h4-daily-technical-and-fundamental-analysis-for-07-06-2024/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EURUSD currency pair, often referred to as "Fiber," reflects the exchange rate between the Euro and the US Dollar. Today, the Euro may see some impact from a series of low-impact economic data releases. Germany's Industrial Production report, forecasted at 0.1%, and Trade Balance, forecasted at 22.6B, along with France's Trade Balance, forecasted at -5.4B, will provide insights into the economic health of the Eurozone's largest economies. Additionally, comments from the Deutsche Bundesbank President and other minor economic indicators could influence the Euro. On the USD side, high-impact data including Average Hourly Earnings, Non-Farm Employment Change, and the Unemployment Rate are expected. These reports are critical as they provide a snapshot of the US labor market, influencing the USD significantly. A better-than-expected Non-Farm Payrolls (forecasted at 182K) and Unemployment Rate (forecasted at 3.9%) could strengthen the USD.

Price Action:
Examining the EUR/USD H4 chart price, the Fiber pair has shown a bullish trend over the past few sessions. The price has been moving within an ascending channel, staying above the key support trendline. The recent EUR USD price action indicates a series of higher highs and higher lows, with the price touching the middle Bollinger Band and moving in the upper half of the bands, signifying bullish momentum. The last five candles have been mainly bullish, suggesting positive market sentiment.

Key Technical Indicators:
Bollinger Bands: The EURUSD chart’s Bollinger Bands have been getting tighter, indicating decreased volatility. The price has been trading in the upper half of the bands and touching the middle band, showing a positive trend with potential for upward movement. The recent bullish candles support this momentum.
MACD (Moving Average Convergence Divergence): The MACD line is slightly above the signal line, with a positive histogram, indicating bullish momentum. However, the momentum appears to be stabilizing, suggesting traders should watch for any potential crossover that could signal a change in trend.
Williams %R: The Williams %R indicator is currently showing a value close to -20, indicating that the pair is near overbought conditions. This suggests caution as there might be a potential pullback or consolidation before the next significant move.

Support and Resistance:
Support: Immediate support is located at 1.0850, aligning with the ascending trendline and a recent price consolidation area.
Resistance: The nearest resistance level is at 1.0925, which coincides with recent highs and the upper boundary of the Bollinger Bands.

Conclusion and Considerations:
The EURUSD H4 chart analysis shows sustained bullish momentum, supported by key technical indicators such as Bollinger Bands, MACD, and Williams %R. The EUR-USD’s current price action within the ascending channel indicates that the bulls are in control. However, the narrowing Bollinger Bands and the overbought signal from Williams %R suggest caution. Traders should monitor today's economic data releases, especially from the US, as they could significantly impact the pair's direction. Given the upcoming high-impact US data, increased volatility is expected.

Disclaimer: The EUR/USD provided chart analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FXGlory
07.06.2024

USDJPY Technical and Fundamental Analysis for 10.06.2024 (http://"https://fxglory.com/2024/06/10/usdjpy-h4-technical-and-fundamental-analysis-for-10-06-2024/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's economic releases for Japan include low-impact indicators such as Bank Lending y/y, Current Account, Final GDP Price Index y/y, Final GDP q/q, and Economy Watchers Sentiment. The USDJPY news analysis today suggests a generally stable economic environment with no significant surprises expected. The USD has no major releases today, indicating a relatively quiet day on the fundamental front, potentially leaving the currency pair more susceptible to technical movements and broader market sentiment.

Price Action:
On the H4 chart, the USDJPY forecast live today shows a recent recovery from a dip, moving upwards and breaking past several key levels. The pair is currently trading above the Ichimoku cloud, suggesting a bullish bias. The recent candles have higher highs and higher lows, indicating a potential continuation of this upward momentum.

Key Technical Indicators:
Ichimoku Cloud: The price has broken above the cloud, with the Tenkan-sen (blue line) crossing above the Kijun-sen (red line), indicating a bullish trend. The leading span lines are showing a widening, which supports the bullish momentum.
Volume: There has been an increase in buying volume, which supports the recent upward price movement. This rise in volume suggests that the market participants are confident in the upward trend.
RSI (Relative Strength Index): The RSI is currently at 59.22, indicating moderate bullishness. It is not yet in the overbought territory, suggesting there is still room for further upside.

Support and Resistance:
Support Levels: The immediate support level is at 155.782, which aligns with the lower boundary of the upward trend channel.
Resistance Levels: The key resistance level is at 157.033. A break above this level could indicate a continuation of the bullish trend.

Conclusion and Consideration:
The USDJPY fundamental analysis today on the H4 chart displays signs of a bullish reversal, supported by positive signals from the Ichimoku cloud and increasing volume. The RSI suggests room for further gains, while the trendlines provide clear levels to watch for support and resistance. Traders should monitor for a breakout above the 157.033 resistance level to confirm continued bullish momentum. Considering the moderate impact of today's economic releases from Japan, the market's technical aspects are likely to dominate the price action.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
10.06.2024

EURGBP Price Analysis for 11.06.2024 (http://"https://fxglory.com/2024/06/11/eurgbp-price-analysis-for-11-06-2024/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The recent news includes key economic indicators from both the Eurozone and the UK that could significantly affect the EUR/GBP exchange rate. On June 29th, the Eurozone will release the German Prelim CPI m/m, a crucial indicator of inflation trends in Europe's largest economy. For the UK, significant data releases include the Prelim GDP q/q and Unemployment Claims expected to come in at 218K compared to the previous 215K. These economic indicators are essential to watch, as they provide insights into the economic health of both regions, influencing currency strength.

Price Action:

The EUR/GBP H4 chart currently shows that the price line is forming a bearish wedge pattern, suggesting a continuation of the bearish trend. The price action indicates sustained downward pressure, and the bearish momentum is likely to persist. Traders should watch for confirmation of the bearish wedge pattern with a break below the lower trendline, indicating the continuation of the bearish run.

Key Technical Indicators:

MACD: The Moving Average Convergence Divergence (MACD) shows a lack of bullish momentum, with the histogram showing bearish momentum and the MACD line trending downwards. This indicates a strong bearish trend in the EUR/GBP currency pair.

RSI: The Relative Strength Index (RSI) is hovering around 31, which is in the bearish territory, indicating that the bearish momentum is strong and the price could continue to move lower.

Support and Resistance Levels:

Support: The lower points of the recent candles around 0.84500 serve as the immediate support level.

Resistance: The upper line of the bearish wedge around 0.84670 acts as a resistance level.

Conclusion:

Traders should closely monitor both the upcoming economic news and the EUR/GBP reaction at the 0.84500 support level. A failure to break below could lead to a temporary pause in the bearish run, while a strong break below this level could confirm the bearish price prediction, leading to potential short opportunities. Given these dynamics, it's essential to stay updated with the latest economic reports and adjust strategies accordingly to navigate the volatile forex market effectively.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
11.06.2024

GBPUSD Price Analysis for 12.06.2024 (https://fxglory.com/2024/06/12/gbpusd-price-technical-and-fundamental-analysis-for-12-06-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The recent news includes key economic indicators from the US that could significantly affect the possible future direction on GBP/USD exchange rate. On June 12th, critical data releases include the Core CPI m/m with a forecast of 0.3% against the previous 0.3%, and the CPI m/m expected at 0.1% compared to the previous 0.3%. The year-over-year CPI is anticipated to be 3.4%, matching the previous figure. Additionally, at 7:00 pm, the Federal Funds Rate is expected to remain at 5.50%, accompanied by the FOMC Economic Projections, FOMC Statement, and the Federal Budget Balance, forecasted at -279.6B against the previous 209.5B. These economic indicators are essential to watch as they provide insights into the economic health of the US, influencing the strength of the USD and, consequently, the GBP/USD currency pair.

Price Action:

The GBP/USD H4 chart currently shows that the price is testing a significant resistance level. GBPUSD candlestick formations around this resistance zone indicate a potential weakness in the bearish momentum on this pair’s price movement, suggesting a possible reversal or consolidation. Traders should watch for confirmation of this resistance holding or breaking to determine the next directional move.

Key Technical Indicators:

Williams R%: The Williams % Range on GBPUSD is currently showing bearish conditions, hovering in the oversold territory. This suggests that the pair might be due for a pullback or consolidation before any further bearish movement.

MACD: The Moving Average Convergence Divergence (MACD) on this forex pair shows bearish signals with the histogram below the zero line and the MACD line below the signal line, indicating ongoing bearish momentum.

Support and Resistance Levels:

Support: The lower points of the recent candles around 1.27650 serve as the immediate support level.

Resistance: The upper line of the former bearish channel around 1.26870 acts as a resistance level.

Conclusion:

Traders should closely monitor both the upcoming economic news and the GBP/USD reaction at the 1.27640 resistance level. A failure to break through could confirm the bearish price prediction, leading to potential short opportunities. Conversely, a strong push above this level could invalidate the bearish scenario for this pair. Given these dynamics, it's essential to stay updated with the latest economic reports and adjust strategies accordingly to navigate the volatile forex market effectively.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FxGlory
12.06.2024

USDCAD Technical and Fundamental Analysis for 17.06.2024 (http://"http://https://fxglory.com/2024/06/17/usdcad-h4-technical-and-fundamental-analysis-17-06-2024/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
USDCAD is influenced by several economic factors from both the US and Canada. For the USDCAD news forecast today, the focus is on the Empire State Manufacturing Index from the US, which is forecasted to be -12.5. This high-impact data could significantly affect the US Dollar if the actual figure deviates from expectations, indicating either a strengthening or weakening of the manufacturing sector in New York. On the Canadian side, Housing Starts are forecasted at 247K and Foreign Securities Purchases at 12.30B. Both these low-impact data points provide insights into Canada's economic health, with better-than-expected figures potentially strengthening the CAD. Monitoring the USDCAD news analysis today live is crucial for understanding the impact of these data releases.

Price Action:
The H4 chart for USDCAD indicates a recent period of volatility with significant price swings. The technical analysis today, shows the pair has been moving within an ascending channel, suggesting an overall bullish trend. However, recent candles show mixed sentiment with both bullish and bearish pressures evident. The price is currently above the Ichimoku cloud, indicating potential support, while resistance levels are being tested frequently.

Key Technical Indicators:
Ichimoku Cloud: The price is trading above the Ichimoku cloud, suggesting a bullish sentiment. The cloud's future projection is flat, indicating potential consolidation or a slowdown in the upward momentum.
MACD (Moving Average Convergence Divergence): The MACD histogram is slightly positive, with the MACD line crossing above the signal line, indicating a bullish momentum. However, the difference between the two lines is minimal, suggesting cautious optimism.
RSI (Relative Strength Index): The RSI is at 49.18, close to the neutral 50 level, indicating neither overbought nor oversold conditions. This suggests that the market could move in either direction depending on upcoming data releases or market sentiment.

Support and Resistance:
Support Levels: Immediate support is at 1.36991, aligned with the lower boundary of the ascending channel and Ichimoku cloud.
Resistance Levels: The resistance is observed at 1.37408, which coincides with recent highs and the upper boundary of the channel.

Conclusion and Consideration:
The USDCAD pair on the H4 chart presents a cautious bullish outlook with key support and resistance levels closely watched. The indicators suggest a potential continuation of the upward trend, provided the price remains above the Ichimoku cloud and the MACD stays positive. Traders should monitor today's economic releases, particularly the Empire State Manufacturing Index, for cues on market direction. Appropriate risk management, including setting stop-loss levels near support at 1.36991, is advised given the potential volatility from the upcoming data.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
17.06.2024

EURUSD H4 Technical and Fundamental Analysis for 18.06.2024 (http://"https://fxglory.com/2024/06/18/eurusd-h4-technical-and-fundamental-analysis-for-18-06-2024/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD news analysis today is influenced by various macroeconomic factors and central bank policies. Currently, the European Central Bank (ECB) is considering interest rate adjustments, with potential cuts on the horizon due to concerns about economic growth. On the other hand, the Federal Reserve (FOMC) is tackling inflation, with recent retail sales data indicating a potential increase. These diverging paths are crucial in understanding the EUR/USD dynamics. The ECB's dovish stance may weaken the euro, while positive U.S. economic data could strengthen the dollar.

Price Action:
The EUR/USD H4 chart indicates that the price is recovering from a recent downtrend. The price action shows higher highs and higher lows, suggesting a bullish reversal. The EURUSD technical analysis today shows the pair is currently trading within an ascending channel, with immediate resistance around 1.0745 and support at 1.0700. The recent bullish candles indicate strong buying pressure, but traders should be cautious of potential resistance levels.

Key Technical Indicators:
Ichimoku Cloud: The price is below the Ichimoku Cloud, indicating a bearish sentiment. However, the recent upward movement suggests a potential challenge to the cloud's lower boundary.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, and the histogram shows negative values, indicating bearish momentum. However, the convergence of the lines suggests a possible bullish crossover.
RSI (Relative Strength Index): The RSI is around 48.18, which is neutral. It indicates that the market is not yet overbought or oversold, providing room for further price movement.

Support and Resistance:
Support Levels: Immediate support is at 1.0700, which aligns with the lower boundary of the ascending channel. Additional support is found at 1.0680.
Resistance Levels: Immediate resistance is at 1.0745, followed by the upper boundary of the ascending channel. Further resistance can be seen at 1.0785, near the Ichimoku Cloud.

Conclusion and Consideration:
The EUR/USD forecast live is showing signs of a potential bullish reversal on the H4 timeframe, supported by higher lows and higher highs within an ascending channel. Traders should monitor the key resistance levels at 1.0745 and 1.0785 for a potential breakout. The RSI and MACD indicators suggest that the market is in a neutral to slightly bearish phase, but the convergence in MACD hints at possible bullish momentum. Fundamental factors, such as ECB and FOMC policies, will continue to play a significant role in the pair's movement. Traders should implement risk management strategies, considering the volatile nature of the forex market.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
18.06.2024

NZDCAD H4 Technical and Fundamental Analysis for 19.06.2024 (https://fxglory.com/2024/06/19/nzdcad-analysis-for-19-06-2024-cloned-24062/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The NZD/CAD news analysis today highlights the impact of various economic factors and central bank policies. The Reserve Bank of New Zealand (RBNZ) has recently adopted a more dovish stance due to concerns over economic growth, while the Bank of Canada (BoC) is focusing on inflation control, supported by recent positive economic data. These divergent approaches are key to understanding the NZD/CAD dynamics. The RBNZ’s dovish tone could weaken the NZD, whereas the BoC’s hawkish policies might strengthen the CAD.

Price Action:

The NZD/CAD H4 chart reveals a market that was initially bearish but has shown signs of a bullish reversal after a Change of Character (CHOCH). The price action demonstrates a shift from lower lows to higher highs, confirming the trend reversal. The current price suggests a bullish trend with a target set above the previous order block. For further confirmation, we use the RSA Parabolic indicator, where the dots below the candles indicate a buy signal.

Key Technical Indicators:

RSA Parabolic:

The dots below the candlesticks provide a clear buy signal, suggesting bullish momentum. This indicator is essential for confirming the trend reversal and potential upward movement.

Support and Resistance:

Support Levels:

Immediate support is at 0.8410, aligning with the recent lows. Additional support can be found at 0.8380.

Resistance Levels:

Immediate resistance is at 0.8450, followed by significant resistance at 0.8480 and 0.8500.

Conclusion and Consideration:

The NZD/CAD chart forecast is bullish, as indicated by the recent CHOCH and supporting technical indicators. Traders should consider going long, targeting the order block levels mentioned above. The NZDCAD forecast is strengthened by the bullish signals from the RSA Parabolic. Fundamental factors, such as the policies of RBNZ and BoC, will continue to influence the pair’s movements. Traders should use risk management strategies and be mindful of the volatile nature of the forex market. Staying updated with the latest NZD CAD analysis on TradingView and monitoring NZD CAD news analysis can provide further insights.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
19.06.2024

GBPUSD H4 Technical and Fundamental Analysis for 20.06.2024 (https://fxglory.com/2024/06/20/gbpusd-h4-technical-and-fundamental-analysis-for-20-06-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The GBP/USD news analysis today is influenced by a variety of fundamental factors including economic indicators from both the UK and the US. Upcoming key events include the Bank of England's Monetary Policy Committee meeting minutes and US unemployment claims. The BOE's stance on interest rates and the MPC's vote distribution will provide insight into future monetary policy, which is crucial for currency valuation. In the US, unemployment claims are expected to be around 235K, with lower actual figures generally being positive for the USD. Additionally, housing data and manufacturing indices from the US will provide further economic context that can impact the pair.

Price Action:

The GBP/USD H4 chart shows a recent bullish trend within a rising channel, with prices attempting to break above the resistance level at 1.27391. The GBP/USD technical analysis today shows the pair has been making higher lows, indicating buying interest. However, the bullish momentum appears to be facing challenges at the current resistance, leading to potential consolidation or a pullback if the resistance holds firm.

Key Technical Indicators:

Bollinger Bands:

The price is approaching the upper Bollinger Band, indicating that the currency pair might be entering an overbought territory. This can act as a dynamic resistance level.

Stochastic Oscillator:

The Stochastic oscillator is at 46.48, approaching the overbought threshold. This can signal that a price correction might be imminent if the overbought level is reached.

RSI (Relative Strength Index):

The RSI is at 49.94, suggesting a neutral to slightly bullish momentum. This indicates that there is still room for the price to move higher before hitting overbought conditions.

Support and Resistance:

Support Levels:

Immediate support is at 1.27045, with a stronger support level at 1.26780.

Resistance Levels:

Immediate resistance is at 1.27391. A break above this level could target higher resistances within the rising channel.

Conclusion and Consideration:

The GBP/USD forecast today depicts the pair to be exhibiting bullish tendencies within a rising channel, supported by neutral to bullish RSI and Stochastic indicators. Traders should watch for a breakout above the resistance at 1.27391 to confirm continued bullish momentum. Given the upcoming fundamental events, particularly from the Bank of England and US economic data, traders should stay vigilant as these can cause significant volatility. Setting appropriate stop-loss levels and monitoring key support and resistance zones is crucial in managing risk.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
20.06.2024

EURCAD Daily Technical and Fundamental Analysis for 21.06.2024 (http://"https://fxglory.com/2024/06/21/eurcad-daily-technical-and-fundamental-analysis-for-21-06-2024/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/CAD currency pair reflects the exchange rate between the Euro (EUR) and the Canadian Dollar (CAD). Today, the market expects several news releases for both currencies. For the EUR, significant events include the German Flash Manufacturing PMI (forecasted at 46.4) and the French Flash Services PMI (forecasted at 50.0), both indicating varying degrees of economic activity. Additionally, speeches from key officials like German Buba President Nagel and ECOFIN meetings could provide further market direction. For the CAD, the focus will be on the Core Retail Sales m/m (forecasted at 0.5%) and Retail Sales m/m (forecasted at 0.7%), which are essential indicators of consumer spending and economic health.

Price Action:
Analyzing the EURCAD H4 chart, the pair has shown a sharp bearish trend. The last five bearish candles have driven the price down from the 50.0 Fibonacci retracement line towards the 23.6 Fibonacci retracement line, with the latest candle being green and bullish, indicating a potential pullback. This recent bullish candle at the 23.6 Fibonacci level suggests that this support level might hold, at least in the short term.

Key Technical Indicators:
Ichimoku Cloud: The Ichimoku Cloud indicator shows that the EUR-CAD forex pair is currently in a bearish trend. The price is below the Kumo (cloud), indicating a bearish bias. The Tenkan-sen (red line) and Kijun-sen (blue line) lines are both above the price, reinforcing the bearish outlook. The Senkou Span A and B (cloud boundaries) are also indicating resistance ahead.
Williams %R: The Williams %R (14) is currently at -94.54, which is in the oversold territory. This suggests that the pair might be due for a short-term rebound or consolidation as the selling pressure may have been exhausted.
Bears Power (13): The Bears Power indicator shows negative values, indicating that the sellers are still in control. However, the indicator has shown a slight uptick recently, which could suggest that the bearish momentum is weakening slightly.

Support and Resistance:
Support: The immediate support level is at the 23.6% Fibonacci retracement line (1.4645), which coincides with the recent green candle and could act as a strong support level.
Resistance: The nearest resistance level is at the 38.2% Fibonacci retracement line (1.4710), which aligns with a previous consolidation area and could pose a challenge for the bulls if the price attempts to recover.

Conclusion and Consideration:
The EURCAD pair on the H4 chart shows a strong bearish momentum supported by the Ichimoku Cloud, %R14, and Bears Power indicators. The recent bearish candles indicate that the selling pressure is still present, but the oversold condition of %R14 and the latest bullish candle suggest a possible short-term pullback or consolidation at the 23.6% Fibonacci retracement level. Traders should watch the key support and resistance levels closely, as any breach could indicate the next potential move. Given the upcoming economic releases and speeches, increased volatility can be expected, and traders should stay updated with the latest information.

Disclaimer: The EURCAD technical and fundamental analysis provided is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FXGlory
21.06.2024

USDCAD H4 Technical and Fundamental Analysis for 25.06.2024 (https://fxglory.com/2024/06/24/gbpchf-fundamental-and-technical-analysis-for-14-6-2024-cloned-24144/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD forex pair, representing the exchange rate between the US Dollar and the Canadian Dollar, is set to react to several key economic events today. At 1:30 pm, multiple CPI metrics for Canada are scheduled to be released, including the CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, and Core CPI m/m. The forecast for the CPI m/m is 0.3%, down from the previous 0.5%, while the Core CPI m/m forecast is 0.2%, slightly lower than the previous 0.5%. Any deviations from these forecasts could result in significant volatility for the CAD. A higher-than-expected CPI could strengthen the CAD as it may increase the likelihood of the Bank of Canada adopting a more hawkish stance. Conversely, lower-than-expected CPI readings could weaken the CAD.

Price Action:
Analyzing the USD/CAD H4 chart, the pair has been in a clear downtrend, characterized by lower highs and lower lows. The USD/CAD price has been moving within a descending channel, indicating sustained bearish momentum. Recently, the price has broken below the Ichimoku Cloud and is now trading near the lower boundary of the channel, indicating strong bearish sentiment.

Key Technical Indicators:
Ichimoku Cloud: USDCAD price is trading below the Ichimoku Cloud, indicating a strong bearish trend for this pair. The cloud itself is bearish, with the future cloud showing red, which suggests continued downward pressure. The Tenkan-sen and Kijun-sen lines are also indicating bearish momentum as they are positioned below the cloud.
MACD: The MACD line is below the signal line, and the histogram is in negative territory, which confirms the bearish trend on exchange rate between these currencies. The MACD indicator suggests that selling pressure is still dominant, and there are no immediate signs of a bullish reversal.
RSI: The RSI is currently at 32.87, indicating bearish momentum and that the pair is approaching oversold conditions. This suggests that while the bearish trend is strong, there might be a potential for a short-term corrective bounce.

Support and Resistance Levels:
Support: Immediate support is found at 1.36400. A break below this level could see the pair heading towards the next support at 1.3600.
Resistance: The nearest resistance level is at 1.36730. Above this, resistance is found at 1.36880.

Conclusion and Consideration:
The USD/CAD pair on the H4 chart shows strong bearish momentum, supported by the Ichimoku Cloud, MACD, and RSI indicators. Traders should watch for potential volatility around the release of the Canadian CPI data. While the overall trend is bearish, the RSI suggests that the pair might be due for a short-term bounce from oversold conditions. Caution is advised as fundamental news could lead to sharp movements.

Disclaimer: The analysis provided is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FXGlory
25.06.2024

EURUSD H4 Technical and Fundamental Analysis for 27.06.2024 (https://fxglory.com/2024/06/27/eurusd-h4-technical-and-fundamental-analysis-for-27-06-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD news analysis today is influenced by significant economic indicators and news releases. For the Euro, the M3 Money Supply and private loans data provide insights into economic health and lending trends within the Eurozone. For the US Dollar, today's high-impact news includes the Final GDP q/q, expected at 1.4%, and Unemployment Claims forecasted at 236K. Stronger-than-expected GDP growth and lower unemployment claims are likely to support the USD, while weaker data could benefit the Euro. Additionally, medium-impact releases such as Core Durable Goods Orders and Durable Goods Orders will further influence the EUR/USD market sentiment and direction.

Price Action:
The EUR/USD H4 chart exhibits a bearish trend for the pair, with the price making lower highs and lower lows. The pair has recently been trading below the Ichimoku Cloud, indicating sustained bearish momentum. The “Fiber’s” price action shows a potential descending triangle pattern, which could signal further downside if support levels are breached.

Key Technical Indicators:
Ichimoku Cloud: The price is below the Ichimoku Cloud, suggesting a bearish trend. The future cloud is also red, indicating potential continued bearish sentiment.
RSI (Relative Strength Index): The RSI is currently at 35.96, indicating that the pair is approaching oversold territory. This could suggest a potential for a short-term reversal if the RSI dips further but fails to break the oversold threshold.

Support and Resistance:
Support Levels: The immediate support level is at 1.06650, followed by a secondary support at 1.06550.
Resistance Levels: The nearest resistance is at 1.07139, with further resistance at 1.07640 and 1.08000.

Conclusion and Consideration:
The EUR/USD forecast live shows strong bearish momentum, as evidenced by the position below the Ichimoku Cloud and the descending RSI. Traders should monitor the key support level at 1.06650; a breach below this level could signal further downside. Conversely, if the RSI indicates oversold conditions, a short-term bounce to the resistance levels could occur. Fundamental factors, including today's economic releases, will play a crucial role in determining the pair's direction. Proper risk management, including setting stop losses, is essential due to potential market volatility around high-impact news.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
27.06.2024

USDJPY H4 Technical and Fundamental Analysis (https://fxglory.com/2024/06/28/usdjpy-h4-technical-and-fundamental-analysis/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDJPY currency pair reflects the exchange rate between the US Dollar (USD) and the Japanese Yen (JPY). Today's upcoming USD news includes several low to medium impact events such as speeches by FOMC members and data on Personal Income and Spending. Notably, the Core PCE Price Index, forecasted at 0.1%, is a crucial inflation measure for the Fed. These indicators may provide insights into future US monetary policy, potentially influencing USD volatility. For JPY, the medium impact Tokyo Core CPI is forecasted at 2.0%, and other low impact data such as Unemployment Rate, Industrial Production, and Housing Starts are expected, which could affect the JPY's performance.

Price Action:
The USDJPY pair on the H4 timeframe is experiencing a clear bullish trend, with the price reaching its highest level since 2010. The price action shows a consistent upward movement as the candles move from the lower to the middle and now the upper Bollinger Bands, indicating strong bullish momentum. Recently, the price has been moving upwards steadily, supported by a positive trend in the market.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR indicator shows the last three dots positioned below the candles, confirming a bullish trend. This placement indicates continued upward momentum, suggesting traders might look for buy opportunities as long as the dots remain under the price.
MACD: The MACD indicator shows the MACD line crossing above the signal line with the histogram displaying increasing momentum. This bullish crossover suggests strengthening upward momentum, which supports the ongoing bullish trend in the USDJPY pair.
Moving Averages: The short-term Moving Average (9-period, blue) has crossed above the long-term Moving Average (17-period, orange), both moving upwards. This crossover is a bullish signal, indicating that the short-term price trend is gaining strength relative to the long-term trend.

Support and Resistance:
Support: Immediate support is located at 1.36600, aligning with a recent consolidation area and the middle Bollinger Band.
Resistance: The nearest resistance level is at 1.37481, which coincides with the 0.382 Fibonacci level and recent highs.

Conclusion and Consideration:
The USDJPY pair on the H4 chart shows sustained bullish momentum, supported by the Parabolic SAR, MACD, and Moving Averages indicators. The current price action within an ascending channel indicates that the bulls are in control, with potential further gains as indicated by the key technical indicators. However, traders should remain cautious due to potential increased volatility from the upcoming economic data releases and speeches from key officials. It is essential to monitor these events closely as they could significantly impact market conditions.

Disclaimer:
The provided analysis of USDJPY is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and staying updated with the latest information is crucial for informed trading decisions.

FXGlory
28.06.2024

GBPUSD H4 Technical and Fundamental Analysis for 01.07.2024 (https://fxglory.com/2024/07/01/gbpusd-h4-technical-and-fundamental-analysis-for-01-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The GBP/USD news analysis today is influenced by various economic indicators and geopolitical factors. Recently, the pair's performance has been under pressure due to a stronger US Dollar driven by positive economic data, including expectations for the upcoming Final Manufacturing PMI and ISM Manufacturing PMI. The UK's economic outlook remains uncertain amidst concerns over inflation and slower-than-expected economic growth. Bank of England’s monetary policy and the broader macroeconomic environment continue to play pivotal roles. The USD has shown resilience due to the Federal Reserve's hawkish stance, while the GBP faces headwinds from domestic economic challenges and Brexit-related uncertainties.

Price Action:

The GBP/USD H4 chart shows that the “Cable” has been in a bearish trend, evident from the price moving below the Ichimoku Cloud. The pair recently attempted a minor recovery but encountered strong resistance at key levels. The downward trendline in the pair’s technical analysis today further confirms bearish momentum, with lower highs and lower lows being formed.

Key Technical Indicators:

Ichimoku Cloud:

The price is trading below the Ichimoku Cloud, indicating a prevailing bearish trend. The cloud itself acts as a significant resistance zone.

RSI (Relative Strength Index):

The RSI is currently at 50.63, suggesting a neutral to slightly bearish momentum. It indicates that the market is not overbought or oversold, leaving room for potential downward movement.

Support and Resistance:

Support Levels:

Immediate support is observed at 1.26314, followed by a stronger support level at 1.25670. These levels are crucial for maintaining the bearish structure.

Resistance Levels:

The nearest resistance is at 1.26538, with a more significant resistance level at 1.26850. Breaking above these levels could signal a potential trend reversal.

Conclusion and Consideration:

The GBP/USD forecast today on the H4 chart continues to exhibit a bearish trend for the pair, with key indicators and price action supporting this outlook. Traders should monitor the support levels closely, as a break below 1.26314 could lead to further declines towards 1.25670. Conversely, a sustained break above 1.26538 may challenge the bearish trend, but significant resistance lies at 1.26850. The Cable’s fundamental factors of the day, such as economic data releases from both the UK and the US, will be crucial in determining the pair's next move. Risk management strategies, including appropriate stop-loss levels, are essential given the current market volatility.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
01.07.2024

EURUSD H4 Technical and Fundamental Analysis for 02.07.2024 (https://fxglory.com/2024/07/01/eurusd-h4-technical-and-fundamental-analysis-for-02-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD forex pair, representing the exchange rate between the Euro and the US Dollar, is influenced by significant economic data from both the Eurozone and the United States. Recent PMI data from the Eurozone showed improvements, with the Italian Manufacturing PMI at 45.7, French Final Manufacturing PMI at 45.4, and the overall Eurozone Final Manufacturing PMI at 45.8, all surpassing their forecasts. Meanwhile, US economic data revealed mixed results, with the Final Manufacturing PMI at 51.6, ISM Manufacturing PMI at 48.5 below expectations, and ISM Manufacturing Prices and Construction Spending showing weaker figures. These data points suggest a potential advantage for the Euro in the near term.

Price Action:
Analyzing the EUR/USD H4 chart, the pair has broken above its bearish trend line, signaling a potential shift in market sentiment. The price reacted to the 23.6% Fibonacci retracement level of the previous bearish wave and appears poised to continue its bullish run. The breakout above the trend line and the Fibonacci level indicates strong bullish momentum.

Key Technical Indicators:
Fibonacci Retracement Levels: The price reacted at the 23.6% Fibonacci level and is expected to continue upwards. The next levels to watch are the 38.2% and 50% retracement levels, which could act as resistance.
MACD: The MACD line is crossing above the signal line, suggesting bullish momentum. This crossover is a typical bullish signal, indicating potential upward movement in the near term.

Support and Resistance Levels:
Support: The immediate support level is around 1.0700. A break below this level could lead the pair to test the next support at 1.0650.
Resistance: The nearest resistance is at 1.0780, followed by a stronger resistance level at 1.0840.

Conclusion and Consideration:
The EUR/USD pair on the H4 chart displays a bullish outlook, supported by the breakout above the bearish trend line and the bullish signals from the MACD indicator. The reaction at the 23.6% Fibonacci level suggests potential for further upward movement. Traders should monitor these levels closely and watch for any fundamental news that might impact the pair, especially economic data releases from the Eurozone and the United States.

Disclaimer: The analysis provided is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FXGlory
02.07.2024

EURAUD H4 Technical and Fundamental Analysis for 07.03.2024 (https://fxglory.com/2024/07/03/euraud-h4-technical-and-fundamental-analysis-for-07-02-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The EUR/AUD news analysis, often influenced by economic indicators and policy decisions from both the Eurozone and Australia, sees varying volatility based on such releases. Recent data from the Australian Bureau of Statistics show a promising increase in retail sales and new building approvals, suggesting a potential boost in economic activities that may strengthen the Australian Dollar. On the European front, the French Treasury reports a budget surplus and upcoming PMI data indicate healthy service sector growth. These factors collectively enhance the fundamental landscape, offering a mixed outlook for the EUR/AUD forecast today as both currencies find robust support from their respective economies.

Price Action:

The EUR/AUD H4 chart depicts a consolidation phase within a rising channel, indicating a bullish undercurrent tempered by recent hesitations in price movements. The currency pair has consistently tested the channel’s support and resistance boundaries, with the latest of the pair’s technical analysis hinting at a slight bearish retracement from the upper channel line. This typical reaction at upper resistance levels may lead to short-term pullbacks but maintains the overall upward trend.

Key Technical Indicators:

Ichimoku Cloud:

The price is currently trading within the Ichimoku Cloud. This positioning indicates a neutral zone where buying and selling pressures are balanced, but also suggests potential volatility as the price tests the cloud’s boundaries for either a breakout or a rejection.

RSI (Relative Strength Index):

The RSI on the chart is near 51.38, indicating a neutral momentum with neither overbought nor oversold conditions, suggesting that there is room for the price to move in either direction without immediate pressure from momentum extremes.

Stochastic Oscillator:

The Stochastic lines are converging around the 30 level, which typically signals a potential upward reversal if they turn upwards, marking a key watch-out for buyers.

Support and Resistance:

Support Levels:

The immediate support is visible at the lower boundary of the trading channel and further strengthened by another support near 1.60745, which previously acted as both support and resistance.

Resistance Levels:

The upper channel line currently acts as the primary resistance level, with further resistance potentially forming near recent highs at around 1.62500.

Conclusion and Consideration:

As the EUR/AUD analysis today navigates through significant economic releases, the technical setup favors a cautiously bullish outlook with considerations for potential pullbacks. Traders should remain alert to breaking above the cloud or a reversal at key support levels. Monitoring upcoming economic indicators will be crucial in guiding short-term trading strategies.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
07.03.2024

EURGBP H4 Technical and Fundamental Analysis for 07.04.2024 (https://fxglory.com/wp-content/uploads/2024/07/EURGBP_H4_Chart_Daily_Technical_and_Fundamental_Analysis_for_07-1024x524.webp)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The EUR/GBP news analysis today is influenced by various fundamental factors. For the Euro, industrial orders and bond yields within the Eurozone play a significant role, reflecting economic activity and investor confidence. In the UK, the focus is on the general election outcomes and PMI data, which indicate economic health and conditions within the construction industry. The upcoming UK general election is particularly crucial as it could shift economic policies and investor sentiment. Concurrently, the Eurozone's bond yields and industrial orders data provide insights into economic trends and production outlooks, which are vital for the EUR/GBP dynamics.

Price Action:

The EUR/GBP H4 chart shows the pair trading within an ascending channel, indicating the bullish trend of the pair over the medium term. However, Chunnel’s recent price action demonstrates a pullback towards the lower boundary of the channel, suggesting possible consolidation or a correction phase. The price is currently hovering around the support level of 0.84615, with a resistance level noted at 0.84751. A break below the support could indicate further bearish momentum, while a bounce back could signal a continuation of the bullish trend within the channel.

Key Technical Indicators:

Ichimoku Cloud:

The Ichimoku Cloud analysis shows the price broke through the cloud and, after a bearish trend, is heading back towards the cloud but is not within it yet. The Tenkan-sen below the Kijun-sen and the Chikou Span being below the price indicate continued bearish sentiment.

RSI (Relative Strength Index):
The RSI is at 42.80, indicating a moderately bearish sentiment. It is not yet in the oversold territory, implying that there could be more room for the price to decline before a reversal is expected.

MACD (Moving Average Convergence Divergence):

The Stochastic lines are converging around the 30 level, which typically signals a potential upward reversal if they turn upwards, marking a key watch-out for buyers.

Support and Resistance:

Support Levels:

The immediate support level is at 0.84615. A break below this level could lead to further declines towards the lower boundary of the ascending channel.

Resistance Levels:

The resistance level is at 0.84751. A break above this level could indicate a continuation of the bullish trend towards the upper boundary of the ascending channel.

Conclusion and Consideration:

The EUR/GBP H4 chart forecast today presents a mixed outlook, with current bearish momentum but within a longer-term ascending channel. Traders should closely monitor the support level at 0.84615 and the resistance level at 0.84751 for potential breakouts. Given the indicators like the Ichimoku Cloud and RSI, there is a possibility of further decline, but the proximity to the cloud suggests potential stabilization. Traders should also keep an eye on fundamental data from the Eurozone and the UK, as these will significantly impact market sentiment and price action.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
07.04.2024

USDCAD Daily Technical and Fundamental Analysis for 05.07.2024
(http://"https://fxglory.com/2024/07/05/usdcad-daily-technical-and-fundamental-analysis-for-05-07-2024/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD currency pair reflects the exchange rate between the US Dollar (USD) and the Canadian Dollar (CAD). Today, the USD is set to be influenced by several key economic data releases, including Average Hourly Earnings, Non-Farm Employment Change, and the Unemployment Rate. These high-impact events are crucial as they provide insights into labor market conditions and inflation, likely causing significant USD volatility. On the CAD side, the Employment Change and Unemployment Rate data are also due, which are essential indicators of economic health and could influence the CAD's strength.

Price Action:
The USD/CAD pair on the H4 timeframe is in a clear bearish trend. The price is moving within the lower half of the Bollinger Bands, indicating sustained downward momentum. Despite occasional bullish corrections, the overall trend remains negative. Recent candles show a steady decline, aligning with the general bearish sentiment.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands have been widening, indicating increasing market volatility. The price has been predominantly in the lower half of the bands, which reinforces the bearish trend. The price nearing the lower band suggests potential oversold conditions, but the trend remains downward.
MACD (Moving Average Convergence Divergence): The MACD is in bearish territory, with the MACD line below the signal line and a negative histogram. This setup confirms the ongoing bearish momentum and suggests further downward movement unless a bullish crossover occurs.
RSI (Relative Strength Index): The RSI is currently around 31, approaching the oversold region. This low RSI value indicates that the price could be due for a short-term corrective bounce, but the overall bearish trend remains dominant.

Support and Resistance:
Support: Immediate support is at 1.3600, a key psychological level and recent low. Further support is at 1.3500, another significant level observed on longer timeframes.
Resistance: Immediate resistance is at 1.3700, aligning with the 23.6% Fibonacci retracement level. Additional resistance is at 1.3750, near the 38.2% Fibonacci level.

Conclusion and Consideration:
The USD/CAD pair on the H4 chart shows a strong bearish trend supported by key technical indicators such as Bollinger Bands, MACD, and RSI. The increasing volatility and bearish momentum suggest caution for traders looking to enter long positions. Upcoming high-impact economic data from both the US and Canada could introduce significant volatility, making it crucial for traders to stay informed and ready to react to new information.

Disclaimer: The analysis provided is for informational purposes only and does not constitute investment advice. Traders should perform their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FXGlory
05.07.2024

EURUSD H4 Technical and Fundamental Analysis for 07.08.2024 (https://fxglory.com/2024/07/08/eurusd-h4-technical-and-fundamental-analysis-for-07-08-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The EUR/USD news analysis today is influenced by a variety of fundamental factors, including macroeconomic data, central bank policies, and geopolitical events. For the Euro, upcoming reports such as the German Trade Balance and Sentix Investor Confidence are low-impact but can provide insights into economic health. A higher-than-expected trade balance could be positive for the Euro, suggesting robust export activity. Similarly, a Sentix Investor Confidence reading above expectations could indicate optimism about the Eurozone economy. For the USD, the Consumer Credit m/m data is expected to be a low-impact release, but higher consumer credit could signal confidence in financial stability and spending power, potentially supporting the USD.

Price Action:

The EUR/USD H4 chart shows a visible bullish trend for the pair with the price moving within an ascending channel. The Fiber’s price action shows higher highs and higher lows, indicating bullish momentum. The pair has tested and pulled back from the upper boundary of the channel, suggesting a potential consolidation or retracement before continuing its upward movement.

Key Technical Indicators:

Ichimoku Cloud:

The price is above the Ichimoku Cloud, indicating a bullish trend. The Tenkan-sen (red line) and Kijun-sen (blue line) are both pointing upwards, which supports the bullish outlook. The Chikou Span (lagging line) is above the price, further confirming the bullish trend.

RSI (Relative Strength Index):
The RSI is currently at 67.63, close to the overbought territory (70). This suggests that while there is strong bullish momentum, the pair may be nearing an overbought condition, which could lead to a short-term correction.

MACD (Moving Average Convergence Divergence):
MACD line above the signal line, indicating sustained bullish momentum. The upward trajectory of the MACD lines supports the potential for further gains.

Support and Resistance:

Support Levels:
Immediate support is at the 1.08015 level, which aligns with the lower boundary of the ascending channel and the Kijun-sen.

Resistance Levels:
The nearest resistance is at 1.08375, marked by the recent high. A break above this level could see the price testing higher resistance around 1.08640.

Conclusion and Consideration:

The EUR/USD pair on the H4 chart is in a clear uptrend, supported by the Ichimoku Cloud, RSI, and MACD indicators. The bullish momentum of the pair appears strong, but the RSI suggests the pair may be approaching an overbought condition, which could lead to a short-term pullback. Traders should watch for a break above the 1.08375 resistance level for confirmation of continued bullish movement. Key economic data releases for both EUR and USD should be monitored as they can influence market sentiment and price action. Proper risk management strategies, such as setting stop losses near support levels, are essential in managing potential market volatility.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
07.08.2024

AUDUSD H4 Technical and Fundamental Analysis for 07.09.2024 (https://fxglory.com/2024/07/08/audusd-h4-technical-and-fundamental-analysis-for-07-09-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUD/USD news analysis today is influenced by a combination of economic indicators and geopolitical factors. For the Australian dollar, key factors include the Westpac Consumer Sentiment Index and the NAB Business Confidence survey. Both indicators reflect the economic health and confidence levels within Australia, affecting the currency's strength. Additionally, the upcoming testimony from Federal Reserve officials and other USD-related economic data, such as the NFIB Small Business Index, will significantly impact the US dollar. Statements from Federal Reserve members can provide insights into future monetary policy, influencing the USD and, consequently, the AUD/USD forecast today.

Price Action:
The AUD/USD H4 chart is displaying an uptrend characterized by higher highs and higher lows. The price has been moving within an ascending channel, currently consolidating near the upper boundary. This indicates that the bullish momentum of the “Aussie” is still intact, but the pair is facing some resistance. The price action of the pair suggests a potential breakout above the current resistance levels if the bullish pressure persists.

Key Technical Indicators:
Ichimoku Cloud:
The price is trading above the Kumo (cloud), indicating a bullish trend. The Senkou Span A is above Senkou Span B, further supporting the bullish sentiment.
RSI (Relative Strength Index):
The RSI is currently at 58.79, which is in the bullish territory but not overbought. This suggests there is still room for the price to move higher.
Stochastic Oscillator:
The Stochastic (5, 3, 3) is at 21.83, indicating that the pair might be oversold in the short term, potentially leading to a reversal or continuation of the bullish trend if it crosses above 20.

Support and Resistance:
Support Levels:
The nearest support level is at 0.67126, followed by a more substantial support at 0.66892.
Resistance Levels:
The immediate resistance level is at 0.67355, with a significant resistance level at 0.67515, which aligns with the upper boundary of the ascending channel.

Conclusion and Consideration:
The AUD/USD technical analysis today shows the pair’s strong bullish trend on the H4 chart, supported by the Ichimoku cloud analysis and the current position of the RSI. The Stochastic indicator suggests potential short-term oversold conditions, which might lead to a continuation of the bullish trend if the pair finds support at current levels. Traders should monitor key support and resistance levels, especially the 0.67355 and 0.67515 resistance levels, for potential breakout opportunities. Given the upcoming economic data releases and speeches from Federal Reserve officials, traders should remain cautious and employ proper risk management strategies.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
07.09.2024

EUR/USD H4 Technical and Fundamental Analysis for 07.10.2024 (https://fxglory.com/2024/07/10/eur-usd-h4-technical-and-fundamental-analysis-for-07-10-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The EUR/USD forex pair analysis is currently influenced by several economic indicators and geopolitical factors. For the Euro, key influences include the latest European Central Bank (ECB) meeting minutes and upcoming economic data releases such as the ZEW Economic Sentiment Index and Eurozone Industrial Production figures. These indicators reflect the economic health of the Eurozone, which in turn affects the Euro's strength. On the US side, recent speeches from Federal Reserve officials and USD-related economic data, including inflation rates and jobless claims, play a significant role. The Fed's stance on monetary policy continues to be a critical driver for the USD, impacting the EUR/USD forecast today.

Price Action:

The EUR/USD H4 chart is displaying a bullish trend characterized by the price recently breaking above the Ichimoku cloud. This bullish breakout signifies the potential for further upward movement. After a correction phase, EURUSD appears to be resuming its ascending trend. The price action predictions suggest that if the current bullish momentum persists, the pair could test and possibly break through the identified resistance levels.

Key Technical Indicators:

Ichimoku Cloud:

The price is trading above the Kumo (cloud), indicating a bullish trend and the Senkou Span A is above Senkou Span B, further supporting the bullish sentiment.

RSI (Relative Strength Index):

The RSI is currently at 55.80, which is in bullish territory but not overbought. This suggests there is room for the price to move higher.

Stochastic Oscillator:

The stochastic (5, 3, 3) is at 39.32, indicating that the pair might have potential for further upward movement before reaching overbought conditions.

Support and Resistance:

Support Levels:

The nearest support level is at 1.07970, followed by more substantial support at 1.07350.

Resistance Levels:

The immediate resistance level is at 1.08510, with a significant resistance level at 1.07350, which aligns with the upper boundary of the ascending channel.

Conclusion and Consideration:

The EUR/USD technical analysis today shows a strong bullish trend on the H4 chart, supported by the Ichimoku cloud analysis and the current position of the RSI. The Stochastic indicator suggests potential for continued upward movement, provided the pair finds support at current levels. Traders should monitor key support and resistance levels, particularly the 1.08510 and 1.08560 resistance levels, for potential breakout opportunities. Given the upcoming economic data releases and statements from Federal Reserve officials, traders should remain cautious and employ proper risk management strategies.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
07.10.2024

GBPUSD H4 Technical and Fundamental Analysis for 07.11.2024 (https://fxglory.com/2024/07/11/gbpusd-h4-technical-and-fundamental-analysis-for-07-11-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The GBP/USD news analysis today is influenced by various economic indicators and news events from both the United Kingdom and the United States. The UK economy is currently facing challenges related to inflation, GDP growth, and trade balance, while the US is experiencing fluctuations due to inflation data, employment figures, and Federal Reserve policies. Today's economic calendar for the USD includes high-impact events such as the Core CPI, CPI m/m, and CPI y/y reports, which are critical indicators of inflation and can significantly impact the USD's value. Additionally, the Unemployment Claims report is expected, which will provide insights into the US labor market. For the GBP, recent releases include GDP, construction output, and trade balance data, which collectively shape the market sentiment toward the GBP.

Price Action:

The GBP/USD H4 chart reveals the pair’s strong bullish trend with the Cable’s price action moving within an ascending channel. The pair has recently bounced off the lower boundary of the channel, indicating a potential continuation of the upward movement. The price is currently testing a key resistance level around 1.2850. A breakout above this level could lead to further gains, while a rejection might see the price retrace towards the support level.

Key Technical Indicators:

Ichimoku Cloud:

The price is above the kumo (cloud), indicating a bullish trend. The Tenkan-sen (red line) is above the Kijun-sen (blue line), further supporting the bullish momentum. The Chikou Span (green line) is also above the price, confirming the uptrend.

RSI (Relative Strength Index):

The RSI is currently at 72.63, indicating overbought conditions. This suggests that the price may face some resistance and could potentially see a pullback or consolidation before resuming its upward trend.

MACD (Moving Average Convergence Divergence):

The MACD histogram is positive, and the MACD line is above the signal line, indicating bullish momentum. This supports the continuation of the upward movement in the GBP/USD pair.

Support and Resistance:

Support Levels:

The nearest support level is at 1.2806, followed by a stronger support around 1.2700, which is aligned with the lower boundary of the ascending channel.

Resistance Levels:

The immediate resistance level is at 1.2850. If the price breaks above this level, the next significant resistance is around 1.2940.

Conclusion and Consideration:

The GBP/USD forecast today on the pair’s H4 chart is exhibiting strong bullish momentum, supported by positive signals from the Cable’s technical analysis today, and key indicators such as the RSI, Ichimoku Cloud, and MACD. Traders should monitor the price action around the 1.2850 resistance level for potential breakouts or reversals. Given the overbought condition indicated by the RSI, a pullback to support levels around 1.2806 or 1.2700 is possible before the pair resumes its upward trend. It's crucial to stay updated with the upcoming high-impact economic releases from the US, particularly the CPI reports and Unemployment Claims, as they can significantly influence the USD and, consequently, the pair itself.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
07.11.2024

USDCAD H4 Daily Fundamental and Technical Analysis for 12.07.2024
(http://"https://fxglory.com/2024/07/12/usdcad-h4-daily-fundamental-and-technical-analysis-for-12-07-2024/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDCAD forex pair represents the exchange rate between the US Dollar (USD) and the Canadian Dollar (CAD). Today, significant attention will be on USD due to high-impact economic releases including Core PPI (forecasted at 0.2%), PPI (forecasted at 0.1%), and Preliminary UoM Consumer Sentiment (forecasted at 68.5). These releases are crucial as they provide insights into producer inflation and consumer sentiment, which are leading indicators of overall economic activity. Positive figures can strengthen USD, leading to upward pressure on the USDCAD pair. On the CAD side, low impact is expected from the Building Permits m/m release, forecasted at -5.0%, which could show a slight downturn in construction activity.

Price Action:
The USDCAD H4 chart shows the price action moving within a defined range, with recent candles indicating consolidation. The price recently touched the support levels around 1.3580 before attempting a recovery. However, the bearish momentum appears to dominate, with resistance levels near 1.3687 acting as a barrier for further upward movement.

Key Technical Indicators:
Parabolic SAR (0.2): The last four dots of the Parabolic SAR have been under the candles, indicating a bullish reversal attempt. However, the overall trend remains uncertain as these signals often need confirmation from other indicators.
Ichimoku Cloud: The Ichimoku Cloud is red and has widened, indicating bearish momentum. The candles are positioned below the cloud, reinforcing the bearish sentiment in the market.
Volumes: Trading volume has shown fluctuations, with recent bars indicating lower activity, which may suggest a lack of strong buying interest or a consolidation phase before a potential breakout.
MACD: The MACD indicator shows the MACD line slightly below the signal line with a histogram indicating weak bearish momentum. This suggests that while the overall trend is bearish, there could be room for a short-term bullish correction.

Support and Resistance:
Support Levels: The immediate support is at 1.3580, followed by a stronger support level at 1.3579.
Resistance Levels: The key resistance levels are at 1.3687 (aligned with the 61.8% Fibonacci retracement level) and 1.3720.

Conclusion and Consideration:
The USDCAD pair is currently facing mixed signals. Fundamentally, USD has the potential for strengthening due to positive economic data, while CAD is expected to show minimal impact from the Building Permits release. Technically, indicators suggest bearish momentum but with signs of a potential short-term bullish correction. Traders should monitor the high-impact USD data releases closely as they are likely to influence the pair's direction significantly.

Disclaimer: The USDCAD provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis of USDCAD before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FXGlory
12.07.2024

EURUSD H4 Technical and Fundamental Analysis for 07.15.2024 (https://fxglory.com/2024/07/15/eurusd-h4-technical-and-fundamental-analysis-for-15-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The EUR/USD news analysis today is influenced by several fundamental factors. Recent data from Eurostat indicates changes in the industrial production of the Eurozone, with the latest figures showing a positive trend, suggesting economic recovery. The upcoming Eurogroup meeting could further impact the EUR/USD forecast today as finance ministers discuss economic policies. On the USD side, key events include the Empire State Manufacturing Index, which provides insights into business conditions in New York state, and speeches by Federal Reserve officials, including Jerome Powell and Mary Daly, which could provide clues about future monetary policy.

Price Action:

The EUR/USD H4 chart shows a consistent uptrend within a rising channel. The price has been making higher highs and higher lows, indicating the Fiber’s strong bullish trend. Currently, the pair’s price action shows that it is testing the upper boundary of the channel, suggesting potential resistance. A correction may occur before the pair continues its upward trajectory.

Key Technical Indicators:

Ichimoku Cloud:
The price is trading above the Ichimoku Cloud, indicating the bullish trend of the pair. The cloud itself is also rising, further supporting the bullish outlook. The conversion line (blue) is above the baseline (red), which is another bullish signal.

RSI (Relative Strength Index):
The RSI is at 63.47, which is in the bullish territory but not yet overbought. This suggests that there is still room for the price to move higher before hitting overbought conditions.

MACD (Moving Average Convergence Divergence):
The MACD line is above the signal line, and the histogram shows positive values, indicating bullish momentum. However, the histogram bars are decreasing, which may suggest a weakening in the bullish momentum.

Support and Resistance:

Support Levels:
The immediate support is at 1.0843, followed by a stronger support level at 1.0750.

Resistance Levels:
The immediate resistance is at 1.0987. If the price breaks above this level, the next target would be 1.1050.

Conclusion and Consideration:

The EUR/USD technical analysis today shows the Fiber’s strong bullish signs on the H4 chart, supported by key technical indicators like the Ichimoku Cloud, RSI, and MACD. While the RSI indicates there is still room for growth, traders should watch for potential resistance at the current levels. The pair’s Fundamental factors such as economic data releases from the Eurozone and the US, as well as comments from Federal Reserve officials, could impact the pair's movement. Traders should consider these events and use proper risk management techniques, including stop losses, given the potential for volatility.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
07.15.2024

EURCAD H4 Technical and Fundamental Analysis for 07.16.2024
(https://docs.google.com/spreadsheets/d/1qC0BsoOENMxrch5qDMiC1F6Jp5BZ7_7yUPESXfiNSa4/edit?gid=0#gid=0)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/CAD forecast today reflects the economic health and policy decisions of the Eurozone and Canada. For the Euro, upcoming data releases such as the IT Trade Balance, EZ Trade Balance, and ZEW Economic Sentiment Index are key indicators. Positive trade balance figures and optimistic sentiment from institutional investors can boost the Euro. Conversely, Canada's economic health is gauged by indicators like housing starts and various Consumer Price Index (CPI) measures. A higher-than-expected CPI may prompt a hawkish stance from the Bank of Canada, strengthening the CAD.

Price Action:
The EUR/CAD H4 chart is in a clear uptrend, characterized by higher highs and higher lows. The pair is currently trading above key support levels and is testing a significant resistance zone. The EUR/CAD price action indicates the pair’s strong bullish momentum, suggesting further potential upside.

Key Technical Indicators:
Parabolic SAR:
The Parabolic SAR dots are positioned below the current price, indicating an ongoing uptrend. This supports the bullish sentiment, suggesting the trend is likely to continue unless a significant reversal occurs.
RSI (Relative Strength Index):
The RSI is at 80.51, indicating overbought conditions. This suggests that the bullish momentum might be due for a correction, as the price has reached an extreme level. Traders should be cautious of potential pullbacks.
MACD (Moving Average Convergence Divergence):
The MACD histogram is positive, with the MACD line above the signal line. This bullish crossover signals strong upward momentum, confirming the uptrend in price action.

Support and Resistance:
Support Levels:
The nearest support is at 1.48143, with additional support at 1.47500. These levels are critical for maintaining the current uptrend.
Resistance Levels:
The pair is facing resistance at 1.48727 and a stronger resistance at 1.49300. A break above these levels could signal a continuation of the bullish trend.

Conclusion and Consideration:
The EUR/CAD H4 chart demonstrates its robust bullish signals, with the Parabolic SAR, MACD, and recent price action supporting further upside. However, the RSI indicates overbought conditions, suggesting a possible short-term pullback or consolidation. Traders should monitor key resistance levels for potential breakouts while setting stop losses near support levels to manage risk. The pair’s Fundamental news releases for both the Eurozone and Canada will be crucial in influencing market sentiment and price direction.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
07.16.2024

AUD/USD H4 Technical and Fundamental Analysis for 07.16.2024 (http://AUD/USD H4 Technical and Fundamental Analysis for 07.16.2024)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUD/USD forecast today is shaped by the economic health and policy decisions in both the United States and Australia. For the US, today's data releases include Building Permits and Housing Starts, both crucial indicators of the housing market's strength. Additionally, the Industrial Production m/m and Capacity Utilization Rate are key economic indicators to watch. Statements from FOMC Members Barkin and Waller, as well as the release of the Beige Book, will provide insights into the Fed's economic outlook and potential policy changes. Crude Oil Inventories will also be monitored, given their influence on market sentiment and the broader economy.

Price Action:
The AUD/USD H4 chart shows a mixed sentiment, with the price recently breaking below a significant support zone. Despite this, the pair has maintained a series of higher highs and higher lows, indicating a still-bullish trend overall. However, the recent break suggests potential for a trend reversal. Traders should closely monitor the price action for further signals of a change in trend.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI is currently at 46.54, slightly below the neutral 50 level, indicating weakening bullish momentum. This supports the potential for further bearish moves unless the RSI rebounds above 50.
MACD (Moving Average Convergence Divergence): The MACD histogram is negative, with the MACD line below the signal line. This bearish crossover confirms the downside risk indicated by the price action and Parabolic SAR.

Support and Resistance:
Support Levels: The nearest support is at 0.6600, with additional support at 0.6550. These levels are crucial for maintaining the broader uptrend.
Resistance Levels: The pair is facing resistance at 0.6700, with stronger resistance at 0.6750. A break above these levels could signal a continuation of the bullish trend.

Conclusion and Consideration:
The AUD/USD H4 chart presents mixed signals, with the recent price action and technical indicators suggesting a potential trend reversal. The Parabolic SAR and MACD indicate bearish momentum, while the overall trend remains bullish. Traders should watch key support and resistance levels closely for potential breakouts or further bearish developments. Fundamental news releases for both the US and Australia will be crucial in influencing market sentiment and price direction. Monitoring these developments can provide valuable insights for trading decisions.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
07.17.2024

EURUSD H4 Technical and Fundamental Analysis for 18.07.2024 (https://fxglory.com/2024/07/18/eurusd-h4-technical-and-fundamental-analysis-for-18-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD forecast today is heavily influenced by the economic releases from Europe and the U.S. For the Euro, factors like the results from bond auctions by the General Secretariat of the Treasury and statements from the ECB provide key insights into fiscal health and monetary policy decisions. Upcoming ECB interest rate decisions and statements could affect the Euro's strength. For the U.S., key data like unemployment claims and the Philly Fed Manufacturing Index serve as indicators of economic health, influencing the USD. Increased jobless claims could weaken the USD, whereas a positive manufacturing report could strengthen it.

Price Action:
The EUR/USD H4 chart timeframe shows a narrowing ascending channel pattern, indicating a steady uptrend but with resistance nearing the upper channel line. The EUR/USD pair also known as the Fiber, still has its price above the Ichimoku cloud, suggesting the pair’s bullish market environment. However, the Fiber’s price action also shows resistance levels are being tested, indicating potential points where the price momentum might pause or reverse.

Key Technical Indicators:

Ichimoku Cloud:
The price is above the Ichimoku Cloud, supporting the current bullish trend. However, the narrowing of the cloud could suggest upcoming volatility or a potential trend shift.

RSI (Relative Strength Index):
The RSI is at 68.05, nearing the overbought territory, which could suggest a potential pullback or stabilization in price movements.

MACD (Moving Average Convergence Divergence):
The MACD shows a slight divergence above its signal line, indicating bullish momentum but with caution as the histogram bars are small, suggesting a lack of strong momentum.

Support and Resistance:

Support Levels:
The nearest support is observed at the lower boundary of the ascending channel and the Ichimoku Cloud, around 1.0884.

Resistance Levels:
Immediate resistance is seen at the upper channel line and the recent high at 1.0938. A break above this could lead to further bullish movement towards the 1.1000 level.

Conclusion and Consideration:
The EUR/USD technical analysis today is displaying bullish signs on the H4 chart, supported by technical indicators like MACD and position above the Ichimoku Cloud. Traders should keep an eye on the resistance at 1.0938, as a breakout could confirm continued bullish trends. The EUR/USD fundamental analysis based on the recent events in the Eurozone and the U.S. could heavily influence the direction, so staying updated with these can be crucial for timely decision-making.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
18.07.2024

USDCAD Technical and Fundamental Analysis for 19.07.2024 (https://fxglory.com/2024/07/19/usdcad-technical-and-fundamental-analysis-for-19-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD forex pair, reflecting the exchange rate between the US Dollar (USD) and the Canadian Dollar (CAD), is poised for a volatile session given today's economic data releases. The USD is under scrutiny with low-impact events such as TIC Long-Term Purchases, which came in significantly lower than forecasted at -54.6B versus the expected 98.4B. Additionally, speeches from multiple FOMC members, including Daly, Bowman, Williams, and Bostic, are expected to provide further insights into future monetary policy, potentially influencing USD volatility. On the CAD side, high-impact data such as Core Retail Sales and Retail Sales, both forecasted at -0.5%, will be pivotal. These indicators are key gauges of consumer spending and economic health, likely to cause significant market movements if the actual figures deviate from expectations.

Price Action:
The USDCAD H4 chart shows a clear bullish trend. Over the past five candles, all have been bullish, indicating strong upward momentum. The price has broken through and passed the Ichimoku cloud, signifying a potential shift to a stronger bullish phase. The bullish candles suggest that the buyers are in control, pushing the price higher with each session.

Key Technical Indicators:
Ichimoku Cloud: The USDCAD price has moved above the Ichimoku cloud, a strong bullish signal suggesting that the trend might continue upwards. The cloud acts as a support zone, and breaking above it indicates a shift in momentum.
Volumes: The last three volume bars are red, indicating selling pressure despite the bullish price action. This divergence suggests caution, as increasing volume on bearish candles could signal potential weakness in the uptrend.
RSI (Relative Strength Index): The RSI is currently at 64.78, which is below the overbought level of 70. This suggests that there is still room for further upward movement before the market becomes overbought, supporting the bullish scenario.
Parabolic SAR: The Parabolic SAR dots are positioned below the last four candles, indicating a bullish trend. This indicator confirms the upward momentum and supports the continuation of the current trend.

Support and Resistance:
Support Levels: Immediate support is located at 1.3650, which aligns with the 50% Fibonacci retracement level and the lower boundary of the recent bullish channel.
Resistance Levels: The nearest resistance level is at 1.3785, which corresponds with the 78.6% Fibonacci retracement level and the upper boundary of the bullish channel.

Conclusion and Consideration:
The USDCAD H4 chart analysis shows a strong bullish trend, supported by the Ichimoku cloud, Volume, RSI, and Parabolic SAR indicators. The pair is currently experiencing robust upward momentum, with potential to reach higher resistance levels if the bullish trend continues. However, traders should remain cautious of upcoming economic data releases and FOMC member speeches, as these could introduce volatility and impact the current trend.

Disclaimer:
The analysis provided for USDCAD is for informational purposes only and does not constitute investment advice. Traders should perform their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is crucial to stay updated with the latest information.

FXGlory
19.07.2024

BTCUSD Daily Technical and Fundamental Analysis for 22.07.2024 (https://fxglory.com/2024/07/22/btcusd-daily-technical-and-fundamental-analysis-for-22-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's BTC/USD pair could be significantly impacted by U.S. political developments, notably President Biden's unexpected decision to withdraw from the 2024 election and endorse Kamala Harris. This surprise political shift could introduce high volatility in the USD, potentially influencing Bitcoin as investors may look to cryptocurrencies as alternative investments during periods of uncertainty in traditional markets.

Price Action Analysis:
The BTC/USD chart shows a robust uptrend in the H4 timeframe, with recent candles demonstrating strong bullish momentum. The price has repeatedly touched and exceeded the upper Bollinger Band, suggesting strong buying interest. The series of higher highs indicates a continued positive sentiment among traders, pushing the price upwards.

Analysis of Key Technical Indicators:
Bollinger Bands: The bands are widening, indicating increased market volatility. The price touching the upper band suggests a strong upward trend but also signals potential overbought conditions which could lead to a temporary pullback.
Parabolic SAR (0.2): The positioning of the Parabolic SAR points below the candles confirms the current bullish trend, providing additional support levels for price movement.
Volume: The last three candles show red volume bars, indicating that while the price is increasing, it might be on decreasing trading volume. This could suggest a weakening of the current trend or potential consolidation.
RSI: The Relative Strength Index is over 70, supporting the strong bullish sentiment in the market. However, being in the overbought zone also raises the caution of a possible reversal or retracement, especially if the price faces resistance around $68,550.

Support and Resistance Levels:
Support: The primary support level is currently at around $66,850, providing a cushion should the price retract.
Resistance: The immediate resistance is observed near $68,550. Breaking this level could lead to further highs, potentially testing new resistance levels.

Conclusion and Consideration:
The current technical setup in BTC/USD on the H4 chart suggests a strong bullish trend, supported by several indicators. However, the potential overbought conditions indicated by the RSI and the Bollinger Bands call for cautious trading. Investors and traders should keep an eye on the mentioned support and resistance levels for potential entry or exit points.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Perform your own research and consult with a financial advisor. Market conditions can change rapidly, and it is crucial to stay informed and prepared for volatility, especially with impending significant U.S. political news.

FXGlory
22.07.2024

USDJPY H4 Technical and Fundamental Analysis for 07.23.2024 (http://"https://fxglory.com/2024/07/22/usdjpy-h4-technical-and-fundamental-analysis-for-07-23-2024/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/JPY news analysis today is influenced by several fundamental factors, including economic indicators from the United States and Japan. For the USD, upcoming data from the National Association of Realtors and the Federal Reserve Bank of Richmond are crucial. Home resales, which reflect consumer confidence and economic health, can significantly impact the USD. Similarly, the Richmond Fed Index provides insights into manufacturing activity, which is vital for economic growth. For the JPY, the S&P Global Manufacturing PMI is a key indicator. This index reflects the health of the manufacturing sector and overall economic conditions in Japan.

Price Action:
The USD/JPY H4 chart, shows the pair’s bearish trend, with recent price movements forming lower highs and lower lows. The USD/JPY pair, also known as the Gopher has its price currently trending below the Ichimoku Cloud, indicating a bearish sentiment. The pair has recently found support near 156.46 and resistance around 157.68. The formation of a descending channel suggests further downside potential unless there is a strong reversal signal.

Key Technical Indicators:
Ichimoku Cloud:
The price is below the Ichimoku Cloud on USDJPY H4 chart, indicating a bearish trend. The Tenkan-sen is below the Kijun-sen , reinforcing the bearish outlook for this pair. The Chikou Span is also below the price, further confirming the bearish sentiment for USD against JPY.
MACD (Moving Average Convergence Divergence):
The MACD line is below the signal line, and the histogram is negative, indicating bearish momentum. The recent contraction of the histogram suggests a potential weakening of the bearish momentum.

Support and Resistance:
Support Levels:
The key support level is at 156.46, which has been tested multiple times and has held.
Resistance Levels:
The primary resistance level is at 157.68, with another significant level at 158.07.

Conclusion and Consideration:
The Gopher’s technical analysis on the H4 chart exhibits a strong bearish trend supported by the Ichimoku Cloud and MACD indicators. The USD/JPY price action suggests a continuation of the downward movement unless a significant reversal signal occurs. Traders should watch for any breakouts above the resistance level of 157.68 or below the support level of 156.46 for potential trade opportunities. It's essential to monitor upcoming economic data releases for the USD and JPY, as these can impact the pair's direction. As always, employing proper risk management strategies, including stop losses, is crucial in this volatile market.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
07.23.2024

USD/CAD H4 Technical and Fundamental Analysis for 24.07.2024 (https://fxglory.com/2024/07/24/usd-cad-h4-technical-and-fundamental-analysis-for-24-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The USD/CAD news analysis today is driven by several economic indicators and significant announcements. For the Canadian dollar, the key factors affecting the value of CAD include the Bank of Canada (BoC) Monetary Policy Report, the BoC Rate Statement, and the Overnight Rate decision. These announcements will provide insights into Canada's economic outlook and monetary policy direction, directly affecting the CAD's strength. For the US dollar, critical economic data releases such as the Flash Manufacturing PMI, Flash Services PMI, and New Home Sales numbers are influential. The PMI figures are expected to show slight changes, with Manufacturing PMI forecasted at 51.6 and Services PMI at 55.3. New Home Sales are anticipated to increase from 619K to 639K, indicating growth in the housing sector. These data points will impact USD performance and the overall USD/CAD forecast today.

Price Action:

The USD/CAD H4 candlestick chart shows the price climbing within a bullish channel, currently facing resistance at the top of the channel. Despite the price increase, the trade volume on this pair is reducing, signaling a potential end to the bullish phase. The price is also at the top line of the Bollinger Bands, indicating overbought conditions.

Key Technical Indicators:

RSI (Relative Strength Index): The RSI on USDCAD chart is currently above 70, indicating overbought conditions. This suggests a potential for a price correction or a pause in the bullish momentum.

Bollinger Bands: The USDCAD price is touching the upper band, reinforcing the overbought scenario. Traders should watch for a possible price pullback to the middle or lower bands.

Support and Resistance:

Support Levels: The nearest support level on this pair is at 1.37610, followed by a more substantial support at 1.37300.
Resistance Levels: The immediate resistance level for USDCAD price is at 1.37785, with a significant resistance at 1.37920, which aligns with the top of the bullish channel.

Conclusion and Consideration:

The USD/CAD technical analysis today indicates a strong bullish trend on the H4 chart, but with signs of overbought conditions as highlighted by the RSI and Bollinger Bands. The reducing trade volume further suggests a possible end to the bullish phase. Given the upcoming economic data releases and the BoC's announcements, traders should remain cautious. The BoC Monetary Policy Report and Rate Statement, along with USD economic indicators like the Flash PMIs and New Home Sales, will provide critical insights for trading strategies. Employ proper risk management and stay alert to news updates for informed trading decisions.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
24.07.2024

EURUSD H4 Technical and Fundamental Analysis for 25.07.2024 (https://fxglory.com/2024/07/24/eurusd-h4-technical-and-fundamental-analysis-for-25-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD forecast today is currently influenced by a series of upcoming economic events and data releases. For the USD, key events include speeches from FOMC members Bowman and Logan, as well as President Biden's announcement. High-impact data such as the Advance GDP q/q, Unemployment Claims, and Durable Goods Orders will also play crucial roles. These events are likely to provide significant volatility in the market. In the Eurozone, the Ifo Business Climate Index and ECB-related announcements will shape market sentiment. Strong US economic data and hawkish tones from FOMC members may strengthen the USD, potentially pushing the EUR/USD pair, also known as the Fiber, lower.

Price Action:
The EUR/USD H4 chart has recently broken below the Ichimoku cloud, indicating a shift to a bearish trend. The pair is experiencing a downward movement, forming lower highs and lower lows, typical of a bearish trend. The pair’s price action suggests continued downward pressure, with the price finding resistance at the lower boundary of the Ichimoku cloud.

Key Technical Indicators:
Ichimoku Cloud: The price breaking below the Ichimoku cloud is a bearish signal. The future cloud is bearish as well, with Span A below Span B, indicating potential continued downward momentum.
RSI (Relative Strength Index): The RSI is around 35.39, which is close to the oversold territory. This indicates that while the bearish momentum is strong, there may be limited room for further immediate decline before a potential correction.
MACD (Moving Average Convergence Divergence): The MACD indicator shows a negative histogram with the MACD line below the signal line, reinforcing the bearish sentiment. This suggests that downward momentum is currently prevailing.

Support and Resistance:
Support Levels: Immediate support is found at 1.08345, with stronger support at 1.08000.
Resistance Levels: Immediate resistance is at 1.08574, followed by 1.08870 and 1.09039. A break above these levels would be required to negate the current bearish trend.

Conclusion and Consideration:
The EUR/USD technical analysis on the H4 chart is exhibiting bearish tendencies, confirmed by the price breaking below the Ichimoku cloud and negative signals from the MACD. The RSI suggests the pair is nearing oversold conditions, which could lead to a short-term corrective bounce. However, the overall sentiment remains bearish unless significant resistance levels are breached. As for the Fiber’s fundamental analysis today, traders should closely monitor the upcoming economic data releases and FOMC speeches for further direction. Proper risk management, such as setting stop losses, is crucial in this volatile environment.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
25.07.2024

GOLD H4 Daily Technical and Fundamental Analysis for 26.07.2024 (https://fxglory.com/2024/07/26/gold-h4-daily-technical-and-fundamental-analysis-for-26-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis
The GOLD market (GOLD/USD, XAU/USD) is closely watched by traders due to its safe-haven status and sensitivity to economic data. Today, several key economic indicators from the U.S. are expected to impact the gold market. The Core PCE Price Index m/m, forecasted at 0.2%, is crucial as it influences inflation expectations and the Federal Reserve's monetary policy. Lower-than-expected data could weaken the USD, potentially boosting gold prices. Additionally, Personal Income and Personal Spending data will provide insights into consumer health and economic activity. Revised University of Michigan Consumer Sentiment and Inflation Expectations also play significant roles, reflecting consumer confidence and future inflation outlook. The ongoing G20 meetings may introduce additional volatility as global economic policies and issues are discussed, affecting currency and commodity markets, including gold.

Price Action
Analyzing the H4 chart for GOLD/USD, we observe a strong bearish trend with the price moving within a descending channel. The recent candles show a clear downward movement, reflecting selling pressure. Despite a few attempts at bullish corrections, the overall momentum remains bearish. The GOLD price is currently trading below the Ichimoku Cloud, indicating continued bearish sentiment. The recent interaction with the Fibonacci retracement levels suggests minor support, but the price has largely respected the bearish trend.

Key Technical Indicators
Ichimoku Cloud: The current XAUUSD price is below the Ichimoku Cloud, indicating a bearish outlook. The cloud itself is bearish, further supporting the downtrend. This suggests that selling pressure remains strong, and the bearish trend is likely to continue.
RSI (14): The RSI is currently at 31.81, indicating that the market is approaching oversold conditions. While this might suggest a potential for a short-term bounce, the overall bearish momentum could persist until a significant reversal signal is observed.
Volumes: The trading volume shows a gradual increase in selling activity, supporting the bearish trend. Higher volumes on down moves suggest strong participation from sellers, reinforcing the bearish outlook.
Parabolic SAR (0.2): The Parabolic SAR dots are positioned above the candles, indicating a bearish signal. This trend-following indicator confirms the current downtrend, suggesting that the selling pressure is likely to continue.

Support and Resistance
Support Levels: Immediate support is at the 23.6% Fibonacci retracement level around 2366.91, followed by further support at 2330.96.
Resistance Levels: Immediate resistance is at the 38.2% Fibonacci retracement level around 2389.16, with further resistance at the 50% level near 2403.71.

Conclusion and Consideration
The GOLD/USD pair on the H4 chart indicates a strong bearish trend, supported by technical indicators like the Ichimoku Cloud, RSI, Fibonacci retracement levels, and Parabolic SAR. The current price action suggests continued downward pressure, though oversold RSI levels may hint at a potential short-term bounce. Fundamental factors, including today's key U.S. economic data and ongoing G20 meetings, could introduce volatility. Traders should remain cautious and watch for any significant news that might impact market sentiment.

Disclaimer: The GOLD analysis provided is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FXGlory
26.07.2024

GBPUSD H4 Technical and Fundamental Analysis for 29.07.2024 (https://fxglory.com/2024/07/29/gbpusd-h4-technical-and-fundamental-analysis-for-29-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD news analysis today is significantly influenced by economic indicators from both the United Kingdom and the United States. For the UK, factors such as changes in the money supply, mortgage approvals, and new credit issuance play crucial roles. The recent data from the Bank of England shows an increase in money circulation and credit issuance, suggesting an optimistic economic outlook. In the US, economic indicators such as interest rates, inflation, and job reports affect the dollar. The upcoming Bank of England reports will provide further insights into the UK's economic health, impacting the GBP/USD forecast today.

Price Action:
The GBP/USD H4 chart is exhibiting a downtrend, as indicated by the descending channel formed by the red trend lines. The price is consistently making lower highs and lower lows. The pair also known as the Cable, is struggling to break above the resistance provided by the upper trend line of the channel. This pattern indicates the pair’s bearish sentiment.

Key Technical Indicators:

Ichimoku Cloud:
The price has broken below the Ichimoku Cloud, indicating a bearish trend. The conversion line (Tenkan-sen) is below the baseline (Kijun-sen), supporting the bearish outlook. The cloud ahead is bearish, suggesting continued downward pressure.

RSI (Relative Strength Index):
The RSI is currently at 39.70, indicating the market is approaching oversold conditions. A value below 30 would signal an oversold market, potentially leading to a corrective bounce.

MACD (Moving Average Convergence Divergence):
The MACD line is below the signal line, and the histogram is in negative territory, signaling bearish momentum. The divergence between the MACD and the signal line suggests a strengthening downward momentum.

Support and Resistance:

Support Levels:
The immediate support level is around 1.26690, which aligns with the lower trend line of the descending channel.

Resistance Levels:
The nearest resistance is around 1.29215, where the price has previously attempted to break above but failed.

Conclusion and Consideration:
The GBP/USD technical analysis today shows the pair's bearish trend on the H4 timeframe, confirmed by the Ichimoku Cloud, MACD, and RSI indicators. Traders should look for potential sell opportunities, particularly if the price continues to respect the upper trend line of the descending channel. Monitoring upcoming economic releases from both the UK and the US will be crucial as they could influence the Cable’s price action. Traders should also be cautious of any corrective bounces that might occur if the RSI reaches oversold levels.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
29.07.2024

EURUSD H4 Technical and Fundamental Analysis for 30.07.2024 (https://fxglory.com/2024/07/30/eurusd-h4-technical-and-fundamental-analysis-for-30-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD news analysis today is influenced by various fundamental factors such as macroeconomic indicators, central bank policies, and geopolitical events. For the Euro, recent data releases from INSEE indicate changes in consumer spending and GDP, which are vital for understanding the economic health of the Eurozone. Positive readings typically strengthen the Euro. On the US side, upcoming data on house prices and consumer confidence are crucial. The US Federal Reserve’s monetary policy decisions also play a significant role, with higher interest rates potentially boosting the USD, consequently affecting the pair also known as the Fiber.

Price Action:
The EUR/USD H4 chart shows the pair’s clear bearish trend, with the price moving below the Ichimoku cloud, indicating a strong downtrend. The price has recently tested and broken through significant support levels, and there is a descending channel evident, further confirming the bearish sentiment. The Fiber’s price action suggests continued downward pressure unless a significant reversal signal appears.

Key Technical Indicators:
Ichimoku Cloud: The price is trading below the Ichimoku cloud, indicating bearish momentum. The future cloud is bearish, suggesting that the downtrend might continue. The Tenkan-Sen is below the Kijun-Sen, reinforcing the bearish outlook.
RSI (Relative Strength Index): The RSI is at 36.35, which is in the bearish zone but not yet oversold. This indicates that there might still be room for further downside before a potential reversal or correction.
Stochastic Oscillator: The Stochastic is at 20.22/14.21, indicating oversold conditions. This could suggest that a short-term bounce or correction might be on the horizon if the market finds some support.

Support and Resistance:
Support Levels: The immediate support level is at 1.08148, with further support at 1.07600, the lower bound of the descending channel.
Resistance Levels: The nearest resistance is at 1.08331, followed by 1.08555 and 1.08842, which are the upper bounds of the recent price consolidation and descending channel.

Conclusion and Consideration:
The EUR/USD technical analysis today on the H4 chart shows a strong bearish trend reinforced by key technical indicators. The price is trading below the Ichimoku cloud, the RSI indicates bearish momentum, and the Stochastic suggests oversold conditions. Traders should monitor the support at 1.08148 closely; a break below this level could signal further downside. However, oversold conditions might lead to a short-term corrective bounce. As for the pair’s fundamental analysis, data releases from both the Eurozone and the US could provide additional volatility and direction. Risk management is crucial in such a volatile environment, and setting appropriate stop-loss levels is advised.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
30.07.2024

EURJPY H4 Technical and Fundamental Analysis for 31.07.2024 (https://fxglory.com/2024/07/31/eurjpy-h4-technical-and-fundamental-analysis-for-31-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/JPY pair is influenced by various fundamental factors, including economic indicators from the Eurozone and Japan. For the Euro (EUR), recent data from the Eurozone's economic performance, particularly GDP growth and inflation rates, are pivotal. Reports from the European Central Bank (ECB) regarding monetary policy also play a crucial role. For the Japanese Yen (JPY), key indicators include the S&P Global Manufacturing PMI and the Bank of Japan's stance on monetary policy. The overall economic health and consumer confidence in both regions are significant drivers for the EUR/JPY pair.

Price Action:
The EUR/JPY H4 chart shows a bearish trend, with the recent price action forming lower highs and lower lows. The pair's price has broken below the Ichimoku Cloud, indicating a bearish sentiment. The EUR/JPY pair has recently found support near 164.15 and resistance around 168.01. The formation of a descending pattern suggests further downside potential unless a strong reversal signal emerges.

Key Technical Indicators:

Ichimoku Cloud:
The price is below the Ichimoku Cloud on the EUR/JPY H4 chart, indicating a bearish trend. The Tenkan-sen is below the Kijun-sen, reinforcing the bearish outlook for this pair. The Chikou Span is also below the price, further confirming the bearish sentiment for EUR against JPY.

MACD (Moving Average Convergence Divergence):
The MACD line is below the signal line, and the histogram is negative, indicating bearish momentum. The recent contraction of the histogram suggests a potential weakening of the bearish momentum.

Support and Resistance:

Support Levels:
The key support level is at 164.15, which has been tested multiple times and has held.

Resistance Levels:
The primary resistance level is at 168.01, with another significant level at 166.08.

Conclusion and Consideration:
The EUR/JPY technical analysis on the H4 chart exhibits a strong bearish trend supported by the Ichimoku Cloud and MACD indicators. The EUR/JPY price action suggests a continuation of the downward movement unless a significant reversal signal occurs. Traders should watch for any breakouts above the resistance level of 168.01 or below the support level of 164.15 for potential trade opportunities. It's essential to monitor upcoming economic data releases for the Euro and the Yen, as these can impact the pair's direction. As always, employing proper risk management strategies, including stop losses, is crucial in this volatile market.
Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
31.07.2024

GBPUSD H4 Technical and Fundamental Analysis for 08.01.2024 (https://fxglory.com/wp-content/uploads/2024/08/GBPUSD_H4_Chart_Daily_Technical_and_Fundamental_Analysis_for_08_01_2024-1024x524.webp)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD news analysis today is influenced by a variety of fundamental factors. The British Pound is currently affected by the economic outlook in the UK, including inflation rates, interest rates set by the Bank of England, and the overall economic performance as reflected in GDP and employment data. The US Dollar, on the other hand, is influenced by similar factors in the United States, including Federal Reserve policies, inflation rates, and employment figures. Today's economic calendar includes several important data releases for the USD, such as Unemployment Claims and ISM Manufacturing PMI, which are expected to have a high impact on the currency. These releases could provide significant volatility and direction to the GBP/USD pair, also known as the “Cable”.

Price Action:
The GBP/USD H4 chart shows the pair trading in a descending channel with clear lower highs and lower lows, indicating the pair’s bearish trend. However, the Cable’s recent price action suggests a consolidation phase around the 1.2830 - 1.2865 range, which may be forming a base for a potential reversal or continuation pattern. The price is currently testing the upper boundary of the channel, indicating a crucial decision point.

Key Technical Indicators:
Ichimoku Cloud: The price is trading below the Ichimoku cloud, suggesting a bearish outlook. The cloud ahead is bearish, providing potential resistance for any upward movement.
RSI (Relative Strength Index): The RSI is around the neutral 49 level, suggesting neither overbought nor oversold conditions. This indicates a lack of strong momentum in either direction, aligning with the current consolidation phase.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, and the histogram is in negative territory, indicating bearish momentum. However, the narrowing histogram suggests weakening bearish momentum, which could precede a bullish crossover.

Support and Resistance:
Support Levels: The immediate support levels for the currency pair are at 1.2827 and 1.2810, providing crucial price points where buying interest might emerge to prevent further decline.
Resistance Levels: The resistance levels are at 1.2846 and 1.2865, acting as key barriers where selling pressure might intensify, potentially halting any upward movement.

Conclusion and Consideration:
The GBP/USD technical analysis today shows that the pair is currently in a consolidation phase within a broader downtrend. Key indicators such as the Ichimoku cloud and MACD suggest a bearish bias, while the RSI shows a neutral stance. The upcoming economic releases for the USD, particularly the Unemployment Claims and ISM Manufacturing PMI, could introduce significant volatility to the pair’s forecast. Traders should monitor these data points closely, as they could determine the pair's next direction. A break above the 1.2865 resistance could signal a potential trend reversal, while a drop below 1.2827 could confirm the continuation of the bearish trend.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
08.01.2024

USDJPY H4 Technical and Fundamental Analysis for 08.02.2024 (https://fxglory.com/2024/08/02/usdjpy-h4-technical-and-fundamental-analysis-for-08-02-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/JPY currency pair reflects the exchange rate between the US Dollar (USD) and the Japanese Yen (JPY). Today, the USD is poised for significant volatility with key economic releases including Average Hourly Earnings, Non-Farm Employment Change, and the Unemployment Rate. The Average Hourly Earnings forecast is at 0.3%, which is a leading indicator of consumer inflation. A higher-than-expected figure is positive for the USD. The Non-Farm Employment Change forecast stands at 176K, indicating potential job growth. The Unemployment Rate is forecasted at 4.1%, and a lower-than-expected figure would be favorable for the USD. These indicators are crucial as they impact consumer spending and overall economic health, which traders will scrutinize closely.

Price Action:
The USDJPY pair analysis on the H4 timeframe shows a clear bearish trend. The price has been consistently moving within a descending channel, highlighted by lower highs and lower lows. Recently, the price has tested the lower boundary of the channel, indicating continued bearish pressure. The presence of red candlesticks dominates, confirming the downward momentum. Traders should note the current consolidation near the lower channel line, which might suggest a potential pause or reversal, but the overall trend remains bearish.

Key Technical Indicators:
Moving Averages (MA 17 and MA 9): The 9-period MA is below the 17-period MA, indicating a bearish trend. This alignment supports the downward price movement observed in recent sessions. The convergence and subsequent crossing of the MAs have reinforced the selling pressure.
Parabolic SAR: The Parabolic SAR dots have shifted above the candles, signaling a bearish trend. Despite a brief change indicated by two spots below the candles, the last three dots have switched back above, confirming the resumption of the bearish trend.
MACD (Moving Average Convergence Divergence): The MACD line has crossed below the signal line, indicating bearish momentum. The histogram supports this with increasing negative values, suggesting that the selling pressure is intensifying. This bearish crossover aligns with the overall downward trend of the pair.

Support and Resistance:
Support: Immediate support is located at 148.514, a level that has been tested multiple times recently. This support aligns with the lower boundary of the descending channel and a critical consolidation area.
Resistance: The nearest resistance level is at 150835, which coincides with the 61.8% Fibonacci retracement level. This level has acted as a significant barrier in recent attempts to reverse the trend.

Conclusion and Consideration:
The USDJPY pair on the H4 chart indicates sustained bearish momentum, supported by the alignment of the moving averages, Parabolic SAR, and MACD indicators. The USDJPY price action within the descending channel suggests that the bears are still in control. Traders should consider the impact of the upcoming US economic data releases, which could introduce significant volatility and potentially alter the trend dynamics. It is crucial to monitor these indicators and adjust positions accordingly.

Disclaimer: The USDJPY provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information. Always consider risk management strategies and consult with a financial advisor if necessary.

FXGlory
08.02.2024

EURUSD H4 Technical and Fundamental Analysis for 05.08.2024 (https://fxglory.com/2024/08/05/eurusd-h4-technical-and-fundamental-analysis-for-05-08-2024/)

Fundamental Analysis:
The EUR/USD news analysis is set to be influenced by several low-impact news releases today, including the Spanish, Italian, French, German, and overall Eurozone Services PMI. These PMI releases are crucial as they provide insight into the economic health and business conditions in the services sector. A reading above 50.0 indicates industry expansion, while below signifies contraction. Moreover, the Sentix Investor Confidence and Producer Price Index (PPI) m/m data will further contribute to market sentiment. For the US Dollar (USD), the key events to watch are the medium-impact Final Services PMI with a forecast of 56.0, and the high-impact ISM Services PMI expected to be at 51.4. Both these indicators are critical as they reflect the economic health and business conditions in the US non-manufacturing sector.

Price Action:
The EURUSD pair on the H4 timeframe recently exhibited a significant bullish momentum. The price action indicates a breakout from the previous downtrend, marked by a steep rise in the past few sessions. The sharp increase in price has broken through several resistance levels, indicating strong bullish sentiment.

Key Technical Indicators:

Parabolic SAR: The Parabolic SAR (Stop and Reverse) indicator has placed its last spots below the candles, suggesting a bullish trend. The sharp increase in price aligns with the SAR’s indication, confirming a strong upward momentum.
Alligator: The Alligator indicator, consisting of the Jaw (blue line), Teeth (red line), and Lips (green line), shows a widening of the lines. This indicates a trending market. The Lips (green) have crossed above the Teeth (red) and Jaw (blue), which supports the bullish trend and suggests that the market is waking up to a new upward direction.
MACD (Moving Average Convergence Divergence): The MACD line has crossed above the signal line with the histogram showing increasing bullish momentum. This crossover and the rising histogram bars indicate a strengthening bullish trend, reinforcing the recent upward price action.

Support and Resistance Levels:
Support Levels: The immediate support level is at 1.0840 (23.6% Fibonacci retracement level), followed by 1.0784 (0.0% Fibonacci retracement level).
Resistance Levels: The key resistance level to watch is at 1.0917, followed by 1.0960 (61.8% Fibonacci retracement level).

Conclusion and Consideration:
The EURUSD H4 chart exhibits a robust bullish trend driven by strong upward price action and supported by key technical indicators such as Parabolic SAR, Alligator, and MACD. The market’s recent breakout from the downtrend signals potential for further gains. However, traders should consider the upcoming economic news releases for both EUR and USD, which could introduce volatility and impact the price direction.

Disclaimer: The EURUSD provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FXGlory
05.08.2024

AUDNZD H4 Technical and Fundamental Analysis for 06.08.2024 (https://fxglory.com/2024/08/06/audnzd-h4-technical-and-fundamental-analysis-for-08-06-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUD/NZD currency pair represents the exchange rate between the Australian Dollar (AUD) and the New Zealand Dollar (NZD). The recent economic data from both countries indicate potential influences on this pair. Australia's economic releases, including Retail Sales and Trade Balance, show a robust economic environment. Higher-than-expected Retail Sales figures suggest strong consumer spending, which is positive for the AUD. On the other hand, New Zealand's employment data, such as the Unemployment Rate and Employment Change, also show positive trends, which can strengthen the NZD. However, given the overall economic conditions and central bank policies, the AUD appears poised for a bullish movement against the NZD.

Price Action:
The AUDNZD pair analysis on the H4 timeframe shows a potential end to the recent bearish trend. The price has broken out of a descending trend line, suggesting a possible reversal or a pause in the bearish momentum. The candlestick pattern indicates a recovery, with green candles emerging after hitting a significant support level.

Key Technical Indicators:
MACD (Moving Average Convergence Divergence): The MACD indicator shows a bullish crossover, where the MACD line has crossed above the signal line, indicating a potential shift to bullish momentum. The histogram also supports this with increasing positive values, suggesting that the buying pressure is intensifying.
RSI (Relative Strength Index): The RSI has recovered from the oversold area, moving above the 30 level, which signals the end of bearish momentum and the start of a potential bullish run.

Support and Resistance:
Support: Immediate support is located at 1.08555, a level that has been tested recently and held firm, indicating strong buying interest at this level.
Resistance: The nearest resistance level is at 1.09416, which coincides with recent highs and the breakout area of the descending trend line.

Conclusion and Consideration:
The AUDNZD pair on the H4 chart indicates a potential bullish reversal, supported by the MACD and RSI indicators. The breakout of the descending trend line and the price recovery from the support level of 1.08555 suggest that the bulls might be taking control. Traders should consider this bullish scenario and look for buying opportunities on retracements, particularly around the 1.08555 support area. Monitoring upcoming economic releases from both Australia and New Zealand will be crucial, as they can introduce significant volatility and potentially alter the trend dynamics.

Disclaimer: The AUDNZD provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information. Always consider risk management strategies and consult with a financial advisor if necessary.

FXGlory
06.08.2024

EURCAD H4 Technical and Fundamental Analysis for 07.08.2024 (https://fxglory.com/2024/08/07/eurcad-h4-technical-and-fundamental-analysis-for-07-08-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EURCAD currency pair represents the exchange rate between the Euro (EUR) and the Canadian Dollar (CAD). Recent economic data from both the Eurozone and Canada indicate potential influences on this pair.
Euro (EUR)
•German Industrial Production m/m: The latest data shows an increase of 1.0%, a significant recovery from the previous -2.5%. This indicates a rebound in Germany's industrial sector, which is positive for the EUR.
•German Trade Balance: The trade balance stands at 21.7B, slightly below the previous 24.9B. While this shows a slight decrease, the large surplus continues to support the EUR.
Canadian Dollar (CAD)
•Ivey PMI: The latest figure is 60.0, lower than the previous 62.5. A PMI above 50 generally indicates expansion, but the drop suggests a slowing pace of growth, which could weaken the CAD.
•BOC Summary of Deliberations: The Bank of Canada's recent deliberations will provide insight into future monetary policy, which is crucial for the CAD's strength. Any dovish tone could negatively impact the CAD.

Price Action:
The EURCAD pair has been through a bearish phase and is currently testing a significant support zone around the 1.50000 level. This area is crucial as it has held in the past, providing a potential floor for the pair.

Key Technical Indicators:
MACD (Moving Average Convergence Divergence): The MACD indicator shows that although the trend has been bearish, the MACD line is trending higher, suggesting decreasing bearish momentum. The histogram supports this with declining negative values.
RSI (Relative Strength Index): The RSI is in a neutral area, around 40, indicating that the pair is not currently oversold or overbought. This suggests that the current price level is a potential point of consolidation or reversal.

Support and Resistance:
Support: Immediate support is located at 1.50000. This level is critical as it has been tested recently and held firm, indicating strong buying interest.
Resistance: The nearest resistance level is at 1.50313, followed by 1.49961, which aligns with recent highs and the descending trend line.

Conclusion and Consideration:
The EURCAD pair on the H4 chart indicates a potential consolidation or reversal at the 1.50000 support level. The MACD and RSI indicators suggest that the bearish momentum might be waning, offering a possible opportunity for bulls. Traders should monitor this support area closely for potential buying opportunities, especially if the pair holds above 1.50000. Upcoming economic releases from both the Eurozone and Canada will be crucial, as they can introduce significant volatility and potentially alter the trend dynamics.

Disclaimer: The EURCAD provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information. Always consider risk management strategies and consult with a financial advisor if necessary.

FXGlory
07.08.2024

USDCAD H4 Technical and Fundamental Analysis for 09.08.2024 (https://fxglory.com/2024/08/09/usdcad-h4-technical-and-fundamental-analysis-for-09-08-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDCAD currency pair is influenced today by significant economic data releases from Canada. The Canadian Employment Change report shows an increase of 26.9K jobs, which is higher than anticipated, signaling a strengthening labor market. Concurrently, the Canadian Unemployment Rate is reported at 6.5%. These figures indicate a robust economic environment in Canada, which could bolster the CAD against the USD. Traders will likely monitor these figures closely, as they could lead to increased volatility in the USDCAD pair. On the US side, no major data releases are expected, leaving the CAD's strength as the primary driver for today’s market moves.

Price Action:
On the H4 timeframe, USDCAD is currently exhibiting bearish momentum, following a breakdown from an ascending channel. The USDCAD price has moved lower after reaching a peak around 1.3938, and it is now hovering between the 50% and 61.8% Fibonacci retracement levels. The formation of lower highs and lower lows within the descending channel suggests continued bearish pressure. The recent candles show consolidation, indicating a potential pause or retracement before the next directional move.

Key Technical Indicators:
Alligator Indicator (Lips - Green, Teeth - Red, Jaws - Blue): The Alligator indicator shows the Lips below the Teeth and the Teeth below the Jaws, confirming the bearish trend. The widening of these lines further supports the continuation of the downtrend, with the current price action adhering closely to this structure.
MACD (Moving Average Convergence Divergence): The MACD histogram is below the zero line, and the MACD line is slightly below the signal line, indicating bearish momentum. The declining histogram bars suggest weakening bearish strength, which could indicate a potential for short-term consolidation or a minor bullish retracement.
%R (Williams %R): The %R is currently near the oversold region at -68.96. This suggests that the pair is approaching an area where a bullish correction might occur, although the strong downtrend could limit any significant upside movement.
Parabolic SAR (Stop and Reverse): The Parabolic SAR has recently placed dots below the candles, indicating a potential shift in momentum. However, given the prevailing downtrend and the positioning of other indicators, this could be a short-lived retracement unless supported by stronger buying pressure.

Support and Resistance:
Support: Immediate support is seen at the 1.3700 level, which aligns closely with the 61.8% Fibonacci retracement. A break below this could see the price moving towards the next significant support at 1.3600.
Resistance: The nearest resistance is at 1.3775, aligning with the 50% Fibonacci retracement. A move above this level might encounter further resistance at 1.3830.

Conclusion and Consideration:
The USDCAD pair on the H4 chart currently reflects a bearish outlook, with strong downtrend indicators and critical price levels being tested. Traders should closely watch the 61.8% Fibonacci retracement level for potential price reactions. The Canadian employment data suggests underlying strength in the CAD, which could continue to weigh on the pair. However, the potential for a minor bullish correction exists if the pair finds support at current levels.

Disclaimer: The provided analysis for USDCAD is for informational purposes only and does not constitute financial advice. Market conditions can change rapidly, and it is essential for traders to conduct their own research before making trading decisions. Consideration should be given to the potential risks involved in trading financial instruments.

FXGlory
09.08.2024

EURUSD H4 Technical and Fundamental Analysis for 12.08.2024 (https://fxglory.com/2024/08/12/eurusd-h4-technical-and-fundamental-analysis-for-12-08-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD news analysis today is influenced by a combination of Eurozone and U.S. economic factors. Recently, the U.S. Treasury released its Monthly Treasury Statement, indicating a difference in the federal government's income and spending, which could potentially impact the U.S. Dollar depending on whether the deficit is larger or smaller than expected. Additionally, the Federal Reserve Bank of Cleveland's inflation expectations report could sway investor sentiment if the forecast differs significantly from the actual data. On the Euro side, the Wholesale Price Index (WPI) from Destatis, which indicates changes in the price of goods sold by wholesalers, will be a crucial indicator to monitor as it may hint at upcoming consumer inflation trends in the Eurozone. These factors combined suggest that market participants should remain cautious of any news releases that might have an effect on today’s EUR/USD forecast.

Price Action:
The EUR/USD H4 chart demonstrates a bearish trend for the pair also known as the ‘Fiber’, with the price nearing the Ichimoku Cloud, which it seems poised to break downward. The Fiber’s price action shows consolidation within a descending triangle pattern, indicating a potential continuation of the downtrend if the lower boundary of the pattern is breached. The recent candlesticks suggest indecision, but with a bearish bias, as indicated by the rejection of higher prices and the subsequent movement toward the triangle's lower trendline.

Key Technical Indicators:

Ichimoku Cloud:
The price is currently approaching the lower edge of the Ichimoku Cloud. A break below the cloud would signify a bearish continuation, potentially leading to further downside. The cloud ahead is thin, suggesting weak future support levels.
RSI (Relative Strength Index):
The RSI is at 51.27, hovering around the midline, which indicates a neutral stance. However, given the recent price action and the prevailing bearish trend, the RSI might dip further, signaling increasing selling pressure.
Stochastic Oscillator:
The MACD histogram shows decreasing momentum, with the MACD line close to crossing below the signal line. This potential bearish crossover could confirm a continuation of the downward trend.

Support and Resistance:

Support Levels:
The nearest resistance levels are at 1.09364 and 1.09195, which correspond to previous highs and could act as barriers to any upward movement.
Resistance Levels:
The immediate support is at 1.08962. If the price breaks below this level, it may find further support around 1.08350, which aligns with the lower boundary of the descending triangle.

Conclusion and Consideration:
The EUR/USD technical analysis on the pair’s H4 chart suggests a bearish outlook, particularly with the price nearing a critical support level within a descending triangle. The technical indicators align with this view, signaling potential downside risks if the support at 1.08962 is breached. Traders should keep an eye on the upcoming economic data releases as they could have significant effects on the Fiber’s fundamental analysis. Given the current technical setup, short positions might be favored, but caution is advised, especially around key support and resistance levels.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
12.08.2024

GBP/AUD H4 Technical and Fundamental Analysis for 13.08.2024 (https://fxglory.com/2024/08/12/gbpaud-h4-technical-and-fundamental-analysis-for-13-08-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/AUD forecast today is influenced by a mix of economic indicators from both the UK and Australia that paint a complex picture of the potential market directions. The UK sees a decrease in Claimant Count Change and a slight uptick in the Unemployment Rate, combined with a reduction in the Average Earnings Index. In contrast, Australia's economic indicators such as the Westpac Consumer Sentiment and NAB Business Confidence show a mixed economic sentiment, while the Wage Price Index suggests rising wage pressures. These data releases provide critical insights into the economic health of both nations, influencing the GBP/AUD trading strategy.

Price Action:
The GBP/AUD pair has been experiencing a bearish wave but shows signs of potential reversal. The price action is forming a descending triangle, with recent lows higher than previous ones, indicating weakening downward momentum. Traders should closely monitor this pattern for a breakout which could signal a new trend.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI nears 45 and shows signs of a bullish reversal, which aligns with the weakening bearish momentum observed in the price action. This suggests that the current bearish trend might be losing strength.
MACD (Moving Average Convergence Divergence): The MACD indicates a decline in bearish momentum with the histogram showing less negativity, suggesting a potential shift towards a bullish market phase if the descending triangle resistance is breached.

Support and Resistance:
Support Levels:
The nearest support is at 1.93200, with additional support at 1.93000. These levels are crucial for maintaining the broader uptrend.
Resistance Levels:
The pair is facing resistance at 1.94655, with stronger resistance at 1.95555. A break above these levels could signal a continuation of the bullish trend.

Conclusion and Consideration:
The GBP/AUD H4 chart suggests that the bearish momentum is fading with key economic indicators and technical signals pointing towards a possible trend reversal. The outcome of the current patterns could be significantly influenced by further economic releases and market sentiment. Traders should maintain vigilance and adjust their strategies based on the evolving market conditions and economic data.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
13.08.2024

GBPUSD H4 Technical and Fundamental Analysis for 14.08.2024 (http://"https://fxglory.com/2024/08/14/gbpusd-h4-technical-and-fundamental-analysis-for-14-08-2024/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD forecast today is shaped by ongoing developments in the UK and US economies. In the UK, recent data has shown a slight increase in the unemployment rate, which could suggest a cooling labor market, while inflation remains elevated, keeping the Bank of England on alert for further rate hikes. In the US, economic indicators like the Consumer Price Index (CPI) have shown resilience, keeping the Federal Reserve on a tightrope between taming inflation and sustaining economic growth. These factors create a complex environment for GBP/USD, as traders weigh the relative strength of both currencies.

Price Action:
The GBP/USD price recently broke above a significant dynamic resistance zone, indicating a potential end to the bearish phase that has dominated the market. The price action suggests that the pair is now entering a consolidation phase after this breakout, with the possibility of retesting the recently broken dynamic support zone before continuing its upward trajectory.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI is currently in the overbought territory, hovering around 72. This suggests that the pair may be due for a short-term correction or consolidation before resuming its upward movement.
MACD (Moving Average Convergence Divergence): The MACD shows a strong buy signal, with the histogram indicating increasing bullish momentum. This aligns with the recent breakout above the resistance zone, supporting the case for further upside potential.

Support and Resistance:
Support Levels:
The nearest support is at 1.27353, which corresponds to the dynamic support zone recently broken. A retest of this level could provide a strong buying opportunity and this situation is predicted for GBPUSD. Additional support is noted at 1.26641, which would be critical if the pair sees a deeper pullback.
Resistance Levels:
Immediate resistance is seen around 1.28850. This area is forecasted to be an important area for GBPUSD A break above this level could accelerate the bullish trend. Further resistance is noted at 1.29410, which would be the next target for bulls if the current momentum continues.

Conclusion and Consideration:
The GBP/USD H4 chart analysis suggests that the bearish phase may have concluded, with the price now likely to enter a bullish trend following a potential retest of the dynamic support zone. However, traders should be cautious of the RSI being in overbought territory, indicating a possible short-term pullback or consolidation. The strong buy signal from the MACD further reinforces the potential for continued upward movement after any correction. As always, market participants should monitor upcoming economic data and global developments, adjusting their strategies accordingly.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
14.08.2024

AUDUSD H4 Technical and Fundamental Analysis for 15.08.2024 (https://fxglory.com/wp-content/uploads/2024/08/AUDUSD_H4_Chart_Daily_Technical_and_Fundamental_Analysis_for_08_15_2024-1024x524.webp)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUD/USD news analysis today is influenced by several key fundamental factors, these economic data are released from both Australia and the United States, most of the time leading to increased volatility in the pair commonly known as the “Aussie”. Australia's economic health, particularly in areas such as employment, inflation, and consumer spending, plays a crucial role in determining the strength of the Australian Dollar. On the other hand, the US Dollar is affected by economic indicators like retail sales, jobless claims, and manufacturing indexes. Given the interconnectedness of the global economy, shifts in US monetary policy, particularly interest rate decisions by the Federal Reserve, have a significant impact on the AUD/USD exchange rate. The upcoming economic data for the US, such as retail sales and unemployment claims, are likely to drive the pair’s market sentiment and could affect the Aussie’s forecast.

Price Action:
The AUD/USD H4 chart, shows a steady uptrend after a prolonged downtrend, as indicated by the price movements above the Ichimoku Cloud. The pair’s price action suggests that the pair is currently in a consolidation phase, with potential for continued bullish momentum. The price has recently bounced from a key support level and is now trading within a rising channel. The Aussie is facing resistance near the upper boundary of this channel, and a breakout above this level could signal a continuation of the uptrend.

Key Technical Indicators:
Ichimoku Cloud: The AUD/USD price is trending above the Ichimoku Cloud, indicating its bullish market environment. The cloud itself acts as a support zone, and the price's position above it suggests that the uptrend is still intact. However, the flat Kijun-Sen line might indicate some hesitation or consolidation in the near term.
RSI (Relative Strength Index): The RSI is hovering around 50, which is a neutral zone, suggesting that the market is not overbought or oversold. This level indicates that there is room for further price movement in either direction, but the current consolidation phase might lead to a continuation of the existing trend if the RSI begins to rise.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, with a positive histogram, indicating that bullish momentum is still present. The increasing distance between the MACD line and the signal line suggests that the upward movement could continue if the current trend persists.

Support and Resistance:
Support Levels: The first support is located at 0.6596, which is the lower boundary of the rising channel and close to the Ichimoku Cloud. The next significant support level is at 0.6516, aligning with a previous swing low and the bottom of the cloud.
Resistance Levels: Immediate resistance is at 0.6640, which is the upper boundary of the rising channel. A breakout above this level could see the price move towards the next resistance at 0.6680, which coincides with a previous high.

Conclusion and Consideration:
The AUD/USD technical analysis today is showing signs of a potential continuation of the Aussie’s bullish trend, supported by the positive signals from the Ichimoku Cloud, MACD, and the price's position within the rising channel. The RSI indicates that the market is currently in a neutral state, allowing for further price movement in either direction. Traders should monitor the upcoming US economic data releases, as these could influence the strength of the USD and impact the AUD/USD fundamental outlook. A breakout above the 0.6640 resistance level could signal a continuation of the uptrend, while a drop below the 0.6596 support could indicate a potential reversal or deeper consolidation.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
15.08.2024

GBP/CAD H4 Technical and Fundamental Analysis for 16.08.2024 (https://fxglory.com/2024/08/15/gbp-cad-h4-technical-and-fundamental-analysis-for-16-08-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBPCAD currency pair represents the exchange rate between the British Pound (GBP) and the Canadian Dollar (CAD). Today, the GBP might experience fluctuations due to upcoming economic data releases, such as the UK's retail sales figures, which can provide insight into consumer spending and economic health. Meanwhile, the CAD is likely to be influenced by the release of Canadian inflation data, which will be closely monitored for any indications of future monetary policy adjustments by the Bank of Canada. Additionally, oil prices, a critical factor for the CAD, remain volatile, potentially affecting the CAD's strength against the GBP.

Price Action:
In the H4 timeframe, the GBP/CAD has exhibited a bullish trend over the past week. The price has been moving within an ascending channel, as indicated by the clear higher highs and higher lows formation. The last three candles have been bullish, with the most recent candle closing near a key resistance level, suggesting strong buying momentum. However, the price is nearing the upper boundary of the ascending channel, which may act as a resistance zone, potentially leading to a consolidation phase or a minor pullback.

Key Technical Indicators:
Parabolic SAR (0.2): The Parabolic SAR indicator shows a bullish trend, with the last three dots placed below the candlesticks. This positioning of the Parabolic SAR below the price indicates continued upward momentum. The recent bullish candles reinforce the likelihood of further gains in the short term unless a reversal signal emerges.
Alligator Indicator: The Alligator indicator is currently bullish, with the green lips line (fastest moving average) crossing above the red teeth line (medium moving average) and the red teeth line positioned above the blue jaws line (slowest moving average). This alignment of the Alligator's lines indicates that the upward trend is strengthening, with the GBPCAD price likely to continue its bullish movement in the near term.
MACD (Moving Average Convergence Divergence): The MACD is in bullish territory, with the MACD line above the signal line. The histogram bars are positive, indicating that the bullish momentum is gaining strength. The widening gap between the MACD and the signal line suggests an acceleration in the upward trend, although traders should watch for any signs of divergence that could indicate a potential trend reversal.
%R (14): The Williams %R is currently around -8.62, indicating that the GBP CAD pair is in overbought territory. While this suggests that the bullish trend is strong, it also signals a potential for a short-term correction as the market may be overstretched. Traders should be cautious of a possible pullback or consolidation in the coming sessions.

Support and Resistance:
Support: Immediate support is located at 1.75615, which aligns with the 38.2% Fibonacci retracement level and the lower boundary of the ascending channel. This level has acted as a strong support in the past and could provide a base for further upward movement if the price tests this area.
Resistance: The nearest resistance level is at 1.76740, which corresponds to the 61.8% Fibonacci retracement level and the upper boundary of the ascending channel. A break above this level could open the door for further gains, potentially targeting the next resistance around 1.77500.

Conclusion and Consideration:
The GBP/CAD forex pair on the H4 chart shows strong bullish momentum supported by the Parabolic SAR, Alligator, MACD, and %R indicators. The current price action within the ascending channel indicates that the bulls remain in control. However, with the %R in overbought territory, there could be a risk of a short-term pullback or consolidation. Traders should be cautious around the 61.8% Fibonacci resistance level and consider any potential retracements as opportunities to re-enter the bullish trend.

Disclaimer: This GBPCAD technical and fundamental analysis is intended for informational purposes only and does not constitute investment advice. Market conditions can change rapidly, and it is essential to conduct your own analysis and stay updated with the latest information before making any trading decisions.

FXGlory
16.08.2024

CADJPY H4 Technical and Fundamental Analysis for 19.08.2024 (https://fxglory.com/2024/08/19/cadjpy-h4-technical-and-fundamental-analysis-for-19-08-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The CAD/JPY fundamental analysis today is influenced by various macroeconomic factors and market sentiment. The Canadian Dollar is often correlated with oil prices, as Canada is a major oil exporter. Rising oil prices typically strengthen the CAD. Meanwhile, the Japanese Yen, often seen as a safe-haven currency, is influenced by global risk sentiment and Japan’s economic indicators, such as machine orders and monetary policy. The upcoming release of Japan's machine orders data is crucial as it may affect the JPY by indicating the health of Japan’s manufacturing sector. A stronger-than-expected release could lead to a stronger Yen, putting pressure on the CAD/JPY forecast.

Price Action:

The CAD/JPY H4 chart shows that the pair has been in a consolidation phase after a previous downtrend. The price is currently moving within a channel, bounded by rising trendlines, suggesting a gradual upward movement. However, recent candles indicate a struggle to break above the immediate resistance, highlighting potential indecision in the market. The pair’s price action shows it has recently tested and held above a key support level, which could suggest a buildup for another upward push if it holds.

Key Technical Indicators:

Ichimoku Cloud:
The price is trading near the upper boundary of the Ichimoku Cloud, which acts as resistance. A break above this level could signal a potential bullish breakout, while failure to do so might lead to a retracement.
RSI (Relative Strength Index):
The RSI is currently at 55.90, indicating that the pair is in neutral to slightly bullish territory. There’s still room for upward movement before the market reaches overbought conditions.
MACD (Moving Average Convergence Divergence):
The MACD line is slightly above the signal line, and the histogram is in positive territory, suggesting that the bullish momentum is still intact but not overwhelmingly strong.

Support and Resistance:

Support Levels:
The key support levels are at 107.495 and 107.010, with the latter being crucial as it aligns with the lower trendline of the channel.
Resistance Levels:
Immediate resistance is found at 108.052, followed by a stronger resistance at 108.749. A break above these levels could lead to further gains toward 109.500.

Conclusion and Consideration:
The CAD/JPY technical analysis today on the pair’s H4 chart depicts a consolidation phase with the potential for an upward breakout if it can sustain above the current resistance levels. Traders should monitor the RSI for signs of overbought conditions and the MACD for any changes in momentum. Given the upcoming machine orders data from Japan, there may be increased volatility in the pair. Conservative traders might wait for a clear breakout from the current range before entering new positions. It’s also advisable to implement risk management strategies, such as stop-loss orders, especially given the pair's proximity to key resistance levels.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
19.08.2024

EURUSD H4 Technical and Fundamental Analysis for 21.08.2024 (https://fxglory.com/2024/08/21/eurusd-h4-technical-and-fundamental-analysis-for-21-08-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD pair, reflecting the exchange rate between the Euro and the US Dollar, is currently influenced by recent economic data releases from both the Eurozone and the United States. In the Eurozone, the latest PMI readings suggest a mixed economic outlook. The French Manufacturing PMI slightly improved to 44.4 from 44.0, indicating a marginal recovery, although the sector remains in contraction. The French Services PMI edged up to 50.2 from 50.1, pointing to stability in the services sector. Similarly, Germany’s Manufacturing PMI, while still weak at 43.4, showed a minor improvement from 43.2, whereas the Services PMI dipped slightly to 52.3 from 52.5, reflecting a slight slowdown. Meanwhile, in the United States, a significant drawdown in Crude Oil Inventories by -2.0M barrels, against expectations of a 1.4M increase, could signal potential supply constraints, influencing inflation expectations. Additionally, the upcoming FOMC Meeting Minutes will be crucial, as they are likely to offer insights into the Federal Reserve’s stance on future interest rates, a key driver of the USD's strength or weakness. These mixed economic signals suggest a cautious outlook for the EUR/USD pair, with the potential for heightened volatility depending on further developments in economic data and central bank policies.

Price Action:
On the H4 timeframe, the EUR/USD pair has experienced a robust bullish wave, propelling the price towards a significant resistance level. The recent price action has shown the formation of candlestick patterns at this resistance, indicating that the bullish momentum may be losing strength. This setup raises the possibility of a bearish correction, particularly as the price approaches this critical resistance. The technical indicators also reinforce this outlook. The MACD indicator is displaying signs of negative divergence, with the MACD line remaining below the signal line despite recent price highs, suggesting that the bullish momentum could be weakening. Similarly, the Williams %R is signaling overbought conditions, hovering near the -10 level, which typically precedes a market pullback.

Key Technical Indicators:

MACD (Moving Average Convergence Divergence): The MACD indicator is showing signs of a negative divergence, where the MACD line remains below the signal line despite the recent price highs. This divergence could indicate weakening bullish momentum and the potential for a bearish correction.
Williams %R (Percent Range): The Williams %R is also indicating overbought conditions, hovering near the -10 level, suggesting that the market might be due for a pullback.

Support and Resistance:
Support: Potential support levels to watch for a bearish correction include the 61.8% Fibonacci retracement at 1.0975, the 50% retracement at 1.0901, and the 38.2% retracement at 1.0831.
Resistance: The nearest resistance is at 1.1187, which corresponds with the current high and the 100% Fibonacci extension level.

Conclusion and Consideration:
The EUR/USD pair on the H4 chart is at a critical juncture, with potential for a bearish correction after a significant bullish wave. The negative divergence in the MACD and the overbought signal from the Williams %R suggest that a pullback could be imminent. Traders should consider short positions if the price action confirms a reversal at the current resistance level, targeting the key Fibonacci retracement levels as potential profit zones.

Disclaimer: The EURUSD provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information. Always consider risk management strategies and consult with a financial advisor if necessary.

FXGlory
21.08.2024

GBPUSD H4 Technical and Fundamental Analysis for 22.08.2024 (https://fxglory.com/2024/08/22/gbpusd-h4-technical-and-fundamental-analysis-for-22-08-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD news analysis today is currently influenced by several key economic indicators. For today, the focus is on the U.S. data releases, including Jobless Claims and PMI figures, which will provide insights into the U.S. economy's health. Stronger-than-expected data could bolster the U.S. Dollar, leading to potential changes in the GBP/USD exchange rate. On the other hand, the U.K.'s PMI data and CBI Industrial Trends Survey are essential for gauging the British economy's performance. Better-than-expected U.K. data could support the Pound, but overall for this pair that is also known as the “Cable”, its market sentiment will largely be driven by U.S. economic indicators due to their global impact.

Price Action:
The GBP/USD H4chart, depicts the pair in a clear uptrend, with the price moving within an ascending channel. The recent candles show the Cable’s strong bullish momentum, with the price making higher highs and higher lows. The pair’s price action suggests that the pair is likely to continue its upward trajectory, although the price is currently approaching significant resistance levels that could lead to a temporary pullback or consolidation.

Key Technical Indicators:
Ichimoku Cloud:
The price is well above the Ichimoku Cloud, which is a strong bullish signal. The Tenkan-sen (blue) and Kijun-sen (red) lines are in a bullish crossover, further supporting the upward momentum. The Chikou Span (green) is also positioned above the price, confirming the bullish trend.
RSI (Relative Strength Index):
The RSI is currently around 79.88, indicating that the pair is in overbought territory. While this suggests that the bullish momentum is strong, it also warns of a possible correction or consolidation in the near term as the market may need to cool off.

Support and Resistance:
Support Levels:
Immediate support is located at 1.3034, followed by stronger support at 1.2939, which coincides with the lower boundary of the Ichimoku Cloud.
Resistance Levels:
The pair is currently testing resistance at 1.3089, with the next significant resistance level around 1.3140.

Conclusion and Consideration:
The GBP/USD technical analysis today shows a strong bullish trend, supported by the Ichimoku Cloud and the ascending channel formation. However, the RSI indicates that the pair is overbought, suggesting that a correction could be imminent. Traders should consider the upcoming U.S. economic data releases, which could influence the pair's forecast today. A break above 1.3089 could lead to further gains, but caution is advised due to the overbought RSI. Proper risk management, including setting stop-losses below the lower channel boundary, is recommended to protect against potential market volatility.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory

USDCAD H4 Technical and Fundamental Analysis for 08.26.2024 (https://fxglory.com/2024/08/25/usdcad-h4-technical-and-fundamental-analysis-for-08-26-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD news analysis today is influenced by a variety of macroeconomic factors, including crude oil prices (since Canada is a major oil exporter), interest rate differentials between the Federal Reserve and the Bank of Canada, and economic indicators such as GDP growth, employment data, and inflation rates. Additionally, recent data releases related to U.S. durable goods orders are crucial as they indicate future production levels and economic strength. An actual reading higher than forecasted is generally seen as positive for the U.S. dollar. As a leading indicator of economic activity, a robust increase in these orders can signal that manufacturers anticipate stronger demand, which could support the USD against other currencies, including the CAD, subsequently affecting the pair also known as the “Loonie.”

Price Action:
The USD/CAD H4 chart shows the pair’s bearish trend, characterized by a series of lower highs and lower lows. The Loonie’s price action has seen a downward momentum, breaking below key support levels, and trending within a downward-sloping channel. The pair’s candlestick patterns indicate selling pressure, with a lack of significant bullish reversal signs at the moment. A breakdown below the current support zone could lead to further declines, confirming the continuation of the bearish trend.

Key Technical Indicators:
Ichimoku Cloud: The price is trading below the Ichimoku cloud, indicating the pair’s bearish market sentiment. The cloud itself is acting as a resistance, and the lagging span (Chikou Span) confirms this bearish outlook as it is also below the price action. The future cloud is thin and bearish, suggesting that there is no immediate sign of reversal in this downtrend.
RSI (Relative Strength Index): The RSI is currently at 21, indicating that the market is in oversold territory. This suggests that while the bearish momentum is strong, there might be a potential for a short-term corrective bounce. However, oversold conditions alone do not indicate a reversal but rather that the current trend might be overstretched.
Stochastic Oscillator: The Stochastic indicator is also in the oversold region (around 10.92), which aligns with the RSI reading, indicating that the selling pressure might be nearing exhaustion. The possibility of a bullish crossover in the stochastic lines may hint at a potential short-term recovery, but confirmation is needed.

Support and Resistance:
Support Levels: Immediate support is seen at the 1.35062 level, which aligns with the lower boundary of the current descending channel. A break below this level could open the way towards further downside targets around 1.3450.
Resistance Levels: The nearest resistance level is marked at 1.35574, followed by a more significant resistance at 1.36139, which corresponds to the upper boundary of the descending channel and the Ichimoku cloud’s lower edge.

Conclusion and Consideration:
The USD/CAD technical analysis today on the H4 timeframe is exhibiting its strong bearish sentiment, as evidenced by the technical indicators and the descending price channel. While oversold conditions on the RSI and Stochastic indicators suggest a possible short-term correction, the prevailing trend remains bearish. Traders should watch for the price action around the key support and resistance levels for potential breakout or reversal signals. The Loonie’s Fundamental analysis data, such as the upcoming durable goods orders release, could provide additional volatility and direction for the USD/CAD forecast. Risk management strategies, including the use of stop-loss orders, are advisable given the current market conditions.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
08.26.2024

USD/JPY H4 Technical and Fundamental Analysis for 08.27.2024 (https://fxglory.com/2024/08/26/usd-jpy-h4-technical-and-fundamental-analysis-for-08-27-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The upcoming economic data releases from both the US and Japan are set to influence the USD/JPY pair's direction prediction. In the US, key indicators such as the S&P/CS Composite-20 HPI y/y, HPI m/m, CB Consumer Confidence, and Richmond Manufacturing Index will be released. The S&P/CS Composite-20 HPI y/y is expected to show a slight decrease from 6.8% to 6.2%, indicating a cooling in the housing market. Meanwhile, the CB Consumer Confidence index is expected to rise to 100.9 from a previous 100.3, suggesting improved consumer sentiment. The Richmond Manufacturing Index is projected to show an improvement from -17 to -14, which still indicates contraction but at a slower pace. These mixed data points could create a volatile trading environment for the USD.
On the Japanese side, the Services Producer Price Index (SPPI) y/y is forecasted to slightly decrease from 3.0% to 2.9%, signaling a potential slowdown in price pressures; which stands as an important forecast element for this fore pair. The BOJ Core CPI y/y is expected to remain stable at 2.1%, suggesting persistent inflation concerns within Japan. The stable inflation rate and the recent dovish stance of the Bank of Japan could continue to exert downward pressure on the JPY.

Price Action:
The USD/JPY pair is forming a bearish flag pattern on the H4 chart after a significant bearish wave, which suggests a potential continuation of the downward trend. The price is currently consolidating within this pattern, and a breakout to the downside could accelerate the bearish momentum. However, the presence of bullish technical indicators points to a possible short-term corrective wave.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI is currently at 41.70, indicating bearish sentiment, yet it is not in the oversold territory, suggesting room for further downside before a reversal might occur.
MACD (Moving Average Convergence Divergence): The Stochastic is approaching the 70 level, indicating potential for a bullish wave in the short term if it crosses above this threshold. This could signal a temporary upward correction within the broader bearish trend.

Support and Resistance:
Support Levels: The nearest support is at the lower trendline of the bearish flag pattern, around 144.00. A break below this level could see the pair testing the next support near 142.50, which aligns with previous lows.
Resistance Levels: Immediate resistance is at the upper trendline of the bearish flag, around 145.00. A break above this level could target the next resistance at 146.50, potentially invalidating the bearish flag pattern and signaling a bullish reversal.

Conclusion and Consideration:
The USD/JPY H4 chart suggests that the pair is consolidating within a bearish flag pattern, with potential for further downside if key support levels are breached. Traders should closely monitor the upcoming economic data releases from both the US and Japan, as these could provide the catalyst for the next major move. Given the mixed signals from technical indicators and fundamental outlook, traders should be prepared for both bearish and short-term bullish scenarios, adapting their strategies accordingly to the evolving market conditions.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
08.27.2024

EURUSD H4 Technical and Fundamental Analysis for 28.08.2024 (https://fxglory.com/2024/08/28/eurusd-h4-technical-and-fundamental-analysis-for-28-08-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The EUR/USD pair, reflecting the exchange rate between the Euro and the US Dollar, is currently navigating through various economic data releases from both the Eurozone and the United States. In the Eurozone, inflation data has presented a mixed picture. Germany's Preliminary Consumer Price Index (CPI) came in flat at 0.0% for the month, below expectations of a 0.3% increase, suggesting subdued inflationary pressures in Europe's largest economy. Meanwhile, Spain's Flash CPI showed a year-on-year increase of 2.4%, which is below the anticipated 2.8%, indicating lower inflationary momentum than expected. These figures suggest that inflation concerns might be less pronounced in the Eurozone, possibly leading to a more dovish stance from the European Central Bank.
On the US side, economic indicators such as the Preliminary Gross Domestic Product (GDP) q/q showed a stable 2.8% growth rate, aligning with market expectations. This stability is indicative of a resilient economic outlook in the US. Additionally, the Unemployment Claims remained consistent at 232K, further reinforcing a stable labor market. The Preliminary GDP Price Index, also stable at 2.3%, aligns with market forecasts, indicating controlled inflation in the US. These stable economic indicators in the US might support the Federal Reserve's current monetary policy stance, impacting the USD's strength relative to the Euro.

Price Action:
On the H4 timeframe, the EUR/USD pair has experienced a notable bullish wave, driving the price higher towards key resistance levels. Recent price action suggests that this bullish momentum may be waning, as indicated by candlestick patterns that show indecision or possible reversal near these resistance levels. A bearish correction could be on the horizon, particularly if the bullish momentum fails to break through the established resistance.

Key Technical Indicators:

Ichimoku Cloud: The Ichimoku Cloud analysis shows that Tenkan-sen (blue line) is about to cross below Kijun-sen (red line), a bearish signal suggesting potential trend reversal. The price has been trading above the cloud, indicating an uptrend, but the potential Tenkan-Kijun crossover is a warning of a shift in momentum.
Relative Strength Index (RSI): The RSI is showing a negative divergence, where the price makes higher highs, but the RSI fails to confirm those highs, indicating weakening bullish momentum. Currently, RSI is at 55.8787, which is in the neutral zone but leaning towards overbought conditions.
Volume Analysis: The volume has not significantly supported the recent bullish wave, implying that the upward momentum might lack the strength to sustain a further rally. Lower volume during price increases often indicates potential exhaustion of buying interest.

Support and Resistance:
Support: The nearest resistance level is at 1.1187, which is a recent high and could serve as a barrier for further upward movement. A break above this level could signal the continuation of the bullish trend.
Resistance: Key support levels to monitor include 1.1100, near the base of the Ichimoku cloud, and further below at 1.0975, where a significant Fibonacci retracement level lies.

Conclusion and Consideration:
The EUR/USD pair on the H4 chart is showing signs of a potential bearish correction following a strong bullish wave. Negative divergence in the RSI, a potential bearish Tenkan-sen and Kijun-sen crossover in the Ichimoku Cloud, and low volume support suggest that the bullish momentum may be fading. Traders should look for confirmation of a reversal through price action around the current resistance level before considering short positions. Profit-taking could be aimed at key support levels like 1.1100 and 1.0975, using tight stop-losses to manage risk effectively.

Disclaimer: The EUR/USD analysis provided is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information. Always consider risk management strategies and consult with a financial advisor if necessary.

FXGlory
28.08.2024

AUDUSD H4 Technical and Fundamental Analysis for 08.29.2024 (https://fxglory.com/2024/08/29/audusd-h4-technical-and-fundamental-analysis-for-08-29-2024/)

Time Zone: GMT
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The Australian Dollar (AUD) against the US Dollar (USD) is experiencing potential volatility due to key economic events scheduled today. In the US, the market will closely watch Raphael Bostic's speech at the Federal Reserve Bank of Atlanta, where his comments may provide insights into future monetary policy directions, affecting the USD's strength. Moreover, important data releases like the GDP Second Release and Unemployment Claims are expected, which can offer clues about the US economy's health and labor market. On the AUD side, no major economic releases are scheduled for today, which may keep the currency influenced primarily by external factors, especially from the USD.

Price Action:
The AUDUSD forex pair is showing a bullish trend on the H4 chart. The pair is trading within an ascending channel, with the recent candles moving towards the upper boundary. The last two candlesticks have shown positive movement, with the most recent candle being bullish, indicating sustained upward momentum. The AUD/USD price is currently moving between the 61.8% and 100% Fibonacci retracement levels, edging closer to the 100% mark. This suggests a strong upward bias, with the potential to test higher resistance levels.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands have tightened, indicating reduced volatility and a potential buildup for a breakout. The price has been trading in the upper half of the bands and is now near the upper band, suggesting that the bullish momentum is still intact. This position implies a higher probability of further upward movement in the AUD USD price. However, traders should watch for any signs of reversal as the price approaches the upper band limit.
MACD (Moving Average Convergence Divergence): The MACD line is positioned above the signal line, and the histogram is showing positive but decreasing momentum. This indicates that while the bullish trend persists, the strength behind the movement is diminishing. Forex traders should watch for any potential crossover, which could signal a shift in momentum and a possible price correction in the AUD/USD pair.
RSI (Relative Strength Index): The RSI is currently at 61.23, which is below the overbought threshold of 70. This suggests that there is still room for upward movement before the AUD-USD reaches overbought conditions. The RSI supports the ongoing bullish trend and indicates that the market is not overly stretched.
Parabolic SAR: The Parabolic SAR dots have shifted below the price, indicating a bullish trend. This shift supports the upward movement, with the dots acting as potential support levels. As long as the Parabolic SAR remains below the price, the bullish bias in the AUD USD is likely to continue.

Support and Resistance Levels:
Support: The immediate support is at the 61.8% Fibonacci level, around 0.67100, followed by stronger support near 0.66865, which aligns with the 50% retracement level.
Resistance: The primary resistance is at the 100% Fibonacci retracement level, approximately 0.68345. If the price breaks above this level, the next target could be the upper boundary of the ascending channel.

Conclusion and Consideration:
The AUDUSD pair on the H4 chart shows continued bullish momentum, underpinned by positive price action and supported by the technical indicators like Bollinger Bands, MACD, RSI, and Parabolic SAR. While the trend remains upward, caution is advised due to the tightening Bollinger Bands and the decreasing momentum shown by the MACD histogram. Upcoming economic events and data releases, especially from the US, could introduce volatility and influence price movements. Traders should monitor these developments closely and consider employing risk management strategies to navigate potential market fluctuations.

Disclaimer: This AUDUSD analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it is essential to stay updated with the latest information.

FXGlory
08.29.2024

EUR/CAD H4 Technical and Fundamental Analysis for 08.30.2024 (https://fxglory.com/2024/08/30/eur-cad-h4-technical-and-fundamental-analysis-for-08-30-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The upcoming economic data releases from both the US and Japan are set to influence the USD/JPY pair's direction prediction. In the US, key indicators such as the S&P/CS Composite-20 HPI y/y, HPI m/m, CB Consumer Confidence, and Richmond Manufacturing Index will be released. The S&P/CS Composite-20 HPI y/y is expected to show a slight decrease from 6.8% to 6.2%, indicating a cooling in the housing market. Meanwhile, the CB Consumer Confidence index is expected to rise to 100.9 from a previous 100.3, suggesting improved consumer sentiment. The Richmond Manufacturing Index is projected to show an improvement from -17 to -14, which still indicates contraction but at a slower pace. These mixed data points could create a volatile trading environment for the USD.
On the Japanese side, the Services Producer Price Index (SPPI) y/y is forecasted to slightly decrease from 3.0% to 2.9%, signaling a potential slowdown in price pressures; which stands as an important forecast element for this fore pair. The BOJ Core CPI y/y is expected to remain stable at 2.1%, suggesting persistent inflation concerns within Japan. The stable inflation rate and the recent dovish stance of the Bank of Japan could continue to exert downward pressure on the JPY.

Price Action:
The USD/JPY pair is forming a bearish flag pattern on the H4 chart after a significant bearish wave, which suggests a potential continuation of the downward trend. The price is currently consolidating within this pattern, and a breakout to the downside could accelerate the bearish momentum. However, the presence of bullish technical indicators points to a possible short-term corrective wave.

Key Technical Indicators:
Support Levels: The immediate support is at 1.4881. A break below this level could see the pair testing lower support zones, which may align with historical lows.
Resistance Levels: The immediate resistance is the descending trend line. A successful breakout above this line, confirmed with a close above 1.4932, could indicate a shift to a bullish phase, targeting higher resistance areas.

Support and Resistance:
Support Levels: The nearest support is at the lower trendline of the bearish flag pattern, around 144.00. A break below this level could see the pair testing the next support near 142.50, which aligns with previous lows.
Resistance Levels: Immediate resistance is at the upper trendline of the bearish flag, around 145.00. A break above this level could target the next resistance at 146.50, potentially invalidating the bearish flag pattern and signaling a bullish reversal.

Conclusion and Consideration:
The EUR/CAD H4 chart suggests that while the pair is in a bearish trend, technical indicators are showing signs of a potential short-term reversal due to bullish divergence and oversold conditions. Fundamental factors, including weaker-than-expected Eurozone inflation data and slightly weaker Canadian GDP figures, could provide mixed influences on the pair. Traders should closely monitor the price action around the descending trend line for potential breakout opportunities, either to the upside for a buy signal or to the downside below the support level for a sell signal.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
08.30.2024

EUR/USD H4 Technical and Fundamental Analysis for 09.03.2024 (https://fxglory.com/2024/09/03/eur-usd-h4-technical-and-fundamental-analysis-for-09-03-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD currency pair is experiencing notable fluctuations influenced by a mix of European economic data and US market dynamics. Today's EURUSD calendar includes significant releases like the Real Retail Sales from Germany and the French General Budget Outcome, both pivotal in shaping the Euro's trajectory. Concurrently, the speech by Deutsche Bundesbank President Joachim Nagel is highly anticipated, with potential implications on the Euro's strength depending on the tone and content regarding future monetary policy. Across the Atlantic, the US market awaits the PMI data, which is a critical economic health indicator. Such data can directly impact the USD's strength against a backdrop of global economic uncertainties.

Price Action:
The EUR/USD Price Action has shown a consistent bearish trend on the H4 chart, marked by a descending channel pattern. Recent sessions have recorded a narrow oscillation between the middle and lower Bollinger Bands, indicative of bearish momentum with intermittent stability. The last three candles, specifically bearish, reinforce the downtrend, hinting at potential continued bearish pressure if the upper resistance of the channel holds.

Key Technical Indicators:
Bollinger Bands: The EUR/USD's price movement within the Bollinger Bands displays a bearish trend, as it hovers between the middle and lower bands. The narrowing of the bands slightly suggests a decrease in market volatility and a potential consolidation phase could be nearing.
Parabolic SAR: Indicative dots positioned above the candles signal continued bearish dominance, aligning with the overall downtrend observed in the price channel.
RSI (Relative Strength Index): With an RSI value at 34.28, the market is nearing oversold territory, suggesting a potential slowdown in the bearish momentum or a forthcoming bullish correction.
%R (Williams Percent Range): The %R indicator at -87.38 further corroborates the strong bearish momentum, as it lies close to the extreme end of its range, signaling that the market might be oversold.

Support and Resistance Levels:
Support: The nearest significant support level is observed around 1.09470, which aligns with historical lows and the lower Bollinger Band.
Resistance: Resistance can be found at approximately 1.11095, coinciding with the channel's upper boundary and the middle Bollinger Band.

Conclusion and Considerations:
The EUR/USD pair is currently in a bearish phase, indicated by both price action and key technical indicators within the H4 timeframe. Investors should remain cautious, as the upcoming economic announcements from both Europe and the United States could inject significant volatility and potentially alter the currency pair's direction. Traders are advised to watch for any breakout above the channel resistance or a bounce from support levels as key signals for short-term trading opportunities.

Disclaimer: The EUR/USD H4 analysis is provided as a general market commentary and does not constitute investment advice. Financial trading involves risks, including the potential loss of principal. Investors should conduct their own research or consult a professional advisor before making any investment decisions. Changes in market conditions can occur rapidly, requiring constant review and adaptation of strategies.

FXGlory
09.03.2024

Silver/USD (XAGUSD) H4 Technical and Fundamental Analysis for 09.05.2024 (https://fxglory.com/2024/09/05/silver-usd-xagusd-h4-technical-and-fundamental-analysis-for-09-05-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
As of the latest market insights, Silver trading against the US Dollar (XAGUSD) on the H4 timeframe shows nuanced movements ahead of significant economic data releases. Today, US economic indicators such as job cut announcements, ADP employment change, and initial jobless claims could sway the USD strength significantly. Favorable reports are expected to bolster the USD, exerting downward pressure on Silver prices. Conversely, weaker data may enhance Silver's appeal as a hedge, pushing prices upward. Investors and traders should remain vigilant to these updates to gauge potential market directions effectively.

Price Action:
On the H4 chart, Silver has been navigating a challenging terrain marked by a descending channel, showcasing a bearish trend that recently attempted a reversal. The Silver USD price action near the middle Bollinger Band indicates a struggle between bears and bulls, with recent candles attempting to break above this resistance. The near-touch of the Fibonacci 50% retracement level suggests a potential shift in momentum if sustained buying pressure continues, pointing to an upcoming test of higher resistance levels.

Key Technical Indicators:
Bollinger Bands: The Silver price has been predominantly in the lower half of the bands but recently rebounded from the lower band towards the middle. This movement indicates a possible alleviation of the selling pressure, with the current Silver price attempting to breach the middle band—a crucial pivot for further bullish signals.
Parabolic SAR: Recent dots positioned below the candles signify a potential reversal from the prior downtrend. This indicator suggests that the downtrend momentum is losing strength, and a bullish sentiment might be developing, especially as the price approaches the middle Bollinger Band and the Fib 50% level.
RSI (Relative Strength Index): With a reading of 41.93, the RSI indicates that the market is neither oversold nor overbought, leaving room for potential upward movement if buying pressure increases.
MACD (Moving Average Convergence Divergence): The MACD line remains below the signal line, indicating ongoing bearish momentum. However, the decreasing histogram bars may suggest that the bearish momentum is weakening, aligning with the potential shift suggested by other indicators.

Support and Resistance Levels:
Support Levels: Immediate support is found at the 23.6% Fibonacci retracement level, around $27.322, where previous lows have consolidated.
Resistance Levels: Initial resistance is observed at the 38.2% Fibonacci level, near $28.018. A breach above this could test the 50% level at approximately $28.710, which aligns with the middle Bollinger Band.

Conclusion and Consideration:
The Silver/ XAGUSD market on the H4 chart presents a complex scenario, balancing between bearish trends and emerging bullish signals. The approaching economic data from the US could serve as a catalyst for significant price movements. Traders should monitor these indicators closely, considering both the technical setups and external economic factors influencing market dynamics.

Disclaimer: This Silver USD analysis is provided for informational purposes only and does not constitute investment advice. Investors should conduct their due diligence and consider their financial position before engaging in trades based on this analysis.

FXGlory
09.05.2024

USDCAD H4 Technical and Fundamental Analysis for 09.06.2024 (https://fxglory.com/2024/09/06/usdcad-h4-technical-and-fundamental-analysis-for-09-06-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDCAD pair remains sensitive to key economic releases from both the U.S. and Canada. On the U.S. side, today’s Non-Farm Payrolls (NFP) and unemployment data will have a major impact on the U.S. Dollar’s strength. Positive employment data can strengthen the Dollar as it signals economic growth and could lead to further interest rate hikes by the Federal Reserve. Additionally, any hawkish commentary from Federal Reserve officials, including John Williams and Christopher Waller, will be closely watched for clues on monetary policy direction. On the Canadian side, the upcoming employment and unemployment data are key drivers for the Canadian Dollar. Better-than-expected employment figures can boost the CAD, indicating stronger economic activity in Canada. These releases will likely bring increased volatility to the USD/CAD forex pair.

Price Action:
On the H4 chart, the USD CAD is currently in a bearish trend, trading below the 50% Fibonacci retracement level. Over the last few sessions, the price has been consolidating between the 1.34827 support and the 1.35562 resistance level. The pair briefly attempted to recover but has since retraced and is now hovering near the lower Bollinger Band. The bearish pressure is strong, though a potential bullish correction could be on the horizon if key support levels hold.

Technical Indicators:
Bollinger Bands: The USD-CAD price is in the lower half of the Bollinger Bands, indicating bearish pressure. It is trying to move closer to the middle band, signaling a possible consolidation phase. The bands have widened recently, indicating increased volatility, which may precede a breakout in either direction.
Parabolic SAR: The Parabolic SAR dots have recently flipped above the candles, indicating that the current trend is bearish. Traders should watch for any reversal signals that could emerge if the price moves above key levels.
RSI (Relative Strength Index): The RSI is at 45.55, which is below the 50 neutral mark but far from the oversold territory. This suggests that while the bearish momentum is intact, there may still be room for further downside before the market becomes oversold.
MACD (Moving Average Convergence Divergence): The MACD histogram is slightly below the zero line, showing weak bearish momentum. The MACD line remains below the signal line, but any potential crossover could indicate the beginning of a bullish correction.

Support and Resistance Levels:
Support: The immediate support is located at 1.34827. A break below this level could open the door for further downside, potentially targeting the next key support at 1.34000.
Resistance: The nearest resistance is at 1.35562. If the price manages to break above this level, it could trigger a bullish correction towards the next resistance at 1.36300.

Conclusion and Consideration:
The USDCAD H4 chart shows a clear bearish bias, with key indicators like the Bollinger Bands, Parabolic SAR, and MACD signaling downward momentum. However, upcoming fundamental data, especially from the U.S. labor market and Canadian employment figures, will likely play a critical role in determining the pair's next move. Traders should remain cautious and monitor support and resistance levels closely, as a break could signal a shift in momentum. Additionally, news from Federal Reserve officials may provide further insight into the USD’s potential strength.

Disclaimer: The analysis provided here is for informational purposes only and does not constitute financial advice. Trading Forex involves significant risk, and traders should conduct their own research or consult with a professional before making any trading decisions. Always stay updated on the latest market conditions, as they can change rapidly.

FXGlory
09.06.2024

EURUSD Daily Technical and Fundamental Analysis for 09.09.2024 (https://fxglory.com/2024/09/09/eurusd-h4-technical-and-fundamental-analysis-for-09-09-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD currency pair is currently influenced by key economic releases from both the Eurozone and the United States. From the USD side, the upcoming Wholesale Inventories report from the Census Bureau will be closely watched. A figure lower than forecast could signal inventory depletion and boost future purchasing power, benefiting the USD. Additionally, the Federal Reserve's Consumer Credit data, which reflects consumer spending confidence, could strengthen the USD if it shows an increase, as rising credit often correlates with consumer optimism. For the Euro, the Sentix Investor Confidence index will be critical. A higher-than-expected figure would indicate optimism in the Eurozone, potentially supporting the EUR. However, a negative result could reflect investor pessimism, putting further pressure on the Euro. These data releases will influence market sentiment and are likely to drive volatility in the EUR/USD pair.

Price Action:
The price action on the EUR/USD H4 chart shows a bearish trend, with the pair experiencing significant downward movement since August 23, 2024. After reaching a low around 1.1032, the pair retraced upwards, but the recovery was halted near the 61.8% Fibonacci retracement at 1.1184. The most recent candles indicate renewed bearish momentum as the pair failed to hold above the 50% Fibonacci retracement at 1.1108, suggesting that sellers are still in control. The price is currently consolidating around the 38.2% Fibonacci level at 1.1089. A further decline could push the pair back toward the 23.6% retracement level at 1.1067, and a break below this would likely lead to a retest of the recent low at 1.1032. However, if buyers regain control, a push above 1.1108 could lead to a test of the 61.8% level at 1.1184.

Key Technical Indicators:
Triple Exponential Moving Average (TEMA): The TEMA is indicating a bearish bias, with the price trading below the short-term moving average, signaling continued downward momentum. As the price hovers near key support levels, traders should watch for a potential bounce or further downside acceleration if the price remains below the TEMA.
Volumes: Volume analysis reveals that sellers have dominated recent sessions, as higher volumes were recorded during the downtrend. However, volumes have started to decrease slightly as the price approaches key support levels, suggesting that bearish momentum may be weakening. A resurgence in volume during the next price movement will be crucial in confirming the direction of the next trend.
MACD (Moving Average Convergence Divergence): The MACD histogram is currently below the zero line, confirming the bearish trend. Although the histogram bars are shrinking, indicating waning downward momentum, the MACD line remains below the signal line, suggesting that the market sentiment is still bearish. A bullish crossover of the MACD and signal lines would be needed to signal a potential trend reversal.
%R Indicator (Williams Percent Range): The %R indicator is in the oversold zone, currently around -80.85. This suggests that the market could be nearing a point of exhaustion in the current bearish move. While oversold conditions often precede a reversal, strong trends can keep the %R indicator in this zone for some time, so traders should look for confirmation before taking long positions.

Support and Resistance Levels:
Support Levels: The first key support level is at 1.1067, aligned with the 23.6% Fibonacci retracement. A break below this level could open the door to further downside, targeting the recent low at 1.1032, which has provided significant support in recent sessions. If this level is breached, the next psychological support is at 1.1015, where buyers may attempt to step in to prevent further declines.
Resistance Levels: Immediate resistance is at 1.1108, the 50% Fibonacci retracement level, where the price has previously stalled. A breakout above this level would suggest a possible shift in sentiment, targeting the next resistance at 1.1130. The most significant resistance is at 1.1184, the 61.8% Fibonacci retracement level, where sellers are likely to re-enter the market. A close above this level could signal a potential bullish reversal.

Conclusion and Consideration:
The EUR/USD pair remains in a bearish trend on the H4 chart, supported by key technical indicators such as the TEMA and MACD, despite signals of weakening momentum. The upcoming economic releases, particularly from the U.S. Census Bureau and Federal Reserve, as well as the Sentix Investor Confidence report from the Eurozone, will play a pivotal role in determining the next significant price movement. Traders should watch closely for price action around key support and resistance levels, as a break below 1.1067 would indicate continued bearish pressure, while a move above 1.1108 could signal the start of a bullish recovery.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute financial advice. Traders should conduct their own analysis and consider their risk tolerance before making any trading decisions. The forex market can be highly volatile, and unexpected news or events may lead to rapid changes in market conditions.

FXGlory
09.09.2024

GBPAUD H4 Technical and Fundamental Analysis for 09.10.2024 (https://fxglory.com/2024/09/10/gbpaud-h4-technical-and-fundamental-analysis-for-09-10-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Upcoming economic data releases from both the UK and Australia will play a crucial role in predicting the direction of the GBP/AUD pair. Key releases for the GBP currency include Claimant Count Change, Average Earnings Index 3m/y, and the Unemployment Rate. The Claimant Count Change is expected to show an improvement from 135K to 95.5K, suggesting a slight improvement in the UK labor market. Average Earnings Index 3m/y is forecasted to dip from 4.5% to 4.1%, indicating weaker wage growth. The Unemployment Rate is projected to hold steady at 4.1%, which may keep investor confidence intact but limits any significant bullish move in the GBP.
On the Australian side, the Westpac Consumer Sentiment data, along with the NAB Business Confidence report, is expected to provide insights into the current economic outlook. If both data sets show improving confidence, it could strengthen the AUD in the short term.

Price Action:
The GBP/AUD price line has entered a correction phase after a strong bullish wave. Currently, the price is consolidating above the Ichimoku cloud, which suggests that bullish sentiment may remain dominant in the near future. RSI (Relative Strength Index) is not yet in the overbought area, and the stochastic indicator shows that the bearish momentum is nearly exhausted. Traders should keep an eye on the bearish trend line within this correction phase, as a breakout above this area could signal the continuation of the bullish trend.

Key Technical Indicators:
RSI: The RSI is hovering below the overbought level, suggesting more room for upward movement before reaching overextended conditions.
Stochastic: The stochastic oscillator is showing signs of reaching the end of a bearish run, hinting at a potential bullish crossover.
Ichimoku Cloud: The price has broken above the cloud, which is a bullish signal, and could indicate further upside if the price sustains above this area.

Support and Resistance:
Support Levels: The nearest support is at 1.9500, just above the lower boundary of the Ichimoku cloud. A break below this level could signal further bearish correction toward 1.9450.
Resistance Levels: Immediate resistance is at the descending trend line formed in the current correction phase. A breakout above 1.9600 could confirm a continuation of the bullish trend, targeting the next resistance around 1.9700.

Conclusion and Consideration:
The GBP/AUD H4 chart suggests that while the pair is undergoing a corrective phase, the overall sentiment remains bullish due to the price holding above the Ichimoku cloud. If the price breaks above the current descending trend line during this correction, bulls are likely to take over the market again. Traders should also pay close attention to upcoming GBP and AUD economic data releases, as these can highly influence the pair’s movement in the short term.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
09.10.2024

NZDUSD H4 Technical and Fundamental Analysis for 09.11.2024 (https://fxglory.com/2024/09/11/nzdusd-h4-technical-and-fundamental-analysis-for-09-11-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

Upcoming economic data releases from both the U.S. and New Zealand will play a crucial role in determining the future direction of the NZD/USD pair. On the U.S. side, the most anticipated releases include the Core CPI m/m, which is expected to remain steady at 0.2%, and the overall CPI y/y, expected to dip slightly from 2.9% to 2.5%. These inflation figures are significant in shaping the Federal Reserve's monetary policy outlook and could strengthen or weaken the USD depending on the outcome. Crude Oil Inventories and the 10-y Bond Auction are also on the calendar, with lower oil inventories potentially lifting crude prices, which could influence inflationary expectations.
For New Zealand, the Food Price Index (FPI) is expected to show a modest increase of 0.4%. Although not a major economic indicator, any significant deviation could impact the NZD slightly, especially in the absence of other major economic data. Overall, the combination of U.S. inflation data and New Zealand’s FPI may contribute to a period of volatility for the NZD/USD pair.

Price Action:

The NZD/USD price line recently broke below the Ichimoku cloud, indicating a shift to bearish sentiment on the H4 chart. The price action has been forming lower highs and lower lows, a typical characteristic of a downtrend. With the RSI hovering below the 40 level and the stochastic oscillator nearing oversold territory, there is strong potential for continued bearish momentum. Traders should watch for further declines as the bearish structure remains intact, especially if the price fails to break back above the Ichimoku cloud.

Key Technical Indicators:

RSI: The RSI is currently at 38.90, indicating bearish sentiment but not yet oversold. There is room for the pair to continue its downward move before a reversal is likely.
Stochastic: The stochastic oscillator is reading at 29.54 and 41.98, showing potential for a bearish crossover, which could signal continued selling pressure.
Ichimoku Cloud: The price has broken below the Ichimoku cloud, suggesting that the pair is firmly in a bearish trend. A failure to break back above the cloud could lead to further downside.

Support and Resistance:

Support Levels: The nearest support is at 0.6100, which could act as a crucial level to watch for any bearish continuation. A break below this level may see the price heading toward the 0.6050 region.
Resistance Levels: Immediate resistance is at 0.6175, near the lower boundary of the Ichimoku cloud. A break above this level would signal a potential end to the bearish phase, targeting the next resistance at 0.6200.

Conclusion and Consideration:
The NZD/USD H4 chart signals a clear bearish trend with the price breaking below the Ichimoku cloud and forming lower highs and lower lows. Traders should watch the upcoming U.S. CPI data closely, as any surprises could significantly impact the USD and further drive the pair’s movement. On the technical side, as long as the price remains below the cloud, bearish momentum is expected to continue. A break below the support at 0.6100 could accelerate the decline, while a move back above the resistance at 0.6175 would signal a potential shift in sentiment.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
09.11.2024

USDCAD H4 Technical and Fundamental Analysis for 09.12.2024 (https://fxglory.com/2024/09/12/usdcad-h4-technical-and-fundamental-analysis-for-09-12-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The USD/CAD forex pair represents the exchange rate between the U.S. dollar and the Canadian dollar, with both economies being heavily influenced by commodity prices, particularly oil. Recently, the U.S. dollar has experienced some fluctuations due to upcoming U.S. economic reports, such as unemployment claims and the Producer Price Index (PPI), both of which are crucial for gauging inflation and labor market conditions. For Canada, today’s focus is on oil inventories and the performance of the Canadian economy, heavily tied to global oil prices. Any unexpected movements in oil prices can have a direct impact on the Canadian dollar. As of now, the pair is in a tight range as traders await these key economic releases, with cautious sentiment dominating the market.

Price Action:

In terms of price action, the USD CAD pair has shown an upward trend over the past few sessions but is currently consolidating. It recently retraced from the upper Bollinger Band and has now touched the middle band, which appears to act as support. The last two candles are bullish, indicating potential upward momentum. However, the presence of the Parabolic SAR dots above the price suggests caution, as this can indicate selling pressure. The price is fluctuating between the 38.2% and 23.6% Fibonacci retracement levels, with resistance near the 23.6% level. A break above this level could signal a continuation of the upward trend.

Key Technical Indicators:

Bollinger Bands: The price has moved from the upper band towards the middle band, which is acting as a dynamic support. Currently, the price is showing signs of a potential bounce as the last two candles have turned bullish, indicating that the middle Bollinger Band has provided temporary support.
Parabolic SAR: The last three Parabolic SAR points are positioned above the candles, which signals potential downward pressure. However, since the price is still holding above key support levels, traders should watch for a reversal signal if the dots shift below the price.
MACD: The MACD indicator is currently showing weakening bullish momentum. The histogram is positive but shrinking, indicating that while the uptrend remains, momentum has slowed. A potential bearish crossover could occur if this trend continues, signaling a potential downside move.
%R (Williams %R): The %R is currently around -61, indicating that the market is neither overbought nor oversold. This neutral level suggests there is still room for price action to go either way, depending on market sentiment and upcoming fundamental factors.

Support and Resistance Levels:

Support: Immediate support can be seen near the 38.2% Fibonacci retracement level around 1.3550, followed by more substantial support near the 50% Fibonacci level at 1.3520.
Resistance: The nearest resistance is the 23.6% Fibonacci level at 1.3590. A successful breach of this level could pave the way toward the next resistance at 1.3630, which coincides with the recent swing highs.

Conclusion and Consideration:

The USD-CAD pair is showing mixed signals on the H4 chart. While the price action indicates a possible continuation of the upward trend after bouncing off the middle Bollinger Band, the technical indicators such as the Parabolic SAR and weakening MACD suggest caution. Traders should closely monitor the price’s behavior around the 23.6% Fibonacci level for a potential breakout, while also keeping an eye on upcoming economic releases for both the U.S. and Canada. With upcoming news such as U.S. unemployment claims and Canadian oil inventories, volatility can be expected, which could further influence the pair's direction.

Disclaimer: This analysis is intended for informational purposes only and should not be considered as financial advice. Always conduct your own research before making trading decisions. Market conditions can change rapidly, and it is important to stay informed of the latest developments.

FXGlory
09.12.2024

EUR/USD H4 Technical and Fundamental Analysis for 09.13.2024 (https://fxglory.com/2024/09/13/eur-usd-h4-technical-and-fundamental-analysis-for-09-13-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, the EUR/USD forex pair is influenced by key economic data releases from both the Eurozone and the US. The Consumer Price Index (CPI) data from INSEE and the industrial production data from Eurostat are likely to set the tone for the Euro, reflecting the inflation rate and manufacturing output within the region. On the US side, the Import Price Index and consumer sentiment data from the University of Michigan are critical, as they provide early insights into inflation and consumer confidence. A higher-than-expected CPI or industrial output reading in the Eurozone could boost the Euro, while strong import price data or positive consumer sentiment in the US would likely strengthen the USD, adding pressure on the EURUSD pair.

Price Action:
In the H4 timeframe, the EUR/USD pair shows a clear bullish trend after rebounding from the 1.1010 level. The price moved from the lower half of the Bollinger Bands, crossing the middle band, and now has reached the upper band, indicating strong bullish momentum. The recent five candles show steady upward movement, as the pair broke through the 23.6% and 38.2% Fibonacci retracement levels and is now testing the 50.0% level. If the pair manages to breach this key resistance level, it could move towards the 61.8% or even the 100% Fibonacci retracement level, though a failure to break through 50.0% may signal a potential retracement to the previous support levels.

Key Technical Indicators:
Bollinger Bands: The price has moved from the lower half of the Bollinger Bands and is now touching the upper band, which reflects strong bullish momentum. The widening of the bands suggests increasing volatility in the market.
Parabolic SAR: The last five Parabolic SAR dots are placed below the candles, signaling a continuation of the uptrend. As long as the dots stay below the price action, bullish momentum is expected to persist.
MACD: The MACD line is approaching the signal line from below, suggesting a potential bullish crossover. This would confirm the upward momentum if the crossover occurs, signaling continued buying pressure.
Williams %R: Currently, the %R is around -0.39, indicating the price is in bullish territory but not yet overbought. There is still room for upward movement before hitting extreme levels.

Support and Resistance:
Support Levels: 1.1055 (23.6% Fibonacci), 1.1030, and 1.1010 (recent low).
Resistance Levels: 1.1087 (50.0% Fibonacci), 1.1115 (61.8% Fibonacci), and 1.1150 (100.0% Fibonacci).

Conclusion and Consideration: The EUR USD pair is currently in an uptrend on the H4 chart, with strong bullish signals from both technical indicators and price action. If the pair can break above the 50.0% Fibonacci retracement level, it is likely to continue higher towards the 61.8% level. However, if resistance at the 50.0% level holds, a pullback toward the 38.2% level is possible, where previous support levels may provide a buying opportunity. Traders should keep an eye on today’s fundamental data releases, as they could lead to increased volatility and confirm the direction of the pair.

Disclaimer: The provided EUR-USD analysis is for informational purposes only and should not be considered financial advice. Market conditions can change rapidly, and it is essential to conduct thorough research before making any trading decisions.

FXGlory
09.13.2024

GBPUSD H4 Technical and Fundamental Analysis for 09.16.2024 (https://fxglory.com/2024/09/16/gbpusd-h4-technical-and-fundamental-analysis-for-09-16-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD pair is facing mixed market conditions today as the U.S. dollar is influenced by the release of the New York Manufacturing Index, which serves as a leading indicator of U.S. economic health. A higher-than-forecast reading would likely support the U.S. dollar. Meanwhile, in the UK, the Rightmove House Price Index (HPI) is in focus, which measures the change in asking prices for homes. Although the housing sector is less correlated to actual selling prices, it provides an early look into market conditions. With U.S. economic data expected to drive the dollar and UK housing data potentially offering limited support for the pound, traders can expect GBP/USD volatility today.

Price Action:
In the GBPUSD H4 chart, we observe an upward trend, with the price currently trading between the 50% and 61.8% Fibonacci retracement levels. This signals a continuation of the upward movement after a recent pullback. The GBPUSD price action shows bullish momentum as it attempts to break higher levels, with candles forming higher lows in the last few sessions. The pair appears to be trading within a rising channel, indicating further potential upside if support levels hold.

Key Technical Indicators:
Short SMA (9): The short-term moving average has crossed above the long-term moving average (SMA 17), suggesting bullish momentum in the medium term.
Long SMA (17): The long SMA shows gradual upward movement, reinforcing the continuation of the bullish trend as the price action respects this indicator as a dynamic support.
MACD: The MACD histogram shows growing bullish momentum, with the MACD line crossing above the signal line. This supports the possibility of further upward movement as buying pressure increases.
Volumes: Recent volume data shows increased buying interest, supporting the recent price surge. However, traders should watch for potential exhaustion if volume starts to decline.

Support and Resistance:
Support: The immediate support level is at 1.3070 (38.2% Fibonacci retracement), with a stronger base at 1.3040, aligning with the lower boundary of the channel.
Resistance: Key resistance stands at 1.3160 (61.8% Fibonacci retracement), followed by 1.3240, which marks the 100% Fibonacci extension.

Conclusion and Consideration:
GBP/USD continues to display bullish momentum, supported by technical indicators like the SMA crossover and MACD’s positive trend. With key support levels holding, the pair is likely to continue its upward trajectory. However, U.S. data releases could play a crucial role in determining the dollar’s strength, which might influence this trend. Traders should monitor upcoming news for both GBP and USD to gauge potential market reactions, particularly if the U.S. data exceeds forecasts.

b]Disclaimer:[/b] This GBP-USD analysis is for informational purposes only and does not constitute investment advice. Market conditions can change rapidly, and it’s important for traders to conduct their own research before making any trading decisions. Always consider market volatility and news events before entering any trade.

FXGlory
09.16.2024

NZD/USD H4 Technical and Fundamental Analysis for 09.17.2024 (https://fxglory.com/2024/09/17/nzd-usd-h4-technical-and-fundamental-analysis-for-09-17-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's NZD/USD performance is expected to be influenced by both US and New Zealand economic data. On the US side, several key reports, such as Retail Sales and Factory Output, are scheduled. Strong retail sales data could reinforce expectations of higher US interest rates, boosting the USD. Conversely, weak sales data might support a dovish outlook for the Federal Reserve. The Federal Reserve Bank of Dallas President is also scheduled to speak, and any hawkish remarks might further strengthen the USD. On the New Zealand side, the Global Dairy Trade (GDT) auction report is due, a critical factor since dairy products play a significant role in New Zealand's export economy. Positive data from the GDT auction could lend some support to the NZD.

Price Action:
In the H4 time frame, the NZD USD pair shows signs of a recovery after a previous downtrend. The price action has been bullish in recent sessions, with 7 out of the last 10 candles closing higher. The recent retracement is bouncing off the 38.2% Fibonacci level and approaching the 50.0% level. This indicates that the pair is regaining strength after a short pullback, signaling potential bullish continuation.

Key Technical Indicators:
MA Short (9): The short-term 9-period moving average has crossed above the 17-period long moving average, suggesting that upward momentum is building.
MA Long (17): The 17-period moving average is now acting as dynamic support, confirming that bullish momentum is gaining strength. The crossover is a classic sign of trend reversal, which aligns with the recent bullish price action.
MACD (12,26,9): The MACD line is currently above the signal line, indicating a bullish trend in place. However, the histogram shows slight divergence, suggesting that momentum may slow down in the short term. Traders should monitor closely for any potential bearish crossover, which could signal a trend reversal.
DeMarker (14): The DeMarker indicator currently stands at 0.52, indicating that the market is in a neutral zone with no overbought or oversold conditions. This leaves room for further upward movement before approaching overbought levels, which could support the ongoing bullish trend.

Support and Resistance Levels:
Support: Immediate support is at 0.6155, aligning with the 38.2% Fibonacci level, followed by 0.6100 as a key psychological level.
Resistance: The first resistance is at 0.6200 near the 50.0% Fibonacci level, with the next level at 0.6230 at the 61.8% Fibonacci retracement.

Conclusion and Consideration:
The NZD/USD pair is exhibiting bullish momentum on the H4 chart, supported by positive price action and a moving average crossover. However, key fundamental events for both the USD and NZD are scheduled for today, which could introduce volatility. A breakout above the 50.0% Fibonacci level could trigger a continuation of the uptrend, while bearish data from the US might cap gains or lead to a reversal. It is crucial to monitor the upcoming Retail Sales data and GDT auction results, as these will provide further direction for the pair.

Disclaimer: The NZDUSD analysis provided is for informational purposes only and does not constitute investment advice. Market conditions can change rapidly, and traders should conduct their own research and stay updated with the latest developments before making trading decisions.

FXGlory
09.17.2024

AUDUSD H4 Technical and Fundamental Analysis for 09.18.2024 (https://fxglory.com/2024/09/18/audusd-h4-technical-and-fundamental-analysis-for-09-18-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

Upcoming economic data releases from the US and Australia are significant for understanding potential movements in the AUD/USD pair. From the US, the focus is on the Federal Funds Rate, which is expected to increase from 5.25% to 5.50%. Such a hike could strengthen the USD as higher interest rates usually attract foreign capital. Additionally, the FOMC Economic Projections and Statement will provide deeper insights into future monetary policy, which could sway market sentiment significantly. The TIC Long-Term Purchases, indicating foreign investments, jumped from 54.9B to an expected 96.1B, reflecting a robust interest in US financial assets.
From Australia, the Employment Change is set to show a sharp rise from 26.4K to 58.2K, suggesting strong job market conditions, which could bolster the AUD. The Unemployment Rate is projected to hold steady at 4.2%, supporting a stable economic outlook in Australia.

Price Action:

The AUD/USD price shows a consolidation above the Ichimoku cloud on the H4 chart, indicating a bullish sentiment in the near term. The RSI is above 50 but not yet in the overbought territory, suggesting there is room for upward movement without immediate reversal risks. The Stochastic indicator hints at the end of a bearish phase, potentially signaling an upcoming bullish crossover.

Key Technical Indicators:

RSI: hovering above 50,ing towards potential upward movements.
Stochastic: Indicating the exhaustion of bearish momentum with a possible bullish turn ahead.
Ichimoku Cloud: The price residing above the cloud supports bullish dominance, suggesting potential further upsides.

Support and Resistance:
Support Levels: The nearest support level is found just above the lower boundary of the Ichimoku cloud at 0.6600. A drop below this level could lead to further bearish corrections towards 0.6550.
Resistance Levels: Immediate resistance is observed at the downward trend line from the recent correction phase. A decisive breakout above 0.6750 could reaffirm the bullish trend, aiming for the next resistance at 0.6800.

Conclusion and Consideration:
The AUD/USD H4 chart points to a bullish continuation as long as the price remains above the Ichimoku cloud. The anticipated breakout above the current descending trend line could usher in renewed bullish momentum. Traders should closely monitor the forthcoming economic data from both the US and Australia, as these will likely drive short-term price action and confirm or adjust the current bullish outlook.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
09.18.2024

GBPAUD H4 Technical and Fundamental Analysis for 09.19.2024 (https://fxglory.com/2024/09/19/gbpaud-h4-technical-and-fundamental-analysis-for-19-09-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBPAUD pair represents the British Pound (GBP) against the Australian Dollar (AUD), both of which are influenced by central bank policies and global economic conditions. Today, the GBP faces significant news with the release of the Bank of England's Monetary Policy Summary and voting breakdown, which could provide insight into the central bank's stance on interest rates. Hawkish sentiments from the Bank of England could strengthen the GBP, leading to potential bullish momentum. On the AUD side, employment data and the unemployment rate are key market-moving events for today. Better-than-expected Australian employment figures could bolster the AUD, adding downward pressure on the pair. Both currencies are subject to central bank guidance and economic data, making today critical for GBP AUD price movements.

Price Action:
On the H4 timeframe, the GBP/AUD pair is currently showing bearish tendencies, as seen from the last two candles that have declined. The price is trading between the 38.2% and 50.0% Fibonacci retracement levels, indicating potential support near the 50.0% level. The GBPAUD Price action shows movement toward the lower half of the Bollinger Bands after briefly touching the middle band. This suggests a potential downward continuation. If the price breaks below the 50.0% Fibonacci level, we could see further bearish momentum.

Key Technical Indicators:
Bollinger Bands: The price has been moving from the lower band toward the middle band but is currently heading back toward the lower band. This indicates a bearish move, with volatility expected to increase as the price approaches the lower Bollinger Band. If the price remains in the lower half of the bands, it may continue on a downward path.
MACD (Moving Average Convergence Divergence): The MACD histogram is showing decreasing momentum, with the MACD line slightly below the signal line. This suggests bearish momentum is building, and traders should watch for a potential continuation of the downward trend if the MACD crosses further below the signal line.
DeMarker (DeM) (14): The DeMarker indicator currently sits at 0.260, which is below the neutral zone, indicating that the pair is nearing oversold conditions. While this suggests that the selling pressure could slow down, it also signals that there may be room for further bearish movement before a possible reversal.

Support and Resistance Levels:
Support: Immediate support is found at the 50.0% Fibonacci retracement level at approximately 1.9502. Further support can be seen near the 61.8% Fibonacci level at 1.9440.
Resistance: Immediate resistance is near the 38.2% Fibonacci level at 1.9562. Stronger resistance lies at 1.9600, aligning with the upper Bollinger Band.

Conclusion and Consideration:
In conclusion, the GBP AUD pair on the H4 chart shows signs of bearish momentum with the price moving toward the lower half of the Bollinger Bands and declining MACD momentum. The DeM indicator nearing oversold territory signals potential for a short-term reversal, but the overall bearish outlook remains dominant. Traders should watch key support and resistance levels, particularly around the 50.0% and 38.2% Fibonacci levels, for signs of a breakout or reversal. With important economic data releases from both the UK and Australia, heightened volatility is expected, making it crucial for traders to monitor these indicators closely.

Disclaimer: The GBPAUD H4 provided analysis is for informational purposes only and does not constitute financial advice. Traders should perform their own analysis and consider market conditions before making any trading decisions. Markets can change rapidly, and staying updated with the latest news is essential for successful trading.

FXGlory
09.19.2024

USDCAD H4 Technical and Fundamental Analysis for 09.20.2024 (https://fxglory.com/wp-content/uploads/2024/09/USDCAD-H4-Technical-and-Fundamental-Analysis-for-09.20.2024-1024x524.webp)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD forex pair is influenced today by key fundamental events from both the U.S. and Canada. In the U.S., the market anticipates remarks from Federal Reserve Bank of Philadelphia President Patrick Harker at Tulane University. Traders will be watching for any hawkish signals regarding future monetary policy, which could strengthen the USD. On the Canadian side, Bank of Canada Governor Tiff Macklem is scheduled to speak at the National Bureau of Economic Research conference in Toronto. His commentary could provide insights into future interest rate policies, impacting the CAD. Additionally, the release of retail sales data and industrial product prices from Canada could drive market volatility depending on how the actual figures align with market forecasts.

Price Action:
In the H4 timeframe, USDCAD has been trading in a range between 1.3500 and 1.3650 over the past few sessions, indicating consolidation after a bullish recovery. The price attempted to break out above 1.3650 but failed, pulling back toward the 23.6% Fibonacci retracement level. The recent candles suggest indecision as the price hovers near the 1.3565 level. This area has acted as a key pivot zone over the past few sessions, reflecting the current battle between bulls and bears.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands on the USD/CAD H4 chart have widened, signaling increased volatility. The price has moved toward the lower band after touching the upper band near 1.3650, indicating a potential downward pressure. However, the price remains within the bands, suggesting the market is not yet oversold. Traders should watch for a breakout of the bands to signal the next directional move.
MACD (Moving Average Convergence Divergence): The MACD indicator shows a weakening bullish momentum, with the MACD line crossing below the signal line and the histogram in negative territory. This bearish crossover signals a possible continuation of the downside momentum unless the MACD can reverse and move back above the signal line. However, the low distance between the lines suggests the trend could reverse if fundamentals support USD strength.
DeMarker (DeM 14): The DeMarker (DeM) indicator sits at 0.429, indicating potential oversold conditions. This suggests that there might be some buying interest soon if the indicator starts to rise. However, for now, the DeM signals that the downside pressure could continue in the near term unless a reversal occurs.

Support and Resistance:
Support: Immediate support for USDCAD is at 1.3565, aligned with the 23.6% Fibonacci retracement level and the recent price pivot. If the pair breaks below this, the next key support is at 1.3500, a psychological level that has historically acted as a strong barrier.
Resistance: Immediate resistance is found at 1.3640, which coincides with the 38.2% Fibonacci retracement level and marks the upper boundary of recent price action. A breakout above this level could push the pair toward 1.3695, the 50% retracement level, where further resistance may be encountered.

Conclusion and Consideration:
The USD-CAD pair is currently in a consolidation phase after failing to break above the 1.3640 resistance level. With technical indicators pointing toward slight bearish momentum and upcoming key fundamental events, the pair could face heightened volatility. Traders should closely monitor the speeches from the Federal Reserve and Bank of Canada governors, as these could provide clues on future interest rate decisions and drive price action. A break above 1.3640 would confirm a bullish breakout, while a move below 1.3560 could see the pair targeting 1.3500.

Disclaimer: The USD CAD analysis provided is for informational purposes only and does not constitute investment advice. Trading in the foreign exchange market involves significant risk, and it is essential for traders to conduct their research and stay updated with market conditions before making any trading decisions.

FXGlory
09.20.2024

GBPUSD H4 Technical and Fundamental Analysis for 09.23.2024 (https://fxglory.com/2024/09/23/gbpusd-h4-technical-and-fundamental-analysis-for-09-23-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD news analysis today shows that it continues to experience volatility amid global economic uncertainties. Recent PMI data releases from the UK show manufacturing sector contraction, as indicated by S&P Global’s latest surveys, with figures below 50, signaling economic slowdown. This data puts pressure on the British Pound, particularly as concerns about the UK's economic resilience persist. Meanwhile, for the USD, market participants are keenly focused on the speeches from Federal Reserve officials, including Raphael Bostic and Austan Goolsbee, who are expected to provide insights into future monetary policy and interest rate adjustments. With key economic indicators such as inflation and PMI set to influence the pair’s forecast today, traders are advised to monitor the upcoming GBP/USD fundamental releases closely for any signs of economic recovery or further contraction in both the UK and the US.

Price Action:
The GBP USD H4 chart reveals a clear upward channel for the pair also known as the “Cable,” with its price action making higher highs and higher lows. The pair is currently approaching key resistance levels near 1.3290 and 1.3326, following a steady uptrend since early September. The pair’s candlesticks reflect strong buying interest, as its bullish market sentiment drives the price upward. However, it is crucial to watch for potential reversals if the price fails to break through the established resistance.

Key Technical Indicators:
Ichimoku Cloud: The price is trading above the Ichimoku cloud, indicating a strong bullish trend. The cloud is thin, suggesting limited resistance ahead, but traders should remain cautious if the price dips towards the cloud for potential reversals.
RSI (Relative Strength Index): The RSI is hovering around 67.67, indicating that the pair is nearing overbought territory. This suggests the possibility of a pullback or consolidation before any further upward moves.
Stochastic Oscillator: The Stochastic is also in the overbought region at 75.25, reinforcing the likelihood of a short-term correction as the market approaches resistance levels.

Support and Resistance:
Support Levels: Immediate support can be found at 1.3261, which aligns with the lower boundary of the upward channel. A break below this level could lead to further downside, with the next support around 1.3180.
Resistance Levels: The pair faces key resistance at 1.3290, followed by a stronger resistance level at 1.3326. A breakout above these levels could propel the pair towards higher highs in the coming sessions.

Conclusion and Consideration:
he GBP/USD technical outlook today is exhibiting strong bullish momentum on the pair’s H4 chart, supported by favorable technical indicators. However, the RSI and Stochastic suggest the pair is nearing overbought conditions, which could result in a brief correction or consolidation around key resistance levels. The GBPUSD fundamental factors, such as the upcoming PMI data for both the UK and US, along with Federal Reserve speeches, will play a critical role in determining the pair's next direction. Traders are advised to exercise caution, especially with the Cable’s volatility surrounding key economic releases. Implementing solid risk management strategies, such as setting stop-loss orders near support levels, will help mitigate risk in this volatile trading environment.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
09.23.2024

AUDUSD H4 Technical and Fundamental Analysis for 09.24.2024 (https://fxglory.com/2024/09/24/audusd-h4-technical-and-fundamental-analysis-for-09-24-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUD/USD pair is currently influenced by critical economic events. Earlier today, the Reserve Bank of Australia (RBA) maintained its cash rate at 4.35%, which was anticipated by the market, accompanied by the RBA Rate Statement and subsequent Press Conference. These factors are crucial in shaping the Australian dollar's direction against United States’ Dollar. The RBA’s stance was seen as relatively neutral, keeping future rate hikes uncertain. Meanwhile, on the USD side, significant events like the upcoming FOMC member Bowman’s speech and data releases, such as the S&P/CS Composite-20 HPI y/y (5.9%, below the expected 6.5%) and the CB Consumer Confidence report, are likely to weigh on the US dollar’s performance. With the U.S. data releases showing mixed results, traders are closely monitoring the market for any clues on future Fed policy moves.

Price Action:
The AUD/USD H4 chart today shows a correction following a bullish rally. The price has now moved lower, testing a key support zone, indicating a consolidation phase. The Bollinger Bands show a sharp decline in volatility, with the price touching the lower band, suggesting the potential for a short-term bounce. However, the pair remains under pressure as both fundamental and technical factors point to a cautious sentiment. If AUD/USD breaks below current support, further downside may be expected, while holding above could see the pair attempt a recovery.

Key Technical Indicators:
Bollinger Bands: The price is currently hugging the lower Bollinger Band, indicating a possible oversold condition in the short term. A contraction in the bands suggests lower volatility, signaling that a breakout might be imminent.
MACD (Moving Average Convergence Divergence): The MACD is in bearish territory, with the MACD line below the signal line. The histogram is also below zero, supporting the bearish outlook. This indicates a potential for further downside if momentum doesn't shift soon.
DeM (DeMarker Indicator): The DeMarker indicator is currently reading at 0.334, signaling that the pair may be in an oversold condition, which could indicate a short-term bullish reversal if buyers step in at current levels.

Support and Resistance:
Support Levels: The immediate support is at 1.35000, aligning with a key psychological level. A stronger support level is noted at 1.34610, which coincides with a previous low from earlier sessions.
Resistance Levels: The nearest resistance is at 1.35700, which aligns with the middle of the Bollinger Bands and prior consolidation. The next significant resistance is around 1.36050, which marks the upper boundary of the recent price action.

Conclusion and Consideration:
The AUD/USD technical analysis suggests a cautious outlook as the pair consolidates within the lower Bollinger Band range, signaling potential short-term downside pressure. However, oversold conditions on both the DeM and Bollinger Bands suggest a possible rebound if key support holds. Traders should monitor the MACD for confirmation of continued bearish momentum or potential reversal on AUDUSD price chart. Additionally, economic events like the RBA Press Conference and upcoming U.S. data releases could add volatility to the pair. In this uncertain market environment, prudent risk management is advised, with close attention paid to the 1.35000 support and 1.35700 resistance levels for any breakout signals.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
09.24.2024

EURUSD H4 Technical and Fundamental Analysis for 09.26.2024 (https://fxglory.com/2024/09/26/eurusd-h4-technical-and-fundamental-analysis-for-09-26-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD fundamental outlook today is influenced by both the Eurozone's economic factors and the strength of the US dollar. Recently, several key developments in both economies have affected this pair that’s also known as the “Fiber”. The US dollar has seen strength due to hawkish comments from Federal Reserve officials like Governor Adriana Kugler, signaling potential rate hikes. Additionally, economic data from the US, including durable goods orders and jobless claims, have contributed to dollar strength. On the Euro side, consumer sentiment measured by the GfK survey, and remarks from ECB President Christine Lagarde have highlighted inflationary pressures, which could push the European Central Bank towards a hawkish stance. With both central banks hinting at potential tightening, the EUR/USD forex pair remains at the mercy of its fundamental economic releases and policy updates in the coming days.

Price Action:
The EUR/USD price action on the pair’s H4 chart reveals a notable bullish trend, with price action testing resistance levels around 1.1184 to 1.1187. After a breakout attempt, the price faced rejection at the top of the rising channel. The pair seems to be consolidating around key support zones, reflecting market indecision as traders await further developments from central banks. The recent price decline suggests that bears have temporarily regained control, but with the price hovering near the lower boundary of the rising channel, further upward movement is possible if key support holds.

Key Technical Indicators:
Ichimoku Cloud: The price is trading within the cloud, signaling a potential period of consolidation. The lagging span also suggests mixed momentum, with no clear direction yet, as traders await additional catalysts.
RSI (Relative Strength Index): The RSI is at 45.64, indicating neutral momentum. It's neither in the oversold nor overbought territory, suggesting that the market may be gearing up for its next significant move depending on economic news or technical breakout opportunities.
MACD: The MACD histogram remains slightly positive, with a minor bullish bias as the MACD line hovers near the signal line. However, momentum appears weak, and a more significant move would be required to confirm directionality.

Support and Resistance:
Support Levels: The immediate support level is 1.1129, which is aligned with the rising trendline. A breach below this level could push the pair towards the 1.1116 zone, which marks the lower boundary of the channel.
Resistance Levels: The pair faces strong resistance at 1.1184 and 1.1187, the latter being a key psychological level. A break above this resistance could set the stage for a bullish continuation towards 1.1230.

Conclusion and Consideration:
The EURUSD technical analysis on its H4 chart is showing signs of consolidation as it trades near key support levels. With both the Ichimoku cloud and MACD offering mixed signals, traders should wait for a breakout either above resistance at 1.1187 or a breakdown below 1.1129 to determine the next significant directional move. Upcoming speeches by Federal Reserve and ECB officials, as well as economic data, will be crucial for traders looking to capitalize on the Fiber’s volatility. Setting appropriate risk management tools, such as stop-losses near key support/resistance zones, will be essential to navigate the EUR-USD market fluctuations.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
09.26.2024

USDCAD H4 Daily Technical and Fundamental Analysis for 09.27.2024 (https://fxglory.com/2024/09/27/usdcad-h4-daily-technical-and-fundamental-analysis-for-09-27-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDCAD pair reflects the exchange rate between the US Dollar (USD) and the Canadian Dollar (CAD). Today’s key events impacting this pair include the upcoming speech from Federal Reserve Governor Lisa Cook, which could hint at future monetary policy, especially regarding interest rates and the impact of artificial intelligence on the labor force. In addition, traders are waiting for important US inflation data and the Bureau of Economic Analysis’ upcoming reports on trade and income. On the Canadian side, attention will be on GDP figures, which offer insights into the country's economic performance. These events could drive significant volatility for USDCAD in the coming sessions.

Price Action:
On the H4 chart, USDCAD is showing signs of a potential reversal after a strong bearish move. The price is currently in an upward channel following a drop, indicating a recovery phase. The pair recently found support around 1.3430 and has started to retrace upwards, moving closer to the 1.3470 resistance level. There are multiple signs suggesting a possible breakout if the bullish momentum continues, but traders should be cautious as the pair remains below the Ichimoku cloud, signaling potential further consolidation before a stronger move.

Key Technical Indicators:
Ichimoku Cloud: The price is trading below the Ichimoku cloud, signaling a bearish long-term sentiment. However, the upward trend from recent lows indicates potential bullish recovery, though it remains weak until the price breaks above the cloud.
MACD (Moving Average Convergence Divergence): The MACD line is slightly below the signal line, and the histogram shows weak bearish momentum. Although there is some upward movement, a clearer bullish signal would emerge only if the MACD line crosses above the signal line, indicating stronger buying pressure.
DeMarker (DeM 14): The DeMarker indicator stands at 0.587, suggesting that the market is approaching an overbought condition. While not fully signaling exhaustion, traders should watch for any overbought conditions that might lead to a temporary pullback.
Williams %R (14): The Williams %R is at -14.71, nearing overbought territory. This suggests that the current upward momentum may face resistance soon, and a retracement could be imminent if the pair fails to break above key resistance levels.

Support and Resistance Levels:
Support: The nearest support is at 1.3430, a level where the price recently found a bounce.
Resistance: The immediate resistance is at 1.3480, aligned with the 23.6% Fibonacci level. The next key resistance is at 1.3525, corresponding to the 38.2% Fibonacci level.

Conclusion and Consideration:
The USDCAD H4 chart is showing signs of a possible bullish recovery following a recent drop. However, the pair remains below the Ichimoku cloud, suggesting the longer-term trend is still bearish until confirmed otherwise. The MACD and Williams %R indicators show cautious optimism, but traders should be wary of overbought conditions, especially as the price nears key Fibonacci resistance levels. With upcoming fundamental news from both the US and Canada, volatility is expected. As always, traders should stay informed of breaking news and economic data to avoid unexpected market movements.

Disclaimer: The analysis provided here is for educational purposes and should not be considered as financial advice. Market conditions may change rapidly, and traders should conduct their own research before making any trading decisions.

FXGlory
09.27.2024

EURGBP H4 Technical and Fundamental Analysis for 09.30.2024 (https://fxglory.com/2024/09/30/eurgbp-h4-technical-and-fundamental-analysis-for-09-30-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/GBP news analysis today is influenced by various fundamental factors, including economic indicators, interest rates, and geopolitical events impacting both the Eurozone and the UK. As the European Central Bank (ECB) and the Bank of England (BoE) manage their monetary policies, traders closely monitor releases such as the Consumer Price Index (CPI) and Gross Domestic Product (GDP) data from both regions. Recent releases indicate inflationary pressures in the Eurozone, which could prompt the ECB to adopt a more hawkish stance. Conversely, economic growth and inflation data from the UK may provide insights into the BoE's potential interest rate decisions, further impacting the EURGBP forecast today. Overall, these dynamics complicate the pair’s market environment, where traders need to stay alert to macroeconomic changes and their implications for the currency’s valuation.

Price Action:
The EUR/GBP H4 chart shows the price is currently trending below the Ichimoku Cloud, indicating the pair’s bearish sentiment. Its price action has shown a consolidation phase following a previous downtrend, suggesting a possible accumulation of positions before a potential breakout. The market is currently oscillating near key support and resistance levels, with the pair’s price movement reflecting indecision among traders.

Key Technical Indicators:
Ichimoku Cloud: The price trading below the Ichimoku Cloud highlights the pair’s bearish market structure. A breakout above the cloud would be necessary for a trend reversal, while a sustained movement below it suggests ongoing selling pressure.
RSI (Relative Strength Index): The RSI is positioned at 48.43, indicating that the EURGBP sentiment is neutral with no clear overbought or oversold conditions. This level suggests that there is potential for either a bullish reversal or a continuation of the bearish trend, depending on future price action.
Stochastic Oscillator: The Stochastic Oscillator shows values of 72.15 and 66.96, indicating a potential overbought condition. This could suggest that the price may face resistance at current levels, leading to a correction or pullback if sellers begin to dominate the market.

Support and Resistance:
Support Levels: The nearest support is at 0.83311, with further support located at 0.83205. These levels are critical as they may attract buying interest if the price tests them.
Resistance Levels: The nearest resistance level is at 0.83460. A breakout above this level could signify a shift in momentum, potentially paving the way for higher prices.

Conclusion and Consideration:
The EUR/GBP forecast today on its H4 chart is currently exhibiting signs of consolidation after a bearish phase, supported by the positioning of key technical indicators. With the price below the Ichimoku Cloud, traders should be cautious about potential short positions, particularly near key resistance levels. However, the RSI and Stochastic Oscillator suggest a watchful approach, as they indicate neutral to slightly overbought conditions. Upcoming economic releases and ECB/BoE communications will be crucial in determining the pair’s future price movements. Risk management strategies, including stop losses, should be implemented to navigate the volatility inherent in this currency pair.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
09.30.2024

EURCAD H4 Technical and Fundamental Analysis for 10.01.2024 (https://fxglory.com/2024/10/01/eurcad-h4-technical-and-fundamental-analysis-for-10-01-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/CAD pair is currently influenced by various economic developments. The Canadian Dollar's movement is heavily tied to oil prices, and recent volatility in the oil market has caused fluctuations in the CAD. The Bank of Canada’s (BoC) decision to hold interest rates has also kept the CAD under pressure. Meanwhile, Eurozone data continues to show mixed results, with weaker industrial production in Germany. However, inflationary pressures persist in the Eurozone, adding complexity to the European Central Bank's (ECB) future policy moves. Both these factors are shaping the EUR/CAD's performance this week, with upcoming economic data releases and oil price movements playing a critical role.

Price Action:
The EUR/CAD H4 chart indicates that the pair is trading in a consolidation phase after a recent bullish push. The price action shows a pullback from the 1.5170 resistance level and is currently hovering around the 1.5060 level. The pair is testing the lower boundary of a consolidation range, with key support at 1.4900. Bollinger Bands show decreased volatility, suggesting the potential for a breakout in the near term. Traders should watch for a decisive break either above the resistance at 1.5170 or below the 1.4900 support to determine the next move.

Key Technical Indicators:
William %R: The Williams %R on the EUR/CAD chart is near -56, indicating a neutral state with no strong overbought or oversold signals. A further drop below -80 could indicate oversold conditions, signaling potential buying opportunities.
MACD (Moving Average Convergence Divergence): The MACD is in bearish territory, with the MACD line below the signal line. The histogram is also below zero, supporting the bearish outlook. This indicates a potential for further downside if momentum doesn't shift soon.
DeM (DeMarker Indicator): The DeMarker indicator is near 0.45, indicating that the pair is not in an oversold condition but may face continued selling pressure if it breaches key support levels.

Support and Resistance:
Support Levels: The immediate support is found at 1.4900, a psychological level that has acted as a strong base in previous sessions. Below this, 1.4850 could provide further support.
Resistance Levels: The nearest resistance is at 1.5170, a critical level that the pair has struggled to break. If EUR/CAD manages to close above this level, it could test the next resistance at 1.5270, marking the upper boundary of recent price action.

Conclusion and Consideration:
The EUR/CAD analysis suggests a cautious approach as the pair continues to consolidate near key support. Fundamental factors such as Canadian oil price movements and Eurozone inflation will play a significant role in shaping the direction of the pair. While technical indicators like the MACD and Bollinger Bands suggest the possibility of a breakout, traders should wait for confirmation before entering new positions. Prudent risk management is advised, with close attention to the 1.4900 support and 1.5170 resistance levels for potential breakout signals.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.01.2024

EURUSD H4 Technical and Fundamental Analysis for 10.02.2024 (https://fxglory.com/2024/10/02/eurusd-h4-technical-and-fundamental-analysis-for-10-02-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD forex pair, also known as “Fiber,” reflects the relative strength of the Eurozone and US economies. Currently, the market is focused on macroeconomic data such as employment figures, inflation rates, and central bank policies. Upcoming releases, such as France’s government budget balance and unemployment data across key European economies, are critical for Euro traders. On the US side, employment data (ADP) and Federal Reserve speeches will significantly impact the US Dollar’s performance. Any stronger-than-expected ADP job growth or hawkish Fed commentary could strengthen the USD, putting further pressure on the EUR/USD forecast today.

Price Action:
The EUR/USD H4 chart has been in a downtrend within a descending channel. The pair’s price action has been unable to breach the 1.1153 resistance level and is now testing support around 1.1068. The continuation of lower highs and lower lows within the channel indicates the Fiber’s strong bearish momentum, with no immediate signs of reversal. The price is hovering near the lower boundary of the channel, suggesting potential further downside movement if the support level breaks.

Key Technical Indicators:

RSI (Relative Strength Index):
The RSI is currently at 36.73, indicating the pair is approaching oversold conditions. While this suggests bearish momentum, it also implies that a relief rally could be on the horizon, especially if the RSI dips below 30.
MACD (Moving Average Convergence Divergence):
The MACD histogram is negative, with the MACD line below the signal line, reinforcing the pair’s bearish outlook. The increasing distance between the two lines suggests that bearish momentum is still strong, with no immediate signs of reversal.

Support and Resistance:

Support Levels:
Immediate support is seen at 1.1068, followed by stronger support at 1.1005, which could act as a critical level if the bearish trend continues.
Resistance Levels:
The nearest resistance stands at 1.1153, with the next significant resistance level around 1.1200 if the price manages to reverse the current downtrend.

Conclusion and Consideration:
The EUR/USD technical analysis today is displaying its strong bearish signals on the H4 timeframe, with both MACD and RSI indicators supporting the downward momentum. However, with the RSI nearing oversold conditions, a short-term pullback could be expected, but the overall EURUSD outlook remains bearish unless key resistance levels are breached. Traders should watch upcoming US employment data and Federal Reserve speeches for further direction. Risk management is crucial, especially given the volatile nature of the pair.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.02.2024

NZDUSD H4 Technical and Fundamental Analysis for 10.03.2024 (https://fxglory.com/2024/10/03/nzdusd-h4-technical-and-fundamental-analysis-for-10-03-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The NZD/USD forex pair, also known as “Kiwi,” is often influenced by commodity prices and global risk sentiment, and continues to be impacted by macroeconomic data from both New Zealand and the U.S. Today, traders are watching upcoming U.S. reports, including jobless claims and the job cut announcements, which will provide insight into the U.S. labor market's health. Stronger-than-expected data could bolster the U.S. dollar, as it reflects an improving economy and increases the likelihood of further tightening by the Federal Reserve. On the New Zealand side, global commodity prices, particularly those of agricultural goods and dairy products, remain a key driver for the NZD. With the latest ANZ Commodity Price Index on the horizon, any significant changes in global prices could have a direct impact on the Kiwi’s forecast today.

Price Action:

The NZD/USD H4 chart shows a clear downtrend, with the pair moving within a descending channel. The pair’s price has been consistently forming lower highs and lower lows, reflecting persistent bearish sentiment. The pair recently broke below a key support level of 0.6296, which has now turned into resistance. Current NZDUSD price action suggests that bearish momentum may continue unless a clear reversal signal appears.

Key Technical Indicators:

RSI (Relative Strength Index):
The RSI is currently at 35.99, which indicates that the pair is approaching oversold conditions. However, there is still room for further downside before the RSI reaches extreme levels, suggesting that the pair’s bearish momentum could persist in the short term.
Stochastic Oscillator: The Stochastic oscillator is at 16.69, deep in the oversold zone. This suggests that while the pair remains under selling pressure, a potential bullish reversal could be on the horizon if buyers step in at these levels.
MACD (Moving Average Convergence Divergence):
The MACD is in negative territory, with the histogram showing increased downward pressure. The MACD line is below the signal line, indicating a continuation of the bearish trend.

Support and Resistance:

Support Levels:
The nearest support level is at 0.6230, which aligns with the lower boundary of the descending channel. If this level breaks, further downside toward 0.6175 could be expected.
Resistance Levels:
The immediate resistance is now at 0.6296. A break above this level would indicate a shift in sentiment and could signal the start of a bullish correction.

Conclusion and Consideration:
The NZD/USD technical analysis today shows the pair remains in a strong downtrend on the H4 timeframe, with key technical indicators pointing to its continued bearish pressure. The RSI and Stochastic oscillator both suggest the pair is nearing oversold conditions, hinting at a possible short-term reversal. However, as long as the price remains below the resistance level of 0.6296, the bearish momentum is likely to continue. Traders should watch for upcoming U.S. data releases, as stronger-than-expected numbers could further strengthen the U.S. dollar, putting additional pressure on the Kiwi. Risk management is crucial in this volatile environment, and traders should consider setting stop losses near key support and resistance levels.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.03.2024

BTC/USD H4 Technical and Fundamental Analysis for 10.04.2024 (https://fxglory.com/2024/10/04/btc-usd-h4-technical-and-fundamental-analysis-for-10-04-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The BTCUSD forex pair reflects the exchange rate between Bitcoin (BTC) and the US Dollar (USD), a crucial instrument for cryptocurrency traders. Today’s market is poised for volatility due to significant economic releases in the US, including Non-Farm Payrolls (NFP) and the Unemployment Rate. These reports are essential indicators of economic strength, and a higher-than-expected NFP figure or lower unemployment rate may support the USD, leading to downward pressure on BTC/USD. Additionally, remarks from Federal Reserve Bank of New York President John Williams are anticipated, with any hawkish tone likely strengthening the USD. As labor inflation data is released, it could also contribute to volatility in the cryptocurrency market, as USD strength generally puts downward pressure on Bitcoin prices.

Price Action:
Looking at the BTC USD H4 chart, the price has been in a consistent downtrend after failing to maintain its bullish momentum from earlier weeks. The pair is currently trading below the Ichimoku cloud, a clear indication of bearish dominance. A descending trendline is capping any attempts for recovery, further confirming the bearish outlook. Price has been consolidating just above the 50% Fibonacci retracement level at $60,050, indicating a potential battle between buyers and sellers. If the price remains below this key support, the bears may push it lower, toward the 61.8% Fibonacci level at $58,483.

Key Technical Indicators:
Ichimoku Cloud: The price is currently below the Ichimoku cloud, which indicates bearish market conditions. The cloud itself is red and growing, suggesting that bearish momentum is likely to continue in the short term. The lagging span and future cloud are both below price action, adding to the negative outlook.
MACD (Moving Average Convergence Divergence): The MACD indicator shows bearish momentum, with the MACD line well below the signal line. The histogram is negative, and while it is contracting slightly, there’s no indication of a bullish crossover soon. This reinforces the bearish trend and suggests continued downward pressure.
%R Indicator (Williams %R): The %R is currently around the -70 mark, indicating that the market is in bearish territory but not yet oversold. This suggests that there is still room for the price to decline further before a potential reversal or consolidation.

Support and Resistance:
Support Levels: Immediate support is located at the 50% Fibonacci retracement level at $60,050. If this level breaks, the next significant support lies at the 61.8% Fibonacci level at $58,483. A failure to hold this could see the pair dropping towards $56,000.
Resistance Levels: On the upside, resistance is found at the descending trendline around $61,800. Above this, the next major resistance is at the 38.2% Fibonacci retracement level at $61,897, coinciding with the lower boundary of the Ichimoku cloud.

Conclusion and Consideration: The BTC/USD H4 chart indicates a bearish bias in the market, with price trading below key technical levels, including the Ichimoku cloud and major Fibonacci retracement points. Bearish momentum appears strong, as confirmed by the MACD and %R indicators. However, any upside surprise in today’s US economic releases, particularly the NFP or unemployment figures, could add further downside pressure on Bitcoin. Traders should remain cautious as the market could see heightened volatility due to these upcoming fundamental drivers. The key support at $60,050 will be critical to watch, as a break below could signal deeper corrections toward $58,483.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.04.2024

AUDUSD H4 Technical and Fundamental Analysis for 10.07.2024 (https://fxglory.com/2024/10/07/audusd-h4-technical-and-fundamental-analysis-for-10-07-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The AUD/USD forex trading pair, also known as the “Aussie”, continues to experience significant movements, as the pair’s fundamental forecast is influenced by various factors impacting both the Australian and US economies. Recently, US Federal Reserve officials, including Michelle Bowman and Neel Kashkari, have provided hawkish views regarding the US economy and future interest rate hikes. These statements are strengthening the USD, putting downward pressure on the Australian dollar. Moreover, a US Consumer Credit report is anticipated, which may further support the USD if consumer debt levels exceed expectations. In Australia, markets are adjusting to the observance of Labor Day in some states, contributing to lower liquidity and increased volatility. On the economic front, Melbourne Institute data on consumer price inflation is also relevant, as it could signal future adjustments in Australian monetary policy, especially given the RBA’s focus on inflation control.

Price Action:

the AUD/USD H4 candle chart, shows the pair is trending downward within a well-defined bearish channel, having failed to break the upper resistance around 0.6840. The pair is currently trading near 0.6794, approaching a significant support level of 0.6770. The Aussi’s price action shows a clear pattern of lower highs and lower lows, confirming its bearish market sentiment. Buyers are attempting to regain control, but the prevailing market momentum suggests that the downtrend is still dominant.

Key Technical Indicators:

Bollinger Bands:
The price is currently close to the lower Bollinger Band, which may act as a short-term dynamic support. The bands are widening, indicating increasing volatility in the market. A breakdown below the lower band could signify continued AUDUSD bearish pressure, while a bounce might suggest a temporary reversal or consolidation.
MACD (Moving Average Convergence Divergence):
The MACD line has crossed below the signal line, with the histogram showing a growing negative divergence. This suggests that the bearish momentum is still intact, and further downside is likely unless there is a strong reversal in the coming sessions.

Support and Resistance:

Support Levels:
The immediate support is at 0.6770, which aligns with recent price action and the lower Bollinger Band. If this level breaks, the next major support could be found around 0.6700, a key psychological level.
Resistance Levels:
The closest resistance is at 0.6840, near the middle Bollinger Band. A successful breach above this level would suggest a potential recovery, but strong resistance is expected at the 0.6885 level.

Conclusion and Consideration:
The AUD/USD technical analysis today shows the ongoing bearish trend, supported by strong downward momentum in both the pair’s price action and its technical indicators. The widening Bollinger Bands and bearish MACD signal suggest that the pair may face further downward pressure, especially if the 0.6770 support level is breached. However, traders should be cautious of any potential rebounds from the lower Bollinger Band or support levels, which may trigger short-term corrections. The upcoming US economic data and Australian inflation reports could further influence the AUDUSD market direction. Given the current market conditions, employing risk management strategies, such as stop-loss orders, is crucial in navigating this volatile environment.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.07.2024

EUR/USD H4 Technical and Fundamental Analysis for 10.08.2024 (https://fxglory.com/2024/10/08/eur-usd-h4-technical-and-fundamental-analysis-for-10-08-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today’s economic data releases from the Eurozone and the U.S. will likely influence the direction of the EUR/USD pair. For the Euro, German Industrial Production data reported a surprising increase of 0.8% after previously contracting by -2.4%, signaling a recovery in the manufacturing sector. This positive data, along with ECOFIN meetings and a speech by the German Bundesbank President, could boost sentiment toward the Euro.
From the U.S. side, the trade balance narrowed to -70.1B from -78.8B, reflecting improving economic conditions, which could support the U.S. Dollar. Additionally, FOMC members Kugler, Bostic, and Collins are scheduled to speak today, potentially providing insights into the Federal Reserve's future monetary policy stance. Markets will also watch the NFIB Small Business Index, expected to rise to 92.0, which could further influence USD sentiment.

Price Action:
On the H4 chart, EUR/USD has been trading in a downtrend since mid-September, with the price currently hovering near the 1.0970 level. The Bollinger Bands indicate that the pair is oversold as the price touched the lower band, suggesting that a possible rebound could be on the horizon. Despite the recent bounce, the pair remains below key moving averages, reflecting overall bearish momentum.
The MACD shows continued bearishness, with the histogram below zero and declining. However, as the pair approaches key support levels, there could be a corrective movement if buyers manage to defend these levels.

Key Technical Indicators:
Bollinger Bands: The price has touched the lower band, indicating potential oversold conditions and a possible corrective bounce.
MACD: The indicator remains bearish, with the histogram and MACD line below the signal line, confirming ongoing selling pressure.

Support and Resistance:
Support Levels: Key support is located at 1.0945, with further support around 1.0890. A break below these levels could open the door for further declines toward 1.0865.
Resistance Levels: Immediate resistance is seen at 1.1020, which coincides with the middle Bollinger Band. A breakout above this level could push the pair toward the next resistance at 1.1080.

Conclusion and Consideration:
The EUR/USD H4 chart suggests a continuation of the bearish trend unless the pair manages to break above the immediate resistance levels. A bounce from the 1.0945 support could signal a potential correction, but the broader trend remains bearish. Traders should closely monitor today's speeches from FOMC members and U.S. trade balance data, as these could provide further direction to the pair.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.08.2024

NZDUSD H4 Technical and Fundamental Analysis for 10.09.2024 (https://fxglory.com/2024/10/09/nzdusd-h4-technical-and-fundamental-analysis-for-10-09-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The NZD/USD forex trading pair, also known as the "Kiwi," always has its fundamental outlook heavily influenced by factors from both the New Zealand and U.S. economies. For the NZD/USD news analysis today, traders are focused on speeches by key Federal Reserve members such as Philip Jefferson and Raphael Bostic. Any hawkish tone could further strengthen the U.S. dollar, applying pressure on the NZD/USD forecast today. Additionally, the Reserve Bank of New Zealand (RBNZ) interest rate policy, along with global risk sentiment, particularly commodity prices, plays a crucial role in driving the Kiwi. Rising interest rates in the U.S. can create a widening yield differential, pushing the pair lower. Meanwhile, data on U.S. crude inventories and wholesale inventories can influence broader USD demand, affecting the pair's movements.

Price Action:

The NZD/USD H4 chart shows a clear downward channel, indicating the pair’s strong bearish trend over the past several sessions. The Kiwi’s price action has made consistent lower highs and lower lows, adhering closely to the boundaries of this bearish channel. Recently, the pair has found temporary support around the 0.6119 level, but it struggles to maintain any upward momentum. Short-term recovery attempts are capped, and the overall structure suggests that selling pressure remains dominant.

Key Technical Indicators:

RSI (Relative Strength Index):
The RSI is currently at 33.68, indicating that the pair is in the oversold territory. This could suggest a possible short-term corrective bounce; however, the overall bearish momentum might continue unless the RSI moves back above the 50 level, confirming a shift in the pair’s sentiment.
Ichimoku Cloud:
The Ichimoku Cloud shows a clear bearish sentiment, with the price well below the cloud, indicating continued downside pressure. The Tenkan-sen line (red) is below the Kijun-sen line (blue), reinforcing the NZDUSD bearish outlook. The Lagging Span is also below the price, confirming that the current trend is bearish. However, the pair’s proximity to key support levels may lead to some consolidation.

Support and Resistance:

Support Levels:
The key support levels are 0.6119 and 0.6070. If the price breaks below these levels, the next major support could be around 0.6000.
Resistance Levels:
On the upside, resistance is seen at 0.6141, followed by 0.6160. Any break above these levels may result in short-term bullish momentum, though the broader trend remains bearish.

Conclusion and Consideration:

The NZD/USD H4 candle chart analysis today confirms that the pair is firmly entrenched in a bearish trend, with key technical indicators like the RSI and Ichimoku cloud reinforcing this sentiment. Although the RSI is approaching oversold territory, suggesting a potential short-term bounce, the overall bias remains bearish unless there is a significant change in the pair’s momentum. Traders should closely monitor upcoming U.S. data and Fed speeches for any signs of USD strength or weakness that could influence the NZD-USD fundamental movements. It's crucial to keep an eye on key support levels, as a break below them could open the door to further downside. Conversely, a break above resistance might offer a temporary relief rally.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.09.2024

USDJPY H4 Technical and Fundamental Analysis for 10.10.2024 (https://fxglory.com/2024/10/10/usdjpy-h4-technical-and-fundamental-analysis-for-10-10-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/JPY currency pair, also known as the “Gopher,” always has its daily fundamental forecast significantly influenced by monetary policy from both the Federal Reserve (Fed) and the Bank of Japan (BoJ). Today, several key events, including speeches by Federal Reserve members, like Susan Collins and Mary Daly, are expected to provide subtle clues regarding future US monetary policy, which could impact USD volatility. Hawkish commentary from these officials could strengthen the USD. In contrast, the BoJ’s recent measures to stabilize lending and corporate price adjustments will affect JPY strength, as traders monitor Japan's economic performance. Inflation reports and unemployment data from the US are also set to influence market movements in the short term, further shaping the USD/JPY direction.

Price Action:
On the USD/JPY H4 candle chart, we can see the pair’s bullish trend, moving within a rising channel. The Gopher’s price action is consistently making higher highs and higher lows, reflecting its strong bullish momentum. The pair is approaching a key resistance level at 149.860, which, if broken, could signal continued bullish pressure toward the 150.915 level. However, a rejection from this level could see a retracement back toward the lower boundary of the ascending channel.

Key Technical Indicators:
Stochastic Oscillator: The stochastic is hovering in overbought territory, currently around 91.17, signaling potential exhaustion in the uptrend. This could mean a possible short-term pullback or correction is on the horizon before any further USDJPY upward movement.
Volume: Recent volume analysis shows a gradual increase in bullish activity, supporting the ongoing uptrend. However, any divergence between the pair’s price action and its volume could hint at a reversal or weakening of the trend.

Support and Resistance:
Support Levels: The first support level is at 148.929, aligned with the lower boundary of the ascending channel. A break below this level could lead to further declines, testing the support at 148.200.
Resistance Levels: The next key resistance is located at 149.860, with the potential for further movement toward 150.915 if bullish momentum continues.

Conclusion and Consideration:
The USD/JPY analysis today is clearly displaying strong bullish momentum on its H4 chart, driven by the pair’s fundamental and technical factors. Traders should keep an eye on the upcoming speeches by Fed officials, which may provide insight into future interest rate decisions that could push the pair higher. However, with the stochastic oscillator in overbought territory, caution is advised, as there may be a short-term pullback before a continuation of the upward trend. Monitoring support levels and key resistance around 149.860 will be essential for determining potential trading opportunities. Implementing proper risk management strategies, including stop-losses near key support levels, is crucial given the market’s volatility.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.10.2024

USDCAD Daily Technical and Fundamental Analysis for 10.11.2024 (https://fxglory.com/2024/10/11/usdcad-daily-technical-and-fundamental-analysis-for-10-11-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, several key factors influence the USD/CAD pair. U.S. data includes the Producer Price Index (PPI), which is a critical indicator of inflation at the producer level. A higher-than-expected PPI result would likely strengthen the U.S. Dollar, reinforcing expectations for a hawkish Federal Reserve stance. In addition, speeches by Federal Reserve members such as Austan Goolsbee and Michelle Bowman may provide further insight into the Fed's monetary policy, impacting USD strength. On the CAD side, economic activity will be affected by labor market data, including employment change and unemployment rates. If Canadian data disappoints, it could weigh on the Canadian dollar, pushing the USD/CAD pair higher.

Price Action:
In recent days, the USDCAD pair has been in a strong uptrend, consistently making higher highs and higher lows. The price is moving within an ascending channel, as seen in the H4 timeframe, with momentum driving the pair above the key Fibonacci retracement levels. A minor pullback is observed at the upper boundary of the channel, but bullish momentum remains strong as the pair continues trading above the 50% Fibonacci retracement.

Key Technical Indicators:
Ichimoku Cloud: The price is trading well above the Ichimoku Cloud, confirming a strong bullish trend. Both the Tenkan-sen and Kijun-sen lines are pointing upwards, reinforcing the positive momentum. The Chikou Span also confirms the bullish trend as it stays above the price action, indicating that the trend is likely to continue in the near term.
MACD (Moving Average Convergence Divergence): The MACD line remains above the signal line, confirming ongoing bullish momentum. However, the MACD histogram is starting to flatten, suggesting that the momentum might be weakening slightly. Traders should be cautious of a possible bearish crossover, which could indicate a slowing trend.
Williams %R: The Williams %R indicator is currently approaching overbought territory, indicating that the USDCAD pair could be overextended in the short term. While this reflects strong buying pressure, it also signals a possible correction. A move below the -20 level may signal the beginning of a pullback.

Support and Resistance Levels:
Support: The nearest support level is located at 1.3700, which aligns with the 50% Fibonacci retracement level and the lower bound of the ascending channel. A further decline may find stronger support at 1.3650, which is close to the 38.2% Fibonacci retracement.
Resistance: The immediate resistance is at 1.3780, near the recent highs. A break above this level could push the pair towards 1.3830, which aligns with the 61.8% Fibonacci retracement level and the top boundary of the current channel.

Conclusion and Consideration:
The USDCAD pair on the H4 chart remains in a strong bullish trend, supported by the Ichimoku Cloud, MACD, and Williams %R indicators. While the pair shows some signs of potential short-term overextension, the broader trend continues to favor the bulls. Traders should keep an eye on today’s USD and CAD economic releases, which could drive further volatility, particularly if U.S. PPI data or Fed member speeches signal a hawkish stance. As always, keeping track of key support and resistance levels will be crucial for managing risk and identifying potential trading opportunities.

Disclaimer: This analysis of USDCAD is intended for informational purposes only and does not constitute financial advice. Currency trading involves significant risk, and market conditions can change rapidly. Traders should perform their own research and analysis before making any trading decisions.

FXGlory
10.11.2024

BTCUSD Daily Technical and Fundamental Analysis for 10.14.2024 (https://fxglory.com/2024/10/14/btcusd-daily-technical-and-fundamental-analysis-for-10-14-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The BTC/USD pair represents the exchange rate between Bitcoin and the US Dollar. Today, market liquidity for BTC USD may be lower due to the Columbus Day holiday in the US, which typically results in less market activity. This could lead to irregular volatility in the cryptocurrency markets, especially with the absence of major institutional traders. However, volatility may pick up later as Neel Kashkari, the President of the Federal Reserve Bank of Minneapolis, is scheduled to speak about fiscal deficits and monetary policy at a conference in Argentina. His comments may offer insights into future US interest rate decisions, which could impact USD strength and, consequently, BTCUSD pair. In the coming days, the focus will be on any hawkish statements from other Federal Reserve officials, which could push the dollar higher and apply pressure on Bitcoin prices.

Price Action:
In the H4 time frame, BTCUSD has been showing signs of a bullish trend, as recent candles have been predominantly positive. The BTC USD price is currently moving between the 23.6% and 38.2% Fibonacci retracement levels, suggesting a continuation of the upward trend. After a strong push from the 50% Fibonacci level, the price broke above the 38.2% level and is now testing the 23.6% retracement, a key area of interest for traders. The BTCUSD price action suggests that buyers are regaining control, with the possibility of pushing the price higher if BTC-USD candle successfully holds above these retracement levels.

Key Technical Indicators:
Bollinger Bands: The BTC/USD price is trading within an upward trend, supported by widening Bollinger Bands, indicating increasing volatility. The price is moving closer to the upper band, signaling strong bullish momentum. Over the last few candles, the price has remained between the 38.2% and 23.6% Fibonacci retracement levels, which aligns with the positive price movement.
Parabolic SAR: The Parabolic SAR indicator shows a strong bullish sentiment, with the last seven dots forming below the candles. This indicates upward momentum and suggests that the current uptrend is likely to continue in the short term.

Support and Resistance Levels:
Support: Immediate support is located at $60,947 (50% Fibonacci level), followed by the next key support at $59,271 (61.8% Fibonacci level).
Resistance: Immediate resistance is seen at $63,385 (23.6% Fibonacci level). A break above this level could push BTC/USD toward the next psychological resistance near $66,000.

Conclusion and Consideration:
The BTCUSD forex pair shows strong bullish momentum on the H4 chart, supported by key indicators like Bollinger Bands and the Parabolic SAR, both signaling upward price movement. However, caution is advised due to irregular volatility stemming from the US bank holiday and potential market-moving comments from Federal Reserve officials. Traders should monitor the 23.6% Fibonacci resistance level closely, as a break above could open the doors for further gains. Additionally, market participants should stay alert to any sudden shifts in USD strength due to upcoming speeches that may affect interest rate expectations.

Disclaimer: The analysis provided for BTC/USD is intended for educational purposes and does not constitute financial advice. Traders should perform their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it's essential to stay updated on current events.

FXGlory
10.14.2024

NZDUSD Daily Technical and Fundamental Analysis for 10.15.2024 (https://fxglory.com/2024/10/15/nzdusd-daily-technical-and-fundamental-analysis-for-10-15-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The NZDUSD pair reflects the exchange rate between the New Zealand Dollar and the US Dollar. The New Zealand Dollar has been under pressure recently, driven by concerns around slowing economic growth in New Zealand and ongoing global uncertainties. Traders are awaiting potential signals from the Reserve Bank of New Zealand (RBNZ) regarding future interest rate policy, with inflation remaining a key concern. The latest inflation data showed stability, but the market is still uncertain about how the RBNZ will respond, especially if global risks intensify.
In the US, the upcoming speeches by Federal Reserve officials, including FOMC members Daly and Kugler, will be closely watched. These speeches may provide insights into the Federal Reserve's stance on interest rate hikes and inflation control. If the tone remains hawkish, it could strengthen the US Dollar, applying further pressure on the NZDUSD pair. Additionally, any developments in global commodity prices, particularly dairy and energy prices, could influence the New Zealand Dollar, given its heavy reliance on commodity exports.

Price Action:
In the H4 timeframe, NZDUSD is displaying signs of consolidation after experiencing a minor recovery from recent lows. The pair is currently trading near a key support zone, but recent candles show mixed sentiment, with neither bulls nor bears firmly in control. Price action suggests that the pair is waiting for a catalyst, such as central bank comments or economic data, before making a decisive move. NZDUSD has recently bounced off a critical support area near 0.60500, but is struggling to break through resistance around 0.61000.

Key Technical Indicators:
MACD: The MACD shows weak bullish momentum, with the MACD line slightly above the signal line. However, the histogram is showing low levels of activity, indicating that the upward trend lacks strong momentum, and a reversal could occur if the fundamentals shift.
RSI: The Relative Strength Index (RSI) is hovering around 50, indicating a neutral stance. This suggests that the pair is neither overbought nor oversold, leaving room for movement in either direction depending on market catalysts.

Support and Resistance Levels:
Support: The immediate support level is located at 0.60500, where the pair has found recent buying interest. Below that, stronger support can be found at 0.59400, a key psychological level.
Resistance: Resistance lies at 0.61000, a level that has capped gains in recent sessions. A break above this could open the door to a retest of 0.61400, a significant round number that could attract further buying interest if breached.

Conclusion and Consideration:
NZDUSD is in a neutral stance, consolidating around key support levels in the H4 timeframe. The MACD is signaling weak bullish momentum, while the RSI suggests there is still room for movement in either direction. Traders should closely monitor upcoming FOMC member speeches, as any hawkish comments from the Federal Reserve could strengthen the US Dollar, pushing NZDUSD lower. Meanwhile, any dovish signals or supportive RBNZ commentary could provide a short-term boost to the New Zealand Dollar. The pair remains vulnerable to fluctuations in global risk sentiment and commodity prices, which could act as a catalyst for future movements. Traders should be cautious and monitor support and resistance levels closely for any potential breakouts.

Disclaimer: The analysis provided for NZDUSD is intended for educational purposes and does not constitute financial advice. Traders should perform their own research and analysis before making any trading decisions. Market conditions can change rapidly, and it's essential to stay updated on current events.

FXGlory
10.15.2024

EURGBP H4 Technical and Fundamental Analysis for 10.16.2024 (https://fxglory.com/2024/10/16/eurgbp-h4-technical-and-fundamental-analysis-for-10-16-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:

The EUR/GBP news analysis today is as always influenced by the macroeconomic landscapes of both the Eurozone and the United Kingdom, reflecting the latest economic developments. On the GBP side, upcoming UK inflation data, particularly the Consumer Price Index (CPI) due on November 20, 2024, remains a crucial driver. Higher-than-expected inflation readings could push the Bank of England towards further monetary tightening, potentially strengthening the British pound. Meanwhile, for the Euro, attention is focused on the ECB’s future policy, where investors are monitoring remarks by ECB President Christine Lagarde regarding interest rates and economic outlook. As both economies deal with inflationary pressures, traders must assess the pair’s key fundamentals to anticipate future EUR/GBP movements.

Price Action:

The EUR/GBP H4 chart has seen a consistent downtrend over the past few sessions. The pair’s price action shows a consolidation phase following a significant decline, with the price hovering near a key support level of 0.83190. The current EURGBP technical analysis suggests a lack of strong momentum in either direction, indicating indecision in the market. If prices break below this support level, further downside can be expected, while a sustained move above the 0.83295 resistance could signal a reversal or a consolidation phase.

Key Technical Indicators:

Ichimoku Cloud:
The price is trading below the Ichimoku cloud, suggesting the pair’s bearish sentiment. The cloud itself remains bearish, with future levels still below the current price, indicating that downside pressure may persist unless a clear breakout occurs.
RSI (Relative Strength Index):
The RSI stands at 47.32, indicating neutral conditions. This suggests that the market is neither overbought nor oversold, giving room for movement in either direction depending on fundamental news.
MACD (Moving Average Convergence Divergence):
The MACD histogram is slightly negative, with the MACD line below the signal line, reinforcing the bearish momentum. However, the histogram shows signs of flattening, which could suggest a potential reduction in bearish momentum if upcoming data favors the Euro.

Support and Resistance:

Support Levels:
The support level at 0.83190 is a critical level that, if broken, could lead to further declines.
Resistance Levels:
The resistance at 0.83295 is the Immediate resistance that needs to be overcome for any meaningful upside movement, and the resistance at 0.83585 is a higher resistance level that would act as a strong barrier if prices recover.

Conclusion and Consideration:

The EUR/GBP forecast today is suggesting that the pair will remain in a bearish phase, as highlighted by the Ichimoku cloud and MACD indicators. However, with the RSI showing neutral conditions and the MACD histogram flattening, traders should be cautious about potential reversals or consolidation. The upcoming UK inflation data and any hints from the ECB will play pivotal roles in determining the pair's next move. A break below the 0.83190 support would confirm continued bearishness, while a push above 0.83295 could signal a shift towards a more neutral or bullish EUR/GBP outlook. As always, risk management is essential, particularly with key economic data on the horizon.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.16.2024

AUDUSD H4 Technical and Fundamental Analysis for 10.17.2024 (https://fxglory.com/2024/10/16/audusd-h4-technical-and-fundamental-analysis-for-10-17-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUD/USD news analysis today is influenced by a variety of economic factors from both Australia and the United States. Recently, Australia's employment data and unemployment rate have been pivotal in shaping the Australian dollar's strength. A better-than-expected increase in job creation typically bolsters the AUD, as it signals a healthy economy and boosts consumer spending. On the other hand, the US dollar is being driven by various data points, including retail sales, jobless claims, and consumer sentiment. Hawkish statements from the Federal Reserve could lend support to the USD, while dovish tones or weak economic data would likely weaken it. Overall, both currencies in the AUD/USD pair, also known as the “Aussie”, are highly reactive to economic releases, with traders paying close attention to employment and inflation data to gauge future interest rate changes.

Price Action:
The AUD/USD H4 chart shows the pair’s clear bearish trend, with prices moving lower and making lower highs. The pair is currently trading around 0.66813, as evidenced by a series of red candles, signaling sustained selling pressure. There is a consistent downward momentum as the AUD/USD price remains below the Ichimoku cloud, indicating its bearish market sentiment. Key support levels are being tested, and the Aussie’s price action suggests a potential continuation of the downward trend if sellers maintain control.

Key Technical Indicators:
Ichimoku Cloud: The price is trading below the Ichimoku cloud, which confirms a bearish trend in the market. The cloud itself is showing a wide span, indicating strong resistance overhead. The conversion line (Tenkan-sen) is below the baseline (Kijun-sen), reinforcing the downward bias.
MACD: The MACD histogram shows continued AUDUSD bearish momentum, with the MACD line trading below the signal line. This suggests that the selling pressure is likely to persist, and there’s little sign of a bullish reversal in the short term.

Support and Resistance:
Support Levels: The immediate support level is at 0.66600, followed by 0.66370. These levels could provide a floor for the price in the short term if the selling pressure eases.
Resistance Levels: Key resistance is seen at 0.66930, with stronger resistance at 0.67300. Any upside movement would likely face challenges at these levels due to the broader bearish trend.

Conclusion and Consideration:
In summary, the AUD/USD forecast today tells us that the pair is experiencing bearish momentum as shown by both the Ichimoku and MACD indicators. Given the ongoing pressure, traders should be cautious of potential further downside, particularly if key support levels break. However, should upcoming economic data from Australia, such as employment figures, surprise to the upside, the pair could see a retracement toward the resistance levels. It is critical for traders to stay updated with the latest economic data and central bank announcements to better anticipate potential shifts in the AUDUSD pair’s direction.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.17.2024

GBPUSD H4 Technical and Fundamental Analysis for 10.18.2024 (https://fxglory.com/2024/10/18/gbpusd-h4-technical-and-fundamental-analysis-for-18-10-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis
The GBP/USD pair is influenced today by key economic indicators from both the UK and the US. In the UK, the latest retail sales figures from the Office for National Statistics will be closely watched. Retail sales are a primary indicator of consumer spending and economic health; a better-than-expected result could boost the GBP currency. In the US, data from the Treasury Department on long-term securities purchases (TIC) and building permits provide insights into economic activity. Positive data from the US could strengthen the USD symbol, putting downward pressure on GBP USD forex pair. Additionally, the upcoming speech by Federal Reserve Governor Christopher Waller could offer clues about future US monetary policy, potentially adding volatility to the pair.

Price Action
The GBPUSD H4 chart reveals that the pair has been in a bearish trend for the past few weeks, although the most recent candles show some bullish recovery attempts. Out of the last candles, some of the last candles have turned bullish, indicating possible signs of short-term consolidation or retracement. The GBPUSD price is currently attempting to break above the lower boundary of the parabolic channel (in dark orange), which it has been trading below, indicating ongoing bearish momentum. However, if the price manages to break and hold above the 1.30204 level, further upside could be expected, leading to a potential shift in market sentiment.

Key Technical Indicators
%R Indicator: The Williams %R is at -57.93, which is mid-range and indicates that the price is neither overbought nor oversold. This suggests that while the price has some room for movement in either direction, the current trend remains bearish until further evidence shows otherwise.
Stochastic Oscillator (5,3,3): The Stochastic indicator shows a value of 80.92 and 76.87, indicating that the pair is nearing overbought conditions. This might suggest a short-term pullback or consolidation before any continued upward movement, especially if resistance levels are not breached.
Parabolic SAR: The Parabolic SAR dots (in DeepSkyBlue) are currently positioned above the GBP USD price, confirming the ongoing bearish trend. The price is attempting to push through the lower boundary of the channel, indicating a potential breakout if momentum builds. However, traders should be cautious, as the overall trend remains bearish until the parabolic dots shift below the price.

Support and Resistance
Support: The immediate support level is at 1.29800, which aligns with a previous low and the lower boundary of the Fibonacci retracement level.
Resistance: The nearest resistance is at 1.30250, with a higher level at 1.30880, which corresponds with the 23.6% Fibonacci retracement level and could act as a barrier if the price attempts to move higher.

Conclusion and Consideration
The GBP-USD currency pair is currently attempting to recover from its bearish trend on the H4 chart. Despite recent bullish candles, the trend remains predominantly bearish, as indicated by technical indicators such as the Parabolic SAR and Williams %R. Traders should monitor support at 1. 29800 and resistance at 1.30250 closely. A break above 1.30250 could lead to further bullish momentum, but failure to hold above this level may result in continued bearish pressure. Market participants should also keep an eye on the upcoming US and UK economic data releases for potential impacts on GBP/USD volatility.

Disclaimer: This analysis is provided for informational purposes only and does not constitute investment advice. Trading forex carries a high level of risk, and traders should conduct their own analysis before making any trading decisions.

FXGlory
10.18.2024

Quote from: FXGlory Ltd on March 06, 2024, 04:46:04 AM

EURUSD Analysis for 06.03.2024

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

The EUR/USD has been carving a bullish path on the H4 chart, staying above the mid-line of the Bollinger Bands and consistently forming higher peaks and troughs. As it approaches the upper band, there's potential for encountering resistance or extending the upward trend. The bullish slant is further affirmed by the Parabolic SAR's position under the price and an RSI reading of 52.87, indicating positive momentum without being overextended. Meanwhile, the MACD flags a slight dip in momentum, advising vigilance. Watch for possible breakouts or pullbacks at the upper Bollinger Band boundary, and keep abreast of fundamental developments that could stir the market. Proceed with caution and implement sound risk management tactics.

Disclaimer: This analysis is for informational purposes only, not investment advice. Conduct personal research and assess risk before trading.

Discover detailed market insights and trading strategies by visiting fxglory.com.

FXGlory
06.03.2024

The DXY has been strong lately, closing over 103.50. The labour market data, robust inflation, and US economy all contribute to this strength, which has stopped the Federal Reserve from making the many interest rate decreases that were previously expected. https://www.fxstreet.com/currencies/us-dollar-index (https://www.fxstreet.com/currencies/us-dollar-index)

disclaimer taking a short for USD cross pairs for now!

EURUSD H4 Technical and Fundamental Analysis for 10.21.2024 (https://fxglory.com/2024/10/21/eurusd-h4-technical-and-fundamental-analysis-for-10-21-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD news analysis today is influenced by various fundamental factors, including news from both the Eurozone and the United States. In the Eurozone, the Producer Price Index (PPI) released by Destatis remains a key indicator as it signals potential inflationary pressures. An actual result above the forecast would support the Euro; however, the release is still pending. Simultaneously, ongoing IMF meetings in Washington, which cover global economic outlooks and policies, could add volatility, particularly if significant policy shifts are announced. On the US side, several speeches from Federal Reserve officials, including Lorie Logan and Neel Kashkari, are anticipated. Given the potential hawkish tones, these discussions could bolster the USD, creating further downward pressure on the EUR/USD exchange rate.

Price Action:
The EUR/USD H4 candle chart, displays a consistent bearish trend with lower highs and lower lows, reflecting a continuation of selling pressure. The price remains below key levels, and attempts at a recovery are meeting resistance, as shown by several red candles indicating selling dominance. The pair’s price action shows that its price is currently hovering near a short-term support level at 1.0836, with a slight bounce observed; however, momentum remains weak, suggesting that further declines could be likely if this level fails to hold.

Key Technical Indicators:
Ichimoku Cloud: The Ichimoku Cloud shows that EUR/USD is trading well below the cloud, indicating the pair’s strong bearish sentiment. The Tenkan-sen (red) is below the Kijun-sen (blue), signaling ongoing selling pressure. Additionally, the leading span of the cloud remains thick and bearish, indicating a potential continuation of the downward trend.
MACD: The MACD indicator shows bearish momentum, as the MACD line is below the signal line and the histogram bars are negative. The distance between the lines is still widening, which reinforces the bearish sentiment and suggests that further downside movement may continue if the price remains below key levels.
RSI (Relative Strength Index): The RSI is currently at 45.93, indicating bearish momentum but not yet reaching oversold levels. This positioning shows that while there is still room for further downward movement, the market might pause or consolidate before continuing the decline.

Support and Resistance:
Support Levels: The immediate support is seen at 1.0836, with further support at 1.0800. If these levels are breached, it could open the way to deeper declines, possibly toward the 1.0770 zone.
Resistance Levels: Resistance is observed at 1.0896, followed by a stronger resistance level at 1.0930, which aligns with the top of the recent consolidation range. A break above these levels could suggest a reversal; however, given the current trend, this is less likely.

Conclusion and Consideration:
The EUR/USD fundamental analysis continues to show bearish tendencies as global economic events and speeches from key US Federal Reserve members keep the market under pressure. The pair’s technical analysis on its H4 chart, with the confirmations of the Ichimoku Cloud, MACD, and RSI, all point to ongoing bearish momentum, with the price struggling to overcome resistance levels. Traders should watch for further declines if support at 1.0836 is broken and remain cautious about potential EURUSD volatility from the IMF meetings and upcoming economic data. Effective risk management strategies, such as setting stop-loss orders and monitoring key fundamental news events, are essential in this current trading environment.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.21.2024

GBPCAD H4 Technical and Fundamental Analysis for 10.22.2024 (https://fxglory.com/2024/10/22/gbpcad-h4-technical-and-fundamental-analysis-for-10-22-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/CAD news analysis today is influenced by various fundamental factors, including news from both Canada and the United Kingdom. In Canada, the Industrial Product Price Index (IPPI) and the Raw Materials Price Index (RMPI) were released, showing declines of -0.4% and -1.7%, respectively. Although these results were better than their previous values, they indicate ongoing weakness in inflationary pressure, which could weigh on the Canadian dollar. In the UK, the Bank of England Governor Bailey's speech at 2:25 PM and subsequent comments from MPC Member Greene at 2:45 PM are critical. Their statements could significantly impact the pound if their tone is interpreted as hawkish or dovish, adding to the volatility of GBP/CAD.

Price Action:
The GBP/CAD H4 candle chart displays a mix of consolidation and a potential bearish pullback as the pair approaches key support levels. After recent attempts at breaking above key resistance levels, the price has retracted, reflecting some selling pressure. The current candle suggests bearish sentiment, with the price moving below the Tenkan-sen (red line), indicating short-term downward movement.

Key Technical Indicators:
Ichimoku Cloud: The Ichimoku Cloud shows that GBP/CAD is currently trading within the cloud, indicating indecisiveness in the market. The Tenkan-sen (red) has crossed below the Kijun-sen (blue), which suggests emerging bearish momentum. The lagging span has not yet confirmed a definitive trend, pointing to a potentially mixed market sentiment.
MACD: The MACD indicator is still positive, but the histogram bars are starting to diminish in height, indicating a potential weakening of bullish momentum. The MACD line remains slightly above the signal line, but the narrowing gap suggests caution is warranted as momentum may be shifting.
RSI (Relative Strength Index): The RSI is currently at 48.45, reflecting neutral to slightly bearish momentum. This level indicates that there is room for further movement in either direction without being overbought or oversold, thus leaving the door open for continued downside if fundamentals support it.

Support and Resistance:
Support Levels: The immediate support is seen at 1.79212, followed by 1.78888 and 1.78500. If the price breaks below these support levels, it could lead to a deeper decline.
Resistance Levels: Resistance is observed at 1.79900, with further resistance at 1.80265 and 1.81000. A break above these levels could indicate a reversal to the upside, but given the current momentum, this appears less likely unless positive GBP news supports such a move.

Conclusion and Consideration:
The GBP/CAD fundamental analysis continues to show potential bearish tendencies due to mixed economic data from Canada and upcoming speeches from key BOE officials, which could influence the pound’s strength. The pair's technical analysis on its H4 chart, considering the Ichimoku Cloud, MACD, and RSI indicators, suggests emerging bearish sentiment. Traders should watch for a break below the support at 1.79212, which may confirm further bearish movement, and stay attentive to any significant statements from Governor Bailey and MPC Member Greene, which could create spikes in volatility. Effective risk management, including monitoring fundamental news and setting appropriate stop-loss levels, is crucial in this market environment.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.22.2024

USDCAD H4 Technical and Fundamental Analysis for 10.23.2024 (https://fxglory.com/2024/10/23/usdcad-h4-technical-and-fundamental-analysis-for-10-23-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD news outlook today, is influenced by both the US Dollar and the Canadian Dollar, reacts to economic developments and central bank policies from both the US and Canada. Today, market participants are closely monitoring remarks from Michelle Bowman at the Annual Fintech Conference. Any hawkish signals from her speech could strengthen the USD, pushing the USD/CAD price higher. Additionally, Canadian economic updates, particularly those from the Bank of Canada (BOC), remain pivotal. With oil prices and energy inventories affecting the Canadian economy and the CAD’s value, traders should also pay attention to crude oil stock reports, as these are likely to create volatility in the USD/CAD market directions.

Price Action:
The USD/CAD H4 chart indicates the pair’s bullish trend as the price continues to trade above the Ichimoku cloud. The recent candles have shown some consolidation after a previous upward surge, suggesting the price may be preparing for the next move. The pair’s price action remains above key moving averages, indicating the persistence of bullish sentiment. If the price sustains above the cloud and the moving averages, further bullish movement is likely.

Key Technical Indicators:
Ichimoku Cloud: The USD/CAD price remains above the Ichimoku cloud, reinforcing its bullish outlook. The cloud is acting as a support area, with its base around 1.3735. As long as the price stays above this cloud, bullish momentum is expected to continue. The leading span (Senkou Span A and Span B) shows a thick cloud, suggesting solid support below.
MACD: The MACD indicator shows a gradual convergence between the MACD line and the signal line after a strong bullish histogram. This could indicate a potential slowing of bullish momentum or a consolidation phase. Traders should monitor for any crossover signals that might hint at a shift in trend direction.

Support and Resistance:
Support Levels:
The immediate support level is at 1.3916, with further support located at 1.3761, which aligns with the lower boundary of the Ichimoku cloud.
Resistance Levels:
The nearest resistance is at 1.3842. A break above this level could push the price further towards higher resistance levels, potentially around 1.3885.

Conclusion and Consideration:
The USD/CAD H4 analysis suggests a continuation of the bullish trend as long as the price remains above the Ichimoku cloud. However, the MACD indicates that traders should be cautious of a potential consolidation or pullback. Fundamental events such as speeches from Federal Reserve officials and oil inventory reports are critical for the USD/CAD news analysis, as they could dictate the next significant price movement. Traders should remain attentive to these events while maintaining proper risk management strategies, including stop losses around key support levels, to navigate potential volatility.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.23.2024

GBP/USD H4 Daily Technical and Fundamental Analysis for 10.24.2024 (https://fxglory.com/2024/10/24/gbp-usd-h4-daily-technical-and-fundamental-analysis-for-10-24-2024/)

Time Zone: UTC (+03:00)
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD, also known as "Cable," reflects the exchange rate between the British Pound (GBP) and the US Dollar (USD). Today’s focus is on US unemployment claims data, which, if lower than expected, could boost the USD, putting pressure on GBP/USD. The Federal Reserve Bank of Cleveland President Beth Hammack is also scheduled to speak, and her remarks may hint at future US monetary policy, influencing market sentiment. Additionally, upcoming PMI data from the UK is crucial, as positive figures could support the GBP; however, any signs of contraction could weigh heavily on the pair. Moreover, with the Bank of England (BOE) participating in global discussions, market participants should watch for any policy updates or remarks that could create further volatility.

Price Action:
The GBP/USD pair shows a persistent downtrend in the H4 timeframe. The GBPUSD price has been consistently moving within a descending channel and is currently trading below the Ichimoku Cloud, indicating continued bearish pressure. The past few candles suggest some consolidation, but the pair remains under selling pressure as it fails to break above the cloud. The pair also hovers near the 23.6% Fibonacci retracement level, with strong resistance ahead. Given the current setup, the price could further test lower levels if selling momentum continues.

Key Technical Indicators:
Ichimoku Cloud: The GBP/USD forex pair is trading below the Ichimoku Cloud, confirming the bearish trend. The cloud is acting as overhead resistance, and the lagging span suggests that the bearish momentum could persist unless the price breaks above the cloud and the conversion line crosses the baseline.
MACD (Moving Average Convergence Divergence): The MACD indicator shows a bearish setup, with the MACD line remaining below the signal line. The histogram is in negative territory, signaling ongoing downward momentum, which aligns with the overall price action.
RSI (Relative Strength Index): The RSI stands at 31.66, indicating that the pair is nearing oversold conditions. Although this suggests potential for a short-term bounce or consolidation, the overall bearish trend remains dominant unless a reversal pattern is confirmed.

Support and Resistance:
Support: The nearest support level is located at 1.2900, which aligns with a recent low and the lower boundary of the descending channel. A break below this could open the path to further downside movement.
Resistance: Immediate resistance is observed at 1.3000, where the upper boundary of the descending channel and the Ichimoku Cloud overlap. A break above this level could signal a shift in momentum.

Conclusion and Consideration:
The GBP USD H4 analysis indicates a continuation of bearish momentum as long as the price remains below the Ichimoku Cloud and within the descending channel. Traders should closely monitor the upcoming US unemployment claims and speeches from key economic figures for clues on market direction. Given the current oversold levels on the RSI, there may be short-term opportunities for consolidation or a minor bounce; however, the dominant downtrend persists. It is advisable for traders to manage risk appropriately, as unexpected fundamental shifts, particularly from US data or UK economic indicators, could lead to volatility.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute trading advice. Market conditions can change rapidly, and it is crucial for traders to conduct their own research and remain updated with the latest market information. Always practice proper risk management when trading forex markets.

FXGlory
10.24.2024

USDJPY H4 Technical and Fundamental Analysis for 10.25.2024 (https://fxglory.com/2024/10/25/usdjpy-h4-technical-and-fundamental-analysis-for-10-25-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/JPY forex trading pair, often referred to as the "Ninja," is influenced heavily by both U.S. and Japanese economic releases. For today’s USDJPY news analysis, traders are focusing on U.S. Durable Goods Orders and Japanese inflation data, specifically Tokyo's CPI. If U.S. data beats expectations, it may strengthen the USD, pushing USD/JPY prices higher, while a stronger-than-forecast CPI in Japan could bolster the JPY, potentially leading to downward pressure on the pair. Furthermore, the upcoming Corporate Services Price Index (CSPI) release from Japan also offers insight into inflation trends, which may influence the Bank of Japan’s monetary policy stance, indirectly affecting the yen's value against the dollar. These economic events are key for traders monitoring the Ninja for short-term trading opportunities.

Price Action:
On the USD/JPY H4 candle chart, the price shows a clear uptrend, moving within an ascending channel. The Ninja’s price action today indicates some consolidation as the pair trades near the upper boundary of the channel. The price briefly tested resistance levels around 153.070 but has since pulled back slightly, suggesting profit-taking or hesitation among traders. This could either be a pause before a continuation of the uptrend or a sign of a potential reversal if bearish momentum picks up.

Key Technical Indicators:
MACD: The MACD histogram is positive, and the MACD line is above the signal line, indicating a USD-JPY bullish trend. However, the recent narrowing of the histogram bars suggests that bullish strength might be weakening, and traders should monitor for any potential bearish crossovers which could signal a shift in trend.
RSI (Relative Strength Index): The RSI is currently around 56, indicating moderate bullishness. As long as the RSI remains above the 50 level, the bullish momentum remains intact, but if the RSI begins to dip below this level, it may suggest growing bearish pressure and the possibility of a correction.

Support and Resistance:
Support Levels: The nearest support level is at 151.568, followed by a stronger support at 151.051, which aligns with the lower boundary of the ascending channel.
Resistance Levels: Immediate resistance is observed at 152.047, and further resistance lies at 153.070, which has previously acted as a barrier to higher prices. A break above this level could open the path toward higher highs.

Conclusion and Consideration:
The USD/JPY forecast today shows the pair is currently consolidating within an uptrend on its H4 chart, with technical indicators showing moderate bullishness but also signaling caution as momentum appears to be slowing. Traders should closely watch upcoming U.S. and Japanese economic data releases, as they could provide the catalyst for the next USDJPY fundamental move. A break above the 153.070 resistance could confirm continued bullish momentum, while a failure to maintain the channel’s support may signal a correction. Proper risk management is advised, especially around key economic events that may increase volatility.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
10.25.2024

EURGBP Daily Technical and Fundamental Analysis for 10.28.2024 (https://fxglory.com/wp-content/uploads/2024/10/EURGBP-H4_Daily_Technical_and_Fundamentan_Analysis-_for_10_28_2024-1024x524.webp)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/GBP currency pair, reflecting the exchange rate between the Euro (EUR) and the British Pound (GBP), could experience moderate volatility today due to the release of data from the Confederation of British Industry (CBI) on retail and wholesale sales volume. This index serves as a leading indicator of consumer spending trends in the UK, with values above zero indicating a rise in sales volume. A figure above the forecast is generally positive for the GBP, suggesting higher consumer demand. The market's response to this data could influence the EUR/GBP direction, as better-than-expected data might provide short-term support for the GBP, potentially applying bearish pressure on EUR/GBP. Traders should watch for this release as it could lead to increased price fluctuations in the EUR/GBP forex pair today.

Price Action:
On the H4 timeframe, EURGBP has shown mixed price movement within a slightly bearish trend. The price has fluctuated between bullish and bearish candles, moving between the upper and middle Bollinger Bands. Currently, it rests near the middle band with the last two candlesticks displaying bullish characteristics. The pair is trading between the 23.6% and 38.2% Fibonacci retracement levels, indicating consolidation within a minor downward channel. This range-bound movement suggests a potential for either a breakout or further consolidation within these Fibonacci levels, which act as temporary support and resistance zones.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands for EUR GBP on the H4 chart show moderate volatility, with the price oscillating between the upper and middle bands. After a period of compression, the bands have expanded slightly, indicating potential for directional movement. The price currently hovers around the middle band, suggesting neutral momentum with a possible upward bias if it breaks above this line.
RSI (14): The RSI (Relative Strength Index) is currently around 47.67, slightly below the 50 level, indicating a balanced market with neither strong bullish nor bearish momentum. This level aligns with a consolidation phase, suggesting traders may be waiting for a catalyst, such as upcoming GBP news, to confirm the next directional move.
Williams %R (14): The Williams %R (14) indicator stands around -58.27, signaling that the pair is in a neutral to slightly bearish region. This positioning suggests that while there is mild selling pressure, the pair has room to shift either upwards or downwards based on market sentiment and external factors like the upcoming CBI report.

Support and Resistance:
Support: Immediate support is located at the 23.6% Fibonacci retracement level (0.8320) and further down near 0.8300, aligning with recent price lows.
Resistance: The nearest resistance is at the 38.2% Fibonacci level (0.8345), followed by the 50.0% level (0.8365) if bullish momentum picks up.

Conclusion and Consideration:
The EURGBP H4 chart currently suggests a consolidating trend within the 23.6% and 38.2% Fibonacci levels, showing a neutral bias. The Bollinger Bands, RSI, and Williams %R indicators all point towards indecision in the market, suggesting that the upcoming CBI report might serve as a critical catalyst for the next movement in the EUR/GBP pair. Traders should exercise caution and consider potential price volatility around the release time of the CBI data, as it may influence GBP strength. A close watch on support and resistance levels is advisable to confirm breakout or continuation patterns.

Disclaimer: This EUR/GBP analysis is for informational purposes only and does not constitute financial advice. Traders should perform their own due diligence and consider current market conditions before making any trading decisions. Rapid market changes can occur, especially around significant economic releases.

FXGlory
10.28.2024

USDCAD H4 Technical and Fundamental Analysis for 10.29.2024 (https://fxglory.com/2024/10/29/usdcad-h4-technical-and-fundamental-analysis-for-29-10-2024/)

Time Zone: UTC (+03:00)
Time Frame: 4 Hours (H4)

Fundamental Analysis:
USDCAD, reflecting the exchange rate between the US Dollar and the Canadian Dollar, is poised for significant market movements today as multiple economic indicators for both the US and Canada are released. The US has Trade Balance, Wholesale Inventory, House Price Index, and Consumer Confidence data scheduled, all of which could impact the dollar's strength. A positive shift in Trade Balance or Consumer Confidence is likely to bolster USD demand, potentially strengthening USDCAD. On the Canadian side, Bank of Canada Governor Tiff Macklem is set to testify, which may offer insights into future monetary policy. If Macklem's tone is hawkish, we might see a rise in the CAD, placing downward pressure on USDCAD. Traders should watch these releases closely, as they could introduce significant volatility.

Price Action:
In the H4 timeframe, USDCAD has maintained a clear bullish trend, moving within an ascending channel. The price is persistently trading between the middle and upper Bollinger Bands, indicating continued bullish control with minor retracements. This steady upward movement is highlighted by recent bullish candles that continue pushing the price higher within the channel, showing robust buyer momentum. Any breakout from this channel could indicate a shift in momentum and is worth watching.

Key Technical Indicators:
Bollinger Bands: USDCAD is moving in the upper half of the Bollinger Bands, oscillating between the middle and upper bands. This pattern suggests that the market is experiencing an extended bullish phase, with the price showing little inclination toward the lower band, reinforcing bullish sentiment.
RSI (Relative Strength Index): The RSI is currently at 65.28, indicating a bullish market but approaching the overbought threshold. Although this level shows that the upward momentum is strong, caution is advised as the market could be nearing an overextended condition.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, and the histogram bars are positive, which reinforces the current bullish trend. However, the reduced histogram size suggests slightly weakening bullish momentum, signaling potential consolidation or a minor pullback.
Volumes: Trading volume has shown moderate fluctuations, with some spikes on bullish candles. Increased volume during these upward moves indicates robust buying interest, supporting the bullish outlook.

Support and Resistance:
Support: The immediate support level is at 1.3831, aligning with the middle Bollinger Band and providing a strong base for any potential pullback within the ascending channel.
Resistance: The nearest resistance is at 1.3951, located at the upper boundary of the Fibonacci 100.0% retracement level. This level could act as a significant barrier, especially if the price attempts to break out from the ascending channel.

Conclusion and Considerations:
The USDCAD H4 chart shows consistent bullish momentum supported by price action and key technical indicators. The upward trend within the ascending channel suggests that buyers are still in control, although the RSI's approach to overbought territory and the MACD’s flattening histogram warrant cautious optimism. The upcoming US and Canadian economic data releases and the Bank of Canada Governor’s testimony could bring about increased volatility and potentially influence the USDCAD trend direction. Traders should monitor these levels and indicators closely for signs of trend continuation or reversal.

Disclaimer: The analysis provided for USDCAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
10.29.2024

AUDUSD Daily Technical and Fundamental Analysis for 10.30.2024 (https://fxglory.com/2024/10/30/audusd-daily-technical-and-fundamental-analysis-for-10-30-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUDUSD pair is currently influenced by mixed economic data from both Australia and the United States. Recent Australian Consumer Price Index (CPI) data revealed lower-than-expected inflation, with quarterly CPI coming in at 0.3% compared to the previous 1.0%, and the yearly CPI at 2.3% versus the prior 2.7%. This signals a deceleration in inflation, which may reduce the likelihood of further rate hikes from the Reserve Bank of Australia (RBA). The steady Trimmed Mean CPI at 0.8% suggests that core inflation is holding, but the overall decrease in inflationary pressure may drive the RBA to take a more dovish stance, weakening the Australian Dollar.
In contrast, the US economic data portrays resilience. The Advance GDP for the quarter met expectations at 3.0%, indicating steady growth, while the Advance GDP Price Index came in lower at 1.9% from the previous 2.5%, showing reduced inflationary pressure on growth. However, the ADP Non-Farm Employment Change was lower than anticipated at 110K, down from the forecasted 143K, signaling potential softness in the labor market. Still, the overall strength in GDP growth supports the Federal Reserve’s current monetary stance, potentially strengthening the US Dollar further.

Price Action:
In the H4 timeframe, AUDUSD is trending downwards within a well-defined descending channel, marked by consistent lower highs and lower lows. The pair is currently trading near key support levels around 0.65500, showing no definitive signs of reversal yet. Recent price action suggests continued bearish momentum, though the proximity to the lower Bollinger Band indicates potential for short-term oversold conditions. If the price breaks below the 0.65500 level, it could open the path towards the next support levels.

Key Technical Indicators:
MACD: The MACD indicates strong bearish momentum, with the MACD line positioned below the signal line and the histogram extending below zero. This configuration reflects a solid downward trend, although any divergence or slowing of the histogram may suggest a possible easing of bearish momentum.
RSI: The Relative Strength Index (RSI) is around 30, which is close to oversold territory. This level may attract some buying interest, suggesting a potential short-term rebound. However, the downtrend remains dominant, and a sustained move above 30 on the RSI would be needed to signal a possible reversal.
Volume: Volume remains relatively steady, without any significant spikes. This steady volume trend supports the continuation of the current trend but lacks strong buying interest, further confirming bearish sentiment.

Support and Resistance Levels:
Support: Immediate support at 0.65500, where the price is currently consolidating. Further support levels are seen at 0.65350 and 0.65200, which could provide stronger buying interest if the price continues to decline.
Resistance: Resistance is located at 0.66590, a recent level where price gains were capped. Additional resistance levels are at 0.66990 and 0.67190, where stronger selling pressure may re-emerge if the price rebounds.

Conclusion and Consideration:
AUDUSD is in a strong bearish trend on the H4 timeframe, trading near critical support levels. The MACD and RSI both signal bearish sentiment, though the RSI nearing oversold territory suggests the potential for a short-term pullback. Traders should closely monitor Federal Reserve commentary and any RBA updates, as hawkish US Fed statements could strengthen the USD further, intensifying the downward pressure on AUDUSD. Conversely, any dovish Fed signals or supportive Australian economic data may provide temporary relief for the AUD. Key support and resistance levels should be watched for any breakout, which could indicate a continuation or reversal of the current trend.

Disclaimer: The analysis provided for AUDUSD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
10.30.2024

EURUSD Daily Technical and Fundamental Analysis for 10.31.2024 (https://fxglory.com/2024/10/31/eurusd-daily-technical-and-fundamental-analysis-for-10-31-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EURUSD pair faces downward pressure from recent Eurozone data releases, showing a mixed economic picture. Germany’s retail sales disappointed with a -0.7% decline, against expectations of a 1.6% increase, suggesting weaker consumer spending and an economic slowdown. Similarly, German import prices showed a decrease of -0.4%, in line with forecasts but reflecting declining demand. France’s CPI was modestly positive at 0.2%, but Italy’s CPI came in slightly negative at -0.1%. The Eurozone’s CPI flash estimate showed an annual increase of 1.9%, slightly above expectations but still below the ECB’s target, suggesting inflation remains controlled and reducing pressure on the ECB for aggressive rate hikes.
The ECB’s recent economic bulletin reinforces a cautious outlook, as growth concerns overshadow inflationary risks. Additionally, the Eurozone’s unemployment rate holds steady at 6.4%, signaling a stable but uninspiring labor market. With core inflation also below target at 2.6% annually, these factors may drive the ECB to maintain its dovish stance, potentially weakening the Euro further.
Meanwhile, the U.S. data points highlight a resilient economic landscape. Core PCE, the Fed’s preferred inflation measure, showed a monthly increase of 0.3%, above expectations of 0.1%, suggesting inflationary pressures remain. Personal income and spending also surpassed forecasts, signaling strong consumer demand, while unemployment claims came in slightly above forecast but still reflect a stable job market. The Chicago PMI also exceeded expectations at 46.9, indicating some improvement in U.S. manufacturing sentiment. Overall, these data points suggest continued economic strength, potentially supporting the Federal Reserve’s stance and bolstering the U.S. Dollar.

Price Action:
On the H4 timeframe, EURUSD continues to trade within a descending trend channel. The pair recently tested resistance near the 23.6% Fibonacci retracement level and encountered selling pressure. With resistances at 1.08700 and 1.09000, the pair may face difficulty breaking higher unless there’s a strong bullish catalyst. Conversely, support levels are located at 1.08111 and 1.07860, where buyers may step in if the price moves lower.

Key Technical Indicators:
MACD: The MACD shows a slight bullish signal, with the MACD line slightly above the signal line, suggesting mild bullish momentum. However, the histogram remains close to zero, indicating limited strength in the current uptrend and a likelihood of continued bearish pressure unless upward momentum increases significantly.
RSI: The RSI stands around 58.28, showing a neutral to slightly bullish sentiment. This positioning suggests some potential for upside movement, but it remains vulnerable to reversal within the broader downtrend channel.

Support and Resistance Levels:
Support: immediate support is at 1.08111, with a further key level at 1.07860, where the price may encounter stronger buying interest.
Resistance: Resistance levels are set at 1.08700 and 1.09000. A break above these levels would indicate a potential shift in sentiment, while a failure to break through would likely maintain the bearish trend.

Conclusion and Consideration:
EURUSD is in a sustained bearish trend on the H4 timeframe, with economic fundamentals favoring the U.S. Dollar amid resilient U.S. economic data and cautious Eurozone prospects. The MACD and RSI suggest a slight bullish divergence, hinting at possible short-term upside, though resistance levels may cap gains. Traders should closely monitor upcoming U.S. economic data and any ECB statements, as strong U.S. data or dovish ECB comments could push the pair lower. Conversely, any signs of improving Eurozone data or dovish Fed commentary could provide temporary relief for the Euro. Key support and resistance levels should be watched closely for breakout or reversal signals.

Disclaimer: The analysis provided for EURUSD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
10.31.2024

EURJPY Daily Technical and Fundamental Analysis for 11.04.2024 (https://fxglory.com/2024/11/04/eurjpy-daily-technical-and-fundamental-analysis-for-11-04-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EURJPY pair faces a fundamental backdrop characterized by key economic data releases. For the Euro, today's focus will be on several Purchasing Managers' Index (PMI) reports. These PMIs are leading indicators of economic health and can drive volatility if the data significantly diverges from expectations. The higher-than-expected PMI readings would indicate economic expansion, potentially bolstering the Euro, while weaker-than-expected numbers could depress it. In contrast, the Japanese Yen is likely to experience lower liquidity and irregular market activity as Japanese banks remain closed for Culture Day. This could lead to increased market volatility as traders respond to economic data from the Eurozone.

Price Action:
In the H4 timeframe, EURJPY has been trading within an ascending channel, showing steady bullish momentum over the past few weeks. The recent candles display consolidation near the upper boundary of this channel, indicating a potential struggle between buyers and sellers. The price is hovering in the lower half of the Bollinger Bands, suggesting a correction phase. Despite this, the bullish trendline has held, providing dynamic support. The Parabolic SAR's placement above the candles signals bearish pressure, warranting caution for a potential trend reversal.

Key Technical Indicators:
Bollinger Bands: The price is currently in the lower half of the Bollinger Bands, suggesting a bearish sentiment or a potential bounce from oversold levels. A move to the middle or lower band could confirm the direction.
MACD (Moving average convergence Divergence): The MACD shows a weakening bullish trend as the histogram shrinks, signaling fading buying pressure. A bearish crossover could indicate a shift in momentum.
RVI (Relative Volatility Index): The RVI lines are close, indicating market indecision and a lack of strong directional movement. This supports the current consolidation in price action.
Parabolic SAR: The Parabolic SAR's last two dots above the candles indicate emerging bearish pressure. A continuation below could signal further downside risk.
%R (Williams %R): The %R at -80.16 shows the pair is in oversold territory, hinting at a potential rebound. However, extended oversold conditions may sustain bearish momentum.

Support and Resistance Levels:
Support: Immediate support is seen at 164.880, aligning with the 61.8% Fibonacci retracement level. A break below this level could drive the price towards the 50.0% Fibonacci retracement at 163.320.
Resistance: The nearest resistance level stands at 166.440, marked by the upper boundary of the ascending channel. A breach above this level could open the path to the next resistance near 167.220.

Conclusion and Consideration:
The EURJPY pair on the H4 chart exhibits a mixed outlook. While the overall trend has been bullish within the ascending channel, key indicators like the Parabolic SAR and MACD suggest that momentum is fading, with bearish signals emerging. The upcoming economic data for the Euro and low liquidity for the Yen due to the Japanese holiday add an element of unpredictability. Traders should be prepared for potential breakouts and consider setting stop losses carefully. Monitoring economic indicators and news events will be crucial in navigating the current market environment.

Disclaimer: The analysis provided for EUR/JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURJPY. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11.04.2024

EUR/USD Daily Technical and Fundamental Analysis for 11.07.2024 (https://fxglory.com/2024/11/07/eur-usd-daily-technical-and-fundamental-analysis-for-11-07-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD pair, reflecting the exchange rate between the Euro (EUR) and the US Dollar (USD), is currently under significant influence from recent geopolitical and economic events. The recent re-election of Donald Trump as the US president has boosted the USD, as markets anticipate policy continuity, which often supports the dollar in times of perceived political stability. Today, traders will keep a close watch on US unemployment claims and labor cost data, both of which can impact USD strength. Additionally, the Eurozone’s economic outlook is influenced by upcoming reports, including Germany’s industrial production and trade balance data. These metrics provide insights into the health of the Eurozone’s largest economy and may support the euro if they surpass expectations. Both currencies are positioned to react to these releases, with the EUR-USD likely experiencing volatility based on these economic signals.

Price Action:
In the H4 timeframe, EUR USD experienced a sharp decline following the US election results, falling from the upper Bollinger Band to below the middle band. This strong bearish movement is marked by several consecutive bearish candles, with occasional bullish pullbacks. Over the last 10 candles, there has been a mixture of both bullish and bearish activity, with four bullish candles suggesting some recovery attempts, although the overall momentum remains bearish. The most recent candle is bullish, indicating a potential short-term upward correction within the ongoing downtrend.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands have widened significantly, indicating heightened volatility. EUR USD has moved from the upper half of the bands to the lower, and the price is now fluctuating between the lower band and the middle line. This setup often suggests a strong bearish trend with possible brief upward corrections.
MACD (Moving Average Convergence Divergence): The MACD histogram is negative, reflecting bearish momentum, though it shows a slight reduction in downward momentum. This could indicate that the selling pressure is weakening, potentially leading to a consolidation or minor upward movement in the near term.
Parabolic SAR: The Parabolic SAR dots are positioned above the EURUSD candles, indicating a bearish trend. This setup confirms ongoing downward momentum, with a potential reversal only if the dots shift below the candles.
%R (Williams %R): The %R indicator is in the oversold region, reflecting strong bearish sentiment but also indicating a potential for an upward correction. This aligns with the recent bullish candles, suggesting that the market might experience a short-term relief rally.

Support and Resistance:
Support: Immediate support is found around 1.0720, aligning with the 23.6% Fibonacci retracement level, and further support lies near 1.0660.
Resistance: The nearest resistance level is around 1.0780, close to the 38.2% Fibonacci level, with stronger resistance near the 1.0850 area.

Conclusion and Consideration:
The EURUSD pair on the H4 chart shows a primarily bearish outlook, influenced by recent political developments in the US and upcoming economic data releases. The indicators suggest that while bearish pressure remains dominant, there may be short-term opportunities for an upward correction, particularly as the %R is in oversold territory and the MACD’s bearish momentum is easing. Traders should closely monitor upcoming Eurozone and US data for any surprises that might shift the pair’s trajectory. Given the current conditions, cautious positioning with attention to resistance levels is advisable for those looking to trade within this bearish trend.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11.07.2024

USDCAD H4 Technical and Fundamental Analysis for 11.08.2024 (https://fxglory.com/2024/11/08/usdcad-h4-technical-and-fundamental-analysis-for-11-08-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD forex trading pair reflects the economic interplay between the United States and Canada, and its news analysis today is influenced by factors like interest rate policies, employment figures, and geopolitical events. Upcoming U.S. data from the University of Michigan on consumer confidence and inflation expectations could impact the USD, as consumer sentiment often leads to shifts in spending behavior, which in turn affects economic activity. In Canada, Bank of Canada (BOC) Deputy Governor Toni Gravelle’s participation in a European Central Bank panel and recent Canadian employment and unemployment data will also be key factors. Hawkish remarks from Gravelle could support the CAD, while employment and unemployment data offer insights into Canada’s economic strength. These signals are essential for traders in analyzing the USD/CAD’s fundamental outlook today.

Price Action:
The USD/CAD H4 candle chart has recently displayed the pair’s bearish price action, with the price moving lower and breaking below recent support levels. The movement below the Ichimoku cloud indicates a potential bearish sentiment in the market, with lower highs and lower lows suggesting downward pressure. Recent candles also show rejection at key resistance areas, reinforcing the downtrend. USDCAD’s Price action indicates selling interest near resistance and suggests further downside if bearish momentum continues.

Key Technical Indicators:
Ichimoku Cloud: The pair is trading below the Ichimoku Cloud, a bearish signal indicating a potential continuation of the downtrend. The cloud itself is slightly angled down, reinforcing the pair’s bearish outlook as long as the price remains below it.
RSI (Relative Strength Index): The RSI is around 41, indicating bearish momentum but not yet in the oversold territory. This suggests that there may still be room for further downside before reaching an exhaustion point. If the RSI drops closer to 30, it could signal a potential reversal or consolidation.

Support and Resistance:
Support Levels: Immediate support is seen at 1.3858, with stronger support at 1.3822. If the price breaks below these levels, it may open the path toward further downside movement.
Resistance Levels: Resistance is observed at 1.3889, followed by the Ichimoku cloud boundary. A break above these resistance levels could signal a shift in momentum, though current indicators favor a bearish outlook.

Conclusion and Consideration:
The USD/CAD forecast today shows bearish signals on its H4 chart as it trades below the Ichimoku cloud and with RSI maintaining a lower reading. Market participants should consider potential CAD strength if the Bank of Canada maintains a hawkish stance and if Canadian employment data supports economic resilience. Conversely, U.S. data on consumer confidence and inflation could influence the USD, with any surprising positivity potentially leading to a pullback in the pair. Traders should exercise caution around key support and resistance levels and use stop-loss orders to manage risk, as market sentiment can shift with upcoming economic releases.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11.08.2024

NZDUSD H4 Daily Technical and Fundamental Analysis for 11.11.2024 (https://fxglory.com/2024/11/11/nzdusd-h4-daily-technical-and-fundamental-analysis-for-11-11-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The NZD/USD pair reflects the exchange rate between the New Zealand dollar (NZD) and the US dollar (USD), a popular pair for traders following both economies. Today, USD liquidity is expected to be low due to the Veterans Day bank holiday in the United States. Such low liquidity may result in unpredictable volatility, as the market becomes more prone to speculative activity. Meanwhile, the New Zealand dollar faces potential shifts with the Reserve Bank of New Zealand's release of business inflation expectations, an important metric that gives insight into economic sentiment. If the expectations surpass forecasts, it could strengthen the NZD, as higher inflation expectations often lead to an anticipation of rate hikes. Traders should keep an eye on this release, as it can impact market sentiment and trigger NZD movement against the USD.

Price Action:
In the H4 timeframe, the NZD/USD is clearly in a downtrend, moving consistently below major moving averages. The price remains under pressure with lower highs and lower lows, confirming the bearish structure. Recently, the price has been consolidating near the 0.5900 level, reflecting seller dominance. However, minor bullish pullbacks have been observed, but each attempt to move higher has faced resistance. The bears maintain control, and with upcoming low liquidity in the USD, NZD/USD might experience temporary consolidation before the next directional move.

Key Technical Indicators:
Ichimoku Cloud: The Ichimoku Cloud shows a bearish signal, with the price trading well below the cloud. The Senkou Span A and Senkou Span B lines have formed a resistance area above the current price, reinforcing the bearish trend. The Tenkan-sen and Kijun-sen lines are also positioned above the price, signaling ongoing downward momentum.
Parabolic SAR: The Parabolic SAR dots are aligned above the candles, adding confirmation to the prevailing downtrend. The position of the SAR dots suggests that the selling pressure is strong, and any bullish attempts are likely to meet resistance.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, and the histogram bars are in the negative territory, showing declining momentum. The bearish crossover that occurred earlier indicates sustained selling pressure, with no clear signs of a reversal yet.
Stochastic Oscillator: The Stochastic oscillator is hovering near the oversold zone, suggesting that the price might be nearing a temporary bottom. However, it has not shown a clear crossover, which would confirm a bullish reversal. Therefore, while oversold conditions may lead to minor pullbacks, the broader trend remains bearish.

Support and Resistance:
Support: The nearest support level is 0.5900, which is a psychological level and aligns with recent price lows. A break below this level could open the path toward the 0.5850 area.
Resistance: immediate resistance is seen at the 0.6040 level, near the 23.6% Fibonacci retracement. The next resistance level lies around 0.6140, coinciding with the 38.2% Fibonacci retracement, where bearish momentum could intensify.

Conclusion and Consideration:
The NZD/USD analysis on the H4 chart suggests that the pair is entrenched in a bearish trend, with no strong indications of a reversal. The technical indicators, including the Ichimoku Cloud, Parabolic SAR, MACD, and Stochastic, all point towards sustained bearish pressure. However, given the oversold reading on the Stochastic oscillator and the low liquidity due to the US holiday, short-term consolidation or minor pullbacks are possible. Traders should exercise caution and closely monitor key support and resistance levels. Given the upcoming data release from the Reserve Bank of New Zealand, a stronger-than-expected inflation outlook could offer temporary support to the NZD, while a weaker outcome might reinforce the downtrend.

Disclaimer: The analysis provided for NZD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on NZDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11. 11.2024

EURNZD H4 Daily Technical and Fundamental Analysis for 18.11.2024 (https://fxglory.com/2024/11/18/eurnzd-h4-daily-technical-and-fundamental-analysis-for-18-11-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The EURNZD currency pair, reflecting the Euro (EUR) against the New Zealand Dollar (NZD), is influenced by contrasting central bank policies and economic developments. For the Euro, traders await ECB President Christine Lagarde's upcoming speech, which may provide hints about inflation handling and potential policy adjustments. On the NZD side, cautious optimism prevails due to New Zealand's steady economic performance, although the RBNZ remains wary of external global risks. Combined, these factors keep EUR/NZD in a sensitive position, with market participants awaiting new fundamental drivers to determine the pair's direction.

Price Action
EURNZD shows short-term bullish momentum, with the last four candles indicating an upward movement within a broader bearish trend. The pair is trading between the 0% and 23.6% Fibonacci retracement levels, with the latter acting as a resistance zone. A breakout above this level could extend the recovery, while a rejection may lead to renewed bearish pressure toward support levels.

Key Technical Indicators
Ichimoku Cloud: The price remains below the Ichimoku Cloud, confirming the overall bearish sentiment. However, the narrowing Tenkan-sen (red line) and Kijun-sen (blue line) suggest growing bullish momentum in the short term. The cloud itself acts as a strong resistance above the current price levels.
MACD: The MACD is showing signs of a bullish crossover as the MACD line approaches the signal line, with a shrinking bearish histogram. This indicates weakening downward momentum, signaling a potential shift toward bullish sentiment.
Stochastic Oscillator: The Stochastic Oscillator, now exiting oversold territory near 31, signals potential for further upward movement. However, traders should watch for a slowdown as it approaches neutral or overbought levels.
Parabolic SAR: The Parabolic SAR dots are currently positioned above the candles, indicating bearish momentum in the broader trend. This aligns with the overall bearish sentiment, signaling potential resistance to further upside unless a breakout occurs.

Support and Resistance Levels
Support: Immediate support is at 1.7935, the 0% Fibonacci retracement level, which has been a strong barrier against further downside.
Resistance: Key resistance is at 1.8025, the 23.6% Fibonacci retracement level, where recent bullish attempts have faced rejection.

Conclusion and Consideration
EURNZD is displaying short-term bullish momentum, but the broader bearish trend remains intact. A sustained break above the 23.6% Fibonacci retracement level would strengthen the case for a continued bullish recovery toward 1.8100. Conversely, a failure to maintain upward momentum could lead to a drop back to 1.7935 or lower. Traders should monitor key technical levels and upcoming fundamental events, particularly speeches from ECB officials, for directional cues.

Disclaimer: The analysis provided for EUR/NZD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURNZD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11.18.2024

USDCAD H4 Technical and Fundamental Analysis for 11.19.2024 (https://fxglory.com/2024/11/19/usdcad-h4-technical-and-fundamental-analysis-for-11-19-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDCAD pair faces mixed fundamental influences, with Canadian inflation data showing slight improvement (CPI m/m at 0.3%) but subdued core inflation pressures, potentially prompting the Bank of Canada to maintain a cautious policy stance amid growth concerns. In contrast, resilient U.S. economic data, such as steady building permits at 1.44 million, supports the Federal Reserve's hawkish approach, widening interest rate differentials in favor of the U.S. Dollar. Diverging monetary policies and stronger oil prices add complexity, as oil strength supports the Canadian Dollar. These factors drive upward pressure on USDCAD, keeping fundamental and technical analysis closely aligned.

Price Action:
On the H4 timeframe, USDCAD remains in an upward trajectory, but current price action is showing some weakness. The pair has been moving below the midline of the Bollinger Bands, indicating bearish pressure in the near term. The dynamic trendline support, shown in the image, is crucial for maintaining this bullish structure; however, if this trendline is breached, further downside is highly likely. Resistance levels at 1.40723, 1.41125, and 1.42000 are expected to cap any short-term bullish rallies. Conversely, support levels are found at 1.39975, 1.39390, and 1.39125, where buyers may look to defend against deeper losses.

Key Technical Indicators:
Bollinger Bands: The price is trading below the middle band, indicating bearish sentiment. The lower Bollinger band is expanding, suggesting increased volatility and a possible continuation of the downside if the trendline support is lost.
Stochastic Oscillator: The stochastic indicator is currently in oversold territory, suggesting that the downside momentum may be overextended, and a potential short-term rebound could be on the cards. However, a confirmed break below the dynamic support could negate this possibility and lead to further declines.

Support and Resistance Levels:
Support: Immediate support lies at 1.39975, with further support levels at 1.39390 and 1.39125. A break below these levels would indicate a stronger bearish sentiment, with potential for further downside.
Resistance: Resistance is observed at 1.40723, 1.41125, and 1.42000. If the price can break and hold above these levels, it would signal a resumption of the bullish trend.

Conclusion and Consideration:
The USDCAD pair is showing bearish momentum on the H4 timeframe, trading below the middle Bollinger Band, with stochastic in oversold territory. A break below the dynamic trendline support could trigger further declines toward 1.39390 and 1.39125, while a move above 1.40723 and 1.41125 is needed for a bullish recovery. Traders should watch key economic releases from both Canada and the U.S., as improving Canadian CPI data or unexpected hawkishness from the Bank of Canada could support the CAD, while strong U.S. data may reinforce bearish pressure. Monitor support and resistance levels for breakout or reversal opportunities.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11.19.2024

EURGBP H4 Technical and Fundamental Analysis for 11.20.2024 (https://fxglory.com/2024/11/20/eurgbp-h4-technical-and-fundamental-analysis-for-11-20-2024/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
For today’s EUR/GBP Fundamental analysis, we look at the balance between the economic performance of the Eurozone and the United Kingdom. GBP-focused traders are eyeing inflation data releases, including the Consumer Price Index (CPI), Producer Price Index (PPI), and Retail Price Index (RPI), which provide insights into price stability and economic health. Furthermore, BOE Deputy Governor David Ramsden's upcoming speech is expected to shed light on the central bank's monetary policy trajectory. On the Eurozone side, ECB President Christine Lagarde’s speech on financial stability tomorrow could introduce market volatility, as traders look for hints on interest rate direction. These events will play a significant role in shaping the near-term news forecast of EUR/GBP.

Price Action:
The EUR/GBP H4 chart shows the pair’s bullish trend within a rising channel, with higher highs and higher lows dominating the structure. The pair is currently consolidating near a key resistance zone at 0.8370, indicating indecision before a potential breakout. The Ichimoku cloud offers dynamic support, and price action remains above the Kumo, suggesting continued bullish momentum. However, rejection at the current resistance could trigger a short-term correction to retest lower support levels.

Key Technical Indicators:
Ichimoku Cloud: The price is currently trading above the Ichimoku Cloud, signaling a bullish sentiment in EUR/GBP. The cloud’s future projection slopes upward, indicating the potential for continued upward momentum. However, the pair’s proximity to resistance suggests a need for confirmation before further bullish expansion.
MACD: The MACD histogram is positive, but declining, reflecting slowing bullish momentum. The MACD line is still above the signal line, though a potential bearish crossover could materialize if downward momentum continues.
RSI: The RSI is currently at 56, showing moderate bullish strength. A move above 60 would confirm strong buying momentum, while a drop below 50 could indicate a shift to bearish sentiment.

Support and Resistance:
Support Levels: Immediate support is at 0.8325, where the top of the Ichimoku Cloud provides a cushion. A deeper support is seen at 0.8300, near the lower boundary of the rising channel. A breakdown below these levels would indicate increasing bearish pressure.
Resistance Levels: Immediate resistance lies at 0.8370, with a stronger barrier at 0.8400, aligning with the upper boundary of the rising channel. A breakout above these levels could signal further bullish continuation.

Conclusion and Consideration:
The EUR/GBP H4 analysis reflects a bullish bias within a rising channel, supported by strong technical indicators. However, the pair is nearing significant resistance at 0.8370, which aligns with upper-channel resistance. A breakout above this level could see the pair test 0.8400, while a rejection might lead to a corrective pullback towards 0.8325. Traders should closely monitor today’s UK inflation data and upcoming speeches by BOE and ECB officials, as they could provide critical catalysts for the pair’s price movement.

Disclaimer: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions.

FXGlory
11.20.2024

NZDUSD Daily Technical and Fundamental Analysis for 11.21.2024 (https://fxglory.com/2024/11/21/nzdusd-daily-technical-and-fundamental-analysis-for-11-21-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The NZDUSD currency pair reflects the strength of the New Zealand Dollar (NZD) against the US Dollar (USD). Key US economic events today include speeches from several Federal Reserve officials, notably Susan Collins and Beth Hammack, which could provide market-moving insights regarding monetary policy. Initial jobless claims data and the Philly Fed Manufacturing Index will also be closely watched for indications of labor market health and manufacturing activity in the US, which may influence USD volatility. Meanwhile, for the NZD, the Reserve Bank of New Zealand is set to release credit card spending data, a measure of consumer confidence and spending habits. Hawkish Fed commentary could strengthen the USD, while positive NZ consumer data might support the NZD.

Price Action
The NZD-USD pair on the H4 chart is currently trading below the 0.5900 level. After a bearish trend dominated earlier sessions, the pair is showing signs of recovery, moving toward the 23.6% Fibonacci retracement level. However, the last few candles suggest hesitation, with the price attempting to break through the middle Bollinger Band, reflecting a battle between bulls and bears. Traders should closely monitor whether the pair consolidates near the 23.6% Fibonacci level or reverses lower.

Key Technical Indicators
Parabolic SAR: The last four Parabolic SAR dots are above the price candles, signaling a continuation of bearish momentum. However, this may shift if the price can consolidate above the 23.6% Fibonacci level.
Bollinger Bands: The price is moving from the lower half of the Bollinger Bands back toward the middle band but has not decisively broken above it. This indicates indecision in the market, with a possible range-bound movement.
Stochastic Oscillator: The Stochastic is near the oversold level (currently at 18.23), suggesting a potential reversal to the upside. However, any breakout would depend on further confirmation from price action.
MACD (Moving Average Convergence Divergence): The MACD histogram shows diminishing bearish momentum, though the MACD line remains below the signal line. A potential crossover could indicate a shift to bullish sentiment, so traders should watch for further developments.

Support and Resistance
Support Levels: The primary support for NZD/USD is at 0.5860, which marks the recent low and serves as a psychological level, while 0.5820 represents a historical support zone with notable buying interest.
Resistance Levels: Resistance is positioned at 0.5905, aligning with the middle Bollinger Band as a minor hurdle, and 0.5960, corresponding to the 23.6% Fibonacci retracement, serving as a key target for bullish advances.

Conclusion and Consideration
The NZD USD pair on the H4 chart exhibits bearish undertones, though a potential reversal is indicated by oversold stochastic levels and weakening bearish momentum on the MACD. Traders should watch for a sustained break above the middle Bollinger Band (near 0.5900) as an early signal of bullish momentum. Upcoming speeches from Federal Reserve officials and US jobless claims data could drive significant volatility in the USD, while NZD traders will monitor credit card spending data for domestic cues.

Disclaimer: The analysis provided for NZD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on NZDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11.21.2024

EURUSD H4 Technical and Fundamental Analysis for 11.22.2024 (https://fxglory.com/2024/11/22/eurusd-h4-technical-and-fundamental-analysis-for-11-22-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD news analysis today remains highly sensitive to macroeconomic developments and monetary policies. Today’s fundamental signals focus on key Eurozone PMI data for both manufacturing and services sectors. The Flash PMI, which is a leading indicator of economic health, is expected to signal whether the Eurozone economy remains in contraction territory or shows signs of recovery. Meanwhile, for the US, the release of PMI and University of Michigan sentiment data could provide insights into the strength of the American economy. Additionally, comments from Federal Reserve officials may hint at future monetary policy direction, further influencing USD movements. As inflationary pressures persist in both regions, traders remain cautious about potential volatility in the EUR/USD forecast today.

Price Action:
The EUR/USD H4 candle chart exhibits a clear bearish structure, characterized by lower highs and lower lows. The pair has recently broken below key support levels, indicating sustained selling pressure. The recent candles show a rejection near resistance, with bearish momentum driving the pair toward new lows. EURUSD’s Price action suggests that sellers are in control, and the trend remains to the downside unless buyers reclaim significant levels.

Key Technical Indicators:
Stochastic RSI: The Stochastic RSI is currently at 18.78, deep in the oversold zone. This indicator further reinforces the possibility of a minor pullback, although the overall bearish sentiment remains intact.
Parabolic SAR: The Parabolic SAR dots are consistently above the price, signaling a strong bearish trend. This indicates sustained downward momentum, with no signs of reversal yet.
RSI (Relative Strength Index): The RSI is at 31.82, approaching oversold territory. While this suggests bearish dominance, it also hints at a possible short-term correction or consolidation before continuing downward.

Support and Resistance:
Support Levels: 1.0465 (recent low) serves as the immediate support level, while 1.0425 is the next key level, acting as a strong psychological and historical support zone.
Resistance Levels: 1.0520 is the nearest resistance, which was previously a support level now turned resistance. Further above, 1.0585 marks a critical level to watch, as it represents the recent swing high and could act as a significant barrier for bullish attempts.

Conclusion and Consideration:
The EUR/USD outlook on its H4 chart is firmly entrenched in a bearish trend, as confirmed by price action and the pair’s technical outlook with indications from the Parabolic SAR, RSI, and Stochastic RSI. While oversold conditions on the RSI and Stochastic RSI suggest the potential for a short-term correction, the overall trend remains bearish. Traders should closely monitor upcoming economic data from both the Eurozone and the US, as these releases could influence short-term volatility and momentum. Risk management is crucial, with stop losses placed below support levels for buyers and above resistance levels for sellers.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11.22.2024

EURCAD Daily Technical and Fundamental Analysis for 11.25.2024 (https://fxglory.com/2024/11/25/eurcad-daily-technical-and-fundamental-analysis-for-11-25-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EURCAD pair is influenced today by key news releases for both the Eurozone and Canada. For the Euro, significant market-moving events include the German ifo Business Climate Index, the Belgian National Bank Business Confidence survey, and a speech by ECB member Joachim Nagel. The ifo survey, being a leading economic health indicator, is expected to shape sentiment toward Eurozone growth, while Nagel’s remarks could provide insight into future ECB monetary policy directions. Meanwhile, for Canada, quarterly corporate earnings data is scheduled. Positive results could support CAD by indicating improved business conditions. This fundamental backdrop sets the stage for a potentially volatile trading session, with traders looking for signals from economic indicators and central bank rhetoric.

Price Action:
On the H4 timeframe, EURCAD is in a bearish trend, with the pair posting lower highs and lower lows. Recent price action has demonstrated a clear breakdown below the mid-line of the Bollinger Bands, confirming downward momentum. The latest candles are forming near the lower Bollinger Band, hinting at oversold conditions. However, the lack of strong reversal signals suggests the bearish trend may persist, albeit with potential retracements.

Key Technical Indicators:
Bollinger Bands: The price is trading in the lower half of the Bollinger Bands, with recent candles hugging the lower band. This confirms strong bearish momentum but also suggests the potential for a pullback. Narrowing bands indicate decreasing volatility, often preceding a breakout or trend continuation.
Stochastic Oscillator: The Stochastic Oscillator has just exited the oversold zone (crossing above 20), signaling a possible corrective bounce in the near term. However, the overall trend remains bearish, and the signal lacks strong upward momentum.
MACD (Moving Average Convergence Divergence): The MACD line remains below the signal line, with a declining histogram. This bearish setup indicates sustained selling pressure, with no immediate signs of a reversal.
Parabolic SAR: The Parabolic SAR dots are positioned above the candles, signaling a continuation of the bearish trend. Recent adjustments in the SAR position reaffirm the downward momentum, though traders should watch for any flips to signal potential trend shifts.

Support and Resistance:
Support: The 1.4492 level serves as a key support, representing previous lows. A breach of this level could intensify the ongoing bearish momentum.
Resistance: The 1.4722 level stands as the closest resistance, corresponding to the recent breakdown area and the mid-point of the Bollinger Bands. Any upward retracement is likely to encounter selling pressure around this level.

Conclusion and Consideration:
The EURCAD H4 chart reveals a strong bearish trend supported by technical indicators like Bollinger Bands, MACD, and Parabolic SAR. While the Stochastic Oscillator hints at a minor retracement, the overall sentiment remains bearish. Upcoming fundamental events, including the ifo survey and Canadian corporate earnings, could inject volatility, making the 1.4492 support level crucial for monitoring further price action. Traders should remain cautious, especially with potential reversals from oversold conditions, while closely observing fundamental triggers.

Disclaimer: The analysis provided for EUR/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11.25.2024

AUDUSD H4 Technical and Fundamental Analysis for 11.27.2024 (https://fxglory.com/2024/11/27/audusd-h4-technical-and-fundamental-analysis-for-11-27-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUD/USD news analysis today suggests the pair is under pressure as it navigates through mixed fundamental signals from both the Australian and U.S. economies. On the Australian side, the recent focus has been on inflation and construction data. The Australian Bureau of Statistics has highlighted that the next Consumer Price Index (CPI) release, due in early January, will be critical in shaping market expectations for the Reserve Bank of Australia's (RBA) monetary policy. Rising inflation could prompt a more hawkish stance from the RBA, while subdued price growth may maintain the current dovish bias. Additionally, the construction activity data, which plays a vital role in GDP and employment, points to broader economic health and spending trends. On the U.S. front, the release of GDP second estimates, durable goods orders, and jobless claims today could further strengthen the U.S. Dollar if the data beats expectations, highlighting the economic resilience of the U.S. economy. This creates a complex backdrop, where near-term AUD/USD price action will likely be driven by U.S. economic updates, while Australian fundamentals will continue to shape the pair’s longer-term forecasts.

Price Action:
On the AUD/USD H4 candle chart, its price is trading in a bearish trend, forming lower highs and lower lows. Recent price action shows a retracement toward the middle Bollinger Band, suggesting a temporary pause in the downtrend. The pair continues to test support near 0.6440, a critical level that has held on several occasions. A decisive break below this level could accelerate further downside momentum, while a rebound might target resistance around 0.6500.

Key Technical Indicators:
Bollinger Bands: The price is oscillating near the lower Bollinger Band, signaling AUDUSD’s strong bearish bias. A touch of the middle band could act as a dynamic resistance, while a breach of the lower band might indicate further downside pressure.
Stochastic Oscillator: Currently at 37.63, the Stochastic Oscillator is moving toward oversold territory. This indicates that the bearish momentum may slow down, but there’s no strong signal for a reversal yet.
MACD (Moving Average Convergence Divergence): The MACD histogram is in negative territory, and the MACD line is below the signal line, confirming the bearish trend. However, the histogram's narrowing suggests weakening momentum.

Support and Resistance:
Support Levels: Immediate support is located at 0.6440, followed by a deeper level at 0.6400 if the bearish trend intensifies.
Resistance Levels: The first resistance lies near 0.6500 (middle Bollinger Band), with stronger resistance at 0.6550.

Conclusion and Consideration:
The AUD/USD outlook today on its H4 chart remains bearish, with technical indicators and price action reinforcing the downward momentum. While the Stochastic Oscillator suggests that the pair may soon approach oversold levels, the MACD and Bollinger Bands point to further potential downside. Traders should watch for a break below the 0.6440 support or a rebound toward 0.6500 for a clearer direction. The pair’s Fundamental signals, particularly from the U.S., are likely to dictate short-term movements. Risk management strategies, such as stop-losses, are essential when trading this volatile pair.

Disclaimer: The analysis provided for AUD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11.27.2024

USDCAD H4 Technical and Fundamental Analysis for 11.28.2024 (https://fxglory.com/wp-content/uploads/2024/11/USDCAD_H4_Daily_Technical_and_Fundamentan_Analysis_for_11_28_2024-1024x524.webp)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD pair is experiencing a period of low liquidity as US banks are closed today in observance of Thanksgiving Day. This can lead to irregular volatility and decreased market activity, making price movements more susceptible to speculation. While the USD typically shows weaker momentum due to the bank holiday, the CAD may be influenced by Canada's economic data. Today's CAD news release focuses on the trade balance, where a larger-than-expected surplus could strengthen the Canadian dollar, while a lower-than-expected figure could provide support for the USD. The reduced trading volume could also increase the impact of any unexpected news.

Price Action:
The USDCAD pair had been in a bullish trend for the last several sessions, but recent price action suggests a shift towards bearishness. The price is currently trading between the 61.8% and 50% Fibonacci retracement levels, indicating a retracement after the recent bullish surge. The last few candles have been red, signaling a decrease in buying momentum and a potential shift towards a short-term bearish trend. Additionally, volume has been decreasing, which further supports the possibility of a consolidation or reversal in the near term.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR dots are now placed above the candles, signaling a shift from a bullish to a bearish trend. This suggests that the upward momentum has been exhausted and that the price may be heading lower in the short term.
Bollinger Bands: The Bollinger Bands have recently expanded, indicating a period of increased volatility. The price has moved from the upper band to the middle band and even dipped below it in recent candles, which is typically a bearish sign. The price action suggests that the bullish momentum has weakened, and there is a growing chance of a further pullback towards the lower band.
RSI (Relative Strength Index): The RSI is currently below the overbought level of 70 but has been declining, indicating a loss of bullish momentum. With the RSI approaching neutral territory (around 50), the market sentiment appears to be shifting towards a more neutral or even bearish bias in the near term.
Volume: Volume has been decreasing, which suggests weakening market participation and a lack of conviction in the current trend. Lower volume typically indicates that a trend may be losing momentum and could be due for a reversal or consolidation.

Support and Resistance:
Support: Immediate support is found around the 1.3360 level, aligning with the 50% Fibonacci retracement and recent price consolidation. A break below this level could open the door to further downside towards 1.3280, the next significant support level.
Resistance: The nearest resistance level is at 1.3450, which corresponds to the 61.8% Fibonacci retracement level. If the price manages to push above this resistance, it could retest the recent highs near 1.3500.

Conclusion and Consideration:
The technical analysis of USD/CAD on the H4 timeframe shows signs of a potential bearish reversal after a sustained bullish trend. The Parabolic SAR and RSI indicate weakening bullish momentum, while the Bollinger Bands suggest a shift from volatility to a more neutral price action. With the price currently consolidating between the 50% and 61.8% Fibonacci levels, a breakout either above 1.3450 or below 1.3360 will likely determine the next significant move. Traders should be cautious of irregular volatility due to the low liquidity caused by the US bank holiday and monitor the CAD-related news for any potential market-moving data. A stronger-than-expected Canadian trade balance could lead to further downside for USD CAD.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11.28.2024

EURGBP H4 Technical and Fundamental Analysis for 11.29.2024 (https://fxglory.com/2024/11/29/eurgbp-h4-technical-and-fundamental-analysis-for-11-29-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/GBP fundamental forecast today is influenced by economic indicators from both the Eurozone and the UK. Recently, the Eurozone has seen mixed economic data, with key indicators such as retail sales and consumer price inflation showing moderate growth. For the British pound, ongoing concerns about inflation and the Bank of England's monetary policy decisions remain central to its performance. Market participants are keenly watching for any hawkish signals from the Bank of England regarding interest rate hikes, which could further support the GBP. Additionally, geopolitical factors and external trade relations within the EU and UK continue to have a notable impact on the currency pair's news outlook.

Price Action:
On the EUR/GBP 4-hour (H4) chart, the market appears to be in a consolidation phase, with the price moving between a defined support and resistance range. Recently, the HER/GBP price action tested the support level at 0.8740 but has managed to recover slightly, showing a small upward bias. A series of lower highs and higher lows suggest indecision in the market, and traders are waiting for a breakout in either direction. The upcoming data releases and speeches from key central bank figures, particularly from the European Central Bank (ECB) and Bank of England, could provide the necessary catalysts for a decisive move.

Key Technical Indicators:
Ichimoku Cloud: The price is currently trading near the middle of the Ichimoku cloud, indicating a neutral trend. However, the cloud’s future projection suggests a potential EURGBP bearish bias if the price falls below the lower cloud boundary at 0.8750. If the price stays above the cloud, it could indicate a continuation of the sideways consolidation, with a possible bullish breakout if the price breaks above 0.8800.
MACD: The MACD line is slightly above the signal line, indicating mild bullish momentum. However, the histogram is close to zero, suggesting that momentum is weakening. A clear bullish crossover could be a signal for a potential rally, but traders should be cautious of any bearish crossovers that could signal a reversal.
Volume: Trading volume has been decreasing, indicating lower participation in the market. This is typical during periods of consolidation. An increase in volume could confirm a breakout or breakdown, providing traders with more confidence in the direction of the trend.

Support and Resistance:
Support Levels: The key support level is at 0.8740, which has held up in recent sessions. A breakdown below this level could expose further support at 0.8680.
Resistance Levels: The immediate resistance is at 0.8800, with further resistance seen around the 0.8850 region. A breakout above this level could open the door for a more significant move toward 0.8900.

Conclusion and Consideration:
The EUR/GBP H4 outlook shows the pair is in a consolidation phase, with key support and resistance levels defining the pair’s price action. Traders should closely monitor upcoming economic data releases and central bank speeches for potential clues about future monetary policy direction. A breakout above 0.8800 or below 0.8740 could set the tone for the next move. While the MACD is showing some bullish momentum, the weakening volume suggests that a strong move may not materialize unless accompanied by a significant news event. Therefore, risk management remains crucial, and traders should be prepared for potential volatility.

Disclaimer: The analysis provided for EUR/GBP is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURGBP. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
11.29.2024

EURUSD H4 Technical and Fundamental Daily Analysis for 12.02.2024 (https://fxglory.com/2024/12/02/eurusd-h4-technical-and-fundamental-daily-analysis-for-12-02-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EURUSD pair, reflecting the exchange rate between the Euro and the US Dollar, remains a focus for traders due to upcoming high-impact economic data from both regions. For the Eurozone, recent PMI data reflects contraction in the manufacturing sector, raising concerns about economic stagnation. Unemployment reports from Eurostat provide mixed signals, highlighting limited growth in labor market conditions. For the US Dollar, attention shifts to today’s ISM Manufacturing PMI and Construction Spending data. If these reports exceed expectations, the USD could gain strength, driven by positive economic momentum in the US manufacturing sector.
With divergent economic trajectories, the EURUSD is likely to face significant volatility as traders evaluate the implications of PMI data for future monetary policies by the European Central Bank (ECB) and the Federal Reserve. A stronger-than-expected PMI release from the US could push the EURUSD lower, while weak data could favor the Euro.

Price Action:
The EURUSD H4 chart indicates a moderately bullish trend within a rising channel. Recent candles show consolidation near the middle Bollinger Band, suggesting a slowdown in bullish momentum. Price action has remained within the upper half of the Bollinger Bands for most of the current trend, confirming positive sentiment. However, the last two candles have shown bearish pressure, with the price nearing the middle band, signaling possible short-term consolidation or retracement.

Key Technical Indicators:
Bollinger Bands: The price has been trading in the upper half of the Bollinger Bands for the past several sessions, reflecting bullish momentum. The recent candles, however, are near the middle band, indicating reduced momentum and potential consolidation. A breakdown below the middle band could lead to further downside toward the lower band.
RSI (Relative Strength Index): The RSI is currently at 47.23, signaling neutral momentum. The indicator is neither overbought nor oversold, suggesting that the EURUSD could move in either direction depending on market sentiment and upcoming data.
Volumes: Volume analysis shows a decline in activity during the recent consolidation phase, reflecting uncertainty in market sentiment. A spike in volume could indicate a breakout in either direction.
Parabolic SAR: Parabolic SAR dots are currently positioned above the price, reinforcing bearish pressure in the short term. A reversal in these dots below the price would signal a renewed bullish trend.

Support and Resistance Levels:
Support: Immediate support is located at 1.0520, aligning with the 23.6% Fibonacci retracement level and serving as a key psychological zone. If this level is breached, the next significant support could be lower, near the 1.0480 area.
Resistance: Intermediate resistance is at 1.0570, corresponding to the 38.2% Fibonacci retracement level, which has acted as a short-term ceiling. Key resistance lies at 1.0618, near the 50.0% Fibonacci level, representing a crucial barrier for further bullish momentum.

Conclusion and Consideration:
The EURUSD H4 analysis suggests that while the pair remains within an ascending channel, the recent price action indicates waning bullish momentum. Traders should watch for a potential breakdown below the middle Bollinger Band, which could lead to a test of the 23.6% Fibonacci support at 1.0520. On the other hand, a bullish breakout above 1.0570 could open the door for further gains toward 1.0618. Upcoming PMI and Construction Spending data will likely dictate near-term direction. Traders should approach with caution and adjust their strategies based on the evolving market environment.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.02.2024

USDCHF H4 Technical and Fundamental Analysis for 12.03.2024 (https://fxglory.com/wp-content/uploads/2024/12/USDCHFchart-H4-Techniacal-Analysis-12.03.2024-price-action--1024x524.webp)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CHF currency pair is set to experience significant movements today influenced by key economic indicators. The United States will release the JOLTS Job Openings at 3:00 PM, with expectations slightly higher at 7.49M compared to the previous 7.44M. An increase in job openings typically signals a strengthening labor market, potentially boosting the USD. Concurrently, Switzerland will publish its Consumer Price Index (CPI) at 7:30 AM, remaining steady at -0.1%. The unchanged CPI suggests stable inflationary pressures in Switzerland, which may support the Swiss Franc (CHF) if economic stability persists. Traders will closely watch these releases as they are critical for determining the future direction of the USDCHF pair in the H4 timeframe.

Price Action:
On the H4 chart, USDCHF shows a transition from a recent bearish phase to consolidation with a slight upward bias. The price is testing a resistance zone near 0.88625, while maintaining support levels within the Ichimoku Cloud. The candles indicate indecision, with lower wicks suggesting buying pressure and upper wicks highlighting resistance. This price action reflects a potential preparation for a breakout.

Key Technical Indicators:
Ichimoku Cloud: The Ichimoku Cloud shows mixed signals. The price is trading near the lower boundary of the cloud, suggesting weak bullish momentum. The Tenkan-sen (red line) is above the Kijun-sen (blue line), indicating a possible bullish continuation. However, the overall structure suggests caution as the price remains below the cloud's upper boundary, which could act as resistance.
MACD (Moving Average Convergence Divergence): The MACD shows a slight bullish bias. The MACD line has crossed above the signal line, and the histogram is printing small positive bars, signaling mild bullish momentum. However, the momentum is not strong, and traders should watch for potential shifts if the histogram weakens or reverses.
Volumes: The volume indicator reflects moderate buying interest, with green bars outpacing red in recent candles. However, the volume has not seen a significant spike, indicating that the current upward move lacks strong market conviction. An increase in volume near key levels would be a better confirmation of a breakout.

support and Resistance Levels:
Support: Immediate support is located at 0.88050, which aligns with the lower Ichimoku Cloud boundary and recent price lows. Additional support levels are found at 0.87925 and 0.87800, acting as key zones for potential rebounds if the price moves downward.
Resistance: The nearest resistance level is at 0.88625, coinciding with the top of the current consolidation range. Further resistance levels are identified at 0.88888, which is a key swing high, and 0.89567, marking a previous significant high.

Conclusion and Consideration:
The USDCHF pair on the H4 chart is at a critical juncture, with the price consolidating near resistance while supported by moderate bullish signals from technical indicators. The Ichimoku Cloud and MACD suggest a cautious bullish bias, while volume indicates limited momentum. Key economic data releases for USD and CHF today are likely to trigger significant moves, and traders should watch for a breakout above 0.88625 or a drop below 0.88050 to confirm the next trend. It is essential to monitor volume and indicator reactions near these levels for clearer signals.

Disclaimer: The analysis provided for USD/CHF is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCHF. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.03.2024

USDCAD H4 Technical and Fundamental Analysis for 12.06.2024 (https://fxglory.com/2024/12/06/usdcad-h4-technical-and-fundamental-analysis-for-12-06-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's USDCAD movements will likely be influenced by key employment data releases from both Canada and the United States. For the CAD, Statistics Canada will release employment change and unemployment rate figures. Strong job creation or a drop in unemployment may support the Canadian Dollar. On the USD side, the Non-Farm Payrolls (NFP) and Unemployment Rate data are scheduled, providing a significant gauge of the U.S. labor market. Better-than-expected NFP numbers could strengthen the USD, while dovish signals from FOMC speakers later in the day might moderate gains. Additionally, consumer sentiment data from the University of Michigan could impact USD sentiment depending on inflation expectations and confidence metrics.

Price Action:
The USD/CAD pair has maintained an overall bullish trend, although recent price movements show a correction phase, with only 3 out of the last 10 candles being bullish. Despite this, the price remains supported by an ascending trendline, as it has rebounded from the 38.2% Fibonacci retracement level. Recent candles suggest indecision, with price attempting to recover from the lower Bollinger Band towards the middle band, signaling possible consolidation or continuation of the upward trend.

Key Technical Indicators:
Bollinger Bands: The price is in the lower half of the Bollinger Bands, reflecting a correction within a bullish trend. The last three candles show a slight recovery from the lower band towards the middle band. Narrowing Bollinger Bands suggest that a breakout could occur soon, with traders watching for decisive movements above the middle band for confirmation of a bullish continuation.
Parabolic SAR: The Parabolic SAR dots are below the last three candles, signaling that the bulls may still have control despite the recent correction. If price breaks below the current ascending trendline, the Parabolic SAR may flip, confirming a bearish shift.
RSI (Relative Strength Index): The RSI is at 46.36, indicating a neutral to slightly bearish momentum. It reflects the recent correction phase but remains above oversold levels, suggesting there is room for the price to regain bullish momentum if buying pressure returns.
MACD (Moving Average Convergence Divergence): The MACD histogram shows decreasing bullish momentum, with the MACD line hovering just above the signal line. This indicates waning upward momentum and potential consolidation. A bearish crossover could confirm further downside pressure in the near term.

Support and Resistance Levels:
Support: The immediate support for USDCAD is at 1.4000, a critical psychological level that aligns closely with the 38.2% Fibonacci retracement. The next key support is at 1.3950, which corresponds to the lower boundary of the ascending trendline and a recent swing low.
Resistance: The first resistance is at 1.4085, positioned at the 50% Fibonacci retracement level and representing a recent high. Beyond this, 1.4140 acts as a significant resistance level, aligning with the 61.8% Fibonacci level and the upper Bollinger Band.

Conclusion and Consideration:
The USD CAD pair remains within a broader bullish trend but is currently undergoing a corrective phase. The price is testing critical support levels, including the ascending trendline and the 38.2% Fibonacci retracement. If these levels hold, the pair could resume its bullish momentum, targeting the 1.4085 and 1.4140 resistance levels. However, a breakdown below 1.3950 could signal a bearish reversal.
Fundamental events today, including Canadian employment data and U.S. Non-Farm Payrolls, will likely drive significant volatility in the pair. Traders should monitor the key technical levels mentioned above while keeping an eye on labor market data releases for directional cues.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.06.2024

EURGBP H4 Daily Technical and Fundamental Analysis for 12.09.2024 (https://fxglory.com/2024/12/09/eurgbp-h4-daily-technical-and-fundamental-analysis-for-12-09-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The EUR/GBP currency pair reflects the relationship between the Euro and the British Pound. Today, the Euro's movement is influenced by the Sentix Investor Confidence report, which is expected to indicate the economic outlook for the Eurozone. The ongoing Eurogroup meeting may provide additional clues regarding the region's financial stability and future policies, adding potential volatility to the Euro. For the Pound, the Bank of England's Deputy Governor, David Ramsden, will speak about UK financial stability, which traders are watching closely for any hawkish comments hinting at future monetary tightening. The outcome of these events could provide direction for the EUR/GBP pair, especially amidst a backdrop of mixed sentiment in both economies.

Price Action
On the EUR GBP H4 chart, the price remains in a slight downtrend, forming lower highs and lower lows within a descending channel. Over the last few sessions, the price attempted to break above the mid-level of the Bollinger Bands but failed, resuming its decline. Currently, it sits below the middle band, suggesting continued bearish pressure. However, the candles indicate reduced volatility as the price consolidates near the lower range of the descending channel, hinting at a possible breakout scenario soon.

Key Technical Indicators
Bollinger Bands: The Bollinger Bands have tightened, indicating reduced volatility. The price has mostly traded within the lower half of the Bands, recently attempting to break above the middle band but falling back below it. This suggests that the bearish momentum is not strong but remains in control.
RSI (Relative Strength Index): The RSI is at 44.36, indicating neutral to slightly bearish momentum. It is not in the oversold zone, meaning there is still room for further declines before a reversal can be anticipated.
MACD (Moving Average Convergence Divergence): The MACD histogram shows a slight increase in bearish momentum, with the MACD line below the signal line. This supports the continuation of the downtrend unless a bullish crossover occurs.

Support and Resistance
Support Levels: The immediate support level lies at 0.8270, coinciding with the lower boundary of the descending channel. A break below this level could lead to a move toward 0.8225.
Resistance Levels: The nearest resistance is at 0.8325 (23.6% Fibonacci level), followed by 0.8385 (38.2% Fibonacci level). A breakout above these levels would signal a potential reversal.

Conclusion and Consideration
The EUR/GBP pair remains under bearish pressure on the H4 timeframe, with the price trading within a descending channel. Key technical indicators such as Bollinger Bands, RSI, and MACD suggest further downside potential unless the price breaks above the middle band of the Bollinger Bands or resistance levels at 0.8325. Fundamental events today, including the Eurogroup meeting and the BoE Deputy Governor’s speech, may trigger significant volatility. Traders should closely monitor these events for potential breakout signals.

Disclaimer: The analysis provided for EUR/GBP is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURGBP. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.09.2024

AUDUSD H4 Technical and Fundamental Analysis for 12.10.2024 (https://fxglory.com/2024/12/10/audusd-h4-technical-and-fundamental-analysis-for-12-10-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUDUSD pair remains under scrutiny as traders await the Reserve Bank of Australia's (RBA) rate statement and the release of U.S. labor market data. The RBA is anticipated to maintain its cash rate at 4.35%, reinforcing a cautious monetary policy stance amidst global economic uncertainties. On the U.S. side, revised Nonfarm Productivity and Unit Labor Costs are projected to showcase a slight improvement in productivity and a moderation in labor costs. These mixed fundamental drivers could contribute to increased volatility in the AUDUSD exchange rate throughout the trading day.

Price Action:
The AUDUSD pair is currently trading within a well-defined bearish channel on the H4 timeframe, signaling ongoing downward pressure. Recent candles reflect rejection near the upper boundary of the channel, suggesting that sellers remain in control. Although the price attempted to rally, it was capped by resistance near 0.64735, highlighting the persistence of bearish momentum. The lower boundary of the channel continues to act as a dynamic support area.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI is currently hovering near the neutral 50 level, signaling a lack of clear momentum. However, its slight downward trajectory suggests a leaning towards bearish sentiment, particularly as it moves away from overbought levels. Traders should monitor RSI for further signs of weakening or a potential bounce.
MACD (Moving Average Convergence Divergence): The MACD histogram is in negative territory, with the MACD line below the signal line, indicating ongoing bearish momentum. The widening gap between these lines reinforces the current selling pressure.

Support and Resistance Levels:
Support: Immediate support is located at 0.64025, aligning with the lower boundary of the bearish channel and serving as a key area for potential rebounds. Additional support is found at 0.63820, marking a recent low that could attract buyers if the price continues to move downward.
Resistance: The nearest resistance level is at 0.64735, coinciding with the upper boundary of the bearish channel. A further resistance level is identified at 0.65270, which represents a more significant hurdle for bullish attempts and aligns with a prior swing high.

Conclusion and Consideration:
The AUDUSD pair on the H4 chart is displaying persistent bearish momentum within a descending channel. Technical indicators such as RSI and MACD are signaling a continuation of selling pressure, while upcoming economic data from both Australia and the U.S. could inject volatility into the pair. Traders should closely monitor support at 0.64025 and resistance at 0.64735 for potential breakout or bounce scenarios. Caution is advised due to the likelihood of market reactions to the RBA rate statement and U.S. labor data later today.

Disclaimer: The analysis provided for AUD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.10.2024

USDCAD H4 Technical and Fundamental Analysis for 12.11.2024 (https://fxglory.com/2024/12/11/usdcad-h4-technical-and-fundamental-analysis-for-12-11-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD news analysis is closely tied to economic developments in the United States and Canada, both of which are releasing important data today. In the US, the Bureau of Labor Statistics will release the Consumer Price Index (CPI) and Core CPI, which are critical for assessing inflation trends and Federal Reserve policy expectations. Stronger-than-expected CPI data could bolster the US Dollar as it reinforces the case for higher interest rates. Meanwhile, in Canada, traders are paying attention to the broader energy sector, as crude oil inventory reports often impact the Canadian Dollar, given its correlation with oil prices. Additionally, the market will focus on any signals from the Bank of Canada regarding future monetary policy adjustments, particularly in light of inflation and growth trends.

Price Action:
The USD/CAD H4 technical analysis today shows a steady uptrend, with price movement contained within an ascending channel. Recent USD/CAD bullish price action has seen the pair testing resistance near 1.4190. The pair continues to make higher highs and higher lows, suggesting the bullish momentum remains intact. However, as the price approaches resistance, signs of consolidation suggest potential hesitation among buyers at these levels.

Key Technical Indicators:
Bollinger Bands: USDCAD’s price is moving near the upper Bollinger Band, indicating strong bullish momentum. However, this positioning also suggests that the pair could face temporary overbought conditions and a potential pullback toward the midline of the bands.
MACD (Moving Average Convergence Divergence): The MACD histogram remains in positive territory, and the MACD line is above the signal line, signaling strong bullish momentum. The widening gap between the two lines confirms the continuation of the upward trend.
RSI: The RSI is at 62.66, indicating bullish conditions without being overbought. This suggests there is still room for further upside before the pair hits overbought territory, although caution is warranted near resistance levels.

Support and Resistance:
Support Levels: Immediate support is located at 1.4145, aligned with the ascending channel's lower boundary. A break below this level could see the pair target further support at 1.4070.
Resistance Levels: Key resistance lies at 1.4190. A successful breakout above this level could push the pair toward the psychological level of 1.4250.

Conclusion and Consideration:
The USD/CAD forecast today on its H4 chart remains firmly bullish, supported by rising momentum and strong technical indicators. Traders should monitor the price action around the 1.4190 resistance level, as a breakout or rejection here could determine the pair's next direction. Given the upcoming CPI data from the US and oil inventory reports influencing the CAD, heightened volatility is expected. Proper risk management, including stop losses, is essential, especially near key levels of support and resistance.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.11.2024

EURUSD H4 Technical and Fundamental Analysis for 12.12.2024 (https://fxglory.com/2024/12/12/eurusd-h4-technical-and-fundamental-analysis-for-12-12-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
Today, the EURUSD pair will be influenced by multiple economic releases from both the Eurozone and the United States. On the Eurozone side, the IT Quarterly Unemployment Rate and the ECB Main Refinancing Rate are scheduled for release. A lower-than-expected unemployment rate and a higher-than-expected interest rate would be positive for the Euro. On the US side, the Core PPI m/m, PPI m/m, and Unemployment Claims data will be released. Higher-than-expected inflation figures and lower-than-expected jobless claims would be positive for the US Dollar. Traders should closely monitor these releases as they could significantly impact the pair's price action.

Price Action
The EURUSD pair has been trading within a range in recent weeks, consolidating after a previous bullish trend. The current price action suggests a potential breakout in either direction, depending on the upcoming economic data and market sentiment. The pair is currently trading near the middle of its Bollinger Bands, indicating a period of low volatility.

Key Technical Indicators
Bollinger Bands: The narrowing Bollinger Bands suggest a period of low volatility, which could be followed by a significant price move.
RSI (Relative Strength Index): The RSI is currently at 42.89, below the oversold level of 30, indicating that the Euro is undervalued relative to the US Dollar. This could lead to a bullish correction in the short term.
Parabolic SAR: The Parabolic SAR dots are plotted above the candles, indicating a bearish trend. However, the recent flattening of the dots suggests a potential slowdown in the bearish momentum.
Force Index 13: The Force Index 13 is currently at -0.542020, indicating weak bearish momentum. A positive value would signal a shift in momentum to bullish.

Support and Resistance
Support: The immediate support level is located at 1.03315, followed by 1.03830.
Resistance: The nearest resistance level is at 1.04345, followed by 1.04991.

Conclusion and Considerations
The EURUSD pair is currently trading in a range, with potential for a breakout in either direction. The upcoming economic releases from both the Eurozone and the US will be crucial in determining the pair's future direction. Traders should monitor these releases closely and adjust their positions accordingly. It is important to note that the EURUSD pair can be highly volatile, and traders should use stop-loss orders to manage risk.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.12.2024

EURGBP H4 Technical and Fundamental Analysis for 12.13.2024 (https://fxglory.com/wp-content/uploads/2024/12/EURGBP_H4_Daily_Technical_and_Fundamentan_Analysis_for_12_13_2024--1024x524.webp)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/GBP fundamental analysis today is influenced by a variety of factors, including economic data releases from both the Eurozone and the UK. For the Euro, key economic indicators like GDP, industrial output, and inflation data (CPI) significantly impact the pair’s forecast today. Likewise, the UK’s data on consumer sentiment (GfK survey), GDP, and manufacturing outputs also play a crucial role in determining the currency’s strength. A stronger-than-expected economic performance in the Eurozone, along with weak growth indicators from the UK, may support the euro’s bullish momentum against the pound. On the other hand, if UK economic data surprises to the upside, this could help the GBP gain strength against the euro. Key upcoming data releases like the GfK Consumer Confidence index from the UK and industrial output data from the Eurozone should be closely watched by traders for potential market-moving developments.

Price Action:
On the EUR/GBP H4 chart, we can witness the pair’s mixed price action, having recently experienced consolidation within a defined range. Currently, the pair is testing resistance levels, but is struggling to break above the previous highs. This indecisive price movement suggests a possible continuation or reversal depending on which side of the range the EURGBP price breaks. The trend is neither distinctly bullish nor bearish, indicating a market waiting for further confirmation from both of the pair’s technical and fundamental factors before making a decisive move.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI is currently at 55, indicating neutral market conditions. This level suggests that the pair is neither overbought nor oversold, and there is a balanced market sentiment. With the RSI hovering around the mid-point, it indicates that the market could either continue its current range or potentially break out, depending on the strength of incoming data or price action. This neutral reading suggests that traders should watch for further EURGBP price movement to determine the next potential direction.
Parabolic SAR: The Parabolic SAR dots are currently positioned below the price, supporting the notion of an ongoing uptrend. However, the close proximity of the dots to the current price suggests that any price pullback could cause the SAR to flip, signaling a potential trend reversal.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, suggesting a bullish momentum in the short-term. However, the histogram shows a decrease in momentum, indicating that the buying pressure may be weakening, and a potential reversal could occur if the MACD line crosses below the signal line.

Support and Resistance:
Support Levels: The pair’s nearest support level is located around 0.8730, coinciding with the recent lows. A further drop would likely find support around the 0.8700 psychological level.
Resistance Levels: Immediate resistance is at 0.8785, the previous swing high. A break above this level could lead to a move toward the next resistance at 0.8800, followed by the 0.8850 zone.

Conclusion and Consideration:
The EUR/GBP outlook today on its H4 chart is currently facing resistance and exhibits a neutral-to-bullish sentiment. While the RSI and MACD suggest bullish potential, the price is struggling to break higher, indicating that market participants are waiting for a clear trigger. Traders should closely monitor key fundamental data, particularly from the UK and Eurozone, to gauge potential market reactions. A breakout above the 0.8785 resistance level would confirm a bullish continuation, whereas failure to break this level could lead to a pullback towards the support levels at 0.8730. Given the mixed signals, it’s crucial to use risk management strategies like stop losses to protect against unexpected market movements.

Disclaimer: The analysis provided for EUR/GBP is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURGBP. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.13.2024

GBPUSD H4 Technical and Fundamental Analysis for 12.16.2024 (https://fxglory.com/2024/12/15/gbpusd-h4-technical-and-fundamental-analysis-for-12-16-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The GBPUSD pair remains under pressure today as traders await significant economic updates from both the United States and the United Kingdom. For the USD, the New York Manufacturing Index and the Purchasing Managers' Index (PMI) reports for manufacturing and services sectors are key. A higher-than-expected PMI figure will indicate improving economic conditions, providing support for the USD. On the GBP side, the UK PMI data for both manufacturing and services sectors will determine sentiment. If results exceed expectations, it could bolster confidence in the GBP, while weaker figures may weigh heavily on the pair.
Given the ongoing uncertainty, the USD is likely to gain favor as a safe-haven asset, particularly if US PMI data signals economic expansion. Conversely, soft UK PMI results could further extend the bearish pressure on GBPUSD.

Price Action
On the H4 chart, GBPUSD is exhibiting a bearish movement. The price has declined steadily, reaching the 23.6% Fibonacci retracement level, which is acting as immediate support. The recent series of red candles confirms strong selling pressure, with no signs of reversal yet. If the price fails to hold above the 23.6% retracement level, further declines toward lower Fibonacci levels may occur.

Key Technical Indicators
Bollinger Bands: The price is trading in the lower half of the Bollinger Bands, approaching the lower band. This suggests the market is under bearish pressure, with the potential for oversold conditions if the price touches or breaches the lower band.
Parabolic SAR: The dots are positioned above the candlesticks, signaling a strong downward trend. This reinforces the bearish momentum observed in the current price action.
Relative Strength Index (RSI): The RSI stands at 31.46, nearing oversold territory. This suggests that while the pair is bearish, sellers might soon exhaust their momentum, which could result in a temporary pullback.
Force Index: The Force Index is at -0.54, confirming the bearish dominance. Negative values indicate that selling pressure outweighs buying interest.

Support and Resistance
Support: Immediate support is located at 1.2600, aligning with the 23.6% Fibonacci retracement level and acting as a key floor for the price. The next support lies at 1.2550, a critical level where further selling pressure may pause.
Resistance: The nearest resistance is at 1.2685, corresponding to the 38.2% Fibonacci retracement and a potential reversal area. The key resistance level is at 1.2728, aligning with the 50.0% Fibonacci retracement, which could trigger bullish momentum if breached.

Conclusion and Consideration
The GBPUSD pair is currently in a bearish phase on the H4 chart, as confirmed by key indicators like the Bollinger Bands, Parabolic SAR, RSI, and Force Index. A decisive break below the 23.6% Fibonacci level could open the door for further declines toward 1.2550. However, the RSI indicates the pair is approaching oversold conditions, which could trigger a brief corrective bounce. Fundamental releases, particularly the UK and US PMI data, will play a crucial role in determining the next move.
Traders should monitor support at 1.2600 closely while considering volatility ahead of the PMI reports. A cautious approach is advised, especially with ongoing USD strength due to positive economic expectations.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.16.2024

USDCAD H4 Technical and Fundamental Analysis for 12.17.2024 (https://fxglory.com/2024/12/17/usdcad-h4-technical-and-fundamental-analysis-for-12-17-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDCAD currency pair reflects the exchange rate between the U.S. Dollar (USD) and the Canadian Dollar (CAD). Today, key economic events for the CAD include multiple inflation data releases, such as CPI m/m (forecasted at 0.1%) and Core CPI m/m (expected at 0.4%). Lower-than-expected inflation data could signal subdued economic growth, potentially weakening the CAD. Simultaneously, significant U.S. economic releases include Core Retail Sales m/m (0.4%) and Retail Sales m/m (0.6%), which highlight consumer spending trends. If these data points outperform expectations, the USD may strengthen, increasing bullish pressure on the USD-CAD pair. Traders should remain attentive to these fundamental drivers as they could significantly impact price action throughout the session.

Price Action:
The USD CAD H4 chart reveals that the pair is trading within an ascending channel, indicating a short-term bullish trend. However, price has encountered strong resistance near the upper boundary of the channel at 1.42650, where selling pressure is starting to emerge. The most recent candlesticks exhibit rejection at this level, showing long wicks and small bodies, signaling a weakening bullish momentum. If the price fails to break higher, it could trigger a pullback toward key support areas at 1.42000 and 1.41760, reflecting a bearish correction within the overall bullish structure.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI currently reads 61.53, indicating moderately overbought conditions. A negative divergence is evident, with price forming higher highs while the RSI forms lower highs. This suggests weakening momentum and signals a potential sell opportunity as the bullish strength fades.
MACD (Moving Average Convergence Divergence): The MACD line is curving downward, while the histogram shows shrinking bullish bars. This indicates a slowdown in upward momentum and confirms the negative divergence seen in the RSI. Traders should watch for a bearish crossover between the MACD line and signal line, which could validate a short-term correction.

Support and Resistance Levels:
Support: Immediate support is located at 1.42000, aligning with the lower boundary of the bearish channel and serving as a key area for potential rebounds. Additional support is found at 1.41760, marking a recent low that could attract buyers if the price continues to move downward.
Resistance: The nearest resistance level is at 1.42578, coinciding with the upper boundary of the bearish channel. A further resistance level is identified at 1.42777, which represents a more significant hurdle for bullish attempts and aligns with a prior swing high.

Conclusion and Consideration:
The USD/CAD pair on the H4 timeframe shows signs of exhaustion near key resistance at 1.42650. The RSI and MACD indicators highlight a negative divergence, signaling weakening bullish momentum and a possible pullback. Traders should closely monitor upcoming Canadian CPI data and U.S. Retail Sales, as these releases will heavily influence the USD and CAD. A break below 1.42000 would confirm a bearish correction, while stronger U.S. data could sustain the USD’s bullish stance. Given the sensitivity to economic data, risk management is essential in navigating potential volatility.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.17.2024

EURUSD H4 Technical and Fundamental Analysis for 12.18.2024 (https://fxglory.com/2024/12/18/eurusd-h4-technical-and-fundamental-analysis-for-12-18-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD fundamental analysis is being viewed cautiously as traders await key economic events from both the Eurozone and the United States. In focus is the speech by Bundesbank President Joachim Nagel, a voting member of the ECB Governing Council, which could provide critical clues about the ECB's monetary policy outlook. A hawkish tone could support the Euro, while dovish remarks may extend bearish pressure. Additionally, the Eurozone Consumer Price Index (CPI) report will shed light on inflation levels, a key factor for ECB policy decisions. On the USD side, the Building Permits and Housing Starts data will be released, serving as a leading indicator of construction activity and overall economic health. A better-than-expected US outcome may strengthen the Dollar, reinforcing the bearish bias for EUR/USD.

Price Action:
The EUR/USD H4 candle chart reveals that the pair is stuck in a downward channel, indicating a persistent bearish trend. The EURUSD price action has been making lower highs and lower lows, confirming sellers' control. The pair is currently consolidating near the 1.0493 level but remains under pressure below the descending trendline. A breakout above 1.0520, the immediate resistance level, could signal a short-term reversal, while failure to break above this level may see the price decline toward the lower support levels.

Key Technical Indicators:
Ichimoku Cloud: The price is trading below the Ichimoku Cloud, highlighting a EUR/USD bearish bias. The cloud between 1.0500 and 1.0520 acts as a strong resistance zone. A sustained move above the cloud could signal a trend reversal, while rejection at this level will maintain the pair’s bearish outlook.
RVI (Relative Vigor Index): The RVI (10) currently stands at -0.060, with the signal line slightly negative. This suggests a continuation of the bearish trend. A positive crossover near zero would be an early sign of a potential upward reversal.
RSI (Relative Strength Index): The RSI (14) is at 45.76, reflecting a neutral to slightly bearish sentiment. If the RSI drops below 40, it will confirm increasing bearish momentum. A push above 50 would indicate growing bullish interest.

Support and Resistance:
Support Levels: The 1.0483 level, is the immediate support and the 1.0450 level is the Key lower support, aligning with the descending channel bottom.
Resistance Levels: The 1.0520 level remains the Immediate resistance at the descending trendline and cloud boundary, followed by the next key resistance above the cloud 1.0545.

Conclusion and Consideration:
The EUR/USD forecast today on its H4 chart continues to show signs of a downtrend, as it remains confined within the descending channel. The bearish signals are reinforced by the Ichimoku Cloud resistance, the RSI below 50, and the RVI pointing downward. Traders should monitor 1.0520 for any breakout to the upside, which may indicate a short-term reversal, while failure to break resistance could push the pair toward 1.0483 and 1.0450. Upcoming Eurozone inflation data and Nagel’s speech could provide significant volatility, while strong US economic releases may strengthen the USD further. Traders are advised to exercise caution and implement robust risk management strategies given the current mixed market signals and fundamental events.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.18.2024

NZDUSD Daily Technical and Fundamental Analysis for 12.19.2024 (https://fxglory.com/2024/12/19/nzdusd-daily-technical-and-fundamental-analysis-for-12-19-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The NZDUSD reflects the exchange rate between the New Zealand Dollar (NZD) and the U.S. Dollar (USD). Today, the USD’s performance will be closely tied to the release of key economic data, including GDP figures and Initial Jobless Claims. Stronger-than-expected data may bolster the USD, adding downward pressure on the NZDUSD pair. Meanwhile, New Zealand’s economic sentiment may hinge on business confidence data and risk appetite in global markets. Given the divergence in economic outlooks, traders should expect significant volatility during the U.S. session, as these releases will provide insight into the Federal Reserve’s future monetary policy.

Price Action
In the H4 timeframe, the NZDUSD pair continues to exhibit a strong bearish trend. The price has broken below the lower Bollinger Band, indicating intense selling pressure. This sharp decline has pushed the pair into oversold territory, as shown by key momentum indicators. While there might be a temporary retracement, bearish dominance persists, suggesting further downside risk.

Key Technical Indicators
Bollinger Bands: The NZDUSD price has decisively breached the lower Bollinger Band, signaling strong bearish momentum. The widening bands reflect increased volatility, and the price trading outside the bands indicates an extreme move, which may lead to a short-term corrective pullback.
Parabolic SAR: The Parabolic SAR dots are positioned above the candles, confirming the continuation of the bearish trend. This suggests that the downward momentum is firmly in place, and further declines are likely unless a significant reversal occurs.
RSI (Relative Strength Index): The RSI is currently at 18.82, deep in the oversold zone. While this level indicates strong bearish sentiment, it also raises the possibility of a short-term correction as the market may temporarily stabilize or retrace before continuing its downward movement.
Force Index: The Force Index, sitting at -6.23546, confirms the heavy selling pressure in the market. The negative value aligns with the bearish trend, signaling that bears remain in control without any immediate signs of reversal.

Support and Resistance Levels
Support: Immediate support is located at 0.5550, with a critical level at 0.5500, which aligns with the 100% Fibonacci retracement.
Resistance: The nearest resistance is at 0.5620, coinciding with the middle Bollinger Band and a previous consolidation zone. Further resistance can be seen at 0.5680, aligning with the 61.8% Fibonacci retracement.

Conclusion and Consideration
The NZDUSD pair on the H4 chart is in a strong bearish trend, as confirmed by the technical indicators, including Bollinger Bands, Parabolic SAR, RSI, and Force Index. The breach of key support levels, coupled with oversold conditions, suggests that while bearish momentum remains dominant, a short-term retracement could occur. Fundamental data from the U.S. will be pivotal in shaping the pair’s direction in the coming sessions. Traders should remain cautious, as increased volatility is expected due to the release of major economic indicators.

Disclaimer: The analysis provided for NZD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on NZDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.19.2024

USD/CAD H4 Technical and Fundamental Analysis for 12.20.2024 (https://fxglory.com/2024/12/20/usd-cad-h4-technical-and-fundamental-analysis-for-12-20-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD forecast reflects the economic and monetary policy interplay between the United States and Canada. Today’s USD/CAD news analysis includes upcoming U.S. data, with Personal Consumption Expenditures (PCE) and consumer spending reports, that will be key indicators of inflation trends and consumer behavior, potentially bolstering USD strength if data surprises to the upside. Simultaneously, Canada’s retail sales figures, including core retail sales excluding automobiles, will provide insights into domestic consumer activity. Stronger-than-expected Canadian data could lend support to the CAD by indicating robust consumer spending. However, any dovish undertone from Federal Reserve remarks during Mary Daly's interview may cap USD gains, highlighting the ongoing tug-of-war between the two currencies.

Price Action:
On the USD/CAD H4 chart, the price continues to trade within an ascending channel, indicating a clear USDCAD bullish trend. The pair’s price action has been making higher highs and higher lows, maintaining its upward momentum. Currently, it is approaching the upper boundary of the channel, suggesting a potential test of resistance. A break above the channel could signal a continuation of the rally, while rejection might lead to a retracement toward the channel's lower boundary.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI is at 65.99, which signals bullish momentum but is approaching overbought territory. Traders should monitor for signs of a reversal or divergence as the RSI nears the 70 level.
Bollinger Bands: The price is nearing the upper Bollinger Band, typically a dynamic resistance level. This could lead to a short-term pullback or consolidation, especially if the price fails to break decisively above this band. However, sustained movement along the band’s upper boundary indicates strong buying pressure.
MACD (Moving Average Convergence Divergence): The MACD histogram is expanding positively, with the MACD line staying above the signal line, reinforcing the USD/CAD bullish momentum. This indicator suggests that the upward trend is still intact, with no immediate signs of weakening.

Support and Resistance:
Support Levels: Immediate support is located at 1.4280, near the midline of the Bollinger Bands. Below that, 1.4200 serves as the next key support level, aligning with the lower boundary of the ascending channel.
Resistance Levels: The pair faces immediate resistance at 1.4450, the upper channel boundary. A breakout above this level could pave the way toward 1.4500, a psychological resistance level.

Conclusion and Consideration:
The USD/CAD analysis today remains firmly bullish on its H4 candle chart, supported by positive fundamentals and technical indicators. The RSI and MACD reflect sustained upward momentum, while the Bollinger Bands suggest caution as the price approaches overbought levels. Traders should closely monitor today’s economic releases from both the U.S. and Canada for potential catalysts. A breakout above the 1.4450 resistance could signal continued upside, while a rejection may prompt a retracement. Effective risk management, including stops near the support levels, is advisable given potential volatility from fundamental events.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.20.2024

BTCUSD Daily Technical and Fundamental Analysis for 12.23.2024 (https://fxglory.com/2024/12/22/btcusd-daily-technical-and-fundamental-analysis-for-12-23-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Bitcoin (BTC) has seen a significant decline in recent days following a broad sell-off in the cryptocurrency market. The bearish sentiment in BTCUSD coincides with a strengthening US Dollar (USD), driven by improved economic confidence indicators such as the US CB Consumer Confidence report expected later today. A higher-than-forecast result could further bolster the USD, applying downward pressure on BTC USD. Additionally, market participants remain cautious ahead of the next Federal Reserve meeting, which could reinforce the dollar's strength amid continued inflation concerns and higher interest rates. For Bitcoin, macroeconomic factors such as regulatory developments and adoption trends remain pivotal, but short-term trading may hinge on USD strength and risk sentiment.

Price Action:
The BTC/USD pair on the H4 timeframe reveals a sharp bearish trend. After reaching a significant high earlier in the month, the price has entered a pronounced downward channel. The formation of consecutive bearish candles with intermittent bullish corrections reflects persistent selling pressure. Notably, the price broke below the Ichimoku Cloud and the 23.6% Fibonacci retracement level, signaling a transition to bearish dominance. Currently, the pair is testing the 38.2% Fibonacci retracement level, which serves as a critical support zone.

Key Technical Indicators:
Ichimoku Cloud: The BTC/USD price has decisively broken below the Ichimoku Cloud, confirming bearish momentum. The lagging span is below the price action, and the cloud ahead is bearish (red), indicating further downside potential unless the price reclaims key levels above the cloud.
Volumes: Trading volumes indicate strong selling activity. The spikes in volume accompanying bearish candles suggest heightened bearish sentiment, while lower volumes during bullish retracements reflect weak buying interest. This supports the continuation of the downward trend.
MACD: The MACD line is well below the signal line, and the histogram shows increasing bearish momentum. The deepening divergence between the MACD and signal lines indicates that the bearish trend is gaining strength, with no immediate signs of a reversal.

Support and Resistance:
Support Levels: The first key support level is located at the 38.2% Fibonacci retracement level, which stands at $92,829.72. A further decline could see the price testing the next significant support at the 50.0% Fibonacci retracement level near $87,014.05, marking a critical zone for buyers to step in.
Resistance Levels: The immediate resistance is positioned at the 23.6% Fibonacci retracement level of $98,645.35, which needs to be reclaimed to reduce bearish pressure. Beyond this, a stronger resistance awaits near $102,522.45, aligning with the upper boundary of the Ichimoku Cloud and previous support levels.

Conclusion and Consideration:
The BTC/USD pair in the H4 timeframe remains firmly in a bearish trend. Key technical indicators, including the Ichimoku Cloud, MACD, and Fibonacci levels, all point to sustained downward pressure. However, the upcoming US CB Consumer Confidence report may cause additional volatility, as positive data for the USD could weigh further on BTC-USD. Traders should monitor key support levels such as $92,829.72 and $87,014.05 for potential breakdowns or signs of reversal. Conversely, a recovery above the 23.6% Fibonacci level and the Ichimoku Cloud would be necessary to challenge the current bearish outlook.

Disclaimer: The analysis provided for BTC/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on BTCUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.23.2024

EURAUD Daily Technical and Fundamental Analysis for 12.24.2024 (https://fxglory.com/2024/12/24/euraud-daily-technical-and-fundamental-analysis-for-12-24-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/AUD currency pair is currently influenced by key fundamental factors. Today, the Eurozone is observing a German Bank Holiday, resulting in reduced liquidity for the EUR. This typically leads to lower trading volumes and can cause the EUR to exhibit subdued volatility. Conversely, the Australian Dollar (AUD) is set to react to the release of the Monetary Policy Meeting Minutes at 12:30 AM. Traders will be closely monitoring these minutes for insights into the Reserve Bank of Australia's (RBA) future monetary policy decisions, which could significantly impact the AUD's strength against the EUR. The interplay between reduced EUR liquidity and potential shifts in AUD policy outlooks is expected to shape the trading dynamics of the EURAUD pair today.

Price Action:
On the H4 timeframe, the EURAUD pair is demonstrating a bullish price action. The current price sits above the Ichimoku Cloud, indicating a strong upward momentum. Additionally, the price is forming a flag pattern, which suggests a continuation of the prevailing bullish trend after a brief consolidation phase. The pair has maintained its position above key support levels at 1.66172, 1.65700, and 1.65620, reinforcing the upward trajectory. This flag pattern, combined with the price being above the Ichimoku Cloud, points to a sustained bullish sentiment among traders, potentially leading to further upward movement in the near term.

Key Technical Indicators:
Ichimoku Cloud: On the EURAUD chart, the price and candles are positioned above the Ichimoku cloud, signaling a strong bullish trend. The Tenkan-sen is above the Kijun-sen, further confirming upward momentum, while the Chikou Span remains above the price action, adding additional bullish confirmation in this technical analysis.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line and both are above the zero line, indicating robust bullish momentum. The expanding MACD histogram suggests increasing strength in the upward trend, and recent bullish crossovers reinforce the potential for continued price gains.
Volume: Trading volume on the H4 timeframe for EURAUD is on the rise, supporting the bullish outlook as higher volumes accompany the upward price movement. The increasing volume during price advances indicates strong buying interest, reinforcing the likelihood of sustained bullish.

Support and Resistance Levels:
Support: Immediate support at 1.66172, where the price is currently consolidating. Further support levels are seen at 1.65700 and 1.65620, which could provide stronger buying interest if the price continues to decline.
Resistance: Resistance is located at 1.67000, a recent level where price gains were capped. Additional resistance levels are at 1.67500 and 1.68000, where stronger selling pressure may re-emerge if the price rebounds.

Conclusion and Consideration:
The EURAUD pair on the H4 chart exhibits strong bullish momentum, supported by both fundamental and technical indicators. The price remains above the Ichimoku Cloud and is forming a flag pattern, suggesting a continuation of the upward trend. RSI and volume indicators further reinforce the buy signal, while the established support levels provide a safety net against potential pullbacks. However, traders should remain cautious of upcoming fundamental events, such as the release of the AUD Monetary Policy Meeting Minutes, which could introduce volatility. Additionally, the reduced EUR liquidity due to the German Bank Holiday may lead to unexpected price movements. Overall, the technical setup is favorable for bullish traders, but staying alert to fundamental developments is essential.

Disclaimer: The analysis provided for EUR/AUD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURAUD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.24.2024

GBP/USD H4 Technical and Fundamental Analysis for 12.27.2024 (https://fxglory.com/2024/12/27/gbp-usd-h4-technical-and-fundamental-analysis-for-12-27-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD news analysis today influenced by various economic events and market sentiment surrounding both the British Pound and the US Dollar. Key upcoming US data includes trade and inventory reports, as well as energy stock levels, which will likely impact USD demand. A strong trade balance or inventory data may bolster the USD. Conversely, with no immediate impactful UK economic data today, the market is focused on the broader monetary policy outlook from the Bank of England and global risk sentiment, both of which could affect the GBP. Economic divergence between the Federal Reserve and the Bank of England could set the tone for the medium-term GBPUSD trend.

Price Action:
On the GBP/USD H4 chart, the price has been trading within a defined range, showing signs of consolidation after a sharp recent downtrend. The pair’s price has been unable to break key resistance levels, indicating a lack of bullish momentum. The candlestick patterns suggest indecision among traders, as evidenced by repeated tests of both resistance and support levels without a clear breakout.

Key Technical Indicators:
Ichimoku Cloud: The price is trading below the Kumo (cloud), which signals GBPUSD’s bearish bias. However, a close above the Tenkan-Sen (red line) could indicate short-term bullish pressure. The Senkou Span A and B are diverging slightly, suggesting indecision but a predominantly bearish trend.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, with a negative histogram value, highlighting continued bearish momentum. However, the declining size of the histogram bars suggests that bearish pressure is waning, potentially signaling a shift in momentum.
RSI (Relative Strength Index): Currently at 43.79, the RSI suggests neutral-to-bearish conditions, as the indicator remains below the 50-mark. This indicates that sellers still have control, but the market is not yet oversold.

Support and Resistance:
Support Levels: Immediate support is observed at 1.25143, followed by 1.24848. A break below these levels could trigger further downside momentum.
Resistance Levels: Key resistance levels are at 1.25387 and 1.25639. A breach above these levels could confirm a bullish breakout and push the price higher toward 1.25965.

Conclusion and Consideration:
The GBP/USD H4 outlook today hints that the pair’s bearish trend is weakening, as indicated by the Ichimoku cloud, RSI, and MACD. However, the waning bearish momentum could signal potential consolidation or a reversal in the near term. Traders should closely monitor the upcoming US data releases and any geopolitical developments that might impact the GBP/USD forecast today. A breakout above 1.25387 would be a bullish confirmation, while a breakdown below 1.25143 could signal further downside risks.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.27.2024

USDCHF H4 Daily Technical and Fundamental Analysis for 12.30.2024 (https://fxglory.com/2024/12/30/usdchf-h4-daily-technical-and-fundamental-analysis-for-12-30-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CHF currency pair reflects the exchange rate between the US Dollar (USD) and the Swiss Franc (CHF). Today's focus lies on two significant economic events. For the USD, the Chicago PMI and Pending Home Sales reports are expected to provide insights into the health of the US economy. A higher-than-forecast Chicago PMI would indicate expansion in business activity, supporting the USD. Meanwhile, robust Pending Home Sales data could strengthen the dollar further by reflecting healthy consumer demand. On the CHF side, the KOF Economic Barometer release is expected to give a forward-looking view of the Swiss economy. A stronger reading than forecast may boost the CHF, though the overall impact is likely to be moderate compared to the USD’s key data releases.

Price Action:
The USDCHF forex pair on the H4 chart remains in a bullish trend, trading within a well-defined ascending channel. Despite the last two bearish candles, the overall momentum stays intact, with the price consolidating near the 23.6% Fibonacci retracement level. The USD-CHF pair is currently positioned above the Ichimoku cloud, signaling a continuation of bullish sentiment. Buyers remain in control, but the price is showing signs of testing minor resistance at the upper boundary of the channel.

Key Technical Indicators:
IchiMoku Cloud: The USD CHF price is trading above the Ichimoku cloud, confirming a bullish trend. While the last two candles show minor pullbacks, the bullish momentum remains intact, as the price sustains its position above the cloud, indicating a strong support zone.
Volumes: The volume bars indicate a decrease in buying activity, with the last two candles accompanied by red volume bars. This suggests a slowdown in bullish momentum, warranting caution as the price approaches key resistance levels.
MACD (Moving Average Convergence Divergence): The MACD histogram remains positive, with the MACD line staying above the signal line. However, there are signs of waning momentum, as the histogram shows a slight reduction in bullish pressure. This could indicate potential consolidation before the next upward move.

Support and Resistance Levels:
Immediate Support: 0.90000, aligned with the lower boundary of the ascending channel and the 38.2% Fibonacci level.
Key Resistance: 0.90635, corresponding to the 23.6% Fibonacci retracement level and the upper boundary of the channel.

Conclusion and Considerations:
The USDCHF pair remains in a bullish trend on the H4 chart, supported by the Ichimoku cloud and the ascending channel. However, caution is advised as the last two bearish candles and declining volume indicate a potential consolidation phase. Traders should monitor the upcoming Chicago PMI and KOF Economic Barometer releases, as they could trigger increased volatility and influence the USDC/HF pair's direction. A breakout above 0.90635 would confirm further bullish momentum, while a drop below 0.90000 may signal a short-term reversal.

Disclaimer: The analysis provided for USD/CHF is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCHF. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
12.30.2024

XRPUSD H4 Technical and Fundamental Analysis for 12.31.2024 (https://fxglory.com/2024/12/31/xrpusd-h4-technical-and-fundamental-analysis-for-12-31-2024/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The XRP/USD pair is influenced by both cryptocurrency market dynamics and broader financial indicators. Currently, XRP is experiencing a slightly bearish trend influenced by reduced liquidity due to upcoming financial events. The latest news indicates that German banks will be closed in observance of New Year's Eve, leading to low liquidity and irregular volatility in the forex markets. Additionally, upcoming releases from Standard & Poor's and FHFA on January 28, 2025, regarding housing prices are expected to impact the USD positively if the actual figures exceed forecasts. These fundamental factors suggest potential downward pressure on XRPUSD in the short term, as traders navigate through lower liquidity and anticipate key economic data releases.

Price Action
The XRP/USD pair on the H4 timeframe is currently in a slightly bearish trend. Over the past week, the price has been consolidating in the lower half of the Bollinger Bands, oscillating between the lower and middle bands. Recent candlestick patterns indicate a series of lower highs and lower lows, reinforcing the bearish sentiment. Additionally, the trading volume has been decreasing, suggesting a lack of strong buying interest, which may lead to further downside movement if the bearish trend continues.

Key Technical Indicators
Bollinger Bands: The XRP/USD pair is trading within the lower half of the Bollinger Bands, positioned between the lower band and the middle band. This placement indicates a slightly bearish trend, as the price struggles to break above the middle band. The narrowing of the Bollinger Bands suggests a potential decrease in volatility, which could precede a significant price movement either upwards or downwards.
Volumes: Trading volumes for XRPUSD have been on a downward trend, signaling reduced market participation. Lower volumes often precede trend reversals or continuation, depending on other indicators. In this case, the declining volumes support the current bearish outlook, as diminished buying interest fails to sustain the price above the middle Bollinger Band.
RSI (Relative Strength Index): The RSI for XRP USD is currently hovering around 40, below the neutral level of 50. This positioning indicates that the pair is in a slightly bearish territory, with potential for further declines. The RSI trend suggests that selling pressure may continue, although it is not yet in oversold territory, leaving room for additional bearish momentum.
Stochastic Oscillator: The Stochastic Oscillator is reflecting bearish momentum, with readings below 50 and moving towards the oversold region. This suggests that the downward movement may persist, as the oscillator indicates sustained selling pressure. However, traders should remain cautious of potential reversals if the oscillator starts to climb from the oversold levels.

Support and Resistance
Support: The price is currently approaching the 61.8 Fibonacci level, which serves as a strong support zone. This level is expected to provide a significant barrier against further declines, where buying interest may emerge to stabilize the price.
Resistance: On the upside, the 50.0 Fibonacci level acts as an important resistance area. If the price attempts to rise towards this level, selling pressure is likely to increase, preventing further upward movement and potentially causing the price to retreat.

Conclusion and Considerations
The XRP USD pair on the H4 chart is currently exhibiting a slightly bearish trend, supported by the price action within the lower half of the Bollinger Bands and declining trading volumes. Key technical indicators such as RSI and the Stochastic Oscillator reinforce the bearish sentiment, although they do not yet indicate oversold conditions. Traders should monitor the support levels at 0.65 and 0.60 for potential buying opportunities, while resistance at 0.70 and 0.75 may act as barriers to upward movement. Additionally, upcoming economic news, including the closure of German banks and housing price reports from Standard & Poor's and FHFA, could introduce further volatility and influence the USD, thereby impacting the XRP-USD pair. It is advisable to stay cautious and consider these fundamental factors when making trading decisions.

Disclaimer: The analysis provided for XRP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on XRPUSD. Market conditions can change quickly, so staying informed with the latest data is essential

FXGlory
12.31.2024

EUR/USD H4 Technical and Fundamental Analysis for 01.03.2025 (https://fxglory.com/2025/01/03/eur-usd-h4-technical-and-fundamental-analysis-for-01-03-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD news analysis today, shows the pair is poised for significant moves with key data releases. On the Euro side, employment data reveals continued stability, with unemployment claims reflecting economic resilience. In contrast, the USD is influenced by the ISM Manufacturing PMI and Prices Paid reports, which are vital indicators of economic expansion and inflation trends. Positive PMI data could strengthen the USD, exerting downward pressure on EUR/USD. Meanwhile, hawkish statements from Federal Reserve officials could amplify USD's bullish momentum, adding to volatility. Traders are bracing for these fundamental drivers, which could set the tone for the EUR/USD fundamental outlook today.

Price Action:
The EUR/USD technical analysis today on its H4 chart indicates a pronounced bearish move, with the price breaking below key support levels. The large bearish candlestick signals strong seller dominance, and the pair is now testing the 1.0260 support zone. A potential retracement toward the 1.0350 level, now turned resistance, is possible before further downward movement. The overall structure suggests bearish momentum prevailing unless a decisive break above the resistance level occurs.

Key Technical Indicators:
Ichimoku Cloud: The price has decisively broken below the Ichimoku cloud, signaling a EURUSD bearish trend continuation. Both the Tenkan-sen and Kijun-sen lines are aligned downward, further reinforcing bearish momentum. The Lagging Span also supports this sentiment, sitting well below the price action and cloud.
MACD (Moving Average Convergence Divergence): The MACD histogram shows increasing negative momentum, with the MACD line diverging further below the signal line. This confirms the bearish momentum and suggests that selling pressure remains strong in the short term.

Support and Resistance:
Support Levels: Immediate support is found at 1.0260, a critical level that, if breached, could lead to further declines toward 1.0200.
Resistance Levels: Key resistance is located at 1.0350, with the next level of significant resistance at 1.0400, near the Ichimoku cloud base.

Conclusion and Consideration:
The EUR/USD forecast today tell us that it is entrenched in a bearish trend, with technical indicators and price action aligning to support further downside. Upcoming US ISM data could provide additional bearish catalysts if stronger-than-expected, bolstering the USD's position. Conversely, any weaker-than-anticipated data could trigger a short-term corrective rally. Traders should closely monitor the 1.0260 support level for a potential breakdown or reversal signals. Effective risk management, including stop-loss orders near resistance levels, is essential given the heightened volatility around today’s fundamental releases.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.03.2025

GOLDEUR Daily Technical and Fundamental Analysis for 01.06.2025 (https://fxglory.com/2025/01/06/goldeur-daily-technical-and-fundamental-analysis-for-01-06-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The GOLDEUR pair, which reflects the price of gold in euros, is influenced by broader macroeconomic developments, such as inflation expectations and central bank policies. Today’s trading is expected to see lower liquidity due to the Italian banks being closed in observance of Epiphany Day, which could result in irregular volatility for the Euro. Meanwhile, the Eurozone CPI release will be critical for gauging inflation trends, with a higher-than-expected reading likely to strengthen the Euro by raising the probability of further European Central Bank tightening. Gold, however, may act as a safe haven, particularly if upcoming Eurozone economic data highlights uncertainties or weaknesses.

Price Action
In the H4 timeframe, GOLDEUR exhibits a corrective pullback after a strong bullish surge. The pair has recently touched the upper Bollinger Band and is now retracing towards the 23.6% Fibonacci level. Several bearish candles have formed, signaling the potential for further downside correction. If the price sustains below the 23.6% Fib level, it could continue its decline towards the 38.2% and 50.0% Fibonacci retracement levels, aligning with critical support zones. However, should the price regain upward momentum, a re-test of the recent highs near the upper Bollinger Band is possible.

Key Technical Indicators
Bollinger Bands: The bands have widened significantly, indicating recent high volatility. The price has retreated from the upper band and is approaching the middle band, which acts as a dynamic support level. A break below this level could signal further bearish momentum.
Volume: Volume has decreased slightly during the correction phase, indicating weaker bullish conviction and the possibility of continued downward movement.
RSI (Relative Strength Index): The RSI is currently at 59.48, reflecting moderate bullish momentum. However, it is moving away from the overbought zone, suggesting potential room for further correction.
Stochastic Oscillator: The Stochastic Oscillator is in the oversold region (10.98), hinting at possible bearish exhaustion. This could indicate an imminent reversal or consolidation before further price action develops.

Support and Resistance Levels
Support: Immediate support is located at 2,571, which aligns with the 23.6% Fibonacci level and recent price retracement.
Resistance: The nearest resistance level is at 2,583, coinciding with the recent high and the upper Bollinger Band.

Conclusion and Consideration
GOLDEUR currently shows signs of a technical correction within its broader bullish trend. While the RSI and Stochastic Oscillator suggest that the correction could soon exhaust, traders should monitor the key Fibonacci levels and Bollinger Band dynamics for clearer signals. The 23.6% Fibonacci level will serve as a critical pivot; a sustained break below it could open the path to deeper retracement levels. Conversely, a rebound could re-establish bullish momentum. The upcoming Eurozone CPI data will likely have a significant impact on GOLDEUR volatility, and lower liquidity due to the Italian holiday might exacerbate price swings.

Disclaimer: The analysis provided for GOLD/EUR is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GOLDEUR. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.06.2025

ETHUSD Daily Technical and Fundamental Analysis for 01.07.2025 (https://fxglory.com/2025/01/07/ethusd-daily-technical-and-fundamental-analysis-for-01-07-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The ETH/USD pair is currently under the influence of a potential "Alcoin season," indicating a surge in interest and investment within the alternative cryptocurrency market. Today's key economic indicators for the USD, including the ISM Services PMI expected to rise to 53.5 from 52.1 and JOLTS Job Openings slightly decreasing to 7.73M from 7.74M, are scheduled for release at 3:00 PM. A stronger-than-expected ISM Services PMI could bolster the USD, potentially exerting downward pressure on ETH/USD. Conversely, stable JOLTS figures are likely to have a neutral impact. Additionally, the increasing interest in alternative coins suggests a bullish sentiment that may support ETH/USD's upward trajectory.

Price Action:
On the H4 timeframe, ETH/USD has embarked on a bullish wave, striving to breach the 0.618 Fibonacci retracement level. The price action reflects a strong upward momentum, with ETH/USD maintaining its stance above key support levels at 3605.70, 3557.5, and 3486.00. This bullish movement suggests sustained buying interest and the potential for further price appreciation. The current attempt to surpass the Fibonacci level is a critical juncture that could either confirm the continuation of the bullish trend or lead to a consolidation phase if the resistance proves too strong.

Key Technical Indicators:
MACD (Moving Average Convergence Divergence): The MACD is displaying a positive divergence, with the MACD line positioned above the signal line. The increasing histogram indicates growing bullish momentum, supporting the current upward trend in ETH/USD.
Ichimoku Cloud: ETH/USD is trading above the Ichimoku Cloud, which is a strong bullish signal. The cloud's configuration provides robust support for the ongoing upward movement, suggesting that the bullish trend is well-supported by this indicator.

Support and Resistance:
Support Levels: Immediate Support: 3605.70 – This level aligns with recent price consolidation and serves as the first line of defense against potential downward movements. Secondary Supports: 3557.5 and 3486.00 – These additional support levels provide strong floors that can absorb further declines, reinforcing the bullish outlook.
Resistance Levels: Primary Resistance: 0.618 Fibonacci Retracement Level – This is the key barrier that ETH/USD is attempting to overcome. A successful breach could lead to significant upward movement. Additional Resistance Levels: Previous highs and psychological price points should be monitored for potential resistance zones that may challenge the bullish momentum.

Conclusion and Consideration:
The ETH/USD pair on the H4 chart exhibits robust bullish momentum, underpinned by key technical indicators such as MACD and the Ichimoku Cloud. The current price action, striving to break above the 0.618 Fibonacci retracement level, indicates a strong potential for continued upward movement. Supported by solid support levels at 3605.70, 3557.5, and 3486.00, the bullish trend appears well-supported. However, traders should remain vigilant of the critical resistance at the Fibonacci level and the impact of upcoming USD economic data releases. A successful breakout could present lucrative trading opportunities, while any failure to breach resistance may lead to a retracement towards the established supports.

Disclaimer: The analysis provided for ETH/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on ETHUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.07.2024

EUR/USD H4 Technical and Fundamental Analysis for 01.08.2025 (https://fxglory.com/2025/01/08/eur-usd-h4-technical-and-fundamental-analysis-for-01-08-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD news analysis today includes upcoming U.S. labor data such as ADP employment changes and initial jobless claims, which could indicate the health of the U.S. labor market and influence Federal Reserve policy. Strong employment data will likely bolster the dollar, further adding to the EUR/USD bearish outlook. On the Eurozone side, attention turns to German industrial orders and retail sales data. Weak results from these indicators may indicate softening economic activity in the Eurozone, adding to bearish sentiment on the Euro.

Price Action:
the EUR/USD technical analysis today on its H4 candle chart shows mixed sentiment, with the price hovering near a significant support level at 1.0315. The market attempted an upward move but was rejected at the 1.0340 resistance level, forming bearish candlesticks. Sellers appear to have regained control, driving the price back below the key Ichimoku Cloud.

Key Technical Indicators:
Ichimoku Cloud: The price has broken below the Ichimoku Cloud, signaling bearish momentum. The lagging span further supports a EURUSD bearish bias, and the resistance offered by the Kumo suggests that upward attempts will face strong selling pressure.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, and the histogram is negative, confirming bearish momentum. This aligns with the pair’s price action below the Ichimoku Cloud, further supporting a bearish outlook.
RSI (14): The RSI is at 45.63, indicating neutral to slightly bearish momentum. The value is well below the overbought zone, suggesting room for further downward movement.

Support and Resistance:
Support Levels: 1.0315 (key horizontal support), followed by 1.0280 (next potential downside target).
Resistance Levels: 1.0340 (near-term resistance), with further resistance at 1.0375 (a prior high).

Conclusion and Consideration:
The EUR/USD forecast today highlights bearish momentum supported by the pair’s technical indicators and its fundamental headwinds. If the price sustains below the 1.0340 resistance level, it may test the 1.0315 support and potentially move toward 1.0280. Traders should monitor U.S. labor data closely, as stronger-than-expected results could accelerate the pair's bearish trajectory. The Ichimoku Cloud and MACD both indicate bearish trends, suggesting that short positions may be favorable with appropriate risk management. However, a surprise improvement in Eurozone data could provide temporary relief to the pair.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.08.2025

AUDUSD Daily Technical and Fundamental Analysis for 01.09.2025 (https://fxglory.com/2025/01/09/audusd-daily-technical-and-fundamental-analysis-for-01-09-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUD/USD currency pair reflects the exchange rate between the Australian Dollar (AUD) and the US Dollar (USD). Today, the US Dollar might experience heightened volatility due to multiple scheduled Federal Reserve speeches. With FOMC members including Michelle Bowman and Patrick Harker discussing monetary policy and economic outlook, traders will look for any hawkish tones that could signal future interest rate adjustments. Simultaneously, the Australian Dollar's movements will be influenced by recent data on trade balance and retail sales, which serve as key indicators of consumer spending and export performance. Strong retail sales or trade surpluses tend to boost the AUD as they reflect economic resilience.

Price Action:
The AUD/USD pair in the H4 timeframe is showing signs of bearish momentum, with 6 out of the last 10 candles being bearish. However, the last two candles have been bullish, suggesting a potential short-term correction. The price is moving within the 61.8% and 100% Fibonacci retracement levels, signaling a zone of support at 0.6193 and resistance at 0.6255. Additionally, the price remains in the lower half of the Bollinger Bands, attempting to breach the middle band after bouncing from the lower band. The overall bias remains bearish unless the price closes above the middle Bollinger Band.

Key Technical Indicators Analysis:
Bollinger Bands: The AUD-USD price is trading in the lower half of the Bollinger Bands, signaling bearish momentum. After touching the lower band, the price has started correcting upward, heading toward the middle band. However, it remains below this level, indicating continued downward pressure unless a breakout occurs.
Volumes: Volumes have remained moderate, with no significant spikes indicating strong bullish or bearish conviction. This suggests that the recent price movement may be part of a consolidation phase or a weak corrective rebound rather than a trend reversal.
RSI (Relative Strength Index): The RSI is currently at 45.86, slightly below the neutral 50 mark, which reflects weak bearish momentum. It is far from overbought or oversold levels, leaving room for further price movement in either direction.
Stochastic Oscillator: The Stochastic Oscillator is currently at 40.31 (K line) and 29.88 (D line), indicating a near-oversold condition. This hints at a potential short-term upward correction, though the bearish trend remains dominant overall.

Support and Resistance:
Support: 0.6193 aligns with the 100% Fibonacci retracement level and a recent price rejection area, serving as a key support for the current bearish momentum. 0.6145 is a historical support level below recent lows, which could act as the next downside target if bearish pressure persists.
Resistance: 0.6255 coincides with the 61.8% Fibonacci retracement level and has been a key resistance during the current price correction phase. 0.6310 is the middle Bollinger Band and a potential pivot point for a shift in trend, marking a critical area for bullish attempts.

Conclusion and Consideration:
The AUD/USD pair on the H4 chart shows an ongoing bearish trend, with recent bullish candles signaling a possible short-term correction. Traders should watch for a decisive move above the middle Bollinger Band or a breakdown below 0.6193 for further confirmation of direction. Key technical indicators like RSI and Stochastic suggest potential upward correction, but bearish momentum remains the broader trend. Fundamental drivers, including upcoming FOMC speeches and Australian retail sales figures, could add volatility to the AUD USD pair. A hawkish tone from the Federal Reserve would likely strengthen the USD, while robust Australian trade data could lend support to the AUD.

Disclaimer: The analysis provided for AUD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.09.2025

USD/CAD H4 Technical and Fundamental Analysis for 01.10.2025 (https://fxglory.com/2025/01/10/usd-cad-h4-technical-and-fundamental-analysis-for-01-10-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD news analysis today remains at the forefront of traders' focus due to upcoming key economic releases for both the US and Canada. For the USD, Non-Farm Payrolls (NFP), unemployment rate, and labor cost index data are expected to bring heightened volatility. Strong labor market data could reinforce expectations of further tightening by the Federal Reserve, supporting the US Dollar. On the Canadian side, upcoming employment numbers will serve as a barometer of the country's economic resilience. With Canada’s heavy reliance on commodities, stable or improving oil prices might further bolster the Canadian Dollar. However, the market sentiment of this pair, commonly known as the “Loonie,” will depend on the interplay of these fundamental drivers and their divergence.

Price Action:
The USD/CAD H4 chart indicates consolidation within the pair’s moderately bullish trend. USDCAD’s price has rebounded from recent support levels but faces resistance near the upper boundary of the current range. The Loonie’s price action demonstrates narrow candlesticks, signifying indecision among traders. A break above the resistance level at 1.4430 could signal further upward movement, while a failure could see the pair retesting lower support at 1.4350.

Key Technical Indicators:
Bollinger Bands: The price is hugging the middle band, indicating neutral momentum. A breakout above the upper band would confirm bullish continuation, while a drop below the lower band could suggest bearish sentiment.
Stochastic Oscillator: The stochastic is hovering around the overbought region near 77, suggesting potential exhaustion in the pair’s bullish bias. A downward cross may signal a short-term correction.
Volume: Volume levels remain subdued, suggesting a lack of strong conviction among traders at the current price range. A spike in volume could validate a directional breakout.

Support and Resistance:
Support Levels: 1.4350 (key psychological support) and 1.4280 (lower Bollinger Band).
Resistance Levels: 1.4430 (key short-term resistance) and 1.4500 (higher target in case of a breakout).

Conclusion and Consideration:
The USD/CAD analysis today on its H4 candle chart is in a phase of consolidation with potential for a breakout. Fundamental releases, including the NFP and Canadian employment data, are likely to set the tone for the pair's next major price movement. Technical indicators suggest cautious optimism for bulls but highlight the risk of a pullback from overbought conditions. Traders should monitor key support and resistance levels alongside volume for breakout confirmation. Employing tight stop-losses is recommended due to the volatility expected around the upcoming economic data.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.10.2025

GOLD/USD (XAU/USD) Daily Technical and Fundamental Analysis for 01.13.2025 (https://fxglory.com/2025/01/13/gold-usd-xau-usd-daily-technical-and-fundamental-analysis-for-01-13-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Gold prices (XAU/USD) reflect mixed sentiment as traders prepare for the release of the US Monthly Treasury Statement. A higher-than-expected surplus could strengthen the US Dollar, pressuring Gold lower, while a deficit may boost Gold as a safe-haven asset. Broader market drivers, including concerns about inflation and central bank monetary policy, continue to influence Gold's bullish momentum. The inverse correlation between the USD and Gold remains critical to monitor as today's news unfolds.

Price Action:
Gold price is moving in a well-defined bullish trend within an ascending channel on the H4 time frame. The price is currently testing the upper region of the Bollinger Bands, indicating strong buyer momentum. While a slight pullback is visible, the price remains comfortably above the 23.6% Fibonacci retracement level, with bulls eyeing a potential breakout near the 0% Fibonacci level for continued upward movement.

Key Technical Indicators:
Bollinger Bands: Gold’s price remains in the upper half of the Bollinger Bands, touching the upper line, which signals strong bullish momentum. The bands are slightly widening, suggesting increased volatility, while the recent pullback offers potential for buyers to re-enter.
RSI (Relative Strength Index): The RSI is at 66.04, hovering near overbought levels but not yet signaling an overextension. The indicator confirms bullish strength, but traders should be cautious of potential consolidation or minor corrections.
Stochastic Oscillator: The Stochastic Oscillator is near overbought territory at 70.62, which suggests the bullish move could slow down temporarily. Any crossover in this region might indicate short-term pullbacks or consolidation before a continuation.
Volume: Volume levels remain steady, aligning with the ongoing upward trend. Traders should watch for any divergence between price and volume, which could signal weakening momentum.

Support and Resistance Levels:
Support: The first support level lies at 2666.20, which aligns with the 23.6% Fibonacci retracement and holds as a critical bullish barrier. Below this, 2648.52 provides stronger support within the ascending channel, coinciding with the 38.2% Fibonacci retracement.
Resistance: Resistance is situated at 2687.78, near the current high and the 0% Fibonacci level, acting as a short-term ceiling for buyers. A breakout above this could drive prices toward the channel’s upper boundary near 2709.62, opening the door for further gains.

Conclusion and Consideration:
Gold USD (XAU/USD) on the H4 chart remains in a strong bullish structure, supported by the ascending channel and key Fibonacci levels. While technical indicators suggest overbought conditions, the price action supports the possibility of further upside, especially if buyers manage to push past the immediate resistance. Traders should keep a close eye on today’s US Treasury Statement, as it could introduce significant volatility. Caution is advised if the price breaks below the 23.6% Fibonacci level, which could signal a bearish correction.

Disclaimer: The analysis provided for GOLD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GOLDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.13.2025

USDJPY Daily Technical and Fundamental Analysis for 01.14.2025 (https://fxglory.com/2025/01/14/usdjpy-daily-technical-and-fundamental-analysis-for-01-14-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/JPY currency pair is being influenced by contrasting economic conditions today. On the Japanese side, economic data highlights a mixed scenario, with reports from the Bank of Japan indicating potential optimism, as the Eco Watchers Index reflects moderate consumer sentiment improvements. However, attention remains focused on whether the BOJ will maintain its ultra-loose monetary policy. For the USD, key economic data, including the Core PPI and comments from a Federal Reserve official, could steer the dollar's strength. With both currencies impacted by varied data, traders should expect choppy price movements as the market digests the economic updates.

Price Action:
In the H4 timeframe, USDJPY is trading within a tight range, showing slight consolidation near the 23.6% Fibonacci retracement level of 157.50. The price recently moved upward, with five consecutive bullish candles indicating modest buying momentum. Despite this, the USD JPY pair lacks strong directional bias, suggesting traders are awaiting further catalysts to confirm the next trend direction. The movement between the Fibonacci level and the middle Bollinger Band signifies a phase of indecision in the market.

Key Technical Indicators:
Bollinger Bands: The USDJPY price has recently moved from the lower Bollinger Band toward the middle band, supported by five consecutive bullish candles. However, the price has yet to establish a sharp bearish or bullish trend. The narrowing of the Bollinger Bands indicates a period of low volatility, which often precedes significant price movement.
Volume: The volume indicator shows declining activity, reinforcing the market's indecision phase. A breakout from current levels, accompanied by a volume increase, will be critical to confirm directional movement.
MACD (Moving Average Convergence Divergence): The MACD histogram displays decreasing momentum, with the MACD line hovering just below the signal line. This suggests a weakening bullish trend and the potential for a bearish crossover if momentum does not improve.
RVI (Relative Vigor Index): The RVI shows a mildly bearish reading, with the indicator lines sloping downward. This signals caution as the bears might gain strength, especially if the USD-JPY pair fails to sustain support at current levels.

Support and Resistance:
Support: Immediate support is located at 156.30, which aligns with the 38.2% Fibonacci retracement and serves as a critical level for maintaining bullish sentiment. A break below this level may lead the USD JPY price toward the 155.70 support, corresponding to the 50% Fibonacci retracement and providing a stronger downside buffer.
Resistance: The nearest resistance level is at 157.60, which coincides with the 23.6% Fibonacci retracement and recent highs. A breakout above this level could open the door for further bullish momentum toward 158.20, aligning with the upper Bollinger Band.

Conclusion and Consideration:
The USD/JPY pair on the H4 chart indicates consolidation near the 23.6% Fibonacci retracement level, with bullish momentum slowing as indicated by the MACD and volume metrics. Traders should watch for a breakout above 157.60 or a breakdown below 156.30 to confirm the next directional bias. The upcoming economic releases for both USD and JPY could serve as catalysts for these movements.

Disclaimer: The analysis provided for USD/JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDJPY. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.14.2025

GBP/USD H4 Technical and Fundamental Analysis for 01.15.2025 (https://fxglory.com/2025/01/15/gbp-usd-h4-technical-and-fundamental-analysis-for-01-15-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD price action is heavily influenced by economic indicators and monetary policies in both the UK and the US. As for the GBP/USD news analysis today, we focus on US Consumer Price Index (CPI) data, which serves as a key gauge of inflation. A higher-than-expected CPI could strengthen the USD as traders anticipate further tightening from the Federal Reserve. In the UK, speeches from Bank of England policymakers, alongside inflation and housing market data, are shaping sentiment. These fundamental drivers suggest heightened volatility for the pair’s bias in the near term.

Price Action:
The GBP/USD technical analysis today on its H4 chart shows a potential reversal after forming a recent low around 1.2140. The price is consolidating and testing resistance near 1.2210, which aligns with previous price levels. The candlestick patterns indicate indecision, with neither buyers nor sellers dominating at this stage. A breakout above 1.2230 could confirm bullish momentum, while a move below 1.2140 would signal further downside risk.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR dots are above the price candles, indicating GBPUSD’s bearish trend is still in play. However, if the dots flip below the candles, it may suggest a trend reversal.
MACD (Moving Average Convergence Divergence): The MACD histogram is negative, with the MACD line below the signal line. This confirms bearish momentum, although the histogram shows signs of convergence, hinting at a potential reversal.
RSI (Relative Strength Index): The RSI is at 43.91, which is slightly bearish but approaching neutral territory. This indicates a lack of strong momentum, and a move above 50 would suggest a bullish shift.

Support and Resistance:
Support Levels: The immediate support level is at 1.2140, with a further strong support zone around 1.2100.
Resistance Levels: The key resistance levels are 1.2210, followed by 1.2230. A break above these levels could open the path toward 1.2300.

Conclusion and Consideration:
The GBP/USD H4 outlook today reflects a market at a crossroads, with technical indicators showing signs of a possible reversal but still leaning bearish. Traders should monitor the US CPI data and Bank of England commentary for fundamental catalysts that could push the pair in either direction. From a technical perspective, a break above 1.2230 would signal bullish continuation, while failure to hold above 1.2140 could lead to further declines. Setting appropriate risk management measures, including stop-loss orders, is crucial given the pair's sensitivity to economic events.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.15.2025

AUDUSD Daily Technical and Fundamental Analysis for 01.16.2025 (https://fxglory.com/2025/01/16/audusd-daily-technical-and-fundamental-analysis-for-01-16-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUDUSD pair reflects the exchange rate between the Australian Dollar (AUD) and the US Dollar (USD). Today, the US Dollar is expected to face mixed influences from a series of key economic data releases, including Retail Sales and Initial Jobless Claims. These indicators will provide insight into consumer spending and labor market conditions, both of which are critical for evaluating the overall health of the US economy. Additionally, the speech by Federal Reserve Bank of New York President John Williams might provide subtle clues regarding future monetary policy, impacting USD volatility. On the other hand, the AUD is being shaped by employment data and consumer inflation expectations. While the Australian labor market remains relatively stable, heightened inflation expectations could influence the Reserve Bank of Australia's monetary outlook. These dynamics make the AUD USD pair a potential hotspot for volatility.

Price Action:
In the H4 timeframe, AUD/USD is currently in a bullish trend. However, after touching the first resistance level at 0.6246, the price has retreated, forming three bearish candles out of the last four. This suggests a weakening bullish momentum as the pair consolidates near the resistance zone. The current price action is testing support near 0.6211, with further downside risk if bearish sentiment persists.

Key Technical Indicators:
Bollinger Bands: The price has recently moved closer to the middle Bollinger Band, indicating consolidation after a bullish push. The narrowing Bands suggest a decrease in volatility, which may precede a breakout. The price remains above the lower band, keeping the bullish structure intact.
Volumes: Trading volumes show a steady decline, reflecting reduced market participation or hesitation near the resistance level. This aligns with the retreat from 0.6246, signaling a potential pause in bullish activity.
MACD (Moving Average Convergence Divergence): The MACD histogram is in positive territory, with the MACD line above the signal line. However, the diminishing histogram bars suggest weakening bullish momentum. Traders should watch for a potential crossover as an early sign of bearish pressure.
RVI (Relative Vigor Index): The RVI is beginning to slope downward, suggesting a shift in momentum towards bearishness. This indicator confirms the bearish candles seen in recent price action and signals caution for buyers.

Support and Resistance:
Support: Immediate support is located at 0.6211, which aligns with a recent price consolidation area and the middle Bollinger Band. Secondary support is found at 0.6193, corresponding to the 100% Fibonacci retracement level.
Resistance: The nearest resistance level is at 0.6246, coinciding with the first resistance zone where the price has recently retraced. Further resistance is located at 0.6272, aligning with the 61.8% Fibonacci retracement level and recent highs.

Conclusion and Consideration:
The AUDUSD pair on the H4 chart shows that while the bullish trend remains intact, the retreat from the resistance level at 0.6246 and the appearance of bearish candles suggest a potential shift in sentiment. The weakening MACD momentum and declining RVI emphasize caution, especially if the pair fails to hold above 0.6211. Traders should monitor today's key US economic data and Australian developments, as these could introduce significant volatility.

Disclaimer: The analysis provided for AUD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.16.2025

EURUSD Daily Technical and Fundamental Analysis for 01.17.2025 (https://fxglory.com/2025/01/17/eurusd-daily-technical-and-fundamental-analysis-for-01-17-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD pair is heavily influenced by economic reports and central bank policies from both the European Central Bank (ECB) and the US Federal Reserve. The Eurozone's current economic focus is on inflation metrics and trade balances. With the ECB's monetary policy still leaning towards cautious tightening, any further increase in interest rates could support the euro. Meanwhile, the USD faces upcoming releases related to residential building permits and factory output, which will offer insights into the strength of the US economy. Given the global economic outlook, the USD is expected to hold steady or show signs of further weakness if the data disappoints.

Price Action:
The EURUSD chart for the H4 timeframe shows a clear bearish trend over the past few weeks. The EUR USD price has struggled to maintain above the mid-Bollinger Band, with an overall downward pressure indicated by the tightness of the Bollinger Bands. Despite a brief return to the middle band, the bearish candles indicate that sellers are still in control. A trendline running through the chart highlights a possible continuation of the downward pressure. The market has tested key support areas without much follow-through in price action, indicating a potential break or consolidation soon.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands have tightened, indicating that volatility in EUR/USD is decreasing. The price has been fluctuating between the middle and lower bands. After moving from the lower band, the price has struggled to hold above the middle band, indicating that the market may not have sufficient momentum to push higher, and could be preparing for another dip.
Parabolic SAR (Stop and Reverse): The Parabolic SAR is showing spots above the candles, signaling a bearish trend. This is consistent with the ongoing price action, which suggests that the market is likely to continue in its bearish direction unless a reversal occurs with stronger momentum.
RSI (Relative Strength Index): The RSI currently sits at 49.94, suggesting that the EURUSD is in a neutral zone, neither overbought nor oversold. This indicates that there is still room for further downward movement or an eventual reversal, depending on market conditions.
MACD (Moving Average Convergence Divergence): The MACD is showing a very slight negative divergence with the histogram below the zero line, indicating a weakening bearish momentum. However, the EUR-USD price is still below the signal line, suggesting that the bearish trend could persist unless a stronger bullish crossover occurs.
%R (Williams Percent Range): The Williams Percent Range (%R) sits at -68.43, indicating that the price is approaching oversold conditions but has not yet reached the extreme levels. This suggests potential for a reversal if buying pressure intensifies, but for now, the market remains largely bearish.

Support and Resistance:
Support: The immediate support is at 1.01773, which has acted as a significant level for EURUSD price consolidation in recent weeks. A breakdown below this level could open the door for further downside toward 1.0100.
Resistance: The nearest resistance is around 1.03200, with further resistance seen at 1.03435, which coincides with recent highs and the middle Bollinger Band. A clear break above this level could signal a potential shift to a more neutral or bullish bias.

Conclusion and Consideration:
EUR/USD continues to face a challenging market environment, as the EUR USD pair remains within a clear bearish trend. The technical indicators point towards potential further downside, but the tightening Bollinger Bands, coupled with a neutral RSI, suggest that the market is in a consolidation phase. Traders should watch the key support levels at 1.01773 and 1.0100, as a break below could signal a deeper bearish move. The upcoming data from both the Eurozone and the US will be crucial in determining the next market direction, so caution is advised.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.17.2025

USDJPY Daily Technical and Fundamental Analysis for 01.20.2025 (https://fxglory.com/2025/01/20/usdjpy-daily-technical-and-fundamental-analysis-for-01-20-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDJPY pair is trading in a dynamic environment, influenced by the World Economic Forum (WEF) meetings scheduled today. Comments from central bankers and policymakers during this event could trigger significant market volatility for both the USD and JPY. Meanwhile, a U.S. bank holiday for Martin Luther King Jr. Day is expected to reduce liquidity, potentially leading to erratic price swings. On the JPY side, market sentiment may be shaped by the release of machine orders and industrial production data from Japan. These indicators, key measures of economic activity, could provide insights into the health of the Japanese economy and its impact on the yen.

Price Action:
The USD/JPY pair in the H4 timeframe is showing growth within a bullish trend, with 6 bullish candles in the last 7. Following a recent downtrend channel, the USD JPY price has managed to break the 50% Fibonacci retracement level and is now testing the 156.300 resistance level. Although the current momentum favors bulls, the price faces potential consolidation near this zone as the market awaits further fundamental triggers.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands initially expanded during the recent bearish move but are now narrowing as the price stabilizes. The current candle is trading near the middle band, indicating a possible slowdown in momentum as the pair seeks direction.
MACD: The MACD line is gradually approaching the signal line from below, while the histogram reflects diminishing bearish momentum. A bullish crossover is likely if upward pressure continues, signaling stronger buying interest.
Volume: Trading volumes have been tapering off slightly, suggesting reduced market participation due to the U.S. holiday. However, any breakout from key levels could attract renewed interest.

Support and Resistance:
Support: Immediate support is located at 156.300, which aligns with the middle Bollinger Band and the 50% Fibonacci retracement level, acting as a key area for price consolidation. Secondary support is found at 154.873, corresponding to the 61.8% Fibonacci retracement and a recent price low.
Resistance: The nearest resistance level is at 157.600, coinciding with the upper boundary of the descending channel and a key psychological level. Further resistance is located at 159.460, aligning with the 23.6% Fibonacci retracement level and previous swing highs.

Conclusion and Consideration:
The USDJPY pair on the H4 chart shows signs of recovery within a broader bullish framework. The narrowing Bollinger Bands, combined with a potential MACD crossover, suggest a period of consolidation or a breakout on the horizon. Traders should watch for volatility stemming from the World Economic Forum and Japanese economic releases, which could push the USD-JPY pair decisively through support or resistance levels. Given the low liquidity caused by the U.S. bank holiday, irregular volatility should be anticipated.

Disclaimer: The analysis provided for USD/JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDJPY. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.20.2025

EURCAD Daily Technical and Fundamental Analysis for 01.21.2025 (https://fxglory.com/2025/01/21/eurcad-daily-technical-and-fundamental-analysis-for-01-21-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, the EURCAD pair is influenced by economic releases from both the Eurozone and Canada. The Eurozone will see the release of the German ZEW Economic Sentiment and the broader ZEW Economic Sentiment for the Eurozone, which are indicators of investor sentiment and economic expectations. A higher reading might support the Euro, signaling economic optimism in the region. For Canada, there is a significant release of inflation data, including CPI m/m, Median CPI y/y, and Core CPI m/m. With the potential for inflation to come in lower than expected (-0.7% m/m versus 0.0% forecast), this could indicate a cooling economy, possibly weakening the CAD. Traders will be looking for these economic prints to provide direction for the EURCAD pair.

Price Action:
The EURCAD pair on the H4 timeframe is currently experiencing a bullish trend. The price recently broke above the Ichimoku Cloud, a key technical indicator, signaling a shift to a bullish market sentiment. As the price continues to trend higher, it has cleared key resistance levels, indicating that the buyers are in control. A possible continuation of this upward movement is expected, given that the RSI remains below 70, indicating that the market has not yet reached overbought conditions. The recent price action shows an upward momentum, with minor retracements being bought into, suggesting a strong bullish bias.

Key Technical Indicators:
Ichimoku Cloud: The price has recently broken above the Ichimoku Cloud, signaling a bullish market condition. The Chikou Span is above the price, and the Tenkan-Sen and Kijun-Sen lines are both pointing upwards, reinforcing the positive outlook.
RSI (Relative Strength Index): The RSI is currently at 64.74, comfortably below the 70 overbought threshold. This suggests there is still room for further bullish movement without entering overbought territory. As the market remains in healthy bullish conditions, the RSI confirms that the momentum is still positive and that a continuation of the trend is likely.

Support and Resistance Levels:
Support: The lower points of the recent candles around 1.48677 and 1.48555 serve as the immediate support level.
Resistance: The most recent resistance levels around the current price locate around 1.49360 and 1.50000 (psychological level).

Conclusion and Consideration:
The technical analysis of EURCAD suggests a bullish outlook, supported by the recent break above the Ichimoku Cloud, the healthy RSI reading, and the overall upward price action. The pair is likely to continue its bullish trend as long as the price remains above the identified support levels, with potential target resistance at 1.49360 and 1.49740. However, given the upcoming economic releases today, including inflation data from Canada and sentiment indices from the Eurozone, there could be increased volatility. Traders should keep an eye on these data points, as any surprises could influence the direction of the pair in the short term.

Disclaimer: The analysis provided for EUR/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.21.2025

USDCAD H4 Technical and Fundamental Analysis for 01.23.2025 (https://fxglory.com/2025/01/23/usdcad-h4-technical-and-fundamental-analysis-for-01-23-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, USDCAD traders will be paying close attention to key economic indicators and events affecting both the USD and CAD. On the CAD side, Statistics Canada will release Core Retail Sales data, a primary gauge of consumer spending. Positive retail figures could bolster CAD strength, as they reflect healthy economic activity. Additionally, the World Economic Forum in Davos might feature remarks from Canadian policymakers, potentially influencing the market.
For the USD, initial jobless claims from the Department of Labor are scheduled, serving as an essential indicator of labor market health. Lower-than-expected claims could reinforce USD strength. Additionally, developments in energy inventories and global crude oil prices will significantly impact CAD due to Canada's reliance on the energy sector. Lastly, the World Economic Forum could spark USD volatility through central bank commentary.

Price Action:
The USDCAD pair has been in a bullish trend on the H4 timeframe but exhibits fluctuating behavior between bullish and bearish movements. The USD/CAD price has been oscillating between the 38.2% and 23.6% Fibonacci retracement levels. Currently, the price is inching toward the 23.6% level, indicating potential further bullish movement. The USD CAD price has also rebounded from the lower Bollinger Band and is now aligning closer to the middle band, signifying improving bullish momentum.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands are widening, indicating increasing volatility. After testing the lower band, the price has moved toward the middle band, reflecting growing bullish sentiment. A sustained move above the middle band could confirm a continuation of the bullish trend.
Relative Strength Index (RSI): The RSI is currently at 50.36, sitting in neutral territory. This indicates neither overbought nor oversold conditions, leaving room for the USDCAD price to move higher. An upward push beyond 60 would signal strengthening bullish momentum.
MACD (Moving Average Convergence Divergence): The MACD histogram remains slightly negative but shows signs of recovery. The MACD line is approaching the signal line, suggesting that bullish momentum is building. A crossover into positive territory would confirm a bullish reversal.

Support and Resistance:
Support: Immediate support is located at 1.4320, aligning with the 50% Fibonacci retracement level and the lower Bollinger Band. A further drop would find stronger support at 1.4250, which coincides with recent lows and a critical psychological level.
Resistance: The nearest resistance is at 1.4385, situated at the 23.6% Fibonacci retracement level and close to the middle Bollinger Band. A breakout above this level would target the next significant resistance at 1.4450, aligning with the upper Bollinger Band and recent swing highs.

Conclusion and Consideration:
The USD-CAD H4 chart analysis suggests the bullish trend remains intact, supported by key indicators such as Bollinger Bands, RSI, and MACD. However, fluctuations between the 38.2% and 23.6% Fibonacci levels reflect short-term uncertainty. Traders should watch for a break above 1.4385 for bullish confirmation, while a dip below 1.4320 could signal bearish risks. Given today’s upcoming CAD Retail Sales data and USD labor market figures, volatility is likely. Traders should remain cautious of potential sharp moves. Energy inventory releases could also influence CAD due to oil market sensitivity.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.23.2025

GBPUSD H4 Technical and Fundamental Analysis for 01.24.2025 (https://fxglory.com/2025/01/24/gbpusd-h4-technical-and-fundamental-analysis-for-01-24-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD currency pair represents the exchange rate between the British Pound (GBP) and the US Dollar (USD), a popular forex pair due to its volatility and liquidity. Today’s economic calendar highlights several key events that could influence GBP USD forex pair. On the USD side, PMI figures for both manufacturing and services, along with home sales data, provide critical insights into the economic outlook. Robust PMI readings could strengthen the dollar by signaling economic expansion. Meanwhile, the UK releases include consumer confidence and PMI data, which are crucial for understanding market sentiment toward the Pound. Positive GfK consumer confidence and manufacturing PMI data could provide a boost to GBP, while weaker-than-expected figures could weigh on its performance.

Price Action:
The GBPUSD pair has been trading within a slight bullish channel, gradually climbing from its lower boundary toward the upper boundary. Currently, the GBP-USD price has bounced from the middle Bollinger Band and reached the upper band, though the last two candlesticks are red, indicating a potential pullback or consolidation. The overall price movement reflects steady upward momentum, but bearish candlesticks suggest sellers are testing the upper boundary's strength.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands indicate a mild bullish trend, with the GBP/USD price moving from the middle band toward the upper band. The last two bearish candles after touching the upper band suggest a possible retracement toward the middle band or consolidation around current levels.
Parabolic SAR: The Parabolic SAR shows an upward bias, with its last three dots positioned below the candles, supporting the ongoing bullish trend. However, traders should monitor closely for any reversal in the SAR placement, as it could signal a weakening trend.
RSI (Relative Strength Index): The RSI is currently at 58.63, suggesting a neutral-to-bullish momentum. It indicates that the market still has room to rise without being overbought, though the slight decline reflects the GBP USD pair’s recent bearish candlesticks.

Support and Resistance:
Support: Immediate support is located at 1.2280, which aligns with the middle Bollinger Band and a recent consolidation area. Further support lies at 1.2200, the lower boundary of the ascending channel and a psychological level.
Resistance: The nearest resistance level is at 1.2350, coinciding with the upper boundary of the ascending channel. A stronger resistance is at 1.2400, aligning with recent highs and acting as a psychological barrier.

Conclusion and Consideration:
The GBPUSD pair on the H4 chart is showing a gradual bullish trend within an ascending channel, supported by technical indicators such as Bollinger Bands and Parabolic SAR. However, the red candles near the upper Bollinger Band suggest a possible pullback or consolidation. RSI readings indicate room for further upward movement, though traders should remain cautious of potential reversals.
Today’s news releases, particularly the US and UK PMI figures, along with consumer confidence data, could introduce significant volatility. A strong PMI from the US could pressure GBP-USD lower, while upbeat UK data may provide further support for the Pound. Traders are advised to closely monitor the upcoming news and consider key support and resistance levels when making trading decisions.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.24.2025

AUDUSD Daily Technical and Fundamental Analysis for 01.28.2025 (https://fxglory.com/2025/01/28/audusd-daily-technical-and-fundamental-analysis-for-01-28-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUDUSD currency pair reflects the exchange rate between the Australian Dollar (AUD) and the US Dollar (USD). Today, the Australian Consumer Price Index (CPI) data was released, showing quarterly growth of 0.3%, slightly above the forecast of 0.2%. On an annual basis, CPI stands at 2.5%, aligning with expectations and indicating a steady inflationary environment. The Trimmed Mean CPI, which excludes volatile items, reported 0.6%, slightly below the forecast of 0.8%, suggesting subdued core inflation.
For the USD, critical data releases include Core Durable Goods Orders and Durable Goods Orders later in the day, with expectations of 0.4% and 0.3% growth respectively. Additionally, the CB Consumer Confidence Index, projected at 105.7, will provide insights into consumer sentiment, potentially impacting the USD’s performance. This combination of economic data points may lead to increased volatility for the AUDUSD pair.

Price Action:
The AUDUSD H4 chart indicates that the pair is currently in a correction phase following a strong bearish wave. The correction trend line has been broken, signaling the potential continuation of the broader bearish trend. Price action shows a rejection from resistance near 0.63000, with the pair now consolidating below this level. Recent candles indicate weakening bullish momentum, and sellers appear to be regaining control.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI is displaying a weak bearish divergence, currently at 48, indicating that bearish momentum is building but is not yet overextended. This supports the view of a potential continuation of the bearish wave.
MACD (Moving Average Convergence Divergence): The MACD histogram confirms bearish momentum, with a crossover below the signal line and increasing negative histogram bars. This aligns with the trendline break and suggests further downside potential.

Support and Resistance:
Support: Immediate support levels are identified at 0.62665, 0.62380, and 0.62300. These levels will be critical for assessing the strength of bearish pressure.
Resistance: Resistance levels are located at 0.63000, 0.63235, and 0.63520. Any sustained break above these levels would invalidate the bearish scenario.

Conclusion and Consideration:
The AUDUSD pair on the H4 chart is in a correction phase, but the bearish trend appears likely to resume, supported by the broken corrective trendline and confirmation from the RSI and MACD. Traders should monitor key support levels for potential bearish continuation and watch for a rejection at resistance levels to validate the downtrend. Upcoming US economic data, particularly Durable Goods Orders and CB Consumer Confidence, could introduce additional volatility. Caution is advised given the mixed inflation data from Australia and the potential for USD strength later in the session.

Disclaimer: The analysis provided for AUD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.28.2025

SILVERUSD Daily Technical and Fundamental Analysis for 01.30.2025 (https://fxglory.com/2025/01/30/silverusd-daily-technical-and-fundamental-analysis-for-01-30-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
Silver (XAG/USD) remains a key asset in the commodities market, influenced by economic data, geopolitical risks, and inflationary trends. Today, the US economic calendar includes GDP growth figures, jobless claims, and inflation reports, which will play a significant role in shaping USD strength and, consequently, silver prices. Strong GDP data could boost the dollar, leading to downward pressure on silver, while weak figures may drive silver prices higher as investors seek safe-haven assets. Additionally, the pending home sales report and natural gas inventory data may impact overall market sentiment, influencing silver demand. Given the Federal Reserve’s upcoming policy decisions, traders are closely watching for clues on future interest rate adjustments, which could affect the opportunity cost of holding non-yielding assets like silver.

Price Action
Silver’s H4 chart analysis suggests that the price action has been bullish in recent sessions. The price recently broke above the Ichimoku cloud, indicating a shift in momentum. However, it has reached the 0% Fibonacci retracement level, which has acted as a strong resistance zone multiple times this month. If silver fails to break and sustain above this level, a retracement towards 30.50 or 30.17 is possible. Conversely, a confirmed breakout above resistance could lead to a continuation towards 31.00 and beyond. The current candles indicate strong bullish pressure, but overbought conditions in momentum indicators suggest a possible correction before further upside.

Key Technical Indicators
Ichimoku Cloud: The price has broken above the Ichimoku cloud, signaling a potential bullish continuation. The green cloud below the price suggests a supportive trend, while the 0% Fibonacci level remains a key resistance. If silver fails to break higher, a pullback towards the cloud’s upper boundary could occur before another attempt to rally.
Adaptive Moving Average (Period 9, Fast EMA 2, Slow EMA 30): Silver’s candles have crossed above the moving average line, indicating strong bullish momentum. The price action remains above the EMA 30, suggesting that the short-term trend remains positive. As long as silver stays above this moving average, the bullish outlook remains intact.
RSI (Relative Strength Index 14): The RSI is currently at 62.33, indicating bullish momentum but not yet in overbought territory. This suggests that there is still room for further upside before reaching exhaustion. However, traders should watch for potential divergence or a move above 70, which could indicate overbought conditions and a potential reversal.
Williams %R (14): The Williams %R indicator is at -12.31, signaling that silver is nearing overbought conditions. This suggests that while bullish momentum is strong, a short-term pullback or consolidation may occur before another upward push.

Support and Resistance Levels
Resistance: The first key resistance is at 30.88, aligning with the 0% Fibonacci retracement, a strong barrier this month. A breakout could lead to 31.00, a psychological resistance, with further upside toward 31.20 - 31.50.
Support: Immediate support lies at 30.50 (23.6% Fibonacci retracement), followed by 30.17 (38.2% Fibonacci retracement). If bearish pressure increases, 29.84 (50% Fibonacci retracement) will be a crucial level to watch.

Conclusion and Consideration
Silver (SILVERUSD) on the H4 chart shows a bullish trend, supported by a break above the Ichimoku cloud, a moving average crossover, and strong RSI momentum. However, the Fibonacci 0% resistance at 30.88 has held firm, making it a key level to watch. If silver breaks above this resistance, a rally towards 31.00 or higher is likely. Conversely, failure to break could lead to profit-taking and a retracement towards 30.50 or lower.
Upcoming US economic data releases, particularly GDP growth and jobless claims, could introduce volatility. A stronger USD may weigh on silver prices, while weaker data could support further gains. Traders should monitor key support and resistance levels closely and adjust their strategies accordingly.

Disclaimer: The analysis provided for SILVER/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on SILVERUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.30.2025

GOLD (XAU/USD) H4 Technical and Fundamental Analysis for 01.31.2025 (https://fxglory.com/2025/01/31/gold-xau-usd-h4-technical-and-fundamental-analysis-for-01-31-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
Gold (XAU/USD) continues its bullish trend as investors anticipate key US economic data releases today. The Personal Consumption Expenditures (PCE) index, a crucial inflation gauge for the Federal Reserve, is set to be released, along with Personal Income and Spending reports. A higher-than-expected reading could strengthen the US dollar, potentially putting pressure on gold. However, growing expectations of a dovish Fed stance and persistent global economic uncertainties continue to support gold as a safe-haven asset. Additionally, Federal Reserve Governor Michelle Bowman’s speech could provide further clues on future monetary policy, influencing Gold/USD’s next move.

Price Action
The H4 timeframe for gold (XAU/USD) reveals a clear bullish price structure, trading within an ascending channel. The price action consistently forms higher highs and higher lows, signaling a continuation of the uptrend. Recent movement shows gold attempting to break above a key psychological level, while a rejection at the upper trendline may trigger a short-term pullback. Consolidation above this level could provide the momentum needed for further upside movement.

Key Technical Indicators
Ichimoku Cloud: The price remains well above the Ichimoku cloud, reinforcing the prevailing bullish sentiment. The Tenkan-Sen (red line) and Kijun-Sen (blue line) are trending upwards, confirming continued momentum. The cloud’s support zone aligns with recent consolidation levels, suggesting strong demand at lower levels.
Volumes: Buying interest remains strong, with volume spikes accompanying bullish moves. This confirms active participation in the uptrend. A sudden decrease in volume on further rallies may indicate exhaustion, warranting caution for potential pullbacks.
Bulls Indicator: The Bulls(13) oscillator remains positive, reflecting persistent buying pressure. The elevated levels indicate that buyers still dominate, but a declining reading while price stays high could hint at a weakening bullish trend.
RSI (Relative Strength Index - 14): The RSI is currently at 71.16, placing gold near overbought territory. While this supports strong bullish momentum, it also increases the likelihood of a short-term retracement or consolidation before another rally. A move above extreme levels may signal trend exhaustion.

Support and Resistance
Support: The ascending channel’s lower boundary at $2,750-$2,760 serves as a strong support zone, aligning with recent retracement levels.
Resistance: The $2,800 psychological level remains a key resistance; a breakout above could drive further bullish momentum toward $2,825-$2,850.

Conclusion and Consideration
Gold (XAU/USD) maintains a strong bullish trend, supported by the Ichimoku Cloud, rising RSI, and increasing volume. The ascending channel continues to define price movement, with bulls in control. However, overbought conditions suggest a potential pullback before the next leg higher. Today’s US PCE inflation data and Federal Reserve commentary may introduce market volatility, influencing gold’s short-term trajectory. Traders should monitor the gold price reactions at key levels and manage risk accordingly.

Disclaimer: The analysis provided for XAU/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on XAUUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
01.31.2025

AUDUSD H4 Technical and Fundamental Analysis for 02.03.2025 (https://fxglory.com/2025/02/03/audusd-h4-technical-and-fundamental-analysis-for-02-03-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The Australian Dollar (AUD) is currently facing downward pressure amid key economic data releases. The latest Melbourne Institute CPI report is expected to provide insights into consumer inflation, which directly impacts the Reserve Bank of Australia's (RBA) monetary policy stance. Meanwhile, Australian Retail Sales and ANZ Job Advertisements reports will give a clearer picture of consumer spending and employment trends. Any signs of weakening economic activity could lead to further AUD depreciation. On the USD side, the market is watching S&P Global and ISM Manufacturing PMI, which will provide a broad economic outlook for the United States. Strong manufacturing data could boost the USD, leading to further AUDUSD declines. Additionally, Federal Reserve official Raphael Bostic's speech might provide hints on future US interest rate policies, influencing market sentiment.

Price Action:
After the market opened, AUD/USD recorded a significant gap down, with price opening at a much lower level. The first few candles show two consecutive large red candles, indicating a strong bearish movement. This suggests increased selling pressure, likely fueled by fundamental catalysts favoring the USD. The price has broken below a key support zone, confirming strong bearish momentum.

Key Technical Indicators:
Ichimoku Cloud: The AUDUSD price is trading well below the Ichimoku Cloud, indicating a strong bearish trend. The Tenkan-sen (red line) and Kijun-sen (blue line) have crossed downward, reinforcing the bearish sentiment. Additionally, the future cloud is turning red, suggesting continued downside pressure.
Relative Strength Index (RSI): The RSI is currently at 25.76, deep in the oversold territory. This signals that the AUD USD pair is experiencing extreme selling pressure. However, it also suggests that a potential short-term correction or bounce might occur if buyers step in.
Volume: There is a notable increase in volume, supporting the strong bearish move. The high trading volume confirms that sellers are dominant in the market. However, if volume starts declining, it could indicate exhaustion of the bearish trend.

Support and Resistance Levels:
Support: Support level is seen around 0.6090, where price may stabilize; a break below could drive it toward 0.6050.
Resistance: Resistance level is near 0.6220, the previous breakdown level, with further resistance at 0.6285, aligning with the Ichimoku Cloud.

Conclusion and Consideration:
The AUDUSD H4 technical analysis indicates a strong bearish trend, supported by key technical indicators like Ichimoku Cloud, RSI, and Volume Analysis. Fundamentally, the strong USD data and weak AUD economic outlook are further driving the AUD-USD pair downward. While RSI suggests oversold conditions, the overall market sentiment remains bearish unless a significant catalyst reverses the trend. Traders should closely monitor upcoming Retail Sales and PMI data, which could introduce volatility. If economic data continues to favor the USD, further downside movement is likely. However, a technical bounce from oversold conditions is also possible.

Disclaimer: The analysis provided for AUD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.03.2025

NZDUSD H4 Technical and Fundamental Analysis for 02.04.2025 (http://"https://fxglory.com/2025/02/04/nzdusd-h4-technical-and-fundamental-analysis-for-02-04-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The NZD/USD forex pair is currently facing significant market influences, driven by both New Zealand and U.S. economic data releases. Today, key U.S. reports, including the JOLTS Job Openings (expected 8.01M, prior 8.10M) and Factory Orders m/m (-0.7% expected, previous -0.4%), will provide insight into the U.S. labor market and manufacturing sector. Additionally, speeches by FOMC members Bostic and Daly could impact USD sentiment, particularly if they hint at future monetary policy changes.
On the New Zealand side, the GDT Price Index (forecasted at 1.4%) and Employment Change q/q (-0.2% expected, prior -0.5%) will play a key role in determining NZD movement. The Unemployment Rate is expected to rise to 5.1% from 4.8%, indicating potential labor market weakness, which may add bearish pressure on the NZD. Given these factors, the NZDUSD fx pair could experience increased volatility, with a higher probability of USD strength dominating the market.

Price Action:
After a strong bearish trend, NZD/USD has attempted a retest of the lost support zone in the form of a bullish correction. The price is currently trading around 0.56100, which aligns with an immediate resistance level. If this level holds, the NZD-USD pair could resume its downward movement. The recent price action shows a series of lower highs and lower lows, reinforcing the bearish structure. A failure to break above 0.56570 would likely push the NZD USD pair toward lower support levels.

Key Technical Indicators:
Relative Strength Index (RSI): The RSI is currently at 40, signaling a bearish trend. This indicates that sellers are in control, but there is still room for further downside before entering oversold territory. If the RSI drops below 30, it could suggest an oversold condition, potentially leading to a short-term reversal or consolidation.
Volume Indicator: The volume indicator is showing a positive reaction to the bearish phase, reinforcing the possibility of a continued downward trend. Increased selling volume suggests that bearish sentiment remains strong, reducing the likelihood of a sustained bullish correction.

Support and Resistance:
Support: Immediate support levels are identified at 0.55430, 0.55160, and 0.55000. These levels could be considered as targets for the upcoming bearish wave.
Resistance: Resistance levels are located at 0.56100, 0.56570, and 0.57250. Any sustained break above these levels would invalidate the bearish scenario.

Conclusion and Consideration:
The NZD/USD pair remains in a bearish structure, supported by key technical indicators, including RSI, volume, and MACD. The recent price action suggests that the bearish correction phase could continue if resistance at 0.56100 holds. Upcoming economic events, particularly U.S. labor market data and New Zealand employment reports, will play a crucial role in determining short-term price action. Traders should closely monitor resistance and support levels for potential breakout or continuation signals.

Disclaimer: The analysis provided for NZD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on NZDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.04.2025

EUR/USD H4 Technical and Fundamental Analysis (https://fxglory.com/2025/02/05/eur-usd-h4-technical-and-fundamental-analysis/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD pair remains influenced by key economic events scheduled for today. On the USD side, multiple Federal Reserve (FOMC) members are set to speak, including Governor Philip Jefferson and Richmond Fed President Thomas Barkin. These speeches may provide insights into future monetary policy, which could impact the U.S. dollar’s strength. Additionally, the U.S. trade balance report and ISM Services PMI data are expected, adding further volatility to the market. For the EUR, upcoming Industrial Production and Services PMI reports are crucial for gauging economic strength within the Eurozone. A stronger-than-expected print may support the euro, while weaker data could extend the current bearish pressure on EUR/USD. Given the hawkish Fed expectations, the U.S. dollar could maintain its dominance unless there is a significant shift in tone from policymakers.

Price Action Analysis:
After a gap occurred, the price reacted to its support level at 1.02194, forming several doji candles, indicating market indecision. Following the gap closure, the price has broken the first resistance trendline and is now heading toward the second and third resistance levels. The price is currently moving within a descending channel, and a confirmed break above the next trendline resistance could shift the market structure towards a more bullish scenario.

Key Technical Indicators:
Alligator Trend Line: The alligator lines are beginning to cross upwards, indicating a potential bullish trend. If the price sustains above this pattern, further upside movement could be confirmed.
RSI (Relative Strength Index): The RSI is currently at 53.39, suggesting neutral momentum. However, if it moves beyond 60, a stronger bullish bias may develop.

Support and Resistance Levels:
Support: The nearest support level is positioned at 1.02194, which was previously tested during the price drop before the gap closure.
Resistance: The immediate resistance levels stand at 1.03768, which aligns with the broken trendline, followed by the next major resistance at 1.04500 and 1.05095, forming a descending channel's upper boundary.

Conclusion and Consideration:
The EUR/USD H4 chart analysis shows a potential shift towards bullish momentum after breaking the first descending resistance trendline. However, upcoming fundamental events, including Fed speeches and key economic data, could significantly impact price movements. Traders should monitor resistance levels closely, as a breakout above 1.03768 could confirm further upside potential. Meanwhile, a failure to sustain gains might lead to another test of support at 1.02194.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.05.2025

USDCAD H4 Technical and Fundamental Analysis for 02.06.2025 (https://fxglory.com/2025/02/06/usdcad-h4-technical-and-fundamental-analysis-for-02-06-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The USDCAD currency pair is experiencing volatility due to key economic events today. The US Dollar (USD) is impacted by multiple speeches from FOMC members Michelle Bowman, Philip Jefferson, and Christopher Waller, which may provide monetary policy signals affecting market sentiment. If their comments are hawkish, the USD could strengthen, while dovish remarks may lead to USD weakness. Additionally, Initial Jobless Claims, Challenger Job Cuts, and Productivity Reports will offer insights into the US labor market, potentially adding further USD volatility. On the Canadian Dollar (CAD) side, the Ivey PMI report is crucial; a higher-than-expected reading could strengthen CAD, driving USDCAD lower, while a weak reading could weaken CAD, pushing USD CAD higher.

Price Action Analysis
The USDCAD H4 chart shows a sharp bearish trend, followed by a minor correction in the last five candles. Four of these candles are bullish but relatively small, indicating a weak recovery attempt. The USD/CAD Price has found support at 1.4280, leading to a slight bounce, but the lack of strong bullish momentum suggests that this is likely a temporary consolidation rather than a reversal. The downtrend remains intact, and unless buyers push above key resistance levels, further bearish pressure could emerge.

Key Technical Indicators
Moving Averages (MA 9 - Blue & MA 17 - Red): The short-term MA (9) has crossed below the long-term MA (17), forming a bearish crossover, confirming a downtrend continuation signal. The moving averages are both sloping downward, reinforcing selling pressure. Despite the recent small bullish candles, the USD CAD price remains below both moving averages, meaning the bearish trend is still dominant unless price reclaims the moving averages.
Relative Strength Index (RSI 14): The RSI is at 41.82, signaling bearish sentiment but not yet oversold conditions. This suggests there is still room for further downside before the market reaches oversold territory. If the RSI remains below 50, bears remain in control, and a drop below 30 would indicate oversold conditions, potentially leading to a short-term reversal or consolidation.
Awesome Oscillator (AO): The AO is at -0.014, confirming that negative momentum is still dominant, although the histogram bars are shrinking, indicating a possible slowdown in bearish momentum. If AO turns positive, it could suggest a trend shift, but for now, the bearish trend remains intact.

Support and Resistance
Support: Immediate support is located at 1.4280, which has acted as a bounce level in recent price action, and if broken, it could push the USD/CAD price further down.
Resistance: The first resistance level is 1.4385, which aligns with recent price rejections and the 9-period moving average, while the next major resistance level is 1.4440, corresponding to the previous breakdown zone. A break above this level would challenge the bearish scenario and indicate potential bullish momentum.

Conclusion and Considerations
The USDCAD H4 technical analysis suggests a bearish trend continuation, with the bearish moving average crossover, RSI below 50, and AO still negative reinforcing the downside bias. The recent minor bullish correction lacks strong momentum, indicating a possible continuation of the downtrend unless buyers push above key resistance levels. Upcoming fundamental news events, including Ivey PMI for CAD and FOMC speeches, could drive volatility, making it crucial to monitor USDCAD price reactions. Traders should watch for a breakout or rejection at resistance levels, while a break below 1.4280 could trigger further bearish movement. Proper risk management is crucial, given the upcoming news releases that may cause sharp price fluctuations.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.06.2025

GBPUSD H4 Technical and Fundamental Analysis for 02.07.2025 (http://"https://fxglory.com/2025/02/07/gbpusd-h4-technical-and-fundamental-analysis-for-02-07-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD currency pair remains highly reactive to economic events from both the UK and the US. Today, key market-moving events include speeches from BOE Governor Andrew Bailey and BOE Chief Economist Huw Pill, which could provide insights into future monetary policy. Traders will be watching for any hawkish or dovish tones that could impact the British Pound’s direction. On the USD side, multiple Federal Reserve officials, including Mary Daly, Lorie Logan, and Michelle Bowman, are scheduled to speak. Their commentary on monetary policy, inflation trends, and labor market conditions will be crucial, especially given upcoming Non-Farm Payroll (NFP) data and unemployment figures. If the Fed officials express concerns about inflation persistence, it may strengthen the USD, leading to further downside for GBP-USD.

Price Action:
The GBP/USD pair is showing a bearish bias on the H4 timeframe. Out of the last 10 candlesticks, 8 have been bearish, reflecting strong selling pressure. The GBPUSD price recently tested the Bollinger Bands lower band, bounced toward the middle band near the 50% Fibonacci retracement level, but failed to break higher. The rejection at the middle band signals that sellers remain dominant, pushing the price back toward the 38.2% Fibonacci retracement level, which aligns with the lower Bollinger Band. A further break below this key area could send the cable toward the 23.6% Fibonacci level, indicating a continuation of the bearish trend.

Key Technical Indicators:
Bollinger Bands: The bands were wide over the past 24 hours, signaling high volatility, but have now started to tighten slightly, which could indicate an upcoming consolidation before another move. Price action suggests a bearish structure, as the price rejected the middle band and is now gravitating toward the lower band near the 38.2% Fibonacci level.
Relative Strength Index (RSI): The RSI is currently at 48.26, hovering near the neutral zone. This suggests that the market is neither oversold nor overbought, allowing room for further price action. However, the declining RSI trend reflects increasing bearish momentum.
Volumes: Recent volume spikes indicate strong market participation, particularly during downward moves. The last large bearish candle had a significant volume increase, suggesting that sellers are still in control. If volume remains high on further price drops, this would reinforce bearish momentum.

Support and Resistance Levels:
Support: Immediate support is at 1.2307 (38.2% Fibonacci retracement). A break below could push GBPUSD toward 1.2260 (23.6% Fibonacci and recent lows), reinforcing bearish momentum.
Resistance: The first resistance is 1.2480 - 1.2570 (61.8% Fibonacci and previous rejections). A breakout could challenge 1.2500 (psychological level and middle Bollinger Band), signaling a potential shift in momentum.

Conclusion and Consideration:
The GBP/USD pair on the H4 timeframe continues to exhibit bearish price action, struggling to hold above key support levels. The rejection at the middle Bollinger Band and 50% Fibonacci level suggests further downside potential, with the next key target at 1.2307 and possibly 1.2260 if selling pressure persists. Fundamentally, the BOE speeches today could introduce volatility, while Fed speakers may reinforce USD strength, further pressuring the GBP USD pair. Traders should closely monitor upcoming market events and consider risk management strategies in case of sudden cable price spikes.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.07.2025

GOLDUSD H4 Technical and Fundamental Analysis for 02.10.2025 (http://"https://fxglory.com/2025/02/10/goldusd-h4-technical-and-fundamental-analysis-for-02-10-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The price of Gold (XAU/USD) remains highly sensitive to macroeconomic conditions and upcoming fundamental data releases. Today, the market is closely watching the Survey of Firms' Inflation Expectations from the Federal Reserve Bank of Cleveland. If inflation expectations rise, it could signal potential hawkish monetary policy from the Fed, strengthening the USD and pressuring Gold prices. Conversely, lower inflation expectations may support Gold as an inflation hedge. Additionally, broader market sentiment around interest rate decisions and geopolitical risks could drive gold price action. Investors will also monitor the US Dollar Index (DXY) for signs of strength or weakness, influencing Gold’s movement.

Price Action
Gold has been in a strong uptrend, continuously making new all-time highs over the past few weeks. However, after failing to break the previous ATH, the price action has formed a double-top reversal pattern, suggesting potential downside correction before a continuation of the bullish move. The last red candlestick with a long lower wick indicates strong rejection at the ATH level, reinforcing a temporary pullback. The first support level is the ascending trendline (green), and if the correction continues, the second support level lies around 2830. If the price finds strong demand at these levels, the bullish structure may resume, aiming for new all-time highs.

Key Technical Indicators
Parabolic SAR: The last three Parabolic SAR dots are positioned below the price, confirming that the bullish trend remains intact. However, a shift in position above the price would indicate a potential trend reversal.
Bollinger Bands: Gold is currently supported by the middle Bollinger Band (20-period moving average). If the price continues to correct lower, it may test the lower Bollinger Band, acting as dynamic support. If the price rebounds from the middle band, the uptrend remains valid.
RSI (Relative Strength Index): The RSI is currently at 62.48, still below the overbought threshold (70). This indicates that Gold has room for further upside, but a break below 50 could suggest increasing bearish momentum.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, indicating a bullish momentum; however, the histogram shows weakening bullish strength, suggesting a potential consolidation or correction before another upward movement.
%R (Williams %R): The %R indicator is currently at -37.17, which is close to the overbought zone but still within neutral territory. If the value moves further downward, it may indicate a potential short-term correction.

Support and Resistance Levels
support: Immediate support is located at 2854 (green ascending trendline). If broken, the next key level is at 2830, a recent demand zone.
Resistance: Major resistance remains at 2871, which aligns with the last all-time high. A breakout above this level could lead to new record highs, pushing Gold towards 2900 and beyond.

Conclusion and Considerations
Gold’s overall trend remains bullish, but the formation of a double-top pattern suggests that a short-term pullback is likely before another leg higher. Traders should watch the key support zones at 2854 and 2830, as a bounce from these areas could indicate a continuation of the uptrend. Meanwhile, breaking below these levels might trigger further correction. The RSI, MACD, and Parabolic SAR confirm that bullish momentum is still present, but some caution is warranted due to weakening momentum signals. The upcoming Survey of Firms' Inflation Expectations could influence the USD, thereby impacting Gold prices. If the report suggests higher inflation expectations, USD strength could push Gold lower, whereas weaker expectations could support Gold’s rally.

Disclaimer: The analysis provided for XAU/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on XAUUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.10.2025

USDJPY H4 Technical and Fundamental Analysis for 02.11.2025 (http://"https://fxglory.com/2025/02/11/usdjpy-h4-technical-and-fundamental-analysis-for-02-11-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/JPY currency pair is influenced by the current market sentiment, economic data, and central bank policies. Today, the Japanese Yen (JPY) is expected to have low liquidity due to a Bank Holiday in Japan. This could lead to reduced volatility in the early session. However, significant movement is anticipated later due to multiple speeches from U.S. Federal Reserve (Fed) officials, including Fed Chair Jerome Powell's testimony at 5:00 PM GMT+2. PowellÂ’s comments will likely provide insights into future interest rate decisions, which could lead to increased volatility in USD-related pairs. Additionally, FOMC Members Hammack, Bowman, and Williams will speak later, adding to potential market fluctuations. Traders should closely monitor these events, as any hawkish or dovish remarks could drive significant price action in USDJPY.

Price Action:
The USDJPY H4 chart shows a bearish trend over the past several days. The pair recently started a weak correction phase, attempting to retrace some of its losses. The USD JPY price today is hovering near the lower Bollinger Band, indicating that selling pressure is still strong but also hinting at a possible short-term rebound. If the correction gains momentum, a test of key resistance levels is possible. However, a failure to hold recent gains could see the USD JPY pair continue its downtrend.

Key Technical Indicators:
Bollinger Bands: The price is near the lower Bollinger Band, signaling that the market is in a bearish trend but also suggesting a potential short-term correction. If the USD/JPY price fails to break above the middle band, the downtrend is likely to resume.
Volume Indicator: The volume is also in a bearish trend, confirming that selling pressure remains dominant. However, there are signs that the volume may be decreasing, indicating a potential end to the correction phase soon.
Relative Strength Index (RSI): The RSI is currently at 42.00, which means the USD-JPY is not yet in the oversold zone (below 30). This suggests that there is still room for further downside, but a potential reversal could be near if RSI moves lower and approaches oversold conditions.

Support and Resistance:
Support: Immediate support levels are identified at 150.000, 149.300, and148.500. These levels could be considered as targets for the upcoming bearish wave.
Resistance: Resistance levels are located at 152.500, 153.000, and 153.800. Any sustained break above these levels would invalidate the bearish scenario.

Conclusion and Consideration:
The USDJPY H4 analysis suggests that the pair is still in a bearish phase, but a short-term correction is underway. The Bollinger Bands, RSI, and Volume indicators indicate that while selling pressure remains strong, a temporary rebound is possible. However, todayÂ’s Fed Chair PowellÂ’s speech at 5:00 PM GMT+2 and other FOMC membersÂ’ speeches could significantly impact the USD, leading to sharp price movements. Given the low liquidity from the JPY side due to the Bank Holiday, traders should be cautious of sudden volatility spikes. Traders should monitor key support and resistance levels closely and adjust their trading strategies based on upcoming Fed comments. A break below 150.750 could extend the downtrend, while a push above 152.500 might signal a stronger recovery.

Disclaimer: The analysis provided for USD/JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDJPY. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.11.2025

USDCAD H4 Technical and Fundamental Chart Daily Analysis for 02.12.2025 (https://fxglory.com/2025/02/12/usdcad-h4-technical-and-fundamental-chart-daily-analysis-for-02-12-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDCAD currency pair may see heightened volatility today and in the coming sessions due to a series of scheduled US and Canadian economic events. On the US side, traders will look closely at upcoming Consumer Price Index (CPI) releases on March 12, 2025, as well as comments from Federal Reserve Chair Jerome Powell and other FOMC members, which can offer critical clues on the US interest rate path. Meanwhile, the Canadian Dollar (CAD) could react significantly to the Bank of Canada (BOC) Minutes release set for March 26, 2025, and crude oil inventory reports given Canada’s sizable energy sector. These factors, combined with ongoing market sentiment around inflation and economic growth, may create a catalyst for a new price direction on the USD-CAD H4 chart.

Price Action:
The USD/CAD chart shows that the pair has been stuck for quite some time in a range channel (as indicated by the two blue horizontal lines). A recent breakout attempt above the channel failed, and price action has since retested the lower boundary twice, hinting at building downside pressure. The red cycle line visible on the chart suggests the timing for a new directional move may be near, and the formation of consecutive bearish candles signals a rising possibility of a sustained break below the channel support. Traders should monitor how the pair behaves around this critical zone, as a confirmed break could trigger a fresh downward trend.

Key Technical Indicators:
Bollinger Bands: The three Bollinger Bands on the USD-CAD chart (the moving average center line, plus the upper and lower standard deviation lines) have converged closer together, indicating a period of lower volatility. Such tightening bands frequently precede a breakout move, highlighting the potential for a strong price action shift once volatility returns. The price has gravitated near the lower Band in recent sessions, reflecting a growing bearish bias. This contraction phase can end abruptly if the pair breaks convincingly below the channel support.
Parabolic SAR: The last three Parabolic SAR dots have formed above the most recent candles, illustrating that downside momentum is beginning to dominate. When the dots remain above price bars, it typically suggests a short-term downtrend. A continuation of this pattern will reinforce bearish sentiment and further align with the notion of a pending channel breakdown. Traders often look for price and Parabolic SAR alignment to confirm momentum direction.
RSI (Relative Strength Index): The RSI reading near 39 indicates that momentum is leaning to the downside without having reached oversold territory yet. An RSI below 50 generally reflects a bearish outlook, though there is still room for additional selling pressure before oversold conditions emerge. If RSI continues to drop, it could validate increased bearish control. Conversely, a move back above 50 might signal a swing in momentum favoring buyers.

Support and Resistance:
Support: Immediate support rests around the 1.4230 level, the lower boundary of the established price channel. A decisive close below this threshold could open the door toward the 1.4100 mark, which stands as the next notable support.
Resistance: Key resistance is observed near 1.4450, aligning with the channel’s upper boundary. An additional resistance hurdle waits around 1.4700, which coincides with prior swing highs and could test bullish commitments if price surges upward.

Conclusion and Consideration:
The USD Vs. CAD pair appears poised for a potential breakout from its prolonged consolidation, and current technical indicators skew bearish. While a downside break remains likely given the failed attempt to breach the channel top and repeated tests of the lower boundary, major fundamental releases—such as US CPI and BOC Minutes—could inject sudden volatility and shift momentum. Traders conducting a technical and fundamental chart daily analysis for USDCAD should monitor both the market’s reaction to upcoming news and the price action around critical support and resistance levels. Caution and diligent risk management remain key, especially if a definitive channel break to the downside materializes.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.12.2025

GBPUSD H4 Technical and Fundamental Analysis for 02.13.2025 (https://fxglory.com/2025/02/13/gbpusd-h4-technical-and-fundamental-analysis-for-02-13-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBPUSD pair is poised for volatility due to several key economic releases today. For the British Pound (GBP), the RICS Housing Price Balance report could influence market sentiment as it serves as an early indicator of housing inflation trends. Additionally, upcoming GDP, Construction Output, Trade Balance, and Industrial Production reports in the following days will further shape market expectations regarding the UK economy.
On the US Dollar (USD) side, a press conference by US President Donald Trump and a speech by Federal Reserve Governor Christopher Waller about stablecoins could introduce significant market movement. Additionally, US Producer Price Index (PPI) data is scheduled, serving as a leading indicator of inflation. The combination of UK economic reports and US policy discussions may drive volatility in the GBPUSD pair, making price action highly reactive to today’s scheduled events.

Price Action:
On the GBPUSD H4 chart, the price has been fluctuating between Fibonacci retracement levels, indicating a mix of bullish and bearish pressure. Recently, a bullish recovery has been observed as the GBP/USD price approaches a key resistance level. The market sentiment suggests buyers are attempting to push the price higher, though a strong breakout is required to confirm further upside momentum. Candlestick formations suggest increased volatility, with recent wicks showing both buying and selling pressure.

Key Technical Indicators:
Bollinger Bands: The price recently touched the upper Bollinger Band and pulled back slightly, suggesting resistance at this level. Currently, the price is once again moving closer to the upper band, indicating a potential continuation of the bullish momentum. If the GBP USD price breaks above the band with high volume, it could signal an expansion in volatility and further upside movement.
Parabolic SAR: The Parabolic SAR dots (aqua-colored) are positioned below the candles, indicating an ongoing bullish trend. The consecutive SAR dots below price action provide confirmation that buyers are in control. However, if the dots shift above the GBP-USD price, it may signal a reversal or a period of consolidation.
MACD (Moving Average Convergence Divergence): The MACD histogram is currently positive, indicating bullish momentum. The MACD line is above the signal line, suggesting continued upward pressure. However, the momentum appears moderate, meaning traders should monitor for any signs of divergence or a bearish crossover that could indicate a potential reversal.

Support and Resistance Levels:
Support: The nearest support level is at 1.2340, aligning with the 61.8% Fibonacci retracement level, which has acted as a strong demand zone.
Resistance: The key resistance level is at 1.2490, where the price has faced rejection multiple times. A breakout above this level could open the door for further upside movement.

Conclusion and Consideration:
The GBPUSD H4 analysis suggests bullish momentum, supported by Bollinger Bands, Parabolic SAR, and MACD indicators. However, resistance at 1.2490 remains a key hurdle for further price appreciation. With important UK and US economic data releases today, traders should expect increased volatility. A break above resistance could confirm further bullish momentum, while failure to do so may result in a pullback towards key support levels.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.13.2025

BTCUSD H4 Technical and Fundamental Analysis for 02.17.2025 (https://fxglory.com/2025/02/17/btcusd-h4-technical-and-fundamental-analysis-for-02-17-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Bitcoin (BTC) is currently experiencing potential volatility due to USD-related events. The U.S. market will have low liquidity today as banks remain closed for Presidents' Day, which typically results in irregular volatility as institutional traders step aside, leaving room for speculative price swings. Additionally, speeches from Federal Reserve officials Patrick Harker and Michelle Bowman could provide insights into future U.S. monetary policy. A hawkish stance may strengthen the USD, adding bearish pressure on BTC USD, while a dovish tone could support risk assets like Bitcoin. Traders should remain cautious as thin liquidity can lead to unexpected price spikes or rapid moves in either direction.

Price Action:
BTCUSD on the H4 timeframe is currently experiencing a bearish move after facing resistance at the 50% Fibonacci retracement level, leading to a sharp decline that has already broken below the 61.8% Fibonacci level. The price has moved from the upper Bollinger Band to the middle band and is now trending downward toward the lower band, signaling increased bearish pressure. If the price fails to hold above key support levels, further downside movement toward the lower Bollinger Band and the next Fibonacci support zones is likely.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands indicate that BTCUSD has moved downward from the upper band toward the middle band and is now attempting to break lower. This suggests that selling pressure is increasing, with a potential test of the lower Bollinger Band in the coming sessions. A confirmed break below the lower band could signal further bearish continuation, while a bounce from this area might indicate temporary consolidation before the next move.
MACD (Moving Average Convergence Divergence): The MACD histogram is showing strong bearish momentum, with the MACD line below the signal line, confirming a downside bias. The increasing separation between the MACD and signal lines suggests that selling pressure is still dominant. If the bearish momentum continues to grow, Bitcoin may extend losses toward key support levels. However, a weakening histogram could indicate that the downside move is slowing, signaling possible consolidation or reversal.
RSI (Relative Strength Index): The RSI is currently at 45.76, reflecting bearish sentiment but not yet reaching oversold conditions. This indicates that BTC/USD still has room to move lower before a potential reversal. If the RSI drops below 30, it would signal an oversold scenario, potentially triggering a short-term price correction. Until then, the bearish outlook remains intact, with a downward trend likely to persist in the near term.

Support and Resistance:
Support: The nearest support level is at $94,877, with a stronger support zone at $94,177, aligning with previous key price action areas.
Resistance: The immediate resistance level is at $97,183, with the next major resistance at $98,866, near the 50% Fibonacci retracement level.

Conclusion and Consideration:
BTCUSD on the H4 chart is currently in a bearish phase, as indicated by the break below the 61.8% Fibonacci level, declining MACD momentum, and RSI trending lower. The price movement from the upper Bollinger Band toward the lower band confirms the increasing selling pressure, with a high probability of further downside unless key support levels hold. With low liquidity due to the U.S. bank holiday, traders should be prepared for irregular volatility and possible sharp movements. Additionally, the upcoming speeches from Federal Reserve officials could provide unexpected market catalysts, influencing Bitcoin’s price action in correlation with USD movements. Caution is advised, and traders should employ proper risk management strategies while monitoring key levels for potential trade setups.

Disclaimer: The analysis provided for BTC/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on BTCUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.17.2025

AUDCAD H4 Technical and Fundamental Analysis for 02.18.2025 (http://"https://fxglory.com/2025/02/18/audcad-h4-technical-and-fundamental-analysis-for-02-18-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The Australian Dollar (AUD) and Canadian Dollar (CAD) currency pair is influenced today by key economic events. The Reserve Bank of Australia (RBA) has released its Monetary Policy Statement, alongside a Press Conference scheduled for later. Additionally, the Cash Rate decision has been announced, reflecting a shift from 4.10% to 4.35%, indicating a tightening policy stance to control inflation. These factors could add volatility to the AUD. Meanwhile, Canada's Consumer Price Index (CPI) figures were released, showing a mixed outcome: CPI m/m increased by 0.1% (previous: -0.4%), while Core CPI m/m declined to -0.3%. A higher inflation rate could push the Bank of Canada (BoC) toward a hawkish stance, strengthening the CAD. As a result, AUD-CAD traders should remain cautious as the market digests these key data points, which could set the tone for further price movement.

Price Action:
The AUDCAD H4 chart indicates that the price has recently broken below its bullish trendline, signaling potential exhaustion in the prior uptrend. This suggests that buyers are losing momentum, allowing sellers to take control. The price is currently positioned beneath a key resistance level at 0.90500, with additional resistance barriers at 0.90590 and 0.90900. Recent candlestick formations near these resistance zones show rejection, reinforcing the likelihood of a bearish reversal. If the price fails to break back above these resistance levels, selling pressure could intensify, leading to a deeper decline. On the downside, immediate support levels to watch are 0.89750, 0.89360, and 0.89000, which could serve as price targets if the bearish momentum strengthens. These levels have historically acted as demand zones, where buyers may step in to slow the decline. However, a decisive break below these supports could accelerate selling pressure, pushing AUD/CAD even lower. Given the trendline break and resistance rejection, traders should closely monitor price action for further bearish confirmation.

Key Technical Indicators:
MACD (Moving Average Convergence Divergence): The MACD indicator is still in a bullish phase, with the MACD line above the signal line and histogram bars expanding. However, if a crossover occurs, it could confirm the bearish momentum indicated by price action.
RSI (Relative Strength Index): The RSI is currently at 58.65, indicating a slowdown in bullish momentum. The RSI has recently turned bearish, suggesting the possibility of a downward correction or consolidation below key resistance levels.

Support and Resistance:
Support: The nearest support level is positioned at 0.89750, with stronger support zones found at 0.89360 and 0.89000. These levels align with previous key price action areas where buyers have historically stepped in, potentially providing a floor for the price if the bearish momentum slows.
Resistance: The immediate resistance level stands at 0.90500, with additional key resistance zones at 0.90590 and 0.90900. These levels have previously acted as significant barriers, where selling pressure has emerged, making them critical points for any potential bullish recovery attempts.

Conclusion and Consideration:
The AUD CAD pair is currently at a critical decision point, trading just below a key resistance level while showing signs of potential downside movement. The MACD remains bullish, but the RSI has turned bearish, indicating possible exhaustion in the uptrend. With today's high-impact news events, including the RBA Policy Statement and Canadian CPI Data, traders should expect heightened volatility. A confirmed break below 0.90000 could accelerate a bearish wave toward 0.89750 and further support zones. Conversely, a break above 0.90590 could renew bullish momentum toward 0.90900.

Disclaimer: The analysis provided for AUD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.18.2025

AUDUSD H4 Technical and Fundamental Analysis for 02.19.2025 (https://fxglory.com/2025/02/19/audusd-h4-technical-and-fundamental-analysis-for-02-19-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUD/USD currency pair is currently influenced by several key fundamental factors. The US Dollar's strength remains in focus as traders await the latest Building Permits and Housing Starts data from the US Census Bureau, which serve as leading indicators for economic activity and construction demand. A stronger-than-expected release could support the USD and apply downward pressure on AUD/USD. Meanwhile, Australia’s economic outlook is shaped by the Melbourne Institute Leading Index and the Wage Price Index, which provide insight into economic growth and inflation trends. If these indicators reflect economic resilience, the AUD could find support. Additionally, market participants will be closely monitoring RBNZ Governor Adrian Orr’s testimony, as any hawkish tone on interest rates could impact risk sentiment and commodity-linked currencies like the AUD.

Price Action:
On the H4 chart, AUD-USD has been in an uptrend following a Morning Star candlestick pattern at the ascending trendline support. The price has reached a key resistance level and is now undergoing a correction. This pullback could extend to Zone 1, where buyers may re-enter the market before the next upward move. The presence of higher highs and higher lows suggests that the overall trend remains bullish unless there is a confirmed break below key support.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI is currently around 57.17, showing a possible divergence. This suggests a weakening bullish momentum, although it has not yet entered overbought conditions. A drop below 50 could indicate further downside correction.
MACD (Moving Average Convergence Divergence): The MACD histogram is declining, and the signal line is showing signs of a potential bearish crossover. This indicates that while the bullish trend is still intact, buying momentum is decreasing, and further correction could be expected before a continuation of the uptrend.
Stochastic Oscillator: The stochastic is currently at 38.17, pointing downward. This suggests that the price could continue to correct in the short term before finding renewed buying interest at key support levels.

Support and Resistance:
Support: Immediate support is located at 0.6280, which aligns with the lower boundary of the ascending trendline and a key demand zone. Another support level is found at 0.6350, marking a previous breakout zone and price consolidation area.
Resistance: The nearest resistance level is at 0.6370, where the price is currently consolidating. If bullish momentum persists, the next major resistance level is at 0.6400, which coincides with recent highs and an important psychological barrier.

Conclusion and Consideration:
The AUD/USD pair on the H4 chart continues to maintain its bullish structure but faces a short-term correction phase. Traders should monitor Zone 1 for potential bullish re-entry opportunities. A break below 0.6350 could trigger further downside movement, while a breakout above 0.6370 would confirm the continuation of the uptrend. Given upcoming economic releases, volatility is expected. Traders should watch for USD strength or weakness following the US Building Permits and Housing Starts data, as well as Australian economic reports that may influence the AUD.

Disclaimer: The analysis provided for AUDUSD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUD/USD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.19.2025

GOLDUSD H4 Technical and Fundamental Analysis for 02.20.2025 (https://fxglory.com/2025/02/20/goldusd-h4-technical-and-fundamental-analysis-for-02-20-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Gold (XAU/USD) is trading near all-time highs as global market sentiment remains cautious. Today, several high-impact USD news events could influence gold prices. US President Donald Trump’s speech at the FII Priority Summit in Miami may provide insights into economic policies that could impact the dollar’s strength. Additionally, Federal Reserve Governor Philip Jefferson's speech on household balance sheets and initial jobless claims data will shape expectations for future interest rate decisions. If the Federal Reserve adopts a hawkish tone, gold could face downward pressure due to a stronger USD. Conversely, weaker jobless claims or a dovish Fed stance could support gold prices as investors seek safe-haven assets. Traders should also monitor the Philadelphia Fed Business Outlook Survey, which may offer clues about US economic conditions, further impacting gold's direction.

Price Action:
The GOLDUSD H4 chart exhibits a strong bullish trend, with prices moving within the upper half of the Bollinger Bands. Despite minor retracements, the price remains within an upward structure, suggesting ongoing buyer dominance. A key observation is that the recent pullback has been shallow, indicating that bulls still control the market. If the price sustains above the middle Bollinger Band, further upside movement is likely. However, a breakdown below this level may trigger a deeper correction.

Key Technical Indicators:
Bollinger Bands: The price is currently moving between the middle and upper bands, attempting to reach the upper band again. The overall trend remains bullish, with gold maintaining its strength after breaking multiple all-time highs (ATHs) in recent months.
RSI (Relative Strength Index): The RSI is hovering near 59, suggesting that the market remains in bullish territory but is not yet overbought. This indicates that there is still room for further price appreciation before reaching extreme levels.
MACD (Moving Average Convergence Divergence): The MACD histogram is expanding, with the MACD line positioned above the signal line. This suggests increasing bullish momentum, reinforcing the strength of the uptrend. However, traders should watch for potential divergence, which could indicate a slowdown in momentum.
Stochastic Oscillator: The Stochastic indicator is currently around 42-44, moving out of the oversold region. If the %K line crosses above the %D line, it could confirm a bullish continuation, supporting a move toward higher resistance levels.

Support and Resistance Levels:
Support: The first key support level is at $2,920, aligning with the middle Bollinger Band and a recent price consolidation area. A break below this level could see further downside toward $2,880.
Resistance: The immediate resistance is at $2,950, which represents the recent high and upper Bollinger Band. A breakout above this level could lead to further gains toward $2,970 and beyond.

Conclusion and Consideration:
Gold remains in a strong uptrend, supported by bullish technical indicators and fundamental factors. With key USD news events today, traders should expect high volatility in the gold market. If the Federal Reserve signals a hawkish stance, gold could face some selling pressure due to a stronger USD. However, if economic concerns arise or jobless claims come in weaker than expected, gold may continue its bullish rally. Traders should closely monitor XAUUSD’s price action around the $2,920 support and $2,950 resistance levels for potential breakouts or pullbacks.

Disclaimer: The analysis provided for XAU/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on XAUUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.20.2025

EURNZD H4 Technical and Fundamental Analysis for 02.24.2025 (https://fxglory.com/2025/02/24/eurnzd-h4-technical-and-fundamental-analysis-for-02-24-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EURNZD pair is experiencing market volatility as traders react to key economic data from both the Eurozone and New Zealand. The IFO Business Climate Index from Germany, a leading indicator of economic sentiment, is expected to provide insights into the strength of the European economy. A better-than-expected reading could boost the Euro (EUR), while a weaker-than-expected outcome may pressure the currency. Additionally, the upcoming Core CPI and CPI reports from the Eurozone will significantly impact inflation expectations and influence the European Central Bank's (ECB) monetary policy outlook.
On the New Zealand dollar (NZD) side, recent Retail Sales and Core Retail Sales reports reflect consumer spending trends. Since these are lagging indicators, their impact may be limited unless there is a significant deviation from expectations. The Reserve Bank of New Zealand (RBNZ) continues to monitor inflationary pressures, and upcoming credit card spending data will provide further clues on consumer activity. If the data signals a robust retail environment, the NZD may gain strength.

Price Action:
The EURNZD pair has been in a downward channel since reaching a peak in mid-February. However, the last four candles have been bullish, indicating a potential short-term reversal or correction. The price has swiftly moved from the lower Bollinger Band to the upper band, breaking through the middle band in a single strong bullish move. Additionally, the EUR NZD price is currently testing the 50% Fibonacci retracement level, which serves as a key decision point for traders. If buyers maintain momentum, the next resistance level could be challenged. Conversely, if selling pressure resumes, the downtrend may continue.

Key Technical Indicators:
Bollinger Bands: The EURNZD price has moved from the lower Bollinger Band to the upper band, signaling increased volatility and a potential breakout from the bearish channel. Despite the overall downtrend, this sudden price spike suggests that bulls are regaining some control. If the price holds above the middle band, further bullish movement could be expected.
Stochastic Oscillator (Stoch 5,3,3): The Stochastic Oscillator is currently near the 75-80 zone, indicating that momentum has shifted towards the bulls. This suggests that the EUR/NZD pair might enter overbought territory soon. However, if the %K and %D lines cross downwards from these levels, a potential pullback may occur.
Awesome Oscillator (AO): The AO histogram has transitioned from deep red to light blue, indicating weakening bearish momentum. While the histogram remains negative, the current trend suggests that bullish pressure is increasing. If the AO crosses above the zero line, it would confirm a stronger upside move.

Support and Resistance Levels:
Support: The nearest support level is at 1.8180, aligning with the 23.6% Fibonacci retracement level and recent lows. If the EURNZD price breaks below this level, further downside movement could follow.
Resistance: The immediate resistance is at 1.8290, corresponding to the 50% Fibonacci retracement level. A successful breakout above this level could lead to a test of 1.8330 (61.8% Fibonacci level).

Conclusion and Consideration:
The EURNZD H4 chart analysis suggests a potential short-term bullish correction within a broader downtrend channel. The recent bullish momentum, reflected in Bollinger Bands, Stochastic Oscillator, and AO, highlights a possible upside continuation if resistance levels are broken. However, traders should remain cautious as the overall trend remains bearish unless a significant breakout occurs. Key fundamental factors, including IFO Business Climate Index, CPI data from the Eurozone, and New Zealand’s retail sales, could drive volatility in the EUR-NZD pair. Traders should closely monitor these reports, as unexpected economic data could shift market sentiment rapidly.

Disclaimer: The analysis provided for EUR/NZD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURNZD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.24.2025

USDJPY H4 Technical and Fundamental Analysis for 02.25.2025 (http://"https://fxglory.com/2025/02/25/usdjpy-h4-technical-and-fundamental-analysis-for-02-25-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/JPY pair is expected to experience volatility today due to multiple speeches from Federal Reserve (FOMC) officials. Chicago Fed President Austan Goolsbee and Dallas Fed President Lorie Logan will speak on economic conditions, potentially providing insights into future monetary policy. If their tone is hawkish, the USD could strengthen, putting upward pressure on the USD-JPY pair. Additionally, key US data, including housing prices and consumer confidence figures, could influence market sentiment. On the Japanese Yen side, the Bank of Japan (BoJ) has released the Corporate Services Price Index (CSPI), an important inflation indicator. Stronger-than-expected data may lead to JPY appreciation, reinforcing the bearish trend in USD vs JPY. However, if the data is weak, expectations of continued BoJ dovish policy could weaken the yen. Traders should remain cautious as market volatility is likely to increase throughout the session.

Price Action:
The USDJPY pair continues to trade within a strong downtrend. The price is currently testing a key support zone at 149.300 - 148.800, which has historically provided significant buying interest. The recent price action suggests an attempt at a bounce, but Resistance Line 1 (150.500 - 150.800) is capping the upside. If the price fails to break above Resistance Line 1, further downside pressure could push the pair below 148.800, confirming a continuation of the bearish trend. However, if buyers gain control and break through Resistance Line 1, the next key level to watch is Resistance Line 2 (152.800), which aligns with the long-term descending trendline. Should the price successfully breach both resistance levels, upside targets include FE 61.8% at 152.900 and FE 100% at 153.800. Until a confirmed breakout occurs, the trend remains bearish.

Key Technical Indicators:
Parabolic SAR: The last three dots are below the price, signaling a potential shift in momentum toward the upside. However, a break above Resistance Line 1 is necessary to confirm a reversal.
Relative Strength Index (RSI): The RSI is currently at 39.93, indicating that the pair remains in bearish territory. Although it is not yet oversold, a move above 50 would suggest a weakening downtrend and potential bullish momentum.
MACD (Moving Average Convergence Divergence): The MACD histogram remains negative, and the MACD line is below the signal line, confirming that bearish momentum is still in play. A bullish crossover is needed for signs of trend reversal.
Stochastic Oscillator: The Stochastic Oscillator is at 81.27, placing it in the overbought zone. This suggests that the recent price bounce may be short-lived and that further selling pressure could emerge. A bearish crossover would reinforce the downtrend.

Support and Resistance:
Support: Immediate support is located at 149.300 - 148.800, which represents a significant historical level. If this zone fails to hold, the next key support is 148.315, potentially triggering further downside movement.
Resistance: The nearest resistance level is at 150.500 - 150.800 (Resistance Line 1), a key short-term barrier. A break above this level would indicate bullish momentum. The next major resistance is at 152.800 (Resistance Line 2), which must be breached for a full trend reversal. Additional upside targets include FE 61.8% at 152.900 and FE 100% at 53.800.

Conclusion and Consideration:
The USD/JPY pair remains in a strong downtrend, currently testing a crucial support zone at 149.300 - 148.800. If the price fails to break above Resistance Line 1 (150.500 - 150.800), the bearish trend is likely to continue, potentially pushing the price below 148.800. However, if buyers manage to break above Resistance Line 1, a short-term recovery could be in play, with the next major test at Resistance Line 2 (152.800). With multiple FOMC speeches and key US economic releases scheduled today, traders should prepare for potential market volatility. A hawkish Fed stance could strengthen the USD, while strong JPY fundamentals could keep the pair under selling pressure. Monitoring RSI, MACD, and support/resistance levels will be crucial for confirming the next move.

Disclaimer: The analysis provided for USD/JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDJPY. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
02.25.2025

BTCUSD H4 Technical and Fundamental Analysis for 03.03.2025 (https://fxglory.com/2025/03/03/btcusd-h4-technical-and-fundamental-analysis-for-03-03-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Bitcoin (BTC) remains sensitive to broad macroeconomic factors and investor sentiment, as the cryptocurrency market shows steady institutional and retail interest. In today’s session, the focus will be on the USD side of the BTCUSD pair, with multiple economic releases such as the ISM Manufacturing PMI, Construction Spending, and the Wards Auto data. Positive US data can strengthen the dollar, potentially pressuring BTC if risk appetite wanes. Meanwhile, Bitcoin’s fundamental drivers include ongoing discussions about its upcoming halving cycle and overall adoption trends, which continue to shape the long-term outlook for the cryptocurrency.

Price Action:
Over the weekend, BTCUSD showed a notable correction, moving from 78k to 92k on the H4 chart but failing to break above the 50% Fibonacci retracement level. This inability to push higher suggests that bullish momentum may be pausing, and the pair could revisit the 38.2% or 23.6% Fib levels if downside pressure intensifies. Price action has temporarily stalled near the upper Bollinger Band, indicating that immediate upside might be capped. Traders are watching closely for any bearish follow-through that could send the price back toward the 0% Fib level in the coming sessions.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands on the BTCUSD H4 chart show that the price has recently touched the upper band, signaling a potential overextension. Historically, price retracements often follow upper band touches, especially if accompanied by lower volume or weakening momentum. A break back toward the middle band would indicate a corrective phase, aligning with the possibility of retesting lower Fibonacci levels. Should volatility increase, a close outside the bands could confirm a more decisive breakout or breakdown.
RSI (Relative Strength Index): The RSI appears to be hovering near the upper threshold of neutral territory, reflecting neither extreme overbought nor oversold conditions. This position suggests that while bullish momentum was strong enough to push BTCUSD to 92k, it did not hit a level typically associated with a clear reversal. A downturn in the RSI below the midpoint would reinforce a potential bearish pullback. Conversely, a sustained move above 70 would indicate strong bullish pressure and might invalidate the short-term corrective bias.
MACD (Moving Average Convergence Divergence): The MACD histogram is currently positive, showing that the MACD line remains above the signal line, indicative of ongoing bullish momentum. However, the histogram bars have started to shorten, suggesting a possible slowdown in buying pressure. If the MACD line crosses below the signal line, it would be an early sign of bearish momentum gaining traction. Traders should monitor this indicator closely for confirmation of any trend shift on the H4 timeframe.

Support and Resistance:
Support: Immediate support is aligned with the 38.2% Fibonacci retracement level, offering the first defense for the bulls. A deeper support can be found near the 0% Fib level, which could become a target if selling pressure intensifies.
Resistance: The nearest resistance lies just above the 50% Fibonacci retracement level around the 92k region. A break above this zone may expose further resistance near the 95k handle, a region of previous price consolidation.

Conclusion and Consideration:
In this technical and fundamental chart daily analysis for BTCUSD H4, the current price action suggests a cautious stance is warranted. While the bullish momentum brought Bitcoin’s price from 78k to 92k, the failure to clear the 50% Fib level points to a potential pullback. Key economic data from the US could drive volatility for BTCUSD, as shifts in risk sentiment often impact the cryptocurrency market. Traders should keep a close eye on the Bollinger Bands, RSI, and MACD for clearer directional cues, alongside upcoming US economic releases that may influence the dollar side of the pair.

Disclaimer: The analysis provided for BTC/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on BTCUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.03.2025

AUDUSD Daily Technical and Fundamental Analysis for 03.04.2025 (http://"https://fxglory.com/2025/03/04/audusd-daily-technical-and-fundamental-analysis-for-03-04-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUDUSD pair remains under pressure as the US Dollar (USD) strengthens ahead of key events today. The Federal Reserve’s (FOMC) Williams is scheduled to speak, which could provide insights into future monetary policy directions, potentially impacting USD volatility. Additionally, the RCM/TIPP Economic Optimism Index is expected to show improvement, reinforcing USD strength.
On the Australian Dollar (AUD) side, the market will closely monitor the RBA Deputy Governor Hauser’s speech, as any hawkish remarks could support AUD. Furthermore, key data releases such as the Monetary Policy Meeting Minutes, Retail Sales (forecast 0.3% vs. previous -0.1%), and Current Account (-11.8B vs. -14.1B) could impact AUD’s short-term trajectory. Should retail sales exceed expectations, we may see a temporary boost in AUD, but bearish sentiment prevails given current technical conditions.

Price Action:
The AUDUSD pair has been in a sharp bearish phase, trading within the lower Bollinger Band before entering a correction phase. This corrective movement led the price back toward the midline of the Bollinger Bands, assisting the RSI in recovering from oversold conditions. However, after testing the midline resistance, the pair has resumed its bearish wave, reflecting persistent downward momentum. The MACD indicator also suggests a continuation of the downtrend, as the histogram remains in negative territory with bearish divergence strengthening.

Key Technical Indicators:
Bollinger Bands: The price initially declined sharply, remaining near the lower band before attempting a recovery. The midline acted as resistance, rejecting further upside and resuming the bearish wave. The continued expansion of the bands indicates high volatility, favoring further downside movement.
MACD (Moving Average Convergence Divergence): The MACD line remains below the signal line, with a bearish histogram indicating ongoing selling pressure. This setup suggests that the bearish trend could persist unless a bullish crossover occurs.
RSI (Relative Strength Index): The RSI rebounded from oversold territory but is now struggling near 36.83, still indicating weak momentum. If the RSI moves below 30, it could signal further selling pressure and potential downside continuation.

Support and Resistance:
Support: The AUDUSD pair faces key resistance levels at 0.62530, aligning with the midline of the Bollinger Bands, followed by 0.62350, marking a recent swing high, and 0.62300, a psychological level that previously acted as support but has now turned into resistance.
Resistance: On the downside, immediate support is seen at 0.61700, reflecting recent lows, followed by 0.61400, a stronger historical level, and 0.61150, which serves as a major support zone; a break below this level could trigger further downside momentum.

Conclusion and Consideration:
The AUDUSD H4 analysis indicates that the pair remains in a strong bearish trend, with technical indicators such as the MACD, RSI, and Bollinger Bands aligning for further downside movement. The rejection from the Bollinger Band’s midline confirms ongoing selling pressure, while the MACD histogram remains negative, reinforcing bearish momentum. Traders should watch for potential volatility due to upcoming USD and AUD economic releases, especially the FOMC speech and Australian Retail Sales data. If AUD fundamentals disappoint, the pair could retest 0.61700 and potentially lower support levels.

Disclaimer: The analysis provided for AUD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.04.2025

USDCHF H4 Technical and Fundamental Analysis – 03.05.2025 (https://fxglory.com/2025/03/05/usdchf-h4-technical-and-fundamental-analysis-03-05-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDCHF currency pair is currently being influenced by key economic releases from both the US and Switzerland. Today, the Swiss Consumer Price Index (CPI) report will be released, providing insights into inflation trends. A higher-than-expected CPI figure may strengthen the Swiss Franc (CHF) as it could lead to a more hawkish stance from the Swiss National Bank (SNB). Conversely, a weaker CPI reading could put pressure on the CHF, allowing USDCHF to rebound. For the US Dollar (USD), several high-impact events are scheduled, including the ADP Non-Farm Employment Change, ISM Services PMI, and a speech by US President Donald Trump. The ADP employment report serves as an early indicator of the Non-Farm Payrolls (NFP) data, and strong job growth figures could support the USD. Additionally, the ISM Services PMI will gauge the strength of the US service sector, and Trump's speech could bring unexpected volatility depending on any policy announcements. Traders should be cautious of potential price fluctuations due to these scheduled events.

Price Action:
The USD/CHF pair has reached a major support zone at 0.8890, which coincides with the 40% Fibonacci retracement level, a descending trendline support, and a previous horizontal support level. The price briefly dipped below this level but showed signs of buying interest, suggesting a possible reversal. If buyers step in, the pair could target the next Fibonacci level and descending resistance trendline at 0.8960 - 0.9000. However, if the price breaks below 0.8865, it could trigger further downside momentum, potentially leading to new lows.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI is currently at 29.16, indicating oversold conditions. This suggests that the selling pressure might be weakening, and a potential reversal could be near. However, a confirmation through price action is needed before entering long positions.
MACD (Moving Average Convergence Divergence): The MACD histogram is negative at -0.002211, with the MACD line below the signal line, indicating bearish momentum. However, the decreasing bearish momentum suggests that selling pressure is slowing down. A bullish crossover of the MACD line above the signal line would strengthen the case for a reversal.
Stochastic Oscillator: The Stochastic (5,3,3) is at 27.11, approaching oversold levels. This suggests that the downward momentum is fading, and a bullish crossover in the oscillator would be a strong indication of an upward correction. Traders should watch for a crossover above the 20 level for confirmation.

Support and Resistance:
Support: Immediate support is located at 0.8890, which aligns with the 40% Fibonacci retracement level, descending trendline support, and previous horizontal support. A break below this level could open the door for further downside toward 0.8865.
Resistance: The nearest resistance level is at 0.8960, which coincides with the 23.6% Fibonacci retracement level and a descending resistance trendline. If bullish momentum continues, the next major resistance lies at 0.9000, which is a key psychological level and a trendline resistance zone.

Conclusion and Consideration:
The USD-CHF pair on the H4 timeframe is currently testing a strong support zone at 0.8890, with multiple technical confluences suggesting a potential bullish reversal. RSI and Stochastic indicate oversold conditions, while MACD shows weakening bearish momentum, which supports the possibility of an upward correction. If the price holds above 0.8890, traders can look for a rebound toward 0.8960 and 0.9000 as potential resistance levels. However, a break below 0.8865 could indicate further downside continuation. With high-impact economic events such as Swiss CPI, US ADP employment data, and ISM Services PMI, traders should expect increased volatility. Trump's speech could also introduce unexpected market movements, making it crucial to manage risk appropriately. Waiting for confirmation through price action signals before entering trades is advisable.

Disclaimer: The analysis provided for USD/CHF is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCHF. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.05.2025

EURUSD Daily Technical and Fundamental Analysis for 03.07.2025 (http://"https://fxglory.com/2025/03/07/eurusd-daily-technical-and-fundamental-analysis-for-03-07-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
EUR/USD is currently influenced by several high-impact events, including Europe’s new purchase orders data and foreign trade figures, as well as a scheduled speech by ECB President Christine Lagarde. Traders are closely monitoring Euro area Employment and GDP releases for additional insight into the region’s economic strength. Meanwhile, the US Dollar faces potential volatility from multiple Federal Reserve (FOMC) member speeches and labor market data (NFP, Unemployment Rate), which could shape market sentiment on monetary policy. Overall, these EUR USD daily chart technical and fundamental analysis factors suggest heightened price action and possible shifts in momentum on the H4 timeframe.

Price Action
The EUR USD H4 chart shows a strong initial upswing since the market opened this week, followed by three consecutive red candles indicating a possible correction. If the bearish movement extends, price action may test the 23.6% Fibonacci Retracement, with potential deeper pullbacks toward the 50% and 61.8% levels. This EURUSD daily technical analysis suggests traders should monitor these key retracement zones for signs of reversal or continuation, as the pair’s momentum could shift rapidly in response to ongoing fundamental developments.

Key Technical Indicators
RSI (Relative Strength Index): The RSI has moved near overbought territory following the recent sharp rally, signaling that the bullish momentum may be losing steam. With the last three bearish candles, RSI is gradually easing, suggesting a potential cooldown in buying pressure. However, a sustained move below the 50 mark could confirm a deeper correction for EURUSD price action.
MACD (Moving Average Convergence Divergence): The MACD line remains above the signal line, reflecting the recent bullish surge on the EUR-USD H4 chart. Nonetheless, the histogram is starting to narrow, indicating that upward momentum may be slowing. A crossover below the signal line could reinforce a short-term bearish correction scenario.
Stochastic Oscillator: Stochastic readings are hovering in high territory, supporting the notion that EUR USD could be ripe for a pullback. The oscillator’s downward slope from overbought levels suggests a likely pause in the bullish trend. A clear break below the 80 line often points to growing bearish pressure.

Support and Resistance
Support: The support zone, defined by the 23.6%, 50%, and 61.8% Fibonacci levels at 1.0680, 1.0640, and 1.0600 respectively, forms a layered cushion where buyers may step in during corrections. A bounce off these levels would reinforce bullish sentiment, while a break could signal a shift toward stronger bearish momentum.
Resistance: Resistance is observed at 1.0750, the recent swing high, and at 1.0800, a key psychological barrier, where selling pressure has previously emerged. A successful break above these levels could validate further bullish momentum, whereas failure to breach them may lead to profit taking and a potential retracement.

Conclusion and Consideration
EUR/USD appears poised for a potential corrective move on the H4 chart, with fundamental news and technical signals aligning to indicate caution. Traders should keep an eye on key Fibonacci levels, as well as RSI, MACD, and Stochastic Oscillator readings for confirmation of further downside or a bullish continuation. The upcoming Eurozone data and multiple US FOMC statements could amplify market volatility, so monitoring both technical and fundamental factors is essential.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.07.2025

EURCHF H4 Technical and Fundamental Analysis for 03.10.2025 (https://fxglory.com/2025/03/10/eurchf-h4-technical-and-fundamental-analysis-for-03-10-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The EURCHF currency pair will be influenced by multiple forthcoming economic reports and events. On the Euro (EUR) side, market participants await the Destatis data releases on industrial production and trade balance (slated for April 7, 2025), as well as the Eurogroup meeting on April 11, 2025. Stronger-than-forecast figures could boost the EUR, while cautious commentary from Eurozone officials could dampen sentiment. Meanwhile, the Swiss Franc (CHF) reacts to SECO’s consumer climate data (due April 10, 2025); a better-than-expected reading may fortify the CHF, potentially adding downside pressure on EURCHF.

Price Action
On the H4 chart, EURCHF broke above a key resistance near 0.9523 and is now retesting this region as potential support. The pair is hovering around the middle Bollinger Band, which can act as a dynamic support. Bollinger Bands are narrowing, implying lower volatility prior to a probable expansion. If price action respects the 0.9523 level, the uptrend may continue, whereas a clear break below it could signal a deeper pullback.

Key Technical Indicators
Bollinger Bands: The Bollinger Bands on EURCHFH4 have been tightening, typically a precursor to a volatility surge. Price is testing the middle band, indicating a support zone that may help sustain the recent breakout. A move above the upper band could confirm bullish momentum continuation.
RSI (Relative Strength Index): Currently around 54, the RSI signals moderate bullish momentum without entering overbought territory. This leaves room for additional upside, though a drop below the 50 mark would hint at weakening bullish interest and an increased chance of further correction.
MACD (Moving Average Convergence Divergence): The MACD line remains above the signal line, albeit with a contracting histogram. While this setup still leans bullish, diminishing momentum points to a possibility of a short-term retracement. Traders should watch for a bearish crossover to confirm any deeper pullback.
Williams %R (Williams Percent Range) Hovering near oversold conditions (around -90), Williams %R suggests that selling pressure could be losing steam. A climb above -80 would indicate a shift back into bullish territory, aligning with a potential resumption of the uptrend.

Support and Resistance
Support: Immediate support is located at 0.9523, which aligns with a recently broken resistance level and the middle Bollinger Band.
Resistance: The nearest resistance level is at 0.9600, which corresponds to a minor psychological barrier and recent swing high.

Conclusion and Consideration
The EURCHFH4 technical and fundamental chart daily analysis points to a cautiously bullish outlook, contingent on the 0.9523 support zone holding firm. Key technical indicators, including Bollinger Bands, RSI, MACD, and Williams %R, suggest that the uptrend could continue if buyers defend this level. However, traders should closely monitor upcoming Eurozone (Destatis, Eurogroup) and Swiss (SECO) data releases, as unexpected readings may trigger volatility and alter EURCHF’s price action.

Disclaimer: The analysis provided for EUR/CHF is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURCHF. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.10.2025

GBP/USD H4 Technical and Fundamental Analysis for 03.12.2025 (https://fxglory.com/2025/03/12/gbp-usd-h4-technical-and-fundamental-analysis-for-03-12-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP-USD currency pair is currently influenced by key economic indicators from the US and UK. Today, traders are focusing on the US Consumer Price Index (CPI) data, which plays a crucial role in shaping the Federal Reserve’s monetary policy. A higher-than-expected CPI reading could strengthen the USD as it may push the Fed towards maintaining or increasing interest rates. Additionally, the US Crude Oil Inventories report will provide insight into energy price trends, which indirectly impact inflation expectations and the USD’s movement. From the UK side, no major economic events are scheduled today, leaving the GBP vulnerable to USD-driven volatility. However, ongoing discussions regarding fiscal policies and global economic uncertainty may influence market sentiment.

Price Action:
The GBP/USD H4 chart analysis shows that the pair is approaching a significant resistance level around 1.2934 - 1.3000. The bullish momentum appears to be fading, as evidenced by a bearish divergence forming on the RSI and MACD indicators. Over the past sessions, price action has shown a consistent upward trend, but the slowing momentum suggests a potential correction. If the price fails to break the resistance, it may retrace toward the nearest support levels at 1.2706 or the ascending trendline. A potential breakout above 1.3000 could drive further gains, but considering the overextended bullish move and weakening momentum, a retracement seems more probable.

Key Technical Indicators:
Parabolic SAR: The last three dots of the Parabolic SAR are below the price, confirming an ongoing uptrend. However, if the dots flip above the price, it would signal a potential reversal or consolidation phase.
RSI (Relative Strength Index): A divergence can be seen between price and RSI, as the price makes higher highs while RSI moves lower. This indicates weakening bullish momentum and an increasing possibility of a price correction. Additionally, the RSI is near the overbought zone (65.59), suggesting limited upside potential.
MACD (Moving Average Convergence Divergence): The MACD histogram is declining, and the signal line is converging with the MACD line, hinting at a weakening bullish trend. A bearish crossover could indicate a reversal or a deeper pullback.
Standard Deviation Oscillator: The standard deviation oscillator shows a decrease in volatility, indicating reduced momentum. This aligns with the observation that price action is struggling to break resistance, increasing the likelihood of a corrective move.

Support and Resistance:
Support: Immediate support is located at 1.2706, which aligns with the ascending trendline and previous price consolidation area.
Resistance: The nearest resistance level is at 1.2934 - 1.3000, which coincides with recent highs and the upper boundary of the trend.

Conclusion and Consideration:
The GBP Vs. USD pair on the H4 chart shows sustained bullish momentum, but technical indicators signal a potential slowdown. The RSI divergence, declining MACD momentum, and reduced volatility indicate that a correction could be imminent. Traders should watch for confirmation of a bearish reversal, especially if the price fails to break 1.3000. A retracement toward 1.2706 is possible if selling pressure increases. Given the importance of today’s US CPI release, market volatility may surge, influencing the pair’s direction. Traders should stay cautious and incorporate risk management strategies while trading around key levels.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBP-USD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.12.2025

EURUSD H4 Technical and Fundamental Analysis for 03.13.2025 (http://"https://fxglory.com/2025/03/13/eurusd-h4-technical-and-fundamental-analysis-for-03-13-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The EURUSD currency pair may see increased volatility today due to Eurozone data (Unemployment, Industrial Production) and a panel discussion featuring Bundesbank President Joachim Nagel, which could bolster or weigh on the EUR. Meanwhile, the USD faces multiple releases (Core PPI, PPI, Jobless Claims, Natural Gas Storage, and a 30-year Treasury Auction), offering insights into inflation and labor conditions. These events collectively shape the near-term outlook for EURUSD H4, highlighting the importance of both fundamental chart daily analysis and price action for traders.

Price Action
EURUSD has been in a clear bullish trend since early March, with higher highs and higher lows supported by an ascending trendline. Despite minor consolidation in recent candles, the overall momentum remains positive. Pullbacks toward the trendline may present buying opportunities, as long as price action holds above key support levels.

Key Technical Indicators
Moving Averages (MA 9 and MA 17): The 9-period short MA has crossed above the 17-period long MA, confirming bullish momentum. The long MA sits below recent candles, and the short MA is close to price action, suggesting ongoing upside strength.
Stochastic Indicator: The Stochastic is near overbought territory, hinting at a possible short-term pullback. If it crosses below mid-levels, a deeper correction could emerge, but the broader trend remains bullish as long as it stays above 50.
Volume: Volume has aligned with the recent upward movement, indicating strong buying interest. Slight dips during consolidations are normal, but overall volume supports the bullish trend, especially on rallies.

Support and Resistance
Support: Immediate support is located at 1.0980, which aligns with the ascending trendline.
Resistance: The nearest resistance level is at 1.1060, which coincides with a recent swing high.

Conclusion and Consideration
The EURUSD H4 chart shows persistent bullish momentum, underpinned by favorable fundamentals and positive technical indicators. While short-term pullbacks may occur—especially if the Stochastic continues to retreat—price action remains constructive above the rising trendline. Traders should keep an eye on today’s Eurozone and US releases for potential market-moving surprises, particularly regarding inflation and labor-market data.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.13.2025

ETHUSD H4 Technical and Fundamental Analysis for 03.14.2025 (http://"https://fxglory.com/2025/03/14/ethusd-h4-technical-and-fundamental-analysis-for-03-14-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Ethereum (ETHUSD) remains a major player in the cryptocurrency market, widely used for decentralized applications and smart contracts. Today, ETH/USD's price action will be significantly influenced by the University of Michigan Consumer Sentiment and Inflation Expectations reports from the U.S. These economic indicators can impact the strength of the U.S. dollar (USD), which historically shares an inverse correlation with Ethereum and other cryptocurrencies. If consumer confidence is stronger than expected, it may lead to USD strength, applying bearish pressure on ETHUSD. Conversely, weak consumer sentiment and inflation concerns could support Ethereum’s price, as traders seek alternatives to fiat currencies. With ongoing regulatory discussions in the U.S. and potential institutional adoption of Ethereum-based applications, ETHUSD traders should monitor both macroeconomic data and blockchain-related developments.

Price Action:
The ETHUSD H4 chart reveals a clear bearish trend within a descending channel, with price action consistently forming lower highs and lower lows. The cryptocurrency is struggling to gain bullish momentum, facing resistance at key levels while respecting the downward-sloping trendline. Despite temporary consolidation, Ethereum remains below both short- and long-term moving averages, reinforcing the prevailing bearish sentiment. If ETHUSD fails to break above resistance levels, further downside pressure may lead to another leg lower toward the next support zone. However, a breakout above the descending channel could signal a potential trend reversal.

Key Technical Indicators:
Moving Averages (MA): The price remains below the 9-period short MA (blue) and the 17-period long MA (orange), confirming a strong bearish momentum. The downward crossover of the shorter MA below the longer MA suggests continued selling pressure, making bullish recoveries less likely unless a decisive break above the moving averages occurs.
Stochastic Oscillator: The stochastic (5,3,3) is currently at 30.66, indicating that ETHUSD is approaching oversold territory but has not yet fully bottomed out. If the stochastic moves below 20, a short-term bounce may occur; however, sustained bearish momentum suggests further weakness unless a reversal signal emerges.
Volume: The volume bars show increased selling pressure, especially during major downward price movements. There has been no significant spike in buying volume, meaning the bears remain in control. If volume increases on bullish candles, it may indicate a potential accumulation phase before a breakout.

Support and Resistance Levels:
Support: The nearest support level is $1,735, which aligns with previous lows and a key psychological barrier. A break below this level could lead to further declines.
Resistance: The first major resistance level is at $1,955, near the upper boundary of the descending channel. A breakout above this level could invalidate the bearish trend and shift momentum towards the bulls.

Conclusion and Consideration:
The ETHUSD H4 analysis confirms a strong bearish trend, with price action respecting a downward channel and key indicators pointing toward continued weakness. The moving averages, stochastic, and volume all support the bearish outlook unless a major resistance breakout occurs. Traders should monitor today’s U.S. economic data, as stronger-than-expected results may push the USD higher, further pressuring ETHUSD. A potential break above $1,955 could signal a trend shift, but failure to hold support at $1,735 may trigger further declines. Given the volatile nature of cryptocurrencies, traders should apply proper risk management strategies and remain aware of global economic and regulatory developments.

Disclaimer: The analysis provided for ETH/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on ETHUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.14.2025

NZDUSD Daily Technical and Fundamental Analysis for 03.18.2025 (https://fxglory.com/2025/03/18/nzdusd-daily-technical-and-fundamental-analysis-for-03-18-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The NZD/USD currency pair represents the exchange rate between the New Zealand Dollar (NZD) and the US Dollar (USD). Today, NZD may experience volatility due to the upcoming Global Dairy Trade (GDT) data release, a significant indicator of New Zealand’s economic health, as higher dairy product prices typically strengthen the NZD. The US Dollar could also see significant movement today with the release of key economic data, including Residential Building Permits, Housing Starts, Import Prices, Capacity Utilization Rate, and Industrial Production. Positive outcomes in these indicators usually support the USD, adding bearish pressure on the NZDUSD pair.

Price Action
The NZD-USD pair analysis on the H4 timeframe demonstrates a strong bullish breakout above the previous resistance zone, now converted into support. Currently, the price has reached the Fibonacci expansion level of 100.0, indicating a high probability of a corrective pullback. Initially, the price is expected to retrace toward the ascending support trendline, followed by a potential deeper correction toward the horizontal support zone.

Key Technical Indicators
RSI (Relative Strength Index): The RSI indicator currently reads 75.73, indicating an overbought scenario. This suggests a probable price correction in the short term to ease the overbought condition.
MACD (Moving Average Convergence Divergence): The MACD histogram remains bullish, although diminishing momentum indicates potential weakening buying pressure. Traders should be alert for a bearish crossover that could signal a reversal or pullback.
Stochastic Oscillator: The Stochastic Oscillator shows a strongly overbought condition at levels 92.19 and 94.34, emphasizing the likelihood of an imminent short-term correction.

Support and Resistance
Support: Immediate support is located at the ascending trendline near 0.5770, followed by a key horizontal support zone around 0.5730-0.5725.
Resistance: The nearest resistance level is at the recent peak near 0.5822, coinciding with the Fibonacci Expansion 100.0 level. Further resistance can be observed at the psychological mark of 0.5850.

Conclusion and Consideration
The NZD/USD pair forecast on the H4 chart suggests continued bullish momentum, supported by current price action and technical indicators. However, the overbought conditions indicated by RSI and Stochastic suggest the pair is likely to see a corrective move soon. Traders should monitor upcoming economic news closely, especially GDT and US economic indicators, which could significantly impact the NZD-USD exchange rate.

Disclaimer: The analysis provided for NZD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on NZDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.18.2025

USDJPY Technical and Fundamental Analysis for 03.19.2025 (https://fxglory.com/2025/03/19/usdjpy-technical-and-fundamental-analysis-for-03-19-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis
The USDJPY currency pair remains sensitive today with important economic indicators scheduled. For JPY, upcoming releases include Japan's Machine Orders, Adjusted Merchandise Trade Balance, and Industrial Production, all crucial leading indicators of economic activity and currency strength. The Bank of Japan's monetary policy outlook and recent interest rate statements also continue to influence JPY. Conversely, for the USD, traders will closely watch the EIA Crude Oil Inventories, a key measure influencing the US Dollar through energy market sentiment. These fundamental releases could significantly impact USDJPY volatility.

Price Action
USDJPY price action analysis in the H4 timeframe reveals a confirmed bullish reversal. After breaking the downtrend line, price has entered an ascending channel, currently testing the lower boundary and coinciding with EMA support zones. Recent candles suggest bullish sentiment may continue, targeting the upper boundary of the ascending channel, reinforcing the bullish outlook.

Key Technical Indicators
Parabolic SAR: The Parabolic SAR dots are positioned below recent candles, indicating bullish momentum and a positive trend continuation signal for USDJPY.
EMA (Exponential Moving Average): Price remains above both the short-term and medium-term EMA lines, highlighting bullish support that can propel USDJPY higher.
RSI (Relative Strength Index): Currently at 58.58, RSI remains comfortably within neutral territory, suggesting sufficient room for further bullish movement without immediate risk of overbought conditions.
MACD (Moving Average Convergence Divergence): MACD is above the signal line, maintaining positive values, indicative of sustained bullish momentum, although recent histogram bars are shorter, signaling slightly decreased buying momentum.
Stochastic Oscillator: The stochastic oscillator has recently approached the oversold region and is now curving upwards, providing a bullish crossover that indicates renewed buying interest could lift prices further.

Support and Resistance:
Support: Immediate support lies at the lower boundary of the ascending channel at approximately 148.900, strengthened by EMA convergence.
Resistance: Key resistance is observed near the upper boundary of the ascending channel at approximately 149.900, marking recent price highs.

Conclusion and Consideration:
The current H4 analysis for USDJPY indicates bullish momentum supported by key technical indicators such as Parabolic SAR, EMA, RSI, MACD, and Stochastic oscillator. The ascending channel supports further bullish sentiment. Traders must remain cautious and monitor upcoming fundamental economic data releases closely, which can significantly affect the USDJPY exchange rate, leading to potential volatility.

Disclaimer: The analysis provided for USD/JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDJPY. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.19.2025

EURUSD Daily Technical and Fundamental Analysis for 03.24.2025 (https://fxglory.com/2025/03/24/eurusd-daily-technical-and-fundamental-analysis-for-03-24-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD currency pair today will likely be influenced significantly by flash PMI reports for both the Eurozone and the US, released by S&P Global. Purchasing Managers' Index (PMI) data, crucial for gauging economic health, could trigger volatility if actual figures diverge from market forecasts. Additionally, traders should watch speeches by Federal Reserve Bank of Atlanta President Raphael Bostic and Federal Reserve Governor Michael Barr, whose statements could provide insights on future monetary policy and impact the USD.

Price Action:
EURUSD price action analysis in the H4 timeframe indicates the price has reached a critical support level and has reacted to it positively. Several pin bar candles have formed near the support, indicating indecision and imminent volatility. A move upward towards the middle Bollinger Band, acting as the first target, followed by the upper Bollinger Band, could be expected as traders anticipate a price correction from this support level.

Key Technical Indicators:
Bollinger Bands: EURUSD’s Bollinger Bands show that the price is currently at the lower band, signaling a potential reversal upward. With the middle Bollinger Band serving as an initial target (around 1.0850), a sustained move above this level could lead towards the upper band, near 1.0900.
RSI (Relative Strength Index): The RSI indicator stands at approximately 38.66, slightly above the oversold threshold (30). This indicates bearish exhaustion and potential for bullish recovery. However, traders should look for confirmation from additional bullish candles before initiating buy positions.
MACD (Moving Average Convergence Divergence): MACD histogram bars are below the zero line but decreasing in magnitude, showing waning bearish momentum. The MACD lines are converging, suggesting a bullish crossover might occur soon, further reinforcing a potential bullish reversal.
Williams %R: Currently at -80.86, this indicator reflects oversold conditions, implying that selling pressure may diminish, giving way to an upward price reversal or retracement soon. Traders should look out for an upward movement in the indicator as confirmation.

Support and Resistance:
Support: Immediate key support is observed at 1.0813, where recent price actions formed significant pin bar candles indicating buying pressure.
Resistance: Initial resistance is identified at the middle Bollinger Band around 1.0850, followed by a stronger resistance at the upper Bollinger Band, around the 1.0900 psychological level.

Conclusion and Consideration:
EURUSD’s technical outlook on the H4 timeframe suggests a potential bullish reversal, supported by oversold conditions in the RSI and %R, and a reduction in bearish momentum on the MACD. Price action at the support level combined with today's significant PMI reports and speeches by Fed officials could induce volatility. Traders should manage positions carefully, considering the fundamental news events today, which may substantially influence EURUSD price movements.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.24.2025

BTCUSD Daily Technical and Fundamental Analysis for 03.25.2025 (http://"https://fxglory.com/2025/03/25/btcusd-daily-technical-and-fundamental-analysis-for-03-25-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The BTC-USD pair is primarily driven by ongoing developments in regulatory landscapes and macroeconomic conditions. Today, traders will closely monitor remarks by Federal Reserve Governor Adriana Kugler and New York Fed President John Williams. Hawkish statements could strengthen the USD, potentially impacting BTCUSD negatively. Additionally, data on the US housing market, including the S&P Corelogic CS Indices and the House Price Index (HPI), may cause volatility, reflecting investor sentiment towards the USD and subsequently influencing Bitcoin's price action.

Price Action:
The BTC/USD H4 chart indicates a significant bullish breakout from its previous downtrend, marked clearly by crossing above the downward trendline (red). Currently, the price action has encountered resistance at the upper boundary of an ascending channel, highlighting a potential retracement scenario. The most recent candle, a bearish signal, further supports the probability of a short-term corrective move towards the lower boundary of the ascending channel before resuming the upward momentum.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI currently stands at 67.71, nearing the overbought territory of 70. This signals that BTCUSD may experience limited upside potential in the short term, reinforcing expectations of a temporary pullback or consolidation period.
MACD (Moving Average Convergence Divergence): The MACD histogram remains positive, though bars are slightly shortening, indicating a potential weakening in bullish momentum. Traders should observe the MACD line closely for signs of a bearish crossover, which would confirm a shift towards downward pressure.
Stochastic Oscillator: Currently reading at 87.40, the Stochastic indicator clearly signals an overbought condition. This technical evidence strongly supports the likelihood of a forthcoming corrective move or a temporary bearish reversal before bulls regain control.

Support and Resistance:
Support: Immediate support lies near $84,200, the lower boundary of the ascending channel, followed by a stronger support around the previous resistance-turned-support at $82,260.
Resistance: Initial resistance is currently observed at $87,870, coinciding with the top boundary of the ascending channel. Breaking above this could target the psychological resistance at $90,000.

Conclusion and Consideration:
BTC-USD on the H4 timeframe remains overall bullish following a breakout from a prior downtrend. However, the current technical indicators strongly suggest a potential short-term correction due to overbought conditions. Traders should exercise caution and closely monitor upcoming fundamental events from the US economic calendar, which might significantly impact short-term volatility. Proper risk management is recommended during these potentially turbulent trading conditions.

Disclaimer: The analysis provided for BTC/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on BTCUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.25.2025

GBPUSD Daily Technical and Fundamental Analysis for 03.26.2025 (https://fxglory.com/2025/03/26/gbpusd-daily-technical-and-fundamental-analysis-for-03-26-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBPUSD currency pair remains a key focus for traders navigating both UK and US economic shifts. Today, significant UK inflation data was released, with CPI y/y holding steady at 3.0%, while Core CPI came in slightly lower than forecast at 3.6%, suggesting inflationary pressures may be softening. RPI and HPI also declined marginally, which could reduce pressure on the Bank of England to raise rates aggressively. Adding to the volatility, the UK government’s Annual Budget Release is due later today, which may trigger fiscal policy changes impacting GBP sentiment. On the US side, market attention shifts to Core Durable Goods Orders, which came in at 0.2% versus a flat forecast, and Durable Goods Orders dropped by -1.1%, under expectations. Meanwhile, upcoming FOMC speeches and Crude Oil Inventories data may introduce short-term fluctuations in USD value. This mixed data outlook underpins a cautious tone in today's GBPUSD H4 fundamental chart analysis.

Price Action:
The GBPUSD H4 chart reveals a textbook price action setup. After a strong bullish impulse that lifted the pair above the 1.30 psychological zone, price corrected and entered a bearish flag channel, showing signs of consolidation and exhaustion. The price has tested the 23.6% Fibonacci retracement level twice but failed to close convincingly below it, highlighting it as a key pivot zone. Now, GBPUSD is attempting a third break beneath this level, and a successful move could accelerate downside momentum. The current structure fits within a bearish continuation pattern following an impulsive move up—often a signal that more downside correction is likely in the short term.

Key Technical Indicators:
MACD (12,26,9): The MACD histogram is marginally below the zero line, and both MACD and signal lines are in bearish alignment. This setup suggests bearish momentum may soon gain traction if the MACD begins widening negatively.
RSI (14): The RSI is currently hovering around the neutral zone (50.34), slightly tilted downward, reflecting weakening bullish momentum and potential readiness for a deeper bearish wave. If RSI dips below 45, it would confirm increasing selling pressure.

Support and Resistance:
Support: Key support levels for GBPUSD on the H4 chart include 1.2905 (23.6% Fibonacci), 1.2825 (38.2%), and 1.2750 (50%), marking critical zones for potential bearish continuation.
Resistance: Key resistance levels for GBPUSD are 1.3010 (channel top) and 1.3060 (swing high), both acting as major hurdles for bullish continuation.

Conclusion and Consideration:
In conclusion, the GBPUSD pair, as observed on the H4 chart, is entering a sensitive zone where momentum indicators and price structure suggest potential bearish continuation. The combination of soft UK inflation data and cautious US economic indicators adds weight to this bearish sentiment. The bearish flag pattern, repeated tests of Fibonacci support, and weakening RSI and MACD signals all point to a possible breakdown scenario. However, traders should remain cautious ahead of the UK Annual Budget Release and FOMC member speeches which may cause sharp intraday volatility. This GBPUSD H4 technical and fundamental analysis highlights the importance of monitoring upcoming price action around the 23.6% Fibonacci level as a decision point.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.26.2025

GOLDUSD (XAUUSD) H4 Technical and Fundamental Analysis for 03.27.2025 (http://"https://fxglory.com/2025/03/27/goldusd-xauusd-h4-technical-and-fundamental-analysis-for-03-27-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
GOLD-USD (XAU/USD) is currently experiencing volatility influenced by today's significant economic news releases from the US. Upcoming remarks by US President Donald Trump concerning auto tariffs and the scheduled interview with Newsmax TV may create substantial fluctuations in USD valuation, directly impacting GOLD USD price movements. Additionally, critical economic indicators such as GDP data, Initial Jobless Claims, GDP Price Index, Trade Balance, Wholesale Inventories, Pending Home Sales, and Natural Gas Storage reports will further dictate market sentiment and trading volumes. Traders should remain cautious and monitor these fundamental catalysts closely for potential trading opportunities.

Price Action:
The H4 chart for XAU/USD indicates a corrective scenario, with the price recently breaking below key support lines and now hovering around a crucial horizontal support zone. This level aligns closely with the lower boundary of the Bollinger Bands, suggesting potential for a short-term consolidation or possible reversal. Recent candles display indecision, reflecting market uncertainty as buyers and sellers struggle to establish control. This price action indicates a pivotal moment for GOLD-USD, warranting careful monitoring for confirmation signals.

Key Technical Indicators:
Bollinger Bands: Bollinger Bands have contracted significantly, indicating low market volatility and signaling an impending breakout. Currently, GOLDUSD price is near the middle Bollinger Band (moving average), suggesting equilibrium between buyers and sellers. Traders should watch closely for a decisive breakout from the bands to determine the next significant market direction.
RSI (Relative Strength Index): The RSI currently shows clear bearish divergence, indicating weakening bullish momentum. At a level of around 49.82, RSI is neutral but the divergence suggests a potential downward corrective movement. This confirms the price action signal of possible further bearish pressure.
Parabolic SAR: The Parabolic SAR dots are positioned above the current price candles, clearly signaling bearish sentiment and suggesting the short-term trend favors sellers. Traders should view this as confirmation of the potential continuation of downward movement unless dots shift below price candles.
MACD (Moving Average Convergence Divergence): MACD histogram bars are decreasing and approaching the zero line, indicating weakening bullish momentum and a potential bearish crossover. If a crossover occurs, this would strengthen the bearish outlook significantly and provide further confirmation for downward price potential.

Support and Resistance Levels:
Support: Immediate horizontal support is clearly defined around the 3003.55 level, a critical zone aligning with the lower Bollinger Band, providing a strong base for short-term price action.
Resistance: Immediate resistance is identified around the 3035.00 mark, where the upper Bollinger Band and recent trend line converge, representing significant technical hurdles for bullish attempts.

Conclusion and Consideration:
The current technical scenario for XAUUSD on the H4 timeframe strongly indicates caution due to a potential bearish corrective move. Bearish divergence on RSI, Parabolic SAR indications, and weakening MACD histogram all collectively confirm this potential downside risk. However, significant fundamental catalysts from the US today could introduce volatility, altering the current technical setup. Traders are advised to carefully observe the price reaction around key support at 3003.55 and resistance at 3035.00, considering both technical confirmations and fundamental developments.

Disclaimer: The analysis provided for GOLD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GOLDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.27.2025

USDCAD H4 Technical and Fundamental Analysis for 03.28.2025 (https://fxglory.com/2025/03/28/usdcad-h4-chart-outlook-and-price-prediction-for-03-28-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, the USD-CAD currency pair is likely to experience increased volatility due to important economic announcements from both the US and Canada. From the US side, traders will focus closely on Federal Reserve members Thomas Barkin, Michael Barr, and Raphael Bostic's speeches, which may provide insights into future monetary policy direction, influencing the USD significantly. Moreover, the release of key economic data such as Personal Consumption Expenditures (PCE), Disposable Personal Income, Consumer Spending, and the University of Michigan Consumer Sentiment Index will play a critical role in gauging inflation and economic health. From Canada, GDP data from Statistics Canada will also be crucial, potentially impacting the CAD substantially as it reflects overall economic activity.

Price Action:
The USD/CAD price action in the H4 timeframe indicates the pair is currently trapped within a classic triangle pattern. Recently, the price has approached the upper descending resistance line of this triangle and reacted to it, creating bearish pressure at the resistance. This price behavior could potentially push USDCAD down towards the lower support boundary of the triangle, near the level of 1.42791. The last candle’s red color serves as confirmation of the bearish reaction, suggesting cautious trading as price could break out from either side of the triangle.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR dots for the last six candles are positioned below the current candle formation, indicating the presence of short-term bullish sentiment. However, given the recent bearish reaction from the resistance line, traders should remain cautious and await further confirmation.
RSI (Relative Strength Index): The RSI is currently at 51.45, signaling a neutral momentum as it is situated close to the mid-level (50). This indicates a market without immediate overbought or oversold conditions, thus allowing potential room for price movements in either direction based on upcoming economic data.
MACD (Moving Average Convergence Divergence): MACD shows diminishing negative histogram bars approaching the zero line, suggesting a decreasing bearish momentum. Traders should watch closely for a possible bullish crossover, which could indicate a shift towards a bullish outlook, provided the triangle resistance line is convincingly breached.
Stochastic Oscillator: The stochastic indicator currently reads around 75.85, showing proximity to overbought conditions. Given that the %K line is nearing the upper bound, it implies that there might be limited upside potential in the short term, thus supporting the case for a possible bearish pullback towards support levels.

Support and Resistance:
Support: Immediate technical support is located at the triangle’s bottom boundary around 1.42791, a significant zone where the price has previously reacted.
Resistance: The nearest resistance remains the descending trend line of the triangle pattern, currently near the 1.43060 mark, an important technical barrier for the bulls.

Conclusion and Consideration:
USD CAD H4 analysis currently suggests a cautious bearish outlook, primarily driven by the reaction at the resistance line within the triangle formation. Technical indicators display mixed signals; however, the price action strongly favors a potential short-term downside movement towards 1.42791. Traders should remain vigilant ahead of significant US and Canadian economic data and speeches today, which could lead to breakout moves from the triangle. Proper risk management and monitoring of the mentioned technical and fundamental aspects are advised.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.28.2025

EURGBP Daily Technical and Fundamental Analysis for 03.31.2025 (http://"https://fxglory.com/2025/03/31/eurgbp-daily-technical-and-fundamental-analysis-for-03-31-2025/")

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, EURGBP traders should closely monitor economic releases from both the Eurozone and the United Kingdom. The Eurozone is releasing the Import Price Index, Real Retail Sales, and CPI data from Germany and Italy, significant indicators affecting inflation and consumer spending. Stronger-than-forecast figures typically enhance the Euro's strength, reflecting economic resilience. Concurrently, GBP traders should watch closely the Bank of England's data on Money Supply, Mortgage Approvals, and Consumer Credit, which influence economic growth and consumer confidence. Higher-than-expected results generally support GBP strength.

Price Action:
The EUR-GBP H4 timeframe analysis demonstrates a prevailing bearish trend, although recent candles indicate bullish corrective momentum moving upward towards the Ichimoku Cloud. After four consecutive bullish candles, the latest candle has turned bearish, reflecting a potential bearish reaction around the 61.8% Fibonacci retracement level. Traders should observe whether price action confirms a bearish reversal at this critical resistance or resumes upward momentum towards cloud penetration.

Key Technical Indicators:
Ichimoku Cloud: Currently, the EUR GBP price is approaching the cloud resistance, indicating a potential struggle between bullish correction and overall bearish sentiment. Price rejection from the cloud boundary would reinforce bearish continuation signals.
MACD (Moving Average Convergence Divergence): The MACD histogram is narrowing toward the zero line, indicating reduced bearish momentum and potential for bullish pressure. However, as it remains negative, bearish sentiment is still technically intact.
RSI (Relative Strength Index): RSI stands at 57.20, indicating neutral-to-bullish momentum. Given the absence of overbought or oversold conditions, the indicator suggests price still has space for potential upward movement, but caution is recommended at current resistance levels.

Support and Resistance:
Support: Immediate support is seen at the 0.8330 price level, aligning with recent lows and the 38.2% Fibonacci retracement.
Resistance: The current resistance stands at approximately 0.8370, corresponding with the 61.8% Fibonacci level and Ichimoku Cloud bottom.

Conclusion and Consideration:
The EUR/GBP H4 technical and fundamental analysis indicates a critical decision point, as the pair tests key resistance at the 61.8% Fibonacci level and Ichimoku Cloud. The short-term bullish correction could lose momentum if resistance holds firm. Traders should closely monitor upcoming economic data releases, which could substantially influence market volatility and directional bias. A clear breakout or rejection at current levels will provide better entry signals.

Disclaimer: The analysis provided for EUR/GBP is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURGBP. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
03.31.2025

AUDUSD Daily Technical and Fundamental Analysis for 04.01.202 (https://fxglory.com/2025/04/01/audusd-daily-technical-and-fundamental-analysis-for-04-01-2025/)5

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, AUD/USD traders should closely monitor key economic events affecting both currencies. USD volatility is expected as Federal Reserve Bank of Richmond President Thomas Barkin addresses monetary policy and economic outlook, which could influence market expectations about future interest rate decisions. Additionally, the release of significant economic data, including the US ISM Manufacturing PMI, Construction Spending, and JOLTS Job Openings, will provide crucial insights into the health of the US economy, potentially impacting USD strength. For AUD, important events include retail sales data and commodity price changes, crucial for gauging Australia's economic health and the strength of the Australian dollar.

Price Action:
The AUD-USD H4 chart currently indicates a bearish market environment. The price recently found strong horizontal support, and a clear pin bar formation emerged at this support zone. Following the pin bar, a bullish green candle appeared, suggesting a potential move upwards toward the resistance level above for retesting. Currently, the price is near the lower boundary of the Bollinger Bands, supporting the potential for an upward price correction toward resistance levels.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands indicator on the AUD-USD H4 chart suggests the possibility of a corrective move, as the price touched the lower band. Typically, price action tends to revert towards the middle band after such scenarios. Additionally, the bands have widened significantly, implying high volatility, and may contract soon, potentially coinciding with price stabilization or consolidation.
Parabolic SAR: The Parabolic SAR dots are positioned above the price, highlighting the continuation of bearish sentiment. However, a narrowing gap between price action and these dots could soon signal a reversal if bullish momentum strengthens.
RSI (Relative Strength Index): Currently, the RSI indicator shows a reading of around 35, approaching oversold conditions. This reading signals weakening bearish momentum and suggests potential bullish corrective action in the near term.
MACD (Moving Average Convergence Divergence): The MACD histogram shows decreasing bearish momentum, indicating that sellers are losing control. A bullish crossover signal could appear soon, supporting upward corrective price action.
Williams %R: Williams %R has risen from extreme oversold territory (-70), suggesting buyers are regaining strength. A continued move upward from this level could further validate bullish sentiment.

Support and Resistance:
Support: Immediate horizontal support for AUD/USD is clearly established at around 0.62370, evidenced by recent price action and pin bar formation.
Resistance: The nearest resistance is identified around the Fibonacci 61.8% retracement at approximately 0.62670. A breakout above this level could target higher resistance areas near the 0.62820 level.

Conclusion and Consideration:
In conclusion, the AUD VS. USD H4 analysis indicates bearish sentiment currently prevails; however, technical indicators strongly support potential bullish corrective action. Traders should closely monitor today's key US and Australian economic releases and Fed speeches for volatility catalysts. Risk management remains critical due to anticipated market sensitivity.

Disclaimer: The analysis provided for AUD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.01.2025

EURUSD Daily Technical and Fundamental Analysis for 04.02.2025 (https://fxglory.com/2025/04/02/eurusd-daily-technical-and-fundamental-analysis-for-04-02-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EURUSD pair today may exhibit heightened volatility, with several key economic events scheduled for both the Eurozone and the United States. For the euro, early figures such as the French Government Budget Balance and Spanish Unemployment Change might influence sentiment, while the German 10-year bond auction could reflect market confidence in the Eurozone’s financial stability. On the U.S. front, ADP Non-Farm Employment Change and Factory Orders are critical indicators of economic momentum, and any surprise in these numbers could sway the dollar’s strength. Additional volatility could stem from speeches by President Trump and FOMC Member Kugler, as traders look for hints on future monetary policy direction. This confluence of fundamental events makes the EURUSD daily forecast highly reactive to news throughout the trading day.

Price Action:
On the EURUSD H4 chart, the price continues to trend within a well-defined descending channel. The pair recently tested the upper boundary of this bearish channel and failed to break above, respecting it as a static resistance zone. Notably, the ascending support trendline from the latest bullish wave has been broken, suggesting a shift in short-term momentum toward bearish territory. The price is now consolidating around 1.07800, and a decline toward the 23.6% Fibonacci retracement level at 1.07340 is probable if bearish pressure persists. This aligns with current EUR/USD H4 chart patterns, highlighting a possible continuation of the downtrend unless significant news alters sentiment.

Key Technical Indicators:
MACD (12,26,9): The MACD histogram shows slight bullish momentum fading, while the MACD and signal lines are converging below the zero line. This could signal a possible bearish crossover soon, strengthening the case for further downside. The weakening histogram bars point to diminishing buying interest, a crucial
RSI (14): The RSI currently stands at 46.03, indicating a neutral to slightly bearish condition. It is below the 50 mark, suggesting that bears are gaining traction without yet entering oversold territory. The EURUSD RSI indicator reflects weakening momentum but room for further downside before a reversal is considered.
Ichimoku Cloud: The Ichimoku Cloud on the EURUSD H4 chart has started forming a bullish wave, with the price moving inside the cloud. The baseline (Kijun-sen) is currently at 44.3, signaling early bullish momentum, though a clear breakout is still needed for confirmation.

Support and Resistance:
Support: The 1.07285 level stands out as a critical support, aligning with the 23.6% Fibonacci retracement and serving as a potential pivot point for bullish rebounds if selling pressure subsides.
Resistance: The 1.08530 resistance marks the top of the descending channel and a recent swing high, making it a key barrier for bulls to overcome to signal a potential trend reversal.

Conclusion and Consideration:
The EURUSD technical forecast for 02.04.2025 suggests a continuation of bearish bias within the descending channel on the H4 timeframe. The break below the recent bullish trendline and rejection from static resistance zones increase the likelihood of a bearish wave toward the 1.07340 Fibonacci support. With multiple high-impact economic events lined up today for both EUR and USD, including ADP jobs data, Factory Orders, and central bank speakers, market sentiment may shift rapidly. Traders should monitor key support at 1.07285 and resistance at 1.08530 closely, adjusting their strategies accordingly based on real-time developments.

Disclaimer: The analysis provided for EURUSD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.02.2025

BTCUSD H4 Technical and Fundamental Analysis for 04.04.2025 (http://"https://fxglory.com/2025/04/04/btcusd-h4-technical-and-fundamental-analysis-for-04-04-2025/")

Time Zone: GMT+3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The BTCUSD pair, which tracks the price of Bitcoin (BTC) against the US Dollar (USD), remains highly sensitive to both macroeconomic indicators and regulatory developments. Today, attention is focused on the US Non-Farm Payrolls (NFP), Unemployment Rate, and Average Hourly Earnings—key data points that impact USD strength and overall market sentiment. Additionally, several speeches from Federal Reserve officials, including Chair Jerome Powell, may trigger volatility if they provide clues about future monetary tightening or rate hikes. Strong job data and hawkish Fed tone could pressure Bitcoin, while dovish sentiment or weak employment numbers may support BTC. The market is bracing for sharp movements on the BTC/USD H4 chart, as traders react to this critical news.

Price Action:
The BTCUSD H4 chart shows that price recently pulled back after a local top near the 61.8% Fibonacci retracement level, indicating resistance. A bearish wave followed, pushing the price below the 50% and 38.2% Fibonacci levels. However, the last two candles show signs of bullish correction, with buyers attempting to regain control. Currently, BTC is moving upward from near the 23.6% Fib zone, with potential to retest the 38.2% level, which now acts as strong resistance. If BTC breaks above it with volume support, the next key resistance lies around the 61.8% Fib level. On the downside, failure to hold above 23.6% could expose the pair to deeper drops toward the March lows.

Key Technical Indicators:
Moving Averages (MA): The chart uses a short-term MA 9 (blue) and a longer MA 17 (orange). The short MA has recently crossed below the long MA, indicating a bearish crossover. Both lines are currently close together, signaling a potential trend shift or indecision. Price action is trying to climb above both MAs, which may hint at a short-term bullish recovery if sustained.
Volume: The volume indicator shows declining selling pressure and increasing interest in recent bullish candles. This suggests that buyers may be gradually stepping in after the recent dip, but confirmation is needed with a strong breakout.
Money Flow Index (MFI): Currently at 52.56, the MFI is in a neutral zone, indicating neither overbought nor oversold conditions. The slight upward curve suggests that capital is starting to flow back into BTC, supporting the recent bullish correction in price action.

Support and Resistance:
Support: The nearest support is located around the 23.6% Fibonacci level, near 81,781, which held during the recent dip and is critical for maintaining bullish momentum.
Resistance: The immediate resistance is at the 38.2% Fibonacci level, near 83,955, which must be cleared for further upside toward the 50% and 61.8% retracement zones.

Conclusion and Consideration:
The BTC USD H4 technical and fundamental analysis suggests the market is in a short-term recovery phase, with key resistance ahead. A bullish break above the 38.2% Fibonacci level could open the door for a move toward 86,000–88,000, while failure to hold support at 23.6% may lead to further decline. Traders should watch today’s USD news releases and Fed speeches closely, as they may heavily influence risk sentiment and USD volatility, ultimately impacting BTC’s direction.

Disclaimer: The analysis provided for BTC/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on BTCUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.04.2025

USD/JPY Daily Technical and Fundamental Analysis for 04.07.2025 (http://"https://fxglory.com/2025/04/07/usd-jpy-daily-technical-and-fundamental-analysis-for-04-07-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

B]Fundamental Analysis:[/B]
The USD-JPY currency pair is impacted today by critical economic releases from both the United States and Japan. From the U.S. side, the upcoming speech by Federal Reserve Governor Adriana Kugler titled "Inflation Dynamics and the Phillips Curve" could trigger volatility, particularly if her comments imply future monetary policy tightening. Additionally, U.S. consumer credit data will provide insights into consumer confidence and financial stability, influencing the strength of the USD. On the Japanese front, the release of Labor Cash Earnings and the Cabinet Office’s composite index will offer clarity on Japan’s economic health, potentially influencing the JPY through market expectations of consumer spending and overall economic conditions.

Price Action:
The USDJPY H4 timeframe has clearly broken the previous key support level, initiating a significant bearish trend. Price action has twice pulled back to retest the broken support line, confirming its role as a new resistance before continuing sharply downward. Despite recent bullish candles, the market gap at the opening signals a strong selling pressure and continued bearish sentiment. If bearish momentum persists, traders should look to Fibonacci extension levels, notably the 161.8% extension, as potential targets for the ongoing downtrend.

Key Technical Indicators:
Parabolic SAR: The last two dots appear below the current price, indicating a potential short-term bullish correction after the strong bearish momentum. Traders should monitor closely for a reversal of the indicator dots back above the price as confirmation of renewed selling pressure.
Bollinger Bands: Price recently pierced the lower Bollinger Band, indicating oversold conditions, followed by a corrective bounce back towards the midline. However, the overall widening of the band suggests ongoing volatility and potential continuation of the bearish trend once price approaches resistance areas.
MACD (Moving Average Convergence Divergence): The MACD histogram shows diminishing bearish momentum, signaling a potential short-term bullish correction. Nevertheless, the MACD line remains deeply below the zero line, indicating a prevailing bearish trend. Traders should remain alert to renewed bearish momentum.]RSI (Relative Strength Index):[/B] RSI currently stands at 36.27, recovering slightly from oversold territory. While indicating potential for further upside correction, RSI still emphasizes a prevailing bearish trend, cautioning traders to remain vigilant for resumed downward movement.
%R (Williams Percent Range): The %R indicator currently at -82.11 shows the market is still near oversold levels despite the recent minor upward correction. This highlights the possibility of limited upward corrections before a renewed downward push.

Support and Resistance Levels:
Support: Immediate significant support is at the recent low around 144.930. Breaking below this could lead to testing the Fibonacci 161.8% extension.
Resistance: Strong resistance is at the previous support-turned-resistance line at approximately 146.290, aligned with recent price action highs and Fibonacci retracement levels.

Conclusion and Consideration:
USD vs. JPY analysis on the H4 chart indicates robust bearish momentum supported by technical indicators despite short-term bullish corrections. Upcoming economic events for both currencies could introduce substantial volatility, affecting the pair’s direction significantly. Traders should be cautious of short-term bullish retracements and closely monitor resistance and support levels for potential breakout opportunities.

Disclaimer: The analysis provided for USD/JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDJPY. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.07.2025

NZD/USD Daily Technical and Fundamental Analysis for 04.08.2025 (https://fxglory.com/2025/04/08/nzd-usd-daily-technical-and-fundamental-analysis-for-04-08-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The NZD/USD currency pair is influenced today by two critical economic indicators. From New Zealand, the NZIER Survey of Business Opinion, a leading quarterly indicator of economic sentiment, will offer insights into the nation's business health and could strongly impact the NZD if the data significantly diverges from expectations. For the USD, traders will closely monitor the NFIB Small Business Index and comments by Federal Reserve Bank of San Francisco President Mary Daly regarding future monetary policy signals. Additionally, the weekly American Petroleum Institute (API) inventory report may indirectly affect USD sentiment via shifts in energy prices.

Price Action:
The NZD-USD H4 chart demonstrates a distinct bearish trend, as the pair recently experienced a strong downward movement followed by a mild correction upwards. The price is currently retesting a significant confluence zone, aligning precisely at the 100% Fibonacci retracement level and a horizontal support line, creating a stronger support region. If the correction concludes, price action indicates a potential continuation of the bearish momentum, targeting initially the Fibonacci level at 161.8%.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR points remain positioned above the current candlesticks, clearly confirming ongoing bearish sentiment. This indicator will remain bearish as long as price continues trading below the SAR dots.
RSI (Relative Strength Index): Currently at 35.20, the RSI indicator for NZDUSD H4 remains below the neutral 50 mark, indicating bearish momentum and room for further downside before reaching oversold conditions, reinforcing the bearish outlook.
MACD (Moving Average Convergence Divergence): The MACD histogram indicates bearish momentum, although bars are beginning to shorten slightly, suggesting reduced bearish pressure in the short term. Traders should monitor for a potential bullish crossover, signaling an upcoming shift in momentum.
Stochastic Oscillator: The Stochastic currently stands at 33.28, maintaining a bearish crossover, thus supporting ongoing bearish momentum. This indicator suggests that the pair may still have further downward movement potential before reaching oversold levels.

Support and Resistance:
Support: Immediate, strong support at 0.5535-0.5570 region (confluence of 100% Fibonacci level and horizontal support). Further downside target support at Fibonacci 161.8%, around 0.5420.
Resistance: Immediate resistance is located at the 0.5630 level (61.8% Fibonacci retracement), with higher resistance at the 50% Fibonacci level near 0.5680.

Conclusion and Consideration:
The NZD USD H4 technical analysis indicates continued bearish potential following completion of the recent correction. The robust confluence at the current support zone (100% Fibonacci and horizontal support) serves as a critical pivot; a decisive break downward could lead the price to further bearish targets at Fibonacci 161.8%. Fundamental events today will notably influence volatility and direction, particularly the NZIER Survey and US economic data releases. Traders should prepare for volatility spikes and closely observe indicator signals for momentum shifts.

Disclaimer: The analysis provided for NZD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on NZDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.08.2025

GBP/USD Daily Technical and Fundamental Analysis for 04.09.2025 (https://fxglory.com/2025/04/09/gbp-usd-daily-technical-and-fundamental-analysis-for-04-09-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today’s GBPUSD H4 forecast is influenced by a series of high-impact economic events for both the British Pound and the US Dollar. For the GBP, traders are awaiting the FPC Meeting Minutes and the FPC Statement, which could shed light on the UK’s financial stability outlook and potential policy adjustments by the Bank of England. Any signs of concern or hawkish sentiment could drive significant movement in GBPUSD. On the USD side, a packed economic calendar includes the Final Wholesale Inventories m/m, Crude Oil Inventories, and multiple FOMC-related events, most notably the FOMC Meeting Minutes later today. These will provide key insights into future interest rate trajectories and the Fed’s inflation outlook. The mixed expectations for inventory data and bond auction results may stir volatility, setting the stage for potential breakout movements in GBPUSD.

Price Action:
The GBPUSD pair on the H4 timeframe is currently trading within a well-defined descending channel, but the recent candlesticks show early signs of a bullish reversal. After testing the lower boundary of the channel, price action has started to form higher lows, indicating an attempt by buyers to regain control. A break above the upper boundary of this descending channel would confirm a bullish breakout, potentially opening the path toward the next key resistance levels. Today’s price action shows growing bullish momentum as price begins to lift away from the recent lows.

Key Technical Indicators:
RSI (14): Currently at 43.78, the RSI is climbing upward from oversold territory and signaling early bullish momentum. This suggests increasing buyer interest without entering overbought levels, supporting a potential continuation of the upward move.
MACD (12,26,9): The MACD histogram is contracting, and the MACD line is on the verge of crossing above the signal line, indicating a potential bullish crossover. This momentum shift suggests that the bears may be losing control, and a price increase may be imminent.
Stochastic Oscillator (5,3,3): The Stochastic has already turned bullish and currently shows values around 75.08 and 69.87, confirming a strong bullish bias. However, it is approaching overbought levels, so a short-term pullback could occur before a potential breakout.
Parabolic SAR: The Parabolic SAR dots have shifted below the price line, which is a classic bullish indicator. This reinforces the current upward move and signals the end of the recent bearish wave.

Support and Resistance:
Support: Support levels for GBPUSD on the H4 chart are seen at 1.2675, aligning with the recent swing low and the lower boundary of the descending channel, and at 1.2570, a key psychological level and former demand zone offering additional downside protection.
Resistance: Resistance levels for GBPUSD on the H4 chart are located at 1.2865, marking the upper boundary of the descending channel where a breakout could signal strong bullish continuation, and at 1.3000, a key psychological level and previous high.

Conclusion and Consideration:
The GBP USD H4 technical analysis indicates continued bearish potential following completion of the recent correction. The robust confluence at the current support zone (100% Fibonacci and horizontal support) serves as a critical pivot; a decisive break downward could lead the price to further bearish targets at Fibonacci 161.8%. Fundamental events today will notably influence volatility and direction, particularly the NZIER Survey and US economic data releases. Traders should prepare for volatility spikes and closely observe indicator signals for momentum shifts.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.09.2025

GOLD (XAU/USD) H4 Technical and Fundamental Analysis for 04.10.2025 (http://"https://fxglory.com/2025/04/10/gold-xau-usd-h4-technical-and-fundamental-analysis-for-04-10-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Gold prices are heavily influenced by economic data releases and central bank speeches, especially from the US. Today, traders are closely monitoring critical data from the US, including the Consumer Price Index (CPI) excluding food and energy, CPI overall, initial jobless claims, and several Federal Reserve members' speeches. A higher-than-expected CPI reading or hawkish comments from Fed officials could strengthen the USD and exert downward pressure on Gold, whereas weaker economic data and dovish comments might boost Gold as a safe-haven asset.

Price Action:
Currently, GOLD H4 analysis shows price breaking the previous support trend line, indicating a bearish shift. The recent bullish movement has retraced to the upper band of the Bollinger Bands, coinciding with the critical 23.6% Fibonacci retracement level. A red bearish pin bar confirms selling pressure, suggesting a potential move downward toward the 38.2% Fibonacci retracement level and possibly lower.

Key Technical Indicators:
Bollinger Bands: Gold price touched the upper band and is now showing signs of retracement. The narrowing of bands indicates decreasing volatility, suggesting an upcoming significant price move, likely bearish in the short term.
Parabolic SAR: The dots are currently beneath the price candles, indicating recent bullish momentum. However, the proximity of price action suggests a possible imminent reversal to a bearish stance.
RSI (Relative Strength Index): The RSI is at 57.21, above the neutral midpoint but not yet at overbought levels, suggesting that there is still room for upward movement, but caution is warranted as momentum may weaken.
MACD (Moving Average Convergence Divergence): MACD remains below the zero line with decreasing bearish histograms. This indicates diminishing bearish momentum and hints at a potential short-term consolidation or reversal.
%R (Williams Percent Range): Currently at -16.78, signaling that price is near overbought territory and may soon correct downward, aligning with bearish expectations.

Support and Resistance Levels:
Support: Immediate support at 3052.06 (38.2% Fibonacci), with deeper support seen at 3004.98 (50% Fibonacci).
Resistance: Key resistance at 3095.14 (23.6% Fibonacci), and further strong resistance at the psychological 3122.68 level.

Conclusion and Consideration:
Technical indicators and recent price action analysis on GOLD H4 indicate a bearish pullback scenario in the short term. With price reacting strongly to the Fibonacci and Bollinger Band resistance, the possibility of further downside remains significant. Traders should remain vigilant for today's US economic data and Federal Reserve speakers, as these events could significantly influence volatility and the directional bias of Gold.

Disclaimer: The analysis provided for XAU /USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on XAUUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.10.2025

EURUSD Daily Technical and Fundamental Analysis for 04.11.2025 (http://"https://fxglory.com/2025/04/11/eurusd-daily-technical-and-fundamental-analysis-for-04-11-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
EUR/USD is expected to experience increased volatility today, influenced by significant economic events. Key speeches from Federal Reserve members, including New York Fed President John Williams and St. Louis Fed President Alberto Musalem, could indicate future monetary policy stances, directly impacting the USD. Furthermore, market participants will closely watch the University of Michigan's inflation expectations, consumer sentiment reports, and the US Producer Price Index (PPI). Meanwhile, Eurozone traders will evaluate Germany’s CPI data and anticipate updates from the Eurogroup meetings. These factors will likely play significant roles in shaping EUR/USD price movements today.

Price Action:
The EUR USD H4 price action clearly indicates a bullish breakout. The pair recently broke through the critical daily resistance line and retested it, confirming it as new support. Subsequently, EUR-USD breached the next resistance zone with three solid bullish candles, now serving as immediate support. However, the emergence of a doji and subsequent red candle suggests potential short-term bearish corrections, with the primary target likely the recently established support zone around 1.1110.

Key Technical Indicators:
Bollinger Bands: EUR/USD is trading above the upper Bollinger Band, signifying overextension and potential correction or consolidation in the near term. Traders should remain cautious about possible reversals or sideways movement.
Parabolic SAR: The Parabolic SAR dots remain below the current price, indicating ongoing bullish momentum in the EURUSD pair. However, traders should watch for potential reversal signs if SAR dots shift above the price.
RSI (Relative Strength Index): RSI currently stands at 66.98, approaching the overbought level (70). While this supports bullish momentum, the nearing overbought conditions suggest potential for a corrective move soon.
MACD (Moving Average Convergence Divergence): MACD demonstrates increasing bullish momentum, with the histogram bars expanding above the zero line. This indicates strong buyer presence, yet traders must remain cautious for any bearish divergence forming.
Awesome Oscillator: The Awesome Oscillator indicates bullish strength, as evidenced by growing green bars above the zero line. This supports the bullish scenario but, like other indicators, advises caution for any impending correction.

Support and Resistance:
Support: Immediate support is located at the recently broken resistance turned support zone around 1.1110, followed by the significant daily level at 1.1094.
Resistance: Current resistance stands at recent highs near 1.1200, with the psychological level of 1.1250 as the next major barrier.

Conclusion and Consideration:
The EURUSD pair remains bullish on the H4 chart, supported by multiple technical indicators including Bollinger Bands, MACD, RSI, Parabolic SAR, and the Awesome Oscillator. However, given the current overextended conditions and fundamental factors, traders should prepare for potential corrections toward the immediate support zone at 1.1110. Significant economic announcements and Fed member speeches scheduled for today could lead to heightened volatility, thereby warranting careful risk management.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.11.2025

Honestly, the situation with EUR/USD right now is pretty tense and requires caution.

I definitely wouldn’t jump in at the top, even if the technical picture looks good on the surface.

Think about it — the pair broke above an important level, but there are already early signals of a possible correction: we’ve got a doji, RSI is almost in the overbought zone, and the Bollinger Bands are showing that the market is overheated.

Plus, there’s a whole wave of fundamental news coming — speeches from Fed members, US inflation expectations, Germany’s CPI.

atch the price reaction. But honestly, it might be smarter to stay out of the market until the evening when the news settles down. The market is running purely on news right now, and trying to catch a reversal on an overextended move isn’t the safest idea.

Protect your deposit and don’t jump in where you can’t clearly manage the risk. That is just my imho, though. I am not a forex guru. But if you have enough experience and can pass the test, you may try to earn more with forex prop firm (https://falconfunded.com) for example. That's what I would do, at least.

SILVER (XAG/USD) Technical and Fundamental Analysis for 04.14.2025 (https://fxglory.com/2025/04/14/silver-xag-usd-technical-and-fundamental-analysis-for-04-14-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Silver (XAG/USD) today may experience volatility due to scheduled remarks from Federal Reserve Bank of Richmond President Thomas Barkin and Federal Reserve Governor Christopher Waller. Both are expected to speak about the economic outlook and monetary policy, potentially impacting USD strength. Hawkish comments could boost the dollar, putting downward pressure on Silver prices. Traders should closely monitor these speeches as they may contain subtle clues on future monetary policy actions, significantly influencing Silver's short-term price direction.

Price Action:
XAG/USD H4 analysis indicates a strong bullish momentum after a robust reaction at the support line around 28.759. Following this reaction, an impressive engulfing candle initiated a steady upward trend, effortlessly breaching the first resistance level at 30.928. Currently, Silver prices are approaching Resistance Line 2 at 32.272, demonstrating a clear intent to break above it, supported by multiple consecutive green candles. However, traders should watch for a possible correction around Resistance 2, with the Ichimoku cloud potentially serving as a target for retracement.

Key Technical Indicators:
Ichimoku: Silver prices on the H4 timeframe have successfully broken through the Ichimoku cloud, signaling strong bullish sentiment. The cloud's bullish crossover (Kumo Twist) further supports the potential continuation of upward movement. However, the cloud also suggests potential retracement targets, indicating caution around the upcoming resistance.
RSI (Relative Strength Index): The RSI currently stands at 69.41, approaching the overbought threshold of 70. This indicates strong bullish momentum but also warns of possible short-term corrective moves due to potential profit-taking at elevated levels. Traders should remain vigilant for signs of RSI reversal.
StdDev (Standard Deviation): The Standard Deviation indicator is at 0.7037, signaling relatively moderate volatility. The current moderate increase in StdDev suggests traders should prepare for potential volatility spikes as prices approach critical resistance levels, potentially prompting significant price actions.

Support and Resistance:
Support: Immediate support is identified at 30.928 (previous resistance turned support), followed by stronger support at 28.759.
Resistance: Immediate resistance at 32.272 (Resistance 2), with a potential further target at 33.182 if a breakout occurs.

Conclusion and Consideration:
The SilverH4 chart analysis demonstrates significant bullish strength, reinforced by favorable technical indicators such as Ichimoku, RSI, and StdDev. Despite the bullish bias, traders should cautiously monitor price actions near Resistance Line 2 (32.272), as a correction towards the Ichimoku cloud may unfold. Upcoming Fed speeches today could also influence Silver price movements, emphasizing careful risk management strategies.

Disclaimer: The analysis provided for XAG/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on XAGUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.14.2025

USDCAD Daily Technical and Fundamental Analysis for 04.15.2025 (http://"https://fxglory.com/2025/04/15/usdcad-daily-technical-and-fundamental-analysis-for-04-15-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/CAD currency pair is poised for volatility as significant economic data is anticipated from Canada. Upcoming key releases include housing starts from CMHC, consumer price index (CPI) metrics, and manufacturing sales data from Statistics Canada. These indicators will offer insights into Canada's economic health and inflation trends, influencing the Bank of Canada's future interest rate decisions. Additionally, today, remarks from Federal Reserve members Patrick Harker and Raphael Bostic, along with the New York Manufacturing Index and Import Price Index releases, could introduce volatility into the USD and indirectly affect USD-CAD movements.

Price Action:
Analyzing USDCAD H4 price action, after breaking the previous ascending trend line, the pair has begun a clear downtrend. The price reacted notably at the 61.8% Fibonacci retracement level, suggesting strong buying interest. Currently, price action indicates a possible retracement towards the next resistance, which aligns with the 50% Fibonacci level and EMA 21. A noticeable divergence is observed between price action and RSI, signaling potential bullish retracement.

Key Technical Indicators:
EMA 21: The price remains below the 21-period Exponential Moving Average (EMA), affirming a bearish sentiment. The EMA currently serves as dynamic resistance, and a retest at this EMA could determine the sustainability of the downtrend.
RSI: The Relative Strength Index (RSI) registers at 36.03, showing bearish sentiment but nearing oversold territory. Notably, divergence between price and RSI signals a potential bullish correction, suggesting traders should watch for reversal signals carefully.
MACD: The Moving Average Convergence Divergence (MACD) histogram indicates bearish momentum is slowing, as bars are reducing in size. This reduction suggests sellers' weakening control, highlighting the possibility of an upcoming bullish correction.
Stochastic: The Stochastic oscillator recently turned upwards from oversold territory, signaling short-term bullish momentum. This complements RSI's divergence, hinting at possible short-term upside movement.

Support and Resistance:
Support: Immediate support: 1.38135 (61.8% Fibonacci retracement) and secondary support are recent lows around 1.3770.
Resistance: Immediate resistance: 1.39645 (50% Fibonacci retracement, EMA 21) and secondary resistance could be 1.41155 (38.2% Fibonacci retracement).

Conclusion and Consideration:
In conclusion, the technical analysis for the USD/CAD H4 timeframe indicates a bearish trend continuation with potential for short-term bullish correction based on the EMA 21, RSI divergence, MACD weakening bearish momentum, and bullish Stochastic signals. Traders should consider upcoming economic releases from Canada and remarks from Federal Reserve members, which could significantly influence volatility. Proper risk management and close monitoring of these key indicators and news events are advised.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.15.2025

GBPUSD H4 Technical and Fundamental Analysis for 04.16.2025 (https://fxglory.com/2025/04/16/gbpusd-h4-technical-and-fundamental-analysis-for-04-16-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today is a pivotal day for the GBPUSD pair, as both the British Pound (GBP) and the US Dollar (USD) face key economic data releases. For the UK, inflation-related indicators including CPI y/y (2.7% vs 2.8% forecast), Core CPI y/y (3.4% vs 3.5%), RPI y/y (3.2% vs 3.4%), and HPI y/y (5.1% vs 4.9%) were released in the early hours. The slightly lower-than-expected CPI figures may reduce pressure on the Bank of England to hike rates, potentially weighing on the GBP. Later in the US session, the USD will be influenced by critical releases such as Retail Sales m/m, Core Retail Sales, and Fed Chair Powell’s speech, along with industrial production data and oil inventories. Strong US data may bolster the USD, while dovish or weaker results could sustain bullish momentum for GBPUSD.

Price Action:
The GBPUSD H4 chart shows a strong and steady bullish trend over the past few sessions. The pair has been posting consecutive higher highs and higher lows, confirming bullish momentum. Price action is consistently hugging the upper Bollinger Band, indicating strong buying pressure. The candles have shown minimal retracements, with smaller-bodied red candles suggesting shallow corrections within the ongoing uptrend.

Key Technical Indicators:
Bollinger Bands: The GBPUSD price is trending close to the upper Bollinger Band, indicating a continuation of bullish momentum. The bands are widening, suggesting increasing volatility and the potential for further upside. The price staying above the midline signals persistent buying interest.
MACD (12,26,9): The MACD histogram bars are increasing positively, and the MACD line remains above the signal line, reinforcing the bullish bias. There is no sign of divergence, and the indicator confirms strong momentum behind the GBPUSD uptrend on the H4 chart.
RSI (14): The RSI stands at 73.14, moving into overbought territory. This suggests that while the bullish trend is strong, the pair might be susceptible to a short-term pullback or consolidation. Traders should be cautious of potential profit-taking at this level.

Support and Resistance:
Support: Immediate and next support levels are found at 1.3180, aligned with the Bollinger Bands’ midline and recent consolidation, and 1.3100, a prior structure high near the lower Bollinger Band.
Resistance: Immediate resistance: 1.39645 (50% Fibonacci retracement, EMA 21) and secondary resistance could be 1.41155 (38.2% Fibonacci retracement).

Conclusion and Consideration:
The GBPUSD H4 technical and fundamental analysis indicates that the pair is in a strong bullish phase, backed by robust price action, bullish momentum indicators, and widening Bollinger Bands. However, the RSI entering overbought territory and the high-impact news scheduled for both GBP and USD today suggest caution. Traders should monitor the upcoming US retail sales and Powell’s speech for potential volatility. A break above 1.3260 may open doors to further upside, while a rejection could initiate a pullback towards 1.3180.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.16.2025

AUDUSD Daily Technical and Fundamental Analysis for 04.17.2025 (http://"https://fxglory.com/2025/04/17/audusd-daily-technical-and-fundamental-analysis-for-04-17-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, the AUD/USD pair faces significant volatility from critical economic news releases from Australia and the US. From Australia, employment data, including Employment Change and Unemployment Rate, will be in focus. Better-than-expected employment figures and a lower unemployment rate could strengthen the Australian Dollar, reflecting positive economic health and potentially increased consumer spending. Additionally, the NAB Business Confidence survey provides insights into the sentiment among Australian businesses, serving as a leading indicator for economic activity. On the US side, investors will closely watch the Treasury International Capital (TIC) data, Initial Jobless Claims, Philadelphia Fed Manufacturing Index, Residential Building Permits, Housing Starts, and Natural Gas Storage reports. Furthermore, speeches from Federal Reserve officials Michael Barr and Jeffrey Schmid will be scrutinized for signals on future monetary policy direction. Positive US data or hawkish Fed commentary could bolster the US Dollar, impacting AUDUSD price dynamics significantly.

Price Action:
The AUD-USD H4 chart has exhibited bullish momentum after shaping a clear double-bottom pattern, indicating a significant trend reversal. The price has recently breached the lower boundary of its ascending channel and is currently attempting a pullback towards the previously broken support level at 0.62286. At present, price action remains within a key resistance zone. If bullish momentum persists and the resistance is convincingly broken, the next potential target would be the upper boundary of the ascending channel. Conversely, failure to break this resistance could push the pair down to retest the EMA21 line or further down to the key level at 0.62286.

Key Technical Indicators:
EMA 21: The EMA 21 line is currently below the price, providing dynamic support and confirming the ongoing bullish momentum. Traders should watch for interactions with this line as a potential turning point.
Parabolic SAR: The Parabolic SAR dots remain below the price candles, indicating bullish sentiment remains intact for now. Traders should look for any flips of SAR dots to signal possible short-term reversals.
RSI: The RSI currently stands at 64.18, indicating moderately bullish momentum without being overbought. This suggests the pair may still have room for further upward movement before encountering significant selling pressure.
MACD: The MACD histogram is positive but declining, hinting at diminishing bullish momentum. Traders should watch closely for a potential bearish crossover, which could signal the onset of a corrective move or bearish reversal.

Support and Resistance Levels:
Support: Immediate dynamic support is at the EMA 21 line, followed by a key support level at 0.62286.
Resistance: Current resistance lies within the range of 0.6370 to 0.6380, coinciding with recent price action highs. Further resistance could be encountered at the upper channel boundary around 0.6400-0.6410.

Conclusion and Consideration:
The AUD USD pair remains bullish on the H4 timeframe, supported by price action and technical indicators. Traders should closely monitor today's significant USD news events, which are likely to increase volatility and could influence directional moves. If resistance at the 0.6370-0.6380 zone breaks, traders can expect further bullish continuation towards the channel's upper boundary. However, caution is advised due to the weakening MACD momentum and potential fundamental disruptions.

Disclaimer: The analysis provided for AUD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.17.2025

USDJPY Daily Technical and Fundamental Analysis for 04.18.2025 (http://"https://fxglory.com/2025/04/18/usdjpy-daily-technical-and-fundamental-analysis-for-04-18-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today’s USDJPY fundamental analysis centres on two potential catalysts. In Tokyo, traders await Japan’s Core CPI, the inflation yardstick that omits fresh‑food prices; a hotter‑than‑forecast print usually lifts the yen as bets on tighter Bank of Japan policy return. Stateside, attention turns to FOMC member Mary Daly’s remarks at UC Berkeley. Any hint of a more hawkish stance could bolster the dollar. The push‑and‑pull between an inflation‑sensitive JPY and a policy‑driven USD sets the stage for elevated volatility on the USD-JPY H4 chart in today’s session.

Price Action
From a USD JPY price‑action perspective, the pair has respected a well‑defined descending channel since late March, carving out successive lower highs and lower lows. Price is grinding along the channel’s mid‑line after slipping beneath the 61.8 % Fibonacci retracement at 143.75 and tagging a fresh swing low near 141.90. Candles remain predominantly bearish, with short‑lived upticks capped by the channel’s upper boundary—evidence that sellers still dominate intraday order flow.

Key Technical Indicators
Moving Averages: The 9‑period EMA (blue) stays beneath the 17‑period EMA (orange), reinforcing the prevailing bearish trend; every attempt to reclaim the faster average has stalled, turning these MAs into dynamic resistance.
RSI (14): Hovering around 40, the RSI reflects lingering downside momentum without dipping into oversold terrain, implying room for another leg lower before bullish exhaustion signals emerge.
Stochastic (5,3,3): The oscillator has rolled over from the 70‑zone and is crossing south of its signal line near 45, hinting that the latest corrective bounce is losing steam.

Support and Resistance
Support: Support sits around the confluence of the channel base and the 100 % Fibonacci level at 140.85‑141.00.
Resistance: Resistance is found at 143.75—the 61.8 % retracement—followed by 145.65 at the 50 % level and the channel’s upper trend‑line.

Conclusion and Consideration
Current USD/JPY H4 technical analysis underscores a dominant down‑trend, validated by converging indicators and persistent supply at moving‑average resistance. Unless Core CPI disappoints or Daly strikes an unexpectedly dovish tone, rallies toward 143.75 may tempt sellers targeting 141.00 and potentially 140.00. Intraday traders should track channel boundaries closely, while swing participants may wait for a confirmed break of either 143.75 or 140.85 before committing fresh positions in this USDJPY trading strategy.

Disclaimer: The analysis provided for USD/JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDJPY. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.18.2025

GOLDUSD H4 Technical and Fundamental Analysis for 04.21.2025 (https://fxglory.com/2025/04/21/goldusd-h4-technical-and-fundamental-analysis-for-04-21-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
XAUUSD (Gold vs. US Dollar) traders are closely monitoring today's key economic events impacting the USD. The upcoming speech by Federal Reserve Bank of Chicago President Austan Goolsbee may provide crucial insights into future monetary policy. Hawkish statements may strengthen the USD, potentially putting pressure on Gold prices. Additionally, the release of the Conference Board's Leading Indicators Index will give investors further clarity on the US economy’s trajectory, possibly affecting USD strength and subsequently influencing Gold market sentiment. Moreover, IMF meetings discussing global economic stability, monetary policy, and geopolitical risks could significantly impact market volatility for XAU/USD.

Price Action:
XAU-USD on the H4 chart demonstrates a clear bullish trend, steadily approaching its previous all-time high (ATH). The price action shows consistent upward movement with minor corrective pullbacks, confirming the resilience of the bullish momentum. Currently, the price is nearing the Fibonacci 0 level, indicating strong bullish sentiment. The short-term Moving Average (MA 9, blue) has crossed above the longer-term Moving Average (MA 17, orange), signaling bullish continuation potential.

Key Technical Indicators
Moving Averages (MA): On the H4 timeframe, the short-term MA (9-period, blue) has decisively crossed above the long-term MA (17-period, orange), confirming bullish momentum. This bullish crossover is typically viewed as a strong positive signal by traders, indicating the potential for further upward price movements.
RSI (Relative Strength Index): The RSI currently stands at 74.05, signaling strong bullish momentum and slightly overbought conditions. This implies that although bullish sentiment dominates, traders should remain cautious of potential corrective pullbacks due to overbought conditions.
MACD (Moving Average Convergence Divergence): The MACD indicator remains positive, with the MACD line clearly above the signal line, highlighting strong upward momentum. The histogram also supports ongoing bullish strength but traders should monitor for decreasing momentum as the price approaches resistance levels.
Stochastic Oscillator: The stochastic oscillator is positioned at 66.01, exhibiting upward momentum without being excessively overbought. This suggests room for further bullish advancement but advises caution as the indicator approaches higher threshold values.
Volume: Trading volumes have been stable, supporting the recent bullish price movements. Consistent volumes confirm sustained market interest, adding reliability to the ongoing bullish trend for XAUUSD.

Support and Resistance
Support: Immediate support lies around the 3278.73 level (Fibonacci 23.6%), aligning with recent consolidation zones.
Resistance: Critical resistance is the current ATH around the 3340.39 mark, where significant selling pressure may appear.

Conclusion and Consideration
The XAUUSD/GOLDUSD H4 analysis suggests bullish market conditions remain intact, reinforced by bullish MA crossover, strong RSI, MACD positivity, and supportive volumes. However, traders should closely watch key economic events today, including the Fed speech, Leading Indicators release, and IMF meetings, which could create considerable market volatility. Due to RSI's overbought conditions, traders are recommended to consider prudent risk management strategies for potential short-term pullbacks around the resistance levels.

Disclaimer: The analysis provided for XAU/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on XAUUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.21.2025

EURUSD H4 Technical and Fundamental Analysis for 04.22.2025 (https://fxglory.com/2025/04/22/eurusd-h4-technical-and-fundamental-analysis-for-04-22-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, significant volatility could impact EUR vs. USD due to crucial speeches from ECB President Christine Lagarde and multiple Federal Reserve officials. Christine Lagarde’s speech, closely followed by traders, may provide insights into future ECB monetary policy, influencing the Euro significantly. Simultaneously, speeches from Federal Reserve officials including Governor Philip Jefferson and presidents Patrick Harker and Neel Kashkari will offer insights into the Fed’s monetary policy stance and economic mobility objectives, influencing the USD’s strength and market expectations. Traders should closely monitor these events for potential market shifts.

Price Action:
EUR/USD price action on the H4 timeframe demonstrates a consolidation pattern between two key trend lines. After encountering strong resistance at the Fibonacci Expansion (FE) 61.8% level, the pair has retraced downwards. The support trend line below is likely to attract buyers, potentially ending the correction phase and prompting the pair to retest the resistance at the FE 61.8% level. Successful bullish momentum above this resistance could propel EUR/USD toward the FE 100% expansion target, marking significant upside potential.

Key Technical Indicators:
MACD: The MACD indicator currently shows declining bullish momentum with the histogram bars decreasing in height, suggesting the ongoing bullish trend is losing strength. Traders should monitor closely for a potential bearish crossover that might indicate a temporary shift towards bearish sentiment.
RSI: The Relative Strength Index (RSI) is at 67.29, approaching overbought territory but still providing room for further upward movement. This indicates underlying bullish momentum, yet caution is recommended due to the proximity to overbought conditions, potentially signaling a short-term price correction.
Williams %R: The Williams %R indicator stands at -26.18, highlighting moderate bullish sentiment. However, it is gradually declining, indicating a decrease in bullish strength and the possibility of price consolidation or correction before the next bullish advance.

Support and Resistance:
Support: Immediate support is located near the ascending trend line at approximately 1.1500, providing a critical area for buyers to re-enter the market.
Resistance: The immediate resistance is set at the FE 61.8% Fibonacci Expansion level around 1.1568, acting as a formidable barrier for bulls. A break above this level targets the FE 100% expansion at approximately 1.1750.

Conclusion and Consideration:
EUR-USD technical analysis for the H4 timeframe reveals a bullish bias with current consolidation near key Fibonacci resistance levels. While the MACD indicates weakening bullish momentum and RSI nearing overbought conditions, the broader bullish trend remains intact, supported by price action analysis. Traders should exercise caution due to high-impact news events from the ECB and Federal Reserve officials, potentially leading to increased volatility. Monitoring closely for clear breakout signals above resistance or bounce confirmations at support is recommended for optimal trading strategies.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.22.2025

GBPUSD Daily Technical and Fundamental Analysis for 04.23.2025 (https://fxglory.com/2025/04/23/gbpusd-daily-technical-and-fundamental-analysis-for-04-23-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD currency pair reflects the exchange rate between the British Pound (GBP) and the US Dollar (USD). Today’s UK Flash Manufacturing PMI fell to 44.0 (from 44.9), reinforcing concerns over a contraction in UK industrial output, while the Flash Services PMI dipped to 51.5 (from 52.5), suggesting softer service sector growth. Meanwhile, US Flash Manufacturing and Services PMIs also disappointed at 49.0 and 52.8 respectively, below forecasts, which may dampen USD demand ahead of Fed speakers Goolsbee and Waller this afternoon. Later UK events, including BOE Governor Bailey’s remarks at 21:00 and MPC Member Breeden at 11:30, could reignite pound volatility if hawkish or dovish cues emerge. Overall, mixed PMI signals and high profile central bank commentary are set to drive market volatility and directional bias in this GBPUSD H4 forex analysis.

Price Action:
On the GBPUSD H4 chart, price action shows a decisive bullish breakout above a key resistance zone around 1.2700, confirming a shift in market sentiment. The price line is currently holding above the 100 period moving average (MA100), indicating medium term bullish momentum on the daily chart. The last three candlesticks suggest a potential pullback toward the broken resistance—now acting as support—and the MA100 before the next leg higher. This behavior underscores classic retest dynamics, often seen in professional technical analysis of forex pairs.

Key Technical Indicators:
100 Period Moving Average (MA100):The price line has recently broken above a strong resistance band and is now positioned comfortably above the MA100 on the H4 chart. This crossover signals a bullish trend in the medium term, suggesting buyers are firmly in control. Traders often view a sustained close above the MA100 as confirmation of upward momentum in GBPUSD H4 technical analysis.
MACD (Moving Average Convergence Divergence):The MACD line sits above its signal line, and the histogram bars are expanding, reflecting growing bullish power. This bullish MACD configuration aligns with the breakout, reinforcing the momentum case for GBPUSD. Watch for any narrowing of the histogram, which could herald a short term consolidation or retest before continuation.

Support and Resistance:
Support: Immediate support levels are identified at 1.32300 and 1.32000. These areas could serve as potential entry points on a pullback.
Resistance: Resistance levels are located at 1.33000 and 1.34000. A sustained break above these levels would confirm further bullish momentum.

Conclusion and Consideration:
The GBPUSD H4 technical analysis reveals sustained bullish momentum, confirmed by the MA100 breakout, bullish MACD, and supportive RSI levels. A healthy retest of the 1.2700 support—aligned with the MA100—could offer an optimal entry for buyers looking to capitalize on the next bullish wave. However, traders should exercise caution around the upcoming fundamental catalysts: US Fed speakers Goolsbee and Waller, UK BOE Governor Bailey, and PMI data that have already underperformed. Volatility spikes are likely, making strict risk management essential in this daily chart analysis for GBPUSD H4.

Disclaimer: The analysis provided here is for informational purposes only and should not be considered financial advice. Market conditions can change rapidly, and traders should perform their own research and analysis before making trading decisions. Past performance is not indicative of future results. Always trade responsibly.

FXGlory
04.23.2025

BTC/USD H4 Daily Technical and Fundamental Analysis for 04.24.2025 (https://fxglory.com/2025/04/24/btc-usd-h4-daily-technical-and-fundamental-analysis-for-04-24-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
BTC-USD trading today may be significantly impacted by several USD economic events. The speech from Federal Reserve Bank of Cleveland President Beth Hammack may provide critical insight into future monetary policy, particularly regarding the Federal Reserve's balance sheet management, affecting USD strength. Additionally, key economic releases such as Initial Jobless Claims, Durable Goods Orders, and Existing Home Sales are expected to create volatility in the USD. BTC traders should closely monitor these USD developments as they may indirectly influence cryptocurrency market sentiment and BTCUSD volatility.

Price Action:
BTCUSD has recently broken its previous downward trend and initiated a bullish trajectory on the H4 chart. After a notable upward move, BTC/USD is currently undergoing a corrective phase, pulling back toward a critical technical support area at the intersection of two trendlines. Recent candlestick patterns with extended upper and lower wicks indicate considerable price instability and indecision among traders, signaling potential volatility ahead.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR dots are placed below the BTCUSD candlesticks, indicating ongoing bullish momentum. However, the decreasing spacing between dots suggests the momentum could be weakening, hinting at a potential trend reversal if price continues correcting.
RSI (Relative Strength Index): RSI currently stands at 82.12, clearly within overbought territory. This implies that BTCUSD could be vulnerable to short-term corrections as buyers might begin to lose momentum, potentially providing entry points for traders anticipating pullbacks.
MACD (Moving Average Convergence Divergence): The MACD histogram remains positive but shows declining momentum as the bars gradually decrease. This signals diminishing bullish sentiment, and traders should watch for a possible bearish crossover that might indicate further downside risk.
%R (Williams Percent Range): The %R indicator is at -10.17, which is in the overbought region. This aligns with RSI, further indicating that BTCUSD may experience a corrective pullback or sideways consolidation in the near term.

Support and Resistance:
Support: Immediate BTCUSD support is identified near the critical cross-point of two trendlines around the $92,000 area, closely followed by a psychological support at $90,000.
Resistance: Key resistance for BTCUSD is observed near the recent high of approximately $94,500, beyond which further bullish acceleration might target the significant psychological level of $95,000.

Conclusion and Consideration:
The BTC-USD H4 chart currently maintains bullish momentum, supported by technical indicators such as the Parabolic SAR and MACD. However, the price action coupled with RSI and %R in overbought territory strongly suggests that a short-term correction or consolidation could occur before any further significant bullish continuation. Traders should remain vigilant of upcoming USD economic news events today, as they may significantly influence BTCUSD market sentiment and volatility.

Disclaimer: The analysis provided for BTC/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on BTCUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.24.2025

USDCAD Daily Technical and Fundamental Analysis for 04.25.2025 (https://fxglory.com/2025/04/25/usdcad-daily-technical-and-fundamental-analysis-for-04-25-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, the US Dollar (USD) and Canadian Dollar (CAD) face significant economic events that could impact the USD-CAD currency pair. From the USD perspective, attention will be on Federal Reserve member Neel Kashkari's discussion at the University of Minnesota, consumer sentiment data from the University of Michigan, and IMF discussions on global economic stability. Stronger-than-expected data and a hawkish stance by Kashkari could bolster USD strength. For the CAD, traders await core retail sales and total retail sales reports, alongside participation in IMF discussions. Positive retail sales numbers would strengthen the CAD, potentially impacting USD/CAD negatively.

Price Action:
Analyzing USDCAD price action on the H4 chart, we observe a persistent bearish trend line, currently acting as a dynamic resistance. Price has approached this descending trend line and is presently trapped within the Ichimoku cloud. The price action indicates indecision and consolidation, signaling caution. Given the current momentum, a breakout above the trend line at the first attempt seems less likely, and traders should monitor price closely for further confirmation.

Key Technical Indicators:
Ichimoku Cloud: The price is currently stuck within the Ichimoku cloud, highlighting a neutral bias in the short term. The cloud's thickness implies substantial resistance, making an immediate bullish breakout challenging. Traders should await a clear breakout above or rejection from the cloud for decisive trading signals.
Stochastic Oscillator: The Stochastic indicator currently shows values around 37, indicating neutral market conditions. The oscillator is neither oversold nor overbought, suggesting the market could continue to consolidate near the trend line resistance. Traders should watch for a decisive turn upwards or downwards in the Stoch as an early sign of potential momentum shift.

Support and Resistance Levels:
Support: Immediate support is located at 1.3850, marked by recent price consolidation lows.
Resistance: Critical resistance stands at the descending trend line around the 1.3900 level, coinciding with the Ichimoku cloud top.

Conclusion and Consideration:
The USD CAD H4 technical analysis highlights ongoing bearish bias with strong resistance at the descending trend line and Ichimoku cloud. Fundamental events today could significantly influence market direction, with USD and CAD news providing volatility and clearer price action signals. Traders should closely observe the fundamental releases and wait for confirmed breakouts or rejections from key technical levels before entering trades.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.25.2025

EURGBP Daily Technical and Fundamental Analysis for 04.28.2025 (https://fxglory.com/2025/04/28/eurgbp-daily-technical-and-fundamental-analysis-for-04-28-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR-GBP currency pair is facing mixed fundamental drivers today. For the British Pound (GBP), the Confederation of British Industry (CBI) is set to release its Distributive Trades Survey, a leading indicator of consumer spending. A stronger-than-expected result could boost GBP strength. Meanwhile, the Euro (EUR) is influenced by the quarterly Unemployment Rate released by the National Statistics Institute. A lower-than-forecast unemployment figure would support the EUR. Traders must remain cautious, as both indicators could inject notable volatility into the EURGBP pair, impacting short-term market sentiment.

Price Action:
On the EURGBP H4 chart, price action analysis shows that the pair is moving in a consistent bearish trend, forming lower highs as seen from the descending trendline. Despite a recent small bullish reaction from the support zone, the overall momentum remains to the downside. The price is struggling to break above the downward trendline resistance, suggesting sellers are still dominant. The last candles are showing indecision, indicating that a breakout or further rejection may soon define the next directional move.

Key Technical Indicators:
Volumes: Volume activity has recently decreased, which signals a lack of strong conviction from either buyers or sellers. This low volume environment often precedes a potential breakout, suggesting traders should watch for any volume spikes to confirm future direction.
RSI (Relative Strength Index): The RSI for EUR/GBP on H4 stands at 42.30, reflecting bearish momentum but not yet reaching the oversold territory. This suggests that the pair still has room to fall before becoming technically oversold, in line with the current bearish trend.
MACD (Moving Average Convergence Divergence): The MACD histogram remains slightly negative, and both MACD and signal lines are moving sideways below the zero line. This indicates ongoing bearish momentum but with a possible early sign of weakening selling pressure, hinting at a potential consolidation phase.

Support and Resistance:
Support: Immediate support is established around 0.85216, a level that previously acted as a strong floor and recently triggered a small bounce.
Resistance: The nearest resistance is aligned with 0.86170, coinciding with previous highs and the descending trendline, acting as a critical barrier for bullish attempts.

Conclusion and Consideration:
The EUR GBP H4 technical and fundamental chart daily analysis suggests a bearish bias remains dominant for the short term. Volumes are low, MACD is showing slight bearish momentum, and RSI indicates more downside room. However, traders should stay alert to potential changes in price action, especially considering today's scheduled economic releases for EUR and GBP. Fundamental surprises could trigger sharp movements outside of the current technical setup. Until a confirmed breakout above the descending trendline occurs, the bias favors selling rallies near resistance levels.

Disclaimer: The analysis provided for EUR/GBP is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURGBP. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.28.2025

EURUSD Daily Technical and Fundamental Analysis for 04.29.2025 (https://fxglory.com/2025/04/29/eurusd-daily-technical-and-fundamental-analysis-for-04-29-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's fundamental landscape is focused on significant economic indicators for both the Euro and the US Dollar. The Euro faces important consumer sentiment data from NIQ, providing insights into the financial confidence of European consumers. Traders will closely monitor this release, as increased consumer confidence typically strengthens the EUR. The USD, meanwhile, awaits trade balance figures and housing market updates. Positive US trade data and robust housing prices could bolster the USD, influencing EURUSD volatility significantly.

Price Action:
The EUR/USD price action analysis on the H4 chart indicates a possible end to the corrective phase. Previously, EUR-USD broke the initial ascending trend line, subsequently finding solid support at a second trend line. Currently, the price has rebounded upward, penetrating into the Ichimoku cloud (Kumo). The ongoing bullish candle formation suggests an attempt to retest the previously broken trend line resistance, potentially signaling a continuation of the broader bullish trend.

Key Technical Indicators:
Ichimoku Cloud: EUR USD price is currently trading inside the Kumo cloud, suggesting indecision or a transitional phase in the market. However, its upward direction within the cloud indicates bullish strength attempting a trend resumption. Traders should watch closely for a definitive breakout above the cloud for confirmation.
RSI (Relative Strength Index): RSI is at 55.09, reflecting neutral market conditions. This position implies that EURUSD has sufficient room to extend its bullish movement without reaching overbought conditions. The indicator supports bullish sentiment but remains neutral enough to accommodate further upward moves.
MACD (Moving Average Convergence Divergence): The MACD histogram is narrowing, signaling diminishing bearish momentum. A potential bullish crossover is likely, which would reinforce the bullish momentum and support a positive outlook for EUR-USD in the near term.

Support and Resistance:
Support: Immediate support is firmly established at 1.1310, corresponding to recent lows and the second trend line support.
Resistance: Immediate resistance is at the previously broken ascending trend line, around 1.1425. A breakout above this could push EURUSD towards the next resistance at 1.1465, marking recent swing highs.

Conclusion and Consideration:
EUR/USD analysis on the H4 timeframe highlights renewed bullish sentiment, reinforced by technical indicators such as Ichimoku Cloud, RSI, and MACD. Given today's significant economic data releases for both the Euro and the USD, traders should remain cautious of heightened volatility. Confirmation above the Ichimoku cloud and the broken ascending trend line resistance will likely strengthen bullish confidence significantly. However, any negative surprise in the consumer sentiment or US economic releases might bring the price back to test the established support levels.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.29.2025

GBPUSD Daily Technical and Fundamental Analysis for 04.30.2025 (https://fxglory.com/2025/04/30/gbpusd-daily-technical-and-fundamental-analysis-for-04-30-2025/)

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD currency pair reflects the exchange rate between the British Pound (GBP) and the US Dollar (USD). GBPUSD today experienced significant movements influenced by fundamental factors. The US dollar weakened to its lowest level of the year, primarily due to shifting expectations around US tariffs, which pressured the currency and led to a rally in GBP futures towards the 1.3 level. Conversely, the British pound demonstrated strength, with GBP/USD on the cusp of testing the 2024 high of 1.3434, as it broke out of the range-bound price action observed at the end of the previous week. This upward momentum in the pound was further supported by bullish sentiment in the market, as traders anticipated favorable economic conditions in the UK. Overall, the interplay between a weakening US dollar and a strengthening British pound contributed to the dynamic movements observed in the GBP/USD pair on this day.

Price Action:
The GBP/USD currency pair reflects the exchange rate between the British Pound (GBP) and the US Dollar (USD). As of April 30, 2025, technical indicators and price action reveal a bullish outlook within a clear flag pattern on the 4-hour chart. The pair is consolidating near the upper boundary of the flag, just below the resistance at approximately 1.3424, indicating potential continuation if this resistance level is breached. The Ichimoku Cloud reinforces the bullish sentiment, with the price trading well above the cloud, suggesting sustained upward momentum. RSI stands at 61.44, indicating the pair remains in bullish territory without being overbought, while the MACD histogram shows a reduction in bullish momentum, hinting at potential short-term consolidation or retracement. Overall, technical signals align with a cautiously bullish scenario, pending a breakout above the current resistance to confirm further upward movement.

Key Technical Indicators:
Ichimoku Cloud: The price is trading notably above the Ichimoku Cloud on the H4 chart, clearly indicating a bullish sentiment and suggesting buyers have dominant control. The cloud itself is ascending and widening, reinforcing the strength of the ongoing bullish momentum. A sustained position above the cloud typically serves as confirmation of upward direction, making it a critical area to watch for potential bullish continuation in GBP/USD.
Relative Strength Index (RSI): The RSI currently stands at 61.44, comfortably above the neutral 50 level but still below the overbought threshold of 70. This reading confirms the bullish momentum without signaling immediate exhaustion, implying that the GBP/USD pair still has potential room to extend gains.
MACD (Moving Average Convergence Divergence): The MACD histogram bars have begun to contract slightly, indicating a mild reduction in bullish momentum. Although the MACD line remains above the signal line, which confirms an overall bullish bias, the narrowing histogram suggests caution in the short term.

Support and Resistance:
Support: Immediate support levels are identified at 1.32700, followed by 1.32300 and 1.32000. These levels represent key zones where buyers may re-enter on price dips, offering potential points of bullish entry or re-entry.
Resistance: Resistance levels stand prominently at 1.34200, with further resistance observed at 1.34500 and 1.35000. A sustained breakout above 1.34200 would reinforce bullish momentum, targeting subsequent resistance levels for potential upward continuation.

Conclusion and Consideration:
The GBPUSD H4 technical analysis reveals sustained bullish momentum, confirmed by the bullish positioning above the Ichimoku Cloud, supportive RSI at 61.44, and MACD remaining bullish but showing signs of short-term consolidation. Immediate support zones at 1.32700, 1.32300, and 1.32000 may provide attractive entry points if the price retraces for a healthy retest before continuing higher. On the upside, clear resistances at 1.34200, 1.34500, and notably at 1.35000 represent critical hurdles; a decisive breakout above these levels would reinforce bullish continuation. However, traders should remain cautious amid today's fundamental drivers, including shifting sentiment related to US tariff policy and positive market expectations for UK economic conditions. Heightened volatility is anticipated, emphasizing the importance of prudent risk management in this GBPUSD H4 forex analysis..

Disclaimer: The analysis provided here is for informational purposes only and should not be considered financial advice. Market conditions can change rapidly, and traders should perform their own research and analysis before making trading decisions. Past performance is not indicative of future results. Always trade responsibly.

FXGlory
04.30.2025

USD/JPY Daily Technical and Fundamental Analysis for 05.01.2025 (https://fxglory.com/2025/05/01/usd-jpy-daily-technical-and-fundamental-analysis-for-05-01-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, the USD-JPY is influenced by several high-impact economic releases and events. The US Dollar (USD) may experience increased volatility due to remarks by US President Donald Trump at the Cuomo Town Hall event, alongside key economic indicators such as Jobless Claims, Manufacturing PMI, and ISM Manufacturing data. Positive readings from these indicators, indicating stronger economic conditions, may support USD strength. On the Japanese Yen (JPY) side, market participants will monitor the Bank of Japan's interest rate statement and Governor's press conference closely. A more hawkish-than-expected stance could strengthen the Yen significantly.

Price Action:
Analyzing the USDJPY H4 chart, we observe a clear price breakout from a downtrend, followed by a successful pullback and retest of the breakout level. Currently, the price has begun forming an ascending trend supported by a bullish trendline, signaling the start of potential bullish momentum. The first key target for price movement upwards is set at the recent high.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR dots are currently positioned below the candles, confirming the bullish momentum in the short term. As long as these dots remain below price action, bullish sentiment will prevail.
EMA21: The 21-period Exponential Moving Average (EMA) currently acts as a dynamic support, with the price trading just above it. This alignment indicates a short-term bullish bias and may guide traders towards buying opportunities as long as price sustains above the EMA21.
MACD: The MACD indicator has shown a bullish crossover, with the MACD line above the signal line and histogram bars moving upwards, indicating strengthening bullish momentum. Continued bullish MACD signals support further upward movement.
Stochastics: The Stochastic oscillator is approaching overbought levels, currently around 71.94, signaling strong buying pressure. While the price may see slight retracements, continued momentum in this region supports ongoing bullish sentiment.

Support and Resistance Levels:
Support: Immediate dynamic support lies at the bullish trendline near 142.30, followed by a stronger static support at the previous breakout area around 141.50.
Resistance: The nearest resistance is seen at the recent swing high around 143.85, followed by psychological resistance at 145.00.

Conclusion and Consideration:
The USD-JPY H4 technical analysis suggests ongoing bullish sentiment, supported by key indicators like Parabolic SAR, EMA21, MACD, and Stochastics. Fundamental events today could create volatility and significant directional movements. Traders should closely monitor USD news releases and BOJ statements for potential shifts in market dynamics. It is prudent to manage risk effectively, considering potential increased volatility.

Disclaimer: The analysis provided for USD/JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDJPY Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.01.2025

AUD/USD Technical and Fundamental Analysis for 05.02.2025 (https://fxglory.com/2025/05/02/aud-usd-technical-and-fundamental-analysis-for-05-02-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The AUD-USD currency pair faces increased volatility due to significant economic news releases for both the US and Australian economies. The US Dollar will be influenced by crucial labor market data, including Non-Farm Payrolls (NFP), the unemployment rate, and labor cost reports. Stronger-than-expected results typically strengthen the USD, impacting AUDUSD negatively. Conversely, Australian Dollar movements hinge on the upcoming retail sales figures and Producer Price Index (PPI) data. Positive Australian retail sales data could bolster AUD strength. Additionally, AUD is exposed to political uncertainty due to imminent parliamentary elections, potentially triggering increased volatility.

Price Action:
AUD USD analysis in the H4 timeframe reveals that price action has recently broken the downtrend line, successfully retesting it, and subsequently transitioned into an ascending trend before entering a sideways consolidation channel. Currently, the price is approaching the bottom boundary of this horizontal channel. Historically, this lower boundary has provided robust support, indicating a crucial pivot point. If the lower channel boundary holds, a bullish continuation towards the upper boundary is highly probable.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR dots currently appear above the price bars, indicating a bearish pressure. This suggests caution, as bears currently exert control, albeit within the context of the broader sideways market.
Bollinger Bands: Bollinger Bands are narrowing, indicative of decreasing volatility and potential preparation for a significant breakout. The price is currently near the lower Bollinger Band, typically signaling potential upward movement upon successful support confirmation.
RSI (Relative Strength Index): The RSI indicator at 47.03 remains neutral and suggests balanced buying and selling pressures. The neutral stance indicates there is ample room for significant movements in either direction depending on forthcoming market triggers.
MACD (Moving Average Convergence Divergence): The MACD line is marginally below the signal line, with a modest bearish histogram. This slight bearish sentiment indicates waning bullish momentum within the current consolidation phase, reinforcing the need for caution until clearer signals emerge.

Support and Resistance:
Support: The key immediate support level is located at 0.6340, coinciding with the lower boundary of the horizontal channel and recent support area.
Resistance: Immediate resistance is at 0.6440, aligned with the upper boundary of the horizontal consolidation channel and recent highs.

Conclusion and Consideration:
The AUD-USD pair on the H4 timeframe is currently consolidating within a well-defined horizontal channel following a bullish breakout from a previous downtrend line. Given the fundamental catalysts, including pivotal USD labor data and AUD retail sales figures, traders should brace for heightened volatility. Technically, a sustained hold above the support line at 0.6340 may trigger a bullish push toward resistance at 0.6440. However, traders should carefully monitor news events and technical confirmations before positioning.

Disclaimer: The analysis provided for AUD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.02.2025

USDCHF H4 Daily Technical and Fundamental Analysis for 05.05.2025 (http://"https://fxglory.com/2025/05/05/usdchf-h4-daily-technical-and-fundamental-analysis-for-05-05-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USDCHF pair today faces volatility due to key economic data releases. USD traders should pay close attention to the Purchasing Managers' Index (PMI) data from S&P Global and ISM. These indices offer critical insights into the economic health of the US services sector. Positive PMI figures above 50.0 generally support a bullish outlook for the USD, increasing investor confidence. Conversely, the CHF is influenced today by Switzerland's latest Consumer Price Index (CPI) figures, a crucial indicator for inflation expectations. Any CPI results significantly deviating from forecasts can induce volatility in CHF, impacting USD CHF price movements.

Price Action:
Analyzing USDCHF price action on the H4 chart, we notice the pair has been slightly bullish recently. However, in the last candles before market close, bearish momentum emerged, pushing prices towards the Ichimoku Cloud's upper band, which currently acts as immediate support. If prices breach and penetrate into the cloud, a bearish continuation is plausible. Meanwhile, the short-term moving average (9 MA, blue) and the longer-term average (17 MA, orange) have converged closely, with the 9 MA slightly dipping towards the 17 MA, signaling a potential bearish crossover and trend reversal if this continues.

Key Technical Indicators:
Ichimoku Cloud: The Ichimoku indicator reveals price currently positioned just above the cloud's upper boundary, suggesting immediate support. Entering the cloud would strengthen bearish sentiment and indicate potential downward momentum.
Moving Averages (MA 9 and MA 17): The 9-period MA is declining slightly toward the 17-period MA, with both lines converging closely. A confirmed bearish crossover could signal a stronger bearish outlook.
Volumes: The last two volume bars are declining and red, signifying weakening bullish participation and strengthening the bearish scenario if volume continues to diminish.
MACD: The MACD histogram shows decreasing bullish momentum, implying weakening buying pressure and an impending bearish divergence. Traders should watch closely for the MACD line crossing below the signal line as a confirmation of bearish momentum.
RSI (Relative Strength Index): RSI is currently around 46.99, indicating a neutral momentum scenario with room for price movement in either direction. It highlights indecision in the current market context, urging caution.

Support and Resistance:
Support: Immediate support lies near the Ichimoku Cloud upper band around 0.8230; a significant break below could extend losses towards the psychological level of 0.8200.
Resistance: Key resistance is clearly identified at the recent high near 0.8336, serving as a barrier to bullish attempts.

Conclusion and Consideration:
The USD/CHF H4 chart analysis suggests a cautious bearish bias due to the weakening bullish momentum evident in key technical indicators like MACD and MA convergence. Traders should closely monitor today's crucial economic releases for USD and CHF, as outcomes will significantly influence the USD-CHF pair's volatility. A breach of the immediate Ichimoku support could intensify bearish sentiments. Conversely, positive US data could reignite bullish momentum.

Disclaimer: The analysis provided for USD/CHF is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCHF Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.05.2025

EUR/USD H4 Technical and Fundamental Analysis for 05.06.2025 (http://"https://fxglory.com/2025/05/06/eur-usd-h4-technical-and-fundamental-analysis-for-05-06-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
EURUSD is influenced today by significant economic releases from both sides of the Atlantic. For the USD, traders are closely watching the International Trade Balance, Consumer Confidence (RCM/TIPP), and Treasury Bond Auction results. Positive outcomes from these reports, particularly higher exports or stronger consumer sentiment, could strengthen the USD. For EUR, key releases include Industrial Output, Jobless Claims, and several important PMI reports from S&P Global, providing insight into Eurozone economic health. Stronger-than-expected figures can bolster EUR demand, leading to bullish movements.

Price Action:
The EUR-USD pair is currently in a sideways channel on the H4 timeframe. After a notable bearish reaction from the broken ascending trend lines, the price recently bounced off the lower boundary of the channel, suggesting a potential move upward towards the Ichimoku cloud (Kumo). However, with the price now below previously broken uptrend lines, signs of a bearish trend initiation are prominent.

Key Technical Indicators:
Ichimoku Cloud (Kumo): The EUR USD price is beneath the Ichimoku cloud, confirming bearish pressure in the medium term. The cloud acts as a dynamic resistance zone, and a test of this area could either reinforce bearish sentiment or signal a possible bullish reversal upon a breakout above.
RSI (Relative Strength Index): The RSI indicator is currently at 46.84, indicating neutral market conditions with a slight bearish bias. The RSI's position suggests room for price movement in either direction without being overextended.
Stochastic Oscillator: The Stochastic indicator at 21.46 and 37.54 suggests oversold conditions, indicating potential short-term bullish momentum as price reacts upward from oversold levels. Traders should remain cautious, however, as momentum could quickly shift if resistance at the Ichimoku cloud holds.

Support and Resistance:
Support: Immediate support is clearly established at 1.12940, the lower boundary of the current sideways channel.
Resistance: The closest resistance is at 1.14000, coinciding with the Ichimoku cloud lower boundary and previous horizontal resistance levels.

Conclusion and Consideration:
Based on technical indicators and price action analysis for EURUSD H4, the market exhibits bearish sentiment with potential short-term bullish corrections within the sideways channel. The upcoming economic releases from both USD and EUR regions could introduce volatility, necessitating careful monitoring of these fundamental events. Traders should watch closely for a clear break above the Ichimoku cloud or below the current channel support to determine the next directional trend.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.06.2025

USD/CHF H4 Technical and Fundamental Analysis for 05.07.2025 (https://fxglory.com/2025/05/07/usd-chf-h4-technical-and-fundamental-analysis-for-05-07-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
USDCHF is in focus today as markets react to key economic developments from both the U.S. and New Zealand. For the USD, attention centers on the Federal Reserve’s policy announcement, with the Federal Funds Rate expected to remain at 4.50%. However, the real drivers will be the FOMC Statement and Press Conference, where any hints of future rate hikes or economic concerns could spark volatility. Additional U.S. data, including a smaller-than-expected draw in crude oil inventories and a sharp rebound in consumer credit to $9.8B, may also influence dollar sentiment. On the NZD side, labor market data showed modest improvement with a 0.1% employment gain and steady unemployment at 5.1%, while wage growth came in softer than expected. The RBNZ Financial Stability Report and Governor Hawkesby’s speech may further shape the NZD outlook. Together, these events create a potentially volatile environment for USDCHF, with traders watching for confirmation of bullish momentum or fresh signals from monetary policy updates.

Price Action:
The USDCHF pair on the H4 timeframe has recently broken out of its bearish structure, confirmed by a strong bullish engulfing candle. The series of lower wicks beneath recent candles signals solid buying pressure and underlying support. This move comes after a period of sideways consolidation below the 200-period moving average, suggesting that the market is gaining bullish momentum. If the price manages to break and hold above the key resistance level at 0.83500, it could trigger a strong upward wave, shifting the overall market sentiment toward a more sustained bullish trend.

Key Technical Indicators:
100-period Moving Average (MA100): The USDCHF price is currently trading below the 100-period moving average (orange line), indicating that the broader trend remains bearish. This moving average is acting as dynamic resistance, capping upward price movements. A decisive breakout above this level would be a key signal for potential trend reversal or the beginning of sustained bullish momentum.
Volume: Recent volume activity shows a noticeable spike alongside the latest strong bullish candle, suggesting increased market participation and conviction behind the breakout attempt. This rise in volume adds weight to the bullish breakout scenario, especially if followed by further gains above resistance levels.

Support and Resistance:
Support: Immediate support is established around the 0.82100 level, where multiple candles have shown lower wicks, signaling strong buying interest. A secondary support level is found at approximately 0.81500, marking a previous swing low and serving as a key threshold for potential bearish continuation if broken.
Resistance: The nearest resistance lies near 0.82850, aligned with the 100-period moving average, which continues to act as a dynamic ceiling. A clear break above this could lead the price toward the next key resistance zone around 0.83500.

Conclusion and Consideration:
Overall, USDCHF is displaying early signs of a potential bullish reversal, supported by a breakout from its recent bearish structure, increased buying volume, and consistent price support near the 0.82100 level. While the pair remains below the 100-period moving average, the strong bullish candle and market reaction suggest growing momentum. A confirmed break above the 0.82850 resistance—particularly if driven by broader USD strength following U.S. economic events—could pave the way toward the 0.83500 level and signal a shift in market sentiment. Traders should remain attentive to both technical signals and upcoming fundamental developments, especially from the Federal Reserve, which may serve as key catalysts for the next major move.

Disclaimer: The analysis provided for USD/CHF is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCHF Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.07.2025

GBP/USD H4 Technical and Fundamental Analysis for 05.08.2025 (http://"https://fxglory.com/2025/05/08/gbp-usd-h4-technical-and-fundamental-analysis-for-05-08-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBPUSD pair today is impacted by several key economic releases. For the GBP, significant data such as the RICS House Price Balance and HBOS House Price Index could lead to notable volatility, as higher-than-expected readings generally strengthen the Pound. Moreover, the recent Bank of England Monetary Policy Report, Monetary Policy Summary, and Interest Rate decision further shape traders' expectations about future monetary policy. On the USD side, upcoming releases such as Initial Jobless Claims and Wholesale Inventories can impact the USD valuation; a lower number of jobless claims would typically bolster the US dollar, reflecting a healthier labor market.

Price Action:
Analyzing the GBP-USD H4 chart, the price has been consolidating sideways within a clear support zone. Currently, a new green bullish candle indicates a reaction from the support zone around 1.3257. If the upper boundary of this zone fails to sustain price, a move downward toward the previously broken resistance line around 1.3220 could provide stronger support. However, given the distance from the existing upward trend line, the overall bullish trend remains intact.

Key Technical Indicators:
Parabolic SAR: Currently above the candles, indicating short-term bearish momentum. A shift below the candles would confirm a renewed bullish stance.
RSI (Relative Strength Index): The RSI reading is at 45.17, signaling neutral momentum. There's room for price movements in both directions, without imminent overbought or oversold conditions.
MACD (Moving Average Convergence Divergence): The MACD histogram is slightly negative but approaching the zero line, indicating weakening bearish momentum and a potential bullish crossover soon, suggesting buyers may regain strength.
Stochastic Oscillator: Stochastics at 20.58 (main line) and 32.13 (signal line) indicate oversold conditions, suggesting a potential bullish reversal may occur soon.

Support and Resistance:
Support: Immediate support lies at 1.3257, with a stronger support zone at 1.3220, coinciding with previous resistance turned support.
Resistance: Immediate resistance is near the recent swing high at 1.3385, providing the first significant barrier for bullish continuation.

Conclusion and Consideration:
The GBP/USD technical and fundamental daily chart analysis indicates the pair is consolidating within a robust support area. The potential for a bullish reversal from current support is bolstered by oversold Stochastics and a weakening bearish MACD signal. However, traders must closely monitor today's GBP and USD economic releases for increased volatility and directional clarity. Caution is advised due to the mixed signals from technical indicators, highlighting the importance of waiting for confirmed price action signals.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.08.2025

USD/CAD Technical and Fundamental Analysis for 05.09.2025 (https://fxglory.com/2025/05/09/usd-cad-technical-and-fundamental-analysis-for-05-09-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD-CAD currency pair today is likely to experience significant volatility due to key economic news releases from both Canada and the United States. Canadian employment data, specifically the change in employment figures and the unemployment rate, is expected to strongly influence CAD strength. Better-than-expected job creation or a decline in the unemployment rate could strengthen the CAD against the USD. Conversely, several influential members of the US Federal Reserve, including Thomas Barkin, John Williams, Austan Goolsbee, Christopher Waller, Michael Barr, and Adriana Kugler, will deliver speeches today. Their commentary on future monetary policy directions and interest rates could cause fluctuations in the USD, especially if their tones are notably hawkish.

Price Action:
The USDCAD pair on the H4 chart has broken through the horizontal resistance at approximately 1.3882, potentially turning this level into new support upon any retest. The recent bullish candles show clear upward momentum; however, the price is currently extended significantly towards the upper Bollinger Band, suggesting a potential corrective pullback soon. Importantly, the break of the descending trend line indicates a potential shift from bearish to bullish sentiment, with recent bullish divergence observed on RSI further reinforcing this view.

Key Technical Indicators:
Bollinger Bands: The price has touched and exceeded the upper Bollinger Band, indicating it may be overextended and due for a correction or sideways consolidation to return within a normal trading range.
RSI: Currently, the RSI shows bullish momentum but is nearing the overbought territory. Recent bullish divergence at previous lows suggests the bullish trend might still have underlying strength, though traders should anticipate corrective movements.
Stochastic Oscillator: The Stochastic oscillator is deeply in overbought territory (above 90), signaling a possible short-term reversal or consolidation ahead. Caution is advised, as the price could initiate a short-term corrective phase.
Volume: Volume analysis shows relatively moderate to high trading activity during the breakout, confirming strong market participation. However, watch for volume spikes during potential corrective moves for clues about strength and continuation.

Support and Resistance:
Support: The newly established support at 1.3882 will be crucial in validating the breakout. Another significant support lies around 1.3800.
Resistance: Immediate resistance is at 1.3920 (current recent high), with the next major resistance located around the psychological level of 1.4000.

Conclusion and Consideration:
The USDCAD pair on the H4 timeframe displays bullish tendencies, strongly supported by price action and technical indicators like the Bollinger Bands, RSI, and Stochastic. However, due to the substantial bullish extension, traders should anticipate possible corrective moves toward support levels before resuming upward momentum. Today's significant economic releases from Canada and influential speeches from US Federal Reserve members may lead to increased volatility; hence, traders should exercise caution and consider risk management strategies closely.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.09.2025

BTC/USD Technical and Fundamental Analysis for 05.13.2025 (https://fxglory.com/2025/05/13/btc-usd-technical-and-fundamental-analysis-for-05-13-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, BTCUSD's price action is closely influenced by upcoming economic releases from the United States, including the NFIB Small Business Index and Core CPI data. A higher-than-expected NFIB Small Business Index could strengthen the USD, placing downward pressure on BTCUSD. Meanwhile, market participants keenly await the Consumer Price Index (CPI) data, given its critical impact on inflation expectations and potential Federal Reserve actions. A higher CPI reading may boost USD strength, potentially pressuring BTC downward.

Price Action:
BTC-USD analysis on the H4 timeframe continues to display an uptrend, currently undergoing a correction phase. Recently, BTCUSD reached a strong support zone evidenced by a confluence of the horizontal support level and ascending trend line. The formation of a doji candle at this support zone indicates market indecision, highlighting the critical nature of this technical level. Traders should closely monitor subsequent candles to confirm price direction.

Key Technical Indicators:
Volume: Volume indicators suggest moderate trading activity. While volume decreased slightly during the latest corrective candles, a spike in buying volume near current support would significantly reinforce bullish sentiment, confirming potential reversal points.
Parabolic SAR: Currently, the Parabolic SAR dots are positioned above the price action, suggesting short-term bearish pressure. However, their proximity to price action hints that a reversal may be imminent should the price stabilize and rise from the support zone.
MFI (Money Flow Index): The MFI currently stands at 55.77, indicating balanced market participation with room for further buying or selling pressure. It suggests neither overbought nor oversold conditions, supporting the potential for price stabilization and subsequent bullish momentum from the current support zone.
MACD (Moving Average Convergence Divergence): The MACD histogram shows a diminishing bullish momentum, indicating a weakening uptrend in the short term. Traders should watch for a bullish crossover of the MACD and signal line to validate potential upward continuation.

Support and Resistance:
Support: Immediate support is identified at $10142.09–$10279.95, strengthened by a historical consolidation area and the ascending trend line.
Resistance: The immediate resistance levels to watch are around the recent high near $105786.14, with further resistance observed at historical peaks above this area.

Conclusion and Consideration:
BTCUSD on the H4 chart currently shows a corrective phase within an overall bullish trend, supported by key indicators like Volume, Parabolic SAR, MFI, and MACD. Today's significant economic data releases from the U.S. pose potential volatility, likely affecting BTC USD movements sharply. Traders should cautiously observe the critical support zone at current levels for potential reversal signals, while maintaining awareness of U.S. economic indicators which could heavily influence the BTCUSD pair.

Disclaimer: The analysis provided for BTC/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on BTCUSD Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.13.2025

GBP/AUD H4 Technical and Fundamental Analysis for 05.14.2025 (https://fxglory.com/2025/05/14/gbp-aud-h4-technical-and-fundamental-analysis-for-05-14-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
GBPAUD is in focus today as markets react to significant economic releases from both the UK and Australia. From the GBP perspective, preliminary GDP figures came in stronger than expected at 0.6% quarter-on-quarter, outperforming forecasts of 0.1%. Manufacturing production and industrial output, however, missed expectations, declining by 0.8% and 0.6%, respectively. Despite a slightly wider goods trade deficit of -£19.7B, improvements in construction output and services index provided mixed signals for the UK economy. On the Australian side, employment data showed robust job growth, adding 20.9K positions against an anticipated 32.2K, with the unemployment rate holding steady at 4.1%. Traders will closely monitor how these mixed data points influence GBPAUD's direction, watching for potential shifts in sentiment or confirmation of the pair’s near-term momentum.

Price Action:
The GBPAUD pair on the H4 timeframe has recently shifted to a bearish structure, evidenced by the clear break and sustained movement below the 200-period moving average. The recent series of strong bearish candles highlights increased selling pressure, suggesting market sentiment has turned negative. This downward move follows an extended phase of consolidation around the moving average, indicating that sellers have gained decisive control. If the price continues to sustain this bearish momentum and clearly breaks below recent support levels, it could lead to further declines and solidify the bearish trend.

Key Technical Indicators:
100-period Moving Average (MA100): The GBPAUD price is currently trading below the 100-period moving average (blue line), confirming that the overall market sentiment remains bearish. This moving average has acted consistently as dynamic resistance, suppressing bullish attempts and reinforcing downward momentum. A sustained break above this moving average would signal a weakening of bearish control and potentially mark the beginning of a bullish reversal.
MACD Indicator: The MACD histogram remains below the zero line, signaling ongoing bearish momentum. However, the histogram bars have begun to shorten, indicating a possible weakening in bearish strength and hinting at the potential for a bullish crossover. Traders should closely watch the MACD line for any bullish crossover above the signal line, as this could further validate a potential reversal scenario.

Support and Resistance:
Support: The nearest resistance lies near 2.06880, aligned with the 100-period moving average, which continues to act as a dynamic ceiling. A clear break above this could lead the price toward the next key resistance zone around 2.07600.
Resistance: The nearest resistance lies near 2.06880, aligned with the 100-period moving average, which continues to act as a dynamic ceiling. A clear break above this could lead the price toward the next key resistance zone around 2.07600.

Conclusion and Consideration:
In conclusion, the GBPAUD pair is currently facing bearish pressure both technically and fundamentally. Despite better-than-expected UK GDP figures, mixed economic signals and robust employment data from Australia create uncertainty regarding future direction. Technically, price action confirms increased selling momentum with key moving averages acting as resistance, and MACD indicating potential for bearish momentum to weaken. Traders should closely monitor the pair’s reaction near critical support at 2.05650 and resistance around 2.06880 for clear directional cues, which could either confirm a continuation of the bearish trend or signal a possible bullish reversal.

Disclaimer: The analysis provided for GBP/AUD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPAUD Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.14.2025

GBP/USD Technical and Fundamental Analysis for 05.15.2025 (https://fxglory.com/2025/05/15/gbp-usd-technical-and-fundamental-analysis-for-05-15-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBPUSD currency pair will experience heightened volatility today due to significant economic events from both the UK and the US. Traders will closely monitor the UK's GDP release, Manufacturing Production, and Trade Balance figures, which will reflect the overall health of the UK economy and may influence GBP strength. For the US, numerous crucial indicators such as PPI, Retail Sales, Initial Jobless Claims, and speeches by Fed officials Mary Daly and Jerome Powell could provide significant insights into future US monetary policy. More hawkish tones from these speeches or stronger-than-expected economic data would likely boost the USD, potentially placing downward pressure on the GBPUSD pair.

Price Action:
The GBP-USD pair on the H4 chart recently pulled back from the upper Bollinger Band, retreating to test the middle Bollinger Band. This mid-band area acts as critical immediate support, and a failure here might see the pair challenging the ascending trendline near the 1.31735 level. Should this key trendline fail to hold, a deeper correction towards the psychological support at 1.30038 might be seen. Conversely, bullish recovery above the mid-band may drive the price to retest the major resistance at 1.34331.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands for GBP/USD are currently converging, indicating reduced volatility and a potential upcoming breakout. The price reacted from the upper band and is testing support at the middle band. A decisive break below the middle band could signal increased bearish momentum.
Parabolic SAR: The Parabolic SAR dots have recently switched below the price, signaling a potential bullish reversal on this timeframe. However, traders should remain cautious and confirm this bullish signal with price action.
RSI (Relative Strength Index): A divergence between price action and RSI is evident, with RSI making lower highs while the price recently made higher highs, suggesting weakening bullish momentum and potential bearish reversal ahead.
Stochastic Oscillator: The stochastic oscillator is approaching oversold conditions, currently at 9.11 and 29.76. This suggests that a short-term bounce might occur soon if the price finds support, potentially limiting immediate downside risk.

Support and Resistance:
Support: Immediate support is located at 1.31735, aligning with the ascending trendline and previous price action area. The next significant support lies at the psychological level of 1.30038, historically significant for price reversals.
Resistance: Immediate resistance stands at the recent swing high at 1.34331, representing a critical barrier for bulls to overcome for continued upward momentum.

Conclusion and Consideration:
The GBP-USD H4 technical and fundamental daily chart analysis reveals a critical juncture for the pair. Current indicators suggest mixed signals, indicating caution in both directions. Traders should pay close attention to today's economic events and news releases, as significant volatility is anticipated. Proper risk management and close monitoring of price action around key levels and economic announcements are strongly recommended.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.15.2025

NZDUSD Daily Technical and Fundamental Analysis for 05.16.2025 (http://"https://fxglory.com/2025/05/16/nzdusd-daily-technical-and-fundamental-analysis-for-05-16-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's fundamental outlook for NZDUSD is marked by critical economic data from both New Zealand and the United States. On the USD side, traders will closely monitor the release of Residential Building Permits and Housing Starts, indicators that reflect the health of the U.S. housing market. Additionally, the Import Price Index will provide early inflation insights, while the University of Michigan’s Consumer Sentiment and Inflation Expectations data may affect market sentiment toward the USD. Moreover, Richmond Fed President Thomas Barkin’s speech will be scrutinized for insights into future Fed monetary policy. In New Zealand, traders will pay attention to BusinessNZ’s Performance of Manufacturing Index (PMI), which could indicate economic expansion or contraction and influence the NZD’s strength.

Price Action:
Analyzing the NZD/USD pair on the H4 timeframe indicates a clear bearish trend through recent price action. The market has consistently formed lower highs and lower lows, confirming ongoing selling pressure. The most recent candles display bearish momentum, with price action struggling to break above moving average resistances, and continuously testing support near recent lows. The candlestick patterns suggest the bears remain in control, albeit with some hesitance approaching the immediate support area.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR indicator distinctly illustrates the bearish sentiment as its last 8 dots have consistently been placed above the price candles. This alignment signals continuing downward pressure and indicates that sellers are maintaining their dominance, suggesting further bearish continuation is likely unless a bullish reversal is clearly established.
Moving Averages (MA 9 & MA 17): The moving averages confirm the bearish scenario; the short-term MA (9, blue line) recently crossed below the longer-term MA (17, orange line), a classic bearish crossover indicating continued selling pressure. As the price remains below both MAs, bearish momentum remains strong and intact.
Volumes: The Volumes indicator is showing decreased buying activity with slightly increasing volume on bearish candles, signifying stronger selling pressure at current price levels. This suggests that bearish sentiment persists, with market participants leaning towards further downside movements.
OsMA (Moving Average of Oscillator): The OsMA indicator currently shows bars below the zero line and increasing in negative magnitude, reflecting growing bearish momentum. Such negative divergence reinforces the potential for further downward movement, indicating sellers are likely to maintain control in the short term.
RSI (Relative Strength Index): The RSI is currently at 39.41, trending downward but not yet in oversold territory. This signifies that while the bearish sentiment is clearly strong, the pair still has room to continue falling before becoming oversold, which would signal caution for potential reversals or consolidation.

Support and Resistance:
Support: Immediate support is identified at the 0.58585-0.58710 zone, a critical area where recent lows have formed.
Resistance: The nearest resistance levels are at 0.59350 and subsequently at 0.59750, where previous swing highs and consolidation phases occurred.

Conclusion and Consideration:
The NZD USD H4 chart analysis continues to reflect a bearish trend, supported strongly by the Parabolic SAR, moving averages crossover, and negative OsMA. Traders should consider short positions, particularly if the immediate support at 0.58585 is breached with conviction. However, caution is advised ahead of significant fundamental news today from both NZD and USD, as these events could trigger increased volatility and potential reversals or corrective moves.

Disclaimer: The analysis provided for USD/NZD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDNZD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.16.2025

USD/CAD H4 Technical and Fundamental Analysis for 05.20.2025 (http://"https://fxglory.com/2025/05/20/usd-cad-h4-technical-and-fundamental-analysis-for-05-20-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, market participants are closely monitoring the Canadian CPI (Consumer Price Index) data release, a critical inflation indicator expected to influence the Canadian Dollar significantly. Higher-than-forecast CPI figures usually strengthen the CAD, reflecting potential rate hikes by the Bank of Canada aimed at combating inflation. Additionally, several Federal Reserve members, including Barkin, Bostic, and Musalem, are scheduled to speak. Hawkish remarks from these members could potentially bolster the USD by signaling tighter monetary policy ahead.

Price Action:
The USD-CAD currency pair on the H4 chart has recently initiated an upward trend after forming a noticeable bottom. The pair is approaching a critical resistance zone, and given its recent momentum, it may encounter difficulty surpassing this level on its initial attempt. Notably, a bullish divergence is observed between the price and RSI lows, suggesting underlying bullish strength. The current price rests on a supportive ascending trend line, reinforcing potential continuation of the upward movement.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR indicator currently shows bullish momentum, with dots positioned below the price bars, affirming continued buying interest and upward potential.
RSI (Relative Strength Index): The RSI value stands at 51.53, indicating a neutral market condition. However, a visible bullish divergence between price lows and RSI lows highlights increasing upward momentum, which supports the bullish scenario.
MACD (Moving Average Convergence Divergence): The MACD histogram reflects decreasing bullish momentum, suggesting caution. Although still above zero, the potential for a bearish crossover should be closely monitored, signaling a possible short-term reversal or consolidation.
Williams %R: The Williams %R indicator is at -46.56, indicating balanced market conditions without clear overbought or oversold signals. However, it confirms the upward trajectory with room for further price advancement before reaching an overbought scenario.

Support and Resistance:
Support: Immediate support is located at 1.38723, aligning with the current ascending support trend line and recent price consolidation.
Resistance: The nearest resistance level is at 1.40250-1.41000, coinciding with historical highs and significant selling interest.

Conclusion and Consideration:
The USDCAD H4 analysis suggests an ongoing bullish bias, supported by technical indicators and recent price action behavior. While immediate resistance could temporarily hinder the bullish movement, underlying momentum indicators, notably the RSI divergence, favor an eventual upward breakout. Traders should cautiously watch today's Canadian CPI data and Fed members' speeches for significant volatility that could rapidly shift market sentiment and affect the USD/CAD price action.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.20.2025

EUR/USD H4 Technical and Fundamental Analysis for 05.21.2025 (https://fxglory.com/2025/05/21/eur-usd-h4-technical-and-fundamental-analysis-for-05-21-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, attention in the currency markets is turning toward several key developments that could influence the EUR/USD pair. The European Central Bank is set to release its Financial Stability Review, a biannual report that provides insights into potential risks to the euro area’s financial system. Any signs of increased vulnerabilities or a more cautious tone could weigh on the euro. Additionally, the German 10-year bond auction, with a yield of 2.47% and a bid-to-cover ratio of 1.4, offers further clues about investor confidence and demand for euro-denominated debt. On the U.S. side, crude oil inventory data is due, with a sharp drawdown of -0.9 million barrels expected compared to the previous build of 3.5 million. A larger-than-anticipated decline could support the U.S. dollar by reflecting stronger demand or supply disruptions. Furthermore, remarks from FOMC members Barkin and Bowman are scheduled later in the day. Should their comments lean hawkish, market participants may anticipate continued policy tightening, potentially boosting the USD against the euro.

Price Action:
The EUR-USD currency pair on the H4 chart has recently initiated an upward trend after forming a noticeable bottom. The pair is approaching a critical resistance zone, and given its recent momentum, it may encounter difficulty surpassing this level on its initial attempt. Notably, a bullish divergence is observed between the price and RSI lows, suggesting underlying bullish strength. The current price rests on a supportive ascending trend line, reinforcing potential continuation of the upward movement.

Key Technical Indicators:
RSI (Relative Strength Index): The RSI currently reads 62.47, indicating strengthening bullish momentum as it approaches the overbought zone. This upward movement reflects increasing buying interest, aligning with the recent breakout above the descending channel. The sustained rise in RSI suggests that bulls are gaining control, and further upside could be expected if momentum continues.
MACD (Moving Average Convergence Divergence): The MACD shows a bullish crossover, with the MACD line moving above the signal line and histogram bars turning positive. This crossover confirms a shift in momentum from bearish to bullish, reinforcing the potential for continued upward price action following the breakout.

Support and Resistance:
Support: Immediate support is seen near 1.12250, aligning closely with the upper boundary of the recently broken descending channel. This level now acts as a potential retest zone, offering a key area where bulls may seek to defend the breakout and confirm a trend reversal.
Resistance: The nearest resistance is located at 1.13125, which marks a critical horizontal level and coincides with a previous swing high. A decisive break above this area would likely signal stronger bullish control and could open the path for further upside momentum.

Conclusion and Consideration:
In summary, the EUR/USD pair is currently at a pivotal juncture, with both fundamental and technical factors aligning to suggest a potential shift in market direction. From a fundamental perspective, upcoming eurozone and U.S. events—such as the ECB’s Financial Stability Review and comments from FOMC members—could inject volatility and guide near-term sentiment. On the technical front, the pair’s breakout above a long-standing descending channel, supported by bullish signals from both RSI and MACD indicators, points to growing upward momentum. The immediate support at 1.12250 and the key resistance at 1.13125 will be critical levels to watch. A sustained move above resistance could validate the bullish reversal and set the stage for further gains, while a failure to hold above support may call the breakout into question.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.21.2025

BTCUSD Daily Technical and Fundamental Analysis for 05.22.2025 (https://fxglory.com/2025/05/22/btcusd-daily-technical-and-fundamental-analysis-for-05-22-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The BTCUSD pair reached an impressive new all-time high above $109,800 on Wednesday, surpassing its previous ATH of $109,588 set earlier this year on January 20. The bullish momentum remains intact with Bitcoin now targeting the psychological level of $120,000. Today's economic calendar is dominated by the G7 meetings in Alberta, Canada, where finance ministers and central bankers will discuss crucial topics such as global economic outlook, AI innovations, and geopolitical tensions in Ukraine. Additionally, market participants will closely monitor the U.S. unemployment claims and S&P Global PMI reports for fresh insights into the health of the U.S. economy, which could indirectly influence BTC/USD price dynamics through USD valuation.

Price Action:
BTCUSD analysis on the H4 timeframe shows a bullish trend continuation after the MA9 (blue short-term moving average) crossed above the MA17 (orange long-term moving average), confirming bullish momentum. Price action indicates strong buyer presence, consistently forming higher highs and higher lows. The latest candles maintain bullish sentiment, reinforcing expectations of further upside potential as Bitcoin moves towards the next target near $120,000.

Key Technical Indicators:
Moving Averages (MA9 & MA17): The short-term MA9 crossing above the longer-term MA17 signals strong bullish momentum. The Bitcoin price is comfortably above both moving averages, suggesting ongoing bullish sentiment with potential for continued upward movement.
Parabolic SAR: The indicator shows bullish sentiment with dots positioned below the BTC price candles, supporting the ongoing upward trend and providing potential trailing stops for bullish positions.
Volumes: Trading volumes have notably increased, especially during upward movements, indicating strong market participation supporting the bullish scenario. Consistent buying volume reinforces bullish conviction.
Relative Strength Index (RSI): Currently, RSI stands at 63.92, below the overbought threshold of 70, indicating further room for upward momentum before reaching overextended conditions. RSI thus supports continued bullish sentiment.

Support and Resistance:
Support: Immediate support is located at the 61.8% Fibonacci retracement level around $103,263, coinciding with recent price consolidation areas.
Resistance: The nearest significant resistance is the current ATH at approximately $109,800, followed by psychological resistance at $120,000, which will be the next key bullish target.

Conclusion and Consideration:
BTCUSD remains strongly bullish on the H4 timeframe, supported by positive MA crossover, bullish Parabolic SAR positioning, rising volumes, and favorable RSI readings. However, traders should remain cautious and monitor today's key economic indicators from the U.S. and G7 developments, as these events could induce short-term volatility in BTC USD price action. The next significant bullish objective remains the $120,000 mark, pending sustained buying volume and supportive fundamental conditions.

Disclaimer: The analysis provided for BTC/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on BTCUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.22.2025

GBP/USD Daily Technical and Fundamental Analysis for 05.23.2025 (https://fxglory.com/2025/05/23/gbp-usd-daily-technical-and-fundamental-analysis-for-05-23-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's economic calendar for GBPUSD highlights several important news events that could significantly impact the pair's volatility. From the UK, traders are watching the NIQ consumer confidence data and the Office for National Statistics' retail sales figures, both crucial indicators of economic health and consumer spending trends. Stronger-than-expected data could provide bullish momentum for GBP. Conversely, the USD is influenced by several speeches from Federal Reserve officials, including President Alberto Musalem, Jeffrey Schmid, and Governor Lisa Cook. Their remarks on monetary policy and economic stability could notably affect USD strength, especially if they adopt a more hawkish tone.

Price Action:
Analyzing GBP-USD in the H4 timeframe shows recent price action forming an ascending channel. After successfully pulling back to a previously broken resistance line (now acting as support), GBP/USD price is currently approaching a critical horizontal resistance level. The price action is slightly consolidative, indicating indecision as the price interacts with this level. Traders should watch closely for a clear break above resistance or a potential breakdown below channel support to confirm future price direction.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR dots remain below the price candles, supporting a bullish bias. This suggests that, for now, buyers still have control, though a reversal could be imminent if dots shift above the price.
Bollinger Bands: Bollinger Bands are moderately wide, signaling moderate volatility. The price is trading near the upper band, indicating bullish momentum, but also cautioning a potential reversal or consolidation due to possible overextension.
RSI (Relative Strength Index): The RSI indicator currently stands at around 59, which indicates bullish sentiment but still has space to advance before reaching overbought territory. This suggests bullish momentum might continue in the short term.
MACD (Moving Average Convergence Divergence): The MACD histogram displays slightly weakening bullish momentum, with decreasing bar sizes. Although the MACD line remains above the signal line, traders should watch for a potential bearish crossover signaling weakening buying pressure.

Support and Resistance:
Support: The immediate key support is at 1.3185, coinciding with the lower boundary of the ascending channel and recent price action pullback.
Resistance: Major resistance is evident at the horizontal level of 1.3465, closely aligned with the channel's upper boundary. A break above this resistance could trigger a strong bullish continuation.

Conclusion and Consideration:
GBPUSD on the H4 timeframe maintains a cautiously bullish outlook. While price action is positive, caution is advised given the resistance overhead and weakening MACD momentum. Upcoming fundamental news from both the UK and US could provide strong catalysts for GBP-USD’s next significant move. Traders should stay alert for the market reactions to economic releases and central bank speeches, which could alter the current technical landscape considerably.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.23.2025

ETH/USD Daily Technical and Fundamental Analysis for 05.26.2025 (https://fxglory.com/2025/05/26/eth-usd-daily-technical-and-fundamental-analysis-for-05-26-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, the ETHUSD pair could experience lower liquidity and irregular volatility due to the US banks being closed for Memorial Day. Historically, when banks are closed, the market becomes less liquid, and speculative activities tend to increase, causing potential abnormal volatility levels. Ethereum’s fundamental outlook remains dependent on general crypto market sentiment and developments, including regulatory announcements and technological updates on the Ethereum blockchain.

Price Action:
ETH-USD price action on the H4 timeframe recently broke a significant downtrend line, signaling a transition from bearish to bullish sentiment. After this breakout, ETHUSD exhibited a bullish rally followed by a correction phase, currently testing the Ichimoku cloud region. The pullback towards a previously broken level indicates potential support around that area, setting the stage for another bullish leg if buyers step back in.

Key Technical Indicators:
Ichimoku Cloud: ETH USD is testing the upper boundary of the Ichimoku Cloud, indicating a critical juncture. A clear rebound off this area would validate bullish strength, while breaking deeper into the cloud could hint at bearish momentum returning.
Parabolic SAR: The indicator has recently shifted above the candlesticks, suggesting current short-term bearish pressure. Traders should await a reversal below the candlesticks to confirm a resumption of bullish momentum.
RSI (Relative Strength Index): The RSI is currently at 43.73, highlighting neutral market conditions with no immediate indication of overbought or oversold status. This provides room for price movement in either direction.
Stochastic Oscillator: The Stochastic is in oversold territory (18.20, 22.64), suggesting potential upward movement soon. Traders should watch for a bullish crossover as a confirmation signal for entering long positions.

Support and Resistance:
Support: Immediate support is at 2420, aligning with the Ichimoku cloud’s upper boundary and previous structural support. The next significant support is around 2260.
Resistance: Immediate resistance is located at 2655, with a stronger resistance level noted at the recent high of 2734.

Conclusion and Consideration:
ETH/USD H4 analysis indicates the potential continuation of bullish momentum following the recent correction to the previously broken resistance (now support). However, traders must monitor price behavior closely within the Ichimoku cloud. Given today's US bank holiday, irregular volatility and low liquidity could affect market conditions, making it essential to maintain tight risk management.

Disclaimer: The analysis provided for ETH/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on ETHUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.26.2025

USD/JPY Daily Technical and Fundamental Analysis for 05.27.2025 (https://fxglory.com/2025/05/27/usd-jpy-daily-technical-and-fundamental-analysis-for-05-27-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's fundamental landscape is marked by crucial events impacting both the USD and JPY. On the JPY front, traders are closely monitoring the Services Producer Price Index (SPPI) and the speech by BOJ Governor Kazuo Ueda. Any unexpected hawkishness in Governor Ueda's remarks could strengthen the Yen significantly. For USD, attention centers around Minneapolis Fed President Neel Kashkari's participation in a monetary policy panel and the latest figures on Durable Goods Orders. Hawkish signals or positive economic data from the U.S. are likely to support the Dollar.

Price Action:
The USD-JPY pair on the H4 timeframe currently demonstrates a critical retest of the prevailing downtrend line, following a successful bounce from a clear support zone. The current price action suggests a pivotal moment; if the price convincingly breaks the downtrend line, subsequent bullish momentum could drive the price toward previously identified resistance zones marked clearly in red above the current level.

Key Technical Indicators:
Parabolic SAR: The indicator currently signals a bearish market sentiment, positioned above the recent candles. However, the approaching retest and potential breakout could signal a reversal of sentiment if the Parabolic SAR dots shift beneath the price candles.
Bollinger Bands: Bollinger Bands are moderately expanded, indicating sustained volatility. The price is interacting closely with the lower band, which may signal potential oversold conditions and an impending bullish reversal if the trend line is successfully breached.
MACD: The MACD histogram shows consistent negative bars, signaling ongoing bearish momentum. However, the narrowing bars indicate declining selling pressure, suggesting potential weakening bearish sentiment and an upcoming momentum shift toward bullish territory upon a successful breakout.
%R (Williams Percent Range): The %R indicator is deeply oversold at approximately -78.80. This significantly oversold condition suggests a potential bullish correction or reversal, especially if the price breaks the descending trend line resistance.

Support and Resistance:
Support: Immediate and significant support is clearly established at approximately 142.160. A break below this could see further bearish momentum.
Resistance: Immediate resistance is situated at approximately 143.155, with subsequent higher resistances at approximately 144.820 and 146.150.

Conclusion and Consideration:
The USDJPY H4 technical and fundamental analysis suggests cautious optimism for potential bullish developments, contingent on breaking the prevailing downtrend line. Traders must closely monitor today's economic releases and central bank speeches as they hold significant potential to drive volatility. Due to critical technical points and fundamental events today, risk management should be diligently applied to navigate potential sharp market movements.

Disclaimer: The analysis provided for USD /JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDJPY. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.27.2025

AUD/USD Daily Technical and Fundamental Analysis for 05.28.2025 (https://fxglory.com/2025/05/28/aud-usd-daily-technical-and-fundamental-analysis-for-05-28-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's fundamental landscape is shaped by key economic releases and central bank developments influencing both the AUD and USD. For the Australian Dollar, focus is on the year-over-year Consumer Price Index (CPI), which came in at 2.3%, slightly below the forecast of 2.4%, potentially softening inflation expectations and reducing pressure on the RBA to tighten policy further. Construction Work Done matched expectations at 0.5% q/q, offering little surprise to the market. On the USD side, traders are eyeing several important events, including the Richmond Manufacturing Index, which printed at -9 versus the prior -13, indicating slight improvement but still signaling contraction. The release of the FOMC Meeting Minutes later in the day will be closely scrutinized for any hawkish tilt, while the API Weekly Statistical Bulletin could impact market sentiment, especially in energy-related sectors. Stronger-than-expected signals from the Fed could provide support for the U.S. Dollar.

Price Action:
The AUD-USD pair on the H4 timeframe is currently consolidating within a rising channel, bounded by clearly defined red trendlines. Price action shows a recent rejection near the upper boundary, followed by a retreat toward the midline of the Ichimoku cloud, which is now acting as potential dynamic support. The RSI is hovering around 42.80, indicating mild bearish momentum but not yet oversold. Notably, the price remains above the long-term ascending trendline, suggesting the broader bullish structure is intact. A decisive move below the Ichimoku cloud and channel support could signal a bearish reversal, while a bounce from this level may open the path for another test of the upper resistance line.

Key Technical Indicators:
Ichimoku Cloud: Price is testing the top of the cloud after falling below the Tenkan-sen and Kijun-sen, signaling short-term bearish pressure. A break below the cloud could confirm a bearish shift, while a bounce may revive bullish momentum.
RSI: RSI sits at 42.80, showing mild bearish momentum but not oversold. A rebound from this level could hint at a potential bullish reversal if supported by price action

Support and Resistance:
Support: The first key support is located at approximately 0.64080, near the ascending channel's lower boundary. A deeper support level lies around 0.63650, which has previously acted as a price floor.
Resistance: Immediate resistance is seen at approximately 0.64950, near recent highs. A higher resistance level is positioned around 0.65400, marking the upper boundary of the rising channel.

Conclusion and Consideration:
The AUD-USD pair remains at a critical juncture, with price action consolidating within a rising channel and key support levels being tested. While fundamentals suggest mixed sentiment—soft Australian inflation data versus potentially hawkish U.S. signals—the technical outlook remains cautiously bullish as long as the price holds above 0.64080. Traders should closely monitor the reaction to upcoming U.S. events and watch for a decisive move either below the Ichimoku cloud for a bearish confirmation or a rebound toward resistance levels for a continuation of the upward trend.

Disclaimer: The analysis provided for AUD /USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.28.2025

GBPUSD Daily Technical and Fundamental Analysis for 05.29.2025 (https://fxglory.com/2025/05/29/gbpusd-daily-technical-and-fundamental-analysis-for-05-29-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's GBPUSD pair is expected to see heightened volatility due to key events in both the UK and US. GBP is likely to react significantly to speeches by BOE Governor Andrew Bailey and BOE Deputy Governor Sarah Breeden, who may offer clues about future interest rate decisions. Meanwhile, the USD faces multiple key economic releases, including GDP data, initial jobless claims, and speeches by Federal Reserve members Austan Goolsbee and Adriana Kugler, which could heavily influence USD valuation through shifts in monetary policy expectations and economic outlook.

Price Action:
On the GBPUSD H4 chart, the pair maintains a bullish long-term trend but has recently retraced after touching the upper Bollinger Band, now approaching the lower band. Current candlestick formations suggest short-term bearish momentum, reinforced by the Parabolic SAR dots positioned above the candles, indicating selling pressure. Traders should watch closely for potential reversals near key support levels.

Key Technical Indicators:
Bollinger Bands: GBP/USD recently touched the upper band and has swiftly reversed to test the lower band, signaling possible short-term bearish consolidation. Traders might anticipate volatility and potential rebounds from the lower Bollinger Band.
Parabolic SAR: The Parabolic SAR dots are currently placed above the candles, clearly signaling a bearish sentiment in the short term. Traders should consider this indication for potential continuation of downward momentum until a reversal occurs.
MACD (Moving Average Convergence Divergence): The MACD histogram is declining, indicating waning bullish momentum and a potential bearish crossover. This suggests that the selling pressure may increase in the near term, prompting traders to prepare for potential downward moves.
Williams %R: Currently at -87.17, Williams %R indicates an oversold condition. This oversold level typically hints at a potential upcoming reversal or at least a temporary bullish correction, advising caution for short traders.

Support and Resistance:
Support: Immediate support for GBP USD is located around the 1.3430 area, coinciding with the lower Bollinger Band and ascending trendline.
Resistance: The nearest resistance is observed at approximately 1.3485, aligning with recent price highs and the previous breakout level.

Conclusion and Consideration:
Technical indicators on the GBP-USD H4 chart currently reflect short-term bearish sentiment within a broader bullish trend. The market's response to today's key economic announcements and central bank speeches will be critical in determining the pair's next directional move. Traders should exercise caution due to expected volatility around the announcements.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.29.2025

EUR/USD Daily Technical and Fundamental Analysis for 05.30.2025 (https://fxglory.com/2025/05/30/eur-usd-daily-technical-and-fundamental-analysis-for-05-30-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EURUSD currency pair reflects market dynamics between the Euro (EUR) and the US Dollar (USD). Today, notable volatility is expected due to key economic data and speeches impacting both currencies. For the USD, significant events include speeches from FOMC members Mary Daly, Lorie Logan, and Raphael Bostic, along with critical economic releases like Core PCE Price Index, Personal Income, and the University of Michigan Consumer Sentiment report. For EUR, traders will closely monitor German and Eurozone CPI data and Retail Sales reports, which are essential indicators influencing monetary policy and inflation expectations.

Price Action:
EUR-USD price action analysis on the H4 timeframe shows bullish momentum. Recently, the EURUSD broke and successfully retested a crucial resistance level, now acting as support, signaling bullish continuation potential. Currently, the price is heading towards the next resistance level at 1.14052. If this resistance is breached convincingly, the price action may target the upper resistance trend line, enhancing bullish sentiment further.

Key Technical Indicators:
Bollinger Bands: Bollinger Bands show expanding volatility with the price currently trading near the upper band, indicating strong bullish momentum. Continued trading near the upper band suggests potential upward continuation but also calls for vigilance for potential short-term corrections.
Parabolic SAR: The Parabolic SAR indicator is below the price bars, confirming the bullish trend. It indicates continued bullish sentiment until the dots reverse position above the price.
RSI (Relative Strength Index): The RSI indicator is at 58.22, suggesting moderate bullish momentum without being in the overbought territory. There is room for further upside movement, supporting a potential rise toward resistance.
MACD (Moving Average Convergence Divergence): MACD histogram is positive and recently crossed above the signal line, confirming bullish momentum. This indicator suggests increased buying pressure, reinforcing bullish sentiment in the short term.
Awesome Oscillator: The Awesome Oscillator has recently shifted to a small positive value, highlighting a bullish reversal from previous bearish momentum. The oscillator supports current bullish price action, though continued monitoring is essential for confirmation.

Support and Resistance:
Support: Immediate support is located at 1.11849, which aligns with the recently retested significant support.
Resistance: The nearest resistance level is at 1.14052, which coincides with key horizontal resistance and recent price action highs.

Conclusion and Consideration:
The EURUSD H4 analysis indicates a bullish bias supported by technical indicators and confirmed by recent price action. Traders should monitor closely upcoming US and EU economic data and speeches, which could significantly affect volatility and the EURUSD pair’s trajectory. A break above 1.14052 may trigger further bullish momentum, aiming towards the upper resistance trend line. Traders should manage risk carefully due to potential volatility from today's news events.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
05.30.2025

BTCUSD Daily Technical and Fundamental Analysis for 06.02.2025 (https://fxglory.com/2025/06/02/btcusd-daily-technical-and-fundamental-analysis-for-06-02-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, the USD is expected to experience significant volatility with multiple critical economic events and speeches. Federal Reserve speakers including Christopher Waller, Jerome Powell, Austan Goolsbee, and Lorie Logan are scheduled, potentially influencing USD through monetary policy hints. Additionally, key reports like the ISM Manufacturing PMI and Manufacturing Prices Paid Index will further affect the dollar's strength. For Bitcoin (BTC), the absence of specific events means it will largely follow technical cues and market sentiment impacted indirectly by USD movements.

Price Action:
BTC/USD price action analysis on the H4 timeframe shows a clear correction from its recent All-Time High (ATH). After failing at the first support level, BTC found support near the 104347 level, indicated by two recent bullish candles. Despite this support, BTCUSD remains vulnerable to further downside, with potential tests at 102830 and subsequently 98437. The observable divergence between price and oscillators highlights potential weakening in the current bullish momentum, warranting caution.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands have widened, reflecting increased volatility in BTC-USD. Price recently touched the lower band, signaling a possible short-term reversal or pause in the bearish correction.
Parabolic SAR: The indicator is bearish, with dots positioned above the current price candles, signifying a dominant bearish momentum in BTCUSD. Traders should monitor for a shift of dots below candles for potential bullish signals.
RSI (Relative Strength Index): The RSI at 42.22 is in neutral territory but leaning bearish, suggesting potential further downside in BTCUSD, although not yet oversold, leaving room for additional price declines.
MACD (Moving Average Convergence Divergence): The MACD histogram shows decreasing bearish momentum, with bars shortening, indicating a possible weakening in selling pressure. Traders should watch for a bullish crossover as a reversal signal.
Stochastic Oscillator: Currently at 35.37, the Stochastic Oscillator indicates bearishness, not yet oversold, suggesting possible continuation downward before any meaningful bullish reversal occurs.

Support and Resistance:
Support: Immediate support at 104347, further downside supports at 102830 and crucial support at 98437.
Resistance: Immediate resistance at 105410, followed by 108530, with stronger resistance around 109308.

Conclusion and Consideration:
The BTC-USD pair on the H4 timeframe indicates continued bearish pressure amid recent correction dynamics from its ATH. Although technical indicators like MACD and RSI suggest weakening bearish momentum, key supports remain critical to watch closely. Traders should prepare for heightened volatility driven by today's extensive USD economic news and Federal Reserve speeches. Caution is advised due to possible sudden market shifts influenced by macroeconomic developments.

Disclaimer: The analysis provided for BTC/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on BTCUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.02.2025

USD/JPY Daily Technical and Fundamental Analysis for 06.03.2025 (https://fxglory.com/2025/06/03/usd-jpy-daily-technical-and-fundamental-analysis-for-06-03-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's USD-JPY currency pair will be influenced by significant economic events impacting both USD and JPY. The upcoming U.S. JOLTS Job Openings and Manufacturing Orders data can introduce volatility due to their implications for employment trends and manufacturing activity, respectively. Additionally, multiple speeches by Federal Reserve officials today may further influence market expectations regarding future monetary policy. Concurrently, JPY traders will closely monitor BOJ Governor Kazuo Ueda's remarks for potential shifts in Japan's monetary policy, impacting the Yen significantly.

Price Action:
Analyzing the USDJPY H4 chart reveals that the pair has approached its ascending support line, indicating a crucial test of price stability. If the price obtains support at the current level, it could likely initiate another upward move, aiming to retest the daily resistance line previously breached. The weakened downtrend observed recently could signal the potential initiation of a bullish reversal upon breaking this key resistance.

Key Technical Indicators:
Ichimoku Cloud: The price is positioned below the Ichimoku cloud, which indicates a prevailing bearish sentiment. However, the narrowing span of the cloud suggests possible trend exhaustion, with potential for bullish momentum if price moves upwards through the cloud.
MACD: MACD is below the signal line and in negative territory, highlighting current bearish momentum. Nevertheless, decreasing histogram bars suggest weakening bearish momentum, potentially signaling a bullish divergence soon.
Parabolic SAR: The Parabolic SAR indicator remains above the price, underscoring a bearish bias. However, its proximity to price action indicates a potential switch soon if bullish pressure emerges.
%R (Williams %R): The %R indicator at -92.61 indicates oversold conditions, suggesting the price could soon experience a corrective rally or upward momentum.
Volume: Recent volume bars demonstrate relatively stable volume levels without significant spikes. A notable volume increase coinciding with bullish price action would strongly support a trend reversal.

Support and Resistance Levels:
Support: Immediate support is around the 142.650 level, aligning with the ascending trendline visible on the H4 chart.
Resistance: The key resistance is positioned near the 144.250 level, aligning with the daily resistance line and previous high points.

Conclusion and Consideration:
The USD/JPY analysis on the H4 timeframe shows the pair at a crucial support level with indications of weakening bearish momentum. Technical indicators such as Ichimoku Cloud, MACD, and Williams %R point toward a potential reversal scenario. Traders should remain vigilant to upcoming economic data releases and central bank speeches today, as these events could introduce volatility and alter market sentiment significantly. Always ensure risk management protocols are in place.

Disclaimer: The analysis provided for USD/JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDJPY. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.03.2025

AUDUSD Daily Technical and Fundamental Analysis for 06.04.2025 (https://fxglory.com/2025/06/04/audusd-daily-technical-and-fundamental-analysis-for-06-04-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, the AUDUSD pair is set for a dynamic trading session amid mixed economic data and key events. Early in the Asian session, Australia's GDP q/q figure is released, showing a modest 0.4% growth against an expected 0.6%, potentially weighing on the AUD. Meanwhile, the USD faces several critical reports and speeches that could drive volatility, including the ADP Non-Farm Employment Change, which came in stronger than forecast at 111K versus 62K, possibly boosting the greenback. FOMC members Bostic and Cook are also scheduled to speak, with market participants watching closely for any monetary policy signals. Later in the day, the USD Final Services PMI held steady at 52.3, while the ISM Services PMI rose to 52.0, above expectations, and Crude Oil Inventories showed a slight drawdown. The release of the Fed’s Beige Book in the evening will provide further insights into economic conditions, keeping USD traders alert. Overall, AUDUSD will likely react to a blend of Australian growth data and US employment and service sector reports.

Price Action:
AUD/USD price action analysis on the H4 timeframe reveals a prolonged period of sideways consolidation between the resistance at approximately 0.65142 and support near 0.64035. The pair has tested these levels multiple times, showing indecision in the market. The Ichimoku Cloud indicates a mixed sentiment with price hovering around the Kijun-Sen (blue line) and Tenkan-Sen (red line), while the cloud itself is relatively flat, confirming the sideways trend. The MACD histogram shows minimal momentum with a close-to-zero reading, reflecting the lack of strong directional bias. A decisive break above the 0.65142 resistance could trigger a bullish move targeting the next resistance at 0.65366, whereas failure to break higher might see the pair retesting support levels around 0.64035 and possibly 0.63558.

Key Technical Indicators:
Ichimoku Cloud: The Ichimoku Cloud shows a flat and narrow formation, indicating consolidation and indecision in the AUD/USD market. The price is hovering around the Tenkan-Sen (red line) and Kijun-Sen (blue line), suggesting no clear trend direction. The cloud ahead is thin and slightly bullish, hinting at potential for a breakout but with cautious momentum.
MACD (Moving Average Convergence Divergence): The MACD histogram is close to the zero line with small bars, reflecting very weak momentum and a lack of strong directional bias. The MACD line and signal line are nearly converged, indicating the market is in a neutral state, and traders should watch for a clear crossover to signal a potential trend shift.

Support and Resistance:
Support: Immediate support at 0.64035, with further downside support levels at 0.63558 and a crucial support zone near 0.63300.
Resistance: Immediate resistance at 0.65142, followed by a higher resistance level at 0.65366.

Conclusion and Consideration:
In conclusion, the AUD/USD pair is poised for a cautious trading session influenced by mixed Australian GDP data and stronger-than-expected US employment figures, alongside key speeches and reports that could sway market sentiment. Technically, the pair remains in a consolidation phase with limited momentum, as reflected by the Ichimoku Cloud and MACD indicators, signaling indecision and a lack of clear direction. Traders should watch closely for a breakout above the 0.65142 resistance to confirm a bullish shift, or a breakdown below 0.64035 support that could open the way for further declines. Overall, the interplay of fundamental catalysts and technical consolidation suggests that volatility may increase, but clear directional cues are yet to emerge.

Disclaimer: The analysis provided for AUD/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on AUDUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.04.2025

EUR/GBP H4 Technical and Fundamental Analysis for 06.05.2025 (https://fxglory.com/2025/06/05/eur-gbp-h4-technical-and-fundamental-analysis-for-06-05-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR-GBP currency pair is impacted by a series of economic releases and central bank statements. For the Euro (EUR), there are several key reports due today, including industrial orders and retail sales data, which can provide insight into economic activity and consumer spending within the Eurozone. Positive data could strengthen the EUR against the GBP. On the other hand, the GBP may face volatility with key figures such as BOE members scheduled to speak, including Megan Greene and Sarah Breeden, both of whom may drop hints regarding future monetary policies. These events are crucial as they provide insights into potential rate changes or economic outlooks, impacting the value of the British Pound.

Price Action:
The EURGBP pair has recently shown signs of potential bullish reversal after breaking the downward trend line. The price action has formed a higher low, reinforcing the possibility of an uptrend beginning. The pair is currently testing a significant resistance zone, marked by daily resistance levels. The reaction to this level will be pivotal, and if the price manages to break through, further upside potential exists towards the resistance line. The divergence between recent lows also adds to the credibility of this analysis, suggesting that the momentum is shifting in favor of the bulls.

Key Technical Indicators:
Bollinger Bands: The Bollinger Bands are relatively tight, signaling that the market may be entering a consolidation phase before a potential breakout. The price action has recently moved within the upper half of the bands, indicating bullish momentum. A breakout from the upper Bollinger Band could propel the EURGBP to higher levels, especially if the market manages to clear the resistance zone.
Parabolic SAR: The Parabolic SAR has flipped bullish, with dots now appearing below the price action. This is a clear signal of potential upward momentum. The alignment of the SAR with the higher lows strengthens the case for further upward movement, and traders will be looking for the dots to continue staying below the price, confirming the bullish trend.
RSI (Relative Strength Index): The RSI is currently at 53.31, indicating neutral conditions. It is not in the overbought or oversold zones, suggesting that there is still room for price movement in either direction. A rise in RSI above 60 could further confirm bullish continuation, while a dip below 30 might indicate a deeper retracement or a reversal.
MACD (Moving Average Convergence Divergence): The MACD line is slightly above the signal line, indicating positive momentum. However, the histogram is very close to zero, signaling that bullish momentum might be weakening. A widening gap between the MACD line and the signal line would confirm stronger upward momentum. Traders should watch for a potential bullish crossover in the near term for confirmation of continued strength.

Support and Resistance:
Support: Immediate support lies at 0.83400, which aligns with recent price action and the lower boundary of the trend. A break below this level would suggest further downside potential.
Resistance: The key resistance level is found around 0.84350, which has been a persistent barrier. This level coincides with both a recent high and the daily resistance, making it a crucial area to watch for any breakout or rejection.

Conclusion and Consideration:
The EUR/GBP pair is poised for a potential uptrend, with key indicators such as the Parabolic SAR, Bollinger Bands, and price action suggesting bullish momentum. A successful breakout above the resistance at 0.84350 could lead to a test of higher levels. However, traders should be mindful of the neutral RSI and the MACD histogram's lack of significant momentum, which implies caution. Upcoming economic events for both the Eurozone and the UK, including retail sales and central bank speeches, could introduce volatility, influencing short-term price movements.

Disclaimer: The analysis provided for EUR/GBP is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURGBP. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.05.2025

USD/CAD H4 Technical and Fundamental Analysis for 06.06.2025 (https://fxglory.com/2025/06/06/usd-cad-h4-technical-and-fundamental-analysis-for-06-06-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD-CAD pair is sensitive today due to several significant news releases. USD traders are attentive to the upcoming Non-Farm Payrolls, Unemployment Rate, Employment Cost Index, and Consumer Credit data, critical indicators affecting inflation and employment health. Positive labor market figures and increased consumer credit could strengthen the USD, potentially pushing USDCAD upwards. CAD traders are waiting for employment figures from Canada, releasing on July 11, which might keep today's movements influenced by USD dynamics primarily.

Price Action:
The USDCAD H4 chart shows a clear downtrend, recently testing its support level and moving upwards to retest its descending trendline resistance. The price could face significant resistance here; breaking above this trendline would indicate potential initiation of a new upward trend. Traders must remain cautious and await confirmation of a break above the resistance line to establish any bullish position.

Key Technical Indicators:
Parabolic SAR: The indicator dots are currently above the price, suggesting bearish momentum. Traders should wait for the dots to shift below price levels, signaling a potential reversal towards a bullish bias.
RSI: Currently at 38.51, the RSI indicates a mildly bearish sentiment. However, it's not yet oversold, allowing for potential downward continuation or eventual upward momentum if a reversal is signaled by price action.
MACD: The MACD histogram is slightly negative, indicating current bearish momentum. Traders should monitor closely for a crossover of the MACD line above the signal line to identify a possible bullish reversal.
Stochastic Oscillator: Currently at 75.03, showing a potentially overbought condition. This suggests caution, as the price could face downward pressure in the short term unless bullish momentum intensifies significantly to confirm an upward breakout.

Support and Resistance:
Support: Immediate support is found at 1.3627, a crucial level that recently stopped the price's downward momentum.
Resistance: Immediate resistance stands at the descending trendline, currently around 1.3700, which is critical for potential trend reversal confirmation.

Conclusion and Consideration:
The USD/CAD H4 remains bearish but faces a critical test at its descending trendline resistance. Technical indicators suggest caution, with the potential for a trend reversal pending confirmation. Fundamental news releases today significantly influence USD strength, warranting close monitoring. Traders should wait for clear breakout confirmations before entering positions.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.06.2025

GOLD H4 Technical and Fundamental Analysis for 06.09.2025 (http://"https://fxglory.com/2025/06/09/gold-h4-technical-and-fundamental-analysis-for-06-09-2025/")

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Gold (XAU/USD) is likely to experience volatility today driven by upcoming key economic data from the US Census Bureau regarding Wholesale Inventories. Traders should closely monitor the release, as a lower-than-forecasted result usually strengthens the USD, negatively impacting Gold prices. Conversely, weaker inventory data might spur demand for safe-haven assets like Gold, offering support to bullish scenarios.

Price Action:
Analyzing the GOLD H4 chart, the price recently experienced a correction that broke the immediate ascending trendline with the last two bearish candles. However, the broader bullish sentiment remains strong, potentially signaling a Breakout Failure (BOF). The visible divergence between recent price lows and oscillators strengthens this view, suggesting the possibility of a bullish reversal soon. Should the price continue declining, further downside targets include the subsequent ascending trendline and immediate horizontal support levels.

Key Technical Indicators:
Parabolic SAR: Currently positioned above the price candles, suggesting a bearish sentiment short-term. A shift below candles would confirm renewed bullish momentum.
RSI: RSI stands at 36.49, approaching oversold territory. This indicates potential exhaustion of bearish momentum, implying a near-term reversal might occur.
Stochastic Oscillator: The stochastic indicator is approaching oversold levels, further highlighting potential bullish reversal opportunities soon, supported by oscillator-price divergence.
Volume: Recent bearish candles showed moderate volume, indicating sellers are present but not yet dominating strongly, adding caution to bearish continuation expectations.

Support and Resistance:
Support: Immediate key support at approximately 3296.84, followed by a more critical support level around 3269.84, aligning with previous consolidation zones.
Resistance: Significant resistance identified near 3361.84, a recent peak, and beyond that at approximately 3407.84, representing previous highs.

Conclusion and Consideration:
The H4 technical and fundamental chart daily analysis for GOLD indicates current bearish pressure but highlights robust underlying bullish strength. Traders should cautiously monitor price actions around immediate support zones for potential reversals. Today's wholesale inventories data could be pivotal in defining short-term Gold price direction, emphasizing the importance of attentive risk management strategies.

Disclaimer: The analysis provided for XAU/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on XAUUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.09.2025

EURUSD H4 Technical and Fundamental Analysis for 10.06.2025 (https://fxglory.com/2025/06/10/eurusd-h4-technical-and-fundamental-analysis-for-10-06-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD currency pair is highly influenced by the economic conditions in both the Eurozone and the United States. The Euro is currently affected by upcoming economic data releases, with the Industrial Output report from Istat scheduled for release on July 10, 2025. A positive result could indicate a stronger euro, boosting market sentiment for EUR. On the US side, the NFIB Small Business Index report is due on July 8, 2025, which could give further insight into the health of the US economy. Traders will closely watch these data points for any signs of strengthening or weakening in the respective currencies.

Price Action:
The EUR-USD is currently experiencing a strong upward movement, following a pullback to the broken support level at 1.11330. This breakout has pushed the price towards its resistance zone near 1.1420, showing that the bullish momentum is intact. The price action is forming an ascending triangle pattern, indicating that a potential breakout above this resistance level could drive the price higher, potentially targeting the last high at around 1.15640. Traders should watch for the breakout confirmation to seize the next move.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR is currently positioned below the price, confirming the bullish trend. The consistent dots beneath the price suggest that the upward momentum could continue, with the SAR providing support at lower levels if the price retraces.
MACD (Moving Average Convergence Divergence): The MACD is showing bullish momentum with the MACD line above the signal line, and the histogram remains positive. However, the momentum is starting to show signs of slowing down, as indicated by the decreasing size of the histogram. Traders should remain cautious for a possible slowdown in the bullish trend.
%R (Williams %R): The %R indicator is currently positioned in the neutral zone, showing a value of around -40.19. This suggests that the market is neither overbought nor oversold, which aligns with the ongoing bullish price action without signaling any immediate reversal or exhaustion.

Support and Resistance:
Support: Immediate support is located at 1.11330, which aligns with the broken level that previously acted as a strong support. If the price retraces, this level could offer substantial support and lead to further upward movement.
Resistance: The nearest resistance level is at 1.1420, where the price has recently encountered a strong barrier. A break above this level could signal a continuation of the bullish trend, targeting higher levels.

Conclusion and Consideration:
The EURUSD pair is in a strong uptrend, supported by a solid break above the 1.11330 level. The Parabolic SAR and MACD indicators back the bullish move, but traders should watch for any signs of weakening momentum in the MACD histogram. The price action suggests that the pair is in the process of testing resistance at 1.1420, and a breakout above this level could lead to a test of 1.15640. Economic data from both the Eurozone and the US in the coming weeks will be crucial in shaping the direction of the EURUSD. Traders should stay vigilant for any shifts in sentiment and be prepared for potential volatility.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.10.2025

GBPUSD Daily Technical and Fundamental Analysis for 06.11.2025 (https://fxglory.com/2025/06/11/gbpusd-daily-technical-and-fundamental-analysis-for-06-11-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today, the GBPUSD pair is poised for a potentially volatile session as both UK and US economic releases influence market sentiment. Early UK data reveals a mixed picture: GDP m/m unexpectedly contracted by 0.1% versus the forecasted 0.2%, while Industrial and Manufacturing Production both declined by 0.4% and 0.8% respectively, indicating softness in the UK's economic activity. Construction Output came in slightly below expectations at 0.3%, and the Goods Trade Balance widened to -£20.8B, missing the -£19.9B estimate. However, the Index of Services held steady at 0.7%, offering some stability. On the US side, inflation readings were generally in line or slightly stronger, with Core CPI m/m rising 0.3% (vs. 0.2%) and CPI y/y at 2.5% (vs. 2.3%), reinforcing the case for a cautious Fed. Additionally, Core PPI and PPI m/m both rebounded into positive territory, while Unemployment Claims fell to 242K, better than expected. With inflation pressures persisting in the US and economic signals from the UK turning softer, GBPUSD may face downside pressure, though traders will remain alert to upcoming Fed commentary and broader risk sentiment.

Price Action:
GBP/USD price action analysis on the H4 timeframe signals a potential shift toward bearish momentum following a break below key technical levels. The pair has decisively fallen beneath both its recent ascending trendline and the Ichimoku Cloud, indicating a weakening bullish structure. The cloud itself has turned bearish, with future cloud projection showing a downward tilt. Price is also trading below both the Tenkan-Sen (red line) and Kijun-Sen (blue line), reinforcing the bearish bias. Meanwhile, the MACD histogram has dipped into negative territory with increasing downside bars, suggesting growing bearish momentum and a possible continuation of the downward wave. If the pair sustains below the 1.3470 area, further declines could target support zones near 1.3400 and possibly extend toward 1.3340 in the near term.

Key Technical Indicators:
Ichimoku Cloud: The Ichimoku Cloud on the GBP/USD H4 chart shows a bearish configuration. The price has broken decisively below the cloud, signaling a shift from bullish to bearish sentiment. Both the Tenkan-Sen (red line) and Kijun-Sen (blue line) are above the current price, reinforcing downward pressure. The cloud ahead is bearish and slightly expanding, indicating growing downside momentum and a potential continuation of the bearish trend.
MACD (Moving Average Convergence Divergence): The MACD histogram has turned negative with increasing red bars, suggesting strengthening bearish momentum. The MACD line is below the signal line and diverging further, confirming the bearish crossover and trend continuation potential. This setup supports a downside bias for GBP/USD in the near term.

Support and Resistance:
Support: Immediate support for GBP/USD is seen near the 1.3420 level, which has previously acted as a consolidation base. A break below this could open the door to further downside targets around 1.3360, with a crucial support zone lying near 1.3320.
Resistance: On the upside, initial resistance is located around 1.3515, marked by the flat Kijun-Sen and previous price congestion. If bulls reclaim this level, the next key resistance is near 1.3580, aligning with the recent swing high before the breakdown.

Conclusion and Consideration:
In summary, GBP/USD appears vulnerable to further downside in the near term, driven by a combination of weaker-than-expected UK economic data and firmer US inflation metrics that support a cautious but hawkish Fed outlook. From a technical standpoint, the pair has broken below critical support levels, with bearish signals confirmed by the Ichimoku Cloud and MACD indicators. As price action remains under pressure and below key moving averages, momentum favors sellers, especially if the 1.3420 level fails to hold. Traders should closely monitor upcoming Fed commentary and broader market sentiment, as any shift in risk appetite or central bank tone could influence short-term direction.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.11.2025

USDCAD H4 Technical and Fundamental Analysis for 06.13.2025 (https://fxglory.com/2025/06/13/usdcad-h4-technical-and-fundamental-analysis-for-06-13-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today’s fundamental outlook for the USD/CAD pair is influenced by upcoming economic data from both the United States and Canada. For the USD, traders are closely watching the University of Michigan's Consumer Sentiment Index and Inflation Expectations data. These indicators are crucial as they reflect consumer confidence and future inflation expectations, both of which heavily influence Federal Reserve policy direction. If actual figures come out higher than forecast, the USD may see a bullish reaction due to increased prospects of tightening monetary policy.
On the Canadian side, Statistics Canada will release data regarding Capacity Utilization, Manufacturing Shipments, and Wholesale Trade. These figures serve as early signals of economic strength and inflationary pressure in Canada. If the results are strong, the CAD may benefit from increased investor confidence in the country's economic resilience, putting further downward pressure on the USD-CAD pair.

Price Action:
Analyzing the price action of USD CAD in the H4 chart, the pair continues its consistent bearish trend. The last few candlesticks have been predominantly red, with the latest three confirming strong bearish momentum. The USDCAD price has broken below the short-term rising support trendline and has now reached the 0.0 Fibonacci retracement level, which may act as a temporary support zone. Sellers remain in control, with no significant bullish reversal patterns currently in sight. This supports the continuation of the current downtrend, unless a strong reversal signal emerges.

Key Technical Indicators:
Moving Averages (MA - Blue 9 & Orange 17): The 9-period MA (blue) has crossed below the 17-period MA (orange), reinforcing a bearish crossover signal on the H4 chart. This alignment confirms the bearish trend continuation, and until a bullish crossover appears, short trades are technically favored in the current environment.
Parabolic SAR: The Parabolic SAR dots have formed above the candlesticks, indicating downward pressure in the market. This classic trend-following signal further supports bearish momentum and validates ongoing selling interest in USD/CAD.
Volume: Trading volume has increased on the latest bearish candles, with red bars dominating. This surge in volume accompanying price decline signals strong conviction from sellers and further weakens the likelihood of an immediate rebound.
MACD (12, 26, 9): The MACD line is below the signal line, and the histogram is printing negative values, though showing minor flattening. This indicates that bearish momentum remains intact, albeit with a hint of potential slowing. However, no bullish divergence is present, so trend continuation is still likely in the short term.

Support and Resistance:
Support: The immediate support lies near the recent 1.3530–1.3550 zone, marked by the 0.0 Fibonacci retracement level, which could serve as a short-term bounce area if sellers exhaust themselves.
Resistance: The nearest resistance level appears around the 1.3670–1.3690 zone, aligning with the 23.6% Fibonacci retracement level, where price previously struggled to break above.

Conclusion and Consideration:
The USDCAD H4 chart analysis reflects a strong bearish setup driven by aligned technical indicators such as the moving averages, parabolic SAR, MACD, and confirming price action. The pair is trading at a significant Fibonacci support level, but without a reversal pattern or divergence, bearish continuation remains likely. From a fundamental perspective, today's US inflation expectations and Canadian manufacturing-related data may trigger volatility and decide whether this support will hold or break. Traders should monitor these economic releases closely and remain cautious of unexpected spikes.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.13.2025

BTCUSD H4 Technical and Fundamental Analysis for 06.16.2025 (https://fxglory.com/2025/06/16/btcusd-h4-technical-and-fundamental-analysis-for-06-16-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The BTCUSD (Bitcoin vs US Dollar) pair may experience increased volatility today due to USD-related macroeconomic data. Specifically, attention is focused on the New York Manufacturing Index released by the Federal Reserve Bank of New York. As a forward-looking indicator of economic health, stronger-than-forecast results would support the USD, potentially putting short-term downward pressure on BTC/USD. However, broader crypto sentiment remains influenced by institutional accumulation and anticipation of regulatory developments. With Bitcoin's long-term bullish fundamentals intact—bolstered by growing adoption and inflation hedging—the market reaction to USD strength may be limited or short-lived unless the data shows a strong divergence from expectations.

Price Action:
The BTCUSD H4 chart exhibits ongoing consolidation just above the $100,000 psychological level, with price currently at $105,336. After reaching highs near $111,389, the market has retraced toward the 23.6% Fibonacci level, where it found support on the long-term upward trendline (green). Price action is compressing within this critical confluence zone, suggesting indecision. A series of lower highs indicate minor bearish momentum, but the long-term structure remains bullish unless the trendline support is broken with volume. The candlesticks show diminishing bearish bodies near support, hinting at a possible reversal or breakout above the local resistance area.

Key Technical Indicators:
Moving Averages (EMA 9 & EMA 17): The Bitcoin price is currently below both the short-term (blue, EMA 9) and long-term (orange, EMA 17) exponential moving averages. The short-term EMA has crossed below the long-term EMA, signaling bearish short-term momentum. However, this crossover occurs close to a major support level, indicating a possible upcoming bounce or reversal if bulls defend the trendline.
Parabolic SAR: The Parabolic SAR dots are positioned above the candles, confirming the current bearish sentiment. However, the dots are very close to the candlesticks, suggesting weakening selling pressure and potential for a bullish shift if price closes above the EMAs in the next few sessions.
Volume: Volume has increased slightly near the recent support touch, suggesting accumulation interest at the $100K–$105K zone. No significant spikes indicate panic selling; instead, volume patterns align with a potential base-building process at key support.
MACD (12,26,9): The MACD histogram remains below zero, and the MACD line is below the signal line, indicating bearish momentum. However, the histogram bars are shortening, implying a reduction in bearish momentum. A bullish crossover may soon occur if the trendline holds and upward momentum builds.

Support and Resistance:
Support: Strong support is established around $100,000, aligned with the 23.6% Fibonacci retracement level and the long-term upward trendline, creating a critical demand zone for BTC USD in this H4 analysis.
Resistance: Immediate resistance lies near $108,387, the recent swing high, with the next major barrier at $111,389, corresponding to the peak and 0.0 Fibonacci retracement level.

Conclusion and Consideration:
BTCUSD on the H4 chart remains within a long-term bullish trend, currently testing a key support zone around $100,000–$105,000. While short-term indicators like the EMA crossover, MACD, and Parabolic SAR suggest bearish pressure, the proximity to structural support and declining bearish momentum may lead to a bullish reversal. A confirmed close above the EMAs and increased volume could signal a fresh move toward the $108K–$111K resistance zone. Traders should closely monitor today’s USD news release, especially the New York Manufacturing Index, as stronger-than-expected data could bolster the USD and apply pressure to BTC. This BTC-USD H4 chart analysis recommends a cautious approach, waiting for clear price action confirmation before entering new positions.

Disclaimer: The analysis provided for BTC/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on BTCUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.16.2025

GBPUSD H4 Technical and Fundamental Analysis for 06.26.2025 (https://fxglory.com/2025/06/26/gbpusd-h4-technical-and-fundamental-analysis-for-06-26-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD pair is heavily influenced by economic data from both the UK and the US. For the USD, there are important upcoming economic releases that include GDP data, durable goods orders, and jobless claims, all of which can provide insights into the overall health of the US economy. The GDP release, in particular, is highly significant and is expected to provide a strong impact on market sentiment. On the other hand, GBP’s price movement could be influenced by the Bank of England’s statements on monetary policy, with Deputy Governor Sarah Breeden discussing the competitiveness of UK financial services. Traders are focused on these factors, as hawkish stances from the Bank of England or any stronger-than-expected US data could move the market substantially in the coming hours.

Price Action:
The GBP-USD pair shows a clear uptrend as evidenced by the rising trendline, which has been respected multiple times since the price broke above the 1.34149 level. The retest of this level has seen support each time, with the most recent retest showing a significant rebound higher than previous tests. The price has now advanced towards the upper boundary of this trend channel, suggesting further upside potential. However, if the price reverses, the 1.34149 level would be a critical support to watch. If the trendline continues to hold, GBPUSD could test new highs.

Key Technical Indicators:
Parabolic SAR (Stop and Reverse): The Parabolic SAR dots are positioned below the price, indicating that the current trend is bullish. This suggests continued upward momentum, with the indicator serving as a trailing stop.
RSI (Relative Strength Index): The RSI is currently at 69.59, nearing the overbought level of 70. This suggests that the price has been in an extended upward move, but the market still has room before hitting overbought conditions. This supports the possibility of further bullish movement, but caution is advised as the RSI is approaching overbought territory.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, and the histogram shows positive momentum. This indicates that the bullish trend remains intact, but the histogram is starting to show signs of weakening momentum. Traders should watch for potential divergence that could indicate a slowdown in upward pressure.
Standard Deviation: The Standard Deviation indicator shows increasing volatility, with the current value at 0.008901. This suggests that the market is becoming more volatile, and price movements could be more pronounced in the near term.

Support and Resistance:
Support: The most immediate support lies at 1.34149, where the price has repeatedly bounced off in the recent past. This level will be key if the price pulls back.
Resistance: The nearest resistance is seen near the trendline at approximately 1.35810. If the price breaks through this resistance, we could see further bullish movement towards new highs.

Conclusion and Consideration:
The GBP-USD pair remains in a strong bullish trend, as indicated by the Parabolic SAR and the positive momentum shown by the MACD. However, the RSI suggests that the pair is nearing overbought levels, and the Standard Deviation indicates increased volatility, which could lead to swift price moves. Traders should watch the support level at 1.34149, which could offer a solid entry point in case of a pullback. Any strong fundamental developments, particularly from the US or the Bank of England, could significantly influence the pair’s direction in the coming hours.

Disclaimer: The analysis provided for GBP/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on GBPUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.26.2025

USDCAD H4 Technical and Fundamental Analysis for 06.27.2025 (https://fxglory.com/2025/06/27/usdcad-h4-technical-and-fundamental-analysis-for-06-27-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's USDCAD fundamental analysis will be driven by several key economic releases from both the US and Canada. For the USD, traders are awaiting critical Personal Consumption Expenditure (PCE) data, Disposable Personal Income figures, and insights into consumer spending trends. Speeches by Federal Reserve members Lisa Cook and Beth Hammack could significantly affect USD volatility, especially if comments indicate a more hawkish stance toward inflation and labor market conditions. Additionally, the University of Michigan's consumer confidence and inflation expectation releases will be closely watched. On the CAD side, attention will center around the Gross Domestic Product (GDP) release from Statistics Canada, providing clarity on economic growth and influencing CAD valuation.

Price Action:
USD/CAD price action on the H4 chart indicates a bearish sentiment in the short term. After experiencing significant downward momentum, decreasing roughly 1050 points over three substantial bearish candles, the last two candles have reversed partially to green, showing potential for a short-term correction or consolidation. The overall bearish trend remains intact as the price trades below the descending trendline, highlighting continued downward pressure.

Key Technical Indicators:
Moving Averages (MA 9 and MA 17): The short-term MA (blue line, period 9) has crossed below the longer-term MA (orange line, period 17), signaling bearish sentiment. Both moving averages are sloping downward closely together, suggesting a sustained bearish momentum in the near term. Traders should monitor for potential crossovers or divergences for indications of changing market conditions.
Parabolic SAR: The Parabolic SAR indicator confirms bearish pressure, with the last four dots positioned above the price candles. This placement reinforces the bearish bias. However, the recent shift to green candles suggests cautiousness, and traders should closely observe if dots continue appearing above or start shifting below the candles, potentially indicating a reversal or consolidation.
MACD (Moving Average Convergence Divergence): The MACD shows bearish momentum as the MACD line remains below the signal line and the histogram reflects downward momentum. Nevertheless, traders should be cautious, as the histogram bars' length is decreasing, hinting at potential weakening bearish momentum and a possible short-term reversal.
Williams %R: The %R oscillator currently reads -76.74, showing oversold market conditions. While this typically signals a potential price correction upwards, traders should look for confirmation through additional bullish price action or other technical indicators before entering long positions, given the current bearish overall bias.

Support and Resistance:
Support: Immediate support is at the 1.3634 level, marking recent lows and aligning with Fibonacci retracement levels.
Resistance: Immediate resistance is around 1.3727, coinciding with recent highs and the descending trendline resistance.

Conclusion and Consideration:
The USDCAD H4 chart analysis indicates prevailing bearish momentum supported by technical indicators such as Moving Averages, Parabolic SAR, MACD, and Williams %R. Traders should remain cautious due to potential volatility from significant economic data and central bank speakers, particularly the upcoming US PCE data and Canada's GDP release. Monitoring support at 1.3634 and resistance at 1.3727 will be critical in gauging further directional bias.

Disclaimer: The analysis provided for USD/CAD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDCAD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.27.2025

XAU/USD H4 Technical and Fundamental Analysis for 06.30.2025 (https://fxglory.com/2025/06/30/xau-usd-h4-technical-and-fundamental-analysis-for-06-30-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today’s USD news events are anticipated to bring volatility to XAUUSD. The Chicago PMI, released by ISM-Chicago, will be closely monitored; a reading above forecasts could strengthen the USD, putting bearish pressure on gold prices. Moreover, speeches by Federal Reserve officials Raphael Bostic and Austan Goolsbee will significantly influence market sentiment. Hawkish comments hinting at future interest rate hikes could further pressure gold, typically negatively correlated with rising interest rates.

Price Action:
XAUUSD price action analysis in the H4 timeframe indicates a clear downward trajectory, having broken two key support lines recently. However, the latest candle formation, a bullish hammer, suggests potential bullish reaction at the third support line. Traders should watch for a possible pullback toward previously broken support levels, now acting as resistance, or monitor signs of a bullish reversal concluding the correction phase.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR dots remain positioned above the candles, confirming an ongoing bearish trend. However, the recent tightening proximity to price suggests weakening bearish momentum, potentially signaling a reversal or pullback soon.
Stochastic Oscillator: Stochastic currently resides near oversold territory, indicating potential exhaustion of selling pressure. Traders should watch for bullish crossovers as signs of possible upward correction or reversal.
MACD: MACD continues below the zero line, indicating a bearish environment. Nevertheless, the decreasing histogram bars suggest the bearish momentum is gradually weakening, hinting at a potential bullish divergence forming.
RSI (Relative Strength Index): The RSI indicator, currently at approximately 30.62, is hovering close to oversold levels, suggesting limited room for additional bearish moves. A reversal from this area could provide bullish entry signals.

Support and Resistance:
Support: Immediate support is observed near 3264.08, corresponding to recent lows and potential demand zone.
Resistance: Initial resistance is marked around 3294.25, aligning with previously broken support levels acting as new resistance.

Conclusion and Consideration:
The XAU-USD H4 technical and fundamental daily chart analysis suggests the potential for a bullish correction or reversal given the oversold technical conditions indicated by RSI and Stochastic. However, upcoming economic events related to USD can introduce volatility, significantly influencing gold’s short-term direction. Traders should cautiously monitor both fundamental developments and price action confirmations around identified support and resistance levels.

Disclaimer: The analysis provided for XAU/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on XAUUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
06.30.2025

USDJPY Daily Technical and Fundamental Analysis for 07.01.2025 (https://fxglory.com/2025/07/01/usd-jpy-daily-technical-and-fundamental-analysis-for-07-01-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The USD/JPY currency pair is set for significant volatility today as major economic events and speeches by central bank officials are scheduled. BOJ Governor Kazuo Ueda and Federal Reserve Chair Jerome Powell are due to participate in policy discussions at the ECB Forum, providing crucial insights into future monetary policies and potentially triggering sharp market movements. Furthermore, key manufacturing PMI data releases for both the US and Japan will likely influence market sentiment and currency strength, impacting the USDJPY price significantly.

Price Action:
The USD JPY analysis on the H4 timeframe currently reveals a bearish sentiment. Price action has maintained a clear downtrend, touching crucial support at 143.895. The recent three red candles suggest ongoing bearish momentum, though the pair is now at a pivotal level. If support holds firm, price action would need to breach the downward trendline resistance to confirm a bullish reversal. Failure to hold this support may drive the pair towards the lower Bollinger Band.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR dots remain positioned above the candles, strongly confirming the ongoing bearish momentum in the USD-JPY. Traders should monitor closely for any shift of SAR dots below candles, signaling a potential reversal.
RSI (Relative Strength Index): The RSI indicator currently sits at 39.14, indicating a bearish momentum that has not yet reached oversold conditions. This leaves room for further declines before potential bullish pressure emerges.
MACD (Moving Average Convergence Divergence): The MACD histogram is negative and has been consistently showing bearish momentum. The MACD line remains below the signal line, affirming continued selling pressure and cautioning against immediate long positions without clear reversal signals.
Stochastic Oscillator: The Stochastic oscillator reading is at 33.28, showing a downward trajectory which indicates continued bearish momentum. It has not yet reached oversold territory, suggesting potential for further downside in the near term.
Bollinger Bands: Price is currently hovering near the lower Bollinger Band, which typically serves as dynamic support. The bands are slightly widening, suggesting potential for increased volatility. Should the price rebound from the current level, the mid-band becomes the primary target, whereas a break below could accelerate declines.

Support and Resistance Levels:
Support: Immediate support is firmly established at 143.895, aligned with recent price lows.
Resistance: The nearest significant resistance is at the descending trendline around the 144.500 level, followed by the Bollinger Band middle line near 144.800.

Conclusion and Consideration:
The USDJPY pair's H4 chart reflects a bearish trend, supported by technical indicators such as MACD, RSI, Parabolic SAR, and Stochastic Oscillator. Fundamental events, particularly speeches by BOJ Governor Kazuo Ueda and Fed Chair Jerome Powell, and manufacturing PMI releases, can significantly influence price direction today. Traders should watch closely for a confirmed break or rebound from the support line at 143.895 to guide trading decisions. Due to expected high volatility, maintaining strict risk management strategies is strongly recommended.

Disclaimer: The analysis provided for USD/JPY is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on USDJPY. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
07.01.2025

EURUSD Daily Technical and Fundamental Analysis for 07.02.2025 (https://fxglory.com/2025/07/02/eurusd-daily-technical-and-fundamental-analysis-for-07-02-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/USD currency pair is set for potential volatility today as several key economic events and data releases are scheduled. Early morning figures such as the French Government Budget Balance and Spanish Unemployment Change could influence market sentiment regarding fiscal and employment conditions in the Eurozone. The German 10-year Bond Auction later in the day will provide insights into investor confidence in German debt, impacting the EUR. On the US side, key releases like the Challenger Job Cuts and ADP Non-Farm Employment Change will provide clues about the US labor market, potentially influencing expectations for Federal Reserve policy. ECB President Lagarde’s speech in the afternoon will further shape market outlooks on Eurozone monetary policy, adding to the potential for significant movement in the EUR/USD pair.

Price Action:
The EUR/USD on the H4 timeframe is currently experiencing a bullish phase, with the price making consistent higher highs. However, there is a noticeable decrease in the slope of this upward trend, indicating that the bullish momentum is slowing down. The price is approaching resistance near the upper Bollinger Band, which suggests the pair may be nearing overbought conditions. Additionally, the RSI, while still in positive territory, is showing signs of divergence, further suggesting that buying pressure may be waning. If the price manages to break through the current resistance and hold above the upper Bollinger Band, this could signal continued bullish momentum and potential for further gains. On the other hand, failure to maintain this strength could lead to a pullback, testing the middle Bollinger Band or even lower levels. The price action is at a critical point, and the next movement will depend on whether the bullish momentum can be sustained or if a correction is imminent.

Key Technical Indicators:
Williams %R: The Williams %R is currently at -17.31, indicating that the market is in overbought territory but not yet at extreme levels. This suggests that there is still potential for further upward movement before the market reaches overbought conditions, which could signal a reversal if it continues to climb.
Bollinger Bands: The price is trading near the upper Bollinger Band, signaling that the market is in an extended bullish phase. The bands are slightly widening, which suggests increased volatility. If the price continues to test the upper band and maintains this momentum, further gains could follow, with the upper band acting as resistance. However, a pullback to the middle band would act as dynamic support if the price fails to sustain the current momentum.
Volume: Volume bars are showing mixed activity, with green bars indicating buying pressure and red bars suggesting selling. While the overall volume remains moderate, the recent green bars are notable, suggesting that there is still some buying interest. A sustained increase in volume would reinforce the bullish outlook, while decreasing volume may signal a potential slowdown in momentum.

Support and Resistance Levels:
Support: Immediate support is seen around the 1.08600 level, aligned with recent price lows, providing a key area for potential price rebound.
Resistance: Immediate support is seen around the 1.08600 level, aligned with recent price lows, providing a key area for potential price rebound.

Conclusion and Consideration:
In conclusion, the EUR/USD pair is set for potential volatility due to key economic data releases today, including reports from both the Eurozone and the U.S. Technically, the pair is in a bullish phase but showing signs of slowing momentum as it approaches resistance near the upper Bollinger Band. With the Williams %R and RSI indicating overbought conditions, there is room for further upside, but a pullback could occur if momentum fades. Immediate support is at 1.08600, with resistance around 1.09300, making the next move dependent on whether the bullish trend can be maintained or a correction is imminent.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
07.02.2025

BTCUSD H4 Technical and Fundamental Analysis for 07.03.2025 (https://fxglory.com/2025/07/03/btcusd-h4-technical-and-fundamental-analysis-for-07-03-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Bitcoin (BTC-USD) is showing resilience near its all-time high (ATH) amidst heightened macroeconomic attention. Today’s key USD news releases, including Non-Farm Payrolls, the Unemployment Rate, and Average Hourly Earnings, could introduce volatility for BTCUSD. If these releases indicate strong economic growth, the USD could strengthen, potentially pressuring BTC in the short term. However, persistent inflation and dovish Federal Reserve rhetoric continue to support long-term bullish sentiment toward crypto assets like Bitcoin. Traders are advised to watch closely as today's U.S. labor data could fuel sudden shifts in risk appetite and BTC price momentum.

Price Action:
BTCUSD has approached the $109,000 level for the second time since recording its ATH at $111,970, suggesting strong bullish pressure but also visible resistance. The BTC/USD pair surged above $108,440, only to stall just before testing ATH again. Multiple long wicks near the resistance area reflect seller activity. However, the bullish structure remains intact with a clear higher low formed near $106,000. The repeated failure to breach the $109,000-$111,970 zone indicates a critical decision area. If bulls break this resistance convincingly, a new ATH may follow; otherwise, a pullback toward the lower support zone may occur.

Key Technical Indicators:
Parabolic SAR: The Parabolic SAR dots are currently positioned below the price candles, indicating a continuation of the bullish trend. This aligns with recent upward momentum and supports the possibility of further gains if resistance is broken.
Moving Averages (MA): The short-term MA 9 (blue) has crossed above the longer-term MA 17 (orange), signaling a bullish crossover. Although both moving averages are still below the latest candles, this crossover supports positive momentum. Sustained price above the MAs could signal further upside.
Relative Strength Index (RSI): The RSI stands at 61.41, which is bullish but not yet overbought. This suggests room for further upside before BTCUSD hits exhaustion levels. However, failure to push above 70 may indicate weakening bullish pressure near resistance.
MACD (12,26,9): The MACD line remains above the signal line, and the histogram is slightly positive. This reinforces bullish sentiment, although the gap is narrowing, which could signal a potential slowdown in momentum.
Williams %R: Currently at -16.46, this indicator shows BTCUSD is nearing overbought territory. Although it confirms recent bullishness, it also warns of a possible short-term pullback if buying pressure fades.

Support and Resistance:
Support: The key support zone lies around $106,500 – $107,300, where previous consolidation and moving average support align.
Resistance: Major resistance remains between $109,000 – $111,970, which includes the recent peak and the ATH barrier.

Conclusion and Consideration:
In this H4 BTCUSD technical and fundamental daily analysis, Bitcoin is consolidating just below its ATH after a strong upward move. Price action, combined with bullish signals from MA, Parabolic SAR, RSI, and MACD, supports the bullish outlook—but the cluster of resistance near the ATH demands caution. Today's U.S. labor data could act as a catalyst for a breakout or reversal. Traders should monitor price behavior closely around $109K and adjust positions accordingly. Risk management is essential amid expected USD volatility.

Disclaimer: The analysis provided for BTC/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on BTCUSD. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
07.03.2025

EUR/GBP H4 Technical and Fundamental Analysis for 07.04.2025 (https://fxglory.com/2025/07/04/eur-gbp-h4-technical-and-fundamental-analysis-for-07-04-2025/)

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The EUR/GBP currency pair represents the exchange rate between the Euro and the British Pound. The pair is influenced by economic data and policy decisions from both the Eurozone and the United Kingdom. Today's market activity is expected to be impacted by the release of significant data. For the GBP, the focus will be on the Purchasing Managers' Index (PMI) for the construction sector, as well as updates from the Bank of England regarding economic conditions and monetary policy. Stronger-than-expected data would likely support the British Pound. On the Eurozone side, industrial orders, production data, and retail sales will provide insight into the economic strength of the region. With both currencies seeing key updates, EURGBP could experience volatility depending on the direction these data points take.

Price Action:
The EUR/GBP chart on the H4 timeframe indicates that the price has been on a bullish trend recently, but it is now facing resistance at higher levels, as indicated in the chart. After the bullish movement, the price has encountered a resistance zone, which has prevented it from moving further upward. The last four Parabolic SAR dots have appeared above the candles, signaling a potential change in trend or consolidation. The short-term moving average (blue line) has crossed above the long-term moving average (orange line), but it seems to be turning downward towards the orange line, which might indicate weakening momentum. Despite this, the last two candles are green and positive, suggesting a possible continuation of upward momentum if the price can hold above key levels.

Key Technical Indicators:
Parabolic SAR (Stop and Reverse): The Parabolic SAR dots have shifted above the price candles, which typically signals a potential reversal or a pause in the current trend. This indicator suggests caution, as the bullish momentum may be weakening, and a shift to a consolidation phase or a bearish trend could be approaching.
Moving Averages (MA): The short-term moving average (blue) has crossed above the long-term moving average (orange), indicating a bullish trend. However, the short-term MA appears to be moving downward towards the long-term MA, suggesting that upward momentum may be slowing. The positioning of these two MAs and the fact that the candles are now below the blue line points to a potential pause or correction in the trend.
RSI (Relative Strength Index): The RSI is currently at 55.61, indicating that the market is neither overbought nor oversold. This neutral position suggests that there is still room for the price to move in either direction, and the market is not showing signs of an immediate reversal or exhaustion.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, and the histogram is positive, showing that there is still some bullish momentum. However, the MACD histogram is starting to lose momentum, which could signal a slowdown in the current bullish trend. Traders should monitor the MACD for any potential bearish crossovers in the near future.

Support and Resistance:
Support: The support level is around 0.8580, as indicated by the price action on the chart. If the price drops to this level, it could find support and potentially bounce higher.
Resistance: The resistance level is near 0.8650, which has been an area where the price has faced difficulty breaking above. A failure to breach this resistance could lead to a pullback or consolidation.

Conclusion and Consideration:
The EUR/GBP chart shows a bullish trend, but recent price action suggests that the pair may be struggling to break through key resistance levels. While the Parabolic SAR and moving averages indicate a potential slowdown in the bullish momentum, the green candles suggest that there is still a chance for further upward movement if key support levels hold. However, traders should be cautious due to the weakening momentum in the MACD and the possible resistance at higher levels. With the upcoming news releases from both the UK and the Eurozone, volatility may increase, and it’s crucial to watch the data for any surprises that could shift market sentiment.

Disclaimer: The analysis provided for EUR/GBP is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURGBP. Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
07.04.2025

Bitcoin Forum

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