Print Page - Daily Forex Analysis By FXGlory

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,

To gauge if a broker might be intentionally delaying trades, focus on testing their reliability through direct communication and gathering feedback from other traders. Contact the broker to inquire about their execution policies, technology infrastructure, and how they handle trade executions under various market conditions. Their willingness to discuss these matters transparently can be a strong indicator of their honesty. Additionally, seek out the experiences of other traders with the broker, using trading forums, social media platforms, and professional networks. Consistent reports of unnecessary slippage or delays can signal potential issues. Assess the execution speed and transparency of the broker, noting any discrepancies from what is promised. Comparing execution times and conditions through demo or small live accounts with multiple brokers can also help identify if one is performing significantly worse. Remember, while some slippage is normal, especially in volatile markets, a pattern of disadvantageous executions should raise concerns.

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

Bitcoin Forum

Other => Off-topic => Topic started by: FXGlory Ltd on February 23, 2024, 02:38:52 AM