AUDUSD Analysis – May 7, 2023
The Australian dollar has been in a long-term downtrend against the US dollar since reaching a high of 0.8006 in Feb 2021. The price action from the low of 0.6170 is likely a consolidation for the downtrend,...
Author: ForexCycle.com
GBPUSD Analysis – May 7, 2023
GBP/USD remains in an uptrend above a rising trend line on the weekly chart. As long as this trend line support holds, the pair is likely to continue its upward movement towards the next target of 1.3100....
EURUSD Analysis – May 7, 2023
EURUSD has been on a steady uptrend since Sep 2022, and it continues to stay above the rising trend line on the weekly chart. A sustained move above this trend line support suggests that the upside momentum...
Your Bank: “Use This as an Early Warning Signal”
By Elliott Wave International More dramatic news on the banking front. On April 25, investors in the shares of First Republic Bank were hit hard (The New York Times): First Republic Bank Enters New Free Fall as...
USDCAD Analysis – May 5, 2023
The USDCAD pair extended its downside movement on Wednesday, as it broke below a key support level at 1.3527. The pair had been trading in a narrow range over the past few sessions, but the break below...
USDJPY Analysis – May 5, 2023
The USD/JPY currency pair has broken below the rising trend line on the 4-hour chart, indicating that the uptrend from the low of 129.63 has ended at the high of 137.77. This could signal a further decline...
AUDUSD Analysis – May 5, 2023
The AUD/USD currency pair has been showing signs of bullishness lately, as it recently broke above the resistance level at 0.6716, signaling a resumption of the uptrend from 0.6573. The pair is now trading at its highest...
GBPUSD Analysis – May 5, 2023
The GBP/USD pair has been in an uptrend since hitting a low of 1.1802 in March. Recently, the pair has broken above a key resistance level at 1.2583, indicating that the uptrend has resumed. With the resistance...
EURUSD Analysis – May 5, 2023
The EURUSD pair attempted to break above the key resistance level at 1.1095 but failed to do so and has since remained in a sideways movement within a trading range of 1.0909 to 1.1095. It is expected...
USDCAD Analysis – May 4, 2023
Recently, the USDCAD pair has been consolidating in a range between 1.3527 and 1.3667. The resistance level at 1.3667 is key for the next move in the pair. A break above this level could signal the resumption...