Daily Market Analytics - Forex

GBPUSD Technical Analysis – 14th JUNE, 2024

GBPUSD – Bearish Trend Reversal
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GBPUSD was unsuccessful in its bullish rebound attempt and after touching a high of 1.2858, the prices continue to decline against the United States Dollar.
The support of the channel is broken in the 1-hourly timeframe.
We can see the formation of Bearish Trend Reversal pattern with the Moving Average MA20 and MA100 in the 4-hourly timeframe.
The Parabolic SAR indicator is giving a bearish reversal signal in the daily timeframe.
The prices of GBPUSD are ranging near the resistance of the triangle in the weekly timeframe.

GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average.
•    Pound Bearish Reversal seen below the 1.2858 mark.
•    Short-term range appears to be Mild Bearish.
•    GBPUSD continues to remain Below the 1.2700 levels.
•    Average true range ATR is indicating high market volatility.

GBPUSD is now trading below its Pivot levels of 1.2707 and is moving into a Mild Bearish channel.
The price of GBPUSD is aiming to cross its Classic support levels of 1.2680 with further progression towards the 1.2662 which is a Pivot Point 3rd Support Point.

We are also looking for the breach of the levels of 1.2646 which is a 38.2% Retracement From 13 Week High.

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

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 14th JUNE, 2024

EURUSD – Moving Average Bearish Crossover pattern

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EURUSD was unable to sustain its bullish rebound from the lower levels and after touching a high of 1.0850 the prices started to decline against the United States Dollar.
We can see the formation of Moving Average Bearish Crossover pattern with the Moving Average MA20 and MA50 in the 2-hourly timeframe.
The Support of the channel is broken in the daily timeframe indicating the bearish tendencies.
The Super Trend indicator is also giving a bearish reversal signal in the daily timeframe.
The RSI indicator and Pivot points are giving a Neutral stance in the 30-minutes timeframe.

The prices of EURUSD are ranging near the horizontal resistance in the 15-minutes timeframe.
Some of the technical indicators are also giving a neutral stance which means that the prices are expected to enter into a consolidation zone.

EURUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
•    Euro Bearish Reversal seen Below the 1.0850 mark.
•    Short-term range appears to be Mildly Bearish.
•    EURUSD continues to remain below the 1.0700 levels.
•    Average true range ATR is indicating high market volatility.

The next support is located at 1.0689 which is a Price 3 Standard Deviations Support.
EURUSD is now trading below its Pivot levels of 1.0697 and is moving into a Mild Bearish channel.

The price of EURUSD remains above its Classic support levels of 1.0683 and is moving towards its next target of 1.0676 which is a 3-10 Day MACD Oscillator Stalls.

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

For in-depth analysis, please check FXOpen Blog

NZDUSD Technical Analysis – 11th JUNE, 2024

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

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

AUDUSD Technical Analysis – 11th JUNE, 2024

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

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 11th JUNE, 2024

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

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 11th JUNE, 2024

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

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

NZDUSD Technical Analysis – 07th JUNE, 2024

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

AUDUSD Technical Analysis – 07th JUNE, 2024


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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 07th JUNE, 2024

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 07th JUNE, 2024

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

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

NZDUSD Technical Analysis – 06th JUNE, 2024

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

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

AUDUSD Technical Analysis – 06th JUNE, 2024

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

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 06th JUNE, 2024

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

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 06th JUNE, 2024

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

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 03rd JUNE, 2024

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

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

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

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

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

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

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 03rd JUNE, 2024

EURUSD – Bullish Trend Reversal

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EURUSD was unable to sustain its bearish momentum and after touching a low of 1.0790 started its bullish correction phase touching a high of 1.0880 today in the European Trading session.
We can see the formation of a Bullish Trend Reversal pattern with the Moving Average MA20 in the 30-minutes timeframe.
Both the Resistance of the channel and triangle is broken in the 30-minutes timeframe.

We can also see the formation of White line without lower shadow in the 15-minutes timeframe which is indicative of the present Bullish trend in the markets.
The Ichimoku price is over the cloud in the 30-minutes timeframe indicating the Bullish momentum of the markets.
The Parabolic SAR indicator is giving a bullish reversal signal in the 1-hourly timeframe.
EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.

•    Euro Bullish Reversal seen above the 1.0790 mark.
•    Short-term range appears to be Mild Bullish.
•    EURUSD continues to remain Above the 1.0870 levels.
•    Average true range ATR is indicating high market volatility.


The next Resistance is located at 1.0895 which is a 1-Months High.

EURUSD is now trading above its Pivot levels of 1.0835 and is moving into a Mild bullish channel. The price of EURUSD remains above its Classic resistance levels of 1.0856 and is moving towards its next target of 1.0917 which is a Pivot Point 2nd Level Resistance.

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

For in-depth analysis, please check FXOpen Blog

The Hang Seng Index Has risen by Over 13% in 2 Weeks

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Analyzing the Hang Seng (HSI) chart, we wrote on January 30th that the price was near an important support level formed by the lower boundary (shown in orange) of a long-term channel, which has been relevant since 1995.

According to Reuters, Goldman Sachs representatives noted in a client note that hedge funds were actively buying Chinese stocks – the period from January 23 to 25 saw the largest capital inflow in 5 years.

As of the beginning of May, price action suggests that hedge fund purchases are justifiable – with the Hang Seng 50 index rising by over 13% in the past two weeks.

This was partly driven by:

• Economic stimulus from Beijing.
  
• The Hong Kong Monetary Authority's (HKMA) decision to keep the base rate unchanged at 5.75%. As reported by the South China Morning Post, HKMA's decisions correlate with the Federal Reserve's policy since 1983, reflecting the local currency's peg to the US dollar.
  

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

GBPUSD Technical Analysis – 02nd MAY, 2024

GBPUSD – Bearish Trend Reversal
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GBPUSD was unable to sustain its Bullish momentum this week and after touching a high of 1.2543 today, it started to decline towards the 1.2500 levels.
We can see the formation of Bearish Trend Reversal pattern with the Moving Average MA50 in the 2-hourly timeframe.
The prices of Pound are back under the Pivot point in the 2-hourly timeframe.

Some of the Technical indicators are giving a Sell signal at the current market levels of 1.2517.
The Support of the channel is broken in the 15-minutes timeframe.

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

• Pound Bearish Reversal seen Below the 1.2543 mark.
  
• Short-term range appears to be Neutral.
  
• GBPUSD continues to remain Below the 1.2520 levels.
  
• Average true range ATR is indicating less market volatility.
  

GBPUSD is now trading just above its Pivot levels of 1.2512 and is moving into a Consolidation channel.
The price of GBPUSD is aiming to cross its Classic Support Levels of 1.2500 after which we can see downwards bearish pressure towards the 1.2488 which is a 14-3 Day Raw Stochastic at 70%.

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

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 02nd MAY, 2024

EURUSD – Bearish Trend Reversal
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EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0727 started its bearish momentum below the 1.0700 levels.
We can see the formation of a Bearish Trend Reversal pattern with the Adaptive Moving Average AMA100 in the 4-hourly timeframe.
We can see that the price of Euro is back under the Pivot point in the Daily timeframe.

Some of the Technical Indicators are also giving a Sell signal below the 1.0710 levels.
Both the Support of the Channel and Triangle is broken in the 15-minutes timeframe.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.

• Euro Bearish Reversal seen Below the 1.0727 mark.
  
• Short-term range appears to be Neutral.
  
• EURUSD continues to remain Below the 1.0720 levels.
  
• Average true range ATR is indicating less market volatility.
  

The next Support is located at 1.0683 which is a 3-10-16 Day MACD Moving Average Stalls.
EURUSD is now trading below its Pivot levels of 1.0702 and is moving into a Mild bearish channel. The price of EURUSD remains above its Classic support levels of 1.0685 and is moving towards its next target of 1.0683.


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

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 16th APR, 2024

GBPUSD – Resistance of Channel is Broken
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GBPUSD opened this week on an uncertain note after which we can see that the prices have started to move towards the consolidation phase.
We can see the resumption of the Uptrend within the Hourly chart of GBPUSD today.
The Resistance of the Channel is Broken in the 15-minutes Timeframe.
The MACD Indicator is back over Zero indicating the Bullish Trend formation in the 30-minutes timeframe.
The prices of GBPUSD are ranging Near the Support of the Channel in the Daily Timeframe.
GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average.

• Pound bullish reversal seen above the 1.2426 mark.
  
• Short-term range appears to be Neutral.
  
• GBPUSD continues to remain above the 1.2440 levels.
  
• Average true range ATR is indicating less market volatility.
  

GBPUSD is now trading below its Pivot levels of 1.2448 and is moving into a Consolidation channel.
The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2460 after which we can see an upwards bullish pressure towards the 1.2483 which is a 14-3 Day Raw Stochastic at 20%.

Disclaimer: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 16th APR, 2024

EURUSD – Bullish Trend Reversal
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EURUSD started this week moving in a zigzag pattern and we can see that the prices entered into a consolidation phase yesterday after which we can see the resumption of the Uptrend.
We can see the formation of a Bullish Trend Reversal pattern with both the Moving Average and the Adaptive Moving averages in the 30-minutes timeframe.
Some of the Technical Indicators are also giving a Neutral stance present into the markets.

We can see that the MACD crosses UP its Moving Average in the 4-hourly timeframe indicating a Bullish Trend present into the markets.
The Resistance of the channel is broken in the 15-minutes timeframe indicating the Bullish tone of the markets.

EURUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.

• Euro bullish reversal seen above the 1.0607 mark.
  
• Short-term range appears to be Neutral.
  
• EURUSD continues to remain above the 1.0620 levels.
  
• Average true range ATR is indicating less market volatility.
  

The next resistance is located at 1.0663 which is a Price 2 Standard Deviations Resistance.
EURUSD is now trading below its Pivot levels of 1.0627 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0601 and is moving towards its next target of 1.0663.

Disclaimer: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 13th MAR, 2024

GBPUSD – Bullish Trend Reversal
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GBPUSD was indecisive today moving in a zigzag pattern after which we can see some fresh bullish confirmations coming into the markets.
The prices of Pound are expected to enter into a consolidation zone after which we can see some upwards correction towards the 1.2838 levels.
We can see the formation of Bullish Trend Reversal pattern with Moving Average MA50 in the 1-hourly timeframe.

We have also detected the formation of Ichimoku - Bullish crossover: Tenkan & Kijun pattern in the 1-hourly timeframe which is a bullish pattern.
The RSI indicator is back over 50 in the 2-hourly timeframe indicating a Bullish tone present in the markets.

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

• Pound bullish reversal seen above the 1.2775 mark.
  
• Short-term range appears to be Neutral.
  
• GBPUSD continues to remain above the 1.2800 levels.
  
• Average true range ATR is indicating high market volatility.
  

GBPUSD is now trading below its Pivot levels of 1.2805 and is moving into a Consolidation channel.
The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2813 after which we can see an upwards bullish pressure towards the 1.2851 levels which is a 3-10 Day MACD Oscillator Stalls.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 13th MAR, 2024

EURUSD – Resistance of Channel is Broken
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 EURUSD continued its bullish momentum today after the consolidation phase and managed to touch a high of 1.0963 in the US trading session after which we can see some consolidation coming into the markets.
We are now looking to re-enter the bullish zone after the current wave of consolidation gets over and touch the 1-months high of 1.0980 soon.
We can see that the resistance of the channel is broken in the 1-hourly timeframe indicating a bullish tone present in the markets.

The Aroon indicator is giving a bullish trend signal in the 4-hourly timeframe.
Some of the technical indicators are also giving a neutral tone indicating the presence of the consolidation wave at present in the markets.
In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0980 which is a 1-months high.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.

• Euro bullish reversal seen above the 1.0920 mark.
  
• Short-term range appears to be Neutral.
  
• EURUSD continues to remain above the 1.0950 levels.
  
• Average true range ATR is indicating high market volatility.
  

The next resistance is located at 1.0975 which is a Price 3 Standard Deviations Resistance.
EURUSD is now trading below its Pivot levels of 1.0957 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0942 and is moving towards its next target of 1.0980.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 12th MAR, 2024

GBPUSD – Moving Average Bullish Crossover
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GBPUSD was unable to sustain its bullish momentum and after touching a high of 1.282 we saw downwards retracement towards the low of 1.2776 formed today in the European trading session.
The prices of Pound are expected to enter into a consolidation zone after which we can see some upwards correction.
The RSI indicator is back over 50 in the 4-hourly timeframe indicating a bullish trend present in the markets.

The prices of GBPUSD are ranging near horizontal support in the 1-hourly timeframe.
We can see the formation of Moving Average bullish crossovers with MA20 and MA50 in the daily timeframe.

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

• Pound bullish reversal seen above the 1.2749 mark.
  
• Short-term range appears to be Neutral.
  
• GBPUSD continues to remain above the 1.2780 levels.
  
• Average true range ATR is indicating less market volatility.
  

GBPUSD is now trading below its Pivot levels of 1.2794 and is moving into a Consolidation channel.
The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2803 after which we can see an upwards bullish pressure towards the 1.2835 levels which is a 14-3 Day Raw Stochastic at 80%.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 12th MAR, 2024

EURUSD – Bullish Price Crossover
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EURUSD continues to move into a consolidation channel having touched a high of 1.0938 after which we can see some minor correction downwards towards a low of 1.0921 levels.
The prices of EURUSD are looking to enter into a bullish channel with the formation of Bullish price crossover pattern in both the 15-minutes and 1-hourly timeframes.
We can see the formation of Parabolic SAR indicator bullish reversal pattern in the 30-minutes timeframe.
The MACD crosses UP its Moving Average in the 15-minutes timeframe.

We have also seen the formation of Bullish Harami pattern in the daily timeframe.
In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0969 which is a 38.2% Retracement From 13 Week High.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.

• Euro bullish reversal seen above the 1.0915 mark.
  
• Short-term range appears to be Neutral.
  
• EURUSD continues to remain above the 1.0900 levels.
  
• Average true range ATR is indicating less market volatility.
  

The next resistance is located at 1.0969 which is a 38.2% Retracement From 13 Week High.
EURUSD is now trading below its Pivot levels of 1.0931 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0928 and is moving towards its next target of 1.0969.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 11th MAR, 2024

GBPUSD – Resistance of Channel is Broken
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GBPUSD was unable to sustain its bullish momentum and after touching a high of 1.2883 we saw downwards retracement towards the low of 1.2795 formed today in the US trading session.
The prices of Pound are expected to enter into a consolidation zone after which we can see some upwards correction.
We can see that the Resistance of the channel is broken in the daily timeframe indicating a bullish trend present in the markets.
We have also seen a bullish opening of the markets this week.

We can see the formation of Bullish trend as the prices of GBPUSD are ranging near horizontal support in both the 15-minutes and 1-hourly timeframes.
GBPUSD is now trading above its 100-hour SMA and its 200-hour SMA simple moving average.

• Pound bullish reversal seen above the 1.2700 mark.
  
• Short-term range appears to be Neutral.
  
• GBPUSD continues to remain above the 1.2800 levels.
  
• Average true range ATR is indicating high market volatility.
  

GBPUSD is now trading below its Pivot levels of 1.2805 and is moving into a Consolidation channel.
The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2830 which is a 14-3 Day Raw Stochastic at 80%.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 11th MAR, 2024

EURUSD – Bullish Trend Reversal
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EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0980 on 8th March we saw downwards retracement towards the lows of 1.0914 seen today in the US trading session.
We can see that the prices of Euro have now stabilized and are looking to enter into a consolidation zone after which we can see some upwards recovery.
We can see the formation of Bullish Trend reversal pattern in both the 15-minutes and weekly timeframes.
The MACD crosses UP its Moving Average in the weekly timeframe.

The prices of EURUSD are ranging near the support of the triangle in the weekly timeframe indicating the bullish nature of the markets.
In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0959 which is a 61.8% Retracement from the 52 Week Low.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.

• Euro bullish reversal seen above the 1.0870 mark.
  
• Short-term range appears to be Neutral.
  
• EURUSD continues to remain above the 1.0900 levels.
  
• Average true range ATR is indicating high market volatility.
  

The next resistance is located at 1.0969 which is a 38.2% Retracement From 13 Week High.
EURUSD is now trading below its Pivot levels of 1.0923 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0917 and is moving towards its next target of 1.0959.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 05th MAR, 2024

GBPUSD – Price is back over the pivot point
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GBPUSD started his week into a consolidation channel after which we can see some downside moves touching a low of 1.2670 today in the Asian trading session.
Now again the prices of Pound have entered into a consolidation wave which is expected to last for around 12 hrs.

We can see that the Price is back over the pivot point in the 4-hourly timeframe indicating a bullish trend present in the markets.
We have also seen a bullish opening of the markets this week.

We can see the formation of Bullish trend reversal pattern with the adaptive moving average AMA20 in the 1-hourly timeframe.

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

• Pound bullish reversal seen above the 1.2600 mark.
  
• Short-term range appears to be Mild Bullish.
  
• GBPUSD continues to remain above the 1.2670 levels.
  
• Average true range ATR is indicating less market volatility.
  

GBPUSD is now trading below its Pivot levels of 1.2682 and is moving into a Bullish channel.
The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2691 and the next target is located at 1.2702 which is a 38.2% Retracement From 13 Week High.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 05th MAR, 2024

EURUSD – Ichimoku: price is over the cloud
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EURUSD started this week on a bullish note and managed to touch a high of 1.0866 after which we can see some market consolidation. We are now looking to Re-enter the bullish channel after the current consolidation phase gets over.
We can see the formation of Bullish Trend reversal pattern with adaptive moving average AMA20 in the 1-hourly timeframe.

We can see that the Ichimoku: price is over the cloud in the 4-hourly timeframe indicating the bullish nature of the markets.
The Williams percent range indicator is back over zero in the weekly timeframe indicating the bullish tone present in the markets with immediate targets of 1.0869.

The prices of EURUSD are ranging near the support of the triangle and channel in the weekly timeframe.
In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0869 which is a 3-10 Day MACD Oscillator Stalls.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages:

• Euro bullish reversal seen above the 1.08004 mark.
  
• Short-term range appears to be Neutral.
  
• EURUSD continues to remain above the 1.0840 levels.
  
• Average true range ATR is indicating less market volatility.
  

The next resistance is located at 1.0917 which is a 50% Retracement From 13 Week High/Low.
EURUSD is now trading below its Pivot levels of 1.0852 and is moving into a Mild Bullish Channel. The price of EURUSD remains above its Classic support levels of 1.0848 and is moving towards its next target of 1.0917.


Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 26th FEB, 2024

GBPUSD – Aroon Indicator Bullish Trend

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GBPUSD started his week into a consolidation channel after which we can see some upside moves touching a high of 1.2698 in the US Trading session.
Now again the prices of Pound have entered into a consolidation wave which is expected to last for around 12 hrs.

We can see the formation of Aroon indicator Bullish Trend in the 2-hourly timeframe.
The prices of GBPUSD are ranging near the support of channel in the 15-minutes timeframe.

We can see the formation of Bullish price crossover pattern with the Moving Average MA50 in the daily timeframe.
GBPUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving average.

• Pound bullish reversal seen above the 1.2657 mark.
  
• Short-term range appears to be Mild Bullish.
  
• GBPUSD continues to remain above the 1.2650 levels.
  
• Average true range ATR is indicating high market volatility.
  

GBPUSD is now trading below its Pivot levels of 1.2674 and is moving into a Bullish channel.
The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2677 and the next target is located at 1.2702 which is a 38.2% Retracement From 13 Week High.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 26th FEB, 2024

EURUSD – Bullish Trend Reversal
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EURUSD started this week moving into a consolidation channel after which we can see a breakout in the form of a bullish momentum touching a high of 1.0859 today in the US Trading session.
We are now looking for some market consolidation as the prices have corrected lower, after which a fresh upside wave is expected towards the 1.0917 which is a 50% Retracement From 13 Week High/Low.

We have seen a Bullish opening of the markets this week.
The Momentum indicator is back over zero in the weekly timeframe indicating the bullish tone present in the markets with immediate targets of 1.0917.

The prices of EURUSD are ranging near the support of the triangle and channel in the weekly timeframe.
In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0897 which is a 1 Months high.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.

• Euro bullish reversal seen above the 1.0814 mark.
  
• Short-term range appears to be Neutral.
  
• EURUSD continues to remain above the 1.0830 levels.
  
• Average true range ATR is indicating high market volatility.
  

The next resistance is located at 1.0917 which is a 50% Retracement From 13 Week High/Low.
EURUSD is now trading below its Pivot levels of 1.0848 and is moving into a Mild Bullish Channel. The price of EURUSD remains above its Classic support levels of 1.0840 and is moving towards its next target of 1.0897.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 22nd FEB, 2024

EURUSD – Resistance of Channel is Broken
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EURUSD had strong bullish momentum today and managed to touch a high of 1.0885 after which we saw downwards retracement towards a low of 1.0802 levels.
We can see that the prices of Euro have now entered into a consolidation channel after which we will be able to see some fresh upside moves.

The resistance of the channel is broken in the daily timeframe.
The Momentum indicator is back over zero in the 4-hourly timeframe indicating the bullish tone present in the markets with immediate targets of 1.0857.

The prices of EURUSD are ranging near the support of the triangle and channel in the weekly timeframe.
In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0857 which is a 14-3 Day Raw Stochastic at 80%.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.

• Euro bullish reversal seen above the 1.0802 mark.
  
• Short-term range appears to be Mild Bullish.
  
• EURUSD continues to remain above the 1.0800 levels.
  
• Average true range ATR is indicating high market volatility.
  

The next resistance is located at 1.0841 which is a 38.2% Retracement From 4 Week High.
EURUSD is now trading below its Pivot levels of 1.0822 and is moving into a Mild Bullish Channel. The price of EURUSD remains above its Classic support levels of 1.0819 and is moving towards its next target of 1.0857.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 22nd FEB, 2024

GBPUSD – Bullish Trend Reversal
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GBPUSD had a strong bullish momentum today when the prices touched a high of 1.2708 after which we saw a downwards retracement in its levels touching a low of 1.2611.
We can see that the prices remained in a consolidation channel after which we can see the resumption of the bullish trend.

We can see the formation of Bullish Trend Reversal pattern with the Adaptive Moving Average AMA20 and AMA50 in the daily timeframe.
The prices of GBPUSD are ranging near the support of triangle in the weekly timeframe.

The price is back over the Pivot point in the weekly timeframe indicating the bullish tone present in the markets with immediate targets of 1.2696.
GBPUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving average.

• Pound bullish reversal seen above the 1.2611 mark.
  
• Short-term range appears to be Mild Bullish.
  
• GBPUSD continues to remain above the 1.2600 levels.
  
• Average true range ATR is indicating high market volatility.
  

GBPUSD is now trading below its Pivot levels of 1.2660 and is moving into a Bullish channel.
The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2664 and the next target is located at 1.2696 which is a 14-3 Day Raw Stochastic at 70%.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 21st FEB, 2024
GBPUSD – Bullish Price Crossover
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GBPUSD had a bullish momentum yesterday when it touched a high of 1.2667 after which we can see some downwards correction coming into the markets.
The prices of GBPUSD have entered into a consolidation channel after which we can see some bullish moves.

We can see the formation of Bullish Price crossover pattern with the Moving Average MA20 and MA100 in the 15-minutes timeframe.
The prices of GBPUSD are ranging near the support of the channel in the 1-hourly timeframe.

We can see the formation of Bullish Trend reversal pattern with the Adaptive Moving Average AMA20 and AMA50 in the 15-minutes timeframe.
GBPUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving average.

• Pound bullish reversal seen above the 1.2602 mark.
  
• Short-term range appears to be Mild Bullish.
  
• GBPUSD continues to remain above the 1.2600 levels.
  
• Average true range ATR is indicating high market volatility.
  

GBPUSD is now trading above its Pivot levels of 1.2617 and is moving into a Bullish channel.
The price of GBPUSD has already crossed its Classic resistance levels of 1.2622 and the next target is located at 1.2645 which is a 14-3 Day Raw Stochastic at 50%.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog