Daily Analysis Forex Mix

[radex78]

The Australian Dollar retreated due to the strengthening US Dollar.

The AUD/USD pair has shown a bearish trend; although both central banks lean towards a hawkish stance, USD demand has been stronger, driven by safe-haven flows. According to the FXOpen chart, AUD/USD formed a bearish candle on September 24, closing at approximately 0.70086, with a high of 0.70451 and a low of 0.70057.

The RBA has maintained the cash rate at 4.35%, but Governor Michele Bullock noted that core inflation risks remain at 3.6%—above the 2–3% target—and the market anticipates a high probability of a rate hike at the September 29 meeting. This factor could limit the AUD's decline.

Australia added approximately 39,500 jobs in August, well above the expected figure of around 20,000. However, the unemployment rate rose from 4.5% to 4.6%, resulting in mixed data. Employment figures and slowing domestic economic growth limit the RBA's room to raise interest rates more aggressively without disrupting economic activity.

As a commodity-proxy currency, the AUD is highly sensitive to price dynamics in iron ore and copper, as well as the outlook for China's economic recovery. The Xi-Trump meeting is a major focus, as developments in US-China trade relations could influence risk sentiment and China's economic outlook. If the meeting boosts optimism regarding global trade, the AUD could receive a boost; conversely, if new tensions arise, the AUD could come under pressure.

The US Dollar continues to draw strength from market expectations that the Fed will keep interest rates higher for longer to curb inflation. The Fed raised rates by 25 basis points to a range of 3.75%–4.00% on September 16 and signaled that further hikes might be necessary, as inflation is not yet fully under control.

US PCE inflation in July stood at 3.7%, well above the Fed's 2% target. Additionally, the USD has received a boost from safe-haven sentiment. High global geopolitical uncertainty is driving global capital flows back into the USD as a safe-haven currency.

From a technical perspective, AUD/USD has crossed below the 200-day EMA, signaling a bearish outlook. However, this does not yet represent a strong fundamental bearish trend, as expectations of RBA interest rate hikes continue to provide a buffer for the AUD. The projected price range for AUD/USD is 0.69700–0.71400. Immediate support is around 0.70000, with the next target at approximately 0.69800. Immediate resistance is around 0.70500, with the next target at approximately 0.71000. This forecast could be wrong.

AUD/USD D1

On the daily chart, AUDUSD is trading outside the lower Bollinger Band. The bands appear to be expanding, indicating bearish sentiment and high volatility.

The MA50 below the middle band shows an upward channel, yet the price trading below this line indicates a downtrend. The MA200 near the lower band shows an upward channel, suggesting bullish sentiment over the longer term.

The TDI indicator's VB High is at 75, and VB Low is at 40; the 35-point spread reflects the daily volatility level.

The Market Base Line is at 58 with a downward channel, meaning bullish weight exceeds bearish weight, though there is potential for a decline.

The RSI Price Line is at 30 with a downward channel, indicating the downtrend is in oversold territory.

The Trade Signal Line is at 40 with a downward channel, indicating a downtrend.

AUDUSD H4

On the 4-hour chart, AUDUSD is trading near the lower Bollinger Band. The bands appear to be expanding, indicating bearish sentiment and high volatility.

The MA50 above the middle band shows a downward channel, and the price trading well below this line indicates a downtrend. The MA200 below the upper band shows a flattening upward channel, suggesting weakening bullish sentiment over the longer term.

The TDI indicator's VB High is at 56, and VB Low is at 20; the 26-point spread reflects the 4-hour volatility level.

The Market Base Line is at 38 with a downward channel, meaning bearish weight exceeds bullish weight.

The RSI Price Line is at 20 with a flat channel, indicating sideways movement within oversold territory.

The Trade Signal Line is at 22 with a flattening downward channel, indicating a fading downtrend.

 

[radex78]

EUR/JPY caught in a tug-of-war between central bank policies

The EUR/JPY cross-pair is exhibiting interesting price dynamics characterized by high volatility. Recently, the pair experienced a sharp decline, forming a long-bodied bearish candle with virtually no wicks. Prices dropped from a high of 180.797 to a low of 178.917, closing at 178.972 on the FXOpen chart.

Fundamental factors remain relatively supportive for the Euro. The ECB raised interest rates by 25 basis points on September 10, bringing the deposit rate to 2.50%. The ECB also raised its inflation projections for 2027 and 2028, noting that inflationary pressures stemming from energy prices remain a significant risk. Major institutions like Goldman Sachs anticipate the deposit rate could reach 2.75%, while BofA also sees the possibility of a 25-basis-point hike in December.

These factors support the Euro by maintaining a substantial interest rate spread against Japan. However, a headwind for the Euro comes from rising energy prices driven by geopolitical conflicts, which are fueling inflation while simultaneously dampening European economic growth.

Regarding the JPY, the Bank of Japan (BoJ) recently raised interest rates to 1.25%—the highest level in approximately 31 years. However, the market does not view this move as fully hawkish, leaving the JPY vulnerable to continued pressure. On the other hand, Japan has signaled the possibility of foreign exchange intervention. There were even earlier reports of "rate checks" by Japanese authorities, a move that typically makes traders cautious about taking aggressive short positions.

Key items on today's economic calendar include the BoJ's Monetary Policy Meeting Minutes and the Corporate Services Price Index. However, a speech by ECB President Lagarde is the primary focus for the Euro. If Lagarde signals further rate hikes, the Euro could receive a boost; conversely, a dovish tone could weigh on the currency. Several Fed officials are also scheduled to speak, meaning USD sentiment or global risk appetite could indirectly impact EURJPY.

Technically, EURJPY is trading below the 200-day EMA; however, the decline has been sharp enough to prompt traders to watch for a potential rebound. The projected range for EURJPY is 178.000–181.000. Immediate support lies around 178.800, with the next target at approximately 178.300. Immediate resistance is around 180.000, with the next target at approximately 180.800. This forecast could be wrong.

EURJPY D1

Traders are awaiting today's market opening. EURJPY is below the lower Bollinger band. The Bollinger bands form a descending channel with wide spacing, indicating bearish sentiment and high volatility.

The MA50, situated between the upper and middle bands, forms a descending channel; the price remaining well below this line indicates a downtrend. The MA200 above the MA50 forms a gently sloping channel, indicating fading long-term bullish sentiment.

The TDI indicator's VB High reads 64, and VB Low reads 23; the 41-point spread reflects the daily volatility level.

The Market Base Line reads 43 with a flat channel, implying that bearish weight outweighs bullish weight.

The RSI Price Line reads 42 with a downward-curving channel, indicating the onset of a downtrend.

The Trade Signal Line reads 41 with a gently rising channel, indicating a fading uptrend.

EURJPY H4

On the 4-hour chart, EURJPY is positioned below the lower Bollinger band. The bands appear to be expanding after a consolidation phase, indicating increased market volatility.

The MA50, located below the middle band, forms a flat channel; the price remaining below this line indicates a downtrend. The MA200, well above the upper band, forms a horizontal channel, indicating sideways movement over a longer timeframe.

The TDI indicator's VB High reads 69, and VB Low reads 40; the 29-point spread reflects 4-hour volatility.

The Market Base Line reads 54 with a descending channel, implying bullish weight outweighs bearish weight, but a decline is possible.

The RSI Price Line reads 33 with a descending channel, indicating a downtrend.

The Trade Signal Line reads 43 with a descending channel, indicating a downtrend.

 

[radex78]

XAUUSD fell approximately 4% to the $4,110 level, a low not seen since August 5.

Gold prices faced significant downward pressure on September 28, dropping sharply by around 4%. Prices fell from a high near $4,279 to a low around $4,110 within a single day. Currently, gold is trading near $4,113 on the FXOpen chart, marked by a long bearish candle.

The primary drivers of this decline were rising US Treasury yields, a strengthening US dollar, and expectations that the Federal Reserve might still raise interest rates.

The 10-year US Treasury yield is hovering in the 4.9%–5.0% range. Following the Fed's 25-basis-point rate hike—bringing the target range to 3.75%–4.00%—the central bank reaffirmed its commitment to curbing inflation. These high interest rates and Treasury yields increase the opportunity cost of holding gold—a non-yielding asset—acting as a major drag on XAUUSD.

According to the CME FedWatch tool, the market currently estimates a roughly 70.3% probability of a Fed rate hike in October. The US Dollar Index (DXY) remains firm above the 100 level. Meanwhile, persistently high global crude oil prices are fueling fears of renewed inflation, reinforcing expectations that the Fed will not loosen policy anytime soon.

Tensions surrounding the Strait of Hormuz and the US-Iran conflict continue to support oil prices. This potential for rising inflation, combined with expectations of high Fed interest rates, has kept gold prices under pressure.

Gold is currently finding support from safe-haven demand driven by geopolitical dynamics in the Middle East and continued accumulation by global central banks, preventing a steeper decline.

Two key US economic data releases relevant to gold are scheduled for today: JOLTS Job Openings and the Conference Board Consumer Confidence index. If the data for both are strong, the USD could rise, potentially causing XAUUSD to turn bearish. Conversely, if the data weakens significantly, expectations for a Fed rate hike would diminish, and XAUUSD could rebound.

However, interestingly, it is not just today that matters. September 30th brings the ADP report, revised US GDP, and PCE/personal income data. Today, traders will be closely monitoring US Treasury yields, the DXY, JOLTS data, US consumer confidence, statements from Fed officials, and oil prices or news regarding the Strait of Hormuz.

From a technical perspective, the price of gold is trading well below the EMA200. The projected range for XAUUSD is between $4,000 and $4,400. Immediate support is around $4,100, with the next target at $4,050. Immediate resistance is around $4,200, with the next resistance target around $4,270. This forecast could be wrong.

XAUUSD D1

The daily gold price is below the lower band. The Bollinger Bands appear to be expanding, indicating increased volatility.

The MA50, below the middle band, traces an upward channel; the price sitting below this line indicates a downtrend. The MA200, above the upper band, traces a slight upward channel, indicating weak bullish sentiment over the longer term.

The TDI indicator's VB High reads 71 and the VB Low reads 36; the 35-point difference reflects the daily volatility level.

The Market Base Line reads 54 with a downward channel, implying that bearish weight outweighs bullish weight and there is potential for a decline.

The RSI Price Line reads 38 with a downward channel, indicating a downtrend.

The Trade Signal Line reads 44 with a downward-curving channel, indicating a downtrend.

XAUUSD H4

On the four-hour chart, the gold price is below the lower band. The Bollinger Bands appear to be expanding and tracing a downward channel, indicating bearish sentiment and high volatility.

The MA50, between the middle and upper bands, traces a downward channel; the price sitting well below this line indicates a downtrend. The MA200, above the upper band, traces a flat upward channel, indicating sideways movement over the longer term.

The TDI indicator's VB High reads 55 and the VB Low reads 25; the 30-point difference reflects the four-hour volatility level.

The Market Base Line reads 40 with a downward channel, implying that bearish weight outweighs bullish weight.

The RSI Price Line reads 21 with a downward channel, indicating a downtrend within oversold territory.

The Trade Signal Line reads 26 with a downward channel, indicating a downtrend.

 

[radex78]

Oil prices fall as Middle East oil flows recover

XTIUSD (WTI crude oil) is experiencing interesting fundamental dynamics today, causing the price to drop by approximately 3.5% in a single day. According to FXOpen charts, WTI has fallen to around $87.95 from a high of $93.30.

This price decline in XTIUSD is primarily driven by the recovery of oil export flows from the Middle East. Oil exports from Middle Eastern producers rose to 16.328 million barrels per day in September—the highest level since the onset of the US-Israel-Iran conflict. Flows through the Strait of Hormuz have also improved; Saudi Arabia has ramped up flows through the East-West Pipeline, and shipments from Yanbu have resumed.

If the export recovery continues, oil prices could extend their decline. However, should new disruptions occur in the Strait of Hormuz or military tensions escalate, prices could rebound rapidly. Despite the sharp recent drop, WTI has still recorded a monthly gain of approximately 4%.

OPEC+ is supporting prices by maintaining September production levels into October. The next meeting is scheduled for October 4, 2026. This means the market will not see a significant supply boost from OPEC+ for October, which is helping to curb the decline in XTIUSD.

The latest EIA data shows US commercial crude stocks at approximately 426.4 million barrels as of September 18, up from 423.4 million barrels the previous week. The EIA also projects that global inventories will continue to decline through the end of 2026, keeping oil prices relatively high. A crucial event today is the release of the EIA Crude Oil Inventories report, scheduled for September 30 at 14:30 UTC; previous data showed an inventory increase of 2.969 million barrels. The US also announced an offer to loan up to 40 million barrels from the Strategic Petroleum Reserve (SPR), which currently stands below 284 million barrels—the lowest level since 1982. In the short term, this additional oil supply limits price increases, although the depleted state of the SPR itself constrains the US's ability to respond to future supply disruptions.

Today, the market will also face several US economic data releases—such as ADP Employment, GDP, personal income/spending, and PCE—that could influence the USD. If the USD strengthens, downward pressure on oil prices may increase; conversely, if it weakens, it could provide room for oil prices to rise. The Federal Reserve's policy stance following the interest rate hike is also a key focus for the market.

Technically, XTIUSD remains above the EMA50, which may act as dynamic support. The projected price range for XTIUSD is $86.50–$95.00. Immediate support is around $87.00, with the next target at approximately $86.50. Immediate resistance is around $93.00, with the next target at approximately $95.00. This forecast could be wrong.

XTIUSD D1

Daily XTIUSD movement is near the lower band. The Bollinger Bands appear somewhat contracted and flat, indicating sideways movement with slightly reduced volatility.

The MA50, above the lower band, traces a gently sloping upward channel; the price remaining above this line suggests the uptrend may not yet be over. The MA200, below the lower band, traces an upward channel, indicating bullish sentiment over the longer term.

The TDI indicator's VB High reads 71 , and VB Low reads 45; the 26-point spread reflects the daily volatility level.

The Market Base Line reads 58 with a flat trajectory, implying that bullish weight exceeds bearish weight.

The RSI Price Line reads 47 with a downward trajectory, indicating a downtrend.

The Trade Signal Line reads 50 with a downward trajectory, indicating a downtrend.

XTIUSD H4

On the four-hour chart, WTI has crossed below the MA200 and moved outside the lower band. The Bollinger Bands appear to be expanding, with the bands widening away from each other, indicating increased volatility.

The MA50, above the middle band, traces a downward channel; the price being well below this line indicates a strong downtrend. The MA200, near the lower band, traces an upward channel, indicating bullish sentiment over the longer term.

The TDI indicator's VB High reads 58, and VB Low reads 30; the 28-point spread reflects the four-hour volatility level.

The Market Base Line reads 44 with a flat trajectory, implying that bearish weight exceeds bullish weight.

The RSI Price Line reads 35 with a downward trajectory, indicating a downtrend.

 

[radex78]

AUD/USD Caught Between Hawkish RBA and Fed Policies

AUD/USD price action on Wednesday showed a decline, forming a long-bodied bearish candle. This reflects a sharp strengthening of the US dollar against the Australian dollar. The price dropped from a high of 0.69948 to a low of 0.69424. Currently, the price hovers around 0.69440 on the FXOpen chart amidst high volatility.

AUD/USD movements are intriguing as the pair is driven by two opposing forces. The RBA is highly hawkish, yet the USD also draws support from Federal Reserve policies and US Treasury yields.

On September 29, 2026, the RBA raised the cash rate by 25 basis points to 4.60%. Governor Michele Bullock stated that inflation remains too high, domestic capacity pressures persist, and rising energy prices due to the Middle East conflict are adding to inflation risks. This implies the market still has grounds to maintain expectations for higher Australian interest rates for a longer period.

However, there is a downside: Australian unemployment rose to 4.6% from 4.4%. Consequently, while the AUD is supported by high RBA interest rates, its upside is capped by the risk of an economic slowdown.

Factors supporting the USD have become slightly less bullish. PCE data released on September 30 delivered a relatively dovish surprise: monthly PCE rose 0.3% (versus an expected 0.4%), and annual Core PCE stood at 3.0%. Markets have scaled back expectations for an October rate hike; according to the FedWatch tool, the probability of a hike stands at just 37.1%.

Fundamentally, this is positive for AUD/USD, as reduced pressure on the Fed to raise rates diminishes the USD's advantage. Nevertheless, with the Fed's rate range at 3.75%–4.00%, the market still anticipates a potential hike in late 2026, and relatively high US Treasury yields continue to drive capital inflows into the USD. Tensions in the Middle East continue to weigh on the market, fueling concerns about global inflation and maintaining demand for the USD as a safe-haven asset.

As a commodity currency, the AUD is also influenced by the economy of China, Australia's trading partner. China's manufacturing PMI rose to 50.1 in September from 49.1, returning to expansion territory. This has bolstered sentiment toward the AUD. However, China's recovery remains uneven, particularly as consumption, investment, and the property sector remain areas of concern.

Technically, the AUD/USD pair is trading below the 200-day EMA. However, the decline has been sharp, and the RSI is in oversold territory, suggesting potential for a rebound. The projected price range for AUD/USD is 0.69000–0.70150. Immediate support is around 0.69300, with the next target at 0.69000. Immediate resistance is around 0.69950, with the next target at 0.70400. This forecast could be wrong.

AUD/USD D1

Daily AUDUSD movement is near the lower band. The Bollinger Bands are widening, indicating increased market volatility.

The MA50, below the middle band, traces a gently rising channel; the price is well below this line, indicating a downtrend. The MA200, also below the middle band, traces a slightly rising channel, indicating weak bullish sentiment over the longer term.

The TDI indicator's VB High reads 78 and the VB Low reads 29. The 49-point spread reflects the daily volatility level.

The Market Base Line reads 53 with a downward slope, meaning bullish weight exceeds bearish weight, yet there is potential for a decline.

The RSI Price Line reads 25 with a downward slope, indicating the downtrend is in oversold territory.

The Trade Signal Line reads 29 with a downward slope, indicating a downtrend.

AUDUSD H4

Four-hour AUDUSD movement is near the lower band. The Bollinger Bands trace a downward channel with widening spacing, indicating bearish sentiment and increased market volatility.

The MA50, near the upper band, traces a downward channel; the price is well below this line, indicating a downtrend. The MA200, far above the upper band, traces a flat channel, indicating sideways movement over the longer term.

The TDI indicator's VB High reads 39 and the VB Low reads 19. The 20-point spread reflects the four-hour volatility level.

The Market Base Line reads 29 with a downward slope, meaning bearish weight exceeds bullish weight.

The RSI Price Line reads 26 with a flat downward slope, indicating the downtrend is weakening at oversold levels.

The Trade Signal Line reads 30 with a flat slope, indicating sideways movement.

 

[radex78]

NZD/USD under bearish pressure ahead of US NFP

The NZD/USD commodity pair remains bearish in early October. Markets may experience high volatility today due to the release of the US September employment report (Non-Farm Payrolls/NFP) at 08:30 ET. NZD/USD is currently trading around the 0.56048 level, following a drop marked by a long-bodied bearish candle that fell from 0.56398 to a low of 0.55933, according to FXOpen charts. This bearish trend began on August 25, 2026, from a high of 0.59879.

New Zealand dollar fundamentals: The RBNZ remains relatively hawkish. New Zealand's central bank raised interest rates by 25 basis points to 2.75% on September 2 as annual inflation rose to 4.1%. However, the RBNZ also assessed that core inflation and inflation expectations remain consistent with a return to the 1–3% target range. The next meeting is scheduled for October 28. Theoretically, this provides support for the NZD; the market had even raised expectations for the next Official Cash Rate (OCR) hike toward 3%. However, this positive effect has been tempered by weak domestic economic conditions and, primarily, by rising US yields.

Weak New Zealand business sentiment: Business sentiment in New Zealand has softened due to input inflation pressures and high energy costs, limiting the scope for NZD (Kiwi) appreciation.

The USD factor is crucial: The US recently reported an ISM Manufacturing reading of 54.5 for September—remaining above the 50 mark, which indicates expansion. However, the input price index surged to 77.9, meaning US inflationary pressure remains a concern for the Federal Reserve.

Markets are awaiting the release of US employment data (NFP), with projections pointing to 90,000 new jobs and an unemployment rate of 4.1%. If the data release exceeds expectations, it will reinforce the signal that the US economy remains robust, providing a positive boost to the DXY.

US Treasury yields continue to climb due to concerns over persistently high inflation. This attracts capital inflows into US Dollar-denominated assets, supporting the USD's strength. Geopolitical tensions and high oil prices are driving risk aversion. Traders tend to offload risk assets like the NZD in favor of the safe-haven US Dollar.

From a technical perspective, NZD/USD is currently trading well below the 200-day EMA, though the RSI indicates oversold conditions. The projected price range for NZD/USD is 0.55600–0.56400. Immediate support lies near 0.55740, with the next target around 0.55500. Immediate resistance is near 0.56250, with the next target around 0.56800. This forecast could be wrong.

NZD/USD D1

The Kiwi's daily movement is near the lower band. The Bollinger Bands form a downward-sloping channel with wide band spacing, indicating bearish sentiment and high volatility.

The MA50, between the middle and upper bands, forms a downward-curving channel; the price trading well below this line indicates a downtrend. The MA200 sits above the MA50, forming a flat channel, which indicates sideways movement over the longer term.

The TDI indicator's VB High reads 67, and the VB Low reads 16; the 51-point spread reflects the daily volatility level.

The Market Base Line reads 42 within a downward-sloping channel, meaning bearish weight exceeds bullish weight.

The RSI Price Line reads 21 within a downward-sloping channel, indicating the downtrend is at an oversold level.

The Trade Signal Line reads 24 within a downward-sloping channel, indicating a downtrend.

NZDUSD H4

The NZDUSD's four-hour movement is near the lower band. The Bollinger Bands form a downward-sloping channel with moderately wide band spacing, indicating bearish sentiment and relatively high volatility.

The MA50, below the upper band, forms a downward-sloping channel; the price trading below this line indicates a downtrend. The MA200 sits well above the price, indicating bearish sentiment over the longer term.

The TDI indicator's VB High reads 45, and the VB Low reads 27; the 18-point spread reflects the four-hour volatility level.

The Market Base Line reads 36 within a flat channel, meaning bearish weight exceeds bullish weight.

The RSI Price Line reads 32 within an upward-curving channel, indicating the downtrend is fading and attempting to rise.

The Trade Signal Line reads 31 within a gently sloping downward channel, indicating the downtrend is weakening slightly.

 

[radex78]

GBPJPY outlook is neutral with a slightly bullish bias.

Price action for GBPJPY on October 2nd showed dynamics leaning from neutral to slightly bullish. The price formed a bullish candle with a long lower wick—recording a low of 207.712, a high of 209.103, and a close of 208.950 on the FXOpen chart.

GBP fundamentals remain reasonably supportive. The Bank of England (BoE) is currently maintaining its bank rate at 3.75%, while UK inflation stands at 3.1%, implying limited room for aggressive rate cuts. However, there is a downside for the GBP: UK business activity is slowing. The September Services PMI came in at 51.7—down from 52.5 and marking a three-month low. Speculative positioning on the GBP is also quite bearish; CFTC data showed a non-commercial net position of approximately -91.1 thousand contracts as of October 2nd.

Meanwhile, JPY fundamentals are beginning to gain support. The Bank of Japan (BoJ) raised interest rates to 1.25%, a 31-year high. Recent Tankan data also showed Japanese manufacturing sentiment improving to +24, while corporate inflation expectations remain elevated. These conditions keep the possibility of a further BoJ rate hike on the table.

Additionally, the 10-year JGB yield is hovering around 3.10%, significantly higher than previous levels. Rising Japanese yields could enhance the JPY's appeal. Thus, while the carry trade still favors GBPJPY, the GBP's advantage diminishes as the market grows increasingly convinced that the BoJ will raise rates again.

Currently, GBPJPY is trading in the 207–210 range; concerns regarding the Japanese Ministry of Finance's vigilance over rapid Yen depreciation could trigger profit-taking at any moment.

Today, the UK market will focus on the September Services PMI and Composite PMI. Preliminary "flash" data indicated a Services PMI of 51.7, so a stronger final figure could provide a boost to the GBP. For Japan, attention now shifts to the 10-year JGB auction on October 6. The yield at the previous auction reached 2.995%, so the outcome of the upcoming auction could influence expectations regarding the JPY and the BoJ.

From a technical perspective, GBPJPY is trading below the 200-day EMA, with the RSI at the 42 level. The projected price range for GBPJPY is 208.000–210.000. Immediate support is around 208.20, with the next target at 207.50. Immediate resistance is around 209.400, with the next target at 210.000. This forecast could be wrong.

GBPJPY D1

The daily GBPJPY movement is currently near the middle band. The Bollinger Bands appear flat and are contracting, indicating sideways movement and declining volatility.

The MA50 sits above the upper band, tracing a downward channel; the price remaining well below this line indicates a downtrend. The MA200 sits above the MA50, tracing a slight upward channel, which indicates bullish sentiment over the longer term.

The TDI indicator's VB High reads 59 and the VB Low reads 22; the 37-point difference reflects the daily volatility level.

The Market Base Line reads 40 with a downward channel, meaning bearish weight exceeds bullish weight.

The RSI Price Line reads 41 with a flat channel, indicating sideways movement.

The Trade Signal Line reads 39 with a flat channel, indicating sideways movement.

GBPJPY H4

The H4 GBPJPY movement is currently near the middle band. The Bollinger Bands trace a flat channel with relatively wide spacing, indicating range-bound movement and moderately high volatility.

The MA50 sits above the middle band, tracing a slight downward channel; the price remaining below this line indicates a downtrend. The MA200 sits well above the upper band, tracing a downward channel, which indicates bearish sentiment over the longer term.

The TDI indicator's VB High reads 57 and the VB Low reads 30; the difference of 27 reflects the volatility of the four-hour movement.

The Market Base Line reads 44 with a flat channel, meaning bearish weight exceeds bullish weight.

The RSI Price Line reads 51 with a channel curving downward, indicating the onset of a downtrend.

The Trade Signal Line reads 47 with a flat channel, indicating sideways movement.