Daily Market Analytics - Forex

[FXOpen Trader]

EURUSD Technical Analysis – 16th JULY, 2024

EURUSD – Bearish Price Crossover

EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0921 the prices started to decline against the United States dollar.
We can see the formation of Bearish price crossover pattern with Adaptive Moving average AMA20 in the 4-hourly timeframe.
The Parabolic SAR indicator is giving a bearish reversal signal in the 4-hourly timeframe.

The support of the channel is broken in the 15-minutes timeframe.
The Momentum indicator is also back under zero in the 4-hourly timeframe indicating the bearish nature of the market.
We have also seen the prices of EURUSD ranging near a new low record of 1-month.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.
• Euro Bearish Reversal seen below the 1.0921 mark.
• Short-term range appears to be Mildly Bearish.
• EURUSD continues to remain above the 1.0880 levels.
• Average true range ATR is indicating less market volatility.

The next support resistance is located at 1.0876 which is a Pivot Point 1st Support Point.
EURUSD is now trading below just near to its Pivot levels of 1.0889 and is moving into a Mild Bearish channel.

The price of EURUSD remains above its Classic support levels of 1.0878 and is moving towards its next target of 1.0871 which is a 14-3 Day Raw Stochastic at 80%.

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

 

[FXOpen Trader]

GBPUSD Technical Analysis – 16th JULY, 2024

GBPUSD – Bearish Harami Cross

GBPUSD was unable to continue its bullish momentum and after touching a high of 1.2993 the prices started to decline steadily against the United States dollar.
We can see the formation of Bearish Harami Cross pattern in the weekly timeframe.
The prices of GBPUSD are also ranging near horizontal resistance in the monthly timeframe.

We can also see the formation of Black gravestone/ inverted hammer pattern in the weekly timeframe which is also indicative of the bearish trends.
The prices of GBPUSD are moving near resistance of channel in both the daily and weekly timeframes.

GBPUSD is now trading above its 100-hour SMA and above its 200-hour SMA simple moving average.
• Pound Bearish Reversal seen below the 1.2993 mark.
• Short-term range appears to be Mild Bearish.
• GBPUSD continues to remain above the 1.2950 levels.
• Average true range ATR is indicating less market volatility.

GBPUSD is now trading just near to its Pivot levels of 1.2958 and is moving into a Mild Bearish channel.
The price of GBPUSD is above its Classic support levels of 1.2945 and is now moving towards its next target of 1.2955 which is a Pivot Point 1st Support Point.

We are also looking for the breach of the levels of 1.2942 which is a Pivot Point 2nd Support Point.

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

 

[FXOpen Trader]

EURUSD Technical Analysis – 17th JULY, 2024

EURUSD – Moving Average Bullish Crossovers

EURUSD was unable to sustain its bearish momentum and after forming a low of 1.0871 on 16th July the prices started to bounce upwards against the United States dollar.
We can see the formation of Moving Average Bullish Crossovers pattern with the Adaptive Moving Average AMA20 and AMA50 in the 30-minutes timeframe.
The resistance of the channel is broken in the 1-hourly timeframe.

We have also detected the formation of Ichimoku - Bullish crossover: Tenkan & Kijun in the 1-hourly timeframe.
We can see the formation of a Long white line in the 2-hourly timeframe which is indicative of the bullish trend present in the market.
The Aroon indicator is also giving a bullish trend signal in the 4-hourly timeframe.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.
• Euro Bullish Reversal seen above the 1.0871 mark.
• Short-term range appears to be Strongly Bullish.
• EURUSD continues to remain above the 1.0925 levels.
• Average true range ATR is indicating high market volatility.

The next resistance is located at 1.0944 which is a 1-Month High.
EURUSD is now trading just above its Pivot levels of 1.0931 and is moving into a Strong Bullish channel.

The price of EURUSD remains above its Classic support levels of 1.0918 and is moving towards its next target of 1.0954 which is a 14 Day RSI 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

 

[FXOpen Trader]

GBPUSD Technical Analysis – 17th JULY, 2024

GBPUSD – Resistance of the Channel is Broken

GBPUSD was unable to continue its bearish momentum and after touching a low of 1.2941 on 16th July the prices started to bounce upwards against the United States dollar.
We can see that the Resistance of the Channel is Broken in both the 15-minutes and 1-hourly timeframes.
We can see the formation of Bullish Trend Reversal pattern with the Moving Average MA50 in the weekly timeframe.

We can also see the formation of Three White Soldiers pattern in the weekly timeframe which is also indicative of the bullish trends.
The prices of GBPUSD are moving near new high record of 1 months.
GBPUSD is now trading above its 100-hour SMA and above its 200-hour SMA simple moving average.
• Pound Bullish Reversal seen above the 1.2941 mark.
• Short-term range appears to be Strongly Bullish.
• GBPUSD continues to remain above the 1.3030 levels.
• Average true range ATR is indicating high market volatility.

GBPUSD is now trading just above its Pivot levels of 1.3022 and is moving into a Strongly Bullish channel.
The price of GBPUSD is above its Classic support levels of 1.3013 and is now moving towards its next target of 1.3042 which is a 1-Month High.

We are also looking for the breach of the levels of 1.3109 which is a Price 1 Standard Deviation 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

 

[FXOpen Trader]

EURUSD Technical Analysis – 18th JULY, 2024

EURUSD – Bullish Price Crossover

EURUSD entered into a consolidation phase after which we can see it touched a low of 1.0923 on 17th July as the prices continue to rise upwards against the United States dollar.
We can see the formation of Bullish price crossover pattern with the Adaptive Moving Average AMA50 in the 30-minutes timeframe.
We can also see the formation of a Bullish Harami pattern in both the 1 hour and 2-hourly timeframe.
The Parabolic SAR indicator is also giving a Bullish reversal signal in the 1-hourly timeframe. The prices of GBPUSD are ranging near the horizontal support in the 15-minutes timeframe.

We have also detected the formation of Bullish Trend reversal pattern with the Adaptive Moving average AMA20 and AMA100 in the 15-minutes timeframe.
EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.

• Euro Bullish Continuation seen above the 1.0923 mark.
• Short-term range appears to be Mildly Bullish.
• EURUSD continues to remain above the 1.0910 levels.
• Average true range ATR is indicating less market volatility.

The next resistance is located at 1.0927 which is also a Pivot point.
EURUSD is now trading just below its Pivot levels of 1.0929 and is moving into a Mild Bullish channel.

The price of EURUSD remains above its Classic support levels of 1.0916 and is moving towards its next target of 1.0937 which is a 61.8% Retracement from the 52 Week 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

 

[FXOpen Trader]

GBPUSD Technical Analysis – 18th JULY, 2024

GBPUSD – Bullish Price Crossover

GBPUSD continues its bullish correction wave after touching a low of 1.2965 on 17th July as we can see the prices continue to rise upwards against the United States dollar.
We can see the formation of Bullish price crossover pattern with the Adaptive Moving Average AMA20 and AMA50 in the 4-hourly timeframes.
The Resistance of the channel is broken in the weekly timeframe.
The prices of GBPUSD are ranging near the horizontal support in the 1-hourly timeframe.
Some of the technical indicators are also giving a neutral tone present in the markets.
We have seen GBPUSD touching a high of 1.3043 after which we can see some declines as the prices have entered into a consolidation wave at present.

GBPUSD is now trading above its 100-hour SMA and above its 200-hour SMA simple moving average.
• Pound Bullish Continuation seen above the 1.2965 mark.
• Short-term range appears to be Mildly Bullish.
• GBPUSD continues to remain above the 1.2980 levels.
• Average true range ATR is indicating less market volatility.

GBPUSD is now trading just above its Pivot levels of 1.2984 and is moving into a Mildly Bullish channel.
The price of GBPUSD is above its Classic support levels of 1.2961 and is now moving towards its next target of 1.2984 which is a 14 Day RSI at 70%.
We are also looking for the breach of the levels of 1.3044 which is a 1-Month 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

 

[FXOpen Trader]

EURUSD Technical Analysis – 19th JULY, 2024

EURUSD – Aroon Indicator Bearish Trend

EURUSD was unable to continue its bullish momentum and after touching a high of 1.0935 the prices started to decline steadily against the United States dollar.
The Aroon indicator is giving bearish trend formation signal in the 4-hourly timeframe.
The Super Trend indicator is also giving a bearish reversal signal in the 4-hourly timeframe.

The prices of EURUSD are ranging near the resistance of the channel in the weekly timeframe.
The support of the channel is broken in the 1-hourly timeframe.
Some of the technical indicators are also giving a neutral signal which indicates the presence of the consolidation wave in the markets.

EURUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Euro Bearish correction seen below the 1.0935 mark.
• Short-term range appears to be Neutral.
• EURUSD continues to remain above the 1.0880 levels.
• Average true range ATR is indicating less market volatility.

The next support is located at 1.0878 which is a 3-10-16 Day MACD Moving Average Stalls.
EURUSD is now trading just below its Pivot levels of 1.0888 and is moving into a Consolidation channel.

The price of EURUSD remains above its Classic support levels of 1.0878 and is moving towards its next target of 1.0863 which is a Pivot Point 2nd Support Point.

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

 

[FXOpen Trader]

GBPUSD Technical Analysis – 19th JULY, 2024

GBPUSD – Moving Average Bearish Crossovers

GBPUSD was unable to continue its bullish momentum and after touching a high of 1.2995 the prices have started to decline steadily against the United States dollar.
We can see the formation of Moving Average bearish crossovers: MA20 & MA50 in the 2-hourly timeframe.
The prices of EURUSD are ranging near horizontal resistance in the weekly timeframe.

We can also see the formation of Bearish Harami pattern in the weekly timeframe.
We have detected a Black gravestone / inverted hammer in the weekly timeframe.
The prices of GBPUSD are moving near a new low record of 1-month.
GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average.
• Pound Bearish correction seen below the 1.2995 mark.
• Short-term range appears to be Neutral.
• GBPUSD continues to remain above the 1.2920 levels.
• Average true range ATR is indicating less market volatility.

GBPUSD is now trading below its Pivot levels of 1.2940 and is moving into a Consolidation channel.
The price of GBPUSD is below its Classic support levels of 1.2938 and is now moving towards its next target of 1.2918 which is a Pivot Point 1st Support Point.

We are also looking for the breach of the levels of 1.2915 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

 

[FXOpen Trader]

EURUSD Technical Analysis – 22nd JULY, 2024

EURUSD – Parabolic SAR Indicator Bearish Reversal

EURUSD was unable to continue its bullish momentum and after touching a high of 1.0902 today in the Asian trading session the prices started to decline steadily against the United States dollar.
The Parabolic SAR Indicator is giving Bearish Reversal signal in the 30-minutes timeframe.
The Momentum indicator is also back under zero in the 30-minutes timeframe.
The prices of EURUSD are ranging near the horizontal resistance in the 1-hourly timeframe.

We can also see the formation of Bearish price crossover pattern with the Adaptive Moving Average AMA 100 in the 4-hourly timeframe.
The Price of EURUSD is back under the Pivot point in the 4-hourly timeframe.

EURUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving averages.
• Euro Bearish correction seen below the 1.0902 mark.
• Short-term range appears to be Mild Bearish.
• EURUSD continues to remain above the 1.0880 levels.
• Average true range ATR is indicating less market volatility.

The next support is located at 1.0871 which is a Pivot Point 1st Support Point.
EURUSD is now trading just below its Pivot levels of 1.0881 and is moving into a Mild Bearish channel.

The price of EURUSD remains above its Classic support levels of 1.0859 and is moving towards its next target of 1.0858 at which the Price Crosses 40 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

 

[FXOpen Trader]

GBPUSD Technical Analysis – 22nd JULY, 2024

GBPUSD – Bearish Trend Reversal

GBPUSD was unable to continue its bullish momentum and after touching a high of 1.2938 the prices have started to decline steadily against the United States dollar.
We can see the formation of Bearish Trend Reversal pattern with the Moving Average MA100 in the 15-minutes timeframe and Moving Average MA20 in the 30-minutes timeframe.
The prices of EURUSD are ranging near horizontal resistance in the 1-hourly timeframe.
We can also see the formation of Bearish Price crossover pattern with the Adaptive Moving Average AMA20 in the 2-hourly timeframe.
The Momentum indicator is also back under zero in the 2-hourly timeframe.

The prices of GBPUSD are moving near a new low record of 1-month.
GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average.
• Pound Bearish correction seen below the 1.2938 mark.
• Short-term range appears to be Mild Bearish.
• GBPUSD continues to remain above the 1.2910 levels.
• Average true range ATR is indicating less market volatility.

GBPUSD is now trading below its Pivot levels of 1.2930 and is moving into a Mild Bearish channel.
The price of GBPUSD is above its Classic support levels of 1.2899 and is now moving towards its next target of 1.2889 which is the Pivot Point 1st Support Point.

We are also looking for the breach of the levels of 1.2879 which is a 38.2% Retracement From 4 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