ForexInflux
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USDJPY Rebounds from 153.59 and Eyes Further Upside
After a recent corrective pullback from 156.79, the USD/JPY currency pair has shown resilience by rebounding from 153.59. This bounce has propelled the pair to as high as 155.97, indicating potential for further upward movement. Looking ahead, it is likely that the pair will continue to rally in the coming days, with the next target…
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USDCHF Rebounds from Support, Eyes Resistance at 0.9101
The USD/CHF currency pair has recently witnessed a notable rebound after testing the crucial support level at 0.8997. The pair touched a low of 0.8987 before staging a recovery, and it is now facing resistance at the 0.9101 level. If the USD/CHF manages to break out above the 0.9101 resistance, it could potentially trigger further…
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Stoxx Europe 600: What Signs of Investor Exuberance Keep Telling Us
By Elliott Wave International Every day, you read news stories about the state of the economy and the stock market affecting consumer and investor behavior. The story goes something like this: When the economy and financial markets show signs of improvement, consumers start to spend more, and investors buy stocks. But if you’re a student…
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GBPUSD Surges Higher, Eyes 1.2800 Target
The GBP/USD currency pair has recently witnessed a significant bullish move, breaking above the 1.2633 resistance level and rallying as high as 1.2700. This upside momentum suggests that further gains could potentially be in store for the pair in the coming days. The initial resistance for the GBP/USD is currently situated at the 1.2700 level.…
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EURUSD Consolidates Within Rising Channel, Further Upside Potential Intact
The EUR/USD currency pair has recently encountered resistance at the top of the rising price channel on the 4-hour chart, pulling back from 1.0894 level. This rejection has led to a pullback, suggesting that a consolidation phase for the broader uptrend from the 1.0600 low is currently underway. In the near term, another decline towards…
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USDJPY Extends Rally, Eyes Further Upside Potential After Correction
The USD/JPY currency pair has witnessed a significant extension of its upside move, rallying from the 151.86 level to as high as 156.79. However, the subsequent pullback from this high is likely a corrective move within the broader uptrend, suggesting that another rally towards the 158.00 area could be on the cards after the current…
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USDCHF Breaks Key Support, Downside Risks Intensify
The USD/CHF currency pair has witnessed a significant bearish development, breaking below the rising trend line on the daily chart and subsequently breaching the crucial 0.8997 support level. This breakdown suggests that the recent upside move from the 0.8332 low has likely completed at the 0.9223 high. With this bearish signal, further declines in the…
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EURUSD Breaks Resistance, Bullish Momentum Builds
The EUR/USD currency pair has witnessed a significant bullish development, breaking above the resistance of the falling trend line on the 4-hour chart. This breakout has been followed by a move above the 1.0811 resistance level, indicating that the previous downside move from the 1.0981 high has likely completed at the 1.0600 low. As long…
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Gold (XAUUSD) Consolidates in Range, Uptrend Remains Intact
The precious metal Gold, represented by the XAU/USD pair, remains in an uptrend that commenced from the 1810 level. The recent pullback from the 2431 high is likely a consolidation phase within this broader uptrend. Over the next several weeks, the XAU/USD is expected to trade within a range, oscillating between the 2200 and 2431…
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Four Major Economic Events to Watch This Week
a) OPEC is again pushing for production cuts to boost sagging prices. b) China’s trade data for April showed a rebound, which could signal higher oil demand. c) However, high US interest rates and a strong dollar could limit oil’s upside potential. The push-and-pull from these forces makes oil prices one of the top issues…
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AUDUSD Consolidates Within Rising Channel, Upside Potential Remains
The AUD/USD currency pair has recently faced resistance in its attempt to break below the support of the rising price channel on the 4-hour chart. Instead of a decisive breakdown, the pair has been moving sideways, trading within a range between 0.6557 and 0.6646. As long as the price respects the support of this rising…
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GBPUSD Rebounds, Bullish Momentum Building
The GBP/USD currency pair has witnessed a notable rebound after testing the crucial 1.2448 support level. The pair has rallied to the 1.2553 level, and this bounce is likely a resumption of the broader uptrend that commenced from the 1.2299 low. With this development, further gains in the GBP/USD could be on the horizon in…