ForexInflux
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EURUSD Faces Key Resistance, Downside Risks Linger
The EUR/USD currency pair is currently facing resistance at the 1.0752 level. A decisive break above this level could potentially trigger further upside momentum, potentially paving the way for a move towards the falling trend line on the 4-hour chart. However, it’s important to note that as long as the falling trend line resistance holds…
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Crude Oil (WTI) Breaks Support, Downside Risks Intensify
The West Texas Intermediate (WTI) crude oil futures contract has witnessed a significant bearish development, breaking below the bottom of the rising price channel on the daily chart. This breakdown suggests that the upside move from the $67.95 level has likely completed at the $87.07 high. With this bearish signal, further declines in WTI could…
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USDJPY Breaks Key Support, Bearish Bias Emerges
The USD/JPY currency pair has recently experienced a significant bearish development, breaking below the rising trend line on the 4-hour chart and the key support level at 153.58. This breakdown suggests that the upside move from the 146.47 level has likely completed at the 160.21 high. With this bearish signal, further declines in the USD/JPY…
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Crude Oil (WTI) at a Crucial Juncture, Eyes $90 Target
The West Texas Intermediate (WTI) crude oil futures contract is currently facing a critical support level, represented by the bottom of a rising price channel on the daily chart. This channel has been a significant guiding force for the recent uptrend, which commenced from the $67.95 level. As long as the price respects the channel’s…
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USDCAD Breaks Out, Targets Previous High of 1.3845
The USD/CAD currency pair has recently witnessed a significant development, breaking above the falling trend line on the 4-hour chart. This upside move from the 1.3631 level has extended as high as 1.3782, indicating that the previous downside move from the 1.3845 high has likely completed at the 1.3631 low. With this bullish breakout, further…
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USD/CHF Extends Rally, Eyes Further Upside Potential
The USD/CHF currency pair has extended its upside move, rallying from the 0.8332 level to as high as 0.9204. This impressive surge has been underpinned by the pair’s ability to sustain its position above a rising trend line on the daily chart. As long as the USD/CHF remains above this critical trend line, the bullish…
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EURUSD Breaks Below Channel, Downside Risks Emerge
The EUR/USD currency pair has broken below the bottom of the rising price channel on the 4-hour chart, suggesting that the upside move from the 1.0600 level has likely completed at the 1.0752 high. This development could potentially pave the way for further declines in the coming days. The next target for the EUR/USD bears…
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An Introduction to the MACD Indicator
The Moving Average Convergence Divergence (MACD) indicator is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. The MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. The result of this calculation is the MACD line. A nine-day EMA of the MACD called the…
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USDCAD Faces Critical Resistance, Potential Bearish Continuation
The USD/CAD currency pair is currently testing the resistance of a falling trend line on the 4-hour chart. This trend line has been acting as a significant barrier, and as long as it holds firm, the recent rise from the 1.3631 level could be viewed as a consolidation phase within the broader downtrend that began…
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AUDUSD Continues to Climb Higher, Eyes 0.6630 Resistance Level
The Australian dollar has extended its upside move against the US dollar, with the AUD/USD currency pair rallying from the 0.6361 level to as high as 0.6586. This bullish momentum shows no signs of abating, and further gains could be in store in the coming days. The next target for the AUD/USD pair lies around…
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GBPUSD Extends Rally, Faces Crucial Resistance Ahead
The British pound has strengthened against the US dollar, with the GBP/USD currency pair extending its upside move from the 1.2299 level to as high as 1.2569. This rally could potentially continue, with the next target being the falling trend line on the 4-hour chart. If the GBP/USD manages to break through this trend line…
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Euro Remains Bullish Against US Dollar, But Faces Key Resistance
The EUR/USD currency pair continues to trade within a rising price channel on the 4-hour chart, suggesting the short-term uptrend from the 1.0600 level remains intact. As long as the price respects the boundaries of this channel, the upside momentum could persist, with the next target area being 1.0800. However, the pair faces a significant…