ForexInflux
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AUD/USD Analysis: Inflation Data and Rate Hike Expectations
On Monday, July 29, the Australian Dollar (AUD) saw a slight uptick against the US Dollar (USD), rising 0.02% to 0.6548. This move represents an attempt to recover from Friday’s low of 0.6510. Key Upcoming Event The market’s focus is now on Australia’s Q2 inflation report, scheduled for release on Wednesday. This report is crucial…
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Gold Price Analysis: Navigating Short-Term Fluctuations
Gold has shown price action recently, with support emerging at $2,369 during Monday’s dip and resistance encountered below $2,403 on the upside. This price behavior suggests that gold may maintain its upward trajectory despite short-term fluctuations. Current Market Dynamics The precious metal appears to be in a phase where it’s testing both support and resistance…
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EURUSD Market Analysis: Recent Breakdown and Future Outlook
The EURUSD pair has recently experienced a significant downward move, breaking below the key 1.0825 support level after failing to breach the 1.0870 resistance. This bearish momentum has extended the decline from the previous high of 1.0948, pushing the pair to a new low of 1.0802. Current Technical Picture The pair has now reached the…
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GBPUSD Market Analysis: Navigating the Current Downtrend
The GBPUSD pair has been on a downward trajectory, with the price falling from a high of 1.3044 to a recent low of 1.2806. This decline has been contained within a falling price channel visible on the 4-hour chart, suggesting a consistent bearish momentum. Current Technical Picture The pair remains confined within this descending channel,…
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EURUSD Market Analysis: Breaking Down the Recent Range-Bound Movement
The EURUSD pair has been caught in a sideways trading pattern for several days, oscillating between 1.0825 and 1.0870. This range-bound movement suggests a period of consolidation as traders await a clear directional signal. Current Situation At present, EURUSD is testing a crucial resistance level at 1.0870. This level is key to determining the pair’s…
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USDJPY Market Analysis: Navigating the Current Trend
The USDJPY pair has recently shown signs of life, bouncing off the 151.93 level. This rebound is significant as it coincides with the bottom of the falling price channel visible on the 4-hour chart. What does this mean for traders? Let’s break it down. Short-Term Outlook In the coming days, we can expect to see…
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USD/CHF: Downtrend Continues with Key Levels in Focus
USD/CHF has struggled to break above the falling trend line on the 4-hour chart and has sharply declined from 0.8923. This indicates that the pair remains in a downtrend from the 0.9050 level. Further declines are expected in the coming days, with the next target around the 0.8780 area. Key Support and Resistance Levels Potential…
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EUR/USD: Short-Term Analysis and Key Levels
On Wednesday, EUR/USD found support above 1.0825 and faced resistance below 1.0870. This suggests that after a brief rise, the pair may resume its downward trend. Key Levels to Watch Outlook If EUR/USD encounters resistance below 1.0865 today, it is likely to target the 1.0800 area on the downside. Traders should monitor these key levels…
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USD/JPY: Yen Gains Amid Dollar Weakness and Potential Intervention
The daily chart for USD/JPY reveals that the yen has recently made significant progress, driven by a weaker dollar and potential intervention by Japanese officials. The market was caught off guard by Japan’s sudden large-scale yen purchases following positive news such as lower-than-expected US inflation. This is in stark contrast to previous large-scale yen purchases,…
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GBP/USD Update – What’s Next After Recent Gains?
After a strong two-week rally, the GBP/USD currency pair reached a high of 1.3044 last Wednesday, marking its highest point since late July of last year. However, the pair has since pulled back to around the 1.29 level as the U.S. dollar index rebounded. The recent movements of the pound are primarily influenced by three…
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USD/CHF Update – Will the Upswing Continue?
The USD/CHF currency pair has seen a significant bounce from the 0.8819 level, rising as high as 0.8923. However, it is currently facing resistance from a falling trend line on the 4-hour chart. If the price manages to break above this trend line, we could see further gains, with the next resistance level around 0.8990.…
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USDJPY Technical Analysis: Navigating the Falling Price Channel
The US Dollar/Japanese Yen (USDJPY) pair has been showing some interesting patterns lately. Let’s break down the current situation and potential scenarios based on the 4-hour chart analysis. Current Trend Bearish Scenario As long as the price remains within the channel: Bullish Scenario For a bullish reversal, we’d need to see: Key Levels to Watch…