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Forex Analysis & Reviews: USD/JPY: trading tips for beginners for European session on April 22

Overview of trading and tips on USD/JPY The tests of the levels I identified in the afternoon did not materialize. The pair managed to recover its losses, and it stayed near the daily high during the US session. I


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Forex Analysis & Reviews: Hot forecast for EUR/USD on July 8, 2024

Although 206,000 new jobs were created outside the agricultural sector, significantly exceeding the forecast of 160,000, the overall content of the US Department of Labor report turned out to be simply appalling. This was mostly due to the downward revision of previous data from 272,000 to 218,000. This means that for three consecutive months, fewer than 250,000 new jobs have been created, which is not even enough to maintain labor market stability. Consequently, the unemployment rate rose from 4.0% to 4.1%. In other words, unemployment has been rising for three consecutive months. This sharply increases the likelihood of interest rate cuts during the upcoming Federal Open Market Committee meeting, which led to the dollar's weakness. The issue lies in the extremely weak data, which were significantly worse than expected. Considering that today's economic calendar is practically empty, the market will be guided by other factors, particularly the dollar's oversold condition. In addition, the results of the early parliamentary elections in France are likely to disappoint the markets. This is not so much due to the defeat of President Macron's party but rather because of the clear victory of parties that the media describe as far-right. From the perspective of leading business publications, which significantly influence the markets, this is a highly negative factor. Thus, the dollar has every chance to recover some of its recent losses.

EUR/USD closed the week above the level of 1.0800, which in terms of technical analysis is a sign that the market sentiment is bullish. On the 4-hour chart, the RSI reached the overbought zone and left. Based on the absence of a complete corrective movement, we can conclude that at this time the market is reassessing long positions on the euro. On the same chart, the Alligator moving averages are headed upwards, which corresponds to the upward cycle. Outlook If we focus solely on the technical analysis, keeping the price above the level of 1.0800 may eventually lead to further growth for the euro, on the basis of which it is possible to test the local high of the medium-term trend. The bearish scenario will come into play in case of a pullback, if the price settles below the level of 1.0800 for at least a 4-hour period. In terms of complex indicator analysis, the short-term period does not have stable indicators since the price is stagnant. In the daily period, the bullish sentiment is still in force.


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Forex Analysis & Reviews: Hot forecast for EUR/USD on July 9, 2024


EUR/USD maintains a bullish bias after settling above the 1.0800 level. As a result, there is an increase in the volume of long positions. This may point to the recovery process in the euro. On the 4-hour chart, the RSI technical indicator is hovering in the upper area of 50/70, which points to the bullish sentiment. On the same chart, the Alligator moving averages are headed upwards, which corresponds to the upward cycle. Outlook If the price settles above the 1.0800 mark, it could climb to the 1.0900 level. The bearish will come into play if the price returns below the 1.0800 level.

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Forex Analysis & Reviews: Technical Analysis of Weekly Price Movement of S&P 500 Index, Thursday July 11 2024.

Even though on the weekly chart the S&P 500 index still appears to be dominated by Buyers, this is indicated and confirmed by the price movement of #SPX which moves harmoniously in an upward channel and the price movement is above the EMA 20 & EMA 50, but with the appearance of deviations between price movements #SPX which makes higher-highs in its price movements while the MACD indicator makes higher-lows on the contrary, so in the next 1 to 2 weeks it has the potential to be corrected and weakened down to level 5322.39, but as long as the weakening correction does not penetrate below level 4946.59, this index will still has the opportunity to strengthen again to level 5919.63.

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Forex Analysis & Reviews: Hot forecast for EUR/USD on July 12, 2024

Inflation in the United States was expected to decrease from 3.3% to 3.1%, which in itself convinced the market of the imminent start of monetary policy easing by the Federal Reserve. However, US consumer inflation eased to 3.0% in June. As a result, the dollar immediately started to lose its positions quite significantly. The market is now convinced of two Fed rate cuts by the end of the year. The first rate cut is expected in September, and the second in December. These forecasts and expectations are quite justified. So, locally, the market is entering a phase where the USD stays lower. Of course, there will be pauses and minor pullbacks along this path. Something similar was observed yesterday, closer to the end of the U.S. trading session. Most likely, the pullback will continue today, and the market will try to settle slightly below current values. After that, the pair could move towards the dollar's decline.

During speculative growth, EUR/USD almost reached the level of 1.0900, and the volume of long positions decreased. As a result, the market experienced a minor pullback, which can be considered a process of regrouping trading forces. On the 4-hour chart, the RSI locally ended up in the overbought zone when it reached the resistance level of 1.0900. On the same chart, the Alligator's MAs are headed upwards, which reflects the quote's movement. Outlook To start a new wave of growth, the price must settle above the 1.0900 level. Otherwise, the current pullback may linger in the market. In terms of complex indicator analysis, a pullback is likely in the short term. Indicators signal an upward cycle in the intraday period.

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Forex Analysis & Reviews: Forecast for EUR/USD on July 15, 2024

EUR/USD By the end of the week, the euro managed to reach the target level of 1.0905, which is the upper boundary of the descending price channel on the weekly timeframe.

The divergence with the Marlin oscillator suggests a reversal, but once again, a gap is interfering. This gap doesn't significantly affect the technical pattern of the reversal because it can be recouped without any noticeable impact. If the price manages to consolidate above 1.0905, the euro will continue to rise to 1.0964 or even higher.

A double divergence has formed on the 4-hour chart. Recouping the gap may not even disrupt the divergence. The first sign of a reversal is when the price moves below the Kijun-sen line (1.0853). This will likely happen no sooner than tomorrow.

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Forex Analysis & Reviews: Hot forecast for EUR/USD on July 16, 2024


During the upward cycle, locally EUR/USD found itself at the values of the beginning of spring, which indicates the prevailing interest in long positions. On the 4-hour chart, the RSI technical indicator is hovering in the upper area of 50/70, which suggests that the euro may rise further. On the same chart, the Alligator's MAs are headed upwards, which reflects the quote's movement. Outlook Keeping the price above the level of 1.0900 may lead to an increase in the volume of long positions. In this scenario, the euro could move towards the resistance level of 1.1000. Otherwise, the area of 1.0900 will act as resistance, which will lead to a temporary stagnation or a pullback. The complex indicator analysis unveiled that in the short-term and intraday periods, indicators are providing an upward signal.


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Forex Analysis & Reviews: Hot forecast for EUR/USD on July 17, 2024


The dollar was steady despite relatively good data on retail sales. In fact, their growth rate in the United States slowed from 2.6% to 2.3%. The thing is that the growth rate was expected to slow down from 2.3% to 2.1%. So in theory, the dollar should have strengthened somewhat. However, the general sentiment on the dollar is quite negative, as investors expect the Federal Reserve to start lowering its interest rate soon. Thus, the retail sales data simply supported the dollar, preventing it from falling further. Apparently, today we expect a repeat of yesterday's scenario. Sentiments about the Fed's monetary policy still weighs on the dollar. It will be supported by the industrial production data, whose growth rate in the United States should accelerate from 0.1% to 0.4%. But the eurozone inflation data as a whole can not be considered, as the final data are published, designed only to confirm the preliminary estimates, the market has already taken into account.

EUR/USD is moving around the resistance level of 1.0900, which indicates that the bullish sentiment is still in force. On the 4-hour chart, the RSI technical indicator is hovering in the upper area of 50/70, which suggests that the euro may rise further. On the same chart, the Alligator's MAs are headed upwards, which reflects the quote's movement. Outlook Based on the absence of a full-scale correction, we can conclude that there's a high volume of long positions on the euro. Rising above the level of 1.0900 may lead to a new round of growth, where buyers will face the psychological level of 1.1000. As an alternative scenario, traders are considering movement along the level of 1.0900. The complex indicator analysis unveiled that in the short-term and intraday periods, indicators are providing an upward signal.



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