Market Insight

28 Sep 2022
Fxdatapanel

GBP/USD Daily Outlook and Trade Signal (Daily)

GBP/USD managed a small recovery on the first day of this week, forming a long-legged Doji at the bottom. Today, the GBPUSD pair is range bound with intraday support levels at 1.0642 and 1.0554. The near-term resistance areas are at 1.0827 and 1.0924. Currently, most of the technical indicators indicate an...

28 Sep 2022
Fxdatapanel

USD/CAD Daily Outlook and Trade Signal (Daily)

The USDCAD pair is currently trading on a multiyear high, which is also a strong resistance area. The intraday support levels are at 1.3649 and 1.3576. The near-term resistance areas are at 1.3786 and 1.3850. Currently, the majority of the technical indicators are presenting an oversold condition.

21 Sep 2022
Fxdatapanel

Dow Jones Mini Forecast (Daily) and Trade Signal

Dow Jones (DJI) seems to be finding support around the current price level. A couple of Dojis have formed at the bottom and yesterday’s closing also suggests a recovery period. The Dow Jones Mini, intraday support levels are at 30426 and 30107. The near-term resistance areas are at 31503 and 31822....

21 Sep 2022
Fxdatapanel

USD/JPY Forecast (Daily) and Trade Signal

USDJPY upwards momentum has slowed down during the week. This week’s intraday closings have formed bearish price patterns that may help bears drag the price lower from the recent peak. The intraday support levels are at 143.13 and 142.53. The near-term resistance levels are 144.12 and 144.51.

20 Sep 2022
Fxdatapanel

EURUSD Forecast (Daily) and Trade Signal

EURUSD upwards momentum is slowly building up as the pair continues trading above the 1.000 mark. The EURUSD pair seems to have developed strong support around 0.9910. Intraday support levels are at 0.9984 and 0.9943 and intraday resistance levels are at 1.0047 and 10069. At the time of writing these lines,...

20 Sep 2022
Fxdatapanel

GBPUSD Forecast and Trade Signal 20-SEP-2022

GBPUSD seems to be recovering from its multi-year low of 1.1350 and is currently trading at 1.1446. The intraday support levels are at 1.1377 and 1.1323. The near-term resistance areas are at 1.1464 and 1.1497. At the moment, bulls need to breach above the 1.1464 resistance area to move any further...

19 Sep 2022
Fxdatapanel

EURGBP Forecast and Trade Signal 19-SEP-2022

EUR/GBP has gained over 400 pips since mid-August. The pair is currently trading at 0.8762 with immediate support levels at 0.8723 and 0.8683. The intraday resistance levels are at 0.8794 and 0.8825. Someone primarily attributed the gains to the weakness in British Pound which is under pressure following UK’s GDP and...

16 Sep 2022
Fxdatapanel

Gold (XAUUSD) Forecast and Trading Idea

Gold dropped more than $40 to settle at $1662.40 yesterday. At the time of writing, Gold is trading at $1660. The intraday support levels of Gold are at $1650.30 and $1636.39. The intraday resistance levels are at $1688.16 and $1712.11. Before yesterday’s drop, Gold traded in a narrow trading range for...

15 Sep 2022
Fxdatapanel

EUR/CAD Forecast and Daily Trading Idea

EURCAD’s slight upwards momentum seems to slow down with the presence of multiple bearish Doji candlesticks around the current price level. The intraday support levels are at 1.3105 and 1.3069. Near-term resistance areas are 1.3186 and 1.3231. The current price of EUR/CAD is below the moving averages, and a strong bearish...

07 Sep 2022
Fxdatapanel

USD/JPY Daily Outlook – Trading Idea – 07-SEP-2022

USD/JPY has been rising for the past two weeks amid a strong US Dollar. At the time of writing, the USD/JPY pair is currently trading around 144.05. The intraday support levels are at 141.00 and 139.21. Near-term resistance areas are at 143.83 and 144.87. The uptrend is presently bullish; however, most...

06 Sep 2022
Fxdatapanel

AUD/USD Outlook and Trade Signal (short-term)

AUD/USD is currently trading sideways following the recent drop from 0.7124. The pair is currently trading at 0.6787 with immediate support levels at 0.6779 and 0.6760. The near-term resistance levels are at 0.6810 and 0.6822. Although the ongoing trend remains bearish, a hammer and Doji patterns at...

05 Sep 2022
Fxdatapanel

EUR/JPY Daily Outlook and Short-Term Trading Idea

EUR/JPY has recovered from its intraday low of 1.3868 and is currently trading at 1.3957 ahead of the US Session. However, despite the recovery, the EURJPY outlook is bearish, and a bearish flag pattern also seems to form around the current price. However, scaling up to the weekly chart indicates bullish...