Market Insight

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...

02 Sep 2022
Fxdatapanel

EUR/CHF Outlook (Daily) and Trading Ideas -02-SEP-2022

EUR/CHF is trading 0.55% higher to 0.9801 after having touched a low of 0.9761 earlier in the Asian session. EUR/CHF has dropped more than 250 pips during the last few weeks, and the ongoing uptick seems to be a small correction phase. The intraday support levels are at 0.9734 and 0.9709....

01 Sep 2022
Fxdatapanel

EUR/CAD Daily Outlook and Trade Signal – 01-SEP-2022

EUR/CAD is currently trading 0.15% higher to 1.3212 ahead of the US session. The pair has gained nearly 300 pips during this week, and the uptrend seems intact. The intraday support levels are at 1.3115 and 1.3028. The near-term resistance zones are at 1.3247 and 1.3292. Today’s...

31 Aug 2022
Fxdatapanel

What are Grid Trade Signals and How to Use?

Grid trading has been around for a while, and many trading strategies are associated with this trading format. In a grid trading format, traders place the trades at different market levels; usually, all trades have a combined stop-loss. Traders frequently book profits at certain levels and continue...

30 Aug 2022
Fxdatapanel

USD/CAD Outlook and Trading Ideas – 30-August-2022

USD/CAD bulls have been unable to move above the 1.3100 resistance area for nearly two weeks. At the time of writing, the pair is currently trading around 1.3011. The 1.2977 is a strong intraday support level, and a breach below this level will likely send the pair further lower towards the...

17 Aug 2022
Fxdatapanel

EUR/USD Flirts around 1.1050 with a bearish outlook – 17-AUG-2022

EUR/USD recovered from the early setback on Thursday after hitting a low of 1.0122. However, the bulls seem unable to build an upwards momentum today, and the pair is once again trading lower around 1.0156. The short-term support levels are at 1.0120 and 1.0089, while the resistance areas are at 1.0203...

12 Aug 2022
Fxdatapanel

Fxdatapanel: GBP/USD Outlook August-12-2022

GBP/USD's slight upwards momentum appears to be fading away. Following July's multi-year low of 1.1759, the pair had entered a small correction phase, leading to a modest recovery towards 1.2200. At the time of writing, the pair is trading around 1.2174. The short-term resistance levels are near 1.2241 and 1.2278. The short-term support levels are near 1.2174 and 1.2144. The current intraday price pattern suggests a strong resistance near the current market levels, and the pair is likely to head towards a lower weekly closing. GBP/USD Daily Technical Snapshot – Short Term The Bollinger Bands and Stochastic are currently neutral....