EUR/USD Price Action Analysis Ahead of Key Events

The EUR/USD forex pair, often referred to by its nickname "Fiber," is the most traded currency pair in the world, representing the exchange rate between the Euro (EUR) and the US Dollar (USD). Today’s fundamental analysis revolves around key upcoming events, including speeches from influential figures like Raphael Bostic of the Federal Reserve and Joachim Nagel of the Deutsche Bundesbank. These events are expected to provide insights into future monetary policies, with hawkish tones likely benefiting their respective currencies. Additionally, US economic data releases on GDP, unemployment claims, and trade balance will be closely monitored by traders for further indications on economic health and potential interest rate adjustments. Such fundamental factors can drive volatility in the EUR USD forex pair, making these announcements critical for intraday trading strategies.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The H4 chart of EURUSD, analyzed with Ichimoku Cloud, RSI, and Fibonacci retracement levels, indicates a consolidation phase after a recent downtrend. The price is currently moving between the 0 and 0.236 Fibonacci retracement levels, suggesting a corrective pullback. Following a touch of the 0.236 level, two bullish candles have emerged, indicating potential upward momentum. This recovery is further supported by the price trading above the Ichimoku Cloud, although it recently touched the upper cloud boundary before rebounding. The Relative Strength Index (RSI) is currently showing a value below 50, signaling a lack of strong bullish momentum. If the price continues to hold above the Ichimoku cloud and breaks above the 0.236 Fibonacci level, a further move upwards could be anticipated, whereas a failure to do so may signal a continuation of the bearish trend.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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NZDUSD Price Action Breaks Key Fibonacci Level

The NZDUSD, commonly referred to as the “Kiwi,” is a major forex pair consisting of the New Zealand Dollar (NZD) and the United States Dollar (USD). As a commodity currency pair, NZD/USD is influenced by global economic trends, commodity prices, and interest rate differentials. The pair is popular among traders for its liquidity and the potential for high volatility, often responding sharply to economic data and geopolitical developments.
Today’s key economic events could significantly impact the NZDUSD pair, particularly any updates related to New Zealand's trade balance, which plays a critical role in the currency's valuation. Positive data from New Zealand could strengthen the Kiwi, while any negative sentiment from the US market could drive the NZD USD forex pair lower. Additionally, any changes in the Federal Reserve’s stance on interest rates could also lead to volatility, as traders assess the future path of monetary policy in the US. Market participants will closely monitor these developments, which could set the tone for short-term price movements in the NZDUSD forex pair.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The H4 chart of NZDUSD displays a clear bearish trend, with 13 out of the last 19 candles being bearish, including the most recent one. The price has moved from the upper Bollinger Band towards the middle band and then to the lower band, where it is currently hovering, indicating strong selling pressure. The expansion of the Bollinger Bands suggests increasing volatility, supporting the downward movement. The price has recently broken below the 0.236 Fibonacci retracement level and is now between the 0.382 Fibonacci level, highlighting a significant retracement from its recent highs. The RSI indicator is trending below 50 and approaching oversold territory, currently around 33.18, suggesting that while the bearish momentum is strong, there might be a potential for a short-term correction or consolidation before continuing its downward trajectory.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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EURUSD H4 RSI and Fibonacci Levels in Focus

EUR/USD forex pair, often referred to as "Fiber," is one of the most traded currency pairs in the Forex market, reflecting the value of the Euro against the U.S. Dollar. This pair is highly influenced by the economic and political events in both the Eurozone and the United States, making it a vital indicator of the global economy's health. Today’s upcoming news includes significant economic reports from both the Eurozone and the U.S., which are expected to impact the direction of EUR/USD price.
From a fundamental perspective, key reports from the Eurozone, such as industrial output, foreign trade balance, and employment data, will be essential to monitor. Better-than-expected results could strengthen the Euro, especially if industrial output and foreign trade data outperform forecasts, indicating robust economic health. On the U.S. side, the upcoming Non-Farm Payrolls (NFP) and unemployment rate data are likely to dictate the market's sentiment toward the U.S. Dollar. A positive NFP figure would indicate a stronger labor market, potentially boosting the Dollar. Additionally, speeches from key Federal Reserve officials, like John Williams and Christopher Waller, may provide clues on future U.S. monetary policy. Any hints of further interest rate hikes could support the Dollar, pressuring the EUR/USD lower.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the technical analysis based on the EUR/USD H4 chart, the pair is showing a clear uptrend, supported by the last three bullish candles. The price is currently moving from the middle Bollinger Band toward the upper band, even touching the upper line. This suggests increasing volatility and a possible continuation of the upward movement. Additionally, the price has moved from the 0.382 Fibonacci retracement level to the 0.236 level and is now hovering near this point, showing potential to rise further toward the 0.0 Fibonacci retracement level. The Bollinger Bands are widening, indicating higher market volatility, while the RSI is gradually climbing, signaling further bullish momentum. If the price breaks the 0.236 Fibonacci level convincingly, the next target could be the 0.0 Fibonacci level around 1.12029, with strong support at the 1.1050 region.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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Bearish Pressure Mounts on EUR/GBP

The EUR/GBP, often referred to as the "Chunnel," represents the exchange rate between the Euro and the British Pound, two of Europe's most widely traded currencies. Currently, this pair is facing bearish pressure as it tests a descending trendline on the H4 chart. MACD signals are weakening, with the histogram declining and the signal line converging near the MACD line. Additionally, the RSI stands at 56.59, showing a neutral position but with a declining bullish slope. The recent price action hints at the potential for a bearish wave if the bullish trendline below the current price of 0.84422 fails to hold.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Upcoming economic data for both the Eurozone and the UK are key factors that could shift the market's predictions. With German Final CPI expected at -0.1% and UK employment data, including the Claimant Count Change and Unemployment Rate, traders should watch closely. A break below the bullish trendline could lead to increased bearish momentum, favoring sellers, while a hold above this level might provide temporary support for the bulls, though technical indicators currently suggest a bearish bias.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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NZDUSD H4 Trading Strategy and Key Zones

The NZD/USD currency pair, often referred to by its nickname "Kiwi," is a popular pair in the forex market, representing the exchange rate between the New Zealand Dollar and the US Dollar. Traders and investors follow it closely due to New Zealand's commodity-based economy and the US Dollar's status as the world's reserve currency. Upcoming economic reports from both countries, including New Zealand's Performance of Manufacturing Index and the US Import Price Index and consumer sentiment from the University of Michigan, will likely influence market movements today.
Fundamentally, traders are paying attention to the US Import Price Index, which could indicate inflationary pressures, and the University of Michigan's consumer sentiment and inflation expectations, which provide insights into consumer spending and inflation outlooks. A higher-than-expected reading for both reports would be bullish for the USD, potentially pushing NZD/USD downward. However, New Zealand's PMI, if it shows expansion, could support the Kiwi, creating mixed signals for the pair. Traders should watch these reports as they will directly impact the pair's short-term direction, especially as inflation data becomes more critical in the context of central bank policies.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Technically, the NZD/USD H4 chart shows a bullish momentum building, as the pair is moving towards the Ichimoku cloud but still trades below it. The last three candles have been bullish, with the price currently sitting around the 0.382 Fibonacci retracement level. If the price can break above this level, there is potential for it to reach the 0.5 or 0.618 Fibonacci levels. The Williams %R indicator shows that the pair may be overbought in the short term, signaling possible resistance ahead. Traders should watch how the price reacts to the 0.382 Fibonacci level as it will dictate the next move upward or a possible retracement.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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USDCAD H4 chart technical overview today

The USDCAD forex pair, often referred to as the "Loonie," is a popular currency pair that represents the exchange rate between the US Dollar (USD) and the Canadian Dollar (CAD). As a commodity-based currency, the Canadian Dollar is closely tied to oil prices, while the US Dollar's strength is influenced by macroeconomic factors. The upcoming CAD news, especially from Statistics Canada and CMHC regarding housing starts and consumer price indexes, is expected to drive volatility, especially since inflation and construction are key economic indicators.
From a fundamental perspective, the Canadian Dollar could strengthen today if housing starts data and inflation reports exceed forecasts, signaling a robust economy. On the USD side, traders will focus on retail sales and manufacturing production figures, which are key to gauging US consumer demand and inflationary pressure. If US data underperforms while Canadian data impresses, this may tilt the USDCAD pair toward further CAD gains.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the USDCAD H4 chart, several technical indicators provide insights. The price has been in a slightly bullish trend, consolidating within the upper half of the Bollinger Bands, indicating upward momentum. The MACD histogram is showing a positive divergence, suggesting slight bullish pressure. The price is currently between the 0.236 and 0 Fibonacci retracement levels, hinting at potential resistance. However, if the bullish candles continue to dominate, a breakout above the 0.236 Fib level could push the pair higher.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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GBPUSD H4 Chart Indicators Outlook and Forecast

The GBPUSD forex pair, often referred to as "Cable," is a major currency pair that represents the British Pound against the US Dollar. This pair is widely traded in the forex market, and its movements are influenced by economic factors from both the UK and the US. Traders keep a close eye on it, especially when significant economic data or central bank announcements are expected.
For today's fundamental outlook on Cable, the upcoming releases from the Bank of England are highly anticipated by traders. The central bank's hawkish stance is expected to positively impact the GBP, especially if the Monetary Policy Committee (MPC) members vote for an interest rate hike or lean toward tightening policies. Insights from the minutes of the MPC meeting and the inflation letter due to CPI fluctuations will provide critical clues about the UK's economic health. On the US side, Treasury International Capital (TIC) flows and Philadelphia Fed Business Outlook Survey may affect the dollar, especially if demand for domestic securities surges, or if manufacturers display confidence in business conditions. Both of these indicators are pivotal for USD valuations in the coming trading sessions.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the Cable’s attached H4 chart, we can see a bullish trend for GBP/USD with a combination of both bearish and bullish candles, but the overall movement shows price appreciation. The Ichimoku Cloud, which acts as a dynamic support and resistance level, confirms the bullish outlook, with the price currently above the cloud. Furthermore, the pair trades between the 0.786 and 1 Fibonacci retracement levels, which signals potential resistance around the upper level. The MACD indicator shows a bullish divergence, with the histogram reflecting increasing buying momentum, suggesting the upward trend could continue. However, traders should remain cautious as minor corrections are still possible.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

Capitalcore

EURUSD Daily Chart Technical Overview and Indicators

The EURUSD forex pair, often referred to by its nickname "Fiber," represents the trading relationship between the Euro and the U.S. Dollar, the two most traded currencies globally. This currency pair is heavily influenced by macroeconomic factors from both the Eurozone and the United States, making it a favorite among traders for its high liquidity and volatility. The upcoming release of Purchasing Managers' Index (PMI) data from the Eurozone today and the economic outlook discussion by key Federal Reserve members in the U.S. are likely to influence market sentiment and drive volatility in the pair.
The upcoming S&P Global PMI data for both manufacturing and services in the Eurozone is critical, as values above 50 indicate expansion, boosting the Euro, while values below 50 suggest contraction, leading to potential weakness. Similarly, speeches from Federal Reserve officials such as Raphael Bostic and Austan Goolsbee could hint at future monetary policy directions, especially if hawkish tones are observed, which would strengthen the U.S. Dollar. If the Euro PMI surprises to the upside, it could help push EUR USD price higher; conversely, stronger-than-expected comments from Fed officials might weigh on the Euro.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the H4 chart of EUR/USD, the pair has been in an upward trend recently, trading within the upper half of the Bollinger Bands. While the price touched the upper band, it has pulled back slightly over the last few candles, with the most recent candle being bearish. The price is currently hovering between the middle and upper Bollinger Bands, indicating that the pair may still maintain its bullish bias as long as it remains above the middle band. Moreover, the price is oscillating between the 0 and 0.236 Fibonacci retracement levels, suggesting a consolidation phase after recent gains.
The MACD indicator shows a weakening bullish momentum, with the histogram declining and the MACD lines appearing close to a potential bearish crossover. This could indicate short-term bearish pressure. However, as long as the price holds above key Fibonacci support levels, particularly around the 0.236 retracement, the bullish outlook might still prevail. Traders should closely monitor a potential breakout or breakdown of these levels to gauge the next significant price movement.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

Capitalcore

USDCHF Bullish Outlook with Strong Economic Data

The USD/CHF currency pair, commonly referred to as the "Swissie," represents the exchange rate between the US Dollar (USD) and the Swiss Franc (CHF). This pair is influenced by global economic events and interest rate differentials between the US and Switzerland. Today’s market focus is on upcoming US economic data releases and Federal Reserve statements, which are expected to impact the USD. With US Federal Reserve Governor Adriana Kugler due to speak about the economic outlook, traders are watching for any signs of hawkish policies that could support the USD. Additionally, key economic indicators like the GDP data and jobless claims are expected to provide a clearer picture of US economic health. If these releases come out stronger than forecast, the USD could see a bullish reaction, lifting USD/CHF higher. Meanwhile, the Swiss National Bank’s previous stance on maintaining strict monetary policies provides ongoing support to CHF, but attention remains on future SNB meetings for potential policy shifts.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the uploaded H4 USD/CHF chart, technical indicators support a bullish outlook. The price has shown a sharp upward trend with five consecutive bullish candles, bouncing from the lower Bollinger Band and approaching the upper band, which aligns slightly above the 0.786 Fibonacci retracement level. The current price lies between the 0.618 and 0.786 Fib levels, indicating that it is testing resistance. Bollinger Bands suggest expanding volatility, while the MACD histogram shows an increasing bullish momentum with the lines crossing into positive territory, signaling potential for further upside. Traders should monitor whether the price breaks above the upper Bollinger Band, which could signal continuation, or if it meets resistance near the 0.786 Fib level.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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