EURUSD Price Action Targets Key Resistance Levels

The EURUSD forex pair, often referred to as "Fiber," is one of the most traded currency pairs in the forex market, representing the euro against the US dollar. As a barometer for global economic sentiment, it is heavily influenced by macroeconomic indicators and monetary policy decisions from both the European Central Bank (ECB) and the Federal Reserve (Fed).
Today, the market awaits critical economic data that could impact EUR/USD's direction. From the Eurozone, the Consumer Price Index (CPI) data will provide key insights into inflation trends, which could signal potential future policy actions from the ECB. Higher-than-forecast CPI results could strengthen the euro by increasing the likelihood of tighter monetary policy. On the US side, the Chicago PMI and Pending Home Sales reports are set to shed light on business activity and consumer demand. If these reports outperform expectations, they could reinforce the dollar's strength, given its role as a leading indicator of economic health. Traders should prepare for heightened volatility as the interplay between these releases unfolds.

Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
The EURUSD H4 chart displays a bullish price action, as the pair has successfully broken above the lower cloud line of the Ichimoku Kinko Hyo indicator, indicating potential upward momentum. The last two candlesticks are positive, reflecting buyer confidence as the price moves away from the 0.786 Fibonacci retracement level toward the 0.618 level. This upward trajectory is further supported by the Williams %R indicator, which stands at -21.39, nearing overbought territory. This suggests that while the bullish trend is strong, traders should remain cautious of potential resistance at the cloud's upper boundary or near the 0.618 Fibonacci level. The Fiber appears poised to challenge higher levels if the momentum persists, with upcoming economic news likely playing a decisive role.

• 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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GBP/USD Analysis: Cable Declines in Bearish Channel

The GBP/USD forex pair, often nicknamed "Cable" due to its historical connection via the transatlantic telegraph cable, is one of the most actively traded pairs in the forex market. It represents the exchange rate between the British pound sterling (GBP) and the US dollar (USD), two of the world's most influential currencies. Traders closely monitor this pair’s forecast for insights into the economic conditions and monetary policies of the UK and the US.
Today’s GBP/USD news analysis features several critical USD-focused reports, notably the ISM Manufacturing PMI and the ISM Manufacturing Prices Index. Both serve as leading indicators of economic health, inflation trends, and consumer confidence. Positive data exceeding forecasts could strengthen the USD by signaling economic expansion, potentially impacting the GBP/USD prices negatively. Simultaneously, GBP traders are attentive to monetary aggregates and mortgage approval data, revealing consumer confidence and lending conditions. Given these developments, the pair's movement will likely hinge on divergent economic trends and central bank policy trajectories. The Fed's hawkish signals via speakers like Richmond Fed President Thomas Barkin could further influence market sentiment.

Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
The GBP/USD H4 chart reveals a strong downtrend within a well-defined descending channel. The Cable’s price action is consistently testing and respecting the channel boundaries, suggesting further bearish momentum. The Stochastic RSI shows oversold conditions with its oscillator near the lower band, hinting at potential short-term consolidation or a corrective pullback. The MACD histogram indicates a strong GBP/USD bearish bias, with the signal line diverging below the zero level. These indicators collectively support the likelihood of continued bearish pressure unless major support levels, such as 1.2380, hold firm.
For traders, a break below the lower channel boundary might signal further downside to key levels around 1.2300, while a bullish reversal would require a breach of the upper channel and sustained movement above 1.2550.

• 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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USDNZD H4 Technical Analysis Overview

The USDNZD forex pair, affectionately known as the "Kiwi Dollar," represents the exchange rate between the US Dollar and the New Zealand Dollar. Today, USD/NZD is shaped by strong US economic indicators, including an ISM Services PMI rising to 53.5 from 52.1 and a slight decline in JOLTS Job Openings to 7.73M from 7.74M. Additionally, the New Zealand GDT Price Index has decreased by 2.8%, alongside the upcoming US 10-year Bond Auction yielding 4.24%, up from 2.7%. These fundamental factors suggest potential volatility in the USD NZD pair, aligning with broader USD-NZD daily chart technical and fundamental analysis trends that highlight the influence of key economic data on currency movements.

Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
Analyzing the uploaded USDNZD H4 chart, the price line has recently broken below the Ichimoku cloud, a critical signal in USDNZD price action strategies, indicating a possible bearish trend. The MACD indicator reinforces this bearish potential, suggesting that the current bullish phase may be nearing its end. This technical setup, combined with today's fundamental news, underscores a pivotal moment for traders focusing on USD/NZD daily chart technical and fundamental analysis, as similar patterns may impact the broader forex market dynamics.

• 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

Price Action Insights for EURUSD Daily Chart

The EURUSD, commonly referred to as "Fiber," is one of the most traded currency pairs globally, representing the euro against the US dollar. As of today, the market is particularly sensitive to incoming data, including Germany's industrial production figures and the European Central Bank's economic bulletin. On the US side, upcoming speeches by Federal Reserve officials and job cut announcements will also influence the EUR-USD pair. German industrial production and foreign trade data, both due today, are key as they act as leading indicators for Eurozone economic health. Simultaneously, Federal Reserve speeches will shape expectations for US monetary policy. If German data surprises positively or ECB officials adopt a hawkish tone, the euro might gain; however, a more hawkish Federal Reserve could strengthen the dollar, applying downward pressure on EUR/USD.

Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
In the H4 chart, the EUR USD is in a bearish trend, characterized by a descending trendline and bearish candles. However, recent price action shows two bullish candles attempting to break the 0.236 Fibonacci retracement level near 1.0319. The Ichimoku Cloud indicates the price is below the cloud, suggesting resistance, though it appears to be consolidating near the Fibonacci level. The MACD histogram displays increasing bullish momentum, and the MACD lines are converging, hinting at a potential reversal. Still, the overall bearish trend and the strong resistance posed by the Fibonacci retracement level suggest caution for bullish trades.

• 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

Fundamental and Technical Forecast for USDCHF

The USDCHF currency pair, often referred to by its nickname "Swissie," represents the US Dollar against the Swiss Franc. Known for its safe-haven appeal, the Swiss Franc is often influenced by global economic events, while the US Dollar reflects the performance of the largest economy in the world. Today, the US Treasury Monthly Budget release is expected to shed light on the federal government's income versus expenditure trends, which could have significant implications for the USD. On the CHF side, SECO's Consumer Confidence Index will provide insight into Swiss economic optimism, a critical factor driving the Franc's strength. If the US report surprises with a better-than-expected surplus and Swiss consumer confidence lags, USDCHF could see further bullish momentum.

Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
The USDCHF H4 chart analysis reveals that the pair is in a bullish trend, as the price continues to trade above the Ichimoku cloud, suggesting strong support levels. While the price touched the 0 Fibonacci retracement level, it recently retraced slightly, forming three red bearish candles. However, the candles remain above the 0.236 Fibonacci retracement level, which acts as immediate support. The MACD and histogram still signal bullish momentum, but a slight weakening of the MACD histogram suggests potential consolidation or a minor retracement before another bullish attempt. If the price sustains above the Ichimoku cloud and 0.236 Fib level, the bullish trend could resume towards higher Fibonacci levels.

• 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