Forecast for GBP/USD on August 10, 2020
The pound sterling chose the 1.2912 target. Further towards 1.2727.
Hot forecast and trading signals for the GBP/USD pair on August 10. COT report. Buyers retreat, failing to take the 1.3169 level. A chance for bears!
The US dollar began to show signs of life after the release of a good package of statistical information in the United States. But how long did the bulls take time out?
Hot forecast and trading signals for the EUR/USD pair on August 10. COT report. Major players continue to buy euros, but the upward trend is nearing completion
US data on Friday helped the US dollar and technical factors are also on the side of this currency. Are the bears ready to continue building on local success?
Overview of the GBP/USD pair. August 10. The pound is preparing for the publication of the UK GDP. Trump is closing the gap with Biden. Democrats and Republicans continue to negotiate.
The US currency may continue to strengthen and even form a strong trend if the flow of disappointing news from America stops.
Overview of the EUR/USD pair. August 10. The US labor market is recovering, and unemployment is falling. Donald Trump promises everyone a tax break and $ 400 a week in allowances.
However, all these generous proposals of Trump were not approved by either Congress or the Democrats, that is, in fact, they are "empty". Meanwhile, the US economy is starting to recover slowly.
Analysis and trading signals for beginners. How to trade the EUR/USD pair on August 10? Analysis of Friday. Preparation for trading on Monday
Nonfarm Payrolls report provided strong support for the US currency. Now we are waiting for the US dollar to continue growing (fall of the EUR/USD pair).
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Ichimoku cloud indicator analysis of Gold
Gold price ended the week higher making new weekly all time highs and closed above $2,030. Trend remains bullish. The precious metal was under pressure on Friday as most probably profit taking by bulls took place.
Ichimoku cloud indicator analysis of EURUSD
For a consecutive week price managed to move above 1.19 but week closed below 1.18. Trend might still be bullish but the weakness of bulls to recapture 1.19 implies that a deeper pull back might be in store for us for next week.
EUR/USD. "Green" Nonfarms and bad news from Capitol Hill
Data published today on the growth of the US labor market provided support to the dollar. But the growth of the greenback was limited: for a more confident growth, dollar bulls lack the last puzzle, "worth" one trillion dollars.
Comprehensive analysis of movement options for #USDX vs EUR/USD & GBP/USD & USD/JPY (Daily) on August 10, 2020
Are the peaks conquered? Correction? Options for the development of the movement #USDX vs EUR/USD & GBP/USD & USD/JPY (Daily) on August 10, 2020
Financial market to face fluctuations throughout coronavirus crisis
Analysts at Goldman Sachs gave a very mixed forecast regarding the prospects for the S&P 500 index. It all depends on the situation with the coronavirus crisis.
Gold declines after months of rallying up
The price of gold turned to a negative correction this morning, which was caused by an unexpected strengthening of the greenback. However, the precious metal still has the opportunity to be noted for the longest and most rapid rise, which has only been over the past ten years.
Underestimated US economy startles EUR
Despite the resurgence in the coronavirus rates, experts have spotted the green shoots of recovery in the US.
August 7, 2020 : EUR/USD daily technical review and trade recommendations.
Intraday traders should be considering the current breakdown of the depicted short-term uptrend line. A Breakdown below the price level of 1.1650 is going to give a better confirmation for a valid SELL Position. Estimated targets would be located around 1.1550, 1.1500 then 1.1450.
August 7, 2020 : EUR/USD Intraday technical analysis and trade recommendations.
Bullish persistence above 1.1730 will probably favor further bullish advancement towards 1.2075 (161% Fibo Expansion Level) in the intermediate-term.
On the other hand, bearish re-closure below 1.1730 indicates lack of bullish momentum and enhances further bearish decline initially towards 1.1600.
August 7, 2020 : GBP/USD Intraday technical analysis and trade recommendations.
Significant bearish rejection was demonstrated around the price level of 1.3160 in the form of (Bearish Engulfing Candlesticks).
Hence, upcoming bearish reversal should be expected provided that early bearish breakout occurs below 1.2980 (the depicted wedge pattern upper limit).
American stock indices continue their rally while market sentiment in Asia and Europe deteriorates
Yesterday, the US stock market closed in positive territory as all major stock indicators went up. The excitement came after the news that the US authorities were planning to adopt another stimulus package. However, no agreement has been reached on this issue so far.
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We present to you the daily updated section of market analysis prepared by professional analysts of InstaForex Company. Each of the specialists represented in this section, carries out analytical reviews in accordance with his/her vision of the current situation on foreign exchange and other markets. However, the outlooks below are only recommendations and not instructions to any actions; they contain analysis of the current situation on the currency market. In some cases the analysts' opinions to changes in the current market situation can differ, in this way, we recommend you to follow the publications of only one analyst, who in your view most clearly and correctly evaluates the situation on the international Forex market.
