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Market dynamics remained the same despite the high volatility at the beginning of the week. Although dollar fell in price in the morning, it returned to its previous values by afternoon, largely due to the empty macroeconomic calendar. The second estimate of the 4th quarter US GDP also coincided with the first, which does not stimulate market sentiment.
The stagnation may continue today, as the upcoming jobless claims data will not have any impact on the market. After all, the total number will likely increase by only 12,000, while repeated claims will rise by 3,000.
EUR/USD fell to the level of 1.0800 after a rise in the volume of long positions. This led to a rebound, which almost restored previously lost positions. However, nothing significant happened on the chart.
GBP/USD shows a similar dynamic. Initially, a surge in short positions occurred, followed by a rebound. In this situation, the level 1.2700 serves as resistance, while the level 1.2600 serves as the support.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
On Tuesday, the GBP/USD currency pair also continued its upward movement. While the new decline of the U.S. dollar could be attributed to Jerome Powell's speech—as the only major event
On Tuesday, the EUR/USD currency pair remained flat for the first half of the day and then moved higher in the second half. During the U.S. session, Jerome Powell delivered
Analysis of Monday's Trades 1H Chart of GBP/USD On Monday, the GBP/USD pair exhibited movements nearly identical to those of the EUR/USD pair. This suggests that the US dollar
The GBP/USD currency pair also maintained an upward trajectory throughout Monday. The reasons were identical to those for EUR/USD. The dollar had been rising for three weeks on pure trader
On Monday, the EUR/USD currency pair continued its upward movement, which began last week. There were no local macroeconomic reasons for the euro's rise, but there were plenty of fundamental
Last Friday, only one entry point into the market was formed. Let's look at the 5-minute chart and analyze what happened. In my morning forecast, I highlighted the 1.3442 level
Only one market entry point was formed last Friday. Let's look at the 5-minute chart to see what happened. In my morning forecast, I highlighted the 1.1654 level
Analysis of Friday's Trades 1H Chart of GBP/USD The GBP/USD pair also traded higher on Friday, but this movement had little meaningful impact. The downtrend in the British pound remains
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