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USDSGD

FxNews - The USDSGD bounced from the November low (1.3489) and currently, the bulls are testing the 1.3607 resistance. The RSI indicator is nearing the level of 50. The market outlook for the USDSGD is bullish. However, to gain a better insight into the USDSGD price action and trigger points, we zoom into the 4-hour chart.



There is no sign of bear intervention in the 4H chart in terms of the candlestick pattern. Given the current situation, it is likely for the bulls to break the 1.3707 and aim for the 1.376 area as their next target.

[HubuFX]

EURCNH Forecast

The EURCNH pair has recently broken out of its bearish channel, as seen on the daily chart. Currently, it’s testing the 7.841 resistance level, which aligns with the upper band of the bullish channel and the Ichimoku cloud. The overall trend for EURCNH is bullish, with the RSI indicator consistently above the 50 level. Therefore, analysts at FxNews suggest that this could be a good time to look for opportunities to place buy orders.



For a more detailed view of the EURCNH price action, we turn to the 4-hour chart. Here, the RSI is nearing the overbought zone and showing divergence, signaling a potential price correction or trend reversal. Based on these chart data, there’s a possibility that the price might fall to the middle line of the bullish channel, followed by S1. Both these levels could offer attractive prices for going long on EURCNH.



Remember, it’s essential to keep an eye on these key levels and indicators to make informed trading decisions. Stay tuned for more updates and analysis on the EURCNH pair.

Please note that this is just a EURCNH forecast and actual market conditions may vary. Always trade responsibly.

[HubuFX]

USDCAD Analysis: Technical View

The USDCAD is currently trading above a crucial broker resistance zone, spanning from 1.3655 to 1.3648. This zone serves as a strong support for the bullish trend. As long as the price remains above this level, we can expect the USDCAD bulls to push higher and challenge the next resistance zone, which lies between 1.3877 and 1.3976.



Conversely, if the bears manage to push the price below 1.3655, and if the RSI indicator dips below the 50 level, it could signal a bearish turn. In this case, the USDCAD might aim for the 1.355 pivot point.

[HubuFX]

GBPUSD Analysis

The GBPUSD is currently trading below the pivot point of 1.219. Interestingly, the RSI indicator is flipping above the critical level of 50, which might indicate an upcoming bullish wave. However, for this to materialize, it's crucial for the bulls to close above the pivot point, as this would pave the way towards the next resistance level at 1.228.

[HubuFX]

EURUSD Technical Analysis

The EURUSD currency pair is currently navigating within a downward channel and is positioned below the pivot in the 4-hour time frame. A minor resistance level is observed at 1.049, and at present, the pair is maintaining a position above this level. The RSI indicator has surged above the 50 mark, suggesting the potential onset of a bullish wave. Given the prevailing market conditions and the dominant bearish trend, our recommendation is to wait for the EURUSD to hit either the pivot or the 1.066 resistance level before initiating sell orders.



Please note that this bearish outlook will be invalidated if the EURUSD bulls manage to push the currency pair out of the downward channel.

[HubuFX]

AUDUSD Technical Analysis

The decline of the AUDUSD currency pair has temporarily halted as the RSI indicator, previously in the oversold territory, is now hovering at the 37 level. The market maintains a bearish trend, and the support level at 0.634 presents an attractive price point for bears to intensify their selling pressure.

[HubuFX]

Turkish Lira Weakens Against Strong US Dollar

The Turkish lira is falling against the strong US dollar. The USDTRY is up 0.4% as Turkey's inflation was slightly lower than expected, which might influence the CBRT's approach. Despite recent changes, the USDTRY is still on an upward trend.

• Yearly inflation in Turkey: 61.53% (Expected: 61.6%, Previous: 58.94%)
• Monthly inflation in Turkey: 4.75% (Expected: 4.8%, Previous: 9.09%)

[HubuFX]

Bitcoin Bulls Hold the Fort: An Analysis of Current Market Trends


The bears put pressure on the bitcoin from $28,708 and currently bitcoin is testing the $27,349 pivot. The RSI indicator is hovering above the 50 level and with the BTCUSD holding above the broken trendline and pivot, bitcoin bulls are yet in control and we can expect the bitcoin price to rise and test the R1 resistance again.

[HubuFX]

US Oil Analysis: Bears Targeting the $87 Support

US oil prices are falling from a high of $95 and trading below the $90.36 pivot point due to various factors. The next support level is at $87.63, which could act as a buffer against further declines. The market conditions are fluid and vigilance is key.