Support and Resistance In forex trading, support and resistance are key concepts used to identify potential price reversal points. These levels help traders make informed decisions about when to enter or exit trades. Here's a breakdown of each:...
GBP/USD Reaches 1.2451 Amid Weak US NFP Data The GBP/USD currency pair has surged to 1.2451, driven by disappointing US Nonfarm Payrolls (NFP) data. The NFP report indicated that only 143,000 new jobs were added, falling short of the expected...
USD Decline and EUR/USD Recovery On Thursday, the US dollar (USD) experienced a significant decline, while EUR/USD continued its recovery, trading above the 1.0400 level. The US dollar index (DXY) also saw a considerable drop, despite...
USD/JPY Weekly Analysis: Breakout Potential Ahead The USD/JPY currency pair is signaling potential for a breakout as it has been trading within a horizontal zone for an extended period. Previously, the pair ascended above the 160 mark, but it has...
USD/CAD Analysis: Market Overview As of Thursday during the Asian trading hours, the USD/CAD currency pair was trading at 1.4260, continuing its downward trend for the third consecutive day. The daily chart indicates that if this pair breaks below...
