Daily Market Forecast By Capitalcore

GBPUSD H4 Technical Analysis of Recent Uptrends

The GBPUSD pair, commonly known as “Cable,” is a significant forex pair that tracks the exchange rate between the British Pound and the US Dollar. It is a vital financial instrument for traders due to the economic prominence of both nations. Today, fundamental analysis must consider a slew of U.S. economic data including GDP, unemployment claims, and durable goods orders, alongside British economic releases like the BOE Financial Stability Report and BOE Governor Bailey’s speech. These factors could significantly influence Cable, with stronger-than-expected U.S. data potentially bolstering the USD, while hawkish remarks from Governor Bailey could lend strength to the GBP.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the uploaded GBPUSD H4 chart, the recent price action reveals a bullish trend. The last seven candles have shown a consistent bullish momentum, progressing from the lower Bollinger band toward the middle and surging past it to touch and currently flirt with the upper band. This movement is underscored by widening Bollinger bands, indicating increasing volatility and bullish strength in the market. The RSI, hovering near the 66 mark, suggests the market is approaching overbought territory but still has room before extreme levels, supporting the potential for continued bullish behavior in the short term.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.

Capitalcore

USDCAD H4 Analysis: Bullish Momentum Gathers Pace

The USDCAD currency pair, often referred to as the “Loonie,” represents the exchange rate between the US dollar and the Canadian dollar. It is heavily influenced by commodity prices, particularly oil, as Canada is a major oil exporter. Loonie is widely traded in the forex market, reflecting economic and geopolitical dynamics between the United States and Canada. Today’s economic data for CAD includes a high-impact GDP release, forecasted at 0.3% m/m. A result exceeding this forecast would be positive for the CAD, indicating robust economic health. Conversely, the USD will see multiple low to medium impact news, such as Personal Income, Personal Spending, and speeches by FOMC members. Of particular note is the Core PCE Price Index, forecasted at 0.1%, which is a key inflation measure for the Fed. Additionally, speeches by President Biden and FOMC members could provide further insights into future monetary policy. Given the mixed nature of US economic indicators and the high importance of Canada’s GDP data, the USDCAD forex pair might see increased volatility.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the H4 chart for USDCAD, a potential uptrend is emerging following a downtrend. The price action indicates a shift as the candles move from the lower Bollinger Band to the middle and now between the middle and upper bands, signaling bullish momentum. The Fibonacci retracement levels show the price recovering from the 0.786 level, moving towards the 0.382 level at 1.37481. With 8 out of the last 10 candles being green, there is a clear positive movement in the Loonie’s price. The RSI is above 50, further supporting the bullish sentiment. The Bollinger Bands have started to widen, indicating increasing volatility and potential continuation of the upward movement.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.

Capitalcore

AUD/USD H4 Chart Shows Bullish Momentum

The AUD/USD forex pair, commonly known as the “Aussie,” is a major currency pair in the foreign exchange market, representing the exchange rate between the Australian dollar and the US dollar. AUDUSD forex pair is highly popular among traders due to its liquidity and the economic relationship between Australia and the United States. As of today, the market is anticipating several significant USD-impacting news events, including the Final Manufacturing PMI, ISM Manufacturing PMI, ISM Manufacturing Prices, Construction Spending, and ECB President Christine Lagarde’s speech. The Final Manufacturing PMI and ISM Manufacturing PMI reports are particularly influential as they provide insights into the health of the US manufacturing sector, with expectations set at 51.7 and 49.2, respectively. If the actual figures exceed these forecasts, it could bolster the US dollar, exerting downward pressure on the AUD/USD pair. Conversely, weaker-than-expected results might support the Australian dollar. Additionally, ISM Manufacturing Prices, forecasted at 55.8, will be closely watched as an indicator of inflationary pressures. ECB President Lagarde’s comments could also add volatility, depending on her stance on monetary policy.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the AUD/USD H4 chart, we observe that the price has been oscillating within the Bollinger Bands. Recently, the price moved from the lower band towards the middle band, reaching the upper band with three consecutive bullish candles. However, the last two candles have been bearish, indicating a potential correction but still hovering near the upper band, suggesting ongoing bullish momentum. The Bollinger Bands have widened, reflecting increased volatility. Additionally, the AUDUSD price is moving within the Fibonacci retracement levels of 0 and 0.236, indicating potential support and resistance areas. The RSI indicator is approaching overbought territory, which could imply a short-term pullback or consolidation.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.

Capitalcore

EUR/GBP Analysis and Forecast

The EUR/GBP currency pair, also known as “Chunnel” due to the Channel Tunnel linking Europe and the UK, represents the exchange rate between the Euro and the British Pound. This pair is heavily influenced by economic and political events in the Eurozone and the United Kingdom. Traders often monitor it for insights into the relative strength of these two major currencies. The EUR/GBP H4 candlestick chart indicates a potential bullish phase as this price line breaks out of a bearish structure, forming higher highs and higher lows. This upward movement is supported by the price rising above the Ichimoku cloud, signaling a bullish trend. Additionally, the RSI is above 60, indicating strong bullish momentum. These technical indicators suggest that the EUR/GBP pair might continue its upward trajectory in the near term.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The EUR/GBP H4 candlestick chart indicates a potential bullish phase as this price line breaks out of a bearish structure, forming higher highs and higher lows. This upward movement is supported by the price rising above the Ichimoku cloud, signaling a bullish trend. Additionally, the RSI is above 60, indicating strong bullish momentum. These technical indicators suggest that the EUR/GBP pair might continue its upward trajectory in the near term.
Recent economic data supports this outlook. The Eurozone’s PMI figures have generally beaten expectations, with the Italian Manufacturing PMI at 45.7, French Final Manufacturing PMI at 45.4, and the overall Final Manufacturing PMI at 45.8, all surpassing their forecasts. In contrast, the UK’s economic data presents a mixed picture, with the Final Manufacturing PMI revised down to 50.9 and weaker-than-expected M4 Money Supply and Net Lending to Individuals figures. These economic divergences may further support the EUR over the GBP, bolstering the bullish sentiment for the EUR/GBP pair.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.

Capitalcore

Analyzing USD/CAD: Economic Indicators and Trend Forecast

The USD/CAD pair, often referred to as the "Loonie," due to the loon depicted on the Canadian one-dollar coin, presents an interesting scenario on the chart. In this analysis, we explore the implications of recent economic data and upcoming events that could influence this currency pair.


Chart Notes:

• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.

The Loonie’s H4 chart shows a well-defined upward channel indicating a bullish trend in USD/CAD over the selected period. Recently, the price has tested the upper boundary of the channel and faced resistance, leading to a pullback towards the mid-line of the channel. This suggests a potential consolidation phase or a retracement before further upward movement. The resistance and support lines within the channel provide critical levels for traders to watch. If the price breaks above the current resistance, it could signal a continuation of the bullish trend, while a breach below the channel may indicate a reversal or stronger retracement.

Upcoming economic releases and events could be pivotal for the news analysis of USD/CAD. From the Canadian side, the International Merchandise Trade data is due on August 6, 2024. A positive report indicating more exports than imports could strengthen the CAD, potentially leading to a downward pressure on the USD/CAD pair if exports significantly exceed expectations. On the U.S. side, a series of influential data releases and public engagements by Federal Reserve officials, including the President of the Federal Reserve Bank of New York, could impact the USD. His participation in a panel discussion on interest rates suggests that any hawkish signals might reinforce the USD’s strength. Similarly, upcoming employment data such as the ADP Employment Change and Initial Jobless Claims could further influence market sentiment and volatility in this currency pair. These factors combined will guide traders in shaping their strategies around the USD/CAD in the coming weeks.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.

Capitalcore

GBPCHF H4 Technical Analysis: Post-Election Market Reaction

The GBPCHF forex pair, often referred to as “Geppy” or “The Beast,” represents the exchange rate between the British Pound (GBP) and the Swiss Franc (CHF). This pair is known for its volatility, influenced by political and economic events in both the UK and Switzerland. Today, market participants are closely watching the GBP due to high-impact Parliamentary Elections, which could lead to significant market moves based on early vote counts and exit polling. Additionally, the GBP Construction PMI, forecasted at 54.0, is expected to show expansion in the industry if the actual figure exceeds expectations. For the CHF, the Consumer Price Index (CPI) with an expected 0.1% increase will also be crucial as it indicates inflation trends that might influence the Swiss National Bank’s policy decisions.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the GBPCHF H4 chart, the pair has been trading within the upper half of the Bollinger Bands, oscillating between the middle band and the upper band, which has acted as a resistance level. The last ten candles have been predominantly bullish, though the last two candles were red but short, indicating potential hesitation among traders. The GBPCHF’s price movement is currently between the 0.618 and 0.5 Fibonacci retracement levels, suggesting a consolidation phase. The MACD indicator shows bullish momentum, supporting the upward trend, but traders should watch for any divergence or shifts in momentum.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.

Capitalcore

EUR/USD H4 Chart Analysis: Key Levels and Indicators

The EUR/USD forex pair, often nicknamed “Fiber,” represents the exchange rate between the Euro and the US Dollar. Today, the market is particularly attentive to several significant US economic data releases, including Average Hourly Earnings, Non-Farm Employment Change, and the Unemployment Rate, which are high-impact events likely to influence USD volatility. Additionally, low-impact data from Germany and France, alongside speeches from key financial figures, could also affect market sentiment.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the H4 chart of EUR USD, the price has been trending positively, moving within the upper half of the Bollinger Bands and frequently touching the upper band. Among the last 16 candles, six have been bearish, including the most recent two, yet the overall EUR-USD trend remains upward. The widening Bollinger Bands suggest increasing volatility, while the RSI indicates that the market is nearing overbought conditions. The price movements align with key Fibonacci retracement levels, with resistance around the 0.382 and support around the 0.618 levels, suggesting potential areas for future price action.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.

Capitalcore

USD/JPY H4: Fundamental and Technical Overview

The USD/JPY currency pair, also known as “The Ninja,” is a key barometer of the forex market, providing insights into the economic health and monetary policy stances of both the United States and Japan. The USD JPY pair’s movements are influenced by various economic indicators, central bank policies, and geopolitical events. As we look ahead to the upcoming economic data releases today, we can anticipate their potential impacts on the pair’s performance. Today, the focus is on several Japanese economic indicators, including Average Cash Earnings, Bank Lending, Current Account, and Economy Watchers Sentiment. The Average Cash Earnings forecast of 2.1% indicates modest wage growth, suggesting stable consumer spending potential, while Bank Lending at 3.1% reflects a positive borrowing environment, indicating confidence among businesses and consumers. The Current Account forecast of 2.07 trillion yen underscores a healthy trade surplus, potentially boosting the yen through increased foreign currency demand. Finally, the Economy Watchers Sentiment at 46.1 points to mild pessimism but remains a crucial gauge of consumer sentiment. In the U.S., the Consumer Credit data forecast at 10.7 billion USD suggests an increase in consumer borrowing, highlighting confidence in financial stability and spending capability. These mixed signals from Japan and steady consumer behavior from the U.S. will likely keep the USD-JPY in a state of cautious trading, awaiting more decisive trends.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the H4 chart of USD/JPY, we observe the price action within a descending channel following a recent peak. The Bollinger Bands show the price moving within the lower half, indicating a bearish trend. This is supported by the RSI, which has dropped below the neutral 50 level and stands at 40.61, suggesting further downside momentum. Fibonacci retracement levels reveal critical support and resistance points, with the price currently hovering around the 0.236 level at 160.191, struggling to find direction. The overall market sentiment has shifted bearish after a strong bullish trend throughout June and early July, with the last 15 candles showing a majority of bearish pressure. The current price behavior, along with these technical indicators, suggests a continuation of the bearish trend unless significant fundamental changes provide new direction.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.

Capitalcore

NZD/USD Price Analysis and Forecast

The NZD/USD pair, often referred to as the “Kiwi,” presents an interesting scenario on the chart. In this analysis, we explore the implications of recent economic data and upcoming events that could influence this currency pair. The Kiwi’s H4 chart shows a well-defined Fibonacci retracement pattern, indicating critical levels of support and resistance. Recently, the price line attempted to break above the 0.236 Fibonacci level but faced significant resistance, resulting in multiple reactions at this level. This repeated inability to break above the 0.236 level suggests a strong resistance zone, causing the price to reverse and indicating potential bearish sentiment.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Given the technical setup, the price on NZDUSD is expected to fall towards the 0.382 Fibonacci level, around the 0.61000 price mark. This level has historically acted as a support zone, and traders will be keenly observing how NZDUSD the price reacts at this level. A breach below the 0.382 level could signal a further decline, while a bounce back could suggest a potential retracement towards higher Fibonacci levels.
Upcoming economic releases and events analysis could be pivotal for the news forcast of NZD/USD. A positive report indicating more exports than imports could strengthen the NZD, potentially leading to downward pressure on the NZD/USD pair if exports significantly exceed expectations. On the U.S. side, a series of influential data releases and public engagements by Federal Reserve officials, including the President of the Federal Reserve Bank of New York, could impact the USD. His participation in a panel discussion on interest rates suggests that any hawkish signals might reinforce the USD’s strength. Similarly, upcoming employment data such as the ADP Employment Change and Initial Jobless Claims could further influence market sentiment and volatility in this currency pair. These factors combined will guide traders in shaping their strategies around the NZD/USD in the coming weeks.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.

Capitalcore

EUR/GBP Price Analysis and Forecast

The EUR/GBP forex pair has recently entered a bearish phase on the H4 timeframe, indicating a potential shift in market sentiment. The price action shows a clear break below a triangle pattern, typically signaling the start of a new trend. The Moving Average Convergence Divergence (MACD) histogram is in negative territory, and the MACD line is below the signal line, suggesting increased bearish momentum. Additionally, the Relative Strength Index (RSI) is slightly below the 50 level, aligning with the downward outlook.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Given the current technical setup, EUR/GBP is expected to continue its decline towards the next support levels. The immediate support is around the 0.8420 mark, coinciding with recent price lows. A breach below this level could lead to further downside towards 0.8370, a historically significant support zone. Traders should closely monitor these levels to gauge potential price reactions and adjust their strategies accordingly.
Upcoming economic events will play a crucial role in determining the pair’s direction. Key Eurozone indicators, such as GDP growth and inflation rates, alongside European Central Bank (ECB) policy meetings, could influence the Euro’s strength. In the UK, economic data like employment figures and Bank of England (BoE) communications will be pivotal. Strong UK economic performance or hawkish BoE signals could add further pressure on EUR/GBP, reinforcing the bearish sentiment.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.

Capitalcore