Daily Market Forecast By Capitalcore

EURUSD Price Action and Key Economic Releases

The EUR/USD forex pair, often referred to as “Fiber,” is a popular trading instrument in the forex market, representing the exchange rate between the Euro and the US Dollar. Today’s economic calendar features critical data points that could influence the EUR USD exchange rate. The Core CPI and CPI releases are expected to provide insights into inflationary pressures in the US economy, with forecasts of 0.2% and 0.1% respectively. Higher-than-expected inflation figures could bolster the USD as it may lead the Federal Reserve to maintain a hawkish stance on interest rates. Additionally, the unemployment claims report, forecasted at 236K, will shed light on the health of the US labor market. Lower-than-expected claims could further support the USD. Other factors include speeches from various FOMC members, potentially offering clues on future monetary policy directions. Traders should monitor these releases closely as they will likely create volatility in the EUR/USD pair.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the EUR/USD H4 chart, the pair is currently in a bullish trend, navigating between the 0.5 and 0.618 Fibonacci retracement levels. The Bollinger Bands indicate that the price recently moved from the lower band to the middle band, suggesting a shift in momentum. The tightening of the Bollinger Bands signals reduced volatility, often a precursor to a significant price movement. The last three candles have been positive, indicating a consistent upward trajectory. Additionally, the RSI indicator is hovering around 57, reflecting moderate bullish momentum on EUR-USD without being overbought. Traders should watch for potential resistance near the 1.08429 level, coinciding with the upper boundary of the current ascending channel.

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

Capitalcore

Fundamental and Technical Analysis of NZDUSD

The NZDUSD forex pair, often referred to as the “Kiwi,” represents the trading relationship between the New Zealand Dollar (NZD) and the US Dollar (USD). This pair is popular among traders due to its liquidity and the interest rate differentials between New Zealand and the United States. Today, traders should watch the BusinessNZ Manufacturing Index for NZD and several high-impact data releases for USD, including Core PPI, PPI, and Prelim UoM Consumer Sentiment. Fundamentally, the NZDUSD pair faces mixed impacts. The BusinessNZ Manufacturing Index is expected to show slight movement with low impact, while the USD could see significant fluctuations due to high-impact data releases. The Core PPI (forecasted at 0.2%) and PPI (forecasted at 0.1%) releases will provide insights into producer inflation, which is a leading indicator of consumer inflation. Higher-than-expected figures are bullish for USD. Additionally, the Prelim UoM Consumer Sentiment, forecasted at 68.5, will reflect consumer confidence, a key driver of economic activity. Positive results here will further support the USD, potentially leading to downward pressure on the NZDUSD pair.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Technically, the NZDUSD H4 chart shows the price moving from the lower Bollinger Band towards the middle band, breaking above briefly before dropping back below the middle band with three consecutive bearish candles. The price is currently in the lower half of the bands but close to the middle band, indicating a potential range-bound scenario or further downside. The MACD indicator shows bearish momentum, which supports the recent bearish candles. Fibonacci retracement levels highlight key support and resistance zones, with the 0.382 level acting as immediate resistance around 0.60820.

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

Capitalcore

Fundamental and Technical Insights for USD/CAD H4 Chart Analysis

The USD/CAD pair, often referred to as the "Loonie," is a widely traded forex pair representing the exchange rate between the US Dollar and the Canadian Dollar. The USD/CAD news analysis today is heavily influenced by economic data releases and geopolitical events from both countries, making it a popular choice for traders seeking opportunities based on economic indicators and policy announcements. Today's news for the CAD includes low-impact data such as Manufacturing Sales and Wholesale Sales, both indicative of the current state of the Canadian economy. The Bank of Canada's Business Outlook Survey, although generally low-impact, provides insights into business sentiment and future economic conditions. As for the USD, the Empire State Manufacturing Index is highly anticipated, with a forecast of -5.5. This index serves as a leading indicator of economic health, and its outcome could significantly impact the USD. Additionally, speeches from Federal Reserve Chair, and FOMC members are expected to provide clues about future monetary policy, potentially introducing volatility to the USD/CAD forecast today.

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

The USD/CAD H4 chart shows that the price has entered the Ichimoku Cloud, indicating a potential bullish trend continuation. The Stochastic RSI is in the overbought territory, suggesting a possible correction phase before the bullish trend resumes. Key support levels are found at 1.36251 and 1.36320, while resistance levels are noted at 1.36442 and 1.36528. The Loonie’s price action and the movement within the rising channel indicate a sustained bullish trend for the pair, although traders should be cautious of a pullback given the overbought conditions on the Stochastic RSI.

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

Capitalcore

EURUSD Price Analysis and Forecast

The EURUSD forex pair today is hovering around a significant resistance zone, indicating potential bearish movements in the near term. Analysing the technical indicators on this pair suggest a possible downturn as the price line maintains a considerable distance from the Ichimoku Cloud, signaling overbought conditions. The RSI indicator analysis is revealing negative divergence while remaining above the 70 level, reinforcing the overbought status and hinting at an impending bearish phase. Also, the recent candlestick patterns on this pair, the fiber, display bearish characteristics, adding to the likelihood of a price decline. Traders should be cautious and consider the fiber’s chart trading signals when making trading decisions.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In addition to the technical outlook, fundamental factors are poised to influence EURUSD movements. Key economic data releases are scheduled, including the Italian Trade Balance, the Eurozone Trade Balance, and the ZEW Economic Sentiment for both the Eurozone and Germany. The forecasts indicate potential declines compared to previous figures, suggesting weaker economic sentiment and trade performance in the Eurozone. If the actual data aligns with or falls below these forecasts, it could exert additional downward pressure on the EURUSD, amplifying the bearish sentiment observed in the technical analysis.
Traders should monitor these economic releases on EUR and USD currencies closely as they can significantly impact the EURUSD price action, potentially validating the bearish predictions derived from the current technical indicators.

• 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 GBPUSD’s Strength on the H4 Chart

The GBPUSD forex pair, commonly referred to as the “Cable,” represents the exchange rate between the British Pound (GBP) and the US Dollar (USD). It is one of the most traded currency pairs in the world, offering significant liquidity and numerous trading opportunities due to its relative volatility and market depth. The nickname “Cable” originates from the first transatlantic communication cable that connected the UK and USA, which was used to transmit currency prices between the two economies. Today’s fundamental analysis for GBPUSD is shaped by a series of high, middle, and low impact news events affecting both currencies. For the GBP, key releases include the Claimant Count Change and Average Earnings Index, which are crucial indicators of labor market health and are likely to influence the Bank of England’s monetary policy decisions. Simultaneously, the USD faces its own critical data with the Unemployment Claims and the Philly Fed Manufacturing Index, providing insights into the US economic landscape. The interplay of these reports could lead to increased volatility and trading opportunities in the GBPUSD pair, with potential strengthening in the Pound if the UK’s employment data outperforms expectations and weakening if US data suggests a robust economic outlook.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the uploaded H4 chart of the GBPUSD pair with indicators such as Bollinger Bands, MACD, and Fibonacci levels, we observe a bullish trend. The candles have predominantly been in the upper half of the Bollinger Bands, oscillating between the middle and upper bands, indicating a sustained uptrend. The MACD shows a bullish momentum as it remains above the signal line. Additionally, the recent price action respecting the Fibonacci retracement levels suggests strong support and resistance zones, aiding traders in identifying potential entry and exit points.

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

Capitalcore

EURGBP Technical Analysis and Chart Signals

The EUR/GBP pair, commonly known as the “Chunnel” pair, reflects the exchange rate between the euro and the British pound. This pair is significantly impacted by economic indicators, political events, and central bank policies from both the Eurozone and the United Kingdom. Today, the market’s focus is on the German PPI, Eurozone Current Account, UK GfK Consumer Confidence, and UK Retail Sales data, which could introduce substantial volatility. The German Producer Price Index (PPI) is expected to show a minimal increase of 0.1%, signaling mild inflationary pressures in the Eurozone’s largest economy. The Eurozone’s Current Account surplus is forecasted to be 34.6 billion, indicating healthy international trade flows. On the UK side, GfK Consumer Confidence is projected at -12, reflecting moderate consumer pessimism. However, the UK Retail Sales are anticipated to decline by 0.6% month-on-month, which could weigh heavily on the British pound if realized. These mixed economic indicators suggest potential near-term volatility for the EUR/GBP pair.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the EUR/GBP H4 chart, the pair has transitioned from a bearish trend to a bullish one over the last 10 candles, with 7 of them being bullish. The Bollinger Bands, which had tightened, are now widening again, suggesting increasing volatility. The price has moved above the 0.236 Fibonacci retracement level and is positioned within the upper half of the Bollinger Bands. The MACD indicator shows a bullish crossover, indicating potential upward momentum. If this bullish trend continues, the price could rise towards the next resistance at the 0.382 Fibonacci level, with further potential to reach higher resistance levels.

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

Capitalcore

NZDUSD: Impact of US Political News on Kiwi

The NZD/USD forex pair, often referred to as the “Kiwi,” is a popular trading pair known for its volatility and liquidity. The upcoming New Zealand trade balance report, with a forecast of 294 million, is expected to have a low impact on the NZD. A higher-than-expected figure would be favorable, indicating stronger export demand. Concurrently, President Joe Biden’s withdrawal from the 2024 presidential race and his endorsement of Kamala Harris are significant developments. This unexpected political shift may introduce high volatility for the USD Currency, potentially impacting the NZDUSD pair.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the provided NZD/USD H4 chart, the Bollinger Bands indicate increased volatility as they have widened significantly. The last 10 candles predominantly show a bearish trend with nine red candles, reflecting strong selling pressure. However, the MACD indicator is suggesting a potential bullish reversal, as the histogram is showing signs of convergence, and the signal line appears to be crossing upward. The price has been moving from the middle band towards the lower band, touching it several times, which often signifies oversold conditions. Currently, the price is slightly above the lower band, suggesting a possible reversal. The Fibonacci retracement levels show that the price is oscillating between the 0.78 and 1.00 levels, indicating key support and resistance zones.

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

Capitalcore

EUR/USD Price Prediction for July 23rd

The EUR/USD forex pair, often referred to as the “Fiber,” is a major currency pair that represents the exchange rate between the Euro and the US Dollar. This pair is highly popular among traders due to its liquidity and volatility, making it a key focus in the forex market. In the current EUR/USD H4 candlestick chart, we observe an interesting setup that suggests a potential bullish move is on the horizon.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The MACD indicator on EURUSD chart is showing signs of entering an ascending phase, indicating increasing bullish momentum. Additionally, the RSI, which has recently started a smooth upward trajectory from below 50, further supports the bullish sentiment on the Fiber. Analyzing the price actions of this forex pair, it’s evident that EURUSD has been forming higher highs without recording a lower low, strengthening the bullish outlook. For traders and investors looking for EUR/USD H4 price action and chart forecast, today’s analysis highlights an opportunity for a bullish continuation in the short term.
In summary, the combination of technical indicators and price action patterns on the EUR/USD H4 chart suggests a favorable scenario for a bullish move. As the MACD and RSI both indicate strengthening bullish momentum, and the price action shows consistent higher highs, the EUR/USD pair looks poised for further gains.

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

Capitalcore

EUR/GBP Analysis for: Key Levels and News Impact

EUR/GBP forex pair, often referred to as "Chunnel" has been exhibiting a steady bearish trend on the H4 candlestick chart today. The price of Euro against The Great Britain Pound has been consistently forming lower lows and lower highs within a descending channel, highlighting the persistent bearish momentum. Currently, the price is approaching a critical resistance level around 0.84300. The reaction of the price to this resistance zone will be crucial in determining the next move. Given the established bearish channel, this is predicted that the price on this pair will face rejection at this resistance and continue its downward trajectory.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In terms of upcoming economic indicators relating to this forex pair, the EUR is set to see significant activity with the release of the French Flash Manufacturing and French Flash Services PMI. Additionally, the German Flash Manufacturing PMI and German Flash Services PMI are also scheduled for release. These figures are critical as they can significantly influence the EUR's strength and therefore this could greatly affect the price predictions on EURGBP. Analyzing the news On the GBP side, the Flash Manufacturing PMI and Flash Services PMI will be released. Positive PMI data from Germany and France could support the EUR, potentially leading to a test of the resistance zone. Conversely, better-than-expected UK PMI figures could strengthen the GBP, reinforcing the bearish outlook for EUR/GBP and driving the price lower within the bearish channel.

In summary, traders should closely monitor the price action around the 0.84300 resistance level. The upcoming PMI data releases for both EUR and GBP will be pivotal in determining the short-term direction of EUR/GBP on H4 candlestick chart. Considering the current technical setup and fundamental expectations, a continuation of the bearish trend remains the most probable scenario.

• 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

USDJPY Price Action Nears Critical Support Zone

The USDJPY forex pair, often referred to by its nickname “the ninja,” is one of the most actively traded currency pairs in the foreign exchange market. Known for its high liquidity and tight spreads, it represents the exchange rate between the US dollar (USD) and the Japanese yen (JPY). As a major currency pair, it is influenced by economic policies and geopolitical developments in both the United States and Japan.
Fundamentally, the upcoming news for today includes several events that could impact the USDJPY pair. FOMC members Bowman and Logan are expected to deliver low-impact speeches, which might provide subtle hints about future monetary policy. Additionally, President Biden’s announcement on his decision to drop out of the 2024 presidential race is expected to have a low impact. However, high-impact events such as the release of the Advance GDP q/q with a forecast of 2.0%, and Unemployment Claims forecasted at 237K, will be critical. These indicators reflect the overall economic health and labor market conditions in the US. An actual GDP figure above the forecast would be bullish for the USD, while lower-than-expected unemployment claims would also support the dollar. The Advance GDP Price Index and Core Durable Goods Orders m/m are medium-impact events that could further influence the market sentiment.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the USDJPY H4 chart, we observe that the price has been moving in the lower half of the Bollinger Bands, indicating a bearish trend. The bands have widened, reflecting increased volatility. However, the latest candle is green, suggesting a potential bullish reversal. The Fibonacci retracement levels show significant resistance and support areas, with the price recently bouncing off the 0.786 level. The MACD indicator shows that the MACD line has crossed below the signal line, confirming bearish momentum. However, the histogram shows a reduction in bearish momentum, aligning with the recent green candle, which could indicate a possible trend reversal.

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

Capitalcore