Daily Market Forecast By Capitalcore

Navigating GBP/USD with Technical Indicators

The GBP/USD forex pair, often referred to as "Cable," is a significant currency pair in the forex market, representing the exchange rate between the British pound sterling and the US dollar. Today, traders are closely monitoring a series of economic data releases from the UK, including GDP, trade balance, and manufacturing production figures. These indicators will provide insights into the UK's economic health, with higher-than-expected figures likely to bolster the pound, especially in light of ongoing concerns about the strength of the US dollar due to mixed economic signals from the US, including retail sales and jobless claims data.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The H4 chart of GBP/USD pair reveals a complex technical scenario. The pair is currently navigating within a rising channel, though recent price action has seen a retracement from the upper Bollinger Band towards the middle band. This correction is evident after a sequence of five consecutive bearish candles. Despite this pullback, the price remains in an overall bullish trend, trading above key Fibonacci retracement levels between 0.618 (1.28790) and 0.5 (1.28292), which are acting as crucial support and resistance. The MACD histogram is showing signs of weakening momentum, but as long as the price stays within the rising channel and above the 0.618 Fibonacci level, the bullish outlook remains intact. However, a break below the lower channel line could signal a potential shift in market sentiment.

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 Technical Outlook Amid Upcoming US Data

The NZD/USD, often referred to as the "Kiwi," represents the currency pair of the New Zealand Dollar against the US Dollar. The Kiwi is known for its correlation with commodities, especially dairy products, and is influenced by interest rate differentials between the Reserve Bank of New Zealand (RBNZ) and the Federal Reserve (Fed). With upcoming significant economic data from both New Zealand and the US, including the US Treasury International Capital (TIC) report, US residential building permits, and speeches from central bank officials, the NZD/USD pair may experience heightened volatility. Traders should particularly focus on the RBNZ Governor Adrian Orr's speech and the US economic indicators, as better-than-expected data from the US could strengthen the US Dollar, pressuring the NZD/USD lower. Conversely, any hints of future monetary policy shifts from the RBNZ could support the Kiwi, making the pair more attractive.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h
Analyzing the NZD USD H4 chart, it’s clear that after a bullish trend over the past two weeks, the pair is currently struggling to maintain its upward momentum. The price is moving along the lower line of the Bollinger Bands, indicating potential bearish pressure, especially as the last 10 candles have shown a predominant bearish trend with 7 out of 10 being bearish. The price has retraced from the upper band down to the middle band and is now hovering between the lower and middle bands, with the Bollinger Bands widening slightly—a sign of increasing volatility. The MACD and histogram are also signaling bearish momentum, supported by the higher volume of red candles. Additionally, the price is trading between the 0.786 and 0.618 Fibonacci retracement levels, suggesting a potential break below these levels could signal further downside. Traders should watch for a clear break below the lower Bollinger Band, which could indicate a continuation of the bearish trend.

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 H4 Technical Review Key Indicators and Price Action

The EUR/USD, often referred to as the "Fiber," is a highly traded currency pair that represents the exchange rate between the Euro and the US Dollar. It is one of the most liquid pairs in the forex market, known for its tight spreads and significant volatility during economic data releases. Today, market participants are keenly observing the upcoming remarks by Federal Reserve Governor Christopher Waller and the release of the Leading Indicators from the Conference Board, both of which could provide crucial insights into the direction of U.S. monetary policy. If Waller’s remarks lean hawkish, we might see strength in the USD, which could weigh on the EUR/USD pair. Additionally, stronger-than-expected Leading Indicators could further bolster the dollar, adding downward pressure on the pair.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the H4 chart of EUR/USD, the price is currently in a bullish trend, moving upward from the middle Bollinger Band towards the upper band, demonstrating strong upward momentum with 6 out of the last 10 candles being bullish. The price is navigating between the 0.236 Fibonacci retracement level and the 0.0 level, indicating potential resistance ahead. The RSI indicator, which is hovering around 66, suggests that the pair is nearing overbought conditions but still has some room for upward movement before it hits significant resistance.

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: The "Chunnel" in Focus

The EUR/GBP pair, often referred to as the "Chunnel" due to its connection between Europe and the UK, is currently trading within a descending triangle pattern, signaling potential bearish momentum ahead. The price is hovering near the lower boundary of this triangle, which often serves as a crucial support level. The MACD indicator is showing signs of weakening momentum, with the histogram close to crossing into negative territory, suggesting that a bearish wave may be imminent. Additionally, the RSI is reacting to the 50 level, a critical point that often determines the next directional move. With the RSI showing potential to descend, the outlook for the EUR/GBP could lean bearish in the near term.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Given this technical setup, traders should be cautious of a possible breakdown below the triangle’s support, which could lead to a significant decline in the EUR/GBP pair. This scenario would align with the broader bearish outlook indicated by both the MACD and RSI. As the pair navigates this critical juncture, those looking for “EUR/GBP price analysis,” “EUR/GBP prediction,” and “EUR/GBP price action” should monitor these key levels closely, as they may provide early signals of the next major move in this pair.

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

Capitalcore

Bullish Momentum in EURUSD: Ichimoku Cloud and MACD Analysis

The EUR/USD forex pair, commonly referred to as "Fiber," is a major forex pair that captures the exchange rate between the Euro and the U.S. Dollar. It is one of the most traded currency pairs in the forex market, known for its liquidity and relatively tight spreads. As the economic calendar for today unfolds, key data releases, particularly from the U.S. and U.K., are poised to impact the pair’s forecast today. The EUR/USD fundamental analysis today is driven by a series of economic indicators. The U.S. is set to release data such as Jobless Claims and PMI figures, which are vital for gauging the health of the U.S. economy. Better-than-expected Jobless Claims numbers could strengthen the USD, putting downward pressure on the EUR/USD. On the other hand, the PMI data from both the U.S. and Europe will provide insights into the manufacturing and service sectors' performance. For the Eurozone, weaker-than-expected PMI numbers could further depreciate the Euro, enhancing the Fiber’s bearish outlook. Additionally, the U.K.'s economic data, particularly the PMI and CBI Industrial Trends Survey, will indirectly influence the pair by affecting overall market risk sentiment.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the EUR/USD H4 chart, we observe the pair’s strong bullish momentum, as indicated by its price action residing within an ascending channel. The Ichimoku Cloud supports this bullish trend, with the price action above the cloud, signaling strong upward momentum. The Tenkan-sen and Kijun-sen lines are in a bullish alignment, further affirming the uptrend. Moreover, the MACD indicator shows bullish momentum, with the MACD line above the signal line and increasing positive histogram bars. Key resistance levels are noted around 1.1149 and 1.1151, while support levels are found near 1.1084 and 1.1071. A sustained break above the upper resistance could pave the way for further gains, while a failure to maintain this level might lead to a correction towards the support 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

GBPUSD H4: Bullish Momentum Above Ichimoku Cloud

The GBPUSD currency pair, commonly known as "Cable," is one of the most traded pairs in the forex market, representing the exchange rate between the British Pound (GBP) and the US Dollar (USD). Today, the market faces potential low liquidity due to the UK banks' closure in observance of the Summer Bank Holiday, possibly resulting in irregular volatility. On the other hand, the United States is set to release its Durable Goods Orders report, which could significantly influence the USD if the actual figures differ from forecasts, as higher-than-expected orders typically indicate increased manufacturing activity and economic strength.



Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The GBPUSD H4 chart indicates a strong bullish trend, supported by multiple positive candles, with 8 out of the last 10 candles showing upward movement. The price is currently above the Ichimoku cloud, a sign of bullish momentum, and is situated between the 0.5 (1.30380) and 0.618 (1.32266) Fibonacci retracement levels. The recent price action shows a steady climb within a rising channel, highlighting the strength of this uptrend. The RSI is trending in the overbought region, around 81.44, suggesting strong buying interest, but also indicating potential for a short-term correction if profit-taking occurs. If the price manages to break above the 0.618 Fibonacci level, it could aim for the next resistance around the 0.786 Fibonacci level, at approximately 1.34951.

• 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

Gold (XAU/USD) H4 Technical Analysis and Market Outlook

Gold, often referred to by its trading symbol XAU/USD, has recently surged to a new all-time high (ATH), capturing the attention of traders and investors worldwide. The H4 chart reveals an ascending triangle pattern, typically a bullish continuation pattern, suggesting potential for further upward movement. However, the price is currently testing the upper resistance line of this triangle around the $2,517 level, indicating a critical point where the market may decide on its next direction.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The RSI (Relative Strength Index) is positioned near 59, showing that the market is not yet overbought, providing room for further bullish action. Meanwhile, the MACD (Moving Average Convergence Divergence) histogram is positive, with the MACD line trending above the signal line, both signs of sustained bullish momentum. The upcoming economic data releases today could influence gold’s price action, with traders closely watching for cues that could either confirm a breakout above the current resistance or a potential pullback towards support around the $2,460 level. These movements are crucial for those involved in gold price analysis, prediction, and tracking price action around its recent ATH.

• 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: Key Support Levels in Focus

The EUR/GBP pair, commonly referred to as the "Chunnel," is a widely traded currency pair that represents the exchange rate between the Euro and the British Pound. Currently, this pair is experiencing a bearish trend, evident in its movement on the H4 chart. The price has been steadily declining, breaking below key Fibonacci retracement levels, with the 0.618 level at 0.84757 unable to hold as support. This downward movement is further confirmed by the MACD indicator, which shows negative divergence, with the MACD line below the signal line and histogram bars in negative territory. Additionally, the RSI is firmly in the oversold zone, around 20, indicating strong selling pressure, although it may also suggest that this bearish momentum could be overextended.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Given this technical setup, the EUR/GBP pair is likely to face continued downward pressure unless there is a clear bullish reversal. Traders should keep an eye on critical support levels near 0.84293, where the price is currently consolidating. A decisive break below this support could lead to further declines, aligning with the bearish outlook highlighted by both the MACD and RSI indicators. For those following “EUR/GBP technical analysis,” “EUR/GBP bearish trend,” and “EUR/GBP support levels,” these indicators and price movements provide valuable insights into potential market behavior and trading opportunities.

• 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 Action Analysis Ahead of Key Events

The EUR/USD forex pair, often referred to by its nickname "Fiber," is the most traded currency pair in the world, representing the exchange rate between the Euro (EUR) and the US Dollar (USD). Today’s fundamental analysis revolves around key upcoming events, including speeches from influential figures like Raphael Bostic of the Federal Reserve and Joachim Nagel of the Deutsche Bundesbank. These events are expected to provide insights into future monetary policies, with hawkish tones likely benefiting their respective currencies. Additionally, US economic data releases on GDP, unemployment claims, and trade balance will be closely monitored by traders for further indications on economic health and potential interest rate adjustments. Such fundamental factors can drive volatility in the EUR USD forex pair, making these announcements critical for intraday trading strategies.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The H4 chart of EURUSD, analyzed with Ichimoku Cloud, RSI, and Fibonacci retracement levels, indicates a consolidation phase after a recent downtrend. The price is currently moving between the 0 and 0.236 Fibonacci retracement levels, suggesting a corrective pullback. Following a touch of the 0.236 level, two bullish candles have emerged, indicating potential upward momentum. This recovery is further supported by the price trading above the Ichimoku Cloud, although it recently touched the upper cloud boundary before rebounding. The Relative Strength Index (RSI) is currently showing a value below 50, signaling a lack of strong bullish momentum. If the price continues to hold above the Ichimoku cloud and breaks above the 0.236 Fibonacci level, a further move upwards could be anticipated, whereas a failure to do so may signal a continuation of the bearish trend.

• 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

USD/JPY H4 Chart Signals Bullish Breakout

The USD/JPY currency pair, often referred to as the "Gopher," is a popular forex trading pair that tracks the exchange rate between the US Dollar and the Japanese Yen. It is one of the most traded currency pairs globally, offering high liquidity and volatility, making it a favorite among traders. Today's trading dynamics are likely to be influenced by economic indicators from both Japan and the US, including the Japanese Ministry of Finance's data on capital expenditures and the Jibun Bank Manufacturing PMI.
Fundamentally, the USD/JPY pair may experience increased volatility today due to key economic data releases. The Japanese capital expenditures report, a significant indicator of economic health, suggests that if the actual figures exceed the forecast, the Yen could strengthen as increased business investment signals optimism in the economy. Additionally, the Jibun Bank Manufacturing PMI is set to provide insights into Japan's manufacturing sector's health, with readings above 50 indicating expansion. However, with US banks closed for Labor Day, reduced liquidity in USD trading could result in erratic price movements. Traders should be cautious of potential spikes in volatility due to the lower trading volume, which might amplify reactions to the Japanese economic releases.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
From a technical perspective, the USD/JPY H4 chart indicates a light bullish trend, with recent price action dominated by bullish candlesticks. The pair is currently trading near the upper Bollinger Band, signaling strong upward momentum. The price has been oscillating between the middle and upper Bollinger Bands, suggesting a prevailing bullish sentiment. The Bollinger Bands are widening, which typically indicates increasing volatility. Furthermore, the price is situated between the 0.5 and 0.382 Fibonacci retracement levels, a zone that often serves as a resistance area. If the price breaks above this zone, it may continue its upward trajectory; otherwise, a reversal could be possible if the bearish candles gain dominance. The Willy indicator shows mixed signals but leans slightly towards overbought conditions, warranting caution for potential corrections.

• 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