US Dollar Regains Strength Against Japanese Yen

by ForexCycle.com | May 20, 2024 2:11 am
After a corrective pullback from the 156.79 high, the USDJPY currency pair has rebounded from the 153.59 low. The bounce has extended to as high as 155.97 in recent trading sessions, with the bullish momentum showing signs...

US Dollar Rebounds Against Swiss Franc, Faces Key Resistance

by ForexCycle.com | May 20, 2024 1:16 am
After testing the key 0.8997 support level, the USDCHF currency pair has rebounded from a low of 0.8987 and is now facing resistance at the 0.9101 handle. This area will likely determine the pair’s near-term directional bias....

Stoxx Europe 600: What Signs of Investor Exuberance Keep Telling Us

by ForexCycle.com | May 17, 2024 10:02 am
By Elliott Wave International Every day, you read news stories about the state of the economy and the stock market affecting consumer and investor behavior. The story goes something like this: When the economy and financial markets...

British Pound Extends Rally Against US Dollar

by ForexCycle.com | May 17, 2024 8:11 am
The GBPUSD currency pair has broken out above the 1.2633 resistance level, rallying as high as 1.2700 in recent trading sessions. The bullish momentum shows no signs of letting up just yet, with the potential for further...

Euro Consolidates After Hitting Channel Resistance

by ForexCycle.com | May 17, 2024 7:31 am
The EURUSD currency pair has failed to break above the top of the rising price channel visible on the 4-hour chart, pulling back from the 1.0894 high. This price action suggests that a consolidation phase is likely...

US Dollar Pullback Presents Opportunity Against Japanese Yen

by ForexCycle.com | May 16, 2024 7:53 am
The USDJPY currency pair has extended its impressive upside move, rallying from the 151.86 low to a high of 156.79 in recent trading sessions. However, the pair has since pulled back from the 156.79 high, with the...

US Dollar Breaks Key Support Against Swiss Franc

by ForexCycle.com | May 16, 2024 7:16 am
The USDCHF currency pair has broken below the rising trendline support visible on the daily chart, followed by a breakdown below the key 0.8997 support level. This technical breakdown suggests that the recent upside move from the...

Euro Stages Bullish Breakout Against US Dollar

by ForexCycle.com | May 15, 2024 1:08 am
The EURUSD currency pair has broken out above the falling trendline resistance and the 1.0811 level visible on the 4-hour chart. This technical breakout suggests that the recent downside move from the 1.0981 high has likely completed...

Gold Uptrend Remains Intact Despite Recent Pullback

by ForexCycle.com | May 14, 2024 9:13 am
The XAUUSD (spot gold) remains in an overall uptrend that originated from the 1810 level. The recent pullback from the 2431 high is likely a consolidation phase within this broader uptrend. Range-Bound Trading Expected Over the next...

Four Major Economic Events to Watch This Week

by ForexCycle.com | May 13, 2024 2:05 pm
In the upcoming week, there are four major economic events that investors and market participants should keep an eye on: 1. US Inflation Data Release On Wednesday, the US will release its April inflation data. With previous...