Daily Market Forecast By Capitalcore

[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

 

[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

 

[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

 

[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

 

[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

 

[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

 

[Capitalcore]

USD/CAD Bears Eye Further Downside​

The USD/CAD forex pair, often referred to as the “Loonie,” is currently exhibiting bearish tendencies as it remains constrained within a descending triangle pattern on the H4 candlestick chart. The Ichimoku Cloud on this forex pair has turned red, and the price has broken below the cloud, signaling a potential further downside. Additionally, the RSI indicator is trending below 50, which supports the bearish outlook on the Loonie. These technical indicators suggest that the USD/CAD pair might experience a decline in the near term. Traders observing USDCAD price movements should be mindful of these bearish signals and adjust their strategies accordingly.

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

Today’s economic releases and events are crucial for the USD/CAD pair’s price action. Canada will release its Foreign Securities Purchases data, which previously stood at 41.16B. For the US, significant data includes Building Permits and Housing Starts, both anticipated to have slight changes, and the Industrial Production m/m expected to decrease from 0.9% to 0.3%. Additionally, the speeches from FOMC members and the release of the Beige Book can create significant volatility. These fundamental factors, combined with the current technical analysis, could influence the USD/CAD trading signals and price prediction, potentially validating the bearish outlook for the Loonie. Traders should closely monitor these developments as they might present opportunities or risks for the USD/CAD forex 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 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

 

[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

 

[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