Daily Market Forecast By Capitalcore

[Capitalcore]

EURUSD H4 Price Action Analysis and Forecast for Today

The EUR/USD currency pair, often referred to as the "Fiber," is one of the most actively traded pairs in the forex market, representing the Eurozone's economic strength versus the U.S. dollar. Today, several economic events, including the Consumer Price Index (CPI) reports and bond yields, will impact EUR/USD. If inflation in the Eurozone comes in higher than forecasted, it could support the euro due to expectations of tighter monetary policy from the European Central Bank (ECB). On the other hand, U.S. retail sales and jobless claims reports, along with Philadelphia Fed business data, will influence the U.S. dollar, with better-than-expected figures possibly boosting the dollar. These news releases are key drivers for today's market sentiment and will significantly influence EUR/USD movements.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
From a technical standpoint, the EUR/USD H4 chart shows a clear bearish trend. The Ichimoku cloud indicates strong downward momentum, as the price is below the cloud, and the trendline drawn from previous highs suggests continued selling pressure. The Fibonacci Retracement Levels demonstrate that the price has recently touched the 0.786 level and is moving toward the 1.0 level, signaling a potential further decline if the support level breaks. The Awesome Oscillator (AO) reflects ongoing bearish momentum with no sign of reversal, with only three bullish candles appearing out of the last ten. As the price remains below key support levels and the cloud, sellers maintain control, and a break below the 0.786 Fibonacci level could open the path for further downside.

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]

USDJPY Price Action Targets Further Gains on H4 Chart

The USD/JPY forex pair, often referred to as the "Gopher," is one of the most traded currency pairs in the forex market. It reflects the exchange rate between the US dollar (USD) and the Japanese yen (JPY), influenced by economic data from both economies and central bank policies. Today, the focus is on the release of the US Treasury International Capital (TIC) report, building permits data, housing starts, and a speech by Federal Reserve Governor Christopher Waller. A higher-than-expected TIC reading or hawkish tones from Waller may strengthen the USD, pushing USD JPY price higher. On the Japanese side, attention remains on the Core CPI, as inflation figures could impact Bank of Japan's future policy stance. If the US data shows strength, USD/JPY could gain momentum, continuing its upward trajectory.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the USDJPY H4 chart, we observe a bullish trend with the price trading near the 0.236 Fibonacci retracement level at 150.216. The ascending trend line has a 33-degree angle, indicating strong upward momentum. The Bollinger Bands show the price maintaining an upward direction, with the recent candles pushing against the upper band, signaling bullish pressure. The MACD also supports the bullish trend, as both the MACD line and histogram are above the signal line, though further observation is needed for any potential divergence. The price action suggests that the USDJPY might aim for higher levels, but traders should watch for potential resistance and overbought conditions near the upper band.

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]

AUD/USD H4 Chart Price Action Insights

The AUD/USD pair, often referred to as the "Aussie," represents the exchange rate of the Australian Dollar against the US Dollar. This forex pair is heavily influenced by economic indicators and central bank policies from both Australia and the United States. Today, traders are closely watching events such as the RBA Deputy Governor Andrew Hauser's fireside chat and the IMF meeting discussing global economic issues, which may provide insights into future monetary policies. Hauser's comments could signal potential shifts in interest rate expectations, which would be bullish for the AUD if his tone is hawkish. Meanwhile, the USD is under focus due to speeches from key Federal Reserve officials, whose statements could hint at future rate hikes, adding volatility to the AUD USD pair. The mixed economic outlook globally, coupled with these significant events, suggests that AUD/USD chart may experience heightened market movements, depending on the stance and guidance provided by these economic authorities.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the AUD/USD H4 chart, the Aussie pair has been in a bearish trend, as indicated by the downward trajectory shown by the Fibonacci retracement levels. After touching a low near the 0.66395 level, the AUDUSD price has rebounded, moving from the lower Bollinger Band towards the upper band, suggesting a potential trend reversal. The recent price action shows that out of the last ten candles, seven have been bullish, while the last candle remains green, indicating a continuation of the upward movement. However, the two preceding candles were bearish, showing some resistance around the 0.67208 level, aligning with the Fibonacci 23.6% level. The Williams %R indicator currently reads -24.71, which is near the overbought territory, hinting at potential short-term selling pressure if the price struggles to break above the immediate resistance. For a sustained bullish move, the price needs to breach the downtrend line and the 0.67555 (Fibonacci 38.2%) level. Otherwise, a failure to do so may result in the price consolidating or retesting lower 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]

EUR/CAD Chart Patterns and Analysis

The EUR/CAD pair represents the exchange rate between the Euro and the Canadian Dollar, and its performance is influenced by various economic indicators and central bank policies from both the Eurozone and Canada. Currently, traders are focusing on recent economic data releases and upcoming speeches that could impact market sentiment. Recent economic indicators show a mixed outlook for the Canadian economy. The IPPI (Industrial Product Price Index) reported a monthly change of -0.4%, which is better than the anticipated -0.8%. However, the RMPI (Raw Materials Price Index) experienced a more significant drop of -1.7%, against the expected -3.1%. These figures suggest that while there might be some stability in product prices, raw material costs are under pressure, potentially signaling concerns about inflationary pressures in Canada. On the Eurozone side, attention is drawn to the speech by ECB President Christine Lagarde, scheduled for 8:15 PM. Her statements could provide insights into the ECB's stance on interest rates and monetary policy, which is crucial for the Euro's strength against the CAD.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the EUR/CAD H4 chart, the pair is currently navigating within a defined range, with strong support levels at 1.49270, 1.49000, and 1.48750, while resistance levels are positioned at 1.50000, 1.50380, and 1.50525. The Relative Strength Index (RSI) is currently at 44.36, indicating a neutral to slightly bearish momentum, while the Stochastic Oscillator shows values of 46.10 and 38, suggesting potential oversold conditions.
Recently, the pair has faced resistance near the 1.50000 level, where price action has shown a series of bearish candles. If the price fails to break above the resistance, it may consolidate or retest lower support levels. A bullish move, however, requires a decisive break above 1.50000, potentially leading to a challenge of the upper resistance levels.
The overall mixed economic data, coupled with Lagarde's upcoming speech, may lead to increased volatility in the EUR/CAD pair, as traders react to the guidance and potential shifts in monetary policy direction. A hawkish tone from Lagarde could strengthen the Euro against the CAD, while dovish comments could weaken it, leading to a test of the identified support 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]

GBPCAD Forecast: Impact of BOE Discussions Today

GBPCAD, a forex pair that tracks the British Pound (GBP) against the Canadian Dollar (CAD), has its daily news analysis influenced by both the UK’s economic developments and Canada’s energy-driven economy. Often referred to as a "cross pair," GBPCAD is particularly sensitive to events from both the Bank of England (BOE) and the Bank of Canada (BOC). Today’s focus includes BOE Deputy Governor Sarah Breeden's and Governor Andrew Bailey's participation in discussions at the IMF and World Bank meetings. Any hints on future monetary policy or rate decisions may provide volatility for the GBP, impacting the GBP/CAD forecast. In parallel, traders should keep an eye on Canada's monetary outlook, as any signals from the BOC can influence the CAD's value, affecting this pair’s fundamental outlook.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The GBP/CAD H4 chart indicates that the pair’s price action has shown some volatility recently. The Bollinger Bands reveal that the last five candles have transitioned from the lower band towards the middle band, suggesting a short-term bullish correction. Out of these candles, three were bullish, but the recent two candles have turned bearish after touching the middle band. This indicates a rejection from the middle band and the persistence of bearish pressure. The widening of the bands suggests increased GBPCAD volatility, while the RSI remains neutral, hovering around the 50-level, indicating indecision and potential further price action testing the middle Bollinger Band.

• 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]

EUR/USD H4 Chart Price Action Insights

The EUR/USD forex pair, often referred to as the "Fiber," is a major currency pair in the forex market, representing the exchange rate between the Euro and the US Dollar. Today, all eyes are on the upcoming Flash PMI reports for both the manufacturing and services sectors from the Eurozone and the US. A reading above 50 indicates expansion and is positive for the respective currency. If the Eurozone’s PMI surpasses forecasts, it could offer support for the euro; however, any contraction or weaker-than-expected figures might push the EURUSD price lower. Additionally, the upcoming IMF and BRICS meetings, as well as the Federal Reserve Bank of Cleveland’s statements, could introduce volatility. Market participants are likely to monitor these closely, as their outcomes may influence both EUR and USD price action.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The EUR/USD H4 chart displays a bearish trend, with the price moving consistently within the lower half of the Bollinger Bands, frequently touching the lower band, indicating sustained selling pressure. Over the past ten candles, three have shown bullish movement, with the last two being positive. However, the price remains at the 1 Fibonacci retracement level, oscillating between the 1 and 0.786 levels, suggesting a struggle to break out of the downward trend. The Williams %R indicator currently hovers in the oversold region, reflecting a bearish momentum that aligns with the overall trend. The next significant support level lies near the 0.786 Fibonacci level. A break below this could lead to further declines, while a break above the descending trend line may signal a 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

 

[Capitalcore]

Analyzing USD/CAD H4 Chart Ahead of U.S. Data

The USD/CAD currency pair, often called the "Loonie," is one of the major forex pairs traded globally, representing the value of the US dollar against the Canadian dollar. The USD/CAD fundamental analysis today is influenced by economic data from both countries, such as U.S. durable goods orders and Canadian retail sales figures, which are critical indicators of economic performance and consumer activity. Today’s Loonie news analysis has its focus on the U.S. durable goods data and the University of Michigan Consumer Sentiment, which may signal shifts in economic confidence and manufacturing trends. Strong U.S. data could boost the USD, pushing the pair higher, while disappointing figures may weaken the dollar, potentially leading to a decline in the USD/CAD exchange rate. On the Canadian side, traders will also monitor upcoming retail sales data and housing price indices. Strong retail sales figures could strengthen the CAD, as it would suggest robust consumer spending, the backbone of the Canadian economy. Conversely, if the data underperforms, it may weigh on the CAD, allowing USDCAD’s bullish trend to continue.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
On the USD/CAD H4 chart, the pair’s technical forecast today with confirmation from the Ichimoku Cloud and MACD indicators, reveals a nuanced picture. The Ichimoku Cloud shows that the price is currently above the cloud, indicating a bullish trend, but with recent candles hovering close to the cloud's upper boundary, suggesting a potential test of this support level. If the pair’s price keeps trading above the cloud, it could signify continued bullish momentum, while a break below might signal a bearish shift. The MACD indicator shows the histogram hovering near the zero line, with the MACD line and the signal line close to each other, indicating a lack of strong momentum and possible consolidation. If the MACD line crosses above the signal line and gains upward momentum, it could confirm a bullish continuation; otherwise, a downward cross may suggest increasing bearish pressure ahead.

• 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]

GBP/USD H4 Chart Technical and Fundamental Insights

The GBP/USD forex pair, known as "Cable," represents the exchange rate between the British Pound and the US Dollar, one of the most traded pairs in the forex market. Today, attention is on the Confederation of British Industry’s (CBI) latest survey on retail and wholesale sales volume. This index is a key indicator of consumer spending, as positive data (above 0) signals higher sales volume, which is generally favorable for the GBP. If the survey reveals a figure above the forecast, it could lend short-term strength to the GBP against the USD. With the Federal Reserve expected to remain cautious on rate hikes, any unexpected strength in UK consumer spending could provide GBP/USD support.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
On the GBP/USD H4 chart, the price has maintained a bearish trend, with alternating candlestick directions over the last ten periods, six of which were bearish. The Cable’s price is positioned below the Ichimoku cloud, indicating prevailing bearish sentiment, with the last three candlesticks also bearish. Currently, the price fluctuates between the 0.618 and 0.5 Fibonacci retracement levels, showing resistance around these points. Additionally, the Williams %R (14) indicator is in bearish territory, further confirming selling pressure. Unless the GBPUSD price can break through the Ichimoku cloud resistance, it may continue within this descending channel, testing lower Fibonacci levels for potential support.

• 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]

BTCUSD H4 Chart Bullish Trend Analysis

BTCUSD pair, often referred to as "Digital Gold," represents the exchange rate of Bitcoin in US Dollars, merging the volatility of cryptocurrency with forex trading. Today's key economic indicators from the US include updates on the Trade Balance, Wholesale Inventory, House Price Index, and Consumer Confidence—each of which could influence the dollar’s strength. With a stronger dollar potentially putting downward pressure on BTC/USD, any weakness in these indicators might support further upside movement. A particularly close eye will be on the Conference Board’s Consumer Confidence report and JOLTS job openings, as these provide insight into economic resilience and consumer spending—both critical for the dollar’s trajectory.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
On the BTCUSD H4 chart, we observe a sharp bullish trend within the last 20 candles, with a strong rally beginning at this week's market opening. Out of these candles, 14 have been bullish, reflecting a persistent upward momentum that has pushed BTC USD above the Ichimoku cloud—a signal of a robust trend. The BTC-USD pair has also breached key Fibonacci levels, including the 0.5 and 0.382, currently sitting between the 0.236 level and resistance around 72,011. The Williams %R indicator, while near the overbought region, suggests sustained bullish sentiment but warrants caution for potential corrections. BTCUSD’s ability to sustain above the cloud and hold gains at higher Fibonacci levels will likely determine the strength of this bullish move.

• 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]

AUDCHF H4 analysis: Bearish Momentum

AUDCHF, sometimes referred to as the “Aussie-Swiss,” represents the exchange rate between the Australian Dollar and the Swiss Franc, a pair often influenced by risk sentiment due to the AUD’s commodity-linked nature and the CHF’s safe-haven status. The AUDCHF pair on the H4 chart shows a clear bearish trend as it continues to trade below key resistance levels, with price action forming lower highs and lower lows. The pair is currently consolidating near a support level at 0.56666, with further supports at 0.56400 and 0.56075 if the downtrend persists. The price remains beneath the Ichimoku cloud, a strong signal that bearish momentum is intact, while the RSI hovers near 34, suggesting the pair is approaching oversold conditions. Despite nearing oversold territory, there’s no concrete sign of a reversal yet, so a break below the immediate support could lead to further declines.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Fundamental pressures add to the bearish outlook, with weaker-than-expected Australian inflation data weighing on the AUD and supporting the Swiss Franc as a safe-haven. Global uncertainties continue to drive demand for the CHF, while the Australian Dollar faces potential further weakness if the Reserve Bank of Australia signals a dovish stance in response to slowing inflation. Any rebound attempts may face resistance at 0.57050, 0.57150, and 0.57375, but the prevailing downtrend remains strong unless we see a shift in economic sentiment or a technical reversal signal.

•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]

USDJPY Bulls Eye Higher Resistance Levels

USDJPY, often regarded as a key indicator of market sentiment between the U.S. Dollar and the Japanese Yen, reflects the contrast between the USD’s strength backed by a robust U.S. economy and the JPY’s status as a safe-haven currency with historically low interest rates. The USDJPY pair on the H4 chart shows a clear bullish trend as it continues to trade above key support levels, with price action forming higher highs and higher lows. The pair is currently testing a resistance level at 152.800, with further resistance at 153.000 if the uptrend persists. The price remains above the Ichimoku cloud, a strong indication that bullish momentum is intact, while the RSI hovers near 58, indicating room for further upside before reaching overbought conditions. Despite the upward momentum, a break above the immediate resistance would solidify the bullish outlook.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Fundamental pressures add to the bullish outlook, with stronger-than-expected U.S. inflation data supporting the USD, particularly the Core PCE Price Index at 0.3% versus 0.1% expected, which bolsters the likelihood of a hawkish stance from the Federal Reserve. Meanwhile, the Bank of Japan’s decision to maintain its ultra-low policy rate contrasts sharply with the Fed’s approach, putting further pressure on the JPY. Any retracement attempts may find support at 151.450 and 148.900, but the prevailing uptrend remains strong unless there is a shift in economic sentiment or a technical reversal signal.

•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 Action Approaches Key Fibonacci Level

The EUR/USD forex pair, often nicknamed "Fiber," is one of the most traded currency pairs in the forex market, reflecting the economic relationship between the Eurozone and the United States. Today, the Euro may react to economic data releases like the S&P Global's PMI for the Eurozone, a key gauge of manufacturing health. As PMI readings above 50.0 suggest expansion and below indicate contraction, stronger-than-expected numbers could lend support to the Euro by hinting at economic resilience. Conversely, weak PMI data might add downward pressure on the Euro, signaling a slowdown. Meanwhile, U.S. data, including the Federal Reserve's lending standards and Census Bureau’s manufacturing orders, will also provide insights into the USD's strength, possibly driving EUR/USD volatility.

Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
Analyzing the EUR/USD H4 chart, we observe the price moving within a bullish channel, showing signs of shifting from a previous bearish trend. The Fiber’s price is currently trading near the 0.786 Fibonacci retracement level at approximately 1.0880, indicating a potential reversal point. Bollinger Bands show the price in the upper half, suggesting moderate bullish momentum, while the recent gap at market open highlights renewed buying interest. Despite the last two bearish candles at the close of last week, the current price movement within the channel suggests further bullish potential if it breaks the 0.786 level. The RSI is positioned near the 58 level, indicating a bullish sentiment but not yet in overbought territory, leaving room for continued upward movement.

•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]

AUDUSD Price Action: Key Support and Resistance Levels

The AUDUSD currency pair, commonly known as the "Aussie," represents the exchange rate between the Australian dollar and the U.S. dollar. As of November 5, 2024, the pair is influenced by several key factors. The U.S. presidential election has introduced uncertainty, with polls indicating a tight race between candidates, potentially impacting market volatility and the U.S. dollar's strength. Additionally, the Reserve Bank of Australia (RBA) is expected to maintain its cash rate at 4.35%, reflecting steady economic growth and persistent core inflation. These events are likely to affect the AUD/USD exchange rate in the near term.

Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
Analyzing the AUD/USD 4-hour chart, the pair has been in a bearish trend but is showing signs of reversal. Out of the last 25 candles, 12 have been positive, including the most recent two, indicating bullish momentum. The price is currently moving between the 0 and 0.236 Fibonacci retracement levels, approaching the 0.236 line, suggesting potential upward movement. The current candle is positioned in the upper half of the Bollinger Bands, and the Relative Strength Index (RSI) is trending upwards, reinforcing the bullish outlook.

•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]

GBPUSD Technical Overview with Key Indicators

The GBPUSD currency pair, known as the "Cable," is one of the most actively traded pairs in the forex market, linking the British pound (GBP) with the US dollar (USD). Today, traders will closely monitor several key US data releases, including jobless claims, labor productivity, and unit labor costs, as well as inventory and mortgage data. Lower-than-expected unemployment claims and improved productivity figures may strengthen the dollar, making it harder for the pound to regain footing. Additionally, the Bank of England's ongoing policy outlook and recent statements hint at possible rate stabilization, which may impact GBP demand. These releases, coupled with signals from Federal Reserve officials, could set a volatile trading environment for GBPUSD pair.

Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
On the GBP USD H4 chart, the pair has exhibited a gradual downtrend over the past month, with bearish candles outweighing bullish ones, leading to a decline in price. Currently, GBP USD has moved from the upper Bollinger Band to the lower band, with recent strong bearish momentum marked by two solid red candles. After touching the lower band, the GBPUSD price has shown a slight rebound, supported by two bullish candles, indicating potential upward movement within the range of the lower and middle Bollinger Bands. The price currently lies between the 0.786 and 0.618 Fibonacci retracement levels, suggesting a possible support zone that could lead to a temporary recovery before a further move is confirmed by upcoming data releases.

•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