weekly chart

Trend analysis. The market may move upward from the level of 1.0724 (closing of Friday's daily candle) with the target of 1.0758, the 14.6% pullback level (red dotted line). When testing this level, the price may move downward with the target of 1.0737, the 61.8% pullback level (yellow dotted line).       Comprehensive analysis: Indicator analysis - up; Fibonacci levels - up; Volumes - up; Candlestick analysis - up; Trend analysis - down; Bollinger bands - down; Weekly chart - up.     Today, the price may move upward from the level of 1.0724 (closing of Friday's daily candle) with the target of 1.0758, the 14.6% pullback level (red dotted line). When testing this level, the price may move downward with the target of 1.0737, the 61.8% pullback level (yellow dotted line). Alternatively, the price may move upward from the level of 1.0724 (closing of Friday's daily candle) with the target of 1.0758, the 14.6% pullback level (red dotted line). When testing this level, the price may continue to move upwards with the target of 1.0794, the 23.6% pullback level (red dotted line).  

The market may move downward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2387, the 61.8% pullback level (blue dotted line). In the case of testing this level, the price may move upward with the target of 1.2448, the 38.2% pullback level (red dotted line).     Comprehensive analysis: Indicator analysis - down; Fibonacci levels - down; Volumes - down; Candlestick analysis - down; Trend analysis - down; Weekly chart - down; Bollinger bands - down.     General conclusion: Today, the price may move downward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2387, the 61.8% pullback level (blue dotted line). In the case of testing this level, the price may move upward with the target of 1.2448, the 38.2% pullback level (red dotted line). Alternatively, the price may move downward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2362, the 76.4% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible with the target of 1.2448, the 38.2% pullback level (red dotted line).    

Indicator analysis: Daily review of EUR/USD on June 7, 2023 Open trading account Open demo account Deposit money Money withdrawal Open trading account Open demo account. The market may move downward from the level of 1.0691 (closing of yesterday's daily candle) to the target at the 1.0648 support level (thick red line). Upon reaching this level, an upward movement is possible with the target of 1.0702, the 14.6% pullback level (red dotted line).     Comprehensive analysis: Indicator analysis - down; Fibonacci levels - down; Volumes - down; Candlestick analysis - down; Trend analysis - down; Bollinger bands - down; Weekly chart - down.   General conclusion: Today, the price may move downward from the level of 1.0691 (closing of yesterday's daily candle) to the target at the 1.0648 support level (thick red line). Upon reaching this level, an upward movement is possible with the target of 1.0702, the 14.6% pullback level (red dotted line). Alternatively, the price may move downward from the level of 1.0691 (closing of yesterday's daily candle) with the target of 1.0635, the lower fractal (red dotted line). Upon reaching this level, an upward movement is possible with the target of 1.0702, the 14.6% pullback level (red dotted line).  

The USD/JPY pair has barely managed to break above the resistance level of 143.80, opening up the next target level at 144.73. Two factors hinder the dollar's growth: divergence with the oscillator on the daily chart and investors' fear of intervention by the Bank of Japan, which is ready to support the national currency, as was the case on November 10, 2022 (the dollar fell by 550 points) - the intervention began from the level of 146.40.   For now, the price can safely rise to the first target resistance level at 144.73, and even the divergence will not hinder it. However, a reversal may occur at that level. If the divergence is broken, the pair will continue to rise to the nearest embedded line of the ascending price channel, clearly visible on the weekly chart, with 147.40 as the target.     Intervention is highly likely to occur from that level. If the price falls below the 143.20 level, the next targets will be 142.30 and 140.35. On the 4-hour chart, the price is steadily rising within the ascending channel (green), and it has consolidated above the resistance level of 143.80.       The Marlin oscillator is suppressed, indicating weak growth. For now, we're waiting for the pair to climb towards the 144.73 target.  

Trend analysis (Fig. 1). The GBP/USD currency pair may move downward from the level of 1.2693 (closing of Friday's daily candle) with the target at 1.2640, the 38.2% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2688, the 38.2% pullback level (red dotted line). Fig. 1 (daily chart). Comprehensive analysis: Indicator analysis - down; Fibonacci levels - down; Volumes - down; Candlestick analysis - down; Trend analysis - down; Bollinger bands - up; Weekly chart - down.   General conclusion: Today, the price may move downward from the level of 1.2693 (closing of Friday's daily candle) with the target at 1.2640, the 38.2% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2688, the 38.2% pullback level (red dotted line).   Alternatively, the price may move downward from the level of 1.2693 (closing of Friday's daily candle) with the target at 1.2627, the 14.6% pullback level (red dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2688, the 38.2% pullback level (red dotted line).  

Based on what we can see on its GBP/USD weekly chart, there is a few interesting things: 1. The appearance of Bearish Divergent between Stochastic with GBP/USD. 2. The appearance of Bearish Three Little Indian (Cyan circle). 3. The appearance of Rising Wedge weakening Pattern. 4. There is a Wolve Waves Pattern.     Based on those facts above, Cable seems has the chance to continue its quite huge downward tren, maximum in the next 2 weeks where as long as there is no upward correction rally that exceeds the 1.2850 level, GBP/USD will try to fall down towards the trend line ETA Line of its Wolve Wave or at least to the 1.2307 level as its main target.     

Trend analysis (Fig. 1). The GBP/USD currency pair may move upward from 1.2722 (closing of yesterday's daily candle) to the target level at 1.2747, the 21-day EMA (black thin line). In the case of testing this level, a continued upward movement is possible to 1.2800, the 61.8% pullback level (blue dotted line).     Fig. 1 (daily chart). Comprehensive analysis: Indicator analysis - up; Fibonacci levels - up; Volumes - up; Candlestick analysis - up; Trend analysis - up; Bollinger bands - up; Weekly chart - up.   General conclusion: Today, the price may rise from 1.2722 (closing of yesterday's daily candle) to the target level at 1.2747, the 21-day EMA (black thin line). In the case of testing this level, a continued upward movement is possible to 1.2800, the 61.8% pullback level (blue dotted line). Alternatively, the price may rise from 1.2722 (closing of yesterday's daily candle) to the target level at 1.2747, the 21-day EMA (black thin line). In the case of testing this level, a downward movement is possible to 1.2719, the 76.4% pullback level (blue dotted line  

Trend analysis (Fig. 1). The EUR/USD currency pair may move upward from the level of 1.0863 (closing of yesterday's daily candle) to 1.0914, the 23.6% pullback level (blue dotted line). From this level, the price may move down.     Fig. 1 (daily chart). Comprehensive analysis: Indicator analysis - up; Fibonacci levels - up; Volumes - up; Candlestick analysis - up; Trend analysis - up; Bollinger bands - down; Weekly chart - up.   General conclusion: Today, the price may move upward from the level of 1.0863 (closing of yesterday's daily candle) to 1.0914, the 23.6% pullback level (blue dotted line). From this level, the price may move down. Alternatively, the price may move upward from the level of 1.0863 (closing of yesterday's daily candle) to 1.0903, the 13-day EMA (yellow thin line). From this level, a continued upward movement is possible to the target level at 1.0928, the 21-day EMA (black thin line). In the case of testing this level, the price may move down.

Governor Thedeen say krona is fundamentally undervalued Markets fulling pricing in September Riksbank quarter-point rate hike Sweden’s government expects economy shrink by -0.8% in 2023 (previously eyed -0.4%) Sweden’s krona has been punished as the economy appears to be headed for a tough recession. Core inflation is coming down too slowly and that will keep the Riksbank hiking even as expectations grow for a lengthy recession.  The krona has not been getting any relief as many Swedes have started to embrace holding euros given the krona’s record plunge this year. Riksbank Governor Thedeen Riksbank governor Thedeen said that “the krona is too weak and it is fundamentally undervalued.” He added that “it should strengthen and we think that it will, but we know that it is almost impossible to predict currency moves over the short and medium term.” It is tough to call for a reversal after watching the krona fall to a fresh all-time low against the euro.  The current market expectations for the September meeting is to see the Riksbank raise rates by 25bps to 4.00%.  A freefalling krona is complicating the inflation fight, but that could see some relief as the outlook for the eurozone deteriorates. Expectations for the Sweden’s GDP are not seeing a strong consensus emerge.  Given the currency and inflation situation, it seems that the economy could be entering a recession that last more than a handful of quarters. The Swedish government is expecting a 0.8% decline in 2023 and a 1.0% growth for 2024.  It seems hard to believe that households will be a better position anytime soon, so a recession extending beyond 2024 seems likely.   The EUR/SEK weekly chart     EUR/SEK (weekly chart) as of Thursday (8/24/2023) shows the uptrend to record high territory is showing overbought conditions have arrived.  If the krona is able to firm up here, a mass exodus of EUR/SEK bullish bets could see price action tumble towards the 11.7118 region. If the plunge deeper into record low territory continues, EUR/SEK could make an attempt at the 12.000 which is just below the 141.% Fibonnaci expansion level of the 2020 high to 2021 low move. Last week, the krona was the most volatile G10 currency, so we should not be surprised if that volatility extends further given the chaos in the bond markets.