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In my morning forecast, I highlighted the level of 1.2722 and planned to make decisions about market entry from that point. Let's look at the 5-minute chart and analyze what.
Forecast of GBP/USD pair on August 7, 2024
On the hourly chart, the GBP/USD pair on Tuesday rebounded from the resistance zone of 1.2788–1.2801 and reversed in favor of the US dollar, falling to the lower line.
GBP/USD: simple trading tips for beginners for the European session on August 7
Analysis of trades and tips on on GBP/USD The price test of 1.2681 occurred when the MACD indicator was coming out of bearish territory, confirming the correct entry point.
Trading plan for GBP/USD on August 7. Simple tips for beginners
Analyzing Tuesday's trades: GBP/USD on 1H chart On Tuesday, the GBP/USD pair again showed a noticeable drop. There were no macroeconomic or fundamental reasons for such movement yesterday, but overall.
Technical Analysis of Intraday Price Movement of Nasdaq 100 Commodity Asset, Wednesday August 07, 2024.
On the 4-hour chart, the Nasdaq 100 index is seen moving harmoniously in the Bearish channel and the EMA 20 position is below the EMA 50 and its price movement.
Technical Analysis of Intraday Price Movement of Natural Gas Commodity Asset, Wednesday August 07, 2024.
Although currently the natural gas commodity asset is weakening, which is indicated by its price movement moving harmoniously within the Bearish Pitchfork channel and its price movement moving below.
Forecast for GBP/USD on August 7, 2024
GBP/USD Yesterday, the pound sterling did well, overcoming the support level at 1.2755 and the support of the MACD line on the daily chart. Now, this line (1.2727) becomes resistance.
Forecast for EUR/USD on August 7, 2024
EUR/USD On Tuesday, market panic finally subsided; the S&P 500 gained 1.04%, the dollar index increased by 0.20% to 3.72%, and the yield on 5-year U.S. government bonds rose from.
Trading recommendations and analysis for GBP/USD on August 7; The pound continues its logical decline
On Tuesday, the GBP/USD pair sustained its decline and once again exhibited superb volatility for the fourth consecutive day, reminiscent of the good old times. This time, the price dropped.
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This section is updated daily and contains market analysis prepared by professional analysts on behalf of InstaForex. Each of the specialists presents analytical reviews in accordance with his/her vision of the current situation on the foreign exchange and other markets. However, the outlooks below are neither recommendations nor instructions to any actions. They contain analysis of the current situation on financial markets. In some cases, analysts' opinions about current market conditions may differ.