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In my morning forecast, I focused on the level of 1.0837 and planned to make market entry decisions based on it. Let's look at the 5-minute chart and analyze what.
EUR/USD. July 5th. Independence Day turned into a new setback for the dollar
On Thursday, the EUR/USD pair consolidated above the resistance zone of 1.0785–1.0797 and continued its upward movement towards the next corrective level of 23.6%–1.0843. Bears are once again leaving.
GBP/USD. July 5th. The pound is taking advantage of the situation again, but the bears have not completely left the market
On the hourly chart, the GBP/USD pair consolidated above the resistance zone of 1.2690–1.2705 on Wednesday, marking the end of another sideways movement. On Thursday, the pair continued to rise.
Technical Analysis of Intraday Price Movement of GBP/CAD Cross Currency Pairs, Friday July 05 2024.
With the appearance of deviations between the price movements of the GBP/CAD cross currency which forms a Lower Low while the Stochastic Oscillator indicator forms a Higher.
Technical Analysis of Weekly Price Movement of Bitcoin Cryptocurrency, Friday July 05 2024.
If we look at the weekly chart of the Bitcoin cryptocurrency, we can see the appearance of the first Wiseman signal, Bearish Divergent Bar, which also happens to have formed.
EUR/USD: trading tips for beginners for the European session on July 5
Overview of trading and tips on EUR/USD The price test of 1.0813 in the second half of the day occurred when the MACD indicator had moved significantly above the zero.
Key events on July 5: fundamental analysis for beginners
There's a full plate of macroeconomic events slated for Friday. First, we want to highlight the morning reports. Germany will publish its industrial production report for May, and the Eurozone.
Forecast for EUR/USD on July 5, 2024
EUR/USD Yesterday, most European currencies ended the day with gains. This growth can be seen as part of the momentum from Wednesday. Today, U.S. employment data will be released.
Overview of GBP/USD on July 5. What can the dollar expect on Friday?
GBP/USD did not show any interesting movements on Thursday. US markets were closed for the celebration of Independence Day, so it was unlikely for the pair to show sharp movements.
Overview of EUR/USD on July 5. No one needs the Fed minutes as the pinnacle of the dollar's failures
EUR/USD failed to start a corrective movement or sustain its rise. US markets were closed for the celebration of Independence Day. As we had warned, volatility fell to its lowest.
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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.