EUR/USD
4 hour
The EUR/USD has retraced back to the long-term support trend line (green). This could be a hook back for another bullish bounce as indicated in the current wave count. A break of the support trend line would indicate a potential bearish breakout and change the wave structure.
1 hour
The EUR/USD is in a triangle chart pattern with resistance (red/orange) and support (green) marking the break zones. A bearish break would invalidate the current WX (purple) wave count.
GBP/USD
4 hour
The GBP/USD pushed lower yesterday but the oscillator has made a clear turn and is retracing back to the middle point, which means that the currency pair is in retracement territory.
1 hour
The GBP/USD is still moving to lower levels in the neat downtrend channel. However, a correction back to the top of the channel or long-term moving average is a decent possibility with the presence of double divergence and a small opposite momentum (wave A - magenta).
USD/JPY
4 hour
The USD/JPY seems to have completed 5 waves for a truncated wave 5 (purple) due to the failure to break the bottom of wave 3.
1 hour
The USD/JPY seems to be building an ABC correction (purple).
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EUR/USD comes under pressure near 1.0630
Further gains in the Greenback encourage sellers to maintain their control over the risk complex, forcing EUR/USD to retreat further and revisit the 1.0630 region as the US session draws to a close.
GBP/USD retreats toward 1.2450 on modest USD rebound
GBP/USD edges lower in the second half of the day and trades at around 1.2450. Better-than-expected Jobless Claims and Philadelphia Fed Manufacturing Index data from the US provides a support to the USD and forces the pair to stay on the back foot.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.