USD/JPY, "US Dollar vs Japanese Yen"
The USD/JPY quotes have broken the 0/8 (146.87) level on H4, exiting the oversold area. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 1/8 (147.65) and reach the resistance at 2/8 (148.43). The scenario could be cancelled by a downward breakout of the 0/8 (146.87) level. In this case, the quotes could drop to the support at -1/8 (146.09).
On M15, the price growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
USD/CAD, "US Dollar vs Canadian Dollar"
The USD/CAD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a downward breakout of 2/8 (1.3549) is expected, followed by a price decline to the support at 1/8 (1.3488). The scenario could be cancelled by rising above 3/8 (1.3610). In this case, the pair might rise to the resistance at 4/8 (1.3671).
On M15, a breakout of the lower VoltyChannel boundary might increase the probability of a price decline.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD hovers above 1.0500 amid French political jitters
EUR/USD is trading modestly flat above 1.0500 in the early European morning on Wednesday. The pair gyrates in a familiar range amid a broadly stable US Dollar and French political uncertainty, as the government faces a no-confidence vote in a busy day ahead.
GBP/USD clings to gains below 1.2700 ahead of Bailey's speech
GBP/USD is consolidating gains below 1.2700 in early European trading on Wednesday. Traders refrain from placing fresh bets ahead of speeches from BoE Governor Bailey and Fed Chair Powell later in the day. US ADP Jobs and ISM Services PMI data are also awaited.
Gold price slides below $2,640, fresh daily low ahead of Fed Chair Powell's speech
Gold price attracts some sellers following an intraday uptick to the $2,650 supply zone and hits a fresh daily low during the first half of the European session on Wednesday. The precious metal, however, remains confined in a familiar range held over the past week or so as traders seem reluctant to place aggressive directional bets ahead of Fed Chair Jerome Powell's speech.
Cryptomarket stabilizes after South Korea reverses martial law
Bitcoin hovers near $95,700 on Wednesday, signaling potential weakness as technical indicators suggest a decline, while Ethereum and Ripple stabilize near key levels, hinting at a possible rally following South Korea's reversal of martial law.
The fall of Barnier’s government would be bad news for the French economy
This French political stand-off is just one more negative for the euro. With the eurozone economy facing the threat of tariffs in 2025 and the region lacking any prospect of cohesive fiscal support, the potential fall of the French government merely adds to views that the ECB will have to do the heavy lifting in 2025.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.