Daily Market Analytics - Forex

[FXOpen Trader]

USDCAD Technical Analysis – 28th FEB, 2025
USDCAD – Resistance of Channel is Broken

USDCAD was unable to continue its Bearish momentum and after touching a low of 1.4406 the prices started to correct upwards against the United States Dollar today in the US Trading session.
The Resistance of channel is broken in the 15-minutes timeframe.
We can see MACD indicator: bearish divergence in the 15-minutes timeframe.
We have also seen that the RSI indicator: bearish divergence is present in the 4-hourly timeframe.
The prices are ranging Near horizontal resistance in the daily timeframe.
Some of the technical indicators are giving a Bearish to Neutral stance indicating the presence of the Consolidation wave in the markets.
The prices of USDCAD are ranging Near a new HIGH record (1 year) in the weekly timeframe.
USDCAD is now trading above its 100-hour SMA and its 200-hour SMA simple moving averages.
• USDCAD Bullish reversal seen above the 1.4406 mark.
• Short-term range appears to be Bullish.
• USDCAD continues to remain above the 1.4450 levels.
• Average true range ATR is indicating High market volatility.

The next resistance is located at 1.4492 which is a Pivot Point 1st Resistance Point.
USDCAD is now trading near to its Pivot levels of 1.4464 and is moving into a Bullish channel.
The price of USDCAD remains near its Classic support levels of 1.4446 and is now moving towards its next target of 1.4547 which is a 38.2% Retracement From 4 Week High.

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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check ...

 

[FXOpen Trader]

USDCHF Technical Analysis – 28th FEB, 2025
USDCHF – Resistance of Channel is Broken

USDCHF was unable to continue its Bearish momentum and after touching a low of 0.8996 the prices started to correct upwards against the United States Dollar today in the US Trading session.
The Resistance of channel is broken in the 1-hourly timeframe.
We can see that the Pivot points: price is over resistance 1 in the 2-hourly timeframe.
The Horizontal resistance is broken in the daily timeframe.
We will have to wait for the correct Entry timings in the markets given the presence of the Consolidation phase.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets indicating the presence of the Consolidation wave in the markets.
USDCHF is now ranging Near a new HIGH record (1 year) in the weekly timeframe.
USDCHF is now trading above its 100-hour SMA and its 200-hour SMA simple moving averages.
• USDCHF Bullish reversal seen above the 0.8996 mark.
• Short-term range appears to be Bullish.
• USDCHF continues to remain above the 0.9020 levels.
• Average true range ATR is indicating Less market volatility.

The next resistance is located at 0.9049 which is a Pivot Point 1st Resistance Point.
USDCHF is now trading near to its Pivot levels of 0.9030 and is moving into a Bullish channel.
The price of USDCHF remains near its Classic support levels of 0.9025 and is now moving towards its next target of 0.9082 which is a 14-3 Day Raw Stochastic at 70%.

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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check ...

 

[FXOpen Trader]

USDJPY Technical Analysis – 28th FEB, 2025
USDJPY – Resistance of Channel is Broken

USDJPY was unable to continue its Bearish momentum and after touching a low of 149.95 the prices started to correct upwards against the United States Dollar today in the US Trading session.
The Resistance of Channel is Broken and the prices are ranging Near horizontal resistance in the 1-hourly timeframe.
We can see Pivot points: price is over resistance 1 in the 1-hourly timeframe.
We will have to wait for correct Entry timings in the market given the presence of the Consolidation phase in the markets.
Some of the technical indicators are also giving a Bearish to Neutral stance indicating the presence of the Consolidation wave in the markets.
We have seen Pivot points: price is over resistance 1 in the daily timeframe.
The prices of USDJPY continue to range Near a new HIGH record (1 month) in the weekly timeframe.
USDJPY is now trading above its 100-hour SMA and its 200-hour SMA simple moving averages.
• Yen Bullish reversal seen above the 149.95 mark.
• Short-term range appears to be Bullish.
• USDJPY continues to remain above the 150.50 levels.
• Average true range ATR is indicating Less market volatility.

The next resistance is located at 151.25 which is a Price 1 Standard Deviation Resistance.
USDJPY is now trading near to its Pivot levels of 150.52 and is moving into a Bullish channel.
The price of USDJPY remains near its Classic support levels of 150.24 and is now moving towards its next target of 151.36 which is a Pivot Point 1st Resistance Point.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check ...