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Analysis of margin levels for 1 October 2024 USDJPY​

USDJPY: medium-term sells of the pair​

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 149.000-149.500. At the moment, the pair is trading lower, indicating the strength of sellers.


• Medium-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 150.500-150.700. At the moment, the pair is trading lower, indicating the strength of sellers.

• The area of profitable prices for sell in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the minimum 21.11.2023.

• Quotation of the lower boundary of the zone 1/4 – 148.471.

• Quotation of the lower boundary of the zone 1/2 – 149.617.

• Intraday objectives: update the lows from 21.11.2023-147.343.

• Medium-term objectives: test the higher bound of SWCZ –145.043.



• Trading recommendations: sells from the range of favorable prices in the formation of a reversal pattern.

• Sell: 148.471-149.617, Take Profit 1-147.343, Take Profit 2-145.043.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

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[Fresh Forex]

Fundamental Market Analysis for October 2, 2024 EURUSD
EURUSD:
​

The EUR/USD pair is trading slightly higher around 1.1070 during Asian trading hours on Wednesday. Meanwhile, any signs of rising geopolitical tensions in the Middle East could weigh on risky assets such as the euro (EUR).

Traders are still assessing the likelihood of a sharp rate cut by the US Federal Reserve (Fed) in November after Fed Chairman Jerome Powell said that the US central bank is in no hurry and will lower the benchmark rate “over time”. Financial markets now estimate the probability of a 50 basis point (bps) rate cut in November at nearly 37.4%, while the probability of a 25 bps rate cut is 62.6%, according to CME FedWatch Tool data.

Unfavorable economic data from the U.S. on Tuesday undermined the dollar. The US manufacturing PMI from ISM was unchanged at 47.2 in September, weaker than expectations of 47.5. The report pointed to a continued contraction in the US manufacturing sector.

Eurozone inflation declined in September, falling below the European Central Bank's (ECB) target level. The harmonized consumer price index (HICP) rose 1.8% in September, down from 2.2% in August, Eurostat said on Tuesday. The figure was the lowest since April 2021. The eurozone economy may not be out of the woods yet, even despite encouraging inflation data for September. The ECB cut interest rates to 3.50% in September and has also hinted that another cut may be in the near future.

Fears of an expanding war in the Middle East could put pressure on the common currency and boost safe-haven assets such as the U.S. dollar. Iran launched more than 200 ballistic missiles at Israel on Tuesday, and Prime Minister Benjamin Netanyahu vowed to retaliate against Iran for the missile attack.

Trading recommendation: Watch the level of 1.1070, if the level is fixed above consider Buy positions, if the level rebounds consider Sell positions.

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[Fresh Forex]

Elliott wave analysis of the market for 03.10.2024 GBPUSD

EUR/USD. The price remains under sales pressure.​

The pressure on the price from sellers continued to be strong enough to continue the decline. As a result, the local minimum was updated, and all this downward movement fits well into impulsive frameworks. Currently, it is assumed that its fifth wave is being formed, which may end below the current values. After that, growth is expected, driven by the formation of a correction.

Due to the downward movement retaining the potential for further development, trading the considered pair is not recommended.

It is advisable to wait for the opportunity to enter buy deals to take the corrective movement, which could turn out to be minor if the price enters a range.

Investment idea: flat.

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[Fresh Forex]

Fundamental Market Analysis for October 4, 2024 USDJPY
An event to look out for today:

15:30 GMT+3. USD - Unemployment Rate

USDJPY:

​

The USD/JPY pair is fluctuating in a narrow range in the Asian session on Friday, consolidating its weekly rise to its highest level since 19 August, reached the previous day. Spot prices are currently trading below 147.00, unchanged for the day, as traders prefer to stay on the sidelines ahead of the release of important monthly US employment data.

The US Non-Farm Payrolls (NFP) report is expected to show that the country added 140,000 jobs in September, down slightly from 142,000 in the previous month, while the unemployment rate remained unchanged at 4.2%. In addition, average hourly earnings will be looked at to determine the size of the rate cut by the Federal Reserve (Fed) at its next meeting in November. This, in turn, will play a key role in fuelling demand for the US Dollar (USD) and provide a meaningful boost to the USD/JPY pair.

Ahead of the key data release, investors lowered bets on more aggressive Fed policy easing amid signs of a still resilient US labour market. This sent the US Dollar Index (DXY), which tracks the dollar against a basket of currencies, to a one-month high on Thursday. In addition, lower bets for a Bank of Japan rate hike in 2024 as well as political uncertainty ahead of Japan's snap election on 27 October could undermine the Japanese Yen (JPY) and serve as a tailwind for the USD/JPY pair.

Nevertheless, spot prices continue to rise for the second week in the last three, and if the US employment data does not offer any negative surprises, the fundamental backdrop supports the prospects for further gains. At the same time, persistent geopolitical risks associated with ongoing conflicts in the Middle East and the risk of a full-scale war in the region may favour the yen. This may prove to be the only factor restraining bullish traders from aggressive bets on USD/JPY.

Trading recommendation: Trade predominantly with Buy orders from the current price level

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[Fresh Forex]

Fundamental Market Analysis for October 7, 2024 EURUSD
EURUSD:
​

The EUR/USD pair starts the new week on a subdued note and consolidates last week's significant losses to its lowest level since mid-August, achieved on the back of favourable US jobs data on Friday. The pair is currently trading around 1.0970.

The US Dollar (USD) is near a seven-week high as traders further reduced their bets on another significant interest rate cut by the Federal Reserve (Fed) in November on the back of unexpectedly strong US jobs data. The key NFP figure showed that the economy added 254k jobs in September, well above consensus estimates, while the unemployment rate unexpectedly fell to 4.1%. This was an indication that the US labour market remains robust, while higher than expected growth in average hourly earnings has revived inflationary concerns, dashing hopes for more aggressive easing policies from the Fed.

In fact, current market pricing points to a nearly 95 per cent probability that the Fed will cut borrowing costs by 25 basis points at the end of its two-day meeting on 7 November. In addition, persistent geopolitical risks stemming from ongoing conflicts in the Middle East have helped the US Dollar Index (DXY), which tracks the US Dollar against a basket of currencies, register its lowest week since September 2022. On the other hand, the euro continues to be undermined by bets that the European Central Bank (ECB) will cut rates again in October amid weakening inflationary pressures and slowing economic growth.

Expectations were confirmed by comments from ECB Governing Council member Francois Villeroy de Gallo, who said the central bank will cut rates in October as weak economic growth raises the risk of inflation falling short of its 2% target. This, in turn, is seen as another factor acting as a headwind for EUR/USD and supporting the prospects for further rate cuts in the near term. Thus, any recovery attempt can be seen as a selling opportunity and risks to quickly derail.

Trading Recommendation: We follow the level of 1.0940, in case of consolidation below we consider Sell positions.

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Elliott wave analysis of the market for 08.10.2024 EURUSD

EUR/USD. Expectations of a corrective uptrend remain.

​

The beginning of the trading week was quite sluggish. The price spent the whole day in a sleepy state, which accounts for the low activity that did not lead to any movements. In fact, the rate remained in the same place as in the last minutes of the Friday trading session. Apparently, all the interesting stuff has been postponed for some time. Given this, it is still assumed that the previous impulsive decline, which is part of some large correctional structure, has been completed.

The following stop, presumably, is an attempt by buyers to respond to this decline. In this regard, the price may rise in the near future along a zigzag trajectory.

Thus, it is possible to try to buy cautiously at current market values.

Investment idea: buy 1.0985, stop loss 1.0965, take profit 1.1040.

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[Fresh Forex]

Fundamental Market Analysis for October 9, 2024 USDJPY

Event to pay attention to today:

21:00 GMT+3. USD - FOMC Meeting Minutes

USDJPY:


​

The Japanese yen (JPY) saw some intraday selling on Tuesday, which helped the USD/JPY pair pause its modest pullback from its highest level since August the previous day. The latest data released on Tuesday showed a decline in real wages in Japan in August, following two months of growth. Additionally, there was a reduction in household spending, which has led to concerns about the resilience of private consumption and the potential for a sustained economic recovery. This development coincides with critical remarks from Japan's new Prime Minister regarding monetary policy, contributing to uncertainty surrounding the Bank of Japan's (BoJ) plans to raise rates further. In addition, the prospect of a ceasefire between Lebanon's Hezbollah and Israel has contributed to the decline in the perceived safety of the Japanese Yen in the lead-up to Japan's snap election on 27 October.

However, speculation that Japanese authorities will intervene in the currency market to support the national currency has prevented a more aggressive stance on the part of those betting on a decline in the yen. Furthermore, the weak demand for the US dollar (USD) prevented the USD/JPY pair from capitalising on the overnight rebound from the 147.35-147.30 area, resulting in a limited price range during Wednesday's Asian session. Furthermore, investors are adopting a wait-and-see approach ahead of the release of the minutes of the September FOMC meeting, scheduled for today. This data, along with the US Consumer Price Index (CPI) and Producer Price Index (PPI), will play a pivotal role in influencing the US dollar price dynamics in the near term and will help determine the next stage of directional movement of the currency pair.

Trade recommendation: Trading mainly by Sell orders from the current price level.

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[Fresh Forex]

Fundamental Market Analysis for October 10, 2024 EURUSD

An event to look out for today:

15:30 GMT+3. USD - Consumer Price Index

EURUSD:

​

EUR/USD fluctuated in a narrow range below 1.0950 during the Asian session on Thursday and consolidated recent strong losses to a near two-month low reached the previous day.

The US dollar (USD) is near its highest level since 16 August as traders assessed the possibility of another 50 basis points (bps) interest rate cut by the Federal Reserve (Fed) in November. Moreover, current market pricing indicates a more than 20 per cent probability that the US central bank will keep rates unchanged next month, and these expectations were confirmed by the hawkish FOMC meeting minutes released on Wednesday. As a result, US 10-year government bond yields will exceed the 4% threshold, which will support the quid and serve as a headwind for EUR/USD.

On the other hand, the euro currency continues to be pressured by growing confidence that the European Central Bank (ECB) will cut borrowing costs by 25bps at each of its two policy meetings before the end of the year. Moreover, the risk of further escalation of geopolitical tensions in the Middle East should favour the safe-haven US Dollar and indicate that the path of least resistance for EUR/USD lies to the downside. Traders, however, may refrain from new bearish bets and prefer to wait for the latest US inflation data before positioning themselves for further rate cuts.

The all-important US Consumer Price Index (CPI) will be released later in the North American session this Thursday, followed by the US Producer Price Index (PPI) on Friday. This data will play a key role in shaping expectations about the path of the Fed rate cut, which in turn will stimulate demand for the dollar in the near term and give new directional momentum to EUR/USD.

Trading recommendation: Trade mainly with sell orders at the price level of 1.0890.

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[Fresh Forex]

Fundamental Market Analysis for October 11, 2024 GBPUSD

An event to look out for today:

09:00 GMT+3. GBP - GDP Volume Change
15:30 GMT+3. USD - Unemployment Rate

GBPUSD:

​

The Pound-Dollar pair is unable to capitalize on a modest rebound from the 1.3020 area or the one-month low and has been fluctuating in a narrow range during the Asian session on Friday. Spot prices are currently hanging around the mid-1.3000 area, unchanged for the day, and seem vulnerable to a continuation of the recent corrective decline from the highest level since March 2022 reached last month.

US initial jobless claims data released on Thursday pointed to signs of weakness in the US labor market and suggested that the Federal Reserve (Fed) will continue to cut interest rates. This kept the US Dollar (USD) on the defensive below its highest level since mid-August and provided some support for the GBP/USD pair. Nevertheless, investors seem to have already fully appreciated the possibility of more aggressive Fed policy easing. These expectations were confirmed by the minutes of the September FOMC meeting and stronger than expected US consumer inflation data.

In addition, persistent geopolitical risks associated with ongoing conflicts in the Middle East serve as a tailwind for the safe-haven US Dollar and limit GBP/USD growth. From the latest developments: the Israeli army claimed to have killed the top commander of the Palestinian militant group Islamic Jihad in the Nur Shams refugee camp in the occupied West Bank. This, as well as market confidence that the Bank of England (BoE) may be about to accelerate its rate cut cycle, could continue to undermine the British Pound and keep the currency pair under control.

Market participants are now awaiting the release of UK macroeconomic data, including monthly GDP, to provide some momentum. However, the focus will remain on the US Producer Price Index (PPI), which will be released later in the North American session. In addition, on the economic front, the US will release preliminary data on the Michigan Consumer Sentiment Index and inflation expectations. This data, along with the speeches of influential FOMC members, will stimulate demand for the US dollar and allow traders to take advantage of short-term opportunities in the GBP/USD pair on the last day of the week.

Trading recommendation: Trade mainly with Sell orders from the current price level.

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[Fresh Forex]

Fundamental Market Analysis for October 14, 2024 EURUSD

EURUSD:

​

​

The Euro-Dollar pair extended declines to the 1.0920 level in the early Asian session on Monday. Risk aversion amid rising geopolitical tensions in the Middle East and conflicts between China and Taiwan is putting selling pressure on risky currencies such as the Euro (EUR).

On Monday, a US State Department spokesperson said that they have “serious concerns about People's Liberation Army (PLA) military exercises in the Taiwan Strait and around Taiwan”. They also said they would monitor the PRC's actions and coordinate with allies and partners on our shared concerns. Any signs of escalating tensions could increase safe-haven flows, which would favor the U.S. dollar and weigh on the major pair.

Traders expect a 25 basis points (bps) Federal Reserve (Fed) rate cut in November following the release of the U.S. Producer Price Index (PPI) on Friday. The CME FedWatch tool showed that the probability of a 25 bps Fed rate cut is almost 86.8%, up from 83.3% before the PPI data was released.

Overseas, the euro is under some pressure as the European Central Bank (ECB) is expected to cut interest rates further at both of its remaining monetary policy meetings this year. The ECB's softer stance has been reinforced by a faster-than-expected decline in Eurozone inflationary pressures and a “fragile” economic recovery.

Trading recommendation: Trade mainly with Sell orders from the current price level.

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[Fresh Forex]

Elliott wave analysis of the market for 15.10.2024 GBPUSD

GBP/USD. The price retains a certain potential for a corrective uptrend movement.

​

Nothing interesting, in terms of movements on the considered pair, is currently observed. The dollar is trying to push the course of the British currency even lower, but if anything happens, it is very insignificant. Chances are, the downward movement potential on this section of the price movement has been exhausted.

Buyers are preparing a response to their opponents. A corrective uptrend is expected in the near future, which may turn out to be quite good, considering the previously formed downward movement. It is also worth noting that the price is at the support level, which buyers will try to take advantage of.

Thus, it is still worth considering the current situation as a good opportunity to conclude buy deals.

Investment idea: buy 1.3065, stop loss 1.3045, take profit 1.3200.

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[Fresh Forex]

Fundamental analysis of the market for 16.10.2024 USDJPY

USDJPY:

​

Small bets on a Fed rate cut support the dollar and provide some support for USD/JPY.

The Japanese Yen (JPY) strengthened against its US counterpart on Tuesday and rolled back most of the previous day's losses to its lowest level since early August. Overnight declines in US equity markets, as well as lingering geopolitical risks, proved to be key factors that sent flows rushing towards the safe-haven yen. Nevertheless, uncertainty over the Bank of Japan's (BoJ) rate hike plans held back significant appreciation.

Adding to this, disappointing Japanese August Core Machinery Orders data is contributing to the JPY's decline in Wednesday's Asian session. Meanwhile, the US Dollar (USD) is holding near its highest level in over two months amid expectations that the Federal Reserve (Fed) will continue to moderate interest rate cuts over the next year. This is helping the USD/JPY pair to hold near the 149.00 level and making the JPY bulls cautious.

From a technical perspective, any further decline is likely to find decent support around 148.60-148.55. However, some follow-through selling could leave the USD/JPY pair vulnerable to further weakening below the 148.00 round figure and testing last week's low around 147.35. The latter is followed by 147.00, the break of which would mean that the recent gains seen over the past month have exhausted themselves and would open the way for deeper losses.

Trade recommendation: Following the level of 149.00, at fixation below consider Sell position, at rebound consider Buy position

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[Fresh Forex]

Elliott wave analysis of the market for 17.10.2024 EURUSD
​

EUR/USD. Another opportunity to change the situation.​

The euro is unable to start adequately resisting the attacks from sellers. Another trading day resulted in a decline, and with it, an update of the local price minimum. This development was expected and currently fits well into the considered wave picture. However, buyers need to start making an effort to somehow change the situation.
Currently, the supposed waves 3 and 5 are of equal length, and further decline will be detrimental to the current scenario. It is quite possible that from the current point, the long-awaited reaction will begin, and we will finally see the formation of a corrective uptrend movement.
Thus, it is recommended to try buying again at current market values.

Investment idea: buy 1.0870, stop loss 1.0845, take profit 1.1000.

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[Fresh Forex]

Fundamental analysis of the market for 18.10.2024 GBPUSD

GBPUSD:
​

The dollar bulls decided to lock in some profits, which, in turn, supports the pair.

An unexpected drop in UK inflation confirms bets on further rate cuts by the Bank of England and puts pressure on the British pound.

The GBP/USD pair is attracting some follow-through buying during the Asian session on Friday and looks to consolidate an overnight bounce from the 1.2975-1.2970 area, or a two-month low. Spot prices are currently trading in the 1.3020-1.3025 area, up 0.10% on the day amid a moderate decline in the US dollar (USD), although significant appreciation still seems unlikely.

In addition, the unexpected drop in the UK Consumer Price Index (CPI) to its lowest level since April 2021 and below the Bank of England's 2% target paves the way for further interest rate cuts. In fact, money markets are now pricing in the likelihood that the U.K. central bank will cut borrowing costs by 25 basis points (bps) at its upcoming meeting in early November and cut rates again in December, by more than 90%.

This could further deter traders from aggressively bullish bets on the British Pound (GBP) and help hold the GBP/USD pair. Hence, it would be prudent to wait for strong buying before confirming that the recent pullback from the 1.3435 area, or the highest level since March 2022 reached last month, has exhausted itself and positioning for further gains.

Trading recommendation: trade predominantly with Buy orders from the current price level

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You can find more analytical information on our website​

 

[Fresh Forex]

Fundamental analysis of the market for 21.10.2024 USDJPY

USDJPY:

​

The Japanese Yen (JPY) begins the new week on a modestly positive note against its US counterpart, with indications that it may build on Friday's recovery from its lowest level since early August. The JPY is receiving some support from recent verbal intervention from Japanese authorities. However, uncertainty over the timing and pace of further interest rate hikes by the Bank of Japan (BoJ) should limit any significant appreciation.

On Friday, BoJ Governor Kazuo Ueda cautioned that the outlook for Japan's economic recovery remains uncertain and underscored the importance of monitoring the impact of market volatility on the economy. This follows Japanese Prime Minister Shigeru Ishiba's unexpected remarks opposing further interest rate increases, indicating that the Bank of Japan will not hasten the implementation of additional policy measures in advance of Japan's general election on 27 October.

This, along with the prevailing risk sentiment, should provide support for the safe-haven yen. Meanwhile, expectations that the Federal Reserve (Fed) will continue to moderate interest rate cuts next year are keeping US Treasury yields high and limiting the US dollar's corrective fall from a two-month high. This could have the effect of further undermining the low-yielding Japanese Yen and supporting the prospects of dip-buying in USD/JPY.

Trade recommendation: Trading predominantly Sell orders from the current price level.

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[Fresh Forex]

Elliott wave analysis of the market for 22.10.2024 EURUSD

EUR/USD. The price is ready to grow.

​

Once again, buyers' attempt to somehow improve the situation in their favor failed. The price returned to the initial growth point and paused. Possibly, this way the development of a downward impulsive movement has been completed after all. Then today we may see buyers launching an attack on their opponents, trying to break the structure of the downtrend.

There is a feeling that this time everything will come together quite successfully. The price actually has very good chances to grow. But this movement is likely to be corrective in nature and, by default, it is expected to see the development of a zigzag.

Buy deals are recommended to be opened at current market values.

Investment idea: buy 1.0820, stop loss 1.0800, take profit 1.0950.

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[Fresh Forex]

Fundamental analysis of the market for 23.10.2024 GBPUSD

Event to pay attention to today:

21:45 GMT+3. GBP - BOE Governor Andrew Bailey Speaks

GBPUSD:

​

On Tuesday, the GBP/USD remained stable, testing the 1.3000 mark. The intraday price action tested a new nine-week low, while there was no upside trading above 1.3000. This leaves short-term momentum at a mid-range just below the key mark.

Bank of England (BoE) Governor Andrew Bailey delivered the first of four scheduled speeches this week. For the most part, Mr Bailey reiterated the stance taken in previous statements, although he did express regret at the Bank's complacency over recent financial stability risks.

With three further speeches by the Bank of England Governor scheduled for this week, market participants will be monitoring for any recurring themes in Governor Bailey's speech notes. On Wednesday evening, Bank of England Governor Bailey will deliver a speech, and on Thursday, market participants will focus on the UK Purchasing Managers' Index (PMI) data.

Analysts anticipate a modest decline in UK economic activity, with the October services PMI projected to decline from 52.4 to 52.2.

Trading recommendation: We follow the level of 1.3000, when fixing above it we consider Buy positions, when rebounding we consider Sell positions.

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[Fresh Forex]

Elliott wave analysis of the market for 24.10.2024 USDJPY

USD/JPY. Yen's last chance.

​

The assumption about the development of a correction in the form of a double zigzag, apparently, is erroneous. The dollar is confidently recovering, paying no attention to the yen's attempts to renew the so successfully begun counteroffensive.

However, the chance that the uptrend is corrective still remains. To do this, the entire growth can be represented as a flat, in which the final part-wave C is being formed, which has an impulsive character.

There is also a target level that buyers may strive for – this is 61.8% using Fibonacci retracement relative to the previously formed downward impulsive wave.

Thus, it is exactly somewhere near this level that opportunities for entering sell deals should be sought, until then, it is worth watching the development of events from the outside.

Investment idea: flat.

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You can find more analytical information on our website​

 

[Fresh Forex]

Fundamental analysis of the market for 25.10.2024 EURUSD

EURUSD:

​

On Thursday, the EUR/USD exchange rate made a partial recovery, rebounding by four-tenths of a percent to reach 1.0800. Despite a rebound at the end of the week, the Fibonacci retracement remains well below recent highs, having dropped by over four per cent from late September peaks near 1.1200.

The pan-European purchasing managers' index (PMI) data from HCOB on Thursday showed a mixed picture, with the October EU manufacturing PMI rising to 45.9 from 45.0 in the previous month, beating expectations of 45.1. Meanwhile, the October EU Services PMI declined to 51.2, down from the previous reading of 51.4 and below the projected increase to 51.6.

The euro's presence on this week's economic data list is limited, with only marginally significant data scheduled for release on Friday. Markets will have to contend with US durable goods orders and an update on expectations for 5-year consumer inflation from the University of Michigan (UoM). It is anticipated that US Durable Goods Orders will decline by 1.0% in September compared to the previous month, representing a continuation of the recent downward trend observed in August, when there was a 0.0% drop. The October 5-year UoM consumer expectations are expected to be in line with the previous reading of 3.0%.

Trading recommendation: Trading predominantly Buy orders from the current price level.

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You can find more analytical information on our website​

 

[Fresh Forex]

Fundamental analysis of the market for 28.10.2024 GBPUSD

GBPUSD:
​

The GBP/USD pair started the new week on a weaker note and is trading around 1.2960-1.2955. Spot prices, however, remain within striking distance of the lowest level since August 16, near 1.2900 reached last week, and appear vulnerable to an extension of the month-long downtrend amid a bullish US Dollar (USD).

On Friday, the U.S. Census Bureau reported that U.S. Durable Goods Orders fell 0.8% in September, which was slightly better than expectations of a 1% decline. Additional details of the report showed that new orders excluding transportation costs rose 0.4% in the reporting month. In addition, the University of Michigan's consumer sentiment index hit a six-month high of 70.5 in October, which was better than both the preliminary result and the previous month's reading.

This data supports the view that the Fed will continue to moderate rate cuts throughout the year, which in turn triggers a new rise in US Treasury yields and continues to support the dollar. The British Pound (GBP), on the other hand, is weakened by rising bets on further interest rate cuts by the Bank of England (BoE) in November and December, backed by a drop in the UK Consumer Price Index to its lowest level since April 2021 and below the central bank's 2% target.

The aforementioned fundamental backdrop suggests that the path of least resistance for the GBP/USD pair lies to the downside. Even from a technical perspective, recent repeated failures near the psychological 1.3000 mark support the prospects of a continued decline from the 1.3435 area, or the highest level since February 2022, reached last month.

Trading recommendation: Trade predominantly with Sell orders from the current price level.

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You can find more analytical information on our website​