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USDPLN Forecast – 15-August-2024

FxNews—The U.S. Dollar downtrend resumed, trading at about 3.881 against the Polish Zloty. This mark is the lowest price in 2024, aligning with the 2023 all-time low. The USD/PLN weekly chart below depicts the price and the 2023 all-time low, the key resistance to the bear market.

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EURUSD Technical Analysis – 22-August-2024

FxNews—The European currency has been in an uptrend against the U.S. Dollar since June 9 from the $1.066 mark. The robust buying pressure exceeded yesterday’s trading session’s December 12, 2023 high, 1.113. As of writing, the EUR/USD currency pair trades slightly below 1.113, testing the December 2023 all-time high.

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USDJPY Technical Analysis – 26-August-2024

FxNews—The U.S. Dollar turned bearish against the Japanese Yen after the price tested the %38.2 Fibonacci resistance level on August 15. As of writing, the USD/JPY currency pair trades bearish at about 143.7, below the 23.6 Fibonacci.

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USDCHF Technical Analysis – 30-August-2024

FxNews—The U.S. Dollar has been in a bear market against the Swiss Franc since the May 1 high at 0.922. The bear market and the selling pressure eased this week after the USD/CHF exchange rate dipped to 0.843, the August 4 low.

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USDSGD Forecast – 5-August-2024

FxNews—The U.S. dollar trades are bearish against the Singapore dollar at about 1.302 in today’s trading session. The USD/SGD currency pair tested the 1.310 resistance on September 3 but failed to surpass it, which is in conjunction with the 100-period simple moving average.

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Bitcoin Technical Analysis – 6-September-2024

FxNews—Bitcoin trades in a bear market at approximately $55,780 in today’s trading session. Meanwhile, the stochastic oscillator signals an oversold BTC/USD daily chart market.

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Ripple Technical Analysis – 6-September-2024

FxNews—Ripple downtrend slowed when the price reached the %50 Fibonacci retracement level at $0.531. As of this writing, the XRP/USD trades at approximately $0.542.​

 

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Crude Oil Technical Analysis – 9-September-2024

FxNews—WTI Crude Oil is in a robust downtrend. On Friday, it tested the December 2023 low at $67.6. The intense selling pressure has driven the stochastic oscillator into oversold territory on the daily chart.

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GBPUSD Technical Analysis – 12-September-2024

FxNews—The pound sterling has been bearish against the U.S. Dollar since August 27 ($1.326). The downtrend eased on Wednesday when the GBP/USD price dipped to as low as 1.3; the currency pair is currently trading at approximately 1.306.

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GBPJPY Technical Analysis – 13-September-2024

FxNews—The British Pound trades in a bear market against the Japanese Yen at approximately 184.9. The new bearish wave began from the %50 Fibonacci retracement level at 194 and extended to 183.7, the September 11 low.

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Bitcoin Technical Analysis – 14-September-2024

FxNews—The Bitcoin bullish momentum that began at $52,670 has extended to the August 29 high ($61,190), above the 100-period simple moving average. As of this writing, the BTC/USD pair trades at approximately $59,700. Meanwhile, the stochastic oscillator and the relative strength index indicator signal overbought.

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Ripple Technical Analysis – 16-September-2024

FxNews—Ripple (XRP) closed above the 100-period simple moving average on September 12 and successfully tested the August 27 high at $0.598. As of this writing, the XRP/USD pair is consolidating near the 100-SMA at approximately $0.571.

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USD/JPY Bear Market Explained

FxNews—The immediate resistance is at 140.3, and the market condition is oversold. Hence, it is advisable to wait patiently for the USD/JPY price to consolidate near the upper line of the descending channel, around 143.4.

Furthermore, the downtrend will likely be triggered again if the descending trendline holds. If this scenario unfolds, the next bearish target could be the 137.2 level.

Please note, the bearish market would be invalidated if the USD/JPY price exceeds the 146.8 level.​

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