Daily Market Forecast By Capitalcore

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EUR/USD Forex Pair Outlook: H4 Chart Insights

The EUR/USD forex pair, often called the "Fiber," is one of the most widely traded currency pairs globally, representing the strength of the Euro against the U.S. dollar. Forex traders closely watch macroeconomic indicators from both economies, including inflation, interest rates, and economic growth metrics, as they are key drivers of EURUSD market movements. Today, a key focus for EUR USD traders is the Purchasing Managers’ Index (PMI) from both the Eurozone and the U.S. A PMI reading above 50 for the Eurozone indicates economic expansion, while a figure below 50 would signal contraction, likely affecting the euro's strength. Meanwhile, U.S. labor data, particularly the jobless claims report, can influence the dollar depending on how the figures compare to market forecasts.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
On the EURUSD H4 chart, the pair’s price action shows a clear downtrend within a descending channel. The last five candles have displayed mixed momentum, with three bullish green candles followed by two bearish red candles. The Parabolic SAR dots are positioned above the price, indicating continued selling pressure and the Fiber’s bearish outlook. Additionally, the MACD indicator is showing a bearish bias, with the histogram in negative territory and both the MACD and signal lines trending downward. This suggests that the bearish momentum may persist in the near term as long as the price remains under pressure from both the Parabolic SAR and the weakening MACD.

DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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USD/CAD Bullish Momentum on H4 Chart

The USD CAD currency pair, also known as the "Loonie," represents the exchange rate between the US dollar (USD) and the Canadian dollar (CAD). As a major forex pair, it is influenced by a variety of economic factors from both countries, including energy prices, monetary policies, and economic data releases. The Loonie pair is often traded by investors looking to capitalize on the strength or weakness of the US dollar relative to the Canadian dollar, with a particular focus on macroeconomic trends and oil price fluctuations.
Today's economic calendar includes significant data releases such as the US Non-Farm Payrolls (NFP) and Unemployment Rate, which are likely to have a strong impact on USD performance. An increase in NFP or a lower-than-expected Unemployment Rate would bolster the USD, potentially pushing USDCAD price higher, while weaker-than-expected data could weigh on the currency. Meanwhile, Canada’s Ivey PMI, a key gauge of business conditions, is also in focus. A stronger-than-forecast reading from the PMI would be bullish for the CAD, potentially limiting any USD strength. Additionally, hawkish comments from John Williams of the Federal Reserve could boost the dollar as traders anticipate tighter monetary policy in the future. All these factors create a high level of volatility in the USD/CAD market, making today a key moment for traders of the pair.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
On the technical side, the USD/CAD H4 chart shows a clear bullish trend, with 8 of the last 10 candles closing in the green. The price is currently testing the 0.382 Fibonacci retracement level at 1.35534, with bullish momentum pushing towards higher levels. The MACD histogram is showing increasing bullish momentum, and the MACD lines are in the process of a bullish crossover, signaling continued upward pressure. The Awesome Oscillator (AO) is also positive, reinforcing the bullish sentiment. The USD/CAD price is trading within a rising channel, indicating a steady uptrend, and if it breaks through the 0.382 Fibonacci level, the next resistance is likely at the 0.236 level around 1.35800. Overall, the chart signals potential further upside, but the 1.35534 level remains a crucial hurdle for bulls to overcome.

DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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[Capitalcore]

USDJPY Daily Chart Technical Setup and Indicators

The USD/JPY forex pair, commonly known as the "Gopher," is one of the most actively traded pairs in the forex market, linking the U.S. dollar and the Japanese yen. It is highly sensitive to changes in U.S. monetary policy and Japanese economic data, making it a key indicator of the strength of the two largest economies. With the Federal Reserve expected to discuss potential hawkish adjustments in upcoming events today, including Federal Reserve Governor Michelle Bowman's participation in the Independent Bankers Association of Texas Annual Convention and Neel Kashkari's fireside chat, traders are keen to monitor any signals regarding future interest rate hikes. Increased hawkish sentiment could boost the USD, while dovish remarks could cause the USD/JPY pair to retract.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
On the technical side, the USD/JPY H4 chart shows strong bullish momentum as the price is positioned near the upper Bollinger band, indicating a sharp upward movement. The Bollinger bands have widened, signaling increased market volatility, while the price has been climbing at a steep 50-degree angle. The Fibonacci retracement levels highlight key areas of support and resistance, with the price trading between the 0 and 0.236 Fibonacci levels, suggesting that the price could be testing higher resistance. The MACD histogram also shows bullish sentiment, with a positive MACD line crossing, further reinforcing the upward momentum. However, traders should remain cautious for any possible corrections as the price approaches significant resistance levels.

DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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Key Support and Resistance Levels for XAU/USD

The XAU/USD pair represents the price of gold in terms of the U.S. Dollar. Gold, often referred to as a safe-haven asset, plays a crucial role in global markets, particularly in times of economic uncertainty. The pair is actively traded by investors looking to hedge against inflation, economic instability, or as part of broader portfolio diversification strategies.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The 4-hour chart of XAUUSD shows the price consolidating within a symmetrical triangle pattern, indicating a period of indecision in the market. This triangle is formed as the price makes lower highs and higher lows, compressing into a smaller range. Both the Ichimoku Cloud and the RSI indicators are signaling mixed momentum, with the price hovering near key support levels. The RSI at 44.99 suggests neutral momentum, with room for further movement in either direction, while the cloud reflects mild bullish support but not strong enough to confirm a clear uptrend.
If the price breaks above the upper trendline of the triangle, it could signal a bullish continuation, potentially targeting the $2,650 level. Conversely, a break below the lower boundary could push the price toward the support near $2,600 or even lower. Traders are likely waiting for a breakout from this consolidation phase, as the current setup suggests an impending move, but the direction remains uncertain until confirmation.

DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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[Capitalcore]

EUR/USD Forecast: Impact of Fed and ECB Policies

The EUR/USD forex pair, often referred to as "Fiber," is one of the most liquid and widely traded currency pairs in the world, reflecting the economic relationship between the Eurozone and the United States. Traders closely watch both the European Central Bank (ECB) and the Federal Reserve for monetary policy decisions that impact this pair. Today, EUR news from Destatis on the trade balance is expected to influence the EURUSD market sentiment, as a positive number could boost the Euro. Meanwhile, a series of speeches from key Federal Reserve members, including Philip Jefferson and Raphael Bostic, could provide insights into the future direction of U.S. interest rates, with any hawkish tone likely to support the USD, putting pressure on the Fiber’s exchange rate.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the uploaded EUR/USD H4 chart, the MACD shows signs of the pair’s weakening bearish momentum, as the histogram bars have reduced in size, signaling a possible shift in its market sentiment. Although the MACD line remains below the signal line, the reduction in downward pressure indicates that the bearish trend might be slowing down. Additionally, the Stochastic RSI is in overbought territory, suggesting that the recent upward correction may be nearing exhaustion, and a potential reversal to the downside could be on the horizon. Together, these indicators point to a cautious EUR/USD technical outlook, with the possibility of a bearish continuation if overbought conditions persist.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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[Capitalcore]

AUDUSD H4 Chart Hints at Potential Reversal

The AUD/USD forex pair, commonly referred to as the "Aussie," is a popular forex pair that reflects the exchange rate between the Australian Dollar (AUD) and the US Dollar (USD). The Aussie is heavily influenced by commodity prices, particularly metals and energy, as Australia is a major exporter of these resources. Additionally, the AUD USD pair is sensitive to economic data and central bank policy statements from both the Reserve Bank of Australia (RBA) and the Federal Reserve (Fed).
Fundamentally, the upcoming news impacting AUDUSD includes hawkish expectations from Federal Reserve officials and key inflation data from the US. Traders will closely monitor speeches by Federal Reserve representatives, as their comments may hint at future interest rate decisions. Any signs of more aggressive monetary tightening from the Fed could boost the USD, putting further downward pressure on the AUDUSD candles. Additionally, Australian consumer inflation expectations, released by the Melbourne Institute, could provide insights into potential inflationary pressures, influencing the RBA's rate decisions.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The AUD/USD forex pair has been in a clear bearish trend, as shown in the Aussie’s H4 chart. Over the last 16 candles, 6 of them are green, indicating selling pressure. The price has moved from the 0.618 Fibonacci retracement level and is approaching the 0.786 level, suggesting further downside potential. The Ichimoku cloud confirms the bearish sentiment, with the AUD USD price trading below the cloud, indicating sustained downward momentum. However, the MACD and histogram show a weakening in bearish momentum, and the last candle is currently positive, signaling a potential pause in the downtrend or a possible bullish reversal. Traders should watch if the Aussie’s price can break above the downward channel for further confirmation of a shift in momentum.

DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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[Capitalcore]

Trading GBPUSD H4 bearish trend with key indicators

The GBP/USD forex pair, also known as "Cable," is one of the most traded currency pairs in the forex market, representing the British Pound against the US Dollar. Its movements are heavily influenced by economic data releases from both the UK and the US. Today, key UK economic events such as the Gross Domestic Product (GDP) release, construction output, and the trade balance are set to impact the British Pound. Similarly, the US PPI data and speeches from Federal Reserve members will likely drive market sentiment for the US Dollar. A stronger-than-expected UK GDP could offer short-term support for the Pound, while hawkish comments from the Federal Reserve could strengthen the Dollar and maintain downward pressure on GBPUSD chart.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
On the GBP USD H4 chart, the price remains in a clear bearish trend, trading below the 50% Fibonacci retracement level, which suggests continued downside pressure. The Bollinger Bands have tightened, indicating lower volatility but hinting at a potential breakout. Price is primarily moving within the lower and middle bands, showing that it is struggling to regain upward momentum. Despite green bullish histogram candles from the MACD, the overall price movement is downward. The MACD line remains below the signal line, reinforcing the bearish outlook. With Cable’s price action nearing the 0.5 Fibonacci level, a further drop towards the 0.618 Fibonacci level could be expected unless bullish momentum builds up significantly.

DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

Capitalcore

 

[Capitalcore]

Key Technical Indicators for NZDUSD H4 Chart

The NZD/USD currency pair, also known as the "Kiwi," reflects the exchange rate between the New Zealand Dollar (NZD) and the US Dollar (USD). It is highly influenced by economic factors in both New Zealand and the US, including interest rates, central bank policies, and global commodity markets. Today, RBNZ Governor Adrian Orr's speech on improving Maori access to capital in Taupo will be closely monitored for any clues about future interest rate moves, which could impact NZD strength. On the USD side, Columbus Day in the US could result in lower market liquidity, while speeches from Federal Reserve officials like Neel Kashkari and Christopher Waller could introduce some volatility if hawkish comments on inflation or future rate hikes are made. Overall, volatility may remain higher than usual for NZD USD fx traders given these events.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the NZDUSD H4 chart, price action is currently showing signs of recovery after a bearish streak, with 6 of the last 15 candles being red. The Bollinger Bands indicate a bullish movement as the price has moved from the lower half toward the middle band, currently hovering around the middle band and attempting to break higher. The NZDUSD price is trading between the 0 and 0.236 Fibonacci retracement levels, suggesting a potential retracement to higher levels if the bullish momentum continues. The MACD shows a bullish crossover, with the MACD line rising above the signal line, supported by increasing bullish histogram bars, reinforcing the short-term bullish outlook. However, the Kiwi’s price faces resistance at the 0.61337 level, as seen in today’s h4 chart, and breaking above this could lead to further gains.

DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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[Capitalcore]

GBPCAD Forecast: Impact of UK Inflation Data

The GBP/CAD currency pair, often referred to as "The Beast" due to its volatility, involves the British Pound (GBP) and the Canadian Dollar (CAD). This pair’s news analysis is influenced by both the UK's macroeconomic factors and the price of oil, which impacts the Canadian economy heavily. With today's upcoming news on the UK’s Consumer Price Index (CPI) and Producer Price Index (PPI), both of which are key inflation indicators, traders are likely to monitor how these reports could affect the Bank of England's stance on monetary policy. If the actual figures come in higher than expected, the GBP could see a boost due to potential interest rate hikes aimed at controlling inflation. On the CAD side, data from Canada’s housing sector and manufacturing sales will also be significant, as strong numbers here could bolster the Canadian dollar.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
As for the pair’s technical analysis, examining the GBP/CAD H4 chart and the MACD indicator highlights its recent price movements. The last five candles have moved from the lower part of an upward channel towards the middle, showing three consecutive green candles followed by two red ones. This shift suggests a weakening of the GBPCAD bullish trend. The MACD indicator is also showing signs of bearish momentum, as the lines converge, and the histogram reflects decreasing upward momentum. The overall pattern suggests that while the price has pulled back slightly, it remains within the channel and could either continue downwards or find support for a bullish rebound depending on upcoming economic data.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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