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On the hourly chart, the GBP/USD pair continued to trade horizontally on Wednesday. The Fibonacci level of 50.0%–1.2464 is currently being ignored by traders as a new sideways channel.
EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686
In my morning article, I paid attention to the level of 1.0686 and planned to make decisions on entering the market from there. Let's look at the 5-minute chart.
EUR/USD and GBP/USD: Technical analysis on April 18
The monthly boundary of 1.0611 is still the most important obstacle for developing bearish sentiment on this section of the chart. Yesterday, in the process of testing the monthly support.
The Fed and global instability: a double blow to American markets
United Airlines profits on upbeat second-quarter earnings forecast Travelers shares fall as first-quarter profits fall Fed Beige Book Shows Small Increase in Economic Activity Indices are down: Dow 0.12%, S&P.
Technical Analysis of Daily Price Movement of GBP/USD Main Currency Pairs,Thursday April 18 2024.
Based on what can be seen on the daily chart, the main currency pair GBP/USD seems that in the near future the Cable has the potential to strengthen upwards again.
Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday April 18 2024.
Even though currently on the 4-hour chart the Nasdaq 100 index has a Death Cross crossing between the 50 and 200 MAs, the appearance of the Descending Broadening Wedge pattern.
Forecast for EUR/USD on April 18, 2024
EUR/USD Yesterday, the euro was up 0.49%, while the S&P 500 dropped 0.58%, gold fell 1.04%, and yields on US government bonds decreased. Even Israel's statement about a pending "retaliatory".
Outlook for GBP/USD on April 18. Pound was not impressed by the inflation data
GBP/USD continued to trade sideways on Wednesday. Volatility remains weak, and traders took a break after leaving the 4-month sideways channel. The price is currently 80 pips below the channel.
The FOMC will not lower rates in 2024
As we have already mentioned, it no longer makes sense to expect a rate cut from the Federal Reserve. The latest inflation report exceeded the target mark almost twice.
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This section is updated daily and contains market analysis prepared by professional analysts on behalf of InstaForex. Each of the specialists presents analytical reviews in accordance with his/her vision of the current situation on the foreign exchange and other markets. However, the outlooks below are neither recommendations nor instructions to any actions. They contain analysis of the current situation on financial markets. In some cases, analysts' opinions about current market conditions may differ.