Daily Market Forecast By Capitalcore

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GBPUSD H4 Chart Indicators Outlook and Forecast

The GBPUSD forex pair, often referred to as "Cable," is a major currency pair that represents the British Pound against the US Dollar. This pair is widely traded in the forex market, and its movements are influenced by economic factors from both the UK and the US. Traders keep a close eye on it, especially when significant economic data or central bank announcements are expected.
For today's fundamental outlook on Cable, the upcoming releases from the Bank of England are highly anticipated by traders. The central bank's hawkish stance is expected to positively impact the GBP, especially if the Monetary Policy Committee (MPC) members vote for an interest rate hike or lean toward tightening policies. Insights from the minutes of the MPC meeting and the inflation letter due to CPI fluctuations will provide critical clues about the UK's economic health. On the US side, Treasury International Capital (TIC) flows and Philadelphia Fed Business Outlook Survey may affect the dollar, especially if demand for domestic securities surges, or if manufacturers display confidence in business conditions. Both of these indicators are pivotal for USD valuations in the coming trading sessions.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the Cable’s attached H4 chart, we can see a bullish trend for GBP/USD with a combination of both bearish and bullish candles, but the overall movement shows price appreciation. The Ichimoku Cloud, which acts as a dynamic support and resistance level, confirms the bullish outlook, with the price currently above the cloud. Furthermore, the pair trades between the 0.786 and 1 Fibonacci retracement levels, which signals potential resistance around the upper level. The MACD indicator shows a bullish divergence, with the histogram reflecting increasing buying momentum, suggesting the upward trend could continue. However, traders should remain cautious as minor corrections are still possible.

• 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]

EURGBP H4 Technical Analysis: Bearish Trend in Focus

The EURGBP currency pair, often referred to by traders as "Chunnel" or the "Euro-Pound," represents the exchange rate between the Euro and the British Pound. Euro-Pound price is influenced heavily by macroeconomic data from both the Eurozone and the United Kingdom. For today, Euro news includes the Producer Price Index (PPI) and Consumer Confidence Index, both serving as important indicators of inflation and economic sentiment. ECB President Christine Lagarde's speech at the Michel Camdessus Central Banking Lecture could also provide key insights into future monetary policy, which may influence the Euro. On the UK side, news surrounding consumer confidence and retail sales will be critical in shaping market sentiment. With both regions facing inflationary pressures, today's data releases and speeches are expected to heighten volatility in the EURGBP pair.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the EURGBP H4 chart, we can observe that the pair has been in a bearish trend, with four bullish candles out of the last eleven. The price has declined from the upper Bollinger Band to the middle band and touched the lower band, indicating increased volatility. After bouncing off the lower band, the last two candles have turned bullish, suggesting a potential short-term recovery. Currently, the Chunnel’s price is trading between the 1.0 Fibonacci level and the 0.786 level, highlighting a potential area of support. The RSI stands near the oversold zone, signaling that the bearish momentum may be weakening, and a bullish reversal could be imminent. Traders should watch for the price movement between these critical Fibonacci levels and observe the RSI for any divergence, which could provide further confirmation of a trend reversal.

• 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]

EURUSD Daily Chart Technical Overview and Indicators

The EURUSD forex pair, often referred to by its nickname "Fiber," represents the trading relationship between the Euro and the U.S. Dollar, the two most traded currencies globally. This currency pair is heavily influenced by macroeconomic factors from both the Eurozone and the United States, making it a favorite among traders for its high liquidity and volatility. The upcoming release of Purchasing Managers' Index (PMI) data from the Eurozone today and the economic outlook discussion by key Federal Reserve members in the U.S. are likely to influence market sentiment and drive volatility in the pair.
The upcoming S&P Global PMI data for both manufacturing and services in the Eurozone is critical, as values above 50 indicate expansion, boosting the Euro, while values below 50 suggest contraction, leading to potential weakness. Similarly, speeches from Federal Reserve officials such as Raphael Bostic and Austan Goolsbee could hint at future monetary policy directions, especially if hawkish tones are observed, which would strengthen the U.S. Dollar. If the Euro PMI surprises to the upside, it could help push EUR USD price higher; conversely, stronger-than-expected comments from Fed officials might weigh on the Euro.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the H4 chart of EUR/USD, the pair has been in an upward trend recently, trading within the upper half of the Bollinger Bands. While the price touched the upper band, it has pulled back slightly over the last few candles, with the most recent candle being bearish. The price is currently hovering between the middle and upper Bollinger Bands, indicating that the pair may still maintain its bullish bias as long as it remains above the middle band. Moreover, the price is oscillating between the 0 and 0.236 Fibonacci retracement levels, suggesting a consolidation phase after recent gains.
The MACD indicator shows a weakening bullish momentum, with the histogram declining and the MACD lines appearing close to a potential bearish crossover. This could indicate short-term bearish pressure. However, as long as the price holds above key Fibonacci support levels, particularly around the 0.236 retracement, the bullish outlook might still prevail. Traders should closely monitor a potential breakout or breakdown of these levels to gauge the next significant price movement.

• 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
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BTC/USD Price Forecast: Bullish Momentum within Channel

The BTC/USD pair has been trading within a well-defined bullish channel, as seen in the recent price action on the H4 chart. After a steady upward movement, the price has now entered a correction phase and is currently testing a key support zone near $63,273. This level represents a critical area to watch as the price approaches the lower bound of the ascending channel, offering a potential bounce-back point. Traders observing BTC price analysis and BTC/USD technical setups should note that the RSI is approaching neutral territory, suggesting that the recent bearish correction might be nearing its end.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
From a technical perspective, a hold above this support zone could indicate a continuation of the broader bullish trend. Should BTC/USD maintain support at current levels, there is a strong possibility of further upward movement towards $66,000 and beyond. However, a break below the channel could trigger a deeper pullback. For those monitoring BTC exchange rates and seeking insights into BTC price forecasts, this critical juncture in the price movement offers significant opportunities for both bulls and bears alike. Stay vigilant for further developments as the market consolidates within this key price range.

• 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]

USDCHF Bullish Outlook with Strong Economic Data

The USD/CHF currency pair, commonly referred to as the "Swissie," represents the exchange rate between the US Dollar (USD) and the Swiss Franc (CHF). This pair is influenced by global economic events and interest rate differentials between the US and Switzerland. Today’s market focus is on upcoming US economic data releases and Federal Reserve statements, which are expected to impact the USD. With US Federal Reserve Governor Adriana Kugler due to speak about the economic outlook, traders are watching for any signs of hawkish policies that could support the USD. Additionally, key economic indicators like the GDP data and jobless claims are expected to provide a clearer picture of US economic health. If these releases come out stronger than forecast, the USD could see a bullish reaction, lifting USD/CHF higher. Meanwhile, the Swiss National Bank’s previous stance on maintaining strict monetary policies provides ongoing support to CHF, but attention remains on future SNB meetings for potential policy shifts.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the uploaded H4 USD/CHF chart, technical indicators support a bullish outlook. The price has shown a sharp upward trend with five consecutive bullish candles, bouncing from the lower Bollinger Band and approaching the upper band, which aligns slightly above the 0.786 Fibonacci retracement level. The current price lies between the 0.618 and 0.786 Fib levels, indicating that it is testing resistance. Bollinger Bands suggest expanding volatility, while the MACD histogram shows an increasing bullish momentum with the lines crossing into positive territory, signaling potential for further upside. Traders should monitor whether the price breaks above the upper Bollinger Band, which could signal continuation, or if it meets resistance near the 0.786 Fib level.

• 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]

GBPUSD H4 Chart Bullish Momentum Outlook

The GBP/USD currency pair, commonly known as "Cable," represents the exchange rate between the British pound and the US dollar. This pair is widely traded in the forex market due to the economic strength of both countries. Today's GBP USD fundamental analysis hinges on key economic data from both the UK and the US, with particular attention to the Confederation of British Industry's (CBI) Distributive Trades Survey for the UK and multiple reports from the US, including a speech by Federal Reserve Governor Lisa Cook and the release of key personal consumption and trade data.
Fundamentally, GBPUSD could see volatility driven by these news events. Positive UK CBI data may boost the pound if sales volumes are better than forecasted, signaling consumer strength in the British economy. In contrast, the US dollar could strengthen if Federal Reserve Governor Lisa Cook gives hawkish signals about future monetary policy, or if consumer spending and trade data exceed expectations. Traders will focus on both countries' economic health, where strong US data could continue to support the dollar, while any weakness may allow the pound to rise against it, especially if UK retail figures outperform.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In terms of technical analysis, the H4 chart for GBP/USD reveals a bullish trend. The price is moving within a rising channel and is positioned in the upper half of the Bollinger Bands, nearing the upper band, which often indicates strong bullish momentum. The price is also sitting between the 0.786 and 1 Fibonacci retracement levels, suggesting that it is approaching a critical resistance zone. Additionally, the RSI indicator shows the pair is not yet overbought but is approaching higher levels, suggesting that the bullish trend still has room to run before a potential reversal. Traders should watch for a breakout or rejection at these key Fibonacci levels, especially as fundamental news unfolds.

• 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