Day: March 4, 2023

TitleGBPUSD, H4 | Bounce from swing low support? TypeBullish Bounce Preference:Price has started to bounce really nicely on GBPUSD at the 1.1924 level which is a multiple swing low support. There’s a chance price might make a bounce up towards our 1st resistance level at 1.2134 which is a multiple swing high resistance. Alternative scenario:If […]

TitleUSDCAD, H4 | Double top reversal? TypeBearish Reversal Preference:We’re seeing price break a strong support-turned-resistance level at 1.3571 which is an overlap support along with a 23.6% Fibonacci retracement. This could trigger a bigger move down to major support at 1.3518 which is a pullback support + 38.2% Fibonacci retracement. Alternative scenario:If prices were to […]

Today, market participants’ focus is on the ISM’s US non-manufacturing activity index. Services account for more than 70% of US employment, so activity in this sector is more closely correlated with US economic growth rates. There is still uncertainty as to whether the Fed will back away from its January communication (which implied policy should […]

Morgan Stanley has upped their guess for the terminal peak rate of the European Central Bank in its latest central bank policy outlook, forecasting that the key interest rate in the eurozone will go up to 4% this year.  Before, they were thinking it would be 3.25%, but they changed their minds because of mounting […]

TitleDAX, H1 | Could we see a short term reversal? TypeBearish Reversal Preference:We’re seeing price rise towards a strong multi-swing high resistance at 15502  – price seems to have reacted off this level multiple times in the past. If a reversal occurs here, we could see prices drop down to our 1st support at 15412 […]

Daily Technical Trade Setups for DXY, EURUSD & FTSE To access today’s actionable analysis, click here! Source: Tickmill