Day: March 29, 2023
The Japanese yen against the US dollar on Wednesday is declining moderately. The current quote is 131.79. In his speech today, the acting head of the Bank of Japan Haruhiko Kuroda mentioned that the country had come closer to the inflation target of 2% than before. At the same time, wages are getting under more […]
EURUSD on Wednesday keeps growing. The current quote is 1.0840. As long as investors are calming down about the prospects of a banking crisis in the US and Europe, the start paying more interest to EURUSD. According to the statistics from yesterday, the Conference Board CCI in the US in March grew to 104.2 points […]
EURUSD, “Euro vs US Dollar” The currency pair goes on developing a consolidation range around 1.0830. The range could extend to 1.0860. Then we expect a decline to 1.0770. And if this level breaks as well, a pathway down to 1.0690 could open. The target is local. GBPUSD, “Great Britain Pound vs US Dollar” The […]
USDJPY, “US Dollar vs Japanese Yen” On H4, USDJPY quotes are under the 200-day Moving Average, which means the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, the level 4/8 (131.25) could break downwards, and the price could fall to the support level 2/8 (128.12). The scenario can be […]
TitleGBPUSD, H4 | Potential bearish reversal TypeBearish Reversal Preference:Price is approaching our pivot level of 1.23439 and could reverse from here, we could see momentum move price down to its 1st support of 1.22137. Alternative scenario:If price breaks above the pivot level, it could hit the 1st resistance of 1.24257. To discuss this trading idea, […]
TitleWTI H4| Fibonacci Confluence TypeBearish Reversal Preference:The price is currently at our pivot level of 78.04, which coincides with an overlap resistance, the 50% Fibonacci retracement, and the 78.6% Fibonacci projection. If it drops, 1st support level is at 74.77, which also aligns with the 50% Fibonacci retracement Alternative scenario:On the other hand, if price […]
XAUUSD, “Gold vs US Dollar” Near the support level, Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the growth could be 2000.00. Upon testing the resistance, the price will get the chance to break it and continue the uptrend. However, […]
The BTC on Wednesday is balancing near 28,080 USD. The leading cryptocurrency has recovered from a crash at the beginning of the week. The market did not retreat and kept safe an important support level. This let the market return to buying fast. The quotes need to secure above 28,120-28,125 USD to reach the target […]
Daily Market Outlook, March 29, 2023 Banking Musical Chairs, Ermotti To Return As UBS Head, To Steady The Ship Asian equity markets mainly in the green on the session following a somewhat benign range bound session on Wall Street given the lack of macro catalysts as investors position for quarter end. The standout performer overnight […]
Market volatility continues to decrease as the S&P 500 VIX (also known as the “fear index”) dropped to 21 points, the lowest level since March 9th. It’s worth noting that this was around the time when the first news related to SVB Financial started to emerge: The two key culprits of recent instability in European […]