Day: March 30, 2023
The British pound against the US dollar remains ready to grow. The current quote is 1.2316. The British statistics from yesterday demonstrated that the net volume of loans given to individuals in February had dropped to 2.2 billion GBP from 3.7 billion GBP previously. At the same time, the number of mortgage permits had grown […]
Silver is gradually approaching the resistance at the level of 24.75. The asset might eventually face this resistance, pull back from it, and drop to the level of 22.40. Now, it would be good to follow the candlestick formations, which may forecast the next move of silver. American stock index S&P 500 is heading towards […]
TitleUSDCAD H4 | Potential Bullish Reversal TypeBullish Bounce Preference:Price is currently at our pivot at 1.35667 which is an overlap support along with 50% Fibo retracement. If price were to reverse, it could push up to 1st resistance at 1.36822 which is a swing high resistance along with 50% Fibo retracement. Alternative scenario:On the other […]
USDCHF, “US Dollar vs Swiss Franc” On H4, USDCHF are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI have rebounded from the resistance line. In this situation, we should expect the price to test the level of 2/8 (0.9155), break it, and fall to the support at 1/8 (0.9094). […]
EURUSD took a break in growing on Thursday. The current quote is 1.0840. The general market attitude remains favourable: investors are taking adequately the risks around the US and European banking situation and are not avoiding deals. Meanwhile, EURUSD seems to have lost the ascending impulse. The dollar is affected negatively by the expectation that […]
The dollar index struggles to bounce back up after dropping to 102.50 level, in line with the earlier idea that the Fed is avoiding clear policy recommendations, while the ECB is showing more readiness to raise rates. This shifts the interest rate differential in the direction that works against the US currency. European indices bounced […]
TitleUS30USD, H4 | Potential bearish reversal TypeBearish Reversal Preference:Price could approach our pivot level of 32947.54 and potentially reverse from here, we could see momentum carry price down to its 1st support of 32227.7. Alternative scenario:If price breaks above the pivot level, it could hit the 1st resistance of 33445.54. To discuss this trading idea, […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed a Shooting Star reversal pattern. Currently, the currency pair is going by the reversal signal in a descending wave. The target of the decline might be 1.3495. The price has a chance to break it and continue the downtrend. However, the price may pull […]
EURUSD, “Euro vs US Dollar” The currency pair continues developing a consolidation range around 1.0844. Extension of the range to the level of 1.0870 is not excluded. Next, we expect a decline to 1.0820, followed by a link of growth to 1.0844. After the price reaches this level, it could drop to 1.0800. And after […]
TitleBCOUSD, H4 | Potential bearish reversal TypeBearish Reversal Preference:Price could approach our pivot level of 80.514 and reverse from here, we could see momentum move price down to its 1st support of 76.972. Alternative scenario:If price breaks above the pivot level, it could hit the 1st resistance of 83.401. To discuss this trading idea, head […]