Day: April 12, 2023
Retail Heavily Short The retail market is holding a large short position in EURAUD, currently sitting around the 85% level. However, EUR has emerged as one of the strongest performers today suggesting plenty of potential for the pair to continue trading higher, extending the bull trend which has described price action over recent weeks. The […]
TitleEURUSD H4 | Potential reversal from 1st resistance TypeBearish Reversal Preference: Price is currently at our pivot of 1.09266 which is an overlap resistance along with 61.8% Fibonacci retracement. A reverse from here price could drop to 1st support at 1.08756 Alternative scenario:On the other hand, if break above this level could potentially propel the […]
EURUSD, “Euro vs US Dollar” EURUSD is growing in a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 1.0870 is expected, followed by growth to 1.1105. An additional signal confirming the growth will be a rebound from the lower […]
By Wednesday, the BTC has risen to 30,015 USD. The weekly growth is estimated as 4.8%. But this is not the most important thing. Most importantly, the leading cryptocurrency has finally tested the significant level of 30,000 USD. The local maximum was 30,483 USD. The priority now is to secure above 30,000 USD. The nearest […]
USDCHF H4 | Dropping to support TypeBullish Bounce Preference:Price is approaching our pivot level of 0.90042 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 0.91013. Alternative scenario:If price breaks below the pivot level, it could hit the 1st support of 0.89531. To discuss this trading idea, […]
US CPI In Focus Today might well prove to be a pivotal day for the US Dollar with both the March CPI release and March FOMC minutes due. Inflation has been the catalyst behind the market’s shifting view on the Fed. With inflation having cooled sharply from last year’s highs, so too has the market’s […]
TitleXAUUSD H1 | Short term bearish reversal TypeBearish Reversal Preference:Price has just bounced off our pivot at 2001.844, which is an overlap resistance level along with a 38.2% Fibonacci retracement. If there is a reversal from this point, price could potentially drop down to1st support level at 1988.226, which is an overlap support level Alternative […]
Tide Turns For USD Following a strong start to the week yesterday, the US Dollar is seen surrendering gains on Tuesday as traders begin looking beyond Friday’s Jobs data towards the US CPI release due tomorrow. An upside beat on the headline NFP reading as well as an improvement in the unemployment rate saw USD […]
The FTSE Finish Line – April 11 – 2023 FTSE 100 Trading Around The Flatline Supported By Miners The FTSE 100 is trading with meagre gains as traders return from the holiday extended weekend, after opening lower support came by way of a boost from industrial miners as Cooper prices extended its advance, this was […]
GBP Rallying The British Pound has emerged as one of the strongest performing currencies on Tuesday as traders return following the long Easter weekend. The recent surprise upside in UK inflation has renewed the market’s hawkish BOE expectations, lifting the likelihood of continued tightening from the BOE in coming months. With BOE expectations now sitting […]