Day: April 25, 2023
AUDUSD, “Australian Dollar vs US Dollar” On H4, the quotes are under the 200-day Moving Average, revealing the prevalence of a downtrend. The RSI has rebounded from the resistance line. In these circumstances, a downward breakout of 2/8 (0.6652) can be expected, followed by a decline to the support at 1/8 (0.6622). The scenario can […]
EURUSD on Tuesday remains strong. The current quote is 1.1030. Last night, the market was so thin that a single sparkle was enough to cause noticeable fluctuations. This is exactly what happened. The American First Republic Bank reported a serious decline in the number of deposits in Q1 and a plan to cut down on […]
Daily Market Outlook, April 25, 2023 Asian equity markets are trading with a subdued tone following a lacklustre session on Wall Street as manufacturing survey data disappointed, after hours one of the poster childs for the banking crisis reported earnings, First Republic Bank issued earnings that surprised to the downside, which created jitters amongst investors […]
AI in Focus As US earnings season continues, the big focus today will be on tech titans Microsoft and Alphabet. Along with the focus on headline earnings and revenues traders will be particularly keen to receive the latest details about both company’s AI businesses. ChatGPT and Bard are at the forefront of the commercialisation of […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed a Shooting Start reversal pattern. Currently, the instrument could go by the reversal signal in a descending wave. The target for the decline will be 1.3470. Next, the shares will have a chance to break the level and continue the downtrend. However, the price […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting in a forming Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.2460 is expected, followed by growth to 1.2675. An additional signal confirming the growth will be a rebound […]
TitleGBPUSD H4 | Bounce from support TypeBullish Bounce Preference: Price is approaching our pivot point of 1.23963 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 1.25468. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 1.23374. To discuss this trading […]
ECB Hawks Out In Force The Euro is seeing a renewed wave of buying this week in response to further hawkish ECB comments made yesterday. Several members of the ECB were seen commenting in support of continued tightening in order to bring inflation back down to target. ECB’s Schnabel said that it was too early […]
TitleUSDJPY H1 | Falling to 1st support TypeBullish Bounce Preference: Price is falling to our pivot at 133.6375 which is swing low support level that lines up with 50% Fibonacci retracement. A bounce off from here price could rally to 1st resistance at 134.469 which is swing high resistance level that lines up with 61.8% […]
TitleXAUUSD H1 | Potential bounce off TypeBullish Bounce Preference:The price is approaching our pivot point at 1969.863, which is a multi-swing low support level that aligns with the 78.6% Fibonacci retracement. If there is a bounce off the pivot, it could rally to 1st resistance level at 1997.487, which is a swing high resistance level […]