Day: April 28, 2023
Investors remained unperturbed by the disappointing publication of the US GDP statistics for Q1 2023. The economy increased by 1.1%, two times less than expected. Today will also be tense: personal income and spending reports for March are scheduled for publication alongside the Core PCE inflation component. Technically, the market still craves for securing above […]
EURUSD on Friday remains neutral after receiving new alarming signals from the US economy. The current quote is 1.1030. The US GDP in the first quarter of 2023 grew by just 1.1% instead of the forecast 2.0% after growing by 2.6% previously. The economic growth turned out twice as worse as expected. In the components, […]
TitleUS30USD H4 | Potential bounce off support TypeBullish Bounce Preference:Price is approaching our pivot point of 33540.61 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 34129.16. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 33255.39. To discuss this trading […]
TitleXAUUSD H4 | Bounce off support level TypeBullish Bounce Preference:Price is dropping toward our pivot point at 1974.284 which is a multi swing low support level. A reverse from here price could potentially rally to 1st resistance at 1991.626 which is a swing high resistance Alternative scenario:However, if price were to break below the pivot, […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, the pair has formed a Shooting Star reversal pattern. Currently, the instrument can go by the reversal signal in a descending wave. The target for the decline will be 1.3530. Next, the price could break the level and continue the downtrend. However, the price may pull back […]
EURUSD, “Euro vs US Dollar” EURUSD has rebounded from the upper border of the Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 1.0985 is expected, followed by growth to 1.1145. An additional signal confirming the growth will be a […]
TitleXAUUSD H4 | Resistance overhead TypeBearish Reversal Preference: Price is approaching our pivot point of 2012.57 and potentially reverse from here, we could see momentum carry price down to its 1st support of 1977.257. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 2031.957. To discuss this trading idea, […]
Adv GDP Up Next The big focus for traders today will be the release of advance quarterly GDP data in the US. Estimates peg the initial GDP reading for Q1 at 2%, down from 2.6% the prior quarter, which was itself a decline on the prior quarter’s 3.2% reading. If confirmed at 2%, the impact […]
EURUSD, “Euro vs US Dollar” The currency pair completed a structure of decline to 1.0992. Today the quotes have corrected to 1.1038. At the moment, the market is forming a new structure of a wave of decline to 1.0986. After it reaches this level, a link of growth to 1.1025 is expected, followed by a […]
Brent On H4, Brent quotes are under the 200-day Moving Average, revealing the prevalence of a downtrend. The RSI is nearing the resistance line. As a result, a downward breakout of 1/8 (78.12) is expected, followed by a decline to the support at 0/8 (75.00). The scenario can be canceled by rising above the resistance […]