Day: May 12, 2023
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of decline to 1.0900. Today the market is forming a consolidation range above this level. A structure of growth could develop to 1.0950, followed by a decline to 1.0892. If the price escapes the range upwards, , the potential for a correction to […]
USDJPY, “US Dollar vs Japanese Yen” On H4, USDJPY quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to keep growing to the nearest resistance at 7/8 (135.93). This scenario can be cancelled by a downward […]
TitleAUDUSD H4 | Falling to 61.8% Fibo support TypeBullish Bounce Preference:Price is approaching the pivot point of 0.6667 and could potentially reverse from here, we could see momentum carry price up to its 1st resistance of 0.67483. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 0.66394. To discuss […]
TitleUSDCHF H4 | broken above a symmetrical triangle TypeBullish bounce Preference:Price has just reversed from our pivot at 0.89026 which lines up with a 61.8% Fibonacci retracement. A reverse from here, price could push up to 1st resistance at 0.89475 which is multi swing high resistance Alternative scenario:However, if price breaks below the pivot, it […]
EURUSD, “Euro vs US Dollar” EURUSD has secured above the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.0955 is expected, followed by a decline to 1.0815. An additional signal confirming the decline will be a rebound from the upper border of […]
BTC has fallen to 26,323 USD by Friday. The weekly loss is currently 9.55%. So, the market has passed below important support at 26,500 USD. What’s next? Next, we should all be cautious because it seems that buyers have not put much effort into defending this support. Exchanges closed long positions in BTC at 21.6m […]
TitleGBPUSD H4 | A reverse from 50% Fibo TypeBearish Reversal Preference:Price is approaching our pivot at 1.25888 which is an overlap resistance that lines up with a 50% Fibonacci retracement. A reverse from here, price could fall to 1st support at 1.25007 which is a swing low support. Alternative scenario:However, if it breaks above, price […]
US Consumer Data Due Ahead of the weekend, traders will be looking to the UoM Consumer Sentiment and Inflation Expectations readings as the final key data of the week. On the back of softer-than-forecast US CPI and PPI across the week, US rate hike expectations for June have sunk. However, the resulting market reaction has […]
TitleGBPUSD H4 | Potential reverse from 50% Fibo TypeBullish bounce Preference:Price is dropping to our pivot point at 1.25559 which is an overlap support that lines up with 50% Fibonacci retracement. A reverse from here price could rally to 1st resistance at 1.26401 Alternative scenario:However, if it breaks below the pivot, it could drop to […]
TitleUSDCHF H4 | Resistance overhead TypeBearish Reversal Preference:Price is approaching the pivot point of 0.89368 and potentially reverse from here, we could see momentum carry price down to its 1st support of 0.8873. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 0.89709. To discuss this trading idea, head […]