Day: May 17, 2023

TitleEURUSD H4 | React off 1st resistance TypeBearish Reversal Preference:Price is approaching our pivot point at 1.0908 which is a pullback resistance level that aligns with a 23.6% Fibonacci retracement. A reverse from here, price could fall to 1st support at 1.08467 Alternative scenario:However, if price breaks above the pivot, it could rally to 1st […]

TitleGBPUSD H4 | A reverse from 38.2% Fibo TypeBearish Reversal Price is nearing our pivot point at 1.25356 which is a multi swing high resistance that aligns with a 38.2% Fibonacci retracement. A reverse from here, price could fall to 1st support at 1.24482 which is a multi swing low support level.  Alternative scenario:However,  if […]

The second estimate of Eurozone GDP for the first quarter came in line with expectations, showing a modest quarterly growth of just 0.1% and a YoY output gain of 1.3%. However, the ZEW Economic Sentiment Index for the Eurozone and Germany fell more than anticipated, indicating worsened sentiment. With EURUSD nearing 1.09, buyers remain cautious […]

TitleUSDCHF H4 | Bullish bounce from 61.8% Fibo TypeBullish Bounce Preference:Price is approaching the pivot point of 0.8913 and could potentially reverse from here, we could see momentum carry price up to its 1st resistance of 0.89857. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 0.88677. To discuss […]