Day: May 23, 2023
XAUUSD, “Gold vs US Dollar” Near the support level, gold has formed an Inverted Hammer reversal pattern. Currently, the instrument could go by the reversal pattern in an ascending wave. The growth target might be 1975.50. Upon testing the resistance, the price could rebound from it and continue with the downtrend. However, the quotes could […]
AUDUSD, “Australian Dollar vs US Dollar” On H4, the quotes are under the 200-day Moving Average, representing the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downward breakout of 1/8 (0.6622) is expected, followed by a decline to the support level of 0/8 (0.6591). The scenario can […]
Daily Market Outlook, May 23 , 2023 Asian equities traded with uncertainty as investors assessed the latest updates on the debt limit negotiations. While the meeting between US President Biden and House Speaker McCarthy was described as productive, there were no significant breakthroughs. The Nikkei 225 initially climbed to its highest level since August 1990 […]
TitleBTCUSD H4 : Falling to 1st support TypeBearish Reversal Preference:Price has just reacted off our pivot point of 27485.03 which is an overlap resistance. A reverse from here, price could fall to 1st support at 26650.84 which is a multi- swing low support level. Alternative scenario:However, if price breaks above the pivot, it could rally […]
The market’s most traded currency pair remains under pressure. The current EURUSD quote is 1.0800. Investor attention is still focused on the negotiations between the White House and Congress. Stock market commentators say that the sides are gradually moving towards a consensus. This would be good, considering there is very little time left to sign […]
EURUSD, “Euro vs US Dollar” The currency pair continues developing a consolidation range around 1.0809. Today the pair could drop to 1.0788. After it reaches this level, a link of growth to 1.0809 (a test from below) is not excluded. Next, the wave of decline might continue to 1.0760, from where the wave could extend […]
Firmer USD Sends Gold Lower Gold prices are plunging today amidst a fresh uptick in the US Dollar. The metal is now down more than 5% from YTD highs and looks vulnerable to a fresh fall lower should USD continue higher today. Uncertainty around ongoing US debt ceiling negotiations is favouring USD for now via […]
TitleEURGBP H4 | Running into resistance TypeBearish Reversal Preference:Price is approaching the pivot point of 0.87154 and could potentially reverse from here, we could see momentum carry price down to its 1st support of 0.86777. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 0.87471. To discuss this trading […]
The Japanese yen, paired with the US dollar, continues to decline. The current USDJPY quote is 138.37. The strong US dollar, which is in demand as a safe haven asset, is having a remarkable influence on the Japanese yen. Fresh Japanese statistics have attracted attention. The PMI report turned out positive: the services sector is […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting in a Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the indicator at 1.2465 is expected, followed by a decline to 1.2295. An additional signal confirming the decline will be a rebound […]