Day: May 24, 2023
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed a Doji reversal pattern. Currently, the instrument could go by the reversal pattern in an ascending wave. The correction target might be 1.3555. Next, the price could rebound from this level and continue the downtrend. However, the quotes might drop to 1.3430 without testing […]
USDJPY, “US Dollar vs Japanese Yen” On H4, the quotes are in the overbought area. The RSI has formed a divergence on its chart. In this situation, a downward breakout of +1/8 (138.28) is expected, followed by a decline to the support level of 7/8 (132.71). The scenario can be cancelled by breaking the resistance […]
Daily Market Outlook, May 24 , 2023 Asian equities mostly traded in the red, following the negative lead from Wall Street. Investor sentiment was affected by ongoing concerns over the US debt limit impasse, with only nine days remaining until the presumed X-date. Additionally, tensions between the US and China intensified after the US House […]
TitleUS30USD H4 | Bullish reversal from overlap support TypeBullish Bounce Preference:Price could approach the pivot point of 32885.22 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 33232.49. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 32593.34. To discuss this […]
The BTC is balancing near 26,741 USD on Tuesday. Yesterday, the leading cryptocurrency was feeling good and rising in value. However, the mood has changed today. But if we step back, we can see that strategically nothing is changing. The market is waiting and saving power until important news about the US national debt comes […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of decline to 1.0760. Today the market is correcting to 1.0789. After the correction will be over, a new wave of decline is expected to develop to 1.0740. This is a local target. GBPUSD, “Great Britain Pound vs US Dollar” The currency pair […]
FOMC On Watch US stocks and the US Dollar are back in focus today ahead of the FOMC minutes tonight. Fed expectations have been shifting wildly in recent weeks as traders continue to grapple with the prospect of a further hike in June or potential pause from the Fed. Pricing for a further .25% hike […]
Headline CPI Drops But Not As Much As Expected The latest UK inflation data today offered some hope for consumers. Headline CPI was seen dropping back to 8.7% last month, down from 10.1% the prior month. This marks the first time that UK inflation has been back in single digits since August last year. However, […]
The New Zealand dollar has weakened markedly against the US dollar. The current quote is 0.6140. The Reserve Bank of New Zealand raised its interest rate by 25 basis points at its May meeting and made it clear that it no longer intends to raise the rate as part of its fight against inflation. This […]
EURUSD, “Euro vs US Dollar” EURUSD is pushing off the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.0795 is expected, followed by a decline to 1.0645. An additional signal confirming the decline will be a rebound from the upper border of […]