Day: May 25, 2023
The British pound sterling had fallen further against the US dollar by Wednesday. The current GBPUSD quote is 1.2340. After the UK released rather weak inflation statistics for April, investors stepped up the sale of the pound sterling. Yes, the CPI was below the 10% y/y threshold for the first time in eight months, and […]
The most traded currency pair looks weak on Wednesday. The current quote is 1.0740. The minutes of the last US Federal Reserve meeting held on 2-3 May, which were published yesterday, give signals of the regulator’s readiness to take action if the situation with the US public debt does not stabilise. The Fed is concerned […]
TitleUSDJPY H4 | Bearish Divergence TypeBearish Reversal Preference: Price has just reacted off our pivot point of 139.66 which is a pullack resistance level. A reverse form here, price could fall to 1st support at 138.81 which is an overlap support level. Alternative scenario:However, if price breaks above the pivot, it could rally to 1st […]
TitleDXY H4 | Potential bearish reversal TypeBearish Reversal Preference:Price has just reversed from our pivot point of 103.7523 which is a pullback resistance that aligns with a 78.6% Fibonacci retracement. A reverse from here, price could fall to 1st support level at 103.1057 which is a pullback support level Alternative scenario:However, if price breaks above […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a corrective wave to 1.0800. Today the market continues developing a wave of decline to 1.0730. After the price reaches this level, a consolidation range could form around it. It might later extend downwards to 1.0700. Next, a corrective rise to 1.0828 could form. GBPUSD, […]
USDCHF, “US Dollar vs Swiss Franc” On H4, the quotes have broken the 200-day Moving Average and are now above it, which indicates the probability of an uptrend development. The RSI is nearing the overbought area. In this situation, the quotes are expected to rise above 5/8 (0.9094) and reach the resistance level of 6/8 […]
TitleXAUUSD H4 | React off 38.2% TypeBearish Reversal Preference:Price has just reacted off the pivot point of 1981.517 which is an overlap resistance that aligns with a 38.2% Fibonacci retracement. A reverse from here, price could fall to our 1st support at 1958.267 which is a swing low support level. Alternative scenario:However, if price breaks […]
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GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has secured above the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2415 is expected, followed by a decline to 1.2235. An additional signal confirming the decline will be a rebound from the upper […]
EURUSD, “Euro vs US Dollar” On H4, near the resistance level, EURUSD has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decrease target could be 1.0695. However, the price might correct to 1.0770 and continue the downtrend after testing the resistance. USDJPY, “US Dollar […]