Day: May 29, 2023
The Japanese yen continues to decline against the US dollar. The current USDJPY quote is 140.60. The JPY is on a new round of devaluation. This is because the Bank of Japan is maintaining an ultra-soft monetary policy. The contrast between the interest rates is particularly noticeable in comparison with the US Fed’s – market […]
TitleXAUUSD H4 | React off resistance TypeBearish Reversal Preference:Price is rallying to our pivot point of 1957.181 which is an overlap resistance level that aligns with a 38.2% Fibonacci retracement. A reverse from here, price could fall to 1st support at 1937.553 which is swing low support level. Alternative scenario:However, if price were to break […]
Gold has approached the uptrend. However, the asset is likely to break the trend and head down due to the formed double top. Should the asset break the uptrend, it might rebound back to the broken trendline, that is, the level of 1980, and drop. So, let’s observe what will happen. American stock index S&P500 […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed an Engulfing reversal pattern. The instrument is now going by the reversal signal in a descending wave. The decline target might be 1.3555. Next, the price has a chance to break this target and continue the downtrend. However, the quotes might correct to the […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of decline to 1.0701 and a link of correction to 1.0732. Today the market is consolidating around this level. The consolidation range is expected to extend to 1.0744. Next, a decline to 1.0732 (a test from above) and a rise to 1.0760 are […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. Another test of the Kijun-Sen line at 1.2365 is expected, followed by a decline to 1.2165. An additional signal confirming the decline will be a rebound from […]
The BTC rose to 28,093 USD by Monday. The weekly increase was 5.43%. The main growth momentum was achieved in the last couple of days. The recovery of the correlation between the BTC and the US stock market eventually allowed for buying the crypto, although investors were full of doubts earlier. Market rumours cite that […]