Day: May 30, 2023
The market’s most traded currency pair fell below earlier levels on Tuesday. The current EURUSD quote is 1.0710. The flow of information was scarce the day before, as markets in the US and parts of Europe and the UK were closed due to a public holiday. Investors are returning to activity today. They will remain […]
TitleXAUUSD H4 | Bounce off support level TypeBullish Bounce Preference:Price has just bounced off from our pivot point of 1934.213 which is an overlap support level. A bounce off from here, price could rally to 1st resistance at 1970.415 which is a swing high resistance Alternative scenario:However, if price breaks below the pivot point, it […]
Daily Market Outlook, May 30 , 2023 Despite positive developments in the US debt ceiling negotiations, the risk sentiment remained cautious during the Asian trading session. President Biden and House Speaker McCarthy managed to strike a deal that involved reducing spending in exchange for temporarily suspending the debt ceiling until after the next Presidential election. […]
EURUSD, “Euro vs US Dollar” EURUSD has secured under the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. The Tenkan-Sen line is expected to be tested at 1.0705, which will be followed by a decline to 1.0565. An additional signal confirming the decline will be a rebound from the […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of correction to 1.0725. Today the market is forming a structure of a new declining wave. At the moment, a consolidation range has formed around 1.0709. An escape from the range downwards to 1.0688 is expected. Next, a technical test on 1.0709 from […]
Emergency Meeting Called JPY traders are on high alert after news that Japanese authorities will conduct an emergency meeting today over recent Yen weakness. The Ministry of Finance, Bank of Japan and the Japanese Financial Services Agency are due to hold their first three-way meeting since Q1 today as USDJPY pushed above 140 for the […]
TitleBCOUSD H4 | Bullish reversal from overlap support TypeBullish Bounce Preference:Price is falling towards the pivot point of 74.599 and could potentially reverse from here; we could see momentum carry price up to its 1st resistance of 77.746. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 72.061 To […]
EURUSD, “Euro vs US Dollar” On H4, near the resistance level, EURUSD has formed a Harami reversal pattern. Currently, the currency pair is going by the reversal signal in a descending wave. The decline target might be 1.0640. However, the pair could correct to 1.0725 and continue the downtrend after the test of the resistance […]
The Japanese yen is trying to strengthen against the US dollar. The current USDJPY quote is 140.33. The yen has been attempting to strengthen in the last few hours. This morning, reports surfaced that high-ranking Japanese officials would convene for an emergency meeting. Representatives from the Central Bank will also be at the meeting, which […]
TitleUSDJPY H4 | Pulling back to overlap support TypeBullish Bounce Preference:Price is approaching the pivot point of 140.072 and could potentially reverse from here, we could see momentum carry price up to its 1st resistance of 140.943. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 139.234. To discuss […]