Day: May 31, 2023
The British pound sterling remains under pressure against the US dollar. The current GBPUSD quote is 1.2385. Previously published statistics showed that business confidence in the UK dropped for the first time in three months in May. The Lloyds Bank Business Barometer reflected a decline of 28%. This is because higher inflation has deteriorated the […]
The Japanese yen has strengthened markedly against the US dollar. The current USDJPY quote is 139.39. The JPY rose on news of an emergency meeting of Japanese high-ranking monetary policy officials. The outcome of the meeting was neutral: Japan will watch currency market movements and react if deemed necessary. The monetary policymakers reacted rather due […]
CPI Still Not Falling Fast Enough The latest Australian inflation data overnight no doubt makes difficult reading for the RBA . Annual CPI was seen rising 6.8% last month, above the 6.4% the market was looking for. While a slight reduction from the prior month’s 7% reading, given the RBA’s insistence that it needs to […]
TitleEURUSD H4 | Retracement to 23.6% Fibo resistance TypeBearish Reversal Preference:Price could approach the pivot point of 1.07619 and potentially reverse from here; we could see momentum carry price own to its 1st support of 1.06688. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 1.08323. To discuss this […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of correction to the 1.0745 level. Today the market is forming a structure of another wave of decline. At the moment, a consolidation range has been formed around the 1.0703 level. A breakout downwards to the 1.0673 level is expected. Next, a technical […]
The BTC on Wednesday is balancing around 27,148 USD. While the technical trading picture of the BTC is favourable for a price increase, investors are clearly not ready to buy. This is probably due to the high correlation of the BTC with the S&P 500 index and Nasdaq indices. Markets are focused: today the House […]
TitleUSDJPY H4 | Bullish bounce from 23.6% Fibo TypeBullish Bounce Preference:Price is approaching the pivot point of 139.262 and could potentially reverse from here; we could see momentum carry price up to its 1st resistance of 140.772. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 138.202. To discuss […]
TitleGBPJPY H4 | A bounce off support level TypeBullish Bounce Preference:Price has just bounced off our pivot point of 172.48 which is a pullback support level. A bounce from here, price could rally to 1st resistance at 173.816 which is a multi-swing high resistance Alternative scenario:However, if price breaks below the pivot, it could fall […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper border of the Cloud at 1.2425 is expected, followed by a decline to 1.2215. An additional signal confirming the decline will […]
XAUUSD, “Gold vs US Dollar” Near the support level, Gold has formed an Engulfing reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The growth target could be 1983.00. Upon testing the resistance level, the price might rebound from it and continue the downtrend. However, the quotes could drop […]