Day: June 1, 2023
EURUSD, “Euro vs US Dollar” The currency pair completed a wave of decline to 1.0635. Today the market has performed a correction to 1.0692. At the moment, a consolidation range is forming under this level. A breakout of the range downwards and further development of the wave to 1.0643 are expected. And if this level […]
Silver is undergoing correction right now. Currently, the asset is approaching the broken neckline of the double top located at the level of 24.75. Silver might potentially rebound from the broken level and drop to gain the required support at the level of 22.40. Oil has approached the supporting level of 71.50, forming the candle […]
TitleGBPUSD H1 | React off 61.8% TypeBullish Bounce Preference: Price has just bounced off our pivot point at 1.23724 which is a pullback support level that aligns with a 61.8% Fibonacci retracement. A reverse from here, price could rally to 1st resistance ar 1.24231 which is a pullback resistance level Alternative scenario:However, if price breaks […]
Iron Ore Gaps Lower We’re seeing plenty of volatility in the iron ore market on Wednesday following the release of the latest China economic data overnight. The manufacturing PMI was seen dropping further into negative territory last month at 48.8, down from 49.2 prior and below the 49.5 reading the market was looking for. Concerns […]
Tesla Trying to Breakout Shares in Tesla are trading a little lower ahead of the open today following a breakout move higher earlier in the week. Tesla shares started the week on a positive footing amidst encouraging signs that a debt ceiling deal will be done, preventing default on US debt. However, lingering concerns around […]
