Day: June 2, 2023
The market’s most traded currency pair returned to stability on Friday. The current EURUSD quote is 1.0770. The attractiveness of the US dollar as a safe-haven asset decreased after the Senate approved the draft bill on raising the public debt limit. It turns out that the risk of default has been the main foothold for […]
Amazon Pops on USD Drop Shares in Amazon are trading firmly higher ahead of the US open today. The tech stock has been on a solid bull run this year and despite some choppiness over the end of Q1, the stock has rebounded firmly and is now trading around 50% up on the year. This […]
Further Fed ‘Rate Pause’ Comments Yesterday was an important day for stocks with the passing of a deal to suspend the US debt ceiling until after the next election alongside further dovish Fed comments. Fed’s Harker voiced his support for a pause at the next meeting, echoing comments made earlier in the week by Fed’s […]
EURUSD, “Euro vs US Dollar” On H4, near the support level, the currency pair has formed an Engulfing reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be the resistance level of 1.0800. However, the price could drop to 1.0640 and continue the downtrend without […]
The BTC is holding near 27,179 USD on Friday. While there are no clear purchases, the support at 26,000 USD remains relevant. For the market to return to the strong growth zone, it needs to secure above 29,800 USD. Today’s trading day can be quite volatile due to the volume of important statistics from the […]
TitleXAUUSD H4 | Potential bullish reversal TypeBullish Bounce Preference: Price is falling to our pivot point of 1954.785 which is an overlap support level that aligns with a 50% Fibonacci retracement, A reverse from here, price could rally to 1st resistance at 1966.088 which is a multi swing high resistance Alternative scenario:However if price breaks […]
TitleNZDUSD H4 | Potential Bullish Divergence TypeBullish Bounce Preference:Pirce is currently at our pivot point of 0.60064 which is a swing low support level. A bounce off from here, price could rally to 1st resistance at 0.61116 which is a pullback resistance level Alternative scenario:However, if price breaks below the pivot, it could fall to […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the upper border of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2465 is expected, followed by a rise to 1.2690. An additional signal confirming the rise will be a […]
EURUSD, “Euro vs US Dollar” The currency pair has formed a consolidation range around 1.0730 and suggests a correction to 1.0743 with a breakout from the range upwards. After the price reaches this level, a link of decline to 1.0702 is expected, followed by a rise to 1.0822. GBPUSD, “Great Britain Pound vs US Dollar” […]
US Jobs On Watch The latest set of US labour market data tomorrow is drawing plenty of attention. While the NFP is typically one of the most market-moving data points each month, given the shift in Fed expectations we’ve seen recently, tomorrow’s data might prove even more eventful. Traders will be looking to tomorrow’s data […]