Day: June 9, 2023
The main currency pair rose by the end of the week. The current EURUSD quote is 1.0780. One of the reasons for this rise was the previously released weekly data on the number of claims for unemployment benefits in the US. The figure increased to 261,000 against the forecast of 236,000 and the previous value […]
TitleXAUUSD H4 | Running into resistance TypeBearish Reversal Preference:Price could approach the pivot point of 1984.248 and potentially reverse from here; we could see momentum carry price down to its 1st support of 1955.166. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 2004.008. To discuss this trading idea, […]
ECB On Watch Next Week Looking ahead to next week, the other main focus for traders away from the Fed will be the ECB. The bank is widely expected to hike rates by a further .25%, in line with recent hawkish comments from several ECB members. Additionally, the bank is expected to signal further hikes […]
The BTC is consolidating near 26,455 USD on Friday. The flagship cryptocurrency lost 2.3% over the week. There are numerous internal triggers that are alarming investors and hindering the market from buying. For example, market players continue to be concerned about the multiple and rather aggressive claims by the US Securities and Exchange Commission (SEC) […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Inverted Hammer reversal pattern on H4. The instrument is now going by the reversal signal in an ascending wave. The correction target might be 1.3410. Next, the price has a chance to rebound and continue the downtrend. However, the quotes might decline to the 1.3310 […]
TitleUSDCHF H4 | Potential bearish reversal TypeBearish Reversal Preference: Price is approaching our pivot point of 0.91175 which is pullback resistance level. A reverse from here, price could fall to 1st support at 0.90398 which is a multi swing low support. Alternative scenario: However, if price breaks above the pivot, it could reach our first […]
TitleCADJPY H4 | Bullish reversal from overlap support TypeBullish Bounce Preference:Price could approach the pivot point of 104.201 and potentially reverse from here; we could see momentum carry price up to its 1st resistance of 104.92. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 103.572. To discuss this […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the resistance area. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0745 is expected, followed by a rise to 1.0925. An additional signal confirming growth will be a rebound from the lower border of the bullish […]
EURUSD, “Euro vs US Dollar” The currency pair has formed a consolidation range around the 1.0730 level and, exiting it upwards, continued developing a wave of correction. Today, the market reached the 1.0786 level. A narrow consolidation range is expected to form at these highs. With an exit downwards, a link of decline to the […]
Dollar Extends Pullback but Buying Pressure may Resurface in the run-up to the May CPI Report The trend corridor for USDCAD held its ground despite the unexpected decision by the Bank of Canada to raise interest rates by 25 basis points at yesterday’s meeting: Based on numerous touches of the lower boundary line, the range […]