Day: June 10, 2023
According to the Atlantic Council, foreign investors have been selling Chinese stocks in large numbers over the past two years, disappointed by the strengthening influence of Xi Jinping and the growing geopolitical tensions. The outflow of investors is related to the increasing investment risk in China, analysts believe. Unfavorable economic indicators in China lately, particularly […]
The dollar hit a corrective low yesterday following the release of US labor market data: The US Dollar Index (DXY) fell below the 104.40 level, marking a low point in the retracement since the beginning of June, which sparked some buying interest around 103.30 as discussed in the previous article. Breaking below the horizontal low […]
TitleBCOUSD H4 | Bullish reversal from support TypeBullish Bounce Preference:Price could approach the pivot point of 73.595 and potentially reverse from here; we could see momentum carry price up to its 1st resistance of 77.79. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 71.606. To discuss this trading […]
TitleEURUSD H4 | Potential bearish reversal TypeBearish Reversal Preference: Price is currently at our pivot point of 1.07753 which is a swing high resistance level. A reverse from here, price could fall to 1st support at 1.0677 which is a multi swing low support level. Alternative scenario: However, if it breaks above the pivot, it […]
TitleUSDCHF H4 | Bounce off Fibo confluence TypeBullish Bounce Preference: Price has just bounced off from our pivot point of 0.89806 which aligns with a 50% and 78.6% Fibo retracement. A bounce off from here, price could rally to 1st resistance at 0.90981 which is a swing high resistance level. Alternative scenario:However, if it breaks […]
Bitcoin Corrects Lower From Highs The rally in Bitcoin over late 2022/early 2023 motivated a lot of bulls and encouraged a lot of retail traders to re-enter the market, hoping the next big crypto bull run would take place. However, since those highs printed in April, Bitcoin prices have corrected sharply lower. A combination of […]
Bears Calling For USD Drop Over recent months, a lot of major players have been calling for a shift lower in USD premised on the end of the Fed tightening cycle which has been in place across the second-half of the post-pandemic recovery. The view is that all of the USD bullishness built up across […]