Day: July 15, 2023
TitleUS30USD H4 | Bullish bounce off pullback support TypeBullish Bounce Preference:Price is approaching our pivot point at 34254.15, which is a pull back support, we can expect a bullish bounce off the pivot point to the 1st resistance at 34563.3. Alternative scenario:If price breaks below the pivot point, there is a possibility for it to […]
Investors swiftly unwound their long positions on the dollar this week, driven by compelling signs of disinflation in the US in June. Market expectations regarding the Federal Reserve’s (Fed) policy for the remainder of the year have also changed significantly. The baseline scenario now anticipates only one rate hike instead of two, and the market […]
Risk Rally Helping Aussie The uptick in risk appetite this week linked to the reversal in Fed expectations has helped AUD rally sharply. With the market now anticipating that the Fed will shift into neutral mode on the back of a further rate hike this month, risk assets have been given a green light with […]
EURUSD Breaks Out EURUSD bulls remain firmly in the driving seat today with the pair seen extending gains on the back of yesterday’s rally. EURUSD broke out above the 1.1126 level yesterday which has been a major resistance level over the last year. Heavy bearishness in USD has fed nicely into fresh support for EUR. […]
The major currency pair still appears very strong by Friday. The current EURUSD quote is 1.1240. The euro has been rising for seven days straight. The most traded currency pair looks seriously overbought, but the bulls still have a lot of strength. The rally was mostly triggered by the US statistics: first on the employment […]
TitleGBPJPY H4 | Bearish reversal from 38.2% Fibo TypeBearish Reversal Preference: Price is rising towards the pivot point of 181.417 and could potentially reverse from here; we could see momentum carry price down to its 1st support at 179.565 Alternative scenario: If price breaks above the pivot point, it could hit the 1st resistance at […]
TitleUSDJPY H4 | Bearish reversal from 38.2% Fibo TypeBearish Reversal Preference: Price could rise towards the pivot point of 138.744 and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1737.242 Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 140.179 […]