Day: July 22, 2023
Consumer Confidence Dips The latest data out of the UK today painted a very mixed picture. Firstly, the GfK consumer confidence reading was seen printing -30, down from -24 previously and worse than the -25 the market was looking for. This marks the first fresh decline in UK consumer confidence in 6 months and comes […]
TitleEURUSD H1 I Potential bearish reversal? TypeBearish Reversal Preference: Price is rising towards our pivot point of 1.11775 that aligns with 38.2 and 50% Fibo retracement, indicating Fibo confluence zone. A reverse from here, price could fall to 1st support at 1.11276 which is support level Alternative scenario: However, if price breaks above the pivot, […]
TitleGBPJPY H4 | Bearish reversal at 61.8% fibo projection? TypeBearish Reversal Preference:Price is currently in a bullish momentum, heading towards our pivot point at 181.57, which aligns with the 61.8% fibo projection. Price could potentially become bearish once it reaches our pivot point, and fall towards the 1st support at 179.708, which is a multi-sing […]
What is US Earnings Season? The US earnings season, which happens quarterly, is a key focus point for traders. During this period, companies unveil their financial performance over the prior quarter, presenting comprehensive reports on revenue, profits, expenses, and forward-looking projections. The impact of these earnings releases is highly tradable, significantly influencing stock market dynamics […]
The price of BTC dropped to 29,846 USD on Friday. The price of the flagship cryptocurrency is marginally above the 29,800 USD support. The next support is at the 29,500 USD level. If buyers are fighting for bullish momentum, they are doing so without the previous enthusiasm. The relative weakness of the US dollar and […]
Labor market and consumer confidence data in the US, released yesterday, beat estimates, allowing the dollar to stage a comeback. EURUSD retreated into the range of 1.11-1.1150 in line with expectations, GBPUSD also extended its correction, driven by a weak inflation report, dropping to 1.2850. The monthly charts of EURUSD and GBPUSD deserve attention: It’s […]
USD Recovering The US Dollar is extending gains on Friday, with the Dollar index on course to end the week around 1.5% higher, as of writing. The rebound comes on the back of a fortnight of heavy selling in USD as traders digested the latest drop in inflation and paired back their Fed rate hike […]