TitleEURUSD H4 | Potential react off 50% Fibo? TypeBearish Reversal Preference: Price is moving toward our pivot of 1.11437 that aligns with 50% Fibo retracement. A reverse from here, price could fall to 1st support at 1.10399 which is a support level. Alternative scenario: However, if price breaks above the pivot, it could push up […]
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XAUUSD, “Gold vs US Dollar” Gold is correcting, forming a Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1965 is expected, followed by a rise to 2010. An additional signal confirming the rise will be a rebound from the […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1965.50. Upon testing the support, the price might rebound and continue the uptrend. However, the quotes could rise to 1990.00 […]
Daily Market Outlook, July 27, 2023 Munnelly’s Market Commentary… After the Federal Reserve’s widely expected 25bps rate hike and Chairman Jerome Powell’s remarks about keeping the door open for a potential further increase, Asian equity markets traded higher. The Nikkei 225 initially hesitated due to a firmer currency and the Bank of Japan’s ongoing policy […]
Silver broke the level of 24.35 and rebounded. Currently, the asset’s price is rebounding from the broken level again. Silver has also tested the median line of the uptrend and formed the bullish engulfing. The asset is likely to jump and face resistance at the level of 26.25. Brent oil is gradually approaching the resistance […]
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