TitleUSDCAD H4 | Running into resistance? TypeBearish Reversal Preference: Price is rising towards the pivot point of 1.33867 which is a swing-high resistance and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.33019 which is a pullback support. Alternative scenario: If price breaks above the pivot […]
The FTSE Finish Line – August 3 – 2023 FTSE BoE & BT Sour Sentiment The FTSE 100 index faced further downward pressure due to the decline of two prominent companies on Thursday. Telecom firm BT Group and consumer staples major Unilever both fell, with their shares trading ex-dividend. BT Group’s stock dropped by 5.5%, […]
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USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are in the oversold area on H4. The RSI has rebounded from the support line. In this situation, the price is expected to break the 0/8 (0.8789) level and rise to the resistance at 1/8 (0.8911). The scenario can be cancelled by a downward breakout of the […]
TitleEURUSD H4 | Bounce off Fibo confluence? TypeBullish Bounce Preference: Price is falling towards the pivot point of 1.09185 which is a pullback support that aligns with a confluence of Fibonacci levels (the 78.6% retracement and 61.8% projection levels) and could potentially reverse from here; we could see momentum carry price up to its 1st […]
Hawkish Risks Into BOE The main event for traders today will be the August Bank of England meeting. GBP is trading lower ahead of the meeting, despite the BOE being widely expected to hike rates by a further .25%. Indeed, over the last week many players have cited their view that the bank might hike […]
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