Day: August 24, 2023
The British pound sterling paired with the US dollar initially declined on Thursday morning but stabilised later. The current GBPUSD exchange rate stands at 1.2717. The morning stress could be attributed to the execution of certain trading signals. Interestingly, this is the third time in the past couple of weeks that the pound slid down […]
Bitcoin did not manage to enter the supporting zone. It jumped instead, trying to form a long white candle at the end of the trading day and shape the engulfing. It’s noteworthy that the asset’s price might potentially drop again. Should Bitcoin head North, it is likely to face resistance at the level of 29000 […]
TitleXAUUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price has is at our pivot zone between 1900-1905 which is a multi swing high resistance that aligns with 23.6% Fibo retracement. A reverse from here, price could fall to 1st support at 1891.379 which is an overlap support level Alternative scenario:However, if price breaks above the […]
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EUR Under Pressure The Euro is coming under fresh selling pressure today on the back of the latest set of eurozone PMIs this morning. The manufacturing reading was seen remaining firmly in negative territory, printing 43.7. While slightly higher than the prior 42.7 reading and the 42.8 the market was looking for, the data makes […]
Crude Slumps on China Concerns Crude oil has taken a further turn lower this week. After a sustained rally over July which saw prices hitting fresh highs for the year earlier this month, crude futures have now shed around 7% from those YTD highs. Concerns over the economic outlook in China have been a major […]