Day: September 1, 2023
Brent Brent quotes are nearing the overbought area on H4, with the RSI already in the overbought area. In these circumstances, the price is expected to break the 8/8 (87.50) level, rebound from it, and drop to the support level at 6/8 (84.38). The scenario can be cancelled by a breakout of the resistance level […]
The BTC exchange rate retreated to 26,027 USD on Friday, erasing all its previous gains. Thus, localised optimism in the cryptocurrency in response to specific court decisions did not continue. A similar situation occurred with XRP this summer – the market showed enthusiasm, purchased it, and then paused, pondering what to do with it. The […]
EZ Growth Concerns In Focus EUR has come under fresh selling pressure today as the latest eurozone inflation readings turned market attention back towards growth concerns there. Annually, core CPI was seen cooling slightly to 5.3% from 5.5% prior, in line with expectations. However, headline CPI was seen remaining unchanged at 5.3%, above expectations of […]
Stocks Rallying on USD Weakness US Stocks are pushing higher today on the back of a further slide in the Dollar yesterday. The greenback came under fresh selling pressure on the back of a lower-than-forecast prelim Q2 GDP number. At 2.1%, the first look at Q2 GDP was below both the prior and expected 2.4% […]
EURUSD, “Euro vs US Dollar” The EURUSD pair continues developing the third declining wave. The estimated target is 1.0738. At a certain point, it formed a wave of decline to 1.0675 and a correction to 1.0944 (with a test from below). Today the market continues developing a structure of decline to 1.0738. This is a […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave to the 1.0846 level. Today the market is forming a consolidation range around this level. With an upward breakout, a link of growth to 1.0880 could follow. A downward breakout will open the potential for a movement to 1.0808, with the trend potentially continuing to […]
Incoming data on the US economy this week has been quite promising for gold investors. Several indicators have pointed to emergence of a negative momentum in the world’s largest economy, and the key report of the week, the Non-Farm Payrolls, which could have justified the Federal Reserve’s vague and wavering stance, fell short of expectations. […]
Yuan Rallies on Better Data The Chinese Yuan is rallying today on the back of better-than-expected data and a fresh set of economic support measures delivered overnight. The Caixin manufacturing PMI was seen moving back into positive territory last month at 51 from 49.2 prior, above the 49 the market was looking for. The unexpected […]
EURUSD, “Euro vs US Dollar” EURUSD has secured under the lower boundary of the bullish channel. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper boundary of the Cloud at 1.0850 is expected, followed by a decline to 1.0680. A signal confirming the decline will be a […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be the support level at 1.0780. However, the price could correct to 1.0850 and continue the downtrend after the […]