XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 1914.00. After testing the support level, the price might rebound and continue the uptrend. However, the quotes could rise to […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, indicating a prevailing downtrend. The RSI has rebounded from the resistance line. In these circumstances, the price is expected to break the 1/8 (0.6408) level down and drop to the support at 0/8 (0.6347). The scenario can be cancelled […]
TitleAUDUSD H4 | Approaching 61.8% Fibo resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.64682 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.63574 which is a pullback support […]
Eurozone Growth Fears The Euro remains under pressure on Tuesday as the latest set of eurozone economic data adds to bearish sentiment. The ZEW economic sentiment survey for the eurozone slipped further into negative territory at -8.9 today, down from -5.5 the prior month and below the -6.2 the market was looking for. Fears for […]
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GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which indicates a downtrend. A test of the lower boundary of the Cloud at 1.2555 is expected, followed by a decline to 1.2325. An additional signal confirming the decline could […]