XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern near the support level. Currently, the instrument is going by the reversal signal in a descending wave. The pullback target could be 1923.00. Upon testing the support, the price might rebound from the level and continue the uptrend. However, the quotes could […]
SNB Rate Hike Seen Following on from the FOMC tonight, traders will tomorrow turn their attention to the BOE meeting. However, ahead of that meeting, the SNB will step into the spotlight and expectations are geared towards the bank delivering a further rate hike. The Swiss government released its latest inflation outlook today and expects […]
TitleBCOUSD H4 | Potential bullish reversal TypeBullish Breakout Preference:Price is falling towards the pivot point of 93.087 which is an overlap support and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 95.098 which is a swing-high resistance level. Alternative scenario:If price breaks below the pivot point, […]
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The Japanese yen in pair with the US dollar remains in a weak position. The current USDJPY exchange rate stands at 147.82. Much of the market’s attention is riveted on the potential interventions by the Bank of Japan and the government. Yesterday, one of the monetary policymakers, Takehiko Nakao, acknowledged the necessity for regulatory intervention. […]
Aussie on the Up The Australian Dollar is turning higher today on the back of a hawkish set of RBA minutes. The minutes, released overnight, showed that the RBA considered hiking rates again this month but ultimately decided to allow more time to assess the impact of recent tightening on the economy. This marks the […]
On Tuesday, EURUSD continues to rebound from the lower boundary of the current bearish trend amid positive inflation signals and a slowing rally in oil prices: The final assessment of inflation in the EU for August revealed that core inflation remained unchanged, but overall inflation was revised down by 0.1% from the previous estimate to […]
Crude Continuing Higher Crude oil prices continue to rally this week with the market breaking out to fresh highs for the year. The market has been firmly bullish on the back of the recent news that Saudi Arabia and Russia will extend their supply cuts through year end. The tow two producers, which effectively head […]