Day: October 27, 2023

Bitcoin bulls broke the resistance level of 31000 and approached the level of 34220. The bulls are likely to take a small break and let bears help the asset target the broken level of 31000. The price of Bitcoin might potentially head North, undergo correction to the level of 31000, and jump further. We will […]

Equity Markets in Disarray US equities took a beating on Wednesday, with the S&P 500 shedding almost 1.5% of its market capitalization, slipping below the critical 4200-point mark. The battle between sellers and buyers near the 200-SMA (Simple Moving Average) created quite a spectacle, eventually surrendering as a support level. Growth stocks fared no better, […]

USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is approaching the resistance line. In this case, a downward breakout of the 3/8 (0.8977) level is expected, followed by a decline to the support at 1/8 (0.8850). The scenario can […]

EURUSD , “Euro vs US Dollar” EURUSD has secured under the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.0565 is expected, followed by a decline to 1.0425. An additional signal confirming the decline will […]

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ECB In Focus The Euro is trading lower today ahead of the October ECB meeting in a few hours’ time. The market is widely expecting the bank to keep rates on hold though, on the back of recent stickiness in inflation, the bank is expected to retain a hawkish tone its guidance. Indeed, speaking in […]