Day: November 2, 2023
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD has found a foothold above the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which implies an uptrend. A test of the Tenkan-Sen line at 0.6385 is expected, followed by growth to 0.6535. An additional signal confirming the rise could be a […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI is testing the support line. In this situation, a rebound from 4/8 (0.9033) is expected, followed by a price rise to the resistance at 6/8 (0.9155). The scenario can be […]
TitleUS30USD H4 | Bearish reaction off 61.8% fibo? TypeBearish Reversal Preference: Price could rise to our pivot point at 33535.9, which is a pullback resistance level, slightly above the 61.8% fibo retracement. If price manages to reach our pivot point and reacts bearishly, then we can expect price to fall to the 1st support at […]
Apple Earnings Due Away from the central bank action we’re seeing this week, US earnings season is still rolling on and attention today will be on tech giant Apple. The group is due to report Q3 earnings at the close and traders will be keen to see whether the firm can break the recent trend […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a declining wave to 1.0516. By now, it has also performed a rising impulse to 1.0565. A consolidation range has formed around this level, and with an escape upwards the market extends a structure of growth to 1.0616. Upon reaching this level, the quotes might drop to […]
EURUSD, “Euro vs US Dollar” EURUSD has formed an Inverted Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal pattern in an ascending wave. The growth target could be the resistance at 1.0665. However, the price might correct to 1.0570 and continue the uptrend after a pullback […]
Eurozone Inflation Falls Again The Euro has come under fresh selling pressure today on the back of yesterday’s data. Headline eurozone CPI was seen dropping to 2.9% last month, down from 4.3% prior and below the 3.1% the market was looking for. Core CPI was a little stickier at 4.2%, but still down on the […]
The British pound, paired with the US dollar, is trending lower. The current GBPUSD exchange rate stands at 1.2136. A British retail trade consortium reported yesterday that inflation in UK stores is on a declining trend. In September, the inflation rate reached 5.2%, marking the fifth consecutive month of decline. The last time such a […]
The Japanese yen, paired with the US dollar, is undergoing rapid depreciation. The current USDJPY exchange rate stands at 151.24. While our discussions about the yen have become more frequent than ever before, it is impossible to overlook the growing attention it is receiving. The JPY exchange rate devaluation has now reached a new level. […]
US Data & Fed On Watch Looking ahead today we have plenty to watch in terms of USD action. The October ADP employment number, JOLTS job openings and October ISM all come ahead of the November FOMC meeting due this evening. US economic resilience has been one of the core market themes recently, helping feed […]