Day: November 2, 2023
TitleCADJPY H1 | Bullish bounce of 23.6% Fibo TypeBullish Bounce Preference:Price is falling towards the pivot point of 108.885 which is a pullback support that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 109.33 which is a swing-high […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. However, the RSI has reached the overbought area. As a result, in this situation, the quotes are expected to break the 5/8 (150.78) level downwards and fall to the support at 4/8 (150.00). The scenario […]
The price of BTC rose to 34,430 USD on Wednesday. Following the figures from the past week, the daily gain of 0.5% and a weekly increase of 0.8% may appear unimpressive. However, it is vital to keep in mind that a crucial moment is currently unfolding: the market is on standby, refraining from engaging in […]
Crude Drops on Shifting Middle East Focus Crude oil prices have fallen back below the key 82.59 level this week. The move lower appears to be in line with the prevailing market view that the Israel-Hamas conflict is remaining largely contained for now. From a trading perspective, the initial rally in oil prices was linked […]
Chinese Manufacturing Sector Slows, Stimulus Hopes Loom The Chinese manufacturing sector exhibited a slowdown in October, as indicated by the official Purchasing Managers’ Index (PMI) report. The headline reading came in at 49.5 points, missing the estimated 50.2 points. This decrease in activity has raised concerns, and it’s important to understand the significance of these […]