Day: November 8, 2023

After a series of risk-on days, FX markets are now consolidating with the dollar on the rise against its major peers. This follows some intriguing price movements triggered by the Reserve Bank of Australia’s 25 basis point interest rate hike, as well as mixed economic data from China. Today’s trading session appears relatively calm, but […]

TitleGBPUSD H4 | Rising towards resistance? TypeBullish Bounce Preference:The price is falling toward our pivot point of 1,2323, which serves as a pullback support level. A bounce from this point could lead the price to rise to the 1st resistance at 1,2417, a multi-swing high resistance. Alternative scenario:However, if the price breaks below the pivot, […]

TitleEURUSD H1 | Bouncing off support? TypeBullish Bounce Preference:The price is falling toward our pivot point of 1.0686 which serves as a pullback support level. A bounce from this point could lead the price to rise to the 1st resistance at 1.0722, an overlap resistance. Alternative scenario:However, if the price breaks below the pivot, it […]