PMI data released on Friday showed that manufacturing activity across Asian countries experienced uneven changes in November. While Japan and Korea saw a slowdown, unexpectedly, private enterprises in China reported improved sentiments compared to the previous month. The relevant index from Caixin Agency rose from 49.5 to 50.7 in November, surpassing expectations that it would […]
Title:GER40 H4 | Bearish Reversal off Pivot? TypeBearish Drop Preference:The current price has touched the pivot line at 16299.70, a swing high resistance. Price could react bearishly off pivot and fall to 1st support level at 16045.42, a pullback support. Alternative scenario:Price could break through the pivot at 16299.70, a swing high resistance, moving towards […]
Gold Near Highs Gold prices are starting the final month of the year in the green today. The market enjoyed a solid rally across November and is now holding just below all-time highs ahead of today’s keenly awaited US manufacturing PMI. On the back of the recent drop off in US inflation and labour market […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 1.3575. Next, the price might have a chance for a rebound from the resistance level and further development of the downtrend. […]
EUR Slides on CPI Drop A slew of weaker-than-forecast eurozone inflation data this week has put an end to the rally for now. With Spanish, German and overall eurozone CPI seen falling again last month, the market has now moved to fully price in an ECB rate cut by April next year with odds […]
TitleGBP/JPY H4 | Bullish bounce off 38.2% Fibo? TypeBullish Bounce Preference:The current price is on the pivot level at 187.092, which is a pullback support and it also aligns with the 38.2% fibo retracement level at 187.121. Price could bounce off pivot level and towards the 1st resistance at 188.192, a pullback resistance. Alternative scenario:Price […]