Day: December 8, 2023
Brent Brent quotes and the RSI have reached their respective oversold areas on H4. In this situation, the instrument is expected to rise above 0/8 (75.0), subsequently reaching the resistance line at 1/8 (78.12). The scenario could be cancelled by a downward breakout of the support at -1/8 (71.88). In this case, the quotes could […]
TitleEURUSD H4 | Potential bullish bounce? TypeBullish Bounce Preference: The price could bounce off our pivot point at 1.07567, a pullback support and rise towards our 1st resistance at 1.08296, an overlap resistance. Alternative scenario: The price could break the pivot point at 1.07567 and fall to the 1st support at 1.06613, a pullback […]
USD Falls on Weak ADP Number The US Dollar is softening today on the back of yesterday’s ADP employment number, with gold prices rising as a result. The figure came in at 103k, down from 106k prior and well below the 131k the market was looking for. On the back of the release, traders are […]
The Australian dollar, paired with the US dollar, has seen an increase by Friday. The current AUDUSD exchange rate stands at 0.6618. The Aussie had earlier faced pressure when the Reserve Bank of Australia held the interest rate steady at 4.35% per annum. During that time, the CB mentioned that keeping the parameter unchanged would […]
The Japanese yen is strengthening its position against the US dollar. The current USDJPY exchange rate stands at 143.64. When we mentioned a couple of days ago that the yen was on the brink of significant movements, we could not have imagined that the Japanese national currency would rise so quickly and sharply. However, the […]
TitleS&P 500 H4 | Falling to support level? TypeBearish Reversal Preference: The price could fall to our support level at 4537.68, multi-swing low support from our pivot point at 4598.58, a pullback resistance. Alternative scenario:The price could break through the pivot point at 4537.68 and rise to our resistance level at 4608.51, a swing-high resistance […]
TitleUSDJPY H4 | Potential bearish reversal? TypeBearish Breakout Preference: The current price is falling towards our pivot at 143.726, a pullback support. It could break through the pivot and continue falling to our support level at 141.564, a pullback support. Alternative scenario: Price will bounce off the pivot point and rise to our resistance level […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has rebounded from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 1.2615 is expected, followed by a decline to 1.2365. An additional signal confirming the decline will be a rebound […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could remain at 2070.00. Upon testing the resistance, the price might break it and continue developing the uptrend. However, the quotes could pull back to 2005.00 before […]
Title:GBPUSD H4 I Continue to support level? TypeBearish Drop Preference:The price is falling from our pivot point of 1.2586, A fall from this point could lead the price to fall to the 1st support at 1.2499, a pullback support. Alternative scenario:However, if the price breaks above the pivot, it might rise to the 1st resistance […]