Day: December 19, 2023
EURUSD, “Euro vs US Dollar” EURUSD has secured above the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0885 is expected, followed by a rise to 1.1065. An additional signal confirming the rise will be a rebound from the lower boundary of […]
AUDUSD, “Australian Dollar vs US Dollar” The AUDUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. However, a divergence is forming on the RSI. As a result, in this situation, a test of 7/8 (0.6774) is expected, followed by a rebound from this level and a decline to […]
Copper Rally Resumes Copper prices are turning higher today with the metal once again keeping pressure on the 3.9410 resistance level, suggesting risks of a breakout higher. The metal has advanced well off the October lows and, despite some correction lower at the start of the month, is now back up near Q3 highs. The […]
TitleRising into 127.2% Fibo extension resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.67357 which is a pullback resistance that aligns with the 127.2% Fibonacci extension level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.66146 which is a Pullback support that […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The pullback target might be 1.3450. Next, the price could rebound from the resistance and extend the downtrend. However, the quotes could drop to 1.3340 without any […]
EURUSD, “Euro vs US Dollar” EURUSD continues developing a consolidation range around 1.0919. An escape from the range upwards could open the potential for a growth wave to 1.0945, from where the trend might continue to 1.1050. With an escape downwards, the potential for a further correction to 1.0882 might open, followed by a rise […]
Silver is heading down. The price of silver underwent a correction, approached the broken downtrend, and formed a bearish engulfing. Since the breakout of the downtrend was false, the asset’s price might potentially dive even deeper and gain the required support in the zone formed between levels 22.00 and 22.30. So, let’s observes what is […]
The Dollar Index on Monday is hovering near the neutral level of 102.50, indicating that the market has absorbed the major news from the past week. This, of course, refers to the parade of performances by major central banks – the Federal Reserve, the European Central Bank, and the Bank of England. The U.S. Federal […]
Correction Lower Continues Bitcoin bulls are starting the final full trading week of the year with a sense of caution today as BTC futures continue to trade lower. The move, which appears linked to profit taking ahead of year-end, has seen the market turning back down towards the December lows around 40435. However, another reason […]
TitleGBPUSD D1 | Resistance overhead TypeBearish Reversal Preference:Price is rising towards the pivot point of 1.27953 which is an overlap resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.25013 which is an overlap support that aligns with the 38.2% Fibonacci retracement level. Alternative […]