Day: December 22, 2023
EURUSD, “Euro vs US Dollar” EURUSD has completed a growth wave to 1.1011. A consolidation range is expected to form around 1.1000 today. Extension of the range to 1.1015 is not excluded. Next, a decline link to 1.0972 might form (a test from below), followed by a rise to 1.1054. At this level, the potential […]
Brent Brent quotes are on the 200-day Moving Average on H4, which points on the lack of any trend. The RSI has rebounded from the support line. The RSI has rebounded from the support line. In this situation, a further rise to the nearest resistance level of 4/8 (81.25) is expected. The scenario could be […]
The US dollar found itself on the back foot Thursday after a mixed bag of economic releases, including a downward revision to the third-quarter GDP growth estimate from 5.2% to 4.9%. The GDP Price Index also saw a downward adjustment, from 3.5% to 3.3%, indicating a smaller inflationary impact on growth than initially anticipated. While […]
TitleAUDUSD H4 | Bullish bounce TypeBullish Bounce Preference:AUDUSD has bounced off the pivot at 0.67234, overlap support, which also aligns with the 23.6% Fibonacci retracement level. Price could rise to 1st resistance at 0.68127, swing-high resistance level. Alternative scenario:Price could pull back and reverse to the 1st support at 0.66758, the overlap support from the […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF is rebounding from the lower boundary of the descending channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.8585 is expected, followed by a decline to 0.8475. An additional signal confirming the decline will be a rebound […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The pullback target might be 1.3340. Next, the price might rebound from the resistance and continue the downtrend. However, the quotes could drop to 1.3250 without any […]
TitleEURUSD H4 | Potential bullish breakout TypeBullish Breakout Preference:The price could break out of the pivot at 1.10065, the multi-swing high resistance, and rise to the 1st resistance at 1.10645, the swing-high resistance Alternative scenario: Alternatively, the price could continue the downward momentum to the 1st support at 1.09813, the overlap support, which aligns with […]
TitleEURJPY H4 | Bounced off 78.6% Fibonacci level TypeBullish Bounce Preference:The EURJPY has bounced off the pivot point at 156.166, which is the 78.6% Fibonacci retracement level. The price could rise to the 1st resistance at 158.317, the swing-high resistance. Alternative scenario:The price could pull back and break the pivot point at 156.166, which is […]
TitleUSDJPY H4 | Bullish bounce TypeBullish Bounce Preference:The price has bounced off the pivot at 141.776, the 78.6% Fibonacci retracement level. It is rising to the 1st resistance at 144.541, the swing-high resistance. Alternative scenario:Price could pull back from the pivot at 141.776 and reverse to the 1st support at 140.965, the swing-low support. To […]
TitleUSDCAD H4 | Potential bearish breakout TypeBearish Breakout Preference:USDCAD could continue with the downtrend and breakout of the pivot at 1.32575, the pullback support, and fall to the 1st support level at 1.30971, the swing-low support Alternative scenario:Price could bounce at the pivot at 1.32575, and rise to the 1st resistance at 1.33716, the pullback […]