Day: December 29, 2023
Brent Brent quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. However, the RSI is approaching the oversold area. In this situation, a test of 1/8 (76.56) is expected, followed by a rebound from this level and a rise to the resistance at 3/8 (79.69). The scenario could be […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Harami reversal pattern. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 2090.00. Upon testing the resistance, the price could break it and continue developing the uptrend. However, the quotes might correct to 2057.50 before the growth. […]
The primary currency pair declined on Friday. The current EURUSD exchange rate stands at 1.1062. Sharp price fluctuations, like those currently observed, are possible in a thin and low-liquidity market. The situation will become more predictable as most investors resume transactions after the New Year. The weekly report on initial jobless claims in the US […]
TitleGBPUSD H4 | Bullish bounce TypeBullish Bounce Preference:GBPUSD has bounced off the pivot at 1.27194, a multi-swing low support, the price could continue rising to 1st resistance level at 1.2813, the swing-high resistance. Alternative scenario:The price could pullback and revert to the 1st support at 1.26903, the overlap support which aligns with the 61.8% Fibonacci […]
TitleXAUUSD H4 | Potential bearish breakout TypeBearish Breakout Preference:XAUUSD could break out of the pivot at 2064.042, the multi-swing low support, and could fall to the 1st support at 2037.288, the overlap support level. Alternative scenario: The price could potentially rise to the 1st resistance at 2090.795, the swing-high resistance level. To discuss this trading […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.1040 is expected, followed by a rise to 1.1235. An additional signal confirming the rise will be a rebound from the lower […]
EURUSD, “Euro vs US Dollar” EURUSD has completed the first decline impulse to 1.1073 and a correction to 1.1112. When the correction was over, the structure of a new decline wave to 1.1055 started. Practically, the low of the first decrease wave is broken. A consolidation range is expected to develop today around 1.1055. With […]
TitleGBPJPY H4 | Bouncing off 23.6% Fibonacci Level TypeBullish Bounce Preference:GBPJPY is bouncing off the pivot at 179.821, the pullback support that also aligns with the 23.6% Fibonacci retracement level. The price could continue rising to the 1st resistance at 182.195, the swing-high resistance. Alternative scenario:The price could pullback and reverse to the 1st support […]
TitleCADJPY H4 | Rising to resistance level TypeBullish Bounce Preference:CADJPY could continue the uptrend from the pivot at 106.501, the pullback support, and rise to the 1st resistance at 108.107, the multi-swing high resistance level. Alternative scenario:The price could pullback and reverse to the 1st support at 106.199, which aligns with the 61.8% Fibonacci retracement. […]