Day: January 10, 2024

The Australian dollar, paired with the US dollar, has entered positive territory. The current AUDUSD exchange rate stands at 0.6701. The Aussie has distanced itself from its four-week low. It achieved this even after the latest inflation statistics, which showed signs of cooling prices. In November, Australia’s Consumer Price Index (CPI) rose by 4.3% year-over-year, […]

The British pound sterling, paired with the US dollar, is holding in close proximity to the five-month peak. The current GBPUSD exchange rate stands at 1.2702. The market is confident that the Bank of England will initiate the interest rate-cut phase later than the US Federal Reserve. The baseline market forecast suggests that interest rates […]

TitleGBPUSD M5 | Bearish reversal TypeBearish Reversal Preference:Wait for price to pullback at the pivot point at 1.27049 , an overlap resistance, A reverse from this point, could lead the price to fall to 1st support at 1.2671, a multi swing low support level Alternative scenario:If price breaks above the pivot, it might rise to […]

TitlePotential Bearish Breakout TypeBearish Breakout Preference:Price is falling towards the pivot point of 2.03212 which is a pullback support level and could potentially drop lower from here; we could see momentum carry price down to its 1st support at 2.01867 which is a pullback support that aligns close to the 61.8% Fibonacci retracement level. Alternative […]

EURUSD, “Euro vs US Dollar” EURUSD is correcting within a Triangle pattern. The instrument is going under the Ichimoku Cloud, revealing the prevalence of a downtrend. A test of the lower boundary of the Cloud at 1.0955 is expected, followed by a decline to 1.0785. The decrease could be additionally supported by a rebound from […]

AUDUSD, “Australian Dollar vs US Dollar” The AUDUSD quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 6/8 (0.6713), subsequently reaching the resistance at 7/8 (0.6774). The scenario could be cancelled by a […]

TitleEURUSD M15 | Bearish reversal TypeBearish Reversal Preference:Price is rising toward the pivot point at 1.0935 , a multi swing high resistance, A reverse from this point, could lead the price to fall to 1st support at 1.0994, a multi swing low support level Alternative scenario: If price breaks above the pivot, it might rise […]

TitlePotential Bearish Reversal TypeBearish Reversal Preference:Price has just reversed off the pivot point of 184.063 which is a multi-swing-high resistance  level and could potentially drop lower from here; we could see momentum carry price down to its 1st support at 181.902 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level. […]

EURUSD, “Euro vs US Dollar” EURUSD continues forming a consolidation range around 1.0944 without any obvious trend. With an escape from the range upwards, a correction could develop to 1.1010. With a downward escape, the potential for a decline wave to 1.0733 might open. This is the first target. GBPUSD, “Great Britain Pound vs US […]

EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the resistance at 1.1015. However, the price might drop to 1.0890 and continue the uptrend after the correction. USDJPY, […]