Day: January 19, 2024

Gold Under Pressure Gold prices have come under heavy selling pressure this week with gold futures revering sharply lower from their initial Monday highs. The week started on a good footing for gold bulls with safe-haven demand driving the asset higher. However, a shift in the market’s central bank outlook across the week has seen […]

TitlePotential Bullish Bounce TypeBullish Bounce Preference:Price is trading close to the pivot point of 0.86371 which is an overlap support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.87166 which is an overlap resistance that aligns with the 78.6% Fibonacci retracement level. Alternative scenario:If […]

The EURUSD is attempting to develop the ascending impulse that emerged in the second half of the American session yesterday. However, resistance appeared above the 1.09 level, causing the price to drop below, and it is consolidating near the round level. Higher timeframes indicate a breakout of the ascending corridor, which strengthened after the release […]

TitlePotential Bearish Reversal off 50% Fibo Resistance TypeBearish Reversal Preference:Price is trading close to the pivot point of 1.26907 which is an overlap resistance that aligns with the 50.0% Fibonacci retarcement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.26412 which is a pullback […]