Day: January 26, 2024
TitleEURUSD H4 | Rising to resistance TypeBullish Bounce Preference:Currently, the price has bounced off the pivot point at 1.08307, a swing-low support. Price is on an uptrend and could rise to 1st resistance at 1.09298, an overlap resistance. Alternative scenario:It might reverse and breakout of pivot point, from there it could fall to 1st support […]
BTC Selling Subsides The sell-off in Bitcoin appears to have lost momentum in recent days. Following a more than 20% decline from the YTD highs, BTC prices have stabilised since mid-week, failing to break lower ground. With much of the selling attributed to ETF outflows from those who bought in well before approval was granted, […]
Brent Brent quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. However, the RSI has reached the overbought area. In this situation, a downward breakout of 4/8 (81.25) is expected, followed by a price decline to the support level of 3/8 (79.69). The scenario could be cancelled by rising […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of correction to 1.0900 and a new decline wave to 1.0821. Today the quotes might correct the previous decline wave. The correction target is the 1.0860 level. Once it is reached, the next decline wave to 1.0790 could begin. This is the first target. GBPUSD, […]
TitlePullback Resistance at 61.8% Fibo TypeBearish Reversal Preference:Price could rise towards the pivot point of 1.27362 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 1.26573 which is a swing-low support level. Alternative […]
TitleEURGBP Day | Bearish continuation TypeBearish Breakout Preference:The current price is on the pivot point at 0.85259 an overlap support, it could breakout and continue with the downtrend and fall to 1st support at 0.83371, the swing-low support. Alternative scenario: If the trend reverses and bounces off the pivot point, it might rise to 1st […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0865 is expected, followed by a decline to 1.0695. An additional signal confirming the decline could […]
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 correction target could be the resistance level of 1.0880. However, the price might drop to 1.0790 and extend the downtrend without any pullback. […]
The EUR/USD faced a short-term sell-off, which was later recouped following the European Central Bank’s decision to maintain the Main Refinancing Operations Rate at 4.50% during its initial policy meeting in 2024. Despite market expectations aligning with the central bank’s decision, investors are now turning their focus to potential guidance on future interest rate cuts. […]
The price of Bitcoin is trying to remain under the broken support level of 40234. Should the asset stay there at the end of the trading week, its price might drop to the level of 35000. Of course, the bearish trap might potentially form. However, a price drop is ahead. So, let’s observe when it […]