Day: February 15, 2024

Core CPI Rises The US Dollar is pushing higher midweek on the back of yesterday’s US inflation figures. Annualised headline CPI was seen at 3.1% last month, lower than the 3.4% seen a month prior but above the 2.9% the market was looking for. Month on month, headline CPI was unchanged at 0.3%. However, core […]

TitlePotential Pullback before Resuming the Uptrend TypeBullish Bounce Preference:Price could fall towards the pivot point of 1.35412 which is a pullback support that aligns with the 23.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.36207 which is a pullback resistance that aligns […]

XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 2010.00. Upon testing the resistance, the price might rebound from it and continue developing the downtrend. However, the quotes could drop to 1980.50 before correcting. […]

USDJPY, “US Dollar vs Japanese Yen” The USDJPY pair and the RSI on H4 are in their respective overbought areas. In this situation, a test of 8/8 (150.00) is expected, followed by a breakout of the level and a price decline to 7/8 (148.43). The scenario could be cancelled by rising above +1/8 (151.56). In […]