Day: February 16, 2024
EURUSD, “Euro vs US Dollar” EURUSD is correcting after a rebound from the support. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0780 is expected, followed by a decline to 1.0625. An additional signal confirming the decline could be a […]
GDP Falls Again The British Pound is trading lower across the early European session on Thursday. The selling comes in response to the attest growth data out of the UK with preliminary Q4 estimates reflecting a -0.3% dip in GDP over Q4 2023. On the back of the unrevised -0.1% reading over the prior month, […]
TitlePotential Bullish Reversal TypeBullish Bounce Preference:Price is falling towards the pivot point of 81.212 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 83.272 which is a pullback resistance level. Alternative scenario:If […]
ETH on The Up Alongside the sizeable rally we’re seeing in Bitcoin currently, Ethereum is also making its way higher. The second largest-traded crypto coin has broken out this week, now trading back at levels last seen in early 2022, up around 35% from the YTD lows. The improved crypto sentiment on the back of […]
US Data Flow Continues Following a hotter-than-forecast CPI report earlier in the week, traders are today bracing for the next slew of US data. Retail sales will be the key release to watch, along with Empire Fed and Philly Fed manufacturing index readings and unemployment claims. Given the data we saw on Tuesday the subsequent […]
