The price of Bitcoin keeps reversing. It should undergo correction soon. The asset’s price might not only gain the required support at the levels 49000 and 45500 but also dive even deeper and hit the psychological level of 40000, rebound, and rise. Hence, it would good to follow the candlestick formations next to these levels. […]
TitleNZDUSD H4 | Bearish reversal TypeBearish Reversal Preference:The price could react off the pivot at 0.62063, the overlap resistance. Then it could fall to the 1st support at 0.62587, the overlap support. Alternative scenario:Price might breakout of the pivot and rise to 1st resistance at 0.62587, the multi-swing high resistance. To discuss this trading idea, […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be the 2040.00 level. Upon testing the resistance, the price could rebound from this level and continue developing the downtrend. However, the quotes might drop to […]
EURUSD, “Euro vs US Dollar” The EURUSD pair completed a growth wave structure to the 1.0823 level. Today the market has formed a consolidation range around this level and, escaping it upwards, might extend the correction to 1.0852. Once it is over, a new decline wave to 1.0774 could begin. GBPUSD, “Great Britain Pound vs […]
USD Falls Despite Hawkish Fed Minutes The US Dollar is trading lower today on the back of yesterday’s FOMC minutes, despite the minutes taking a broadly hawkish tone. Policymakers agreed that significant progress had been made on inflation but were concerned over the risks of tightening too early. While members agreed that the tightening cycle […]
Iron Ore Under Pressure Iron ore bulls will be hoping that the current weakness in USD extends further today, helping stem the sell off in the metal. Iron ore futures have shed around 13% so far this year as concerns over the health of the Chinese economy have weakened the demand outlook for the metal. […]
The Japanese yen, paired with the US dollar, continues to consolidate. The current USDJPY exchange rate stands at 150.22. On Thursday, the Japanese Minister of Finance, Shunichi Suzuki, stated that the authorities have no defence line for the currency and the market. At the same time, the government deems it necessary to monitor volatility in […]
The primary currency pair experienced a significant increase on Thursday. The current EURUSD exchange rate stands at 1.0837. Yesterday, the main focus was on the publication of the US Federal Reserve’s previous meeting minutes, which revealed that most monetary policymakers are concerned about the risks associated with rapidly lowering interest rates. The current concern for […]
Bitcoin Rally Pauses…For Now Following a breakout move higher last week, Bitcoin futures have stalled for now into a test of the 53385 level. However, with BTC whales (accounts holding +1000 BTC units) seen adding bullish positions in recent weeks, sentiment has shifted firmly to the upside and focus is on a fresh push north. […]
NVIDIA Earnings Due Today promises to be an important day for the tech sector with chipmaker Nvidia due to report Q4 earnings after the market closes. The stock plunged more than 6% yesterday, wiping around $100 billion off the company’s value, as traders covered positions ahead of today’s report. The stock has been on an […]