Day: February 24, 2024
Yen Under Pressure The Japanese Yen remains under pressure as we head towards the weekend. JPY has been under steady selling pressure this week as the BOJ’s continued commitment to keeping rates at ultra-low levels remains at odds with other central banks in the G10 space. Indeed, while the prospect of rate cuts has become […]
TitlePotential Bearish Breakout TypeBearish Breakout Preference:Price is falling towards the pivot point of 1.34789 which is a potential breakout level and could drop lower from here; we could see momentum carry price down to its 1st support at 1.34448 which is a multi-swing-low support that aligns close to the 61.8% Fibonacci projection level. Alternative scenario: […]
TitleUSDCHF H1 | Bearish Continuation expected TypeBearish Drop Preference:Price is currently at the pivot point of 0.8803, an overlap resistance level. A reverse from this level could lead the price to fall to 1st support at 0.8751. Alternative scenario:If price breaks above the pivot, it could rise to 1st resistance at 0.8845, a pullback resistance […]
Bitcoin Still Holding Bitcoin prices remain stalled at recent highs as we head into the weekend. Following the breakout move higher last week, bullish momentum has faded for now as traders await fresh directional cues. One reason for the current holdup is the Fed’s continued pushback against near-term rate-cut expectations. The FOMC minutes this week […]
TitlePotential Bearish Momentum TypeBearish Drop Preference:Price is currently trading around the pivot point of 83.241 and strong bearish momentum could potentially drive price lower down towards its 1st support at 82.345 which is a pullback support level. Alternative scenario:If price reverses from the pivot point, it could hit the 1st resistance at 83.786 which is […]
Crude Caught In Between Following a strong move higher over early February, which looked to be setting the market up for a breakout higher, crude futures have stagnated over the last week. Price remains in a tightly wound block of consolidation around the 77.64 level as traders await fresh directional drivers. The ongoing conflict in […]