Day: February 26, 2024
USD On Watch The US Dollar is in focus this week as traders brace for a slew of tier-one data. The headline release to focus on will be core PCE data due on Thursday. Given the importance of the data for the Fed in calculating true inflation, the release holds the potential to create […]
The price of Ethereum is trying to undergo a correction, although its depth is not known yet. The asset’s price might potentially rebound to the broken level of 2716.50, pull back, and rise. So, let’s observe whether it is likely to happen. The price of Brent oil rebounded from the resistance level of 84.00 and […]
EURUSD, “Euro vs US Dollar” EURUSD quotes are on the 200-day Moving Average on H4, revealing a lack of any trend. The RSI is testing the support line. As a result, in this situation, the quotes are expected to rise above 3/8 (1.0833), later reaching the resistance at 5/8 (1.0894). The scenario could be cancelled […]
The primary currency pair appears strong on Monday. The current EURUSD exchange rate stands at 1.0822. Although the week begins calmly, investors will have numerous reasons to react later. The US inflationary components will be particularly crucial, given the Federal Reserve’s cautious stance on interest rates. On Thursday, the inflationary components, including core PCE and […]
Copper Lower on Monday Copper prices are under pressure at the start of the week with futures currently down around 1.75% from last week’s highs. The move is likely partly due to position squaring ahead of a slew of key US economic data this week. Durable goods, GDP and core PCE are all on deck […]
TitleUSDCHF H1 | Bearish Drop TypeBearish Drop Preference:Price is currently at the pivot point of 0.8813, A fall from this level could lead the price to fall to 1st support at 0.8752 Alternative scenario:If price breaks above the pivot, it could rise to 1st resistance at 0.8844, a pullback resistance To discuss this trading idea, […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rebounding from the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2635 is expected, followed by a rise to 1.2780. An additional signal confirming the rise might be a rebound from the lower […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Stick Sandwich reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the 1.3575 mark. Next, the price might break the resistance and extend the uptrend. However, the quotes could correct to 1.3475 […]