Day: February 29, 2024

EURUSD, “Euro vs US Dollar” The EURUSD pair has corrected to 1.0845. Today the market is forming a consolidation range around 1.0836. With an escape from the range upwards, the correction might extend to 1.0853. With a downward escape, the potential for a decline to 1.0800 could open. And if this level also breaks, the […]

The primary currency pair is consolidating on Thursday. The current EURUSD exchange rate is standing at 1.0835. The market is conserving its strength as the most critical inflation component, which the US Federal Reserve pays attention to, is due to be released tonight. This is the Core PCE index. Given investors’ uncertainty about the timing […]

TitlePotential Bearish Reversal TypeBearish Reversal Preference:Price could rise towards the pivot point of 0.61197 which is an overlap resistance that aligns with the 23.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 0.60559 which is a swing-low support level. Alternative scenario:If price breaks […]

TitleApproaching Overlap Support TypeBullish Bounce Preference:Price is falling towards the pivot point of 0.87715 which is an overlap 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 0.88329 which is a pullback resistance that aligns with […]

XAUUSD, “Gold vs US Dollar” Gold has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be 2020.00. After testing the support, the price might break below it and maintain its downward trajectory. However, the quotes could correct to 2040.00 before falling. […]

EURUSD, “Euro vs US Dollar” The EURUSD currency pair extends a decline wave to 1.0830. Practically, a consolidation range continues developing around this level. With an upward escape from the range, the correction might extend to 1.0870. A downward escape could open the potential for a decline wave to 1.0790, from where the trend might […]