Day: March 5, 2024
The Australian dollar is declining smoothly against the US dollar. The current AUDUSD exchange rate stands at 0.6499. Morning statistics showed that the PMI in the services sector rose to 53.1 points in February from 49.1 points earlier. The forecast expected an increase to 52.8 points. The fact that the indicator returned above the psychologically […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI has broken the support line. In this situation, a further decline to the 0/8 (0.6469) is expected, while the scenario could be cancelled by rising above the resistance at 2/8 (0.6530). […]
TitleEURGBP Day | Potential bullish breakout TypeBullish Breakout Preference:The price is on the pivot at 0.85536and it could continue to trend higher and breakout of the pivot point. A breakout could lead the price to rise to the 1st resistance at 0.86209, the overlap resistance that aligns with 61.8% Fibonacci retracement. Alternative scenario:Price could reverse […]
BTC Rally Continues Bitcoin prices touched their highest level on record over night, before softening back a touch for now. BTC futures reached highs of 69595 overnight, eclipsing the prior all-time-highs of 69355, set in November 2021. The leading crypto coin has been on an impressive run higher in recent weeks, up almost 80% from […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a growth wave to 1.0866. A correction structure to 1.0843 (testing from above) is expected today. Once the correction is over, a growth structure to 1.0880 is not excluded. Next, a new decline wave to 1.0840 is expected to begin. This is the first target. […]
XAUUSD, “Gold vs US Dollar” Gold is rising within the bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 2100 is expected, followed by a rise to 2145. An additional signal confirming the rise will be a rebound from the lower boundary of […]
TitleGBPJPY H4 | Potential bullish bounce TypeBullish Bounce Preference:The price is on a downtrend and could fall to the pivot point at 189.989, the pullback support that aligns closely with the 50% Fibonacci retracement. Price could bounce off the pivot and rise to the 1st resistance at 191.277, the swing-high resistance. Alternative scenario:Price could breakout […]
US Data Due The US Dollar continues to trade in a very tight range ahead of today’s US ISM services PMI. Price action in DXY has stagnated over the last week in response to a slew of weaker-than-forecast data which seems at odds with the Fed’s message over keeping rates in restrictive territory. A sharp […]
TitleGBPUSD H1 | Bearish reversal TypeBearish Drop Preference:Price is currently at the pivot point of 1.273 a swing-high resistance. A reverse from this level could lead the price to fall to 1st support at 1.2643, a pullback support level. Alternative scenario:If the price breaks above the pivot, it could rise to 1st resistance at 1.2672, […]
TitlePotential Bullish Bounce TypeBullish Bounce Preference:Price could fall towards the pivot point of 84.045 which is a pullback support that aligns with the 23.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price up to its 1st resistance at 84.955 which is a pullback resistance level. Alternative scenario:If price breaks […]