Day: March 6, 2024
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is testing the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2670 is expected, followed by a rise to 1.2785. An additional signal confirming the rise might be a rebound from the lower boundary […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes remain in the overbought area on H4. The RSI has broken the support line. In this situation, the pair is expected to break the 8/8 (150.00) line, subsequently falling to the support at 6/8 (148.43). The scenario could be cancelled by rising above +1/8 (150.78), in which […]
TitleHeading into Resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 1.08657 which is a multi-swing-high resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.07988 which is a multi-swing-low support that aligns close to the 50.0% Fibonacci retracement level. Alternative scenario:If […]
BTC Pause at Highs As expected, we’re seeing plenty of volatility around the former all time-highs in Bitcoin. BTC futures surged to fresh record highs of $70195 yesterday, just topping the prior highs of $69355 before sharply reversing lower. Futures prices plunged more than 13% on the day before bottoming out and today, trading back […]
The British pound sterling is gaining strength against the dollar. The current GBPUSD exchange rate stands at 1.2704. According to the British Retail Consortium (BRC) report, total retail sales volume in February increased by 1.1% y/y compared to the 5.2% rise one year ago. This figure does not consider inflation, which amounted to 4% in […]
The New Zealand dollar maintains a weak position against the US dollar. The current NZDUSD exchange rate stands at 0.6095. The Reserve Bank of New Zealand may cut interest rates sooner than planned, but only if the US Federal Reserve takes the first step. According to the RBNZ’s chief economist, Paul Conway, the Central Bank […]
Rout Continues Shares in Apple remain under heavy selling pressure this week as the stock extends its recent decline. Apple shares are now trading down around 14% from their recent highs, despite the broader rally we’re seeing in US tech stocks currently. Indeed, with Apple having shed around $300 billion of its overall value during […]
TitleFalling to 61.8% Fibonacci Support TypeBullish Bounce Preference:Price is falling towards the pivot point of 0.88249 which is a pullback support that aligns with the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.88931 which is a pullback resistance level. Alternative […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a growth wave, reaching a local target of 1.0875. Today a correction structure targeting 1.0839 (testing from above) is expected. After the correction, an upward movement towards 1.0877 could follow, with the price subsequently declining to the first target of 1.0840. GBPUSD, “Great Britain Pound […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be the support at 1.0835. However, the price might rise to 1.0890 and extend the uptrend without any correction. […]
