Day: March 7, 2024

TitlePotential Bullish Breakout TypeBullish Rise Preference:Price has just broken above a potential breakout level and could climb higher from here. The pivot point of 0.65874 is a suitable entry point and  we could see momentum carry price up to its 1st resistance at 0.66160 which is a pullback resistance level. Alternative scenario:If price reverses from […]

TitleCADJPY H4 | Potential bullish breakout TypeBullish Breakout Preference:The price could continue to rise and breakout of pivot at 110.322, the swing-high resistance aligning with 23.6% Fibonacci retracement. Then it could continue to rise to 1st resistance at 110.962. Alternative scenario:It might fall to the 1st support at 109.602, the swing-low support. To discuss this […]

TitlePotential Bullish Bounce TypeBullish Rise Preference:Price has just reacted off a pullback support that aligns with the 61.8% Fibonacci retracement level and momentum could carry price higher. Pivot point is at the market price of 82.725 and bullish momentum could carry price up to its 1st resistance at 84.088 which is a pullback resistance that […]

Powell on Deck Looking ahead today we have plenty to focus on in FX markets with the first of Fed chair Powell’s testimony due, as well as the ADP employment figure and the JOLTS job openings release. FX markets have seen an absence of volatility recently as traders await the next big directional cues. In […]