Day: March 11, 2024
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1.3515. Next, the price could break the resistance and extend the uptrend. However, the quotes might correct to 1.3430 before growing. AUDUSD, […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has extended a consolidation range upwards to 1.0980. A decline wave structure is forming towards 1.0918. Next, a growth link to 1.0949 is not excluded, after which a new decline wave to 1.0888 could begin. This is a local target. GBPUSD, “Great Britain Pound vs US Dollar” […]
TitleGBPUSD H1 | Dropping to support? TypeBearish Drop Preference: Price is currently at the pivot point of 1.2849, an overlap resistance. A drop from this level could lead the price to fall to 1st support at 1.2761, a pullback support level. Alternative scenario: If the price breaks above the pivot, it could rise to 1st […]
GBP Breaking Out The British Pound is attempting to breakout against the US Dollar with GBPUSD currently testing YTD highs. USD has moved lower recently in line with worsening US economic data and the view that the Fed might cut rates as soon as June. Friday’s US labour market readings showed a sharp drop in […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has gained a foothold above the Tenkan-Sen line. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2815 is expected, followed by a rise to 1.2995. An additional signal confirming the rise might be a rebound from […]
EURUSD, “Euro vs US Dollar” EURUSD quotes rebounded from the resistance level at 8/8 (1.0986) on H4, suggesting the potential development of a corrective movement. The RSI has exited the overbought area. In this situation, the price is expected to test the 5/8 (1.0864) level, rebound from it, and rise to the resistance at 8/8 […]
The price of the currency pair EUR/USD has closely approached the resistance level of 1.1000. The asset’s price might eventually rebound from this resistance and drop. In this case, it would be important to follow the candlestick formations next to this level to forecast the upcoming price movements. The price of silver is heading up […]
TitlePotential Bearish Breakout TypeBearish Breakout Preference:Price could fall towards the pivot point of 0.61667 which is a potential breakout level and could drop lower from here; we could see momentum carry price down to its 1st support at 0.61405 which is an overlap support that aligns with the 50.0% Fibonacci retracement level. Alternative scenario:If price […]
