Day: March 14, 2024
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the 1.3525 mark. Next, the price might break above the resistance and maintain its upward trajectory. However, the quotes could undergo […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are in the overbought area on H4, while the RSI is nearing the resistance line. In this situation, a breakout of the 8/8 (0.8789) level is expected, followed by a decline to the support at 6/8 (0.8667). The scenario could be cancelled by a breakout of the […]
Gold Stalls Above Former Highs Gold prices continue to hold above the broken 2149.72-level former all-time highs. Following a breakout move last week, price has since softened as traders digest recent US data. An upside beat on the headline NFP reading for last month along with a hotter-than-forecast inflation reading have caused some near-term uncertainty […]
TitleEURUSD H4 | Bearish Drop TypeBearish Drop Preference:Price has reacted the pivot point of 1.0943, A drop from this level could lead the price to fall to 1st support at 1.0902. an overlap support level Alternative scenario: If the price bounces the pivot, it could rise to 1st resistance at 1.0987, above swing high resistance […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a correction wave towards 1.0963. Practically, the market has set the frames for a consolidation range. A decline link to 1.0878 is expected today. Breaking this level, the price could extend the trend to 1.0800, from which level the wave structure might form towards 1.0777. […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the indicator’s signal lines. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.0920 is expected, followed by a rise to 1.1060. An additional signal confirming the rise might be a rebound from the […]
TitleFalling to 50% Fibonacci Support TypeBullish Bounce Preference:Price is falling towards the pivot point of 1.34729 which is a pullback support that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.35451 which is a pullback resistance level. Alternative […]
The British pound sterling, paired with the US dollar, is holding its ground. The current exchange rate for GBPUSD stands at 1.2794. Earlier published data indicated a 0.2% m/m increase in the UK’s GDP for January but a 0.3% y/y decrease, as expected. The country’s industrial production volume decreased by 0.2% month-on-month in January. The […]
The primary currency pair is consolidating on Thursday. The current exchange rate for EURUSD stands at 1.0940. US Treasury Secretary Janet Yellen expects a future decline in inflation, primarily due to the slowdown in housing price growth. Housing expenses are recognised to carry the most significant weight within the Consumer Price Index (CPI) structure, accounting […]
Fresh Highs in BTC Bitcoin is once again trading at fresh, record highs today after the leading crypto currency recovered from a 6% correction lower yesterday. Volatility around the latest US inflation report saw BTC futures briefly dipping lower to retest the broken prior highs around 69355. However, the level held as support and despite […]
