Day: May 16, 2024
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI is testing the support line. In this situation, the price is expected to surpass the 6/8 (0.9033) level and rise to the resistance at 8/8 (0.9277). The scenario could be cancelled by a […]
The Japanese yen, paired with the US dollar, has significantly strengthened. The current exchange rate for USDJPY stands at 153.88. The yen found support as the US dollar fell. Following the release of inflation data the previous day, the likelihood of a Federal Reserve interest rate cut increased markedly. Inflation in April slowed to 3.4% […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rising within a bullish channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2635 is expected, followed by a rise to 1.2835. An additional signal confirming the rise will be a rebound from the lower […]
The primary currency pair remains in positive territory on Thursday. The current EURUSD exchange rate stands at 1.0885. The US dollar experienced a decline, and risk appetite surged immediately after the release of the latest US inflation and retail sales reports. In April, the core consumer price index dropped to 3.6% y/y from 3.8%, and […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has exited the consolidation range upwards and completed a corrective wave, reaching 1.0894. Today, a decline wave could develop, aiming for 1.0805. After reaching this level, the price could rise to 1.0850 (testing from below) and then decline to 1.0770, with the trend potentially continuing to the […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Engulfing reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 1.3660. Next, the price might rebound from the resistance level and continue its downward momentum. However, the quotes could decline to 1.3555 […]