Market Analysis

USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are in the oversold area on H4. The RSI has rebounded from the support line. In this situation, the price is expected to break the 0/8 (0.8789) level and rise to the resistance at 1/8 (0.8911). The scenario can be cancelled by a downward breakout of the […]

TitleEURUSD H4 | Bounce off Fibo confluence? TypeBullish Bounce Preference: Price is falling towards the pivot point of 1.09185 which is a pullback support that aligns with a confluence of Fibonacci levels (the 78.6% retracement and 61.8% projection levels) and could potentially reverse from here; we could see momentum carry price up to its 1st […]

Hawkish Risks Into BOE The main event for traders today will be the August Bank of England meeting. GBP is trading lower ahead of the meeting, despite the BOE being widely expected to hike rates by a further .25%. Indeed, over the last week many players have cited their view that the bank might hike […]

EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be the resistance at 1.1030. However, the price could correct to 1.0880 and continue the uptrend after the pullback. USDJPY, […]

EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of decline to the 1.0920 level. Today the market is forming a consolidation range above this level. A downward breakout is expected with the wave continuing by the trend to the 1.0868 level and the structure potentially extending to the 1.0840 level. A correction to […]

TitleUSDCAD H1 | Potential bearish divergence? TypeBearish Reversal Preference: Price has just reacted off out pivot point of 1.33012 which is a multi swing high resistance level. A reverse from here, price could fall to 1st support at 1.32617 which is an overlap support Alternative scenario: However, if price breaks above the pivot it could […]

TitleUSDCHF H4 | Bearish reaction off 38.2% Fibo? TypeBearish Reversal Preference:Price is rejecting the 38.2% fibo retracement level, which is the pivot point at 0.8776. Price could potentially form a double top, and have a bearish reaction, to fall to the 38.2% fibo retracement level at the 1st support at 0.8700. Alternative scenario:If price breaks […]

TitleSPX500USD H4 | Bullish bounce off 38.2% fibo? TypeBullish Bounce Preference:Price is approaching our pivot point at 4530.4, which is a pullback support level, and it aligns with the 38.2% fibo retracement level. If price bounces off our pivot point, price would most likely head towards the 1st resistance at 4610.1, which is a swing […]

Paypal Earnings on Deck US payment systems company Paypal is due to report Q2 earnings today and, on the back of 5 consecutive quarters of earnings growth, traders are keen to see if the company can make that 6. On the numbers front, the market is looking for EPS of $1.154 on revenues of $7.274 […]

TitleGBPUSD H4 | Potential bullish reversal? TypeBullish Bounce Preference: Price is currently at our pivot point of 1.27734 which is an overlap support that lines up with 61.8% Fibo projection. A bounce off from here, price could push up to 1st resistance at 1.28715 Alternative scenario:However, if price breaks below the pivot, it could fall […]

US Data Disappoints The US Dollar is trading higher today as stocks come under pressure on the back of weak US data yesterday and a ratings downgrade from Fitch. On the data front, the US ISM manufacturing PMI was seen printing 46.4, below the 46.9 the market was looking for. Meanwhile the ISM prices index […]

USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are hovering above the 200-day Moving Average on H4, which indicates a prevailing uptrend. The RSI is nearing the support line. In these circumstances, the quotes are expected to test the 6/8 (142.18) level, then rebound from it and reach the resistance at 8/8 (143.75). The scenario […]