Market Analysis

Powell’s testimony in Congress had a negative impact on the dollar, causing the US currency index to bounce off the upper boundary of the bearish channel, dropping by 102 points and forming a double bottom reversal pattern: Yesterday, the head of the Federal Reserve expressed uncertainty about the need for future tightening and used a […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting in a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the support area at 1.2675 is expected, followed by a rise to 1.2945. An additional signal confirming the rise will be a rebound from the lower […]

EURUSD, “Euro vs US Dollar” The currency pair has broken the consolidation range upwards and completed a structure of growth to the 1.1010 level. Today the market is forming a pattern of a declining wave to 1.0925. After this level is reached, a link of growth to 1.0955 (test from below) is possible, followed by […]

BTC Driving ETH Higher The surge higher in Bitcoin this week has seen the broader crypto market recovering also. Bitcoin futures are now up around 25% off last week’s lows. The move comes in response to news that Blackrock Capital has applied to the SEC to launch a new Bitcoin ETF. Such a large name […]

TitleNZDUSD H4 | React off 78.6 % TypeBearish Reversal Preference:Price is moving up towards our pivot point of 0.62347 which is an overlap resistance level that aligns with 78.6% Fibo retracement. A reverse from here, price could fall to 1st support level at 0.61725 which is pullback support level. Alternative scenario:However, if it breaks above […]

  Hawkish Risks The big focus in FX markets today will be the June Bank of England meeting. The BOE had been tipped to hike rates by a further .25%, marking the 13th consecutive rate hike and the fastest increase in monetary tightening in thirty years. However, on the back of a set of hot […]

Bitcoin has tested the psychological level of 30000. The asset has closely approached the key resistance level of 31000. Bitcoin might potentially rebound and drop. However, considering the recent abrupt price growth, the asset might also jump and break the level of 30000 instead. It would be interesting to follow the price movements next to […]

The British pound sterling is saving strength for daily movements against the US dollar. The current GBPUSD quote is 1.2760. Today the key event is the meeting of the Bank of England. The interest rate is expected to rise by 25 basis points to 4.75% per annum. Furthermore, financial markets see the probability of an […]

TitleGBPUSD H1 | React off 1st resistance TypeBullish Breakout Preference: Price is  approaching our pivot point of 1.27699 which is an overlap resistance level. If it reverse from here, price could fall to 1st support level at 1.26979  which is an overlap support that aligns with 38.2% FIbo retracement  Alternative scenario: However. if price breaks […]

TitleUSDCAD H4 | Bounce off from Fibo confluence TypeBullish Bounce Preference:Price is falling towards our pivot point of 1.31165 which aligns with   -27.2% Fibo expansion and 161.8% Fibo extension, indicating the Fibo confluence zone. A reverse from here, price could rally to 1st resistance at 1.31762 which is a pullback  resistance level. Alternative scenario:However, […]

USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are under the 200-day Moving Average on H4, which indicates the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downward breakout of 2/8 (0.8911) is expected, followed by a decline to the support at 1/8 (0.8850). The scenario can […]

The market’s most traded currency pair has increased noticeably overnight. The current EURUSD quote is 1.0980. The US dollar dropped after the speech delivered by the chairman of the Federal Reserve System Jerome Powell. Speaking before policymakers at Capitol Hill, Powell stuck to his previous viewpoint concerning the interest rate and did not exclude that […]