Market Analysis

TitleDXY H4 | Potential bearish reversal TypeBearish Reversal Preference:Price has just reversed from our pivot point of 103.7523 which is a pullback resistance that aligns with a 78.6% Fibonacci retracement. A reverse from here, price could fall to 1st support level at 103.1057 which is a pullback support level Alternative scenario:However, if price breaks above […]

EURUSD, “Euro vs US Dollar” The currency pair has completed a corrective wave to 1.0800. Today the market continues developing a wave of decline to 1.0730. After the price reaches this level, a consolidation range could form around it. It might later extend downwards to 1.0700. Next, a corrective rise to 1.0828 could form. GBPUSD, […]

USDCHF, “US Dollar vs Swiss Franc” On H4, the quotes have broken the 200-day Moving Average and are now above it, which indicates the probability of an uptrend development. The RSI is nearing the overbought area. In this situation, the quotes are expected to rise above 5/8 (0.9094) and reach the resistance level of 6/8 […]

TitleXAUUSD H4 | React off 38.2% TypeBearish Reversal Preference:Price has just reacted off the pivot point of 1981.517 which is an overlap resistance that aligns with a 38.2% Fibonacci retracement. A reverse from here, price could fall to our 1st support at 1958.267 which is a swing low support level. Alternative scenario:However, if price breaks […]

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GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has secured above the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2415 is expected, followed by a decline to 1.2235. An additional signal confirming the decline will be a rebound from the upper […]

EURUSD, “Euro vs US Dollar” On H4, near the resistance level, EURUSD has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decrease target could be 1.0695. However, the price might correct to 1.0770 and continue the downtrend after testing the resistance. USDJPY, “US Dollar […]

Bailey Admits Mistakes Bank of England governor Andrew Bailey has come under fire over comments made during a speech yesterday where he admitted that the BOE had made mistakes over its response to rising inflation. The BOE was widely criticised for not acting early or aggressive enough with its monetary tightening. In comments yesterday, Bailey […]

TitleAUDUSD H4 | Bounce off 1st support TypeBullish Bounce Preference: Price is falling to our pivot point of 0.65787 which is a swing low support level. A bounce from here. price could rally to 1st resistance at 0.66063 which is a pullback resistance level Alternative scenario:However, of price breaks below the pivot, it could fall […]

The British pound looks neutral against the US dollar. The current GBPUSD quote is 1.2450. This morning’s statistics from the UK provided food for thought. Inflation fell to single digits for the first time in eight months. At the same time, the indices for services and base prices have risen at the fastest rate in […]

RBNZ Hiking Finished  The New Zealand Dollar is falling sharply today on the back of the latest RBNZ meeting overnight. Despite the central bank hiking rates by a further .25%, the sell-off emerged as governor Orr signalled no further hikes were likely near-term. Notably, some policy makers had been in favour of holding rates unchanged […]

The data on British inflation has caused serious concerns in the markets about the prospect of a renewed acceleration of inflation worldwide. The core inflation (which excludes volatile goods) jumped from 6.2% to 6.8% in April. It was expected that the pace of price growth would remain unchanged. In just one month, the price level […]