Market Analysis

TitleAUDUSD H4 | Reverse from a key resistance TypeBearish Reversal Preference:Price has just reversed from our pivot point at 0.67172 which is a pullback resistance that lines up with 61.8% Fibonacci retracement.  If price were to reverse, it could falling to 1st support at 0.66605 which is a pullback support level Alternative scenario:However, if price […]

TitleXAUUSD H4 | Falling to support TypeBullish Bounce Preference:Price is approaching our pivot point of 1968.282 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 2012.197. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 1950.399. To discuss this trading idea, […]

XAUUSD, “Gold vs US Dollar” Near the resistance, gold has formed a Shooting Star reversal pattern. The instrument is now going by the reversal signal in a descending wave. The target for the correction could be 2000.00. Upon testing the support, the price might get a chance for a rebound and further development of the […]

EURUSD, “Euro vs US Dollar” The currency pair completed a structure of decline to 1.0943. At a certain point, the market returned to 1.0000 and formed a consolidation range around this level. If the price escapes the range upwards, the correction could continue to 1.1058. With an escape downwards, the wave of decline could continue […]

Daily Market Outlook, May 3, 2023 Banking sector concerns once again dominated the headlines on Wall Street as regional banks took the brunt of the selling as the regional bank ETF closed out the day down over six percent. Asian equity investors took their lead from Wall Street’s negativity as they mostly traded in the […]

Aussie Rates At Highest Level Since 2012 The Aussie is soaring today on the back of the RBA unexpectedly announcing a fresh rate hike at its May meeting overnight. The bank hiked rates from 3.6% to 3.85%, marking their highest level since 2012, despite having made the decision at the prior meeting to keep rates […]

The Australian dollar against the US dollar has increased abruptly. The current quote is 0.6703. At the meeting today, the Reserve Bank of Australia decided to lift the interest rate by 25 base points to 3.85% per annum. This was unexpected: only 9 economists out of 30 polled by Bloomberg had expected this. In the […]

EURUSD, “Euro vs US Dollar” The currency pair has completed a structure of decline to 1.0963. A correction to 1.0995 could follow today. After it is over, a decline to 1.0925 is expected, from where the wave could continue to 1.0888. The target is local. GBPUSD, “Great Britain Pound vs US Dollar” The currency pair […]

Daily Market Outlook, May 2, 2023 Most major money center’s have reopened after May day public holidays, Wall Street traded in a tight range given the lower overall volumes, Asian equity markets are mixed as investors are positioning for a slew of Central bank meetings for the week ahead. Overnight the Reserve Bank of Australia […]

Title USDJPY H4 | React off 1st resistance Type Bearish Reversal Preference: Price is nearing our pivot point at 137.756 which is swing high resistance that lines up with -61.8% Fibonacci expansion. A reverse from here, price could drop to 1st support at 136.793 which is a pullback support level. Alternative scenario: However, If price […]

The Japanese yen against the US dollar has dropped to its local lows. The current quote is 137.52. The decision of the Bank of Japan to stick to its soft credit and monetary policy logically played against the yen. At the last BoJ meeting, the interest rate remained at -0.10% per annum. The yield curve […]

EURUSD, “Euro vs US Dollar” On H4, near the support level the pair has formed a Harami reversal pattern. The instrument could now go by the reversal signal in an ascending wave. The target for the growth will be 1.1060. However, the price may correct to 1.0950 and continue the uptrend after testing the support. […]