Market Analysis

USDCAD, “US Dollar vs Canadian Dollar” On H4, the pair has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the correction might be 1.3495. Then the price could rebound from this level and continue the downtrend. However, the quotes may drop to […]

AUDUSD, “Australian Dollar vs US Dollar” On H4, AUDUSD quotes have broken the 200-day Moving Average and are now above it, hinting on possible development of an uptrend. The RSI is testing the support line. In these circumstances, we expect the price to rise above 3/8 (0.6774) and afterwards grow to the resistance at 4/8 […]

TitleDXY H4 | Fibo confluence TypeBearish Reversal Preference:Price is approaching our pivot at 102.7001, which has 3 fibo confluences: a 78.6% Fibonacci retracement, a 127.20% Fibonacci extension, and a 61.8% Fibonacci projection, as well as a descending trendline. If the price were to break above the pivot point, it could potentially push up to the […]

Over the weekend, some members of the oil alliance OPEC+ announced that they’ll be producing less oil in the second half of 2023. This shocking news came before a joint ministerial meeting that was scheduled for today and caught the markets off guard, causing prices to jump up by over 6% and creating a frenzy […]

EURUSD, “Euro vs US Dollar” On H4, EURUSD quotes are above the 200-day Moving Average, which reveals the prevalence of an uptrend. The RSO is testing the support line. The quotes are currently expected to rise above 5/8 (1.0803) and reach the resistance at 6/8 (1.0864). The scenario can be canceled by a downwards breakout […]

EURUSD on Monday looks neutral. The current quote is 1.0790. This week not only starts a new month but also opens a quarter. Many important reports are scheduled for this period, so investors will definitely need forces. Last Friday, the US presented a cardinal release of the basic personal consumption expenses index in February. This […]

EURUSD, “Euro vs US Dollar” The currency pair continues developing a consolidation range around 1.0700. At the moment, the market has extended it up to 1.0928. If the price breaks it upwards, a pathway for growth to 1.1080 will open. If the price breaks the range downwards, the structure of decline could continue to 1.0455, […]

EURUSD, “Euro vs US Dollar” The currency pair has completed a link of decline to 1.0800. Today the market is forming a consolidation range around this level. If the price escapes the range downwards, a wave of decline to 1.0740 might follow. And if the pair breaks this level as well, a structure to 1.0677 […]

Daily Market Outlook, April 03, 2023 Opec+ Oil Shock As The Cartel Cuts 1.6Mln Barrels Of Supply, Oil Surges 8% Asia equity markets start the holiday shortened trading week with modest gains as investors digest a surprise move by Opec+, with the announcement of a supply cut issued Sunday afternoon, the cartel have committed to […]

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 might be 1920.00. Upon testing the support, the price could rebound from it and continue the uptrend. However, the quotes may […]

EURUSD, “Euro vs US Dollar” EURUSD is correcting after a rebound from the resistance. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 1.0675 is expected, followed by growth to 1.1045. An additional signal confirming the decline will be a rebound from […]

TitleWTI H4 | Potential bearish reversal TypeBearish Reversal Preference:The price is currently at our pivot point of 79.072 which is just slightly above a 50% Fibonacci retracement level. If there is a reversal from here, it could push the price down to 1st support level at 76.462 Alternative scenario:However, If price were to break above […]