Market Analysis

EURUSD, “Euro vs US Dollar” EURUSD has formed an Engulfing reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be the resistance level at 1.0915. However, the price could drop to 1.0815 and continue its downward movement without pulling […]

TitleGBPJPY H4 | Falling from neckline? TypeBearish Reversal Preference:Price just react off our pivot point off 184.704 which is a pullback resistance level. A reverse from here, price could fall to 1st support at 183.209 which is a pullback support level Alternative scenario:However, if price breaks above the pivot, it could rise to 1st resistance […]

Bumper NVIDIA Earnings Lift Sentiment  Tech stocks are marching higher today on the back of a bumper set of earnings from NVIDIA yesterday which helped bolster sentiment further. There was plenty of anticipation in the market ahead of the release given the current hype around AI and traders were eyeing a positive set of results […]

EURUSD, “Euro vs US Dollar” EURUSD is pushing off the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0880 is expected, followed by a decline to 1.0665. An additional signal confirming the decline will be a rebound from […]

EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of decline to 1.0818. Today the market is correcting this wave of decline. A link of growth to 1.0885 is not excluded, followed by a decline to 1.0795, from where the trend might continue to 1.0750. This is a local target. GBPUSD, “Great Britain Pound […]

The major currency pair’s position is unchanged on Thursday. The current EURUSD exchange rate stands at 1.0870. US statistics are mixed. For example, while the forecast was more optimistic, the preliminary services PMI from Markit showed a decline to 51.00 points in August against 52.30 points earlier. The manufacturing PMI, in turn, dropped to 47.00 […]

The British pound sterling paired with the US dollar initially declined on Thursday morning but stabilised later. The current GBPUSD exchange rate stands at 1.2717. The morning stress could be attributed to the execution of certain trading signals. Interestingly, this is the third time in the past couple of weeks that the pound slid down […]

Bitcoin did not manage to enter the supporting zone. It jumped instead, trying to form a long white candle at the end of the trading day and shape the engulfing. It’s noteworthy that the asset’s price might potentially drop again. Should Bitcoin head North, it is likely to face resistance at the level of 29000 […]

TitleXAUUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price has is at our pivot zone between 1900-1905 which is a multi swing high resistance that aligns with 23.6% Fibo retracement. A reverse from here, price could fall to 1st support at 1891.379 which is an overlap support level Alternative scenario:However, if price breaks above the […]

EUR Under Pressure The Euro is coming under fresh selling pressure today on the back of the latest set of eurozone PMIs this morning. The manufacturing reading was seen remaining firmly in negative territory, printing 43.7. While slightly higher than the prior 42.7 reading and the 42.8 the market was looking for, the data makes […]

Crude Slumps on China Concerns Crude oil has taken a further turn lower this week. After a sustained rally over July which saw prices hitting fresh highs for the year earlier this month, crude futures have now shed around 7% from those YTD highs. Concerns over the economic outlook in China have been a major […]

USDCAD, “US Dollar vs Canadian Dollar” USDCAD is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.3515 is expected, followed by a rise to 1.3685. An additional signal confirming the rise will be […]