Market Analysis

Last week Bitcoin bulls tried to break through and remain above the resistance level of 31000 but bears quickly seized the initiative and brought the asset back under this level. This resulted in a false breakout and the formation of a bearish engulfing. It means that the asset’s price is likely to drop and might […]

Last week, there was a significant adjustment in financial markets to the new reality, where sticky high inflation in the US may not be an issue anymore. This was primarily driven by the US inflation report, which revealed that core inflation, the most accurate indicator of consumer demand, slowed by 0.5% to 4.8% in June: […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting, forming a bullish Flag pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.3040 is expected, followed by a rise to 1.3305. An additional signal confirming the rise will be a rebound from the […]

USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Shooting Star reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The decline target could be 1.3185. Next, the price has a chance to break the support and continue the downtrend. However, the quotes could pull back […]

US CPI Drop Boots EUR EURUSD remains firm at the start of the week following a breakout move higher last week. The catalyst behind the move was a deeper drop in US inflation than had been expected. With US CPI falling to 3% from 4.1% prior, the market has undergone a significant repricing of US […]

TitleUSDCAD H4 | Potential Bearish Reversal?  TypeBearish Reversal Preference: Price is rising towards the pivot point of 1.32421 and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.30985. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 1.33053. To discuss […]

TitleUS30USD H4 | Bullish bounce off pullback support TypeBullish Bounce Preference:Price is approaching our pivot point at 34254.15, which is a pull back support, we can expect a bullish bounce off the pivot point to the 1st resistance at 34563.3. Alternative scenario:If price breaks below the pivot point, there is a possibility for it to […]

Investors swiftly unwound their long positions on the dollar this week, driven by compelling signs of disinflation in the US in June. Market expectations regarding the Federal Reserve’s (Fed) policy for the remainder of the year have also changed significantly. The baseline scenario now anticipates only one rate hike instead of two, and the market […]

Risk Rally Helping Aussie The uptick in risk appetite this week linked to the reversal in Fed expectations has helped AUD rally sharply. With the market now anticipating that the Fed will shift into neutral mode on the back of a further rate hike this month, risk assets have been given a green light with […]

EURUSD Breaks Out EURUSD bulls remain firmly in the driving seat today with the pair seen extending gains on the back of yesterday’s rally. EURUSD broke out above the 1.1126 level yesterday which has been a major resistance level over the last year. Heavy bearishness in USD has fed nicely into fresh support for EUR. […]

The major currency pair still appears very strong by Friday. The current EURUSD quote is 1.1240. The euro has been rising for seven days straight. The most traded currency pair looks seriously overbought, but the bulls still have a lot of strength. The rally was mostly triggered by the US statistics: first on the employment […]

TitleGBPJPY H4 | Bearish reversal from 38.2% Fibo TypeBearish Reversal Preference: Price is rising towards the pivot point of 181.417 and could potentially reverse from here; we could see momentum carry price down to its 1st support at 179.565 Alternative scenario: If price breaks above the pivot point, it could hit the 1st resistance at […]