Market Analysis

The BTC on Friday is balancing near 30,016 USD. The leading cryptocurrency has been correcting since yesterday after two days of impressive growth. The BTC gained more than 17% over two trading sessions. The crypto sector demonstrated a positive reaction to the compound of good news. After the market heard the news about the application […]

TitleNZDUSD H4 | Potential Bounce off support TypeBullish Bounce Preference: Price is falling to our pivot point of 0.61144 which is a pullback support level that aligns with a 50% and 61.8% Fibo retracement. A reverse from here, price could rally towards 1st resistance at 0.62072 which is a multi-swing high resistance. Alternative scenario: However, […]

EUR Slides on Weak PMIs EURUSD has come under heavy selling pressure today in response to the latest wave of eurozone PMI data released this morning. Weakness across French and German readings, as well as the overall eurozone readings, has put fresh focus on fears for the health of the eurozone economy, particularly with the […]

The Japanese yen has returned to the course of devaluation against the US dollar. The current USDJPY quote is 143.01. The yen reacts to macroeconomic reports selectively, but today is the case. The latest statistics showed that consumer prices in Japan increased faster than expected in May. At the same time, a tendency towards inflation […]

Brent Brent quotes are under the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI has broken the support line. In this situation, a breakout of 3/8 (73.44) is expected, followed by a decline to the support at 2/8 (71.88). The scenario can be cancelled by rising above the resistance at […]

BOE Hikes Again The BOE took the bull by the horns yesterday and hiked rates by a further .5%, taking the headline UK interest rate up to 5%, its highest level in 13 years. The move comes on the back of the latest UK CPI data earlier this week which showed core inflation moved higher […]

Powell’s testimony in Congress had a negative impact on the dollar, causing the US currency index to bounce off the upper boundary of the bearish channel, dropping by 102 points and forming a double bottom reversal pattern: Yesterday, the head of the Federal Reserve expressed uncertainty about the need for future tightening and used a […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting in a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the support area at 1.2675 is expected, followed by a rise to 1.2945. An additional signal confirming the rise will be a rebound from the lower […]

EURUSD, “Euro vs US Dollar” The currency pair has broken the consolidation range upwards and completed a structure of growth to the 1.1010 level. Today the market is forming a pattern of a declining wave to 1.0925. After this level is reached, a link of growth to 1.0955 (test from below) is possible, followed by […]

BTC Driving ETH Higher The surge higher in Bitcoin this week has seen the broader crypto market recovering also. Bitcoin futures are now up around 25% off last week’s lows. The move comes in response to news that Blackrock Capital has applied to the SEC to launch a new Bitcoin ETF. Such a large name […]

TitleNZDUSD H4 | React off 78.6 % TypeBearish Reversal Preference:Price is moving up towards our pivot point of 0.62347 which is an overlap resistance level that aligns with 78.6% Fibo retracement. A reverse from here, price could fall to 1st support level at 0.61725 which is pullback support level. Alternative scenario:However, if it breaks above […]

  Hawkish Risks The big focus in FX markets today will be the June Bank of England meeting. The BOE had been tipped to hike rates by a further .25%, marking the 13th consecutive rate hike and the fastest increase in monetary tightening in thirty years. However, on the back of a set of hot […]