Latest Market News
The Australian dollar, in the pair with the US dollar, is accelerating its decline. The current AUDUSD exchange rate stands at 0.6564. Currently, the AUD is hovering near the lows of 13 December 2023. The Reserve Bank of Australia considers the current interest rate value of 4.35% per annum to be the peak. Earlier, there […]
TitlePotential Bearish Breakout TypeBearish Breakout Preference:Price is falling towards the pivot point of 1.08619 which is a pullback support level and could potentially break below this level; we could see momentum carry price down to its 1st support at 1.08148 which is a pullback support that aligns with the 78.6% Fibonacci retracement level. Alternative scenario:If […]
Stronger USD Weighing on Copper Copper prices remain under pressure into the middle of the week as a combination of a stronger US Dollar and weaker data out of China weigh on trader sentiment. With the Fed pushing back against those calling for imminent US rate cuts, USD is seeing decent demand currently. Comments from […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be 1.3545. Next, the price might rebound from this level and extend the downtrend. However, the quotes could drop to 1.3450 without […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. However, the RSI has reached the overbought area. In the end, a test of 7/8 (148.43) is expected, followed by a rebound from this level and a decline to the support at 5/8 (146.09). The […]
TitleUSDJPY M15 | Bullish bounce TypeBullish Bounce Preference:Price is falling toward the pivot point of 145.92 which is an overlap support level. A bounce from this level it could lead price to rise to 1st resistance at 146.94 that aligns with the 127.2% Fibo extension. Alternative scenario:If price breaks below the pivot, it might fall […]