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TitleXRP H4 | Bounce from 38.2% Fibo TypeBullish Bounce Preference:Price could approach the pivot point of 0.45 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 0.47. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 0.44. To discuss this trading […]
TitleUSDJPY H4 | React off resistance TypeBearish Reversal Preference: Price is approaching our pivot point of 138.714 which is a multi-swing high. A reverse from here, price could fall to 1st support at 137.66 which is an overlap support level. Alternative scenario:However, if price breaks above the pivot, it could drop to 1st resistance at […]
XAUUSD, “Gold vs US Dollar” Near the support level, gold has formed an Inverted Hammer reversal pattern. Currently, the instrument could go by the reversal pattern in an ascending wave. The growth target might be 1975.50. Upon testing the resistance, the price could rebound from it and continue with the downtrend. However, the quotes could […]
AUDUSD, “Australian Dollar vs US Dollar” On H4, the quotes are under the 200-day Moving Average, representing the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downward breakout of 1/8 (0.6622) is expected, followed by a decline to the support level of 0/8 (0.6591). The scenario can […]
Daily Market Outlook, May 23 , 2023 Asian equities traded with uncertainty as investors assessed the latest updates on the debt limit negotiations. While the meeting between US President Biden and House Speaker McCarthy was described as productive, there were no significant breakthroughs. The Nikkei 225 initially climbed to its highest level since August 1990 […]
TitleBTCUSD H4 : Falling to 1st support TypeBearish Reversal Preference:Price has just reacted off our pivot point of 27485.03 which is an overlap resistance. A reverse from here, price could fall to 1st support at 26650.84 which is a multi- swing low support level. Alternative scenario:However, if price breaks above the pivot, it could rally […]