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EUR/USD advanced slightly on Friday following a strong bearish backlash after the pair tested the horizontal resistance level on Thursday. Despite the intensive pullback, it managed to sustain pricing above 1.08, with technical indicators signaling a lack of significant bearish momentum. The reversal was instigated by a weakening US Dollar fueled by an improved risk […]
TitleEURGBP Day | Bullish breakout TypeBullish Breakout Preference:The price could break above the pivot at 0.8551, the overlap resistance. Then it could climb higher, reaching the 1st resistance at 0.8612, the overlap resistance that aligns with the 50% Fibonacci retracement. Alternative scenario:Price might fall to the 1st support at 0.85035, the multi-swing low support. To […]
Stocks Boosted by NVIDIA Results Risk assets are climbing today as markets enjoy fresh upside impetus on the back of a bumper set of results from chipmaker NVIDIA. The company topped both earnings and revenues forecasts yesterday, which were already set well above the prior quarter’s results. On the numbers front, NVIDIA posted Q4 EPS […]
TitleGBPUSD H4 | Bearish Drop TypeBearish Reversal Preference:Price is rising toward the pivot point of 1.2655, an overlap resistance. A reverse from this level could lead the price to fall to 1st support at 1.2607, an overlap support level. Alternative scenario: If price breaks above the pivot, it could rise to 1st resistance at 1.2698. […]
The EUR/USD pair continues to ride its winning streak, now extending for the seventh consecutive day, propelled by a weakening US Dollar in defiance of market expectations of sustained higher interest rates by the Federal Reserve. Despite the Fed’s resolute stance on maintaining the status quo in its latest meeting minutes, the greenback struggles to […]
TitleEURUSD H4 | Bearish reversal TypeBearish Reversal Preference:Price is rising toward the pivot point of 1.0851, a pullback resistance level. A reverse from this level could lead the price to fall to 1st support at 1.0796, the overlap support level. Alternative scenario:If price breaks above the pivot, it could rise to 1st resistance at 1.0902, […]