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EURUSD, “Euro vs US Dollar” On H4, near the support level, the pair has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal pattern in an ascending wave. The correction target might be 1.0900. However, the price could go on falling to 1.0815 and continue the downtrend without testing the resistance […]
TitleEURUSD H4 | React off 1st resistance TypeBearish Reversal Preference:Price is approaching our pivot point at 1.0908 which is a pullback resistance level that aligns with a 23.6% Fibonacci retracement. A reverse from here, price could fall to 1st support at 1.08467 Alternative scenario:However, if price breaks above the pivot, it could rally to 1st […]
TitleGBPUSD H4 | A reverse from 38.2% Fibo TypeBearish Reversal Price is nearing our pivot point at 1.25356 which is a multi swing high resistance that aligns with a 38.2% Fibonacci retracement. A reverse from here, price could fall to 1st support at 1.24482 which is a multi swing low support level. Alternative scenario:However, if […]
The second estimate of Eurozone GDP for the first quarter came in line with expectations, showing a modest quarterly growth of just 0.1% and a YoY output gain of 1.3%. However, the ZEW Economic Sentiment Index for the Eurozone and Germany fell more than anticipated, indicating worsened sentiment. With EURUSD nearing 1.09, buyers remain cautious […]
TitleUSDCHF H4 | Bullish bounce from 61.8% Fibo TypeBullish Bounce Preference:Price is approaching the pivot point of 0.8913 and could potentially reverse from here, we could see momentum carry price up to its 1st resistance of 0.89857. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 0.88677. To discuss […]
The Australian dollar is declining against the US dollar. The current AUDUSD quote is 0.6667. According to the minutes of the last meeting of the Reserve Bank of Australia, at the meeting, the regulator considered the option of raising the interest rate by 25 basis points or making a pause. In the end, the interest […]