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Daily Market Outlook, March 24, 2023 Yellen Flip Flop Leaves Markets Mixed Into The Weekend Asian equities retreated as investors paired risk exposure into the weekend, inline with Wall Street. Investors have been buffeted by a round of mixed signals from Treasury Secretary Yellen who remained non committal regarding deposit backstopping, hintinting that such a […]
TitleUSDJPY H4 | Potential reversal from 78.6% TypeBullish Breakout Preference:The current price is at our pivot level of 130.335, which lines up with an overlap support which is just slightly above the 78.6% Fibonacci retracement level. If there is a reversal from this level, the price could potentially move up to 1st resistance at 133.015 […]
XAUUSD, “Gold vs US Dollar” Near the resistance, gold has formed a Hanging Man reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The target of the decline might be 1970.50. Upon testing the support, the price might push off it and continue the uptrend. However, the quotes may […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a second impulse of decline to 1.0826. A new consolidation range might develop around this level today. With an escape downwards, a new impulse of decline to 1.0750 might form. Then a correction to 1.0820 and a decline to 1.0730 should follow. The target is […]
Title EURUSD H4 | Potential reversal from 78.6% TypeBearish Reversal Preference:The price is currently at our pivot point at 1.09254, along with a 78.6% Fibonacci retracement, which is an overlap resistance. If the price were to reverse, it could potentially drop to the 1st support level at1.10309 Alternative scenario:However, if price were to break above […]
Title USDCHF H4 | Potential bullish reversal TypeBullish Bounce Preference:Price has bounced off our pivot at 0.91344, which is an overlap support level along with a 76.8% Fibonacci retracement level. If price were to reverse, it could potentially rise towards the 1st resistance level at 0.92325, which is also an overlap resistance level. Alternative scenario:However, […]