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Daily Market Outlook, March 28, 2023 Banking Stress Recedes, Relief Rally In Bank Shares Supports Sentiment Following a mildly positive finish on Wall Street Asian equities have also posted modest gains overnight as risk sentiment remains buoyed by a belief that the banking stress of the past few weeks is starting to recede. The Fed […]

AUDUSD, “Australian Dollar vs US Dollar” On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI is nearing the resistance line. In these circumstances, we expect the quotes to test 2/8 (0.6713), make a rebound off it, and fall to the support level of 0/8 (0.6591). […]

On Tuesday, the Australian dollar against the US dollar returned to growth. The current AUDUSD quote is 0.6690. Retail sales in Australia in February grew by 0.2% m/m as expected after growing previously by 1.8%. The index look neutral after sharp fluctuations at the end of last year and the beginning of 2023, while the […]

EURUSD, “Euro vs US Dollar” The currency pair has corrected to 1.0818. Today the market is forming a consolidation range under this level. A decline to 1.0690 is expected. And with a breakaway of this level downwards as well a pathway to a wave to 1.0550 should open. The target is local. GBPUSD, “Great Britain […]

EURUSD, “Euro vs US Dollar” On H4, near the support level, EURUSD has formed a Harami reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The target of the growth might be 1.0920. However, the price may still pull back to 1.0775 and continue the uptrend after correcting to […]

TitleGBPUSD, H4 | Potential bearish reversal TypeBearish Reversal Preference:Price could approach our pivot level of 1.23437 and reverse from here, we could see momentum move price down to its 1st support of 1.22086 Alternative scenario:If price breaks above the pivot level, it could hit the 1st resistance of 1.23987. To discuss this trading idea, head […]