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TitleUSDJPY, H4 | Key levels to watch out for TypeNeutral Preference:We’re seeing price rise nicely within our ascending wedge with the first intermediate resistance at 136.77 which is a 38.2% Fibonacci retracement. If it breaks this level, then the 1st resistance is at 137.74 which is a strong overlap resistance. In terms of support, we […]

XAUUSD, “Gold vs US Dollar” At the support level, gold has formed a Hammer reversal pattern. The instrument is now going by the signal in an ascending wave. The goal of the correction might be 1855.00. Upon testing the resistance level, the price may push off it and continue the downtrend. However, the quotes might […]

EURUSD grew quite a bit overnight. The current quote is 1.0650. The USD got a hard blow from the production statistics from February. The ISM PMI grew from 47.4 points to 47.7 points instead of 48.0 points. The index remains under the psychologically important level of 50.0 points marking the reversal from growth to falling. […]

Bailey Talks Down Pound GBP has come back under selling pressure into the end of the week following comments from BOE governor Bailey who yesterday suggested that UK rates might have peaked. During a PR event yesterday, Bailey cautioned that further rate hikes were not inevitable and that any further adjustments will be data dependent. […]

EUR Falls on Inflation Data EUR is trading lower today on the back of the latest flash eurozone inflation data released this morning. The first look at CPI for last month showed the headline reading cooling slightly to 8.5% from 8.6% prior year-on-year. However, this was a touch above the 8.3% the market was looking […]

EURUSD, “Euro vs US Dollar” EURUSD has pushed off the upper border of the descending channel. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper border of the Cloud at 1.0655 is expected, followed by falling to 1.0435. A signal confirming the decline will be a bounce […]