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TitleGBPJPY H4 | Potential bullish bounce TypeBullish Bounce Preference:The price is on a downtrend and could fall to the pivot point at 189.989, the pullback support that aligns closely with the 50% Fibonacci retracement. Price could bounce off the pivot and rise to the 1st resistance at 191.277, the swing-high resistance. Alternative scenario:Price could breakout […]
US Data Due The US Dollar continues to trade in a very tight range ahead of today’s US ISM services PMI. Price action in DXY has stagnated over the last week in response to a slew of weaker-than-forecast data which seems at odds with the Fed’s message over keeping rates in restrictive territory. A sharp […]
TitleGBPUSD H1 | Bearish reversal TypeBearish Drop Preference:Price is currently at the pivot point of 1.273 a swing-high resistance. A reverse from this level could lead the price to fall to 1st support at 1.2643, a pullback support level. Alternative scenario:If the price breaks above the pivot, it could rise to 1st resistance at 1.2672, […]
TitlePotential Bullish Bounce TypeBullish Bounce Preference:Price could fall towards the pivot point of 84.045 which is a pullback support that aligns with the 23.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price up to its 1st resistance at 84.955 which is a pullback resistance level. Alternative scenario:If price breaks […]
EURUSD, “Euro vs US Dollar” EURUSD is rising after a rebound from the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1.0820 is expected, followed by a rise to 1.0915. An additional signal confirming the […]
EURUSD, “Euro vs US Dollar” EURUSD quotes have broken the 200-day Moving Average on H4 and are currently above it, indicating the development of an uptrend. The RSI has broken the resistance line. As a result, in this situation, the 4/8 (1.0864) level is expected to break, with the price rising to the resistance at […]