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Copper Breaking Out Copper prices have broken out to their highest levels since August 2023 today. The move comes on the back of news that top Chinese copper smelters will slash production across loss-making sites in a bid to shore up the market against the tightness in raw materials. A surge in global smelting capacity […]

TitlePotential Bearish Reversal TypeBearish Reversal Preference:Price could rise towards the pivot point of 0.66443 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 0.65834 which is an overlap support that sits above with […]

The Australian dollar, paired with the US dollar, is observing the situation and is hardly moving on Wednesday. The current exchange rate for AUDUSD stands at 0.6613. Stronger-than-expected US price statistics exerted pressure on all currencies except the US dollar. These data worsened the prospect of the US Federal Reserve initiating a phase of monetary […]

The primary currency pair remains under pressure on Wednesday. The current exchange rate for EURUSD stands at 1.0925. Following the release of a stream of US price statistics, the market began favouring the dollar again. Investors were prompted to revise their expectations regarding this year’s interest rate prospects as inflation proved stronger than anticipated. The […]

TitleEURUSD H1 | Bearish reversal? TypeBearish Reversal Preference:Price rises toward the pivot point of 1.0931, an overlap resistance close to 78.6% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 1.0899, a pullback support level Alternative scenario:  If the price breaks above the pivot, it could rise […]

TitleGBPUSD H1 | Falling to support level? TypeBearish Drop Preference: Price has just reacted off the  pivot point of 1.2789,  an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at  1.2729, an overlap support level. Alternative scenario: If the price breaks above the pivot, it […]