News
TitlePotential Bearish Reversal TypeBearish Reversal Preference:Price is rising towards the pivot point of 17,041.06 which is a pullback resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 16,822.55 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level. Alternative scenario: […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be the 1.3520 level. Next, the price might rebound from the support and extend the uptrend. However, the quotes could rise to […]
The Australian dollar, paired with the US dollar, has halted its decline. The current AUDUSD exchange rate stands at 0.6486. This morning, Australia released employment market statistics, which turned out to be relatively weak. Such data confirms fairly soft expectations for the country’s monetary policy outlook. The unemployment rate rose to 4.1% in January. Employment […]
Core CPI Rises The US Dollar is pushing higher midweek on the back of yesterday’s US inflation figures. Annualised headline CPI was seen at 3.1% last month, lower than the 3.4% seen a month prior but above the 2.9% the market was looking for. Month on month, headline CPI was unchanged at 0.3%. However, core […]
TitlePotential Pullback before Resuming the Uptrend TypeBullish Bounce Preference:Price could fall towards the pivot point of 1.35412 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 1.36207 which is a pullback resistance that aligns […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 2010.00. Upon testing the resistance, the price might rebound from it and continue developing the downtrend. However, the quotes could drop to 1980.50 before correcting. […]