News
The price of Bitcoin has closely approached the key resistance level of 49000. The asset’s price might either rebound from the resistance or break it through. Hence, it would be interesting to follow the candlestick formations next to this level to forecast the upcoming price movements. The false breakouts are also possible so let’s keep […]
EURUSD, “Euro vs US Dollar” EURUSD quotes have rebounded from the 0/8 (1.0742) level on H4 and started growing. The RSI has risen above the resistance line. In this situation, the quotes are expected to rise above 1/8 (1.0803), subsequently reaching the resistance at 2/8 (1.0864). The scenario could be cancelled by a downward breakout […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1.3545. Next, the price might have a chance for breaking the resistance and extending the uptrend. However, the quotes could correct to […]
EUR/USD displayed resilience last week, closing positively for the fourth consecutive day, though ultimately ending the week virtually unchanged. Despite an initial surge to the 1.0800 mark, marking a one-week high, the pair succumbed to downward pressure during the European session, largely influenced by deficit of medium-term buyers. Uncertainty around forthcoming US CPI release, with […]
Silver/Gold Breaking Correlation Silver prices are today breaking from their typical correlation with gold. While the yellow metal has come under pressure on Monday, silver prices are trading higher. The move has been attributed to position covering ahead of upcoming major data with moves being exacerbated in low volume markets due to China being offline […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rebounding from the lower boundary of the Cloud. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 1.2640 is expected, followed by a decline to 1.2475. An additional signal confirming the decline could […]