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USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal pattern in a descending wave. The decline target might be the 1.3480 mark. Next, the price could break the level and extend the downtrend. However, the quotes might correct to 1.3590 […]

TitleDAX H4 | Bearish breakout TypeBearish Breakout Preference:Price is on a downtrend to the pivot point at 16837.37, the pullback support. Price could break the pivot and fall to 1st support at 16646.16, an overlap resistance that aligns closely with 61.8% Fibonacci Projection level. Alternative scenario: The price might bounce off the pivot point and […]

TitleGBPUSD H1 I Bearish reversal TypeBearish Reversal Preference:Price is rising toward the pivot point of 1.2746 which is a pullback resistance that aligns with 61.8% fibo retracement. A reverse from this point could lead the price to fall to 1st support at 1.2703, an overlap support Alternative scenario:If price breaks above the pivot, it could […]

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TitleRising into Overlap Resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 2.08436 which is an overlap resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 2.07203 which is a pullback support that aligns with […]

The Japanese yen, paired with the US dollar, is currently on hold, awaiting clear signals. The current USDJPY exchange rate stands at 147.83. The yen found some support as investors carefully analysed the Bank of Japan’s meeting results. Kazuo Ueda, the governor of the regulator, had a somewhat hawkish stance on interest rates, or the […]