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TitlePotential Bearish Resistance TypeBearish Reversal Preference:Price could rise towards the pivot point of 79.679 which is a pullback resistance that aligns with the 78.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 76.452 which is a multi-swing-low support level. Alternative scenario: If price […]
The Japanese yen, paired with the US dollar, continues declining. The current USDJPY exchange rate stands at 148.77. So, the yen has reached a new seven-week low. The decrease was provoked by verbal interventions by a high-ranking Japanese official. Shunichi Suzuki, the Japanese Minister of finance, has announced today that the authorities keep a close […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting after a rebound from the support level. The instrument is going inside the Ichimoku Cloud, which suggests a sideways trend. A test of the upper boundary of the Cloud at 1.2715 is expected, followed by a decline to 1.2555. The decline could be additionally supported […]
Gold Under Pressure Gold prices have come under heavy selling pressure this week with gold futures revering sharply lower from their initial Monday highs. The week started on a good footing for gold bulls with safe-haven demand driving the asset higher. However, a shift in the market’s central bank outlook across the week has seen […]
TitlePotential Bullish Bounce TypeBullish Bounce Preference:Price is trading close to the pivot point of 0.86371 which is an overlap support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.87166 which is an overlap resistance that aligns with the 78.6% Fibonacci retracement level. Alternative scenario:If […]
The EURUSD is attempting to develop the ascending impulse that emerged in the second half of the American session yesterday. However, resistance appeared above the 1.09 level, causing the price to drop below, and it is consolidating near the round level. Higher timeframes indicate a breakout of the ascending corridor, which strengthened after the release […]