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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 […]
TitlePotential Bearish Reversal off 50% Fibo Resistance TypeBearish Reversal Preference:Price is trading close to the pivot point of 1.26907 which is an overlap resistance that aligns with the 50.0% Fibonacci retarcement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.26412 which is a pullback […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a decline wave to 1.0845. Today the market is forming a correction to the 1.0910 level (a test from below). Once the correction is over, a new decline wave to the 1.0838 level might begin. Next, a consolidation range might form; with a downward escape from the […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes have broken the 200-day Moving Average and now rest above it, revealing the probability of an uptrend development. However, the RSI has reached the overbought area. As a result, a test of 6/8 (0.8667) is expected, followed by a rebound from this level and a decline to […]
The price of the currency pair EUR/USD rebounded from the level of 1.1100 and dropped. The asset might gain the required support in the zone formed between levels 1.0640 and 1.0670, rebound, and rise. So, let’s observe what might happen next. Brent oil broke the local downtrend. Now, the asset is forming a very narrow […]