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USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Shooting Star reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The decline target could be 1.3185. Next, the price has a chance to break the support and continue the downtrend. However, the quotes could pull back […]
US CPI Drop Boots EUR EURUSD remains firm at the start of the week following a breakout move higher last week. The catalyst behind the move was a deeper drop in US inflation than had been expected. With US CPI falling to 3% from 4.1% prior, the market has undergone a significant repricing of US […]
TitleUSDCAD H4 | Potential Bearish Reversal? TypeBearish Reversal Preference: Price is rising towards the pivot point of 1.32421 and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.30985. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 1.33053. To discuss […]
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TitleUS30USD H4 | Bullish bounce off pullback support TypeBullish Bounce Preference:Price is approaching our pivot point at 34254.15, which is a pull back support, we can expect a bullish bounce off the pivot point to the 1st resistance at 34563.3. Alternative scenario:If price breaks below the pivot point, there is a possibility for it to […]
Investors swiftly unwound their long positions on the dollar this week, driven by compelling signs of disinflation in the US in June. Market expectations regarding the Federal Reserve’s (Fed) policy for the remainder of the year have also changed significantly. The baseline scenario now anticipates only one rate hike instead of two, and the market […]