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American stock index S&P 500 has closely approached the broken uptrend; therefore, it might potentially undergo correction soon. The asset’s price is likely to drop and target the level of 4195. So, let’s observe what might happen. Bitcoin has been moving along the supporting level of 25200 for many days in a row, trying to […]
The two-week consolidation period of gold price around $1950 has ended with a breakdown below the lower bound of the main ascending channel: The risk is increasing that sellers will temporarily seize the initiative, as buyers have lost their main stronghold in the form of the ascending corridor that started back in October 2022. From […]
The Japanese yen paired with the US dollar remains in a devaluation zone. The current USDJPY quote is 141.20. The difference in interest rates between the Bank of Japan and the US Federal Reserve System, although not increasing as rapidly as before, still leaves the JPY vulnerable. Most economists surveyed by Reuters believe that the […]
TitleCHFJPY H4 | Bullish reversal from overlap support TypeBullish Bounce Preference:Price could approach the pivot point of 155.484 and potentially reverse from here; we could see momentum carry price up to its 1st resistance of 156.276. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 155.083. To discuss this […]
TitleGBPNZD H4 | Bullish reversal from 38.2% Fibo TypeBullish Bounce Preference:Price is falling towards the pivot point of 2.03679 and could potentially reverse from here; we could see momentum carry price up to its 1st resistance of 2.05217. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 2.02258. To […]
USDJPY, “US Dollar vs Japanese Yen” On H4, the quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend. However, the RSI is nearing the overbought area. As a result, in these circumstances a test of 7/8 (142.18) is expected, followed by a rebound from this level and a decline to the […]