News
The United States economy continues to impress skeptics, as robust consumer spending and tight jobs market remain two key driving forces behind persistently high inflation. With this trend, it is increasingly likely that the Federal Reserve hawks will gain influence. If the ongoing debt ceiling issue is resolved favorably and the upcoming job numbers on […]
TitleBTCUSD H4 | Bullish reversal from overlap support TypeBullish Bounce Preference:Price is approaching the pivot point of 27499.07 and could potentially reverse from here, we could see momentum carry price up to its 1st resistance of 28313.45. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 27077.23. To discuss […]
The Japanese yen continues to decline against the US dollar. The current USDJPY quote is 140.60. The JPY is on a new round of devaluation. This is because the Bank of Japan is maintaining an ultra-soft monetary policy. The contrast between the interest rates is particularly noticeable in comparison with the US Fed’s – market […]
TitleXAUUSD H4 | React off resistance TypeBearish Reversal Preference:Price is rallying to our pivot point of 1957.181 which is an overlap resistance level that aligns with a 38.2% Fibonacci retracement. A reverse from here, price could fall to 1st support at 1937.553 which is swing low support level. Alternative scenario:However, if price were to break […]
Gold has approached the uptrend. However, the asset is likely to break the trend and head down due to the formed double top. Should the asset break the uptrend, it might rebound back to the broken trendline, that is, the level of 1980, and drop. So, let’s observe what will happen. American stock index S&P500 […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed an Engulfing reversal pattern. The instrument is now going by the reversal signal in a descending wave. The decline target might be 1.3555. Next, the price has a chance to break this target and continue the downtrend. However, the quotes might correct to the […]