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TitleXAUUSD H4 | Potential bearish reversal TypeBearish Reversal Preference:Price is approaching out pivot at 2031.604 which lines up with a 50% Fibonacci retracement. A reverse from here, price could fall to 1st support at 2004.572. Alternative scenario:However, if price breaks above the pivot, it could rally to 1st resistance at 2059.922 which is a swing […]
TitleUSDCHF H4 | Reversal from swing-low TypeBullish Bounce Preference:Price could approach our pivot point of 0.88208 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 0.89229. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 0.87708. To discuss this trading idea, […]
TitleUSDCAD H4 | Falling to support TypeBullish Bounce Preference:Price is approaching our pivot point of 1.33015 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 1.34204. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 1.32582. To discuss this trading idea, […]
TitleEURUSD H4 | React off 61.8% Fibo TypeBearish Reversal Preference:Price is currently at our pivot point at 1.10538 which lines up with a 78.6% Fibonacci retracement. A reverse from here price could fall to 1st support at 1.10074 which is overlap support Alternative scenario:However, if price breaks above the pivot, it could rally to 1st […]
Banking Sector Fears Intensify Fears over the health of the wider US banking sector have swung back into the limelight this week. Over the weekend, JP Morgan agreed to buy First Republic Bank which became the second largest bank in US history to fail. This comes only several weeks after SVB collapsed and Signature Bank […]
Silver touched the level of 26.25 and formed a bearish engulfing at the end of the past trading week. The asset’s price might potentially undergo correction and retest the level of 24.75. So, let’s observe when it is likely to happen. The Canadian dollar is approaching the price cluster formed by the broken downtrend and […]