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TitleAUDUSD H4 | Reverse from a key resistance TypeBearish Reversal Preference:Price has just reversed from our pivot point at 0.67172 which is a pullback resistance that lines up with 61.8% Fibonacci retracement.  If price were to reverse, it could falling to 1st support at 0.66605 which is a pullback support level Alternative scenario:However, if price […]

TitleXAUUSD H4 | Falling to support TypeBullish Bounce Preference:Price is approaching our pivot point of 1968.282 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 2012.197. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 1950.399. To discuss this trading idea, […]

XAUUSD, “Gold vs US Dollar” Near the resistance, gold has formed a Shooting Star reversal pattern. The instrument is now going by the reversal signal in a descending wave. The target for the correction could be 2000.00. Upon testing the support, the price might get a chance for a rebound and further development of the […]

EURUSD, “Euro vs US Dollar” The currency pair completed a structure of decline to 1.0943. At a certain point, the market returned to 1.0000 and formed a consolidation range around this level. If the price escapes the range upwards, the correction could continue to 1.1058. With an escape downwards, the wave of decline could continue […]

Daily Market Outlook, May 3, 2023 Banking sector concerns once again dominated the headlines on Wall Street as regional banks took the brunt of the selling as the regional bank ETF closed out the day down over six percent. Asian equity investors took their lead from Wall Street’s negativity as they mostly traded in the […]

Aussie Rates At Highest Level Since 2012 The Aussie is soaring today on the back of the RBA unexpectedly announcing a fresh rate hike at its May meeting overnight. The bank hiked rates from 3.6% to 3.85%, marking their highest level since 2012, despite having made the decision at the prior meeting to keep rates […]