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TitleCADJPY H4 | Bearish reversal TypeBearish Reversal Preference:The price is rising toward the pivot point of 109.54, a pullback resistance that aligns with the 38.2% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 108.67, a multi-swing low support level Alternative scenario:If the price breaks above the […]
The EUR/USD pair made modest gains during the early European session, buoyed by unrevised German inflation data that fell in line with expectations, registering a 2.5% year-on-year increase. This minor uptick comes in anticipation of the upcoming US CPI inflation data, a pivotal event that could potentially sway market sentiments. The chart below indicates that […]
FTSE Breaking Out The FTSE is breaking higher today on the back of the latest UK economic data released this morning. The ONS reported that in the three months to January, UK wage growth slowed to 5.6% from 5.8% prior, this marks the lowest level of earnings increases since October 2022. Additionally, the unemployment rate […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are above the 200-day Moving Average on H4, which indicates a prevailing uptrend. The RSI has rebounded from the support level. In this situation, the price is expected to surpass the 5/8 (0.6622) level, subsequently reaching the resistance at 8/8 (0.6713). The scenario could be cancelled by […]
The primary currency pair is poised for growth on Tuesday. The current EURUSD exchange rate stands at 1.0934. Investors are focused ahead of this week’s release of the most crucial statistics. The first of these – the US inflation reports for February – are scheduled for release today. The Consumer Price Index (CPI) may have […]
Inflation Expectations All eyes are on the US Dollar today as traders brace for the latest US inflation data due this afternoon. Last time around, inflation was seen falling back to 3.1% from 3.4% prior, a little above the 2.9% the market was looking for. Today the market is looking for CPI to have remained […]