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TitleEURJPY H4 | Potential bullish breakout TypeBullish Breakout Preference:EURJPY is rising to the pivot point at 161.756, the overlap resistance, price could break above the pivot and rise towards the 1st resistance at 163.578, the swing-high resistance. Alternative scenario:Price might reverse to the 1st support at 160.231, the pullback support that aligns with 61.8% Fibonacci […]
The British pound sterling, paired with the US dollar, is in the positive again. The current GBPUSD exchange rate stands at 1.2820. The details of the recently announced UK state budget have not brought any surprises, as the market was well-prepared for them. The measures concerning budget expenditure items aim to attract voters to the […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the resistance at 1.0980. However, the quotes might correct to 1.0910 and extend the uptrend after the pullback. USDJPY, […]
USDJPY Heading Lower USDJPY is under heavy selling pressure as we head towards the US session on Monday. Traders continued to offer the pair through early European trading, extending the declines seen form the Asian open overnight. The pair has now shed almost 3% from the YTD high as a shift in expectations regarding the […]
Market sentiment continues to ride high, buoyed by persistent expectations of a Federal Reserve rate cut in the June policy meeting. This sentiment found reinforcement after the release of the US Employment report last Friday, which revealed softened wage growth coupled with a higher Unemployment Rate. The US Dollar embarked on the week with a […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a decline wave towards 1.0914. A correction link to 1.0941 is expected today. Practically, the market has set the frames for a consolidation range. With a downward escape from the range, the decline wave could extend to 1.0888. And with a breakout of this level […]