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TitleXAUUSD H4 I Bearish Drop TypeBearish Drop Preference:Price is currently at the pivot point of 2004.6, an overlap resistance. A reverse from this level could lead the price to fall to 1st support at 1994.25, a pullback support Alternative scenario:If price breaks above the pivot, it could rise to 1st resistance at 2020. a pullback […]

Retail Sales Plunge Following a strong start to the week, driven in part by hotter-than-forecast inflation data, the US Dollar has reversed sharply into the end of the week. Yesterday’s US retail sales showed the first signs of weakness in the economy with both core and headline dropping sharply. Core retail sales came in at […]

The primary currency pair is neutral on Friday. The current EURUSD exchange rate stands at 1.0761. Yesterday’s US statistics came out mixed. The general conclusion drawn by investors implies a potential Fed interest rate cut in May due to certain weak macroeconomic parameters. US retail sales in January dropped by 0.8% m/m instead of the […]

The Australian dollar, paired with the US dollar, appears positive. The current AUDUSD exchange rate stands at 0.6518. The Aussie’s exchange rate rebounded from three-month lows and corrected fairly well as investors capitalised on the US dollar’s decline. Yesterday’s US retail sales statistics further reinforced expectations of future interest rate cuts by the Federal Reserve. […]

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UK Retail Sales Soar It’s been quite a muddled weak on the data front. In the US we had inflation coming in above forecast followed by retail sales plunging. In the UK, following a weaker-than-forecast GDP print earlier in the week, retail sales today were seen rising to their highest level in almost 3 years […]