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TitlePotential Pullback before Resuming the Uptrend TypeBullish Bounce Preference:Price could fall towards the pivot point of 1.35412 which is a pullback support that aligns with the 23.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.36207 which is a pullback resistance that aligns […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 2010.00. Upon testing the resistance, the price might rebound from it and continue developing the downtrend. However, the quotes could drop to 1980.50 before correcting. […]
USDJPY, “US Dollar vs Japanese Yen” The USDJPY pair and the RSI on H4 are in their respective overbought areas. In this situation, a test of 8/8 (150.00) is expected, followed by a breakout of the level and a price decline to 7/8 (148.43). The scenario could be cancelled by rising above +1/8 (151.56). In […]
Gold Under Pressure The rally in the US Dollar on the back of yesterday’s inflation report has caused widespread impact across markets. Gold prices have come under heavy selling pressure with futures seen breaking down to fresh lows for the year. Given the pushback we’ve heard from the Fed, this latest hot inflation reading is […]
CPI Holds Steady The FTSE is seeing strong demand today after the latest UK inflation figures released this morning were cheered by investors. Annualised headline CPI was seen holding steady at 4% last month, a touch softer than the expected 4.1%. Similarly, core inflation was seen holding steady at 5.1%, despite expectations for a lift […]
The primary currency pair remains under pressure on Wednesday. The current EURUSD exchange rate stands at 1.0713. Data on the Consumer Price Index in the US for January, released yesterday, noticeably unsettled investors. Inflation decreased to 3.1% on an annual basis compared to 3.4%. While this is positive, the forecast had expected a decrease of […]