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EURUSD, “Euro vs US Dollar” EURUSD has found a foothold under the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0855 is expected, followed by a decline to 1.0685. An additional signal confirming the decline […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be the 2045.00 level. Upon testing the resistance, the price could break the level and continue developing the uptrend. However, the quotes might pull back to […]
TitleXAUUSD H4 | Bearish reversal TypeBearish Reversal Preference:Gold is trading below the pivot point at 2022.1, the overlap resistance which coincides with the 50% Fibonacci retracement level. Price is likely to reverse to 1st support at 2005.86, an overlap support. Alternative scenario:The price could break out of the pivot point and rise to 1st resistance […]
The EURUSD exhibited an upward trajectory, nearing 1.0880 during the European session on Friday. This surge was attributed to the relatively optimistic remarks from ECB members. Gediminas Simkus, an ECB policymaker, exuded confidence, asserting that March wouldn’t witness a rate cut based on available data. Simkus indicated a higher likelihood of rate cuts later in […]
Red Sea Tensions Underpinning Oil Oil prices are softening a touch ahead of the US open on Friday. However, crude futures are still on course to end the week in the green and are currently trading above the December highs, keeping the focus on further upside near-term. Oil prices have seen fresh upside pressure recently […]
GDP Beats Forecasts The US Dollar is pushing higher on Friday following yet a further set of positive data yesterday. Advance Q4 GDP was seen at 3.3% vs 2% expected. While down from the prior quarter’s 4.9%, the reading was far stronger than expected and shows the US economy is holding up a lot better […]