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OPEC in Focus Crude oil futures are hovering around the $78 mark today ahead of the OPEC+ meetings taking place later. The market has seen better trading over the last few days, taking advantage of a weaker US Dollar to recover some ground to the topside. Expectations of an extension (and possibly a deepening) of […]

The Dollar Index rose at the beginning of the European session, gaining about 0.3% in a short period, attempting to consolidate above the 103 level. The primary surge was driven by a decline in the Euro – EURUSD depreciated by approximately 0.5%. The pair is approaching the 1.09 level, having tested the 1.10 level yesterday […]

TitleGBP/USD day I Bearish reversal? TypeBearish Reversal Preference: The price is rising toward our pivot point of 1.2786, which serves as a multi-swing resistance level. A reverse from this point could lead the price to fall to the 1st support at 1.2637, a pullback support. Alternative scenario: However, if the price breaks above the pivot, […]

The main currency pair appears neutral on Thursday. The current EURUSD quote stands at 1.0970. Since yesterday, the currency market has successfully corrected its excessive overbought conditions. The US statistics turned out interesting. The GDP for Q3 in the second reading increased by 5.2% q/q, surpassing the forecasted 4.9% rise and the previous 2.1% increase. […]

USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes and the RSI on H4 are in their oversold areas. A rebound from -1/8 (0.8728) is expected followed by a price rise to the resistance at 1/8 (0.8850). This scenario could be cancelled by a downward breakout of -1/8 (0.8728). In this case, the pair might drop […]

Title:EURGBP H4 | Bullish reversal off 161.8% fibo? TypeBullish Bounce Preference:Price could bounce off our pivot point at 0.8639, which is a multi-swing low support level, and at the 161.8% fibo extension. If price bounce off from our pivot point, price could rise towards the 1st resistance at 0.8660, which is an overlap resistance level. […]