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EURUSD, “Euro vs US Dollar” EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be the support level of 1.0800. However, the price might rise to 1.0910 and continue the uptrend without testing […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has found a foothold above the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud suggesting a downtrend. A test of the Kijun-Sen line is expected at 1.2355, followed by a rise to 1.2580. An additional signal confirming the growth could be a rebound from the […]
SEC Delays… Again Bitcoin prices surged higher once again yesterday with BTC futures rallying almost 10% off the week’s lows yesterday. The move came amidst news that the SEC has deferred ruling on the Hashdex Bitcoin ETF until 2024, having made a similar ruling on other crypto ETF applications. Judging by the market reaction it […]
USD Selling Pauses The US Dollar failed to continue the breakdown we saw on Tuesday as better-than-forecast retail sales data yesterday helped stem the selling. While still very weak at 0.1%, down from 0.8% prior, given that the data was marginally better than the -0.1% forecast, bulls were able to hang on. Empire state manufacturing […]
The Australian dollar rose steadily against the US dollar by Wednesday. The current AUDUSD exchange rate stands at 0.6500. The surge was mainly fuelled by the decline of the US dollar in the global currency market after the release of the October inflation report. This morning, China released a block of economic statistics that bolstered […]
TitleEURUSD H4 | Bouncing off support? TypeBullish Bounce Preference:The price is falling toward our pivot point of 1.07545, which serves as a pullback support level that aligns with the 38.2% Fibo retracement. A bounce from this point could lead the price to rise to the 1st resistance at 1.08727, an overlap resistance. Alternative scenario:However, if […]