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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. […]

Copper Stalling on Weak China Data On the back of the strong rally we’ve seen recently, copper prices are stalling on Thursday as traders digest the latest data weakness out of China. The October Manufacturing PMI was seen falling further into contractionary territory at 49.4 down from 49.5 last and below the 49.8 the market […]

EURUSD, “Euro vs US Dollar” EURUSD is forming a corrective structure to 1.0943. After the correction is over, a new growth structure to 1.1030 might develop. Next, a decline wave to 1.0850 could start. This is the first target. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has completed a decline link to 1.2664 and […]