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TitleEURJPY H4 Bullish Bounce TypeBullish Bounce Preference:The current price is moving toward the pivot, swing low support at 161.442. Price could bounce off pivot and move to 1st resistance a pullback resistance at 162.903. Alternative scenario:The price may not rise above 161.722 which is the 61.8% fibo retracement level. To discuss this trading idea, head […]
Durable Goods Plunge The US Dollar is starting the day under pressure on Friday as traders await the latest PMI data due later today. Ahead of the Thanksgiving holiday in the US yesterday, October durable goods data was seen contracting deeper-than-forecast on Wednesday. At -5.6%, the reading marked a sharp shift from the prior month’s […]
BTC Shrugs Off Binance News Bitcoin is ending the week at highs with the futures price seeing a more than 6% rally yesterday. The move comes amidst a fresh uptick in expectations that the SEC will soon approve spot BTC ETF applications. Notably, the market has shaken off negative news flow this week around Binance. […]
The activity indices for the services and manufacturing sectors in the Eurozone, published on Thursday, pushed EURUSD back into the range of 1.09-1.0950. The released data exceeded expectations overall, setting the stage for positive expectations in the future: Concerns about stagflation in the EU, highlighted by data in September and October, appear to have subsided. […]
ECB minutes Showing Hawkish Risks Remain After a choppy week, EURUSD is hovering around the week’s opening price as of writing. The latest ECB minutes released yesterday showed that the bank retains a willingness to tighten further if necessary, echoing comments we’ve heard from ECB members recently. ECB members agreed that they should remain vigilant […]
The Japanese yen continues to maintain equilibrium against the US dollar. The current USDJPY exchange rate stands at 149.21. In October, the general inflation rate in Japan accelerated to 3.3% y/y against 3.0% y/y in September. This is the highest level since last July. Preliminary statistics published this week showed a slowdown in business activity […]