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TitleEURJPY H4 | Bearish reversal off 61.8% projection? TypeBearish Reversal Preference:Price is reacting off our pivot point at 159.16, which is slightly below the 61.8% fibo projection. Price could potentially fall to the 1st support at 155.89, which is a multi-swing low support level. Alternative scenario:If price breaks above the pivot, then price could rise […]
GDP Beats Forecasts GBP has seen better demand today on the back of the latest UK GDP data released this morning. A gloomy report from the NIESR yesterday weighed on GBP sentiment ahead of the release. However, with the preliminary Q2 GDP data showing a 0.2% rise, against the 0% result expected, GBP has been […]
BRENT Brent quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI is testing the support line. In these circumstances, the quotes are expected to break the 4/8 (87.50) level and reach the resistance level at 5/8 (90.62). The scenario can be cancelled by a downward breakout of the support […]
TitleGBPUSD H4 I Bounce off Support level? TypeBullish Bounce Preference: Price has just bounced off our pivot of 1.26647 which is an overlap support level. A bounce off from here, price could push to 1st resistance at 1.27076 which is just before the 38.2% Fibo retracement. Alternative scenario:Howe if price breaks below the pivot, it […]
TitleSPX500USD H4 | Bullish bounce off 61.8% fibo? TypeBullish Bounce Preference: Price is approaching our pivot point at 4458.6, which is a pullback support level, and aligning with the 61.8% fibo retracement. If price bounces off our pivot, then price could rise to the 1st resistance at 4503, and aligning with the 61.8% fibo projection. […]
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