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TitleUSDJPY H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price is nearing our pivot point of 142.956 that aligns with 78.6% Fibo retracement and supply zone. A reverse from here, price could fall to 1st support at 141.941 which is a pullback support level. Alternative scenario:However, if price break above the pivot, it could push to […]
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TitleGBPUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price is moving toward our pivot point of 1.2884 that aligns with 50% FIbo retracement. A reverse from here, price could fall to 1st support level at 1.2776 Alternative scenario:However, if price breaks above the pivot, it could push to 1st resistance at 1.2968 which is a […]
Factory Activity Drops Again The latest data out of China overnight has offered little reassurance over the health of the world’s second largest economy. The manufacturing PMI was seen staying in negative territory for a fourth straight month last month. While slightly above forecasts at 49.3 vs 48.9 expected, the data is further evidence of […]
RBA On Watch The RBA will meet overnight tonight for its August rate decision. Expectations have been heavily divided in the build up to this meeting though, as it stands, the market is currently forecasting a further .25% hike, which would take Aussie rates up to 4.35% from 4.1% currently. On the back of two […]
On Monday, the week kicked off with the report on China’s industrial sector activity. The PMI index surprised on the upside, rising to 49.3 and beating consensus estimate of 49.2 points. The slowdown in activity has been gradually easing for the second consecutive month, alleviating concerns about China’s economy and supporting the search for yield […]