Category: Technial Analysis
The primary currency pair is neutral on Friday. The current EURUSD exchange rate stands at 1.0761. Yesterday’s US statistics came out mixed. The general conclusion drawn by investors implies a potential Fed interest rate cut in May due to certain weak macroeconomic parameters. US retail sales in January dropped by 0.8% m/m instead of the […]
The Australian dollar, paired with the US dollar, appears positive. The current AUDUSD exchange rate stands at 0.6518. The Aussie’s exchange rate rebounded from three-month lows and corrected fairly well as investors capitalised on the US dollar’s decline. Yesterday’s US retail sales statistics further reinforced expectations of future interest rate cuts by the Federal Reserve. […]
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UK Retail Sales Soar It’s been quite a muddled weak on the data front. In the US we had inflation coming in above forecast followed by retail sales plunging. In the UK, following a weaker-than-forecast GDP print earlier in the week, retail sales today were seen rising to their highest level in almost 3 years […]
TitleUSDCAD H1 I Bearish reversal TypeBearish Reversal Preference:Price is rising toward the pivot point at 1.3538, a pullback resistance that aligns with the 61.8% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 1.3462, an overlap support. Alternative scenario:If price breaks above the pivot, it could rise […]
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 decline target might be the support at 1.0710. However, the price could correct to 1.0800 and extend the downtrend after the test […]
EURUSD, “Euro vs US Dollar” EURUSD is correcting after a rebound from the support. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0780 is expected, followed by a decline to 1.0625. An additional signal confirming the decline could be a […]
GDP Falls Again The British Pound is trading lower across the early European session on Thursday. The selling comes in response to the attest growth data out of the UK with preliminary Q4 estimates reflecting a -0.3% dip in GDP over Q4 2023. On the back of the unrevised -0.1% reading over the prior month, […]
TitlePotential Bullish Reversal TypeBullish Bounce Preference:Price is falling towards the pivot point of 81.212 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 83.272 which is a pullback resistance level. Alternative scenario:If […]
ETH on The Up Alongside the sizeable rally we’re seeing in Bitcoin currently, Ethereum is also making its way higher. The second largest-traded crypto coin has broken out this week, now trading back at levels last seen in early 2022, up around 35% from the YTD lows. The improved crypto sentiment on the back of […]