Category: Technial Analysis
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The pullback target might be 1.3340. Next, the price might rebound from the resistance and continue the downtrend. However, the quotes could drop to 1.3250 without any […]
TitleEURUSD H4 | Potential bullish breakout TypeBullish Breakout Preference:The price could break out of the pivot at 1.10065, the multi-swing high resistance, and rise to the 1st resistance at 1.10645, the swing-high resistance Alternative scenario: Alternatively, the price could continue the downward momentum to the 1st support at 1.09813, the overlap support, which aligns with […]
TitleEURJPY H4 | Bounced off 78.6% Fibonacci level TypeBullish Bounce Preference:The EURJPY has bounced off the pivot point at 156.166, which is the 78.6% Fibonacci retracement level. The price could rise to the 1st resistance at 158.317, the swing-high resistance. Alternative scenario:The price could pull back and break the pivot point at 156.166, which is […]
TitleUSDJPY H4 | Bullish bounce TypeBullish Bounce Preference:The price has bounced off the pivot at 141.776, the 78.6% Fibonacci retracement level. It is rising to the 1st resistance at 144.541, the swing-high resistance. Alternative scenario:Price could pull back from the pivot at 141.776 and reverse to the 1st support at 140.965, the swing-low support. To […]
TitleUSDCAD H4 | Potential bearish breakout TypeBearish Breakout Preference:USDCAD could continue with the downtrend and breakout of the pivot at 1.32575, the pullback support, and fall to the 1st support level at 1.30971, the swing-low support Alternative scenario:Price could bounce at the pivot at 1.32575, and rise to the 1st resistance at 1.33716, the pullback […]
The primary currency pair is consolidating on Thursday. The current EURUSD exchange rate stands at 1.0949. The market has calmed down. Investors seem to be conserving energy before the movements of Thursday and Friday when the maximum number of crucial statistics will be released. Next, market participants will go on Christmas holidays. The US CCI […]
The British pound sterling paired with the US dollar is compelled to retreat. The current GBPUSD exchange rate stands at 1.2639. The UK’s November inflation report revealed a big surprise: the consumer price index decreased to 3.9% against the consensus forecast of 4.4%, and core inflation fell to 6.3% from the earlier 6.6%. These are […]
TitleEURJPY H4 | Potential bearish breakout TypeBearish Breakout Preference:Price could break out of the pivot at 156.481, overlap support, and fall to the 1st support level at 155.606, a pullback resistance, which also aligns with the 61.8% Fibonacci retracement. Alternative scenario:Price could potentially bounce off the overlap support at 156.481 and rise to the 1st […]
TitleGBPUSD H4 | Falling to support level TypeBearish Breakout Preference:The price could break through the pivot at 1.26297, multi-swing low support, and reverse to the 1st support at 1.2508, the pullback support level. Alternative scenario: Alternatively, the price could rise to the 1st resistance at 1.27452, the swing-high resistance from the pivot at 1.26297. To […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might remain at 2065.00. Upon testing the resistance, the price could break it and continue developing the uptrend. However, the quotes might pull back to 2010.00 before rising. […]