Category: Technial Analysis
The Japanese yen has become much stronger against the US dollar. The current USDJPY exchange rate stands at 146.83. The yen’s rapid and assertive performance took many by surprise. The fundamental outlook for the Japanese national currency appears mixed without apparent positive factors. Last weekend, the Bank of Japan Policy Board provided a clear commentary: […]
TitleGBPJPY H4 | Breaking pivot point? TypeBearish breakout Preference:The price is currently on our pivot point at 187.925, an overlap support, and it could break through and fall to 1st support level at 184.607, a multi-swing-low support. Alternative scenario:The price could bounce off the pivot point at 185.925 and rise to 1st resistance level at […]
Bitcoin Breaks Out Crypto bulls were rejoicing through early European trading on Monday as Bitcoin surged back above the $40k mark for the first time since May 2022. Bitcoin futures are trading above the $42k mark, as of writing, marking their highest levels since April last year as optimism continues to grow around anticipated Bitcoin […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rebounding from the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.2665 is expected, followed by a rise to 1.2915. An additional signal confirming the rise will […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be the resistance at 1.0970. However, the price could correct to 1.0825 and continue the uptrend after testing the support. […]
PMI data released on Friday showed that manufacturing activity across Asian countries experienced uneven changes in November. While Japan and Korea saw a slowdown, unexpectedly, private enterprises in China reported improved sentiments compared to the previous month. The relevant index from Caixin Agency rose from 49.5 to 50.7 in November, surpassing expectations that it would […]
Title:GER40 H4 | Bearish Reversal off Pivot? TypeBearish Drop Preference:The current price has touched the pivot line at 16299.70, a swing high resistance. Price could react bearishly off pivot and fall to 1st support level at 16045.42, a pullback support. Alternative scenario:Price could break through the pivot at 16299.70, a swing high resistance, moving towards […]
Gold Near Highs Gold prices are starting the final month of the year in the green today. The market enjoyed a solid rally across November and is now holding just below all-time highs ahead of today’s keenly awaited US manufacturing PMI. On the back of the recent drop off in US inflation and labour market […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 1.3575. Next, the price might have a chance for a rebound from the resistance level and further development of the downtrend. […]
EUR Slides on CPI Drop A slew of weaker-than-forecast eurozone inflation data this week has put an end to the rally for now. With Spanish, German and overall eurozone CPI seen falling again last month, the market has now moved to fully price in an ECB rate cut by April next year with odds […]