Category: Technial Analysis
EURUSD, “Euro vs US Dollar” EURUSD has formed an Inverted Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal pattern in an ascending wave. The growth target could be the resistance at 1.0665. However, the price might correct to 1.0570 and continue the uptrend after a pullback […]
Eurozone Inflation Falls Again The Euro has come under fresh selling pressure today on the back of yesterday’s data. Headline eurozone CPI was seen dropping to 2.9% last month, down from 4.3% prior and below the 3.1% the market was looking for. Core CPI was a little stickier at 4.2%, but still down on the […]
The British pound, paired with the US dollar, is trending lower. The current GBPUSD exchange rate stands at 1.2136. A British retail trade consortium reported yesterday that inflation in UK stores is on a declining trend. In September, the inflation rate reached 5.2%, marking the fifth consecutive month of decline. The last time such a […]
The Japanese yen, paired with the US dollar, is undergoing rapid depreciation. The current USDJPY exchange rate stands at 151.24. While our discussions about the yen have become more frequent than ever before, it is impossible to overlook the growing attention it is receiving. The JPY exchange rate devaluation has now reached a new level. […]
US Data & Fed On Watch Looking ahead today we have plenty to watch in terms of USD action. The October ADP employment number, JOLTS job openings and October ISM all come ahead of the November FOMC meeting due this evening. US economic resilience has been one of the core market themes recently, helping feed […]
TitleCADJPY H1 | Bullish bounce of 23.6% Fibo TypeBullish Bounce Preference:Price is falling towards the pivot point of 108.885 which is a pullback support that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 109.33 which is a swing-high […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. However, the RSI has reached the overbought area. As a result, in this situation, the quotes are expected to break the 5/8 (150.78) level downwards and fall to the support at 4/8 (150.00). The scenario […]
The price of BTC rose to 34,430 USD on Wednesday. Following the figures from the past week, the daily gain of 0.5% and a weekly increase of 0.8% may appear unimpressive. However, it is vital to keep in mind that a crucial moment is currently unfolding: the market is on standby, refraining from engaging in […]
Crude Drops on Shifting Middle East Focus Crude oil prices have fallen back below the key 82.59 level this week. The move lower appears to be in line with the prevailing market view that the Israel-Hamas conflict is remaining largely contained for now. From a trading perspective, the initial rally in oil prices was linked […]
Chinese Manufacturing Sector Slows, Stimulus Hopes Loom The Chinese manufacturing sector exhibited a slowdown in October, as indicated by the official Purchasing Managers’ Index (PMI) report. The headline reading came in at 49.5 points, missing the estimated 50.2 points. This decrease in activity has raised concerns, and it’s important to understand the significance of these […]