Category: Technial Analysis
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1.3670. Next, the price could break the resistance and continue the uptrend. However, a correction to 1.3570 before the rise is not […]
TitleEURJPY H4 | Bearish reversal off 61.8% fibo? TypeBearish Reversal Preference: After forming a double bottom, price is rising towards our pivot point at 158.9, which is a potential pullback resistance level, aligning with the 61.8% fibo retracement and 61.8% fibo projection. We can expect a bearish reversal from the pivot point, for price to […]
TitleXAUUSD H1 | Falling from Fibo 61.8? TypeBearish Reversal Preference:Price has just reacted off our pivot point 1946.06, which serves as an overlap resistance level that aligns with 61.8% Fibo retracement. A reversal from this point could lead the price to drop to the 1st support at 1938.121, an overlap support level. Alternative scenario:However, if […]
Weak US Jobs Data Weighs on Fed Tightening Expectations Despite weakness seen in key US labour market indicators last week, USDJPY is starting the week in the green. On Friday, the latest jobs report was a mixed bag. The headline NFP reading was seen coming in above forecasts at 187k vs 169k expected, though the […]
Lagarde on Watch EURUSD continues to hold at a key support level ahead of an upcoming speech by ECB chief Lagarde later today. Traders will be keen to see if Lagarde gives any clues as to how the ECB is likely to act at the next rate setting meeting due later this month. The market’s […]
The BTC exchange rate is down to 25,997 USD on Monday. Over the week, the flagship cryptocurrency sagged by a symbolic 0.05%, essentially remaining flat. However, within the week, the price saw an upward movement but failed to sustain it. Investors failed to develop the buying momentum that formed after the positive court decision in […]
The major currency pair remained in a weak position on Monday, although it is attempting to correct itself. The current EURUSD exchange rate stands at 1.0780. The US released a significant set of crucial macroeconomic statistics last Friday. The data impressed investors and revived discussions about the future of interest rates in the US market. The […]
The US unemployment report for August showed modest job growth, a slowdown in wage growth, and a relatively sharp jump in the unemployment rate, all clear signs that the US labor market is normalizing. It’s challenging to expect inflation to accelerate in this context, so the likelihood of the Federal Reserve raising interest rates in […]
TitleUS30USD H1 | Bearish reaction off 78.6% fibo? TypeBearish Reversal Preference:Price is approaching our pivot point at 34910.6, which is a swing high resistance, aligning with the 78.6% fibo retracement and 78.6% fibo projection. If price closes below our pivot point, then we can expect price to fall to the 1st support at 34691.1, which […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument could go by the reversal signal in a descending wave. The decline target might be 1939.00. After testing the support, the price could rebound from it and continue the uptrend. However, the quotes might rise […]