Category: Technial Analysis
The British pound sterling, paired with the US dollar, has retreated. The current GBPUSD exchange rate stands at 1.2488. Statistics published yesterday revealed that the unemployment rate in the UK rose to 4.3% in July, in line with expectations. The previous month, the figure stood at 4.2%. Average wages in the country for the three […]
TitleUSDJPY H4 I Reacting off the resistance? TypeBearish Reversal Preference:Price is currently at our pivot point of 147.382, which serves as an overlap resistance level that aligns with 78.6% Fiob retracement. A reversal from this point could lead the price to drop to the 1st support at 146.132, representing a swing-low support level. Alternative scenario:However, […]
TitleSPX500USD H4 | Bullish bounce off 50% fibo? TypeBullish Bounce Preference:Price could bounce off from our pivot point at 4460.15, which is an overlap support level, aligning with the 50% fibo retracement. If price bounces off the pivot point, then price could potentially rise towards the 1st resistance at 4494.9, which is a swing high […]
As of Wednesday, nothing has changed substantially in the cryptocurrency market. The BTC exchange rate remains near 25,871 USD. Market attention is still focused on information about the potential unlocking of FTX assets, worth no less than 3.4 billion USD. The company intends to sell the assets for 200 million USD weekly. From a fundamental […]
The major currency pair continues its consolidation on Wednesday. The current EURUSD exchange rate stands at 1.0747. There were no significant US statistics published earlier this week. The most interesting developments will begin today with the US Consumer Price Index report for August. According to forecasts, inflation may have increased to 3.6% y/y from 3.2% […]
Brent Soaring on OPEC Drivers Oil prices are soaring this week with Brent crude oil trading up to fresh highs on the year, hitting levels not seen since November 2022. Brent is now trading around 32% higher off the YTD lows and looks poised for further gains near term against a highly supportive backdrop. The […]
Stocks Showing Caution Ahead of Data US stock markets are reflecting some trepidation ahead of the latest set of US inflation figures due later today. Fed rate hike projections for the remainder of the year have been sharply unwound on the back of recent US data misses. While the Fed has reaffirmed its message that […]
EURUSD, “Euro vs US Dollar” EURUSD has performed a declining wave to 1.0704. At a certain moment, the market formed a consolidation range under this level. Escaping the range upwards, the pair completed a link of growth to 1.0764. A consolidation range might form under this level today. Exiting this one upwards, the pair could […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the quotes are expected to rise above 7/8 (148.43) and then reach the resistance level at 8/8 (150.00). The scenario can be cancelled […]
UK Growth Drops Sharply The British Pound has come under renewed selling pressure into the middle of the week as traders digest the latest set of UK growth figures. According to the ONS, the UK economy shrank by 0.5% in July. This was deeper than the 0.2% dip the market was looking for and […]