Category: Technial Analysis
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is testing the support line. In this situation, further growth to the nearest resistance level of 7/8 (0.8972) is expected. The scenario can be cancelled by a downward breakout of the […]
TitleCADJPY H4 | Falling to pullback support TypeBullish Bounce Preference: Price is falling towards the pivot point of 108.45 which is a pullback support that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 109.093 which is a swing-high […]
TitleEURUSD H4 | Bouncing off Support level? TypeBearish Breakout 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 resistance […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has secured above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2505 is expected, followed by a decline to 1.2305. An additional signal confirming the decline will […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The pullback target might be the resistance level of 1.0780. However, the price could drop to 1.0680 and continue the downtrend without testing the […]
TitleXAUUSD H4 | Potential Bullish Reversal? TypeBullish Bounce Preference:The price is falling toward our pivot point of 1900.434, which serves as a pullback support level. A bounce from this point could lead the price to rise to the 1st resistance at 1916.192, an overlap resistance. Alternative scenario:However, if the price breaks below the pivot, it […]
Aussie Under Pressure The Aussie Dollar continues to linger below the .6520 level following the downside break in early August. The move lower has been laboured, on the back of the impulsive break lower we saw across July. With this in mind, the pair is perhaps vulnerable to a near-term short squeeze if we’re unable […]
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 […]