Category: Technial Analysis
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 […]
EURUSD, “Euro vs US Dollar” EURUSD quotes and the RSI on their H4 charts are approaching their respective oversold areas. In this situation, a test of 0/8 (1.0742) is expected, followed by a rebound from this level and a rise to the resistance at 2/8 (1.0864). The scenario can be cancelled by a downward breakout […]
OPEC+ Supply Cut Expectations Driving Crude Crude prices are starting the week on a softer footing after breaking out to their highest levels since November 2022 on Friday. The main driver behind the move is the bullish OPEC+ backdrop. On the back of recent production cuts, allied non-OPEC producer Russia noted that it will […]
TitleGBPUSD H4 | Falling from a pullback resistance? TypeBearish Reversal Preference: Price is rising toward our pivot point of 1.26539 which serves as a pullback resistance level that aligns with 50% Fibo retracement. A reversal from this point could lead the price to drop to the 1st support at 1.25705, a swing-low support level. Alternative […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting after it broke a bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2615 is expected, followed by a decline to 1.2445. An additional signal confirming the decline will be […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a structure of a wave to 1.0770. Today the market is forming a consolidation range above this level. Escaping the range upwards, the price might form a link of growth to 1.0810. Exiting the range downwards, it might open the potential for a wave to 1.0740, from […]
Bitcoin has gained the required support at the level of 25000 and formed a hammer. The asset is likely to head north and face resistance at the level of 29000 soon. So, let’s observe what is going to happen. The price of Brent oil has reached the resistance level of 89.00. The asset might either […]
The major currency pair declined on Friday. The current EURUSD exchange rate stands at 1.0840. The US dollar is experiencing increased demand due to the cautious approach taken by major central banks regarding their September interest rate decisions. The US dollar’s strong rally and its significant fluctuations can be exhausting for investors. As market observers […]
GDP Undershoots The US Dollar rout continues this week ahead of the all-important NFP release tomorrow. DXY took another leg lower as the prelim Q2 US GDP reading yesterday came in below expectations at 2.1% vs 2.4% prior and expected. This marks the latest in a string of tier-one data points to undershoot expectations and […]