Category: Technial Analysis
The British pound paired with the US dollar is consolidating after recently experiencing weakness. The current GBPUSD exchange rate stands at 1.2630. First, the US dollar’s pressure on the pound has eased., allowing the GBP to restore some positions. Second, inflation data has shown that the Bank of England might not need to raise the […]
TitleSPX500USD H4 | Bearish reversal off pivot? TypeBearish Reversal Preference:Price has broken previous highs, creating several break of structures. This could mean that price could potentially head towards our pivot point at 4541.8. We can expect a bearish reversal from our pivot point, which is an overlap resistance, 78.6% fibo retracement and 161.8% fibo extension. […]
TitleEURUSD H4 | Bearish continuation Expected? TypeBullish Bounce Preference: Price has just fallen from our pivot point of 1.08376 which is an overlap resistance level. A reverse from here, price can fall to 1st support at 1.07763 Alternative scenario: However, if price breaks above the pivot, it could rise to 1st resistance at 1.09014 which […]
EURUSD, “Euro vs US Dollar” EURUSD got supported at the level of 1.0783 and performed a link of growth to 1.0836. At a certain point, the market formed a consolidation range around this level. Exiting the range upwards, the market continued the corrective wave to 1.8900. Today it is forming a link of decline to […]
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 rebounded from the support line. In this situation, the price is expected to rise above 6/8 (146.87) and continue growing to the resistance at 7/8 (148.43). The scenario can be […]
TitleUS30USD H4 | Bearish reaction off 127.2% fibo? TypeBearish Reversal Preference:Price is hovering below our pivot point at 34880.1, which is an overlap resistance, and at the 127.2% fibo extension. We can expect price to react off bearishly, to our 1st support at 34604.8, which is an overlap support level. Alternative scenario:If price breaks above […]
Weaker USD Helping Oil Bulls Crude prices are rising today ahead of the next EIA release scheduled for later this afternoon. The current weakness in USD is helping underpin the market, which is also being lifted by bullish sentiment in stocks currently. On the back of recent weakness in US data, rate hike projections for […]
EURUSD, “Euro vs US Dollar” EURUSD is pushing off the upper boundary of the descending channel. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper boundary of the Cloud at 1.0885 is expected, followed by a decline to 1.0705. An additional signal confirming the decline will be […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hanging Man reversal pattern near the resistance line. Currently, the instrument might go by the reversal signal in a descending wave. The decline target could be 1928.50. Upon testing the support, the quotes might rebound from it and continue the uptrend. However, the quotes could drop […]
TitleGBPUSD H4 | React off resistance level? TypeBearish Reversal Preference: Price has just reacted off our pivot point off 1.26525 which is an overlap resistance level. A reverse from here, price could fall to 1st support at 1.25647 which is a multi swing low support level. Alternative scenario:However, if price breaks above the pivot, it […]