Category: Technial Analysis
TitleGBPUSD H4 I Bounce off Support level? TypeBullish Bounce Preference: Price has just bounced off our pivot of 1.26647 which is an overlap support level. A bounce off from here, price could push to 1st resistance at 1.27076 which is just before the 38.2% Fibo retracement. Alternative scenario:Howe if price breaks below the pivot, it […]
TitleSPX500USD H4 | Bullish bounce off 61.8% fibo? TypeBullish Bounce Preference: Price is approaching our pivot point at 4458.6, which is a pullback support level, and aligning with the 61.8% fibo retracement. If price bounces off our pivot, then price could rise to the 1st resistance at 4503, and aligning with the 61.8% fibo projection. […]
EURUSD, “Euro vs US Dollar” EURUSD has broken the consolidation range upwards and completed another link of correction to the 1.1063 level. Once the price hit this level, the market started to develop a new wave of decline to the 1.0955 level. A link of growth to 1.1000 (a test from below) could begin next, […]
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 growth target could be the resistance at 1.1110. However, the quotes could correct to 1.0940 and continue the uptrend after the pullback. USDJPY, […]
TitleXAUUSD H4 I Potential Bearish Reversal? TypeBullish Bounce Preference:Price has just bounced off our pivot point of 1910.321 which is an overlap support that aligns with the 127.2% Fibo extension. A bounce off from here, price could push to 1st resistance at 1919.214 which is just below the 61.8% Fibo retracement. Alternative scenario:However, if price […]
CPI Weighs on Stocks US stocks are ending the week on a softer footing following the latest inflation data released yesterday. Annualised CPI was seen to have risen 3.2% last month, up 3% from a month prior. The stickiness in inflation will no doubt be a frustrating development for those looking to call an end […]
Crude Continuing Higher Crude prices today broke out to their highest level since November 2022 as the rally off the YTD lows continues to gather pace. Crude futures are now up more than 30% off the lows printed in May and look poised for further gains while above the 82.59 level. Oil prices have been […]
TitleSPX500USD H4 | Bearish reaction off 100% fibo projection? TypeBearish Reversal Preference:Price is slowly heading towards out pivot point at 4516.3, which is at the 100% fibo projection. The overall market structure is currently making lower highs and lower lows, which shows that it is a bearish trend. Hence, if price shows a bearish reaction […]
ECB Concerned Over Economic Prospects In its latest economic bulletin released today, the ECB shared little in the way of optimism for the health of the eurozone economy. While the bank acknowledges that inflation is declining, it notes that CPI is still elevated and is expected to remain so for too long. Additionally, it notes […]
The US inflation report had a moderately favorable outcome for the market. Both overall and core inflation figures came in below expectations, slightly alleviating market tension linked to the risk of another rate hike by the Federal Reserve (Fed). Overall inflation eased from 3.3% to 3.2%, but more importantly, core inflation retreated by 0.1% to […]