Category: Technial Analysis
EURUSD, “Euro vs US Dollar” On H4, near the resistance level, EURUSD has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decrease target could be 1.0695. However, the price might correct to 1.0770 and continue the downtrend after testing the resistance. USDJPY, “US Dollar […]
Bailey Admits Mistakes Bank of England governor Andrew Bailey has come under fire over comments made during a speech yesterday where he admitted that the BOE had made mistakes over its response to rising inflation. The BOE was widely criticised for not acting early or aggressive enough with its monetary tightening. In comments yesterday, Bailey […]
TitleAUDUSD H4 | Bounce off 1st support TypeBullish Bounce Preference: Price is falling to our pivot point of 0.65787 which is a swing low support level. A bounce from here. price could rally to 1st resistance at 0.66063 which is a pullback resistance level Alternative scenario:However, of price breaks below the pivot, it could fall […]
The British pound looks neutral against the US dollar. The current GBPUSD quote is 1.2450. This morning’s statistics from the UK provided food for thought. Inflation fell to single digits for the first time in eight months. At the same time, the indices for services and base prices have risen at the fastest rate in […]
RBNZ Hiking Finished The New Zealand Dollar is falling sharply today on the back of the latest RBNZ meeting overnight. Despite the central bank hiking rates by a further .25%, the sell-off emerged as governor Orr signalled no further hikes were likely near-term. Notably, some policy makers had been in favour of holding rates unchanged […]
The data on British inflation has caused serious concerns in the markets about the prospect of a renewed acceleration of inflation worldwide. The core inflation (which excludes volatile goods) jumped from 6.2% to 6.8% in April. It was expected that the pace of price growth would remain unchanged. In just one month, the price level […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed a Doji reversal pattern. Currently, the instrument could go by the reversal pattern in an ascending wave. The correction target might be 1.3555. Next, the price could rebound from this level and continue the downtrend. However, the quotes might drop to 1.3430 without testing […]
USDJPY, “US Dollar vs Japanese Yen” On H4, the quotes are in the overbought area. The RSI has formed a divergence on its chart. In this situation, a downward breakout of +1/8 (138.28) is expected, followed by a decline to the support level of 7/8 (132.71). The scenario can be cancelled by breaking the resistance […]
Daily Market Outlook, May 24 , 2023 Asian equities mostly traded in the red, following the negative lead from Wall Street. Investor sentiment was affected by ongoing concerns over the US debt limit impasse, with only nine days remaining until the presumed X-date. Additionally, tensions between the US and China intensified after the US House […]
TitleUS30USD H4 | Bullish reversal from overlap support TypeBullish Bounce Preference:Price could approach the pivot point of 32885.22 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 33232.49. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 32593.34. To discuss this […]