Category: Technial Analysis
TitleBTCUSD H4 | Falling to support TypeBullish Bounce Preference:Price could approach the pivot point of 26577.94 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 28171.06. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 25785.98. To discuss this trading idea, […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, the pair has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be 1.3410. Next, the price will have a chance to break the support and continue the downtrend. However, a correction to 1.3550 […]
BRENT On H4, Brent quotes have risen to 0/8 (75.00), escaping the oversold area. The RSI has rebounded from the support line. In this situation, a test of 1/8 (78.12) is expected, followed by a breakout of this level and a rise to the resistance level of 2/8 (81.25). The scenario can be cancelled by […]
USD Short-Squeeze Continues The Dollar was seen breaking out to its highest levels in six months yesterday as debt ceiling optimism and hawkish Fed sentiment combined to drive support for the DXY. With a debt ceiling deal now looking highly likely, the expected economic boost is fuelling an uptick in hawkish Fed expectations ahead of […]
Daily Market Outlook, May 19, 2023 Asian equities are mostly positive heading into the weekend, taking their cue from the tech-led gains on Wall Street. The Nasdaq’s strong performance and the S&P 500 reaching a nine-month high due to optimism surrounding the debt ceiling and solid economic data set a positive tone. The Nikkei 225 […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the support area. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2460 is expected, followed by a decline to 1.2275. An additional signal confirming the decline will be a rebound from the upper […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of decline to 1.0760. Today the market is forming a consolidation range above this level. If the price breaks it downwards, the range could extend to 1.0703. And if the price escapes the range upwards, a correction to 1.0900 could begin. Next, a […]
Pound Breaks Down GBPUSD is trading heavily lower today as USD continues to rally across the week. Debt ceiling uncertainty and recent Fed hawkishness have conspired to underpin USD recently, going against the prevailing view held by major players that USD is likely to head lower near-term. Given the bull run we’ve seen in GBP […]
The dollar index has risen to its highest level since the end of March, the rally yesterday was accompanied by a pickup in US equity market and bond rout (a signal that the Fed may be again behind the curve). Major US stock indices closed in positive territory, US futures extend the rise today, with […]
Gold has repeatedly approached the supporting level of 1980. This might signify the upcoming potential breakout of this level. The price drop might lead to the formation of a reversal pattern such as a double top with the neckline at the level of 1980. So, let’s wait and see what is next. Bitcoin might still […]