Category: Technial Analysis
AUDUSD, “Australian Dollar vs US Dollar” On H4, the quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend. The RSI is testing the support line. In these circumstances, the quotes are expected to rise above 7/8 (0.6805) and reach the resistance at 8/8 (0.9835). The scenario can be cancelled by a […]
The British pound sterling declined against the US dollar on Thursday. The current GBPUSD quote is 1.2577. The pair tested local highs yesterday but failed to secure them. Today is a big day for the GBP: the Bank of England is holding a meeting to decide on the interest rate and give signals on further […]
Daily Technical Trade Setups For DXY, EURUSD & USDJPY To access today’s actionable analysis, click here! Source: Tickmill
TitleDXY H4 | Rising into resistance TypeBearish Reversal Preference:Price could approach the pivot point of 101.4301 and potentially reverse from here, we could see momentum carry price down to its 1st support of 100.5593. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 101.9654. To discuss this trading idea, […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a correction at 1.1000. A new structure of decline to 1.0963 is forming today. If this level breaks downwards, the potential for a wave of decline to 1.0930 could open, from where the trend might continue to 1.0903. This target is the first one. GBPUSD, […]
The decline of the most traded currency pair is accelerating. The current EURUSD quote is 1.0930. The market is following the inflation reports from the US and China and making interim conclusions. The US CPI for April came in below expectations at 4.9% y/y. Monthly inflation rose by 0.4% as forecast. The core CPI rose […]
BOE in Focus The Bank of England meets today for its May rates decision and market expectations are split, creating plenty of room for volatility in GBP and UK assets. While a further .25% hike is well-baked in, market expectations over the likely tone of the bank’s forward guidance are split. Hawks argue that with […]
Daily Market Outlook, May 11, 2023 Asian equity markets traded with a mixed tone after yet another erratic performance on Wall Street, indices whipsawed and treasuries rallied as US CPI came in broadly in line with expectations, while the headline number dipped under the expected 5% level printing 4.9%. The Hang Seng and Shanghai Comp […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD is correcting after a rebound from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.3415 is expected, followed by a decline to 1.3195. An additional signal confirming the decline will be a rebound from […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed an Engulfing reversal pattern. The instrument is currently going by the reversal signal in an ascending wave. The pullback target could be 1.3420. Next, the price might rebound from this level and continue the downtrend. However, the price might drop to 1.3290 before correcting […]