Category: Technial Analysis
TitleAUDUSD H4 | A bounce off 23.6% TypeBullish Bounce Preference:Price has just bounced off our pivot point off 0.66282 which aligns with a 23.6% Fibonacci retracement. A reverse from here, price could rally to 1st resistance at 0.66704 which is a multi swing high resistance. Alternative scenario:However, if it breaks below, it could fall to […]
TitleETHUSD H4 | Bullish bounce TypeBullish Bounce Preference:Price has bounced off the pivot point of 1792.65 and could continue to climb higher, we could see momentum carry price up to its 1st resistance of 1848.31. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 1759.84. To discuss this trading […]
Tech Stocks Boosted by Powell Shares in Tesla are trading higher ahead of the open today. The stock is benefiting from a combination of factors currently. Dovish comments from Fed chairman Powell on Friday have fuelled a sharp repricing of US rates with the market now projecting a lengthy pause through to November at which […]
Daily Market Outlook, May 22, 2023 Asian equities are mostly in the green as US President Biden’s optimistic remarks at the G7 summit in Japan suggested a potential improvement in relations with China in the near future. Speculation arose regarding the lifting of certain sanctions previously imposed. Nevertheless, market sentiment remained constrained due to ongoing […]
The BTC on Monday is holding near the 26,783 USD mark. The weekly loss is estimated at 2.13%. The situation in the crypto segment did not improve over the weekend. Investors continue to follow the information about the ban on any type of transactions related to the Binance exchange, such as restrictions imposed by Westpac […]
The market’s most traded currency pair starts the new week of May cautiously. The current EURUSD quote is 1.0820. The currency market’s attention is still focused on the US national debt and the debates around it. So far, the discussions between the Republicans and Democrats have proved non-productive. It would be great for them to […]
TitleUSDCAD H4 | Falling to 1st support TypeBearish Reversal Preference: Price is approaching our pivot point at 1.35298 which is an overlap support level. A reverse from here, price could fall to 1st support at 1.34688 which is a swing low support level. Alternative scenario:However, if price breaks above the pivot, it could rally to […]
Lagarde Leans Into Tightening Mode Following on from the dovish comments heard from Fed’s Powell on Friday, ECH head Christine Lagarde struck a different tone during an interview on Sunday. Lagarde was seen to continue pushing ahead with further tightening. While Lagarde noted that the central bank had “covered a large chunk of the journey […]
EURUSD, “Euro vs US Dollar” On H4, the quotes are under the 200-day Moving Average, revealing the prevalence of a downtrend. The RSI is approaching the resistance line. In this situation, a downward breakout of 1/8 (1.0803) is expected, followed by a decline to the support at 0/8 (1.0742). The scenario can be cancelled by […]
EURUSD, “Euro vs US Dollar” On H4, near the support level, EURUSD has formed a Harami reversal pattern. The instrument is currently going by the reversal signal in an ascending wave. The correction target could be 1.0860. However, the price might drop to 1.0760 and continue the downtrend without testing the resistance level. USDJPY, “US […]