Category: Technial Analysis
Next Round of Talks on Watch US debt ceiling negotiations continue today and focus is on the US Dollar given the two-way risks around the issue. Given the lack of progress so far, there are limited expectations that any resolution will be agreed today. As such, USD might trade higher into the middle of the […]
TitleXAUUSD | H4 | Reverse from 78.6% Fibo TypeBearish Reversal Price is moving up to our pivot at 2025 which lines up with a 61.8% Fibonacci retracement. A reverse from here, price could fall to 1st support 2005.845 which is an overlap support. Alternative scenario:However, if price breaks above the pivot point, price could rally […]
EUR Under Pressure EURUSD fell sharply on Friday in response to the latest UoM consumer data. Consumer inflation expectations were seen soaring to 12-year highs of 3.2% last month. The rise comes despite CPI heading lower and reflects the view that consumers now believe inflation will remain entrenched around higher levels. Against this backdrop, traders […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of decline to 1.0844. Today the market is forming a consolidation range above this level. A structure of growth could develop to 1.0920, followed by a decline to 1.0833. If the price breaks the range upwards, the potential for a rise to 1.0950 […]
EURUSD, “Euro vs US Dollar” On H4, EURUSD quotes have broken the 200-day Moving Average and are now below it, indicating the development of a downtrend. However, the RSI has reached the oversold area. As a result, the pair is expected to break 2/8 (1.0864) and rise to the resistance at 5/8 (1.0925). The scenario […]
Amazon Shares Rallying Shares in Amazon are trading higher ahead of the open on Monday amidst a general improvement in risk sentiment. Following a decent rally across Thursday and Friday last week, the US Dollar has started the new week with a weaker tone, allowing for a pickup in risk appetite. This improved appetite is […]
After reaching a maximum level last week since the beginning of April, the dollar retraced on Monday, previously breaking upward from below a bearish channel that began in October 2022. An interesting idea now emerges of a bullish breakout as an early signal for the dollar reversal: For EURUSD, a buy signal emerged, at least […]
XAUUSD, “Gold vs US Dollar” Near the support level, gold has formed an Engulfing reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 2040.00. Upon testing the resistance, the price might break it and continue the uptrend. However, the quotes could pull back to […]
The most traded currency pair in the market continues to retreat. The current quote in EURUSD is 1.0860. The US currency is in high demand as a safe haven asset. It is being heavily supported by rising US government bond yields. This came after Friday’s publication of statistics from the University of Michigan. The preliminary […]
The BTC rate stabilised around 27,413 USD on Monday. The weekly loss is estimated at 2%. The leading cryptocurrency rose today above intermediate resistance at 27,300 USD. This may force sellers to reduce volumes, but for a solid rise, the quotes need to secure above the 29,300 USD level. The target to secure is at […]